Monday, May 29, 2006
In Northeast Mississippi, two economists got together and agreed on a simple forecast about the future of economic development.
Economist #1: "There is not a single formula, but having cheap low-skill labor isn't effective anymore. Now you have to find out what makes a region unique, what works well... What you have to do is encourage innovation and entrepreneurship. It's about finding a niche, and yes, marketing what you have."
Economist #2: Economic recruitment methods of 40-50 years ago just don't work anymore.
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.
If you are using a news reader, here is the link to syndicate this site:
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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.
Abandoning old models of economic development
