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Nanotechnology manufacturing campus in NY
Friday, October 31, 2003 Work continues to prepare a site for chip fabrication and nanotechnology development in upstate New York, near Albany. EDPros hope to make the 1,350 acre Luther Forest Technology Campus into a major manufacturing center for 10,000 jobs. They are in the final stages of the land use planning process. Learn more. The master plan retains approximately 50% (885 acres) of open space, including 619 acres of wooded area, 18 acres of public recreation, 8 miles of pedestrian trails and 100+ acres of park preserve area. Learn more about the project from the Saratoga Economic Development Corporation. Go. posted by Ed | Funding for ARC Here's an update on federal funding for the Appalachian Regional Commission. The Bush Administration wants to transform the ARC from a grant-making agency into a regional planning body. The Administration also wants the Commerce Department’s Economic Development Administration to focus on a narrower geography. Learn more. posted by Ed | Efforts to develop Northern Kentucky's high tech triangle Northern Kentucky is the state's most dynamic regional economy, and it is pushing hard to develop its technology-based economy. Part of the effort involves a regional strategy developed by Angelou Economics. Another component is developing a "technology triangle" near Northern Kentucky University. But developing a new appraoch to economic development requires a new consensus on strategic direction. Learn how the leading elected offical in Campbell County is starting to focus resources. Go. posted by Ed | Business plan competitions Business plan competitions are a proven approach to building a more innovative, entrepreneurial business climate. In Southwest Pennsylvania, the state supports the WriteIdea award to accelerate the business start-up process of women entrepreneurs. Learn more. Article 1, Article 2 and Article 3. In Michigan, Great Lakes Entrepreneur's Quest focuses on another audience: technology-based businesses. Quote from the director, a former executive with two Fortune 500 companies: ""We think this has become one of Michigan's best tools for creating new companies". Read more here and here. Visit their web site. Go. In Singapore, a business school is using a business plan competition to create a more entrepreneurial business climate there. Read more. posted by Ed | World competitiveness rankings According to the World Economic Forum, Finland is the most competitive economy in the world, followed by the United States, Sweden, Denmark and Taiwan. That's the conclusion of The Global Competitiveness Report 2003-2004, released yesterday. Read more. Today in our history of innovation... In 1933, James Borglum completed Mount Rushmore -- with the monumental heads of four U.S. presidents Washington, Jefferson, Lincoln, and Theodore Roosevelt -- carved on the face of a mountain near Keystone, S.D. His father, Gutzon Borglum, started the project but died eight months before it was completed. posted by Ed | Wisconsin's Economic Summit IV white papers Thursday, October 30, 2003 Wisconsin is holding its fourth annual summit, and you can download a series of white papers from the conference. The papers cover a wide range of issues, but the best one is "A Regional Economic Growth Strategy: Does It Make Sense for Wisconsin?" Iy does a good job exploring some of the challenges of regional economic development. In addition, you can download white papers from the previous three summits, as well. Go. posted by Ed | Minnesota report on start-ups A report compiled by the Minnesota Department of Employment and Economic Development finds that start-up companies have some common traits. They include: -- more than $100,000 in start-up capital -- owners who seek advice from outside experts -- firms that start with fewer than five employees -- firms that use outside sources of financing, such as commercial bank loans -- firms that produced new or improved products or services, and -- firms that had access to high-speed Internet services The report is based on a survey of almost 1,700 companies statewide that opened between 1994 and 1998 and were still operating in 2001. Read more. Download the report. Go. posted by Ed | Pittsburgh fellowship taps ideas of young professionals Now here's an interesting idea. Pittsburgh is funding a fellowship program to get the ideas of young professionals on how to improve the region. Read more. You can download their presentation to the City Council. Go. posted by Ed | Oregon governor announces new workforce strategy Oregon lags behind most states in investing in workforce development, according to the governor. With his new strategy, he's out to change things. Among other steps, he wants to create a state fund to respond quicky to the training needs of Oregon firms. Learn more. Here's what appears to be missing: a focus on work skills certifications. posted by Ed | Council of Competitiveness launches national innovation initiative At its annual meeting, the Council on Competitiveness announced a new 18 month initiative to focus on defining a new national strategy for innovation policy. Good quote from the Chairman and CEO of IBM, Samuel J. Palmisano, who will lead the initiative: "I believe -- and I'm not alone -- that innovation is the best way to spur job growth. I have no crystal ball to tell me what industry or industries will create the next boom in job creation. But I'm confident in predicting that innovation will be the engine." Learn more. Here's another article. Go. Today in our history of innovation... In 1888, John L. Loud of Weymouth, MA, received the first U.S. patent for a ballpoint pen. posted by Ed | Proposal for grid computing in North Carolina Wednesday, October 29, 2003 Grid computing is the next level of Internet development, and it offers major new opportunities in computing power. It involves linking computers together so users can summon computing power when they need it. North Carolina's Rural Internet Access Authority released a report today indicating that grid computing could generate major new opportunities in the state. The projections are mind boggling: $10 billion added to the state economy and 24,000 new jobs within seven years. To acheive these gains, the report argues that North Carolina should invest aggressively in high speed Internet and boost the skills of the workforce. Learn more here, here and here. posted by Ed | Wisconsin's clusters State economic development policy in Wisconsin will focus on seven established clusters and three emerging clusters. The established clusters: dairy, food products and processing, paper, plastics, printing, small engine manufacturing and tourism. The emerging clusters: biotechnology, information technology, and medical devices. Read more. posted by Ed | More on RTP's 8 targets Here's another article on the strategy being developed by Research Triangle Regional Partnership. Go. Today in our history of innovation... In 1879, inventor Thomas Edison first publicly demonstrated his electric incandescent light in Menlo Park, New Jersey. posted by Ed | Web Watch: Union County, OH Tuesday, October 28, 2003 Here's a good example of a well-designed, integrated site that also delivers useful information on buildings and sites. The site combines economic development, chamber of commerce, and tourism. On the back end, the site integrates Procure, a database originally developed by American Electric Power, under EDPro Mark James. Visit the site. Go. posted by Ed | Northwest Indiana focuses on high speed Internet Not surprisingly, high speed Internet access has become a keep factor driving business location decisions. Bill Hanna, EDPro for the city of Valpariso in northwest Indiana, puts it this way: "The bottom line from an economic development view is that providing high band access boosts the capabilities of existing businesses and helps attract new ones as well." Read more. Yet, despite its importance, the U.S. lags Canada in rolling out broadband. Here, regional carriers are more risk averse than Canada. (Read one perspective from Canada. Go.) INdiana INterconnect is leading Inidiana's push into broadband. Visit their site. Two presentations from their recent conference focus on funding opportunities. Go. posted by Ed | The Blueprint Mississippi initiative Last Thursday, business and education leaders in Mississippi started an effort to revise the state's economic development plan. They will present their recommendations to the legislature during its next session. Early indications are tha the Blueprint Mississippi initiative will focus on increasing state support for worker training. Read more. posted by Ed | Economy Watch Monday, October 27, 2003 Here's the best articles on the economy from the past week: Don’t tell Greenspan, but economy strengthens Wage increases boost national economy In ways, weak economy aids entrepreneurship Economy for ’04: Blasé House Panel Debates Effect Of Losing US Jobs To Overseas Is Offshoring The Major Reason For IT Unemployment? posted by Ed | Florida fails to pass superfund Saturday, October 25, 2003 While Governor Bush got his package for the Scripps biotech deal, he was unable to convince the legislature to give him authority over a $190 milllion blind pool for economic development deals. Learn more. posted by Ed | Report on financial services in North America The Toronto Financial Services Alliance (TFSA) is a public-private initiative established by the City of Toronto's Economic Development Division in 2001. Its mission is to enhance and promote the competitiveness of Toronto as a North American financial services center. Earlier this year, the TFSA retained an outside consultant to conduct an electronic survey of its members to explore key location criteria for the financial sector. Their report, released this week, provides some insights into how the financial services industry in North America competes. You can download the report from this page. Go. posted by Ed | Pennsylvania's e-business initiative: DynaQuote Pennsylvania is perhaps the leading state in implementing e-business as an economic development strategy. The Center for eBusiness and Advanced IT is a state-sponsored economic development organization that extends eBusiness opportunities to small and mid-sized businesses. The Center has some interesting inititiatives underway. One involves an electronic supply chain tool, DynaQuote. It is a a web-based business-to-business (B2B) “reverse auction” tool. In a reverse auction qualified sellers bid against each another through the Internet to sell their goods and services to buyers by offering the lowest price. Ebay is the most well-known example of Internet online auctions; reverse auctions switch the places of buyer and seller and bidding goes to the lowest price. With this tool in place, the state hopes to make Pennsylvania companies more competitive. The Center has surpassed $1 million in business through DynaQuote, and it estimates savings of $250,000. Learn more. posted by Ed | Details on American Airlines maintenance hub deal Kansas City and the State of Missouri have a complicated deal to save the American Airlines maintenance hub in Kansas City. The 25-year agreement calls for Kansas City to arrange bond financing for $40 million. The financing will be used to outfit the facility to handle wide bodied jets. The financing requires $3 million in annual debt service. The City will pay $2 million, and American will pay $1 million. The City's $2 million is a combination of sales taxes and state development tax credits. American has made some commitments on maintaining employment at the base, but it seems that people are confused about this point. If jobs fall below 700, the agreement triggers a partial reimbursement from American. Read more. posted by Ed | St. Louis biotech corridor St. Louis is continuing its development push into the life sciences. This week, the Missouri Development Finance Board authorized $12 milion in tax credits for a biotech corridor. The idea was launched in 2002, and now developers are expecting the first construction within 18 months (in 2005). Washington University, University of Missouri-St. Louis, Missouri Botanical Garden, Barnes-Jewish Hospital and Saint Louis University are joint partners in CORTEX, the major promoter of the project. CORTEX will limit its role to land assembly. The $12 million in tax credits are designed to leverage $24 million in investment capital ($1 tax credit awarded for every $2 of investment). The CORTEX partners have pledged an additional $29 milllion. The City of St. Louis also has committed up to $10 million in in-kind funding. CORTEX will also seek federal economic development assistance for the project. Read more. Learn more about St. Louis biosciences. Go. posted by Ed | Treasure Valley in Idaho develops a brand Branding is becoming an increasingly important component of economic dev elopment strategy. The latest example: the region around Boise, Idaho, known as Treasure Valley. Developing a brand means more than a logo and a tag line. It means developing clear value propositions for investors, both inside and outside the region. Here's a good quote from an EDPro in the middle of these efforts: “For years, economic developers have done showy, feel-good ads that didn´t say anything about business opportunities in an area. Today´s businesses and site selectors want specific information." Read more. Today in our history of innovation... In 1955, Tappan Stove Company sold the first domestic microwave oven. In 1947, Raytheon demonstrated the "Radarange," the world's first microwave oven. But it was both big and expensive. Ratheon's commercial, refrigerator-sized microwave ovens cost between $2,000 and $3,000. Without the distribution and marketing infrastructure to sell appliances, Raytheon licensed the technology to Tappan in 1952. In 1955, Tappan introduced the first domestic microwave oven, which featured a more compact but less powerful microwave generating system. Although the new model was the size of a conventional oven, it was still expensive. With a price tag of approximately $1,300, few consumers purchased the first models. posted by Ed | New Institute for Rural Entrepreneurship in North Carolina targets rural unemployed Friday, October 24, 2003 The North Carolina Rural Economic Development Center announced a new Institute this week. More important, though, the Institute will house a scholarship and loan program to help unemployed workers start small businesses. Called New Opportunities for Workers (NOW), the initiative includes $1 million for microenterprise loans. The loans will range from $500 to $25,000. Learn more. Visit the North Carolina Rural Economic Development Center. Go. posted by Ed | Some interesting thoughts on how our economy is changing During a meeting this week in Edmonson County, KY, Ron Crouch, director of the Kentucky State Data Center, made some interesting observations on how our national economy is changing. For example, he notes: The first 100 years of the United States was spent on making farms more efficient. The second 100 years was spent on factories. The next 100 years will be focused on ideas and knowledge. He also believes that the Southeast is where the most economic growth will occur in the next few years; the Northeast will continue losing population; and the Southwest is going to be the next Appalachian region, poor and uneducated. Read more. posted by Ed | Atlanta, Dayton and Wake Forest plunge into nanotech A big week for small things... Georgia Tech, the University of Dayton and Wake Forest announced major new initiatives to build a technology base in nanotechnology. (Nano means one-billionth of something; a nanometer is equal to ten hydrogen atoms; the dot on one of the "i's" in this paragraph is equal to one million nanometers.) In Atlanta, Georgia Tech received $36 million from an anonymous donor to establish The Nanotechnology Research Center. Learn more. In Dayton, the university has established a $3 million endowed chari in nanomaterials. Learn more. At Wake Forest, the university is opening its center for nanotechnology. Learn more. If you are interested in learning more about nanotechnology, read this book. posted by Ed | Carter County, TN considers zoning A number of rural counties are facing growth pressures, so managing growth -- zoning -- becomes a critical issue. Unfortunately, too many people have misconceptions about what zoning is and what it does. Leaders in Carter County are using the local paper to clear up some of the confusion. Read how they are trying to answer the challenges. (Now if we could only get people to read the paper...) Go. (This challenge is a tough one, but you duck it at your peril. Just this week, I conducted a community assessment in Pendleton County, KY, an hour south of Cincinnati. The growth is coming. There's no way to stop it. The only issue is how the county's leadership will respond.) posted by Ed | San Antonio's manufacturing academy Promoters of San Antonio's manufacturing academy have got it right. Invest in the skills required by manufacturers. Companies may come and go, but the skilled will likely remain. People are a lot less willing to move. As one notes, the Academy will develop "multiple skills, problem-solving skills, those will be needed by manufacturing, and that is what will stay here." Students participating in the Academy will receive nearly one year of college credits during their junior and senior years. They will attend morning or afternoon classes at the Academy while continuing to study at their home high school the other half of the school day. Learn more. posted by Ed | Defining an authentic Midwest regional brand Early efforts are underway to brand the economy in the Madison-Milwaukee-Chicago region. A voluntary coalition is lining up funding and political support for a region they call "Core:". Good quote: "Our belief is that things have to be done differently. Getting the masses to think and act regionally is challenging. We have to show we're blind to state lines." Learn more. Today in our history of innovation... In 1876, Seth E. Thomas of New York City, NY received a patent for the winding alarm clock (and mornings have never been the same). posted by Ed | Rethinking technology development in Hampton Roads Thursday, October 23, 2003 Outside funding is drying up, and Hampton Roads must now restructure its initiatives to support technology development. Its technology council and incubator are facing some major changes. The plight of the council shows what happens when independent ED organizations become too dependant on public funding. They tend to lose the discipline of the market. I recently talked with one manager facing the same problem of public funding cutbacks. His comment: "government funding is like a drug". Learn more about Hampton Roads. Go. posted by Ed | Web Watch: Indianapolis site uses powerful GIS features In the midst of the political season, the mayor of Indianapolis has announced a new web site to help the city market vacant properties. The interesting dimension of this site is that it allows registered users to list thier properties. It includes a powerful GIS engine that provides aerial photos of available properties. You can then get demographic information -- consumer expenditures or workforce information -- for a radius around the site. You pick the distance. Visit the site. posted by Ed | Controversy begins clouding the Florida Scripps deal The arguments are heating up about Florida's Scripps deal. Critics complain that there's no way the project will genrate the type of returns projected. At the same time, the state is moving to lengthen the commmitment of theinstitute to the state from 7 to 12 years. The Scripps deal will prbably go through. Read more. Meanwhile, the governor's plan for a $190 million megafund has stalled. The legislature is nervous about not having controls over such a large pot of money. Learn more. posted by Ed | The Grow Iowa Values Fund Iowa has begun dispersing money from its Grow Iowa Values Fund. Three universities will receive $10 million in grants for biotech projects. The Fund is having a tough time getting off the ground, since it is tied to sales tax collections, which are down in the state. Learn more about the operation of the fund. Go. Meanwhile the fund has established wage standards for businesses seeking financing from the fund. Learn more. posted by Ed | Colorado's new biodefense lab The Bush Administration wants to accelerate the commercial development of vaccines and other drugs to combat bioterrorism. They are establishing new federally funded research facilities to accomplish their mission. Last month, Colorado State received $22 million to establish a biodefense and infectious diseases research center. It is one of nine in the country. The university is trying to figure out the right balance between research and commercial development. Learn more. posted by Ed | The future of manufacturing Industry Week has been running a monthly series on the future of manufacturing. They have posted six of seven installments on their web site. Reading through these articles gives you a far more detailed view of the impact of globalization than you read in the daily press. Go. Today in our history of innovation... In 1819, the first boat passed through the Erie canal. posted by Ed | RTP identifies 8 core technologies Wednesday, October 22, 2003 The folks at Research Triangle Park have been thinking long and hard about the future. They've come up with the eight technologies that they feel will guide their future development. Learn more here and here. Read more about their process. Go. posted by Ed | The Boeing soap opera continues... This commentator in San Antonio has it about right. Ther Boeing 7E7 deal is turning into a soap opera. Boeing officials are complaining about the state's business climate. Earlier this month, when asked about the state's business climate, Boeing's CEO of Boeing Commercial Airplanes commented, "I think we suck". That prompted a union official to launch a blast e-mail with the subject line: "Washington--We don't suck". Meanwhile, state officials, who led the charge on lining up a $4 billion package for Boeing, were understandably miffed. Then comes Boeing's request for $300 million to buy specially outfitted 747's to fly parts around. The reason: Boeing doesn't want to carry the planes on its books. Read more about the soap opera as seen from Texas. Go. Or, read more about the business climate debate in Washington. Go. Or, get a review of the bidding. Go. Today in our history of innovation,,, In 1938, Chester F. Carlson demonstrated xerography. Xerox is a term coming from "xerography" which means dry writing. posted by Ed | Debate starts on Florida biotech deal Tuesday, October 21, 2003 Debate in the Florida legislature has started over the Scripps deal. The governor wants the legislature to approve a $310 million package for this biotechh deal. (That's not counting $200 million that West palm Beach County is putting into the deal.) Read more here and here. Today in our history of innovation... In 1925, Westinghouse Electric Company demonstrated the first U.S. photocell at the Electrical Show at Grand Central Palace in New York. posted by Ed | Economy Watch Monday, October 20, 2003 Here are the latest examples of good economics writing from the web. U.S. economy rides 'strong upturn' Week of positive data: Economists hiking growth forecasts for third quarter Consumers Warming To Economy US economy delivers more upbeat figures Data Show Economy Picking Up Steam Retail sales show strong growth in third quarter U.S., China Agree to Dialogue for Economic Disputes posted by Ed | Oregon City turns down a Wal-Mart Friday, October 17, 2003 Now here's an interesting case. City commissioners in Oregon City, OR voted down a proposal to change the city's master plan to accommodate a Wal-Mart. As the article notes: "Commissioners said a big-box store doesn't fit with their vision for the city, a vision that emphasizes mixed-use developments and neighborhoods that are more pedestrian-friendly and less automobile oriented." One commissioner noted the changing attitudes toward big boxes: "Fifteen years or 10 years or even five years ago we would have said, 'Sure' ." Read more. posted by Ed | Rural Kansas communities learn about information technology EDPros in rural Kansas should focus on building their economies through information technology. That was the message of this week's Telepower conference. Read more. posted by Ed | Outsourcing R&D jobs MaryBeth Warner, an EDPro in Kentucky, suggested this article to me. It outlines how higher end research and development jobs are moving to places like India and China. In the IT field, China is rapidly emerging as a force. In the past year, with the strenghtening of trade ties between China and India, IT outsourcing firms from India have begun setting up shop in China. This article provides us good review of the challenges we face. Read more. posted by Ed | Minnesota cities and their bioscience plans Under Minnesota's plan to promite the biosciences, cities can apply for zones in which bioscience companies will be awarded tax credits: $1 million in tax credits will be available in the first year. St. Paul plans to establish a new "one-stop" marketing entity with a three person staff. In the first three years, they hope this new organization, BioCap, will attract 1,110 bioscience jobs. Learn more details. Go. posted by Ed | Maryland's radio ads Although no statistics on this aspect of marketing exists, my guess is that radio is becoming a more important vehicle for economic development marketing. Here's a look, for example, at Maryland's new ad campaign targeting Boston, Chicago, and New York. Read more. posted by Ed | Ohioans learn about Third Frontier In an effort to pass an important component of the Governor Taft's Third Frontier project, the State has launched an advertising campaign. The Third Frontier initiative represents Ohio's effort to build a technology-based economic development strategy. The governor is asking Ohio voters to approve $500 million in new bonding authority for the initiative. Learn more. Today in our history of innovation... Not much happened today. posted by Ed | Illinois reveals details on first of ten regional plans Thursday, October 16, 2003 Illinois Governor Rod Blagojevich has launched his new statewide economic development strategy. He has divided the state into 10 regions, and he is developing a strategy for each region. Yesterday, he announced the first of ten regional plans. It's an ambitious effort calling for $430 million in investment from state and federal sources. The state would provide $380 million, and the federal government would provide $50 million. Read more here and here . posted by Ed | Shreveport's Historic Music Village Morgan, Hill, Sutton & Mitchell, an architecture and design firm based in Shreveport, LA has posted its plan for redevelopment of an historic music village near the Municipal Auditorium. (Personal note: I worked on the plan with my older brother, Hunter, the former city planning director for Cleveland.) Music buffs know the Municipal Auditorium in Shreveport as the site of the Louisiana Hayride, a radio show that rivaled the Grand Ole Opry in Nashville. Indeed, the Hayride handled acts before they reached Nashville. Elvis, Hank Williams, Johnny Cash, Willie Nelson, and others all got their start in Shreveport. Earlier this month, the Louisiana Chapter of the American Planning Association presented the Outstanding Planning Award for the plan at its annual conference in New Orleans. You can download a copy of the plan from this page. Go. posted by Ed | Tech strategies for small and mid-sized cities The Brookings Institution and CEOs for Cities have pulished a report on technology strategies for smaller cities. The report is based on a review of strategies of smaller cities in Washington State. Most of the advice is commonsense, and the report provides a good review of strategies to follow. You can both read the execuytive summary and download the report from this page. Go. posted by Ed | Launching Team NEO Team NEO is an ambitious new marketing initiative for Northeast Ohio. Recently, Robert Farley from the Fort Worth Chamber of Commerce accepted the position as CEO. Learn more. Yesterday, a reporter called and asked me what the early priorities of Team NEO should be. I've had a day to think about it, and here's what I've come up with. Go. posted by Ed | Durham Cultural Master Plan Durham, NC is in the middle of preparing a cultural master plan. Depending on how it turns out, this project could serve as a model to other communities trying to connect their "creative industry" cluster more tightly with economic development. Traditionally, arts organizations have been treated on the periphery of economic development, part of the "quality of life". More recently, especially in the UK, EDPros are seeing that creative industries stand at the center of economic development. (See, for example, the web site for Creative London. Go.) (Treating creative industries as a cluster is different from Richard Florida's notion of a "creative class". Florida's thinking does not offer a very insightful approach to economic development, in my opinion. "Being a creative place" is not much of a strategy.) Visit the Durham project web site. Go. Download a fact sheet on the project. Go. Or, read an update. posted by Ed | EDPros in South Dakota see opportunity in wind energy In an interesting connection, EDPros in South Dakota see the development of renewable energy sources -- specifically, wind power -- as a way to keep young people from leaving rural areas. "We've got to find cool jobs for those young people; otherwise they're going to go to the places they think are cool whether they are or not." Read more. posted by Ed | Incentives for Wal-Mart in Denver In what they characterize as "a difficult call", EDPros in Denver are supporting a $10 incentive deal for Wal-Mart. Three core questions need to be answered. First, is Wal-Mart the appropriate anchor for the site? Second, if it is, does the company need an incentive to make the investment? Finally, if an incentive is needed, what is the appropriate level and structure? It's an interesting case study of when and how to use incentives. Read more. posted by Ed | SBA loosens 504 program The Small Business Administration has relaxed regulations of its 504 financing program. The 504 program focuses on fixed asset lending. The reforms enable certified development companies (CDCs), which offer the long term financing program -- to operate statewide, instead of in a defined geographic area. This change opens the door to EDPros that do not have CDC's operating in their region. Learn more. For a listing of certified development companies in your state, go here. Today in our history of innovation... In 1928, the Patent Office issued a patent (No. 1,687,510) for the first electric light bulb frosted on the inside. The inventor, Marvin Pipkin, worked at the Incandescent Lamp Department of the General Electric Company, Nela Park, Ohio. posted by Ed | Competing against Wal-Mart Wednesday, October 15, 2003 Retailers in Hudson, OH are taking back their Main Street with a new type of debit card. The City markets the card as a way to compete against the big box retailers in surrounding communities. Read more. Learn more about the Hudson City Card. Go. posted by Ed | Reducing the brain drain in smaller communities Leaders in Salisbury, on Maryland's Eastern Shore, are taking practical steps to retain their young talent. These initiatives include making the place "sticky" by expanding internship opportunities for students. Learn more. posted by Ed | Wyoming governor: Business Council must reflect business As budget pressures hit state campitals, more states are turning to privatization as a strategy for state level economic development. Wyoming followed this approachin 1998, when the state replaced seven state agencies with the Wyoming Business Council. By adopting a more private sector structure, the Council is supposed to be more responsive to economic development. But the governor is not happy. He thinks the Council lacks a mission statement and does not relect the concerns of businesses throughout the state. In other words, "privatization" does not guarantee more focused, responsive initiatives. Read more. posted by Ed | More details on Florida's biotech deal Florida landed a big one when the governor announced the Scrpps Research Institute would be expanding in the state. Scripps is the largest private, nonprofit research institute in the country and a major anchor to San Diego's biotechnology industry. The governor is calling the state legislature to pass a $310 million package for the Scripps deal. In addition, the governor wants another $190 million for an opportunity fund to pursue mega-deals. (Texas recently adopted legislation to provide the governor with a similar fund.) Read more. Here's another article. Go. posted by Ed | Arizona's chip manufacturing under pressure Competitive pressures are taking the toll on Arizona's semiconductor manufacturing. Here's a good article that explores the impact of globalization on this leading edge industry. Semiconductor manufacturing is expanding in Asia where skilled labor is less expensive and markets are growing. The point: Competitive pressures in manufacturing are not limited to lower wage, lower skilled businesses, such as textiles and apparel. Increasingly, countries like China have the infrastructure and quality workforce needed to support sophisticated manufacturing. (In another recent example, Ford and Mazda are investing in SUV production facilities in Thailand. Read more.) Read more about the pressures facing semiconductor manufacturing in Arizona. Go. Today in our history of innovation... In 1950, the first American radio paging service, Aircall of New York City, sent the first page to a doctor who was on a golf course 25 miles away. posted by Ed | Boeing is getting creative Tuesday, October 14, 2003 Boeing has announced that it's 7E7 project will rely on air transport. This fact creates a new challenge for states competing for the project. The company has asked states submitting bids to provide a small fleet of modified 747's to transport parts from suppliers in places like Japan and Italy. No kidding. Read more. Here's another article speculating what all this means. Go. posted by Ed | Wisconsin Institute focuses on e-business The University of Wisconsin will be launching the Wisconsin E-Business Institute. Initial plans are impressive. They include an initiative to help smaller manufacturers adopt e-business strategies and strengthen ties with customers. Read more. In e-business development, EDPros in Europe are ahead of the U.S. (Consider, for example, how governments in smaller EU countries are using e-business strategies to promote innovation and economic development. Learn more.) This institute can provide us a model to catch up. posted by Ed | Mmm...donuts The last thing health officials in metro Kansas City wanted was this...a Krispy Kreme factory. It turns out that 80% of Missouri residents do not eat enough fruits and vegetables. And in Platte County, 60% of adults are overweight. But that's where Krispy Kreme decided to open a manufacturing plant. Read more. Today in our history of innovation... In 1834, Henry Blair of Glenross, Maryland, became the first African-American to receive a patent. His invented a corn planter. Two years later, on 31 Aug 1836, he received a patent for a cotton seed planter. posted by Ed | The downside of sprawl: Stressed roads Monday, October 13, 2003 The folks up in Portaland, ME are finding that the increase of suburb-to-suburb commuting has a serious side effect: wear and tear on roads. The transportation system in the metro area was not designed to handle the volumes of traffic. Read more. GrowSmart Maine is trying to reverse these trends, but that will be tough. Although the organization's web site is a little thin, it does have a good newsletter. Visit the site. If you want to review smart growth at the state level, about a year ago, Texas issued a good report on the topic. Download it. posted by Ed | A good idea to copy Birmingham business leaders have started a valuable tradition. Each year, group of 100 leaders, called the Birmingham Innovation Group, travels to a different city to learn how other cities cope with the challenges of economic development. This year, they are traveling to Baltimore. Learn more. posted by Ed | Economy Watch Here's the best economics articles from the past week. Jobs growth still lagging economy Finding Nation's Future In A Box CEA's Mankiw: Econ Improving; Deficit Not Top Priority US CEOs see economy gaining steam, less so jobs posted by Ed | Reports on smart growth, brownfields Saturday, October 11, 2003 EDPro Alan Craig passed along a report from the Northeast Midwest Institute on smart growth in rural areas. When I toured the Institute's web site, I came across a number of other reports that might be of interest to you. To me, the reports on smart growth and brownfield redevelopment look particularly intersting. You can download them from this page. Go. posted by Ed | North Geogia leaders stress education as economic development Business leaders in Northwest Georgia stressed both education and regionalism in their summit yesterday. The talk underscores the convergence of economic development with education and workforce development. One of the participants, owner of a distribution company, underscored the importance of education. His drivers must use a laptop computer to give customers accurate infcormation on stock levels and margins. Good quote: “We’ve got to have a qualified work force. It’s what drives everything." Read more. posted by Ed | Virginia's Education for a Lifetime initiative When we draw the connection between education and economic development, we often forget that over 80% of our workforce in the year 2010 is already in the workforce. And many of these workers have relatively low literacy levels. (Literacy is measured on four levels. The lowest level is 1: Individuals have great difficulty reading and are generally aware that they have a problem. At Level 2, individuals can read, but not well. They can deal with material that is simple and clearly laid out. They often don't recognize their limitations. Most states have adult populations in which 45% to 55% of the adults are in Levels 1 and 2. For example, in Virginia, 47% of the adults are at Levels 1 or 2.) Virginia Governor Warner is targeting this issue with a new initiative: Education for a Lifetime. Using NASCAR as a promotional force, the governor is publicizing the connection between education and earning. It's a good move. Learn more. posted by Ed | Atlanta starts developing a new strategy The City of Atlanta starting to define a new economic development strategy. The mayor and the business community are entering new territory. For years, the City never needed much of a strategy. Growth just happened. But Artlanta, like other large cities, faces a "hollowing out" as business move farther out into the metro region. Atlanta's New Century Economic Development Plan is supposed to stimulate investment in the central core of the region. Learn more. Here's another article. Go. posted by Ed | Washington State slowing down in tech race Washington State's Technology Alliance produced a report last may that benchmarked the state against other competitor states, such as Massachusetts, California, Arizona and Michigan. The conclusion: Washington is falling behind in the key elements of a technology-based economy. These components include educational performance, investments in research and strong entrepreneurial networks. The Alliance is continuing to spread the word that the state should take these issues seriously. They delivered the message most recently this week to the second annual Western Washington Summit of Technology and Economic Development Entrepreneurship. Read more. You can download the benchmarking report from this page. Go. Today in our history of innovation... In 1887, Dorr Eugene Felt of Chicago received a patent for the adding machine. His "Comptometer" was the first practical key-driven calculator with sufficient speed and reliablility to be useful in business. . posted by Ed | Florida lands a big one in biotech Friday, October 10, 2003 Here's a major deal for Florida. The Scripps Research Institute, a major bioscience research center near San Diego, has chosen Palm Beach County for a new science center, a 364,000-square-foot facility. Governor Bush lawmakers into a special session the week of Oct. 20 to propose using $310 million from the one-time federal emonies to secure the deal with Scripps. Local governments must come up with about $140 million for the permanent lab space. Read more here and here. posted by Ed | Web Watch: Creatives in Northeast Wisconsin Young professionals in Green Bay and Appleton, WI recently got together to discuss what they could do to improve the "creative climate" in the regional economy. Visit the web site. Here's an article from USA Today on what mid-sized cities are doing to try to attract and retain the "creative class". Read more. posted by Ed | South Carolina moves on auto research park Clemson University has unveiled its plans for an auto research park in Greenville, and one business writer sees a major shift in the state's economic development strategy. He writes: "For decades, South Carolina used the same strategy to create jobs: fish for out-of-state manufacturers with the lures of cheap labor, generous tax breaks and a technical college system designed to train workers for the assembly line. "But with the news that Clemson University has struck a deal to develop an automotive research park in Greenville, the state has taken its first big step toward a new way of developing its economy: leveraging its research universities into high-paying, high-tech jobs." Read more. As the University of Kentucky found with its research park, success can come only if enough state resources are dedicated to building up and maintaining high quality researchers. Research parks are not real estate deals. Clemson will include a graduate school of automotive engineering at the park. The quality of that school will be critical, and South Carolina is doing a good job to provide the resources needed to be successful. posted by Ed | EDA grant targeted to attracting automotive suppliers to rural Alabama The US Economic Development Administration has awarded the University of Alabama with a $350,000 grant to help attract auto supply companies to rural Alabama. The grant requires a 50/50 match. Learn more. Counties in southern Texas are facing the same challenge of luring Toyota's auto suppliers to their area. Read more. posted by Ed | Arizona universities announce a plan for a joint campus Research universities are moving to the center of economic development strategy. And regions that figure out how to coordinate efforts among different institutions will be more competitive. In Arizona, the presidents of three state universities ahave unveiled a plan to build a joint biomedical campus in Phoenix. This is the type of Big Idea that has the potential change the economic landscape in the state. The Council on Competitiveness, in a 1996 report, "Endless Frontier, Limited Resources: U.S. R&D Policy for Competitiveness" predicted -- "Over the next several years, participants in the U.S. R&D enterprise will have to continue experimenting with different types of partnerships to respond to the economic constraints, competitive pressures and technological demands that are forcing adjustment across the board. "The innovative responses to these constraints, pressures and demands include - closer working relationships between research universities and industry, increased interaction between industry and the federal R&D establishment, and company-to-company R&D alliances among domestic competitors, suppliers and even foreign rivals." Arizona is heading down the right path. Read more. posted by Ed | Web Watch: Greater Philadelphia Greater Philadelphia has launched a new marketing campaign and web site. Developed by the Greater Philadelphia Chamber of Commerce, the campaign covers a region that includes Southeastern Pennsylvania, Southern New Jersey and Northern Delaware. The target market: commercial real estate brokers, site selectors. The new web site, SelectGreaterPhiladelphia.com, is designed to expand the Postively Philadelphia site launched in March 2003. (The Positively Philadelphia site has been taken down.) Read more about the strategy. Go. View SelectGreaterPhiladelphia.com. Go. Today in our history of innovation... In 1933, the U.S. Patent Office awarded a patent to Waldo L. Semon for a method of making plasticized PVC, now known simply as vinyl. posted by Ed | Communities are forming technology councils Thursday, October 09, 2003 More and more communities are understanding the importance of developing tighter innovation networks intheir economies. Forming a technology council is often an important first step. Here's an example from Hudson Valley, New York. Read more. And here's another example from Holly Springs, Mississippi. Read more. posted by Ed | Early childhood proposals in Massachusetts Businsess leaders in Massachusetts are promoting an expensive new economic development program, but this one promises a clear, strong payback. It's another indication that early childhood issues are moving toward the center of the economic development stage. The proposal would establish an intiative in which the state would spend about $1 billion a year for voluntary half-day programs for all children ages 3 and 4 and for full-day kindergarten for 5-year-olds, regardless of their family's income. According to Arthur Rolnick, research director for the Federal Reserve Bank of Minneapolis, "It's economic development with an extraordinary level of return." Read more. Today in our history of innovation... In 1855, the first U.S. patent was issued for a sewing machine motor to Isaac Merritt Singer of New York City. posted by Ed | Some common sense on China bashing Wednesday, October 08, 2003 Before EDPros jump into the coming election debate on China, we need to understand a bit more of the dynamics. Here's a good article to give you some background. The situation is far more subtle and complex than most politicians understand. We would be far better off directing our energies to improving the performance of our secondary and post secondary education systems than worrying about the value of China's currency. Learn more. posted by Ed | Connecting dots in higher education Wisconsin appears to be moving in the right direction by building tighter connections between its technical college system and the state's university system. A proposal on the table will make it easier for students to transfer credits from community college into the University of Wisconsin System. Credit transfers are particulary helpful in rural parts of the state served by the technical college system. In a global economy that runs on brainpower, the states that will excel in economic development will have flexible higher education systems. Learn more about the Wisconsin proposal. posted by Ed | Colorado and the incentives game Here's a good article exploring whether Colorado should start playing the incentives game. It reviews what's happening in Michigan, Charlotte, Texas and New Mexico. Read more. Today in our history of innovation... In 1823, New Yorkers inaugurated the Erie Canal in Albany, NY. Forty thousand people attended the ceremonies. (The celebrations were a little premature. The canal was actually completed in 1825.) The Erie Canal had an enormous impact on New York and the nation in the early nineteenth century. It was the superhighway of pre-Civil War America. Connecting Albany to Buffalo, the canal opened the American frontier and made westward expansion inevitable. It also turned New York harbor into the nation's number one port. posted by Ed | California's business costs are no joke Tuesday, October 07, 2003 No matter what happens today with California's recall election, the state faces some really tough decisions ahead. Here are the consequences, on the ground, of a business climate that has turned stormy. California's economy is the size of France's. And the comparisons don't stop there. Costco, the national retailer, faces workers compensation costs in California that are almost three times higher than the rest of the country. Read more. posted by Ed | Smart growth in Wisconsin We are still struggling with the issue of urban sprawl. While unregulated growth threatens many metro areas, it's not much of a concern in more remote rural areas. That makes fashioning a state wide approach difficult. The issue won't go away, though. In Wisconsin, they are still trying to find the right balance. Read more. posted by Ed | Innovation in rural Alabama Harvesting shrimp in rural Alabama started out with a wild idea: use saltwater that was trapped underground from an ocean that covered much of what is now Alabama 80 million years ago. Amazingly, though, the idea seems to be working. Learn more. posted by Ed | Rural Virginia county builds an education cluster Some rural counties get it. If you are competing in the global economy, you will compete on the basis of brainpower. Period. Here's a good case from Southwest Virginia in the middle of the coal fields. Buchanan County is proposing a school of pharmacy to add to its successful law school. (The school, started in 1997, is filled to capacity and adding $12 million a year to the local economy.) In sum, the county is building an education cluster. Smart move. Learn more. Today in our history of innovation... In 1856, Cyrus Chambers, Jr. of Pennsylvania patented the first practical U.S. folding machine to fold paper for books and newspapers. posted by Ed | Economy Watch Saturday, October 04, 2003 OK, time to get smart on the economy, then invite someone to lunch to impress them. Businesses add jobs after eight months Economic View: How America lost its balance (This one is by Joseph Stiglitz, a Nobel prize winner.) Fed's Olson Says Optimistic on Economy Lack of hiring, more than layoffs, afflicting U.S. economy Economy moving in fits and starts Survey says CFOs optimistic about the economy Factories Shutting Down? Good Riddance posted by Ed | Another favorite: Columbus, IN When it comes to economic development, Columbus, IN has had its act together for some time. It's a smaller city with a population of 38,000, and the leadership has managed to comibine the elements needed to remain competitive in today's global economy. Read what's behind their success. Go. posted by Ed | Nevada, MO: telecomm infrastructure for a rural community Nevada, MO is another rural community determined to provide telecommunications infrastructure comparable to any major city. The reason: economic development. According to EDPro Sam Foursha, "We expect the number of new jobs in Nevada and Vernon County to grow to nearly 1,000 in the next year." Nevada is a community of 10,000 people located 100 miles south of Kansas City and with no interstate access. Yet, Yahoo magazine named Nevada the “Most Wired City in America” in 2000. Nevada is now deploying a wireless broadband network. Learn more about what they are doing. posted by Ed | Nebraska science and technology assessment The Milken Institute has completed a science and technology assessment for Nebraska. Its a helpful document in that it outlines different indicators and provides maps, so you can quickly see how your state is doing. You can download it from this page. Go. Today in our history of innovation... In 1830, Isaac Adams of Boston, Massachusetts patented the first power printing press capable of fine book work. posted by Ed | The challenge of outsourcing Friday, October 03, 2003 Panelists at an information technology conference this week reached consensus on a number of points about outsourcing. Their conclusions apply to other industries, such a s manufacturing. First, outsourcing is inevitable. Companies will always look for lower-cost options. Second, erecting trade barriers to slow job losses is not in the best interest of U.S. companies. Higher barriers will lead in the long run to reduced competitiveness among U.S. firms. Third, training for both employed and laid-off workers is vital. The best approach is to focus on core skills, so that workers can be flexible as circumstances change. Finally, companies and universities should focus on innovation, an area in which we have always been strong. As one panelist noted, ""We don't know the new technologies that will come (but) they will come, they will always come. Our challenge is to make sure that we are positioned in terms of our educational system, in terms of our economy to jump on board those technologies." Read more. posted by Ed | Richmond, IN connecting education and economic development Here's a good article on how education and economic development are running more closely together. EDPros in Richmond, IN are figuring it out. They see the handwriting on the wall: in a global economy, brainpower matters. Education quality increasingly will drive business recruitment. Good quote from Jim Hizer, president and chief executive officer of the Economic Development Corporation of Wayne County: "We must set high educational standards for ourselves and for our young people. Setting some aggressive goals is the first step." Read more. posted by Ed | Web Watch: Telecomm in Pennsylvania A new web site in Pennsylvania is designed to inform citizens about the state's new telecommunications law. The coalition sponsioring the site was formed to hasten expansion of high-speed communications infrastructure. Visit the site. Go. The site includes a useful background on broadband. Learn more. posted by Ed | Out of the box conference in Appleton, WI Appleton, WI is another of my favorite places in economic development. Here's an example of an unusual meeting on out of the box thinking. Wisconsin and Russia, what do they have in common? A conference brought five U.S.-Russian sister city partnerships to explore the issue. Read more. posted by Ed | States struggle with manufacturing losses Minnesota manufacturing executives have met with the governor in an effort to shape a statewide response to manufacturing losses. Three themes have emerged: health care costs, workforce preparation, and the cost of doing business in the state. The governor has promised to introduce legislation that would reduce health care costs. Read more. In North Carolina, a new legislative committee is forming to address the problem. North Carolina has lost 27 percent of its manufacturing jobs since 1990. The governor's office is blaming federal trade policies for the losses. Learn more. posted by Ed | Learning about career pathways Most EDPros can't stand dealing with workforce issues. It's something...over there. But we can no longer afford the luxury of ignorance. We need to learn how to think about these issues. Help is on the way. After years of exploration, several key concepts are emerging to help us organize of workforce strategies. Career pathways represents one of the key approaches. It's a good sign that economic developers have started to learn about how career pathways work. The more you learn about this approach, the better off you'll be. This week, a joint effort among postsecondary educators in Southern Ohio and Kentucky explored career pathways as a development tool. Learn more. posted by Ed | Florida' mobilizes to attract a biotech firm Read more about what Florida is doing to attract a biotech firm. Here is the outline of the deal. Go. Today in our history of innovation... In 1941, the first aerosol can used in a commercial application was patented, invented by two U.S. Dept. of Agriculture researchers, a chemist and an entomologist, L.D. Goodhue and W.N. Sullivan. posted by Ed | Florida's New Cornerstone strategy report Thursday, October 02, 2003 The Florida Chamber Foundation released the final six chapters of New Cornerstone, its comprehensive economic development plan for the State of Florida. The report defines new strategies to guide Florida. Read more on the background to the report. Read more. Download a copy of the report from this page. Go. Today in our history of innovation... In 1866, J. Osterhoudt in New York City patented the first tin can with a key opener. posted by Ed | Kansas looks at renewables for rural economic development Wednesday, October 01, 2003 Wind and biomass energy make sense for Kansas economic development, according to promoters of the 2003 Kansas Wind and Biomass Energy Conference. According to one participant, studies on the community impact of wind projects in Wyoming, Oregon and Washington show that 14 to 20 jobs are created for every 100 megawatts of power installed. Read more. posted by Ed | Portland's Small Business Prosperity Strategy My first rule of economic development is simple: Stop doing stupid things. More and more states are recognizing the importance of encouraging small firms. So they are taking steps to make life easier for small business owners. Learn more about what Portland, Oregon is doing. Go. You can download the final report of the "prosperity strategy" here. Go. Today in our history of innovation... In 1908, Ford introduced the Model T car, the first car to be made on an assembly line, for a price of $825. posted by Ed | |
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