Friday, March 26, 2004
A bank in Pennsylvania has a plan: Citizens Bank of Pennsylvania will provide $100 million in low-interest loans to manufacturers pledging to create jobs in the state. The bank is a subsidiary of the Royal Bank of Scotland's U.S. division.
The new program is called The Citizens Job Bank. Offered in collaboration with the state Department of Community and Economic Development, the bank will create 4,000 jobs, if it meets its goal of one job for each $25,000 in loans. According to the bank, this initiative is the first of its kind in the country.
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.
Financing for Pennsylvania manufacturers
