Friday, August 17, 2007
This commentary out of Connecticut raises interesting questions about the new head of Connecticut Innovations Inc., a state agency that invests public funds in new technology companies. Read more.
State governments face a real risk in putting public money into private deals. Political considerations can override the market. Easily. So, for example, one of the major risks facing states with "deal closing" funds comes in making sure that the decisions to make investments are as transparent as possible.
There are ways to manage the risks of political interference. For example, Ohio does a good job of managing its Third Frontier funds by relying on a process of outside review.
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.
Putting public money into private deals
