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Innovation networks in Wichita
Sunday, August 31, 2003 Witchita has a strong history of successful entrepreneurial ventures. It's interesting, because at first glance, the city has a lower than average rate of start-ups per capita. Instead, Wichita boasts a large number of start-up companies that grow big...like Pizza Hut and Rent-A-Center. This interesting article explores why that might be so. One possible explanation: in Wichita, experienced entrepreneurs are generous with their advice, and, at times, their money, with younger entrepreneurs. Read more. posted by Ed | More on outsourcing higher quality jobs Here's another stark assessment of the impact of outsourcing on higher income IT jobs. In a nutshell: "By 2015, more than 3.3 million U.S. service-industry jobs and $136 billion in wages will have moved offshore, according to a recent study by Forrester Research, a marketing research firm for Fortune 1000 companies. Forrester says the survey is conservative; many job categories could see as much as a 30 percent shift of jobs overseas...the top destinations are India, which has gobbled up about 75 percent of the jobs offshore; the Philippines; Russia; the Baltic countries; Mexico; and Costa Rica." Read more. posted by Ed | Best practices for innovative communities: the view from Canada For the past couple of years, the Canadians have been developing national initiatives to accelerate innovation. Last March, they held a workshop on Innovative Communities. A few days ago, they released a summary of the workshop. I have not had the time to review it all, but there are some interesting points in the summary report. Among the points: "Community innovation processes and outcomes can be strengthened by including more people. There is a need to move 'beyond the usual suspects' in assembling the community leadership team, and reach out to untapped leadership resources found in the diverse makeup of local populations." Read more. posted by Ed | Impact of the recession on Ohio In the twenty-four months following the start of the 2001 recession, Ohio lost 3.3 percent of its overall employment and 12 percent of its manufacturing jobs. Between March 2001 and March 2003, Ohio lost a net of 185,000 jobs. Only California and New York lost more jobs. Ohio lost 118,500 manufacturing jobs. Only Texas and California lost more manufacturing jobs. Download the report, The State of Working Ohio. Go. posted by Ed | Kentucky's bid for an auto parts plant Kentucky has authorized $12 million in incentives in an effort to land a Canadian auto parts plant. The plant would employ 300. That works out to $40,000 per job. Magna International Inc. also is considering some neighboring states for a $132.5 million plant that will build frames for Ford Explorers. Read more details. Read the details on other incentive deals in Kentucky. Go. posted by Ed | Washington State's bid for Boeing Here are details on Washington State's tax package for Boeing. Go. And here's an article on how the prospect of losing Boeing has triggered changes in the state's public policies toward business investment. Go. Today in our history of innovation... In 1910, Glenn Hammond Curtiss made the first U.S. airplane flight over water. He flew in his biplane over Lake Erie from Euclid Beach Park, Cleveland, Ohio, to Cedar Point, Sandusky, Ohio, at an altitude between 400 and 500 feet. The trip took 78 minutes nonstop over a distance of 70 miles. posted by Ed | Trade with China is emerging as a campaign issue Saturday, August 30, 2003 It's one thing when low income workers in rural Kentucky lose their jobs sewing underwear. That's supposed to be progress and a natural outcome of free trade. Now we see middle class jobs vanishing, and politicians are starting to sense a change. Free trade is getting harder to defend. Public television broadcast a good show last night on the flight of middle class jobs overseas to countries like India. Read an overview of the show. Here's more evidence that trade with China is emerging as a campaign issue. After hearing the alarms rungs by small manufacturers, Senator Durbin of Illinois comments, "We have to take the gloves off with China." Read more. Don Iannone has posted two good articles on China on his weblog. Go. They include an article by Nicholas Lardy, a noted China scholar with a balanced view about China's development. Download the article. posted by Ed | Bowling Green's Transpark For years, EDPros in Bowling Green have been trying to build an intermodal facility. It's been a struggle. Here's the latest. Go. posted by Ed | Central Michigan Research Alliance continues to develop Few people would think of Central Michigan as a concentration of innovation and technology. However, a group of seven research, economic development and academic institutions are working together to grow technology companies. The Central Michigan Research Alliance includes: Middle Michigan Development Corp., Midland Economic Development Council, Saginaw Future, Inc., Central Michigan University Research Corp., Michigan Molecular Institute, and Saginaw Valley State University. None of these are household names, but together they form a more effective network. For example, the Alliance is conducting some sophisticated workshops that illustrate the point. In mid-July, the Alliance sponsored a forum that explored "cost control and revenue generation through the use of innovative business intelligence techniques". Read more. Visit their web site. Go. posted by Ed | Warehouse industry is moving to the suburbs Developers are building modern bulk warehouses in the suburbs, and this product competes effectively against more traditional warehouse space located closer to central cities. Modern warehouses are built taller and are filled with the automation needed to move goods efficiently. Good quote: "The old concept of a warehouse being an unsophisticated place to store things is just not true." Learn more. Today in our history of innovation... In 1929, Colonel E. H. Green took delivery of a new combination gas and electric automobile, built by the General Electric Company. posted by Ed | The benefits of working for teens Friday, August 29, 2003 For the past 15 years, a professor in Minnesota has been studying the work habits of teens. Her conclusion: Work can be very good for young adults. It's a message we can pass on in our communities. In 1988, she randomly selected 1,000 ninth-graders. With annual surveys, she has probed how their employment affected their lives during and after high school. Working teens and their parents said having a job fostered responsibility, independence and time-management skills. Her advice: Limit work to less than 20 hours a week. More than that, and teens show signs of increased smoking and drinking. Learn more. Today in our history of innovation... In 1866, Sylvester Marsh demonstrated the first cog railway in the world at the base of Mount Washington, New Hampshire, the highest peak in New England. The Cog Railway is an engineering marvel, a technology of toothed cog gears, rack rails and tilted boilers. If you have never seen it, plan a visit some day. It's the only cog railway still powered by steam. posted by Ed | North Carolina report on guiding principles Thursday, August 28, 2003 Institute for Emerging Issues at North Carolina State University has a report to guide the state as it develops its innovation economy. Developed out of the 2003 Emerging Issues Forum, key points of the report include: 1. State government needs the capacity for independent assessments of alternative economic development strategies. 2. Private sector leaders from the new economy must help set priorities for the state. 3. Universities can help job growth by bolstering collaboration between technology transfer and economic development efforts. 4. Regional economic development can be strengthened by clearer niche strategy. 5. Rural and inner city economic development can be enhanced by focusing on small, indigenous businesses. Download the report. Go. posted by Ed | Growth on the horizon? The indications are rising that a return to innovation-driven growth is in on the horizon. The venture capital and IPO markets are showing some signs of life. Read more from a Business Week article. Notable quote: "...in the end, economic growth is about innovation -- coming up with new ideas, funding their development, and turning them into profitable products and services. And that's where the U.S. economy shines." posted by Ed | Boeing 7E7 from a Texas perspective Rumors continue to circulate, but the truth is, nobody knows much. Here's the latest round-up of 7E7 news from a business journal in Dallas. Go. posted by Ed | Ranking the health care economy Milken Institute has released a new report that ranks all 317 metros on the strength of their health care economy. The report is based on employment in 13 health-care industries, from hospitals, drugs and medical supplies to health insurance and medical research. The report also looks at which states and regions have the largest concentrations of health-care employment. You can see the rankings from this page or download the report. Go. posted by Ed | Young entrepreneurs emerging as a new trend There's a new wave forming: entrepreneurship and young people. Regular readers of EDPro Weblog know that Howard County, MD is one location that is taking a lot of the right steps to compete in an economy driven by innovation. Not surprisingly, EDPros and the business community in Howard County are on top of this trend. Read more. Today in our history of innovation... In 1830, "Tom Thumb", the first locomotive built in America, ran from Baltimore to Ellicotts Mill. posted by Ed | Here's what's happening in Pittsburgh Wednesday, August 27, 2003 When I met Ronnie Bryant in Shreveport years ago, who would have thought? Now look at the man. Here's a review of the first half of 2003 for the Pittsburgh Regional Alliance. Go. posted by Ed | Louisiana Pacific will probably move east Louisiana Pacific is considering moving its headquarters out of Portland, OR. For Portland, the game comes down to trying to overcome major long term shifts in the timber industry. Charlotte, N.C.; Nashville, Tenn.; and Richmond, Va. are all competing for the prize. The article reviews what Tennessee, North Carolina and Virginia are offering to attract corporate headquarters. Read more. posted by Ed | Recommendations for managing growth in Michigan In an effort to preserve the character of Michigan and manage growth, Governor Granholm appointed the Michigan Land Use Leadership Council. The Council issued its final report earlier this week, and the recommendations are ambitious. To preserve agricultural lands in rural areas, the Council recommends limiting road building. To concentrate infrastrucutr investments, the Council recommends the creation of "commerce centers" in urban areas. Read more. Download the report from this page. Go. The Council has also compiled a long list of resources on land use and growth management. Go. Here's the Council's on-line library. Go. posted by Ed | Web Watch: Greensboro launches a series of sites Civic leaders in Greensboro have launched a series of sites, all targeted at a different audience, and all connected. This approach reflects an emerging trend in community web site design. Each web site has a clear audience and purpose, but graphic elements are carried over from site to site in order to integrate them. Together, they present a detailed view of what's going on in Greensboro. Greensboro took the critical step of having one designer handle all of these sites under a single umbrella organization. Too often, communities handle web design without coordinating among groups. As a consequence, total costs are higher, the sites lack integration, and the branding gets blurred. www.actiongreensboro.org www.greensboroconnects.com www.centercitypark.org www.downtownballpark.org www.synerg.org Today in our history of innovation... In 1859, Colonel Edwin L. Drake drilled the first successful oil well in the United States near Titusville, Pennsylvania. posted by Ed | WVA puts financing package together for Cabela's Tuesday, August 26, 2003 The funding package for the Cabela’s outdoor recreation superstore and distribution center near Wheeling is complex. Here's the deal in a nutshell. Go. But there's more to it than that. The $35 million deal includes $2 million for an in-store TV studio. Or, maybe it doesn't. No one is quite sure. Read more. West Virginia has hatched some truly strange deals recently, including a proposed $70 million for a Victorian outlet shopping mall in downtown Wheeling. (A project that has since died.) posted by Ed | FedEx Ground hub is about to land Soon, FedEx Ground will make a decision on where to build a ground hub: Northern Kentucky, Southern Ohio, or Indianapolis. Read about the incentive NKY has prepared for a facility that will employ 800. Go. Read more. posted by Ed | Globalization from Tampa's perspective We used to think that job losses from overseas competition focused on lower end manufacturing. No longer. The latest jobs likely to head overseas include higher-end work in information technology, accounting, engineering, and human resources. View the impacts from the vantage point of Tampa's economy. Go. If you are still skeptical that globalization is hitting harder and faster than ever before, consider the case of Cadence Design Systems, Inc., a Silicon Valley company that manufactures sofftware used in the design of computer chips. Cadence has announced that the company will be moving more of its Silicon Valley jobs to China and India. According to the company's chief executive: "In India and China, we can get three to five equivalent engineers for what we pay one here." Learn more. (Meanwhile, 25 states are cutting funding for higher education.) Today in our history of innovation... In 1895, Niagra Falls generated its first commercial electricity. posted by Ed | Georgia tries to pressure Chrysler for a commitment Georgia officials are getting impatient. In an August 13 letter, the state's top economic development official calls on Chrysler to commit to its truck plant in Savannah by the end of the year. Otherwise, (and this must have made Chrylser managers shake in their shoes) Georgia will shop the land to someone else. The state has been investing heavily in the site. By the end of September, the state is expecting to have spent about $60 million to prepare the site for the company. The entire incentive package -- much of it on hold until DaimlerChrysler commits -- adds up to $322 million. I'm not sure what is more foolish: making heavy investments before the commitment is in hand, trying to pressure Chrysler with a letter, or ignoring the fact that the letter could be easily leaked (or, in this case, made public through a public records request). Read more. Meanwhile, the state is re-evaluating its incentive programs. Learn more. posted by Ed | Rhode Island creates incentives for researchers Monday, August 25, 2003 Technology transfer and commercialization involves a complex web of relationships. Faculty researchers need to be rewarded, if a university hopes to capitalize on research opportunities. In many university settings, researchers are not rewarded. It's not just financial incentives that count. Faculty release time and other non-monetary incentives can encourage researchers to explore the commercial applications of their ideas. With a change in state law, researchers at the University of Rhode Island can now form and finance their own companies. This represents a big step forward. Most immediately, the change will help the state compete more effectively for top young reseachers. The state now has to work on other aspects of a commericalization network, including convenient, flexible incubator space. Learn more. posted by Ed | Knoxville builds its innovation infrastructure The University of Tennessee has a new research foundation. Started this April, the Foundation handles intellectual property and commercialization activities at the university. Learn more. Another organization, Technology 2020, is an Oak Ridge-based technology-focused economic development organization that UT has chosen to help run an incubator. Technology 2020 is meeting with faculty and to scope the campus for technologies to commercialize. Visit the Technology 2020 web site. Go. posted by Ed | Alaska EDPros selling water for export Jonathan Krebs from the Sikta Economic Development Association writes to give us the latest in what's happening in Sitka, Alaska. In my experience, EDPros in Alaska are innovative and entrepreneurial. So I was not surprised when Jonathan passed on news that the City and Borough of Sitka has 25 million gallons per day of raw alpine water for sale. The water source is Blue Lake at the Sawmill Cove Industrial Park. The lake is fed by snow and glacier melt and the 95" of rain Sitka receives each year in the Tongass National Rain Forest. The source is a protected watershed without human or farm animal contamination. Sitka is one of a handful of communities in the US with specific water rights allowing the export of water. In this case, the water is available for export in bulk form such as by tanker ship, barge or in cardboard totes with bladders capable of holding 250 gallons each or larger and put into shipping containers. The sale offer is presented in an open RFP currently accessible at the Sawmill Cove Industrial Park web site. Go. Visit the SEDA site. posted by Ed | California is no gold mine for other states While states are targeting Calfornia for recruiting trips and advertising campaigns, the state chamber says there is no hard evidence that companies are moving. A recent report by the Public Policy Institute (PPI) of California notes that companies moving out of Silicon Valley are more likely to move to neighboring cities, not out of state. Read more. Download the PPI report from this page. Go. Today in our history of innovation... In 1973, the first scan was made using CAT (Computer Assisted Tomography). posted by Ed | Economy Watch Here are some of the best economics articles from the last week: Internet retail sales on the rise Fed's Parry says jobs will follow economic pickup Fed's Parry sees no 'early start' on US rate hikes Blackout estimated to cost up to $6 billion Home Starts Hit 17-Year High in July Industrial production jumps in July posted by Ed | Michigan's network of technical education centers Saturday, August 23, 2003 In developing a strategy for upgrading workforce skills, we confront a harsh reality: 80% of our workforce for the year 2010 is already in the workforce. How do we promote more aggressive investments by existing companies to imprive the skills of their workforce? Michigan's approach has been to establish seventeen technical education centers across the state. Business Facilities magazine gave the Michigan Economic Development Corp. an award last year for using these technology centers to attract more workers to technical fields. Across the state, these centers have provided service to more than 1,000 employers and 25,000 trainees. We hear a lot of talk about "lifetime learning", but few states have launched practical initiatives to build and support the facilities that both companies and unemployed workers need. Learn more about Michigan's approach. Go. Visit the web site for the Michigan Technical Education Centers. Go. posted by Ed | Albuquerque and the MEMS market MEMS stands for microelectromechanical systems. These are systems so small that 10,000 of them can fit in a space the diameter of a human hair. They combine microelectronics with tiny machines or sets of gears. Right now, MEMS are used largely as sensors, and they are widely used in automobile airbags and in inkjet printer heads. Twenty-five MEMS companies call Albuquerque home, and the city hopes to become a major player in a market that could grow to $30 billion by next year. Read more. MEMS development is part of Albuquerque's Next Generation Economy Initiative, a public-private partnership to build the foundations for the region's technology-based economy. Learn more about Next Generation Economy, Inc. from their web site. Go. Today in our history of innovation... In 1977, Bryan Allen won the Kremer Prize for the first human-powered flight as he pedalled the Gossamer Condor for at least a mile at Schafter, California. posted by Ed | San Jose forum explores strategic options Friday, August 22, 2003 The future looks bleak for middle income tech workers in Silicon Valley. Jobs paying $40,000 to $80,000 are disappearing. That will leave high-end engineering and leadership positions along with low-level service jobs. According to analysts, the Valley needs to diversify into health care and financial services in order to generate more middle income employment. In addition, the Valley needs to prepare for intensifying competition from India and China. AnnaLee Saxenian, a professor of city and regional planning at UC-Berkeley, is one of the brightest lights in our business. Her comment: "[A]s these other places improve their capabilities, we're going to see real problems.'' Read more. posted by Ed | New Jersey's agricultural smart growth plan New Jersey has 9,100 farms and over 800,000 acreas of farmland, most in small farms. Two thirds of New Jersey's farms are under 50 acres. 13% of them participate in a farmland preservation program, the highest percentage in the country. Nevertheless, New Jersey is still losing over 10,000 acres a year to development. The Smart Growth plan accelerates the purchase of important agricultural land and coordinates farmland preservation at all levels of government. Although it has not yet been adopted, the plan provides a good lens to explore the issues of farmland preservation. Read more. posted by Ed | Building broadband in rural Minnesota Minnesota's Center for Rural Policy and Development has released its latest tracking report on the deployment of broadband in rural Minnesota. If you are an EDPro in a rural area, you can use this report as a guide to launching your own analysis. Download a copy of the 2003 Rural Minnesota Internet Study from this page. Go. Minnesota Wireless represents a shining success story in the state. The company has grown to 430 employees and 300,000 subscribers. The company has successfully leveraged the state's Technology Catalyst Grant Program, which allocated $1 million to cover 25 percent of the cost of providing high-speed wireless Internet to nine rural communities. The state estimates that the program triggered an additional $6 million in private investment. The expansion of broadband into rural areas has been critical in keeping some growing rural companies competitive. As the CEO of Miiesota Wireless notes, ""You can participate in the global economy, and you don't have to drive into the Twin Cities." Learn more. posted by Ed | Bowling Green launches retention effort Using a program sponsored by the Cabinet for Econonomic Development, the Bowling Green Chamber is launching a new retention effort. The program includes a survey and a follow-up visit to about forty local companies. Learn more about how the survey will work. Go. posted by Ed | Tulsa's push for ED sales tax On September 9, voters in Tulsa will decide on a one-cent per dollar sales tax increase to raise $885 million for economic development. Funds could be used to provide direct incentives for American Airlines, the new 7E7 Boeing project, and to keep Citgo from moving its headquarters to Houston. The sales tax is designed to implement the Vision 2025 project. To find out what's included in the Vision 2025 project, review this page from the mayor's office. Go. Read about the Citgo deal. posted by Ed | American Airlines' problems spark competition Dallas, Tulsa, and Kansas City are all playing musical chairs. American Airlines is cutting its repair facilities from three to two. The music is about to stop. Here's the issue: How far do you go to keep a financially challenged company? Read more. posted by Ed | States are pulling the plug on retail cash incentives Texas EDPros operate with a powerful local option sales tax. Revenues from the tax can go to fund economic development projects. Up until now, these incentives could include cash grants to lure retailers. But those days are now over. Read more. The same is happening in California. The State Assembly has now passed legislation to bar cities from offering incentives to lure retailers from neighboring cities. Read more. Today in our history of innovation... In 1962, The Savannah , the world's first nuclear-powered ship, completed her maiden voyage from Yorktown, Va., to Savannah, Ga. posted by Ed | Web Watch: Connecting young professionals, developing new leaders Thursday, August 21, 2003 A group of young professionals in Greensboro has lanched a new web site designed to build networks and identify new leaders in the community. Visit the site. A similar effort is underway in Cincinnati. Read more. Here's the site (which is significantly less polished) that they have launched. Go. Here's a similar young professionals site from Rochester. Go. Perhaps the most ambitious site I located is in Philadelphia, where The Emerging Professionals Network wants to "re-create the ways in which the business, academic, workforce and student communities interact." Visit their site. posted by Ed | New Hampshire newspaper takes a close look at manufacturing Earlier this week The Nashua Telegraph completed an eight part series on manufactuing in the state. It provides some insights into the changing landscape that globalization is drawing. If you have time for only one article, read Skills seen as key to creating strong manufacturing sector. Other articles in the series are listed in the sidebar. posted by Ed | Massachusetts launches technology study A number of groups promoting in Massachusetts have banded together to fund a study on the state's science and technology strategy. Led by Batelle, the project will produce a report similar to Arizona's science and technology plan. (Positioning Arizona and its Research Universities: Science and Technology Core Competencies Assessment is available for download from this page.) Read more bout what Massachusetts is doing. Go. Today in our history of innovation... In 1913, William M. Burton patented a process to "crack" petroleum, converting oil to produce gasoline. Standard Oil used his method, and John D. Rockefeller made a bundle. posted by Ed | Savannah launches new logistics center Tuesday, August 19, 2003 Here's an example of the new types of partnerships that will be shaping economic development in the years to come: the Savannah Maritime Logistics Innovation Center (SMLIC) partnership. The center's research will focus on increasing security and productivity at the nation's ports. Through the center, researchers at three Georgia universities will work directly with the Ports Authority to develop new technologies for the efficient, secure movement of freight. Technologies developed iat the center, both hardware and software, will be evaluated and potentially implemented by the Georgia Ports Authority. Successsful technologies will be spun out into new businesses. Read more. posted by Ed | Loss of manufacturing jobs emerging as a campaign issue Trade and the loss of manufacturing jobs will become a major campaign issue next year. The evidence is starting to accumulate. Editors throughout the country are picking up more stories like this one of a furniture manufacturer in Minnesota. Go. And a New York Times report on the loss of support for Bush in South Carolina provides another indication. Read more. posted by Ed | North Carolina is handing out the cash In 2002, North Carolina shifted gears in its incentives for recruitment. Instead of relying on tax incentives (which are difficult to target), North Carolina launched a pilot program of cash grants. The program -- called J-DIG -- provides grants that are tied to the income taxes generated by the company's employees. The pilot program is limited to 15 companies and $10 million statewide. Here's a review of how the program is working so far. Read more. Meanwhile, in another development, North Carolina has committed over $60 million to train biomanufacturing workers. The money comes from the Golden LEAF Foundation. The Foundation is a non- profit organization that provides economic development grants using half of the money from the state's tobacco settlement. Learn more.. posted by Ed | Semiconductor hunt Where will a new semiconductor plant land? People in Pennnsylvania hope that it will be near Pittisburgh. It's a big deal: 3,000 jobs. Read more. Today in our history of innovation... In 1856, Gail Borden of Brooklyn, NY, patented his process for condensed milk this day. Borden's advertisign slogan -- "The milk from contented cows" -- was one of the great American advertising campaigns. And don't forget Elsie, the cow, Borden's famous mascot. posted by Ed | Austin moves toward sustainable agenda Monday, August 18, 2003 Count Austin as another place where sustainable growth is gaining ground as an economic development strategy. A funny thing happens when communities start thinking about sustainable growth: they also start rethinking the way they make decisions. Sustainability is about connections and networks: interdependence. The old hierarchical models of decision-making don't seem as appropriate. At least thats what the folks in Austn are discovering. Learn more. posted by Ed | Georgia's governor slips into super sales President Bush is facing a growing backlash on his economic policies. The signs are adding up that jobs and free trade are shaping into a major political issue for the 2004 election. Georgia's Republican governor is not waiting around. He's moving on a jobs agenda by selling the state. Stung by the Chrysler decision to delay the truck plant scheduled for Savannah, the governor has turned to selling. Chances are he'll be heading to California soon. Read more. posted by Ed | The stakes involved in the 7E7 For those of you involved in the 7E7 hunt, here's an excellent article from Technology Review on the business and technology issues involved with Boeing's decision. To my mind, the high stakes involved argue that Boeing will not relocate production away from Everett, now that Washington State has responded to its concerns. Read more. Today in our history of innovation... In 1960, Searle Drug Company marketed the first oral contraceptive. posted by Ed | Economy Watch Saturday, August 16, 2003 Two reports last week lent to some optimism among economists. Prices appeared stable, and the Federal Reserve Board reported that the industrial sector was strong in July. Meanwhile, the consensus is that the blackout will have minimal impacts. Here are some of the latest articles on the economy: Latest economic data encouraging news for budding rebound Slack economy holds Bush's only political hazard posted by Ed | Details on financing wireless network in rural Maryland Allagany County in rural Maryland knows how important telecopmmunications infrastructure is. The county's leaders still remember what happened when the first wave of interstate highway construction passed them by. They have vowed not to let this happen again, so they are investing in a wireless network for the county. Four public sector partners have banded together to build AllCoNet 2 , a countywide, "carrier class" broadband wireless network. It will provide coverage for 85 percent of the population and 90 percent of the county's businesses—most of which are concentrated in Cumberland, a city of about 21,000. Here are some details about how the project is being financed. Go. You can get more details on the project web site. Go. posted by Ed | Indiana adjusts to job losses to Mexico The loss of 195 jobs to Mexico is causing one Indiana community to reassess. State EDPros are right to focus on higher productivity, higher value jobs (which require continuous investments in brainpower). Read more. Some manufacturing operations that require routine skills will be difficult for us to hold. The one mistake in our thinking, though, is to lump China and Mexico together. Mexico has proximity and a low wage base, but little else. China has an enormous pool of low skilled labor and strong logistics (particularly in the Pearl Reiver Delta around Hong Kong). Wal Mart thrives off this combination. But China also has a sophisticated technology base and low wage, highly skilled workers, too. This combination is far more worrisome. Ten years ago, I was in Shenyang working with the UN Development Program. Shenyang is the site of General Motors' first Chinese joint venture, a business to assemble light duty pick up trucks from knock-down kits. The business turned out to be a disaster. Fast forward to Shanghai today. Now you can see on the streets a Shanghai Buick with the fit and finish equivalent to Buicks in the US. That spells trouble. posted by Ed | Rochester uses PGA to lure site selectors Here's what's happening with site selectors this weekend...some touring, a little wine and cheese, and a lot of golf. Read more. posted by Ed | Florida's dog and pony show Florida's leadership is undertaking a flawed process to come up with a strategic plan for the state. As I have suggested earlier, this deal smells like too much politics. The Secretary of State announced that she would be holding eight meetings across the state to come up with a statewide economic development strategy. Here's the reporter's description of the second meeting: "Politics wasn't far beneath the surface Friday. Speakers pointed out Republican legislators in the crowd of 200..." And then the head of Enterprise Florida chimes is with ""Florida's destiny is to be the state of the 21st Century." Gibberish. People don't want more words. They want action. They don't want slogans. They want realistic initiatives. The core problem in Florida is the same as states like Louisiana, Missouri and Kentucky. The state needs to improve the technology base at its universities by investing more aggressively in research, technology transfer and innovation networks. Dog and pony shows don't cut it. Read more. The learn more about the real challenges in Florida, read about the recent demise of University Park. State leaders would be far better of exploring why this initiative failed, how plans for Innovation Park can be supported effectively, and what can be done to improve the level of collaboration in the state. Go. posted by Ed | Durham NC explores sustainable growth The chamber in Durham has appointed a 20 member council to explore how to set the community on a path of sustainable growth. The chamber exec describes the council's job this way: The council will look into how to help the community develop in such a way that future generations will be able to grow as they see fit. Sustainability is a slippery concept that needs to be clarified, and the Durham chamber is doing a good job explaining its purpose. Here's what the chamber board chair says: "A sustainable local economy provides jobs for the community's citizens, generates revenue to support community goals, reduces residential tax burden to make the community more affordable and provides goods and services conveniently to minimize transportation costs and negative environmental impact." In Charleston, SC we are addressing this ame issue by using the term "quality growth". Our Charleston regional report should be complete in about a month. Read more about the Durham, NC effort. Go. Today in our history of innovation... In 1928, the first air-conditioned office building in the U.S. opened in San Antonio, Texas. posted by Ed | Ashland University boosts ties to China Friday, August 15, 2003 Ashland University in Ashland, Ohio will host eight Chinese managers for week-long executive training course. This initiative grew out of an effort of the Ashland Department of Economic Development to boost exports from Ashland County. This connection should be exceptionally strong for Ashland. The delegation is from Tianjin, a major business center on China's coast. Ashland County is not big. Located in North Central Ohio, 70 miles southwest of Cleveland, the county has a population of 52,000 with an employment base of 17,000. About one third are involved in manufacturing. Ashland is located in the heart of Ohio's traditional, skilled-manufacturing sector. This effort represents the new wave in economic development...building global networks. Read more. You can visit their economic development web site. Go. Or, visit the Ashland University web site. Go. posted by Ed | Davenport builds its innovation infrastructure Davenport, Iowa is building a new infrastructure to support innovation. The new effort will provide help in technology assessment, the trickiest part of bringing new technologies to market. Learn more. Here are excerpts from the article: Based in a new two story building, the New Ventures Center will help launch start-up businesses that want to bring new products and technologies to market, especially biotechnology. The center also will provide space for new companies. Clients of the Center will get help in determining the viability of their technologies. The Center also will provide help with market research, management planning, financial projections, and getting companies ready to make presentations to potential venture capital investors. Today in our history of innovation... In 1877, Thomas Edison coined the telephone greeting "Hello." He suggested the use of "Hello" to the president of the Telegraph Company to answer the phone instead of "Ahoy" suggested by Alexander Bell. posted by Ed | Celebrity economic development Thursday, August 14, 2003 An EDPro in North Carolina wants to raise $60,000 locally for a half page ad in USA Today. The ad would be an "open letter" to Bill Gates, Warren Buffet and Oprah Winfrey. The letter would explain the county's situation, hard hit by textile closings. Read more. This approach doesn't make much sense. There aren't any gimmicks or quick fixes in economic development. (Besides, there's the problem of bad timing. Bill is really busy with the LovSan worm, so he probably won't be reading much beyond books on computer security. Warren is tied up with Arnold as his economic adviser in California. He can't be caught stealing companies. And Oprah is committed to pushin Martha to the sidelines with her new home decorating magazine "O at Home".) posted by Ed | We need new models for downtown development Building downtown used to be based on retail strategies. Recreate retail space to compete with suburban shopping malls. But "big box" retail presents too strong a pull. People are not going to come downtown to shop. Convention centers...also a component of traditional downtown strategies are turning out to have limited impacts. They typically operate at a loss and their impact is generally limited to hotels. (Translation: low wage jobs with limited upward mobility.) We need new downtown development models that are based on mixed uses: office, manufacturing, residential, retail. All of these spaces need to be mixed together with good design to create interesting places for business development. Yesterday's story about Dayton represents one city trying to develop a new model for downtowns. Duluth, MN provides another. Read more. posted by Ed | Texas and the 7E7 "When McCallum Sweeney, Boeing's 7E7 site-selection consultants, delivered the 37-page request for proposals to the Texas Economic Development office in late June, several sources said they also relayed an intriguing request: Be sure to include information on Harlingen, a small community in the southernmost corner of Texas." Here's some background on Texas and the hunt for the 7E7. Read more. Today in our history of innovation... In 1953, David Mullany invented the whiffle ballfor his 13-year-old son. The whiffle ball is a plastic ball with holes that curves when it is thrown. posted by Ed | Dayton launches ambitious dowtown tech park Wednesday, August 13, 2003 Here's a good article on Dayton's effort to develop a downtown technology park. This project will be interesting to track. It is geared toward smaller companies and entrepreneurs. Dayton planners are looking at Evanston, Ill., which launched the Northwestern University/Evanston Research Park in 1986. The 22-acre site isabout half the size of Dayton's Tech Town. The Evanston park has 1,000 employees in technology-related companies and about 500 in service-related jobs. Unlike Tech Town, it includes residential units and also has a large cinema. Tech Town will have some retail, but no residential development. Read more. posted by Ed | California on the defensive Not surprisingly, states and cities are targeting California. "It's chum in the water," as one California EDPro comments. Read more. Go Today in our history of innovation In 1889, William Gray of Hartford, Connecticut, received a patent for a coin-operated telephone. posted by Ed | Consultant pushes design businesses for Wake Forest, NC Tuesday, August 12, 2003 Angelou Economics is proposing a focus on design industries for the home county of Wake Forest, NC. Instead of focusing too much on biotech, the consultant recommends developing design businesses with North Carolina School for the Arts as an anchor. In addition, the consultant recommended two other business clusters: a) logistics and distribution and b) hospitality and tourism. Read more. Or, Visit the project web site. This report is part of an eight county Comprehensive Economic Development Strategy (CEDS) funded by $280,000 from the Economic Development Administration. posted by Ed | Web Watch: GIS site for Northeast Pennsylvania Here is a really powerful and well constructed site that uses a geographic information system (GIS). It's used for regional marketing, planning and economic development. Developed by the MAP Center at King's College, the site provides easy navigation and exceptionally good graphics. Visit the site. posted by Ed | Manufacturing job losses hit rural areas hard In the early to mid 1990's rural areas gained over 150,000 manufacturing jobs. Then, starting in the late 1990's, the trend reversed. Since 2000, manufacturing job loses have hit rural areas hard. In urban areas, factory shutdowns accounted for 25% of all manufacturing job loses. But in rural communities, plant closures accounted for 45 percent of all manufacturing job losses. Urban centers lost 8.9 percent of their factory jobs between 1998 and the end of last year. But rural towns have lost 13.4 percent of their manufacturing employment. Read more. posted by Ed | Alabama governor tries a fundamental shift Govenor Riley is a Republican running in a different direction. He wants to make a fundamental shift in the mindset of Alabama economic development, and he is proposing tax increases to get him there. Opponents say the tax increases are large enough to "gag a mule". The Boeing deal highlights the shift. Although Boeing would be exempted from any proposed tax ncrease, the governor is proposing that increased tax revenues fund education improvements. Riley may go down in flames on this one, but he is on the right track to change the economic development game. It's time to shift our thinking from incentives focused on companies to investments focused on individuals. Read more. Today in our history of innovation... In 1981, IBM introduced the PC personal computer. posted by Ed | This just in: Kansas is flatter than a pancake Monday, August 11, 2003 Kansans are outraged at a research study that scientifically concludes that the state of Kansas is flatter than a pancake. Read more. As EDPros, we need to take this "bad news" as a challenge. We can turn this around with a little smart marketing. Here are some ideas: Come to Kansas...We have the best gas mileage in the country. Come to Kansas...We've got the shortest water lines on the planet. Come to Kansas...You'll never feel lost (even though you may be). Come to Kansas...If you love mountains, we've got pictures. Come to Kansas...Step on a tuna can, and you can see for miles. posted by Ed | Economy Watch Today, I'm launching Economy Watch a new feature of EDPro Weblog. The purpose of Economy Watch is to give you a quick round-up of articles on the national economy. Each week, I'll publish a list of articles for your review. This feature will help you keep up with the latest analysis. EDPros need to be informed of national economic trends, even as we focus on the details of individual initiatives and projects. I will select these articles from the best economics writing in the past week. Here's the list for this week. Business steps up to help economy Joblessness lingers despite recovery Economy could be hurt by rise in interest rates Rising interest rates threaten tepid economic recovery Bush's economic report card mixed posted by Ed | Colorado governor and Denver mayor assess their California trip In a joint assessment, Colorado's governor and Denver's mayor hail a new partnership in Colorado. They go on to discuss their recent 2 day trip to California. They visited with representatives from about 50 companies. In the context of California's political meltdown, seeing a Republican governor and a Democratic mayor working together must have been a sight for sore eyes. Read more. posted by Ed | A personal note: Moving to a new challenge Saturday, August 09, 2003 Last week, I embarked on a new challenge...heading the Center for Regional Economic Issues (REI) at Case Western Reserve University. Read more. The opportunities we have to create powerful, new approaches to economic development are exciting. A new president, Ed Hundert, provides young, energetic leadership to the university. REI sits in the middle of the Weatherhead School of Management at Case. We have deep resources and experience on which to draw. Along with my appointment, Weatherhead has hired Scott Shane. Scott was professor and chair of the Entrepreneurship Department at the University of Maryland. (You can read more about Scott here. You can learn more about the Weatherhead School here.) Along with Scott, REI has a large number of Weatherhead faculty engaged in the Center. They include faculty with deep research and consulting backgrounds in economics, entrepreneurship, organizations, and leadership. We also have a staff of six professionals and ten graduate MBA and PhD students. Finally, we have a network of independent consultants with whom we work. All of these resources are made possible by core funding from the SBC Ameritech Foundation, Cleveland Foundation, and the Gund Foundation. The Center is in fine shape even after the tragic loss of the previous director, Richard Shatten. Richard was an exceptional person. Although I knew him only briefly, he worked closely with my older brother, Hunter, in the revitalization of Cleveland. A former McKinsey consultant, Richard brought an amazing talent to our field of economic development. In following Richard, I am well aware of the legacy he left and the need to build on his good work. If you have a moment, read more about Richard. You will leave the tribute inspired. Read more. I'm dedicated to building the Center in the direction Richard established. We need quicker, cheaper, better tools for EDPros to use. These new ideas need to reach down to the neighborhoods, the rural counties, the street level. We need new insights into how to cope with a world in which brainpower and innovation drive prosperity. And we need new ways of thinking about how to build our communities in a networked world where connections really do matter. Finally, we, as economic development professionals, need new ways to connect to each other. There no experts anymore. The best way to learn about economic development is from other economic developers. The Center will be using Northeast Ohio and other leading edge communities and regions as a "beta sites" to develop these new approaches. One of the big challenges we face will be learning how to expand what we know works well. These are truly exciting times for economic development. I look forward to working more closely with my older brother, Hunter, who heads an urban and regional center at Youngstown State, and with my younger brother, Thompson, with whom I have been pioneering new Internet applications for EDPros through i-OP. (Our work on compensation for EDPros is an example.) I will be continuing to publish EDPro News and this weblog. More and more EDPros are sending me notes and stopping me at meetings to tell how much they like this Weblog. Thank you. As we relaunch the Center's web site this September, I will keep you informed of what we are doing through this weblog. It's only the beginning. One last point: An executive search firm, Grisham and Prout, recruited me to this position. Over the years, executive search -- "head hunting" -- has generated constant complaints among EDPros. Indeed, as a profession, we have probably not attracted the best executive search firms. My experience with Pat Prout, however, was different. Pat, a graduate of the Naval Academy and a Harvard MBA, handled the details of my recruitment promptly and professionally. I encourage other ED organizations to use his firm. Learn more about Pat. posted by Ed | Sharing information on compensation and benefits for EDPros Yesterday, I was down in Mt. Sterling, KY for the summer meeting of the Kentucky Industrial Development Council. I reported on a salary and compensation survey I completed for Kentucky EDpros. Not surprisingly, Kentucky EDPros lag their national colleagues in base compensation and benefits packages. By sharing more information, EDPros can improve negotiations. For wexample, we found that in Kentucky, EDPros need to bolster their benefit packages, and that this challenge is most critical in organizations withoperating budgets under $250,000. You can go through my slides. Make sure that you set your browser to full screen. The navigation buttons are on the lower right. Go. If you want to review our national compensation and benefits data, start on this page. posted by Ed | KIDC names new director Kentucky's economic developers have chosen new leadership for the Kentucky Industrial Development Council. Rich McCarty is the new Executive Director/CEO. Prior to joining KIDC, Rich served as Commercialization Director and Financial Incentives Manager for Greater Louisville, Inc, (GLI) the Chamber of Commerce and Economic Development organization serving the Metropolitan area of Louisville and Southern Indiana. Before his career at GLI, McCarty held various Management positions with UPS in Louisville Following a strategic assessment completed by Mark James and me, KIDC decided to elevate the visibility and activities of KIDC. (Former director of economic development for American Electric Power, Mark provides a very practical and focused approach to economic development issues. Learn more about Mark from his web site. Our hope is that KIDC will also begin to partner with other state associations to develop joint programs, as well as leverage the Internet to provide more and better services to its members. posted by Ed | Rural areas need to get ready for the knowledge economy Last week, a government official warned his rural collagues: Get ready for the Knowledge Economy (K-Economy). “In the K-Economy, knowledge, creativity and innovation are important factors stimulating profits. It does not depend on productivity-related factors such as land, labour or capital." Question: What country does the government official represent? Answer: Malaysia. People all over the globe are figuring out that in a global economy, brainpower and innovation are the only competitive advantage that any region has. Read more. posted by Ed | Florida streamlines minority development programs Florida is launching a new initiative to promote business development in the African American and Hispanic communities. The initiative represents another example of pressure to streamline ED organizations. Access Florida will bring more than 30 minority organizations together under one initiative. For EDPros, the days of going it alone are over. Read more. posted by Ed | Maryland connects with Korean bio Here's another example of how states and regions are forging their own foreign economic strategies. last week, Maryland hosted about 45 companies from the state and South Korea to discuss ways they could develop partnerships. During the session, Maryland announced that, by the end of August, a privately held Korean biotech company will occupy space in the Maryland Technology Development Center, a business incubator for high-tech companies. Read more. Today in our history of innovation... In 1910, Alva J. Fisher of Chicago patented the electric washing machine. posted by Ed | Growth area: Export market development Thursday, August 07, 2003 In one area of economic development, we are far behind: export assistance. generally speaking, no matter where you look -- Europe, Canada, Australia, New Zealand, for example -- economic development organizations abroad have far better support for exporters. As market globalize, EDPros who recognize the opportunities in export market development will be ahead of the game. Figuring out foreign market entry strategies is not difficult, but it does require some specialized skills and experience. Read about how global markets are shifting the outlook of one manufacturer in Erie, PA. Go. posted by Ed | Florida begins strategic planning process Florida leaders want a state plan to diversify their economy. Next week, Florida state officials will start a series of eight regional workshops to begin the planning process. Secretary of State Glenda Hood will lead the effort. Here's what she says: ''It's not a plan to sit on the shelf. It's a strategic plan and initiative that will be a road map for economic development in this state.'' We'll see. She plans to finish the planning process by the end of the year. Read more. (Count me as cynical, but it sounds more like an effort to strengthen Hood's statewide visibility.) Today in our history of innovation... In 1807, the first working steamboat, the Cleremont, went on first voyage. posted by Ed | We need a new rural development model Wednesday, August 06, 2003 Minnesota Rural Summit is taking place this week. The USDA official that oversees rural development called for a rural economic development model that relies less on selling agriculture commodities and more on commerce that exploits the Internet to compete nationally and globally from rural areas. Read more. You can visit the Minnesota Rural Partners web site, or visit the 2003 Summit web site. The online resources of the Summit web site contains a lot of good material on rural entrepreneurship. posted by Ed | Boeing watch Everett, WA is speeding construction of its new pier for Boeing. The new pier and rail spur, expected to cost some $16 million, would be used to handle over-sized containers of jet parts shipped from overseas for the 7E7. Read more. posted by Ed | Web Watch: Savannah GIS Tuesday, August 05, 2003 More and more communities are turning to geographic information systems (GIS) to display properties. Here's a system in Savannah that integrates a wide array of data. Read more about the Savannah-Area Geographic Information System project, or SAGIS. Go. Or, visit the site. Today in our history of innovation... In 1986, William J. Schroeder of Jasper, Ind., the world's longest-surviving recipient of a permanent artificial heart, died after living 620 days with the Jarvik-7 man-made pump. posted by Ed | Nobody loves you when you're down and out.... That's the theme song for California Technology, Trade and Commerce Agency these days (and they are numbered). Here's an e-mail that is making the rounds among EDPros: "As expected, the Governor signed the budget that was passed by the legislature. Pursuant to the budget and its trailer bills, the entire California Technology, Trade and Commerce Agency (and its 12 foreign offices), will cease to exist by December 31, 2003 (or earlier if possible)." You may remember that this is the agency under fire for incompetence and patronage. The situation got so bad, not even the agency's friends on the outside could defend it. posted by Ed | Political philosophy collides with political realities What happens when political philosophy collides with political realities? Sweaty palms. At least, that's what it looks like in South Carolina. Governor Sanford is trying to decide whther to sign a bill that grants tax credits to a troubled steel mill. Put the text books away. This is the real deal. Let's see what Governor Sanford does. Read more. posted by Ed | Homeland security incubator launched in Maryland The Chesapeake Innovation Center (CIC) has opened in Annapolis, Maryland as the nation's first homeland security business incubator. The CIC focuses on growing firms specializing in the development of homeland security technology. To accomplish its mission, the incubator has formed partnerships with the National Security Agency, Nokia/Innovent (Nokia's incubator), Johns Hopkins University, and the University of Maryland. Learn more. posted by Ed | Kansas City's effort to build life sciences Building a compeititve position in life sciences is complex, and it takes a lot of money. Kansas City is finding out. Here's a good review of their efforts. Go. Today in our history of innovation... In 1914, a lighting ceremony was held for the first electric traffic lights used to control the flow of different streams of traffic. They were installed in Cleveland, Ohio, at the intersection of Euclid Avenue and East 105th Street by the American Traffic Signal Company. These traffic signals had only red and green lights, reinforced with a warning buzzer. posted by Ed | Investing in curb appeal Monday, August 04, 2003 Despite budget belt tightening, many Metro Detroit communities are spending substantial dollars to spruce up landscaping, add brick pavers and new street lights, repair sidewalks and plant flowers along medians and boulevards. As one city manager notes, "The bottom line is property values. If the community is looked at as desirable, it increases the property values and tax base. Property values are essential in every community, and if you let (things) go downhill, that takes property values away." Read more. posted by Ed | Economists: Incentives work for large scale manufacturing In a review of recent incentive deals, two economists conclude that recruitment incentives tend to make sense from a local perspective. They suggest that offering incentives to large manufacturers pays off for local governments through wage increases and higher property values. They also see a slight increase in education spending. Their paper generally refutes the notion that granting incentives to manufacturers damages the financial health of local governments. The paper -- Bidding for Industrial Plants: Does Winning a 'Million Dollar Plant' Increase Welfare? by Michael Greenstone and Enrico Moretti -- examines the impact of the "million dollar plants" highlighted in each issue of Site Selection magazine. (Their conclusions do not imply that incentives make sense from a national perspective, though.) Read more about the report. Or, download the original study. posted by Ed | Colorado sees opportunites in California Colorado is another state that sees an opportunity in California. The governor and the new Denver mayor or planning to lead a delegation next week. Here are the details of their trip. Read more. posted by Ed | Funders to EDPros: Eliminate the overlaps and confusion More and more EDPros are going to be trying to sort out the bewildering array of economic development organizations in their region. Funding is the main factor driving this trend. On the public side, we can expect to see more newpapers raising questions about how public dollars are being investing in economic development. The main theme: "Too much confusion, competition and overlap." Private funders, including foundations, are demanding measurable returns for their investment. Dollars are no longer "free". So they are also going to be less patient about overlaps. To get ahead of the curve, EDPros need to start mapping their landscape and figuring out how to design more flexible and responsive systems. These systems will also need to shift focus from recruitment to retention. Here's a good article from Arizona. Go posted by Ed | Seeing globalization from Hattiesburg Because of the impacts of globalization, EDPros all over the country are trying to figure out the implications. The folks in Hattiesburg, MS are a good example. Phil Pepper, Mississippi state economist notes that state economiuc development programs do not capture the new realisties, "Our system is set up for what we needed 40 years ago. The state needs to recognize that the world is changing around us and we need to change with it." Angie Dvorak, vice president for research and economic development at the University of Southern Mississippi sees the change this way: "I think we're drawn to huge capital projects with big plants and big numbers. The pattern is going to be more, smaller companies with fewer employees and local businesses with higher salaries." Here's more on the perspective from Hattiesburg, MS. Go posted by Ed | Global pressures increase We can expect that the "loss of jobs" from globalization will turn into a campaign issue next year. The popular press is starting to understand that globalization carries impacts beyond low end manufacturing. Higher end business services and research jobs are involved. The focal point will also be moving away from Mexico and toward India. It takes a while for business journalists to catch up to global trends. Outsourcing higher end jobs to India is not a new development. Larger companies have been doing it for some years. For example, Cisco Systems’ global development center in Bangalore has teams working on everything from optical technology development to chip design and hardware design. At any one time the center conducts more than 100 projects for Cisco’s business units. We are also starting to see business journalists connect the dots between globalization and the slow pace of our economic recovery. As companies expand overseas, rather than here, the job gains from expansion happen elsewhere. The chief economist for Economy.com notes, "The wholesale movement of jobs and production overseas is handcuffing the recovery." (See this recent article form the New York Times.) Here's an article that appeared yesterday in Florida about the loss of higher end jobs to India. Go. Today in our history of innovation... In 1922, every telephone in the U.S. and Candada went dead as AT&T and the Bell System shut down all its switchboards and switching stations for one minute in memory of Alexander Graham Bell, who had died two days earler. During this time, none of the 13 million telephones in operation could be used. posted by Ed | Web Watch: Greater Louisville, Inc. Saturday, August 02, 2003 Greater Louisville Inc has launched a new portal that is graphically engaging, but I'm not sure how well it works in practice. Graphic metaphors are intriguing, but they have not been all that successful. They are often unclear or confusing. The only way to be sure is to test the site with users. With GLI's new site, isitors to the main page will find buildings in the forefront that work as links to pages with more detailed information on various subjects. For example, clicking on the Clock Tower Building takes the visitor to information about GLI's Enterprise Corp., the Greater Louisville Small Business Development Center and other resources for small business leaders and entrepreneurs. Clicking on the bridge will take people to a page on regionalism. Visit the site. To learn more about web usability, visit this site. posted by Ed | Web Watch: Plan for a New Pennsylvania Web sites are becoming an increaingly important way to market new economic initiatives. Earlier, I pointed to the web sote for Energize Indiana. Visit Energize Indiana. Pennsylvania has a similar site for Governor Rendell's strategy: Plan for a New Pennsylvania. The strategy reduces property taxes by increasing the state funding given to school districts. The approach reduces the inequities between wealthy and poor school districts. The strong feature of this site is an online calculator that provides detailed, customized information on the impact of the governor's plan. You submit where you live and how much you earn, and the calculator explains in detail the impact of the program. One glaring weakness: the site does not offer e-mail updates on the progress of the plan. (The Energize Indiana site has the same weakness.) Visit the Plan for a New Pennsylvania site. Here's an overview of the Plan for a New Pennsylvania, prepared by Pennsylvania State University. Go. posted by Ed | U.S./U.K. incubator competition Here's another example of how economic development organizations are building global alliances. The Fairfax County Economic Development Authority (FCEDA) and Invest.UK, the British government's economic development arm, have organized an annual Touchdown competition. Here's the idea behind the competition: pick a winning company in the U.S. and the U.K. The winners receive a free year of rent and support. The U.S. winner will be awarded a choice of a U.K. incubator or science park best suited for the company's international expansion. The package will likely include one year's free rent, management services; lab space and equipment; access to support staff, facilities and conference rooms, access to valuable advice and a ready-made business network. The British winner, which must be a biotech company, will get a free year of rent and business development services in the Fairfax County BioAccelerator, a bioscience business incubator. Eight Fairfax County technology companies have entered the competition to win space in a British business incubator or science park. Nineteen science parks and business incubators in England, Wales and Northern Ireland are participating this year as possible touchdown points for the Fairfax County companies. In addition, seven U.K. companies are competing for space in the Fairfax County BioAccelerator. Learn more. Today in our history of innovation... In 1892, Charles A. Wheeler patented ideas for the first practical escalator, though it was never built. Some of its features were incorporated in the prototype built by the Otis Elevator Company in 1899. posted by Ed | Iowa Values Fund starts investing Friday, August 01, 2003 The board of the Iowa Values Fund, a $503 million pot of funds, has met and agreed to their first investment: an expansion of Wells Fargo mortgage operation in Des Moines. Both the location and the type of investment have drawn some heat. These three articles will get you up to speed. Article 1, Article 2 and Article 3. posted by Ed | Competing in manufacturing "Manufacturing is not dead." "We need to support and recruit the kinds of manufacturing companies that can grow and prosper in this global economy." That's the view from North Carolina Commerce Secretary Jim Fain, and he's right. This is a good position for us as EDPros. The North Carolina economy has been reeling from plant dislocations as more and more manufacturing plants shrink or close. To compete, manufacturers will have to be more innovative, sophisticated and nimble. The plant closings have hit hard in those businesses that participated in the first wave of migration to the South after World War II. These plants are predominantly in relatively low wage businesses like shoes, apparel and textiles. All across the South, and particularly in rural counties, these plants have been closing. They leave behind large economic gaps and underskilled workers. This article is part of a series on the impact of globalization on North Carolina's manufacturing businesses. Read more. At the same time, places like Campbellsville, KY have begun making the adjustment. For fifty years, people sewed underwear. Then Fruit of the Loom closed. Read this article from Fast Company . posted by Ed | A good perspective on clusters Here's an insightful article on clusters. Appearing in an Australian business publication, this article gives a balanced view of what clusters are, why talk about clusters has emerged now, and the debate about what (if anything) we can do to promote their growth. Read more. Today in our history of innovation... In 1893, Henry Perky of Colorado and William Ford of Watertown, NY, patented shredded wheat. The cereal is composed of whole wheat which has been boiled, partially dried, then drawn or pressed out into thin shreds and baked. It was shown at the World's Columbian Exposition of 1893 in Chicago, Ill. posted by Ed | |
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