Economic Development InsightsThe Ady Advantage: Strategy Matters

 

AS I SEE IT: BRE Should Be the Backbone of Most EDO Programs

How much of your jurisdiction’s net job gains and capital investment came from existing businesses? The chances are, the majority came from existing businesses. According to Eric Canada, chief strategist at Blane, Canada, Ltd. that number can vary tremendously by how rural your community is and by whether any “mega projects” have recently located in […]

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AS I SEE IT: BRE Is Often the Unsung Hero in Local Economic Development

For all the glamour and excitement of business recruitment (anybody interested in a Boeing 777x plant, promising billions in investment and thousands of good-paying jobs?), the reality is that most economic development successes come from a strong Business Retention and Expansion program.We’ve had the opportunity to work with hundreds of EDOs of all sizes, and […]

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AS I SEE IT: Incentives

At nearly every site selector panel I can recall, somebody asks the question about incentives. How much is enough? Is a deal fund critical to winning a project?  We’ve all heard the saying that an incentive will make a good deal great, but it can’t make a bad deal good. Jim Renzas from RSH Group […]

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AS I SEE IT: Leadership Matters

Every couple of months, somebody will ask me about how to bring about successful change in their EDO and in the region it serves.  Is it the strategic plan? Is it the level of stakeholder input that is received? Is it the amount of money the investors pledge?In my experience, all of those are outcomes […]

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Top 5 Take Aways from Mid-America Economic Development Council Competitiveness Conference and Site Selection Forum

1. Business is up. The site selectors and participants both reported a general increase in project activity.2. Labor edges out available sites and buildings as the key location criterion. Not just labor cost and quality, but an acute interest is better quantification of labor availability specific to a given project.3. Speaking of sites, site readiness […]

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AS I SEE IT: The “Haves” and the “Have Nots”

As the existence of the widening gap between the “haves” and the “have nots” among the population has become accepted by most, the same divergence is happening among municipalities and states.As site selectors, we are not just looking at upfront costs, or today’s operating costs. We are looking out ten years or more to anticipate […]

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AS I SEE IT: How EDOs Will Market in the Future

The concepts of regionalism and targeting are both here to stay, as I have expanded on in previous blogs. Throw into this mix the customization of incentives, and I think we start to paint a picture of what economic development will look like in the future.I foresee that regions will be drivers of economic development […]

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AS I SEE IT: Power Play

Several megatrends are resulting in electricity commanding an increasing role in economic development. First, we’ve continued to see the trend of projects with relatively larger capital investments and relatively fewer number of jobs. Not all that long ago, labor costs could account for up to 70% of operating costs. Today, in the most advanced manufacturing […]

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The OESA Automotive Supplier Barometer report, from the OESA Automotive Supplier Barometer, in partnership with Deloitte LLP, sheds light on manufacturer’s budget priorities

 Investment in capital equipment tops North American automotive suppliers’ budget priorities. Opening additional facilities came in last, out of eight options that were provided, after expanding current facility footprint (#3).Interestingly, with all the talk of talent recruitment and retention in the manufacturing sector, hiring temporary or contract employees (#2), hiring direct salary employees (#4), and […]

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AS I SEE IT: Destination-Based Economic Development

Are you in one of those communities where the in-season population is several orders of magnitude greater than the year-round population? Or where everyone seems to know your community because they’ve vacationed there or gone to meetings there, but nobody seems to associate your community with the business and industry there beyond tourism and retail?At […]

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