Saturday, May 24, 2003
Economic development strategies fall into two broad categories: those that are publicly-led and privately supported and those that are privately-led and publicly supported. Each has its place, and each requires different leadership skills. A balanced economy requires both.
Places like Cleveland, OH and Charleston, SC excel at publicly-led, privately supported strategies, but they are not so good with privately-led initiatives.
Other places, like Research Triangle Park, Austin, and (more recently) Albany, NY excel at privately-led strategies. Some places, like Oklahoma City, have success with both approaches.
Other places can't do either.
Now Duluth, MN is trying to make the shift from publicly-led to privately-led strategy. In coming months, Charleston, SC will be making a similar shift it its focus.
Here's a good article that explains the logic behind Duluth's shift.
posted by Ed Morrison |
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Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Shifting the strategic balance in Duluth, MN
