Economic Development InsightsThe Ady Advantage: Strategy Matters

 

As I See It | The Key to Successful Entrepreneurship and Recruitment

If economic development strategies were a family, business retention and expansion (BRE) would be the hardworking, reliable, but largely unrecognized often overlooked sibling. BRE is not as dynamic and dreamy as entrepreneurship, and certainly not as shiny and intoxicating as business recruitment. But BRE plays a critical role in promoting both entrepreneurship and recruitment programs.How […]

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As I See It | Get Familiar With the Benefits of Fam Tours

‘Tis the season for familiarization, or “fam,” tours.  There’s a reason why these are so popular among communities, regions, and states of all sizes.  The best fam tours not only build relationships with site selectors and business decision makers – they can also help you learn a lot about your community.  It’s that second reason […]

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As I See It | Position Yourself to Win

The economic development field is more intensely competitive than it’s ever been, and that trend is going to continue. Competing successfully starts with an understanding of your location’s economic assets.The drivers for this megatrend:First, the economic development field is maturing. It’s no longer a fledgling field; today, it’s a bona fide professional industry. Most of […]

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As I See It | Regionalism Is Here to Stay

I recently had the honor of speaking at the 20th annual meeting for a group in Oklahoma. Back in 1995, they were one of the first to conduct a target industry analysis (conducted by Fantus, now Deloitte), one of the first to formalize their incentives policy, and also one of the first to push for […]

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As I See It | Readiness and Alignment are the Antidote to Risk, or, “DIRT IS NOT A SITE!” and other Site Selector Truisms

  The minimization of risk is one of the key trends impacting site selection. For those of you who have been around for a while, you’ll recognize this as a trend that’s been around for a long time, and that’s true. What’s changed, though, is how broadly “risk” is being defined today, and in turn, the […]

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AS I SEE IT: The More Things Change, The More They Stay the Same

Look at this quote from an Economic Development Strategic Plan:“Competition for high quality jobs will intensify and the communities that are prepared to address the needs of existing and relocating businesses will be most successful in capturing new investment.”What’s remarkable about that quote is that it was written in 1997 by the site selectors at […]

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AS I SEE IT: You Need to Tell the Story that the Numbers Can’t Tell

I just spent a couple days visiting a region. I’d done my due diligence, and could rattle off a couple dozen of the bellwether statistics about both the region and the state. But the reason that site selectors always go to visit a region is for the story that the numbers can’t tell.During my visit, […]

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AS I SEE IT: Knowledge Jobs Are Being Replaced by….”Interaction” Jobs

For all of us baby boomers, we have had it beaten into our heads that knowledge jobs are the jobs of the future. This is not disrespect production jobs, either – we’ve been talking about how many production jobs have evolved to require soft skills like teamwork and communications. Now everything is changing again. A recent issue of […]

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AS I SEE IT: The Definition of “Innovation” Today

The consulting firm Ocean Tomo recently released its most recent Intangible Asset Market Value Study, which found that the implied intangible asset value of the S&P 500 grew to an average 84% by January 1, 2015 a growth of four percentage points over ten years. This continues a trend from the first year of this […]

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AS I SEE IT: There’s a Place at the ED Table for Higher Education

If you’ve ever worked on a life sciences project, you’ve gotten a glimpse of what they can do.  If you’ve worked with companies that are leveraging university IP or housed in a research park or incubator, you’ve gotten a glimpse of what they can do.   If you need to reach your home-grown graduates, you’ve gotten […]

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