Thursday, May 13, 2004
During the Charleston Innovation Summit, David Ginn, head of the Charleston Regional Development Alliance, made an intersting point about how the Internet has changed the site selection process.
In the pre-Internet days, Charleston would learn of projects 18 months ahead of the investment.
Now, 80% of the site selectors rely on the Internet as a principal source of information. Places like Charleston learn of projects later in the cycle. When Charleston learns of a typical project, the decision is four to five months out, and Charleston is typically competing against four to six locations in two states.
The point is simple: marketing cycles in economic development are compressed and intense. Communities need to be ready.
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.
The changing dynamics of site selection
