Economic Development InsightsThe Ady Advantage: Strategy Matters

 

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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“Top States for Doing Business” – Perception vs. Reality

When does perception line up perfectly with reality? Rarely. Andy Shapiro, commenting on Area Development’s “top states for doing business”, wonders out loud if the top states aren’t just better marketers. Why? Because looking objectively at some of these state’s location criteria suggests they are not even in the Top 25 of states, at least […]

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In Economic Development, Searches Do Not Necessarily Start At The State Level

Bob Hess, executive managing director at NGKF and a founding member of the Site Selectors Guild, reaffirmed a trend identified earlier by Ady Voltedge: that searches no longer necessarily start at the state level. Bob says, “many of our clients look at clusters, eco-systems, or other spatial contexts like edge cities or urban core strategies.” […]

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Mid-America Economic Development Council Selects 2013 Bob Ady Scholarship Recipients

The Mid-America Economic Development Council board of directors recently selected the 2013 recipients for the first annual Bob Ady Scholarship Program. The scholarship program is named in memory of Bob Ady, a champion for economic development in the U.S. and especially the Midwest. The purpose of this scholarship program is to assist new economic development […]

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What Does Economic Development Marketing Share with Consumer Packaged Goods (CPG) Marketing?

All of us in economic development know that there are lots of differences between how “we” market and how consumer packaged goods (CPG) companies reach consumers.  A few big differences that come to mind:• It’s not that easy for us to create new “products” since we’re marketing a place, which itself does not change, although […]

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