Friday, March 18, 2005
The Kentucky legislature is moving down a dangerous path: Following Congress in the practice of earmarking funds for special economic development projects.
In the latest budget, $2.8 million has been earmarked for a shrimp production facility, even though no one seems quite to know what the money will be used for. The three universities involved in the project have not seen any plans. Indeed, the president of the University of Kentucky was surprised when she found out about the project. Read more.
This type of earmarking gives economic development a bad name (as well as some really bad projects). Another example, Senator Grassley's $50 million for a rain forest in Iowa. Read more.
If a state government begins handing out money to early stage technology development, the awards should follow a rigorous peer review process. Ohio's Third Frontier initiative follows this approach. Learn more.
(Here's another example of the practice of earmarking. In Georgia, pork is moving to the suburbs. Read more.)
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
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