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Economy Watch
Monday, February 27, 2006 Here are the articles on the economy I came across last week. First World R&D Intensity Close to Stagnation? U.S. signals trade row with China Bird flu rated major threat to world economy Study: Midwest not ready for a major quake US immigration laws hindering students, workers, say experts America's younger workers losing ground on income US economy can weather a Fed "mistake": Poole Vital Signs for the Week of Feb. 27 Economy's health in focus this week on Wall Street China Seeking Auto Industry, Piece by Piece Key Factors Driving Offshoring of Corporate R&D posted by Ed | Incentives Watch Here are the articles on incentives I came across: Utah's incentive process is moving toward more disclosure. Read more. In Hamilton, OH officials are using webcasts to explain incentives. Read more. It's hard to figure out left from right in the debate over the incentives. Read more. EDPros in North Carolina are concerned about the impact of the Cuno decision. Read more. The same questions are arising in Tennessee. Read more. With the Cuno decision coming soon, bidding wars may give way to a competition of a different sort: Who has the best pre-school? Read more. posted by Ed | Focus on productivity, not jobs Sunday, February 26, 2006 Productivity pushes economies forward. Here's an example of a Minnesota manufacturer that has dramatically increased productivity while employing the same number of workers. Read more. posted by Ed | Michigan's 21st Century Jobs Fund Michigan is moving ahead with its 21st Century Jobs Fund. Up to $100 million in first round funding is available. The investment will support business development in alternative energy, life sciences, advanced automotive, manufacturing and materials, and homeland security/defense technologies. Read more. posted by Ed | Creating a multiversity across state borders in KY, WV, and OH Civic leaders in Kentucky, West Virginia and Ohio took steps in the right direction by strengthening the connections between the business community and regional college presidents. The leaders came together recently in Ashland, KY to explore the concept of multiversity. Read more. posted by Ed | Choosing career pathways in South Carolina South Carolina has an interesting experiment underway to move young people toward career decisions earlier in high school. When the Education and Economic Development Act is fully implemented, children will be introduced to career thinking as early as pre-school. Read more. You can read a copy of the legislation here. Read a case study of the role of the State Chamber in workforce. Read more. posted by Ed | Poverty: the disease of disconnection Poverty is a disease of disconnection: within families, communities and regions. Here's an good report from the Urban Institute on the disconnections among disadvantaged youth. Read more. A recent commentary in the Washington Post brought the report to my attention. Read more. posted by Ed | Organizing chambers in Albany, NY An active debate is underway in the Albany, NY region about how many chambers of commerce does the region need. Many business executives see the proliferation of chambers or economic development organizations and start pressing for consolidation. The approach can work, but it tends to be costly in time and effort. An alternative strategy involves building regional alliances and networks. Read more about what is going on in Albany. posted by Ed | Kotkin v. Florida: Round 17 For those of you you follow these matters, commentator Joel Kotkin does not like the theories of Richard Florida much. Here's an overview of why Kotkin sees that "cool cities" are not enough to assure prosperity. Read more. (I don't agree with either one of them: to my mind, both have got it wrong. Florida focuses too much on his Creative Class, and Kotkin is too dismissive of the importance of quality, connected places to attracting brainpower and accelerating innovation.) See what's happening in San Jose in the middle of Silicon Valley. posted by Ed | Connecting higher education funding to economic development in Colorado The President of Colorado State University has issued a white paper that argues the connection between economic growth and expanded funding in higher education. His paper urges state legislators to find new models to fund higher education. Read more. You can download a copy of the white paper from this page. We will be seeing more university presidents making this connection, as they make the case that investments in higher education are critical to our future prosperity. If you are interested in learning more about how your state ranks in higher education investments, you can visit this web site. posted by Ed | Alabama governor ties education reform to the economic development agenda Alabama's governor appears to be opening a discussion over the need for reform in education. He is calling for a dramatic change in the state's educational system. In his recent speech, the governor offered no details. But he is making clear clear the connection between education and economic performance. Read more. posted by Ed | Jobs for disadvantaged workers Here's a new report from the Chicago Jobs Council that argues the their Job Training and Economic Development initiative is working to produce higher incomes for disadvantaged workers. The initiative provides funds to community-based organizations that partner with businesses to recruit, screen and train disadvantaged workers for jobs. Read more. Download the report. posted by Ed | Boosting the number of people going to college A new report from Jobs for the Future outlines that less than 50% of all states have measurable goals for college access and success. Boosting the percentage of adults with higher educational attainment is one of the most direct pathways to a higher income economy. Read more. Download the report. posted by Ed | Buncombe County's Hub Project Here's an interesting editorial about what is taking place in Buncombe County, the home of Asheville, NC. Civic leaders are following a strategy set forth as The Hub Project, and the approach makes a lot of sense. The idea is to build innovation networks -- clusters -- around the county's assets. Read more. You can download the Hub Project Plan here. You can read an overview here. posted by Ed | Rochester's transformation Rochester is in the middle of a transformation to an innovation economy, and a number of interesting articles have appeared in recent weeks. Expert urges fast action on optics UR, RIT spark 'entrepreneurial buzz' Downsized 'big 3' remain a driving force Area makes its mark in digital printing Venture funding spotlight to shine here posted by Ed | Entrepreneurship in rural communities Tuesday, February 21, 2006 Boomtown USA author Jack Schultz makes an important point. Focus on entrepreneurial strengths in rural communities. Read more. This is the same message that Mark Drabenstott, vice president of the Federal Reserve Bank of Kansas City and director of the Center for the Study of Rural America, recently delivered in Nebraska. He believes innovation is the key to the future for rural counties. “The next great solution to the economy is sitting in a classroom right now. If you plant the seed early enough in a child's development, you will see that seed grow.” Read more. posted by Ed | Agritourism strategy for rural communities Agritourism represents an important entrepreneurial strategy for rural communities. The public's appetite for agritourism is growing, and the strategy is one approach to slow sprawl. Read more. But the strategy should not be limited to visiting places. Developing rural products and rural brands can generate new wealth, as Appalacian Economic Networks is doing in southeast Ohio. Visit the ACE-Net site. June Holley, founder of ACEnet will be among the faculty for our Open Source Economic Development workshop in Clevland on March 27 and 28. posted by Ed | Collaboration: Wisconsin looks to Denver for a model Denver's mayor put regional collaboration on the top of his economic development agenda. Civic leaders from Wisconsin are looking to Denver as a model for stimulating the same kind of thinking and acting in their state. Read more. posted by Ed | Innovation economy in northwest Arkansas An innovation economy is emerging in northwest Arkansas. In a region well known for Wal-Mart and Tyson Foods, economic developers are seeing the emergence of a number of companies tied to NASA. Read more. posted by Ed | Libraries as economic development assets In a knowledge economy driven by networks, public libraries can play an important economic development role. They can provide a research material, space for training, and opportunities to build civic networks. Equally important, they can provide strong stimulus for family reading, a core skill in the knowledge economy. Here's an article out of Colorado that explores these points. Read more. posted by Ed | Notre Dame's new technology park Notre Dame is another university that is redefining its role in regional economic development. The City of South Bend is moving ahead with the university to establish a research and technology Park near the campus. Read more. posted by Ed | SC Report: Improve ED system performance Economic developers and South Carolina have released a new report designed to streamline the performance of the state's economic development delivery system. You can read more about the report here. You can download a copy of the report here. The study reports of both North Carolina and Georgia are a far ahead of South Carolina in the economic development game. posted by Ed | Adult education as an economic development issue As more states face the challenges of dislocated workers and accelerating demands for higher skills by employers, economic development professionals will pay more attention to their adult education systems. Here's an report from Maryland on a recent study of that state's's adult education system. Read more. posted by Ed | Economy Watch Sunday, February 19, 2006 Here are some of the articles that caught my eye last week. US Study identifies key factors driving offshoring of corporate R&D Study: Cost isn't main factor for offshoring R&D US: Outsourcing Is Climbing Skills Ladder Trying a New Tack, Fed Chief Is Brief, Clear and Also Upbeat Made-in-India brand gets stronger Five signs U.S. innovation is at risk Vital Signs for the Week of Feb. 20 ‘Job creation’ an elusive goal Creating the Sci-Fi Economy Forging a Creative Community for the New Creative Economy U.S. Tech Firms, Citing 'Brain Drain,' Push to Hire More Skilled Foreigners Silicon Valley’s Innovative Spirit India, the next innovation giant? U.S. Falling Behind in Global 'Brain Race' Trade gap: Blame exporters? Are We Losing Our Edge? posted by Ed | Incentives Watch Here are the articles on incentives that caught my eye last week. The Kansas City region is at war with itself: More than $15.6 million in state and local tax incentives are being offered to lure Quintiles Inc. and more than 600 jobs out of Kansas City to Overland Park. Read more. New York, not a hotbed for auto investments, believes that it has something to offer beyond incentives. Read more. Utah's Board of Economic Development is becoming more open about its incentive packages. Like North Carolina, the Utah board has been under pressure from the newspaper to reveal details of the incentive deals. (Despite the pressure, they are still tight lipped about Project Elvis.) Read more. The loss of a DuPont plant expansion project is causing leaders in Memphis to review their incentives policies. At the same time, Shelby mayor wants his colleagues to think beyond incentives. "Unfortunately, compared to other jurisdictions, we are a one-trick pony when it comes to economic development incentives. In terms of economic development, we have to broaden our arsenal. "Unlike [incentives], a good, quality workforce doesn't run out in five years or 10 years." Some people are starting to figure this out. Read more. posted by Ed | Quotes of the Week It started to occur to me this week, that people were coming up with some memorable quotes, some serious, some funny. "We ought to be a place where a brilliant person with a great and timely new concept can come to get a receptive person to listen, and then find ways to support ... hard work to make it happen," Christina Gabriel, new director of Innovation Economy Program at the Heinz Endowments in Pittsburgh. "The activities that succeed over time are those that build on continuous learning and innovation." Suzanne Berger, director of the MIT International Science and Technology Initiatives (MISTI), and the lead author of "How We Compete." Read more. "Regional prosperity depends on a region's capacity to support innovative firms, institutions and people." Council on Competitiveness President Deborah Wince-Smith. Read more. "I think it's a ruse, a complete and total ruse by people who don't want to face what the real problems are. The real problem is that 30% of the people getting a college degree in China and India are getting an engineering degree. That number in the United States is 4%. The fact is, we don't value engineering, and that is how manufacturing jobs get created." General Electric CEO Jeff Immelt commenting on the outsourcing issue. Read more. "Here's the bottom line: You can't have competitiveness without competition". Hector Ruiz, Chairman and Chief Executive Officer, AMD, in his testimony before the U.S. House of Representatives' Committee on Government Reform. Ruiz was commenting on illegal contracts issued that specify branded products, such as "Intel-only products", which automatically prohibit competition. Read more. "The ideal length of a business plan is twenty pages or less, and this includes the appendix. For every ten pages over twenty pages, you decrease the likelihood that the plan will be read, much less funded, by twenty-five percent. When it comes to business plans, less is more." Guy Kawasaki's advice on writing business plans. Read more. "The pay you are offering would neither fulfill me nor support the lifestyle I am living." Young lawyer Dianna L. Abdala turning down her a job offer. Read more. "I just want to go home!" A cry for help from Alderman Joe Lee Richards in Benton City, AR. Read more. "Today's Sputnik? It's a little bigger. It's called China. The projected growth in high-technology products from there is staggering." Science policy analyst Michael Lubell of the American Physical Society. Read more. "Per year, 70,000 would be good. But we need 290,000 science and math teachers at this time." Cal Poly President Warren Baker commenting on President Bush's goal of 70,000 new science and math teachers for the nation’s high schools. Read more. "Whenever I read or hear that 'job creation' is a goal, my eyeballs start sweating." Scott Whipple, staff writer for the New Britain Hearld (CT). Read more. posted by Ed | Coming in 2007: Innovation Tennessee In a recent speech in front of the Rotary Club in Jackson, Tennessee, the commissioner of the Tennessee Department of Economic and Community Development revealed that his department is preparing an initiative called Innovation Tennessee. The initiative will be launched in 2007 and will bring together university and business development resources. Read more. posted by Ed | Don't do this at home If you're think of having a flaming e-mail exchange, think twice. Here's what happened to one young law graduate who got a little too full of herself. Read more. Another hint: Never describe yourself as a "trust fund baby." posted by Ed | Challenges facing inner ring suburbs A new report from the Brookings Institution highlights the challenges facing the nation's older suburbs. These inner suburbs are facing serious demographic changes. You can read more about the report here. You can download a copy of the report from this page. Myron Orfield's book MetroPolitics provides excellent insights on the subject. You can learn more about Orfield's book from this page. The decline of the central cities and inner suburbs places more emphasis on the need for regional cooperation. Here's an example from Dayton, Ohio. posted by Ed | Unemployment confusion in Northern KY Recent unemployment reports in northern Kentucky have created some question. Economic development professionals cannot understand why the Northern Kentucky economy, which by all accounts has been growing, has a slightly higher unemployment rate than the national average. Read more. This article highlights the problems of using unemployment rates as a indicator of regional economic health. Unemployment rates are computed numbers. A far better approach is to look at employment numbers, which are not. Another important distinction: unemployment numbers tend to focus our attention on the short term. Economic developers should be thinking in terms of longer time horizons. posted by Ed | Streamlining in Connecticut Connecticut's governor has proposed to a plan to streamline the various economic development organizations operating within her state. Read more. posted by Ed | Shaping a strategy in Arlington, TX Arlington, Texas is working through a new strategic planning process. Here's an update. Read more. You can visit the project web site here. posted by Ed | State efforts to boost exports We're starting to see more regions and states by attention to new growth opportunities available through export marketing. Here is a story from Maryland. Read more. Last week, Delaware announced a new partnership with the Export-Import Bank. Read more. Some argue that U.S. has become complacent about exports, and that this reason accounts, in part, for our large trade deficit. Others disagree. Read more. posted by Ed | Reforming Iowa's schools for tomorrow's workforce Recently, Iowa's Institute for Tomorrow's Workforce published a new report on the state's school system. The report outlines a strategy for improving the state's school system. Like many school reform efforts, however, this initiative may run into problems. Read more. You can download a copy of the report here. posted by Ed | Utah's investment in its universities Utah's legislature is considering reauthorizing the Utah's] Science Technology and Research initiative to provide additional funding for the state's universities. Read more. Utah is one legislature that understands the economic development role that universities play. In many more states, legislators have difficulty with the concept. University presidents undertake a number of tactics to change these public perceptions. Some universities are publishing economic impact studies. Others, are taking an even more proactive step. For example, University of Kentucky President Lee Todd recently toured his state. Read more. In Iowa last week, Iowa's three regents' universities cooperated on a forum that linked state economic development with university research. Read more. These are all important steps to shift our thinking away from "jobs" to developing globally competitive brainpower and the innovation networks we need to convert brainpower to wealth. posted by Ed | Lansing steps forward with regional approaches The Lansing Regional Chamber of Commerce is moving ahead with a new effort to says the region's key assets for economic development. Read more. This marks another initiative based in Lansing to move from that region forward. Civic leaders in Lansing, concerned about falling behind other cities like Ann Arbor and Grand Rapids, have launched new initiatives in regional development. Recently, one of the state's top economic development leaders joined to head a new organization. Read more. Michigan State Unviversity is also playing a more active role. Read more. posted by Ed | Creating quality, connected places in the Albany region In Albany, the Center for Economic Growth is undertaking a new initiative to study the costs of growth for the region. It is an important undertaking. Different patterns of physical growth in a region, not surprisingly, create different costs (and different pressures for tax revenues). The Center will frame the work by using scenarios. The study will enable citizens in the region to talk meaningfully about the different trajectories of growth. Read more. Scenario planning works effectively with complex physical planning issues. If you're interested in this approach, you might explore a visualization software which enables a community to visualize different growth scenarios. Learn more. Another important strategy in growth management focuses on developing consensus on the principles of growth. This site from the Kansas City region reflects this approach. If you are interested in the costs of sprawl, here's a report to get you started. posted by Ed | Marketing a smaller chamber Here is an interesting idea for smaller chambers of commerce. In Muncie, Indiana business students from Ball State University are implementing a strategic communication plan designed to raise the profile of the chamber. Read more. posted by Ed | Pittsburgh's steady approach Pittsburgh is an old economy town that is moving slowly and steadily to build a new economic foundation based on innovation. This type of transition takes time and patience. (The same type of patience the Rooney family has shown with the Pittsburgh Steelers.) Here's an overview of what is happening in Pittsburgh. Read more. Recently, Google decided to open a local engineering and research office near the Carnegie Mellon campus. That decision provides important evidence that the strategy is working. In addition, the Heinz Endowments have made a new commitment to their Innovation Economy Programs. The new head of this program wants to take a fresh look at their economic development programs. Read more. posted by Ed | Philadelphia's Science Center Philadelphia is a region in which universities are playing an increasingly important role in economic development. The University of Pennsylvania stands as a major model of new approaches. Another innovation, the Science Center, represents thirty-two research institutions. The Center operates with two units: one focused on real estate and another focused on technology commercialization. The Science Center creates a hub for emerging transformation of the region. Read more. posted by Ed | Building a vibrant economy in Western North Carolina EDPro reader Jim Roberts has sent along a column that he wrote on how civic leaders in western North Carolina are building a new economy based on entrepreneurship and innovation. Read more. The region's approach is a valuable model because it is both networked and emergent. The approach is networked because it does not rely on any single initiative to accelerate innovation and entrepreneurship. Instead, the region has a number of different interlocking initiatives at work. The strategy is emergent, because it focuses on the market and opportunities that emerge as markets evolve. Over the longer term, the strategy will work to make the region far more resilient and prosperous. posted by Ed | Texas: Reforms in communications law boosts broadband Last year, the Texas legislature passed a reform of the state's communications law in order to accelerate technology investments in high speed Internet service. The reforms are bringing Internet service to smaller communities in the state. As one commentator notes, "The Texas Legislature is showing the rest of the country how good policy can expand access to new technologies more quickly." Read more. posted by Ed | Accelerating regional growth in Kansas and Missouri Saturday, February 18, 2006 Kansas City won one of the WIRED grants from the Department of Labor. Their strategy will cover an 18 county region in Missouri and Kansas. The grant will help train workers in advanced manufacturing, biotechnology and healthcare. The grant proposal reflects the close collaboration emerging between the governors of Missouri and Kansas. Read more. The two governors recently held a summit on regional growth. Read more. They are planning to create a “life sciences corridor” between Columbia, Mo., and Manhattan, Kansas. posted by Ed | Maryland's incubators Maryland has embraced the strategy of promoting incubators as a way to accelerate business development. Here's a good article that provides an overview of the strategy. Read more. posted by Ed | Chicago thinking as a region Chicago was one of the regions that did not win a WIRED grant from the Department of Labor. Nevertheless, civic leaders are focused on the right agenda of promoting innovation. Even though they did not win the Department of Labor grant, they're moving ahead with a conference in March to explore how to improve the region's innovation system. As one civic leader comments: "Regions are the battleground for turning our nation into an innovative economy." Read more. posted by Ed | Nurses as entrepreneurs The Indiana University School of Nursing held an interesting two-day conference last week. The focus of the conference was to encourage nurses to become entrepreneurs. Read more. The strategy makes sense. Nurses are in an ideal situation to understand that the problems on the frontline of the health care delivery. By gaining insight into these problems they can help guide new products and services in the health-care system. This strikes a theme set forth in a recent article in the Harvard Business Review about how to think about innovation. Read more. posted by Ed | Requirements for global success Recently, the CEO of AMD Corp. outlined his three fundamental principles needed for global success in the 21st century. Here's an overview of his testimony. Read more. You can also download a copy. posted by Ed | Innovation and Rensselaer Polytechnic Institute No university is more active than Rensselaer Polytechnic Institute in responding to the global challenges of innovation. President Shirley Ann Jackson has been an outspoken proponent of engineering education. Read more. This response is exactly what Jeff Imelt, CEO of General Electric, is looking for. In a recent interview with Fast Company, the editors asked: "Do you think outsourcing is killing America?" Immelt responded: "I think it's a ruse, a complete and total ruse by people who don't want to face what the real problems are. The real problem is that 30% of the people getting a college degree in China and India are getting an engineering degree. That number in the United States is 4%. The fact is, we don't value engineering, and that is how manufacturing jobs get created." Read more. posted by Ed | Coming to a region near you: Skill shortages Arkansas is facing a problem that many other states will soon encounter: a shortage of skilled workers. As the Baby Boom generation retires and skill demand increases, many regional economies will find a more serious shortage of skilled workers. Meeting this challenge will require introducing significant new intern innovations into our education system. Read more. posted by Ed | Don't do this at home If you are going to the effort of producing a news release, make sure that you have news in the release. By sending out No News Releases, you undermine the credibility of your organization. Eventually, the press will not pay attention to you, even if you have news. Here's an example of a No News Release from Northeast Ohio last week. Read more.. Now compare that to a news release from Pittsburgh last week. Read more.. Which organization comes across as more serious, focused and professional, Team NEO or the Pittsburgh Technology Council? posted by Ed | Economy Watch Sunday, February 12, 2006 Here are the articles on the economy. I have expanded my scope to include articles on developments globally, especially in India and China. Why giveaways are changing the rules of business Innovation, Competition Vital to U.S. Competitiveness Inside China's teeming world of fake goods As the world shrinks, competition grows U.S. Tech Firms, Citing 'Brain Drain,' Push to Hire More Skilled Foreigners Vital Signs for the Week of Feb. 13 Silicon Valley’s Innovative Spirit U.S. commerce secretary: Trade deficit not only important number Professor sizes up competition in new book U.S. Falling Behind in Global 'Brain Race' Trade gap: Blame exporters? U.S. firms becoming tongue-tied posted by Ed | Incentive Watch Time is short this week, and so is my review of incentive articles. North Carolina is finding that not all incentive initiatives have ready takers. Read more. The Massachusetts legislature is considering major new investments in biotechnology and life sciences. Read more. Residents in a Florida county learned about enterprise zones. The article provides a short review of what's available in Florida. Read more. Legislators in Maine are struggling with how to adjust to the closure of the Brunswick Naval Air Station. Read more. Washington State invested a boatload in incentives to keep Boeing happy. Now they are extending some of the benefits to Boeing's suppliers. Read more. Missouri provides the clearest case of the trade-off between incentives for companies and investments in education. Read more. posted by Ed | Developments in Maryland's tech economy Some major developments are taking place in Maryland. First, two statewide technology groups have merged. Read more. Second, and more significant, Johnson & Johnson has reached an agreement with the Maryland Technology Development Corporation (TEDCO) to co-invest in early stage companies. Read more. posted by Ed | Georgia's "Entrepreneur Friendly Communities" Here's a good overview of Georgia's initiative to create "Entrepreneur Friendly Communities" throughout the state. Read more. You can learn more about the initiative here. posted by Ed | Growth market: Women business owners in Georgia The number of Georgia firms founded by women surged 35 percent between 1997 and 2002 — more than any other state except Nevada. That statistic alone has led some EDPros in Georgia to focus on this emerging buisness segment. Read more. posted by Ed | Building African American businesses in South Carolina A new business group has formed in South Carolina to promote the development of businesses owned by African Americans. The group hopes to develop a statewide strategy. Read more. posted by Ed | A rural strategy focus The undersecretary for rural development in the U.S. Dpepartment of Agriculture has a clear focus for rural development: renewable energy, broadband access and location.Read more. To these three, most knowledgeable observers would add entrepreneurship: growing a rural economy from the inside out. So, for example, here is a note from Indiana on how rural strategies include more than recruitment. Read more. And here is an opinion column on how Nebraska should be growing its rural economy. Read more. posted by Ed | Moving Iowa toward innovation Iowa's outgoing governor wants his state to move toward an innovation agenda in economic development: "Given the nature of the world economy, we're going to have to compete or we're going to have to retreat. I think we can compete by being innovative and creative." Read more of the governor's interview. posted by Ed | Invest in international programs and foreign language studies The business-led Committee for Economic Development released a report last week urging expanded investment in international programs and foreign language studies. The CED warned of the business consequences of lagging performance in these areas. Read more. According to the CED: "To compete successfully in the global marketplace, both U.S.-based multinational corporations as well as small businesses increasingly need employees with knowledge of foreign languages and cultures to market products to customers around the globe and to work effectively with foreign employees and partners in other countries." You can download the report here. Here is a good commentary from Minnesota on the type of collaborations that are needed to accelerate foreign language training. Read more. posted by Ed | Sacramento's regional prosperity index Measuring the health of a regional economy is a tricky task. Part of the challenge is conceptual. In order for an index to make sense, it must reflect a theory of growth or development. So, for example, a business -- with an appropriate business model -- can design a dashboard that reflects the key leverage points embedded in the business model. For a region, the task of articulating a clear and concise theory of change is no easy task. The theory or model should reflect a civic consensus on what's important. The Sacramento Regional Research Institute last week released a regional prosperity index. You can read more here. You can download a copy of the index here. posted by Ed | Universities connecting with industry Under new leadership, the University of North Carolina is moving aggressively to form a new partnerships with industry. These ambitious plans, however, carry a relatively heavy price tag. Read more. The UNC strategy reflects a broader trend that colleges and universities are moving into the center of economic development. Last week, UNC Charlotte opened a new center on bioinformatices. Read more. Investing in university research forms one pillar of Governor Rendell's strategy in Pennsylvania. Read more. Last week, the University of Texas at San Antonio launched a million-dollar research facility in biotechnology sciences and engineering. The hope is that this research facility will attract private investment. Read more. Meanwhile, in New York, the University of Buffalo has created a strategic alliance with Pfizer. Read more. Unfortunately, many state legislators still do not understand the emerging imperative to invest in higher education. So, for example, many states are leveling off or cutting back on these investments. Indeed, many Op-Ed articles appeared last week outlining how investments in higher education matter to economic development. Here's an example from Virginia: Other Voices: Virginia students - sink or swim. Here's an article from Michigan: 'U' taking the lead in developing a bioeconomy. Here's a column from California: Creative Clusters and the Urban Economy. Here's commentary from Florida: Accelerate growth of innovation economy. Here's a view from Vermont: Scholarship program investment in future. posted by Ed | Innovations in older cities A new national report explores how to revitalize older urban cities. The report focuses on innovations in Baltimore, Cleveland, Detroit, Philadelphia, and Pittsburgh. In Cleveland, the report cites the work of the Westside Industrial Retention and Expansion Network (WIRE-Net) that helps companies stay competitive. While the region as a whole experienced a 21% decline in manufacturing jobs between 1993 in 2000 the Westside community experienced a 9% increase. WIRE-Net represents a national model for developing effective manufacturing assistance programs. For two years I was privileged to us to sit on the wire net a board. Read more. You can download the report from this page. Visit the WIRE-Net site. posted by Ed | Hawaii's explores new approach to renewable energy Many states are moving toward the promotion of renewable energy through regulations that require utilities to produce a portion of their energy from renewable sources. Texas, for example, has become a national leader in wind energy through its portfolio standards. Interestingly, Hawaii is taking considering a different course. Legislation before the state legislature calls for the establishment of a statewide energy-efficiency utility. Read more. posted by Ed | South Carolina's new top EDPro South Carolina has a new commerce secretary. He will focus more on building businesses based in South Carolina. Read more here and here. posted by Ed | Civic tourism Here's an interesting article out of Arizona on tourism. The article explores the concept of "civic tourism". This approach focuses on enhancing the built environment and strengthening a sense of of history and heritage within a place. You can read more about what's going on in Arizona here. You can visit a civic tourism on web site here. posted by Ed | A co-branding strategy for smaller communities Two smaller communities in Oregon are combining with a branding initiative. The joint effort will focus on strengthening of the links between these two communities. This effort looks like a good model for smaller communities to follow. Read more. posted by Ed | RTP's international strategy North Carolina's Research Triangle Park has unveiled a strategy to develop international ties for its 13 county region. The strategy seeks to attract foreign investment, as well as expand export opportunities to regional firms. Read more. posted by Ed | Tennessee's community innovation forum In Tennessee, civic leaders are encouraging a shift in focus toward innovation and technology-led economic development. In order to move in this direction, they are holding a community innovation forum later this month. Interestingly, this form will focus on the impact of innovation and technology development in whirl areas and suburban areas. Read more. This initiative is supported by the Southern Growth Policies Board. posted by Ed | Georgia's new business launch competition The Technology Association of Georgia and the Georgia Research Alliance have announced an innovative new competition that focuses on the business launches. You can read more about the competition and visit the web site. Read more. Visit the site. posted by Ed | Muncie builds Asian ties The mayor of Muncie, Indiana has announced a new initiative to encourage closer ties between his city and Asia. The mayor's proposal represents another example of how communities and regions are building global ties to become more competitive. Read more. posted by Ed | Pennsylvania's proposed investment strategy Pennsylvania's governor has announced a new billion-dollar strategy that he would like the to state to follow. Among other steps, a set of initiatives will build on the state's research base, while helping companies become more globally competitive. Read more. posted by Ed | Nebraska's marketplace for entrepreneurs Economic developers in Nebraska's rural counties are shifting to emphasize entrepreneurship. The Center for Rural Affairs is planning an event called Marketplace for Entrepreneurs later this month at the University of Nebraska. The initiative borrows an idea from North Dakota. Read more. posted by Ed | Economy Watch Sunday, February 05, 2006 Here are articles on the economy I came across last week. State of the Union: American Competitiveness Initiative (You can download a booklet on the initiative here.) Why The Economy Is A Lot Stronger Than You Think The view of the future from Davos You can download podcasts from Davos from this page. President Participates in American Competitiveness Panel in New Mexico The Microfinance Factor Manufacturers warn of ebbing US lead in innovation Vital Signs for the Week of Jan. 3 Mich. governor faults White House policies on manufacturing More Training Is Seen as Key to Improving Math Levels Competitiveness agenda starts with improving school system Americans' Savings Rate at Lowest Level Since 1933 Secretary of Labor Elaine L. Chao Announces $195 Million for President Bush's Competitiveness Agenda posted by Ed | Incentives Watch Here are some of the interesting articles involving incentives from last week. Illinois has made incentives a part of its strategy to attract corporate headquarters for Office Max and Mittal Steel USA. Read more. More states are considering incentives for film and television production. Read more about Ohio. Read more about Michigan. Washington State is considering incentives for semiconductor manufacturers to encourage expansion investments. Read more. Georgia is putting together its package to attract the NASCAR Hall of Fame. Read more. The problem of unintended consequences: Missouri's new incentive framework -- the Quality Jobs Act -- gives casinos a break. Read more. Business owners on the Gulf are starting to learn about the Gulf Opportunity Zone Act. Read more. Oklahoma's governor wants to establish a $100 million opportunity fund for deals. Read more. A report evaluating Minnesota's Job Opportunity Building Zone (JOBZ) initiative signals positive results. Read more. Maryland is moving ahead with a tax incentive package for biotech firms. Read more. posted by Ed | Learning from the Irish Miracle Wisconsin is learning the lessons of the Irish Miracle. Simple enough: educaiton, innovation, networks, collaboration. We know the path ahead. But somehow, we are not executing very well, according to this insightful commentary. Read more. posted by Ed | New report on U.S. manufacturing The Council of Manufacturing Associations and the National Association of Manufacturers has released a study warning that the failure to revitalize innovation in high end manufacturing will further weaken the U.S. economy. Read more. You can downlaod the report here. posted by Ed | Two regions move to connect globally Last week, two regions moved ahead with promoting global connections. In the Tri-City region of Eastern Tennessee, civic leaders held an important forum on how to connect the region globally. As part of this exploration, the Tri-City leaders invited Catherine Hansen, chief of protocol for Charlotte and Mecklenburg County, NC. She is part of the Mayor's International Cabinet. Read more. In Hampton Roads, VA, the Hampton Roads Economic Development Alliance is focusing on five areas for business development. In addition, the Alliance is hiring a consultant in Shanghai to connect to Chinese companies looking to locate in the U.S. Read more. posted by Ed | Attracting brainpower to Arizona and Florida Arizona is launching a new $25 million initiative to attract top science talent. Read more. The initiative reinforces a recent $50 million pledge from the Virginia G. Piper Charitable Trust. The Piper gift focuses on the creation of 10 endowed Piper Chairs to attract leading scientists. The Arizona fund reflects an emerging trend in incentives: Moving incentives from companies to people. Georgia's Research Alliance is a good model for how this strategy works. In a still bigger move, Governor Bush in Florida last week announced a $630 million package of proposals to advance his state. One of the proposals is a $100 million fund for the World Class Scholars Program. The program would give universities financial resources to attract researchers from around the globe to Florida. Read more. posted by Ed | In the trenches building skills Community colleges sit on the front line of skill development. Here are some good articles from last week on how community colleges are able to adapt quickly to changing needs of employers. Here are some examples I came across last week: In Colorado, Pikes Peak Community College is innovating with a new information systems security program. Read more. In Pennsylvania, Lehigh Valley has opened a ned automated warehousing facility to train students in advanced materials handling technology. Read more. In Georgia, the new Center of Innovation for Manufacturing Excellence opened at Lanier Technical College. Read more. In Charlotte, Central Piedmont Community College has launched a new program in simulation and game development. Read more. The Northwest Louisiana, Bossier Parish Community College represents a dynamic school that is growing steadily. Last week, they opened their new campus in Bossier City. Read more. posted by Ed | Reshaping perceptions of the university in economic development The role of universities in economic development is evolving in new ways. For research universities, technology transfer has always been a place to start. Improving and aligning faculty incentives within the university is a first and difficult step. But efforts cannot stop there. Teaching the public about the evolving role of the university in economic development represents one of the more difficult, but important challenges. Here are two examples of universities that are reframing their roles. President Lee Todd of the University of Kentucky is a person to watch. He is reshaping the role of his university in the state. It is no easy job. Read more. The University of Maryland's BioPark is one of the focal points of a new program called, "Strategies for Success: Building Communities through Economic Development". Read more here. You can view the 18 minute video. At Purdue University's Calumet campus, the university is consolidating its science and economic development initiatives in a a new $24 million technology tower. Learn more. posted by Ed | Jackson leaders visit Richmond Like anything else, improvement in economic development requires continuous learning. Chambers of Commerce can play an important role in encouraging learning by civic leaders through field trips. Here's an article on the recent trip by the leadership in Jackson, MS to Richmond, VA. Read more Both cities are medium-sized state capitols, and Jackson's leadership felt that they could learn from Richmond. As one participant noted, "Jackson is kind of at a point today where Richmond was ten or twelve years ago." If your chamber does not have an initiative to get your civic leaders out and learning on a regular basis, start one. posted by Ed | Emerging regional collaborations Here are examples of two other regions starting to see their challenges and opportunities. In Southwest Oklahoma last week, civic leaders come together to explore the challenges facing their manufacturers. Read more. In Hattiesburg last week, mayors from fifteen cities gathered to focus on a common economic development agenda. Read more. posted by Ed | President Bush pushes innovation The President's State of the Union address focused in part on building innovation in regional economies. After the speech, President Bush gave follow up presentations with 3M and Intel. The Department of Commerce moved to highlight innovation at leading universities. Commerce Secretary Carlos Gutierrez visited Carnegie Mellon. U.S. Assistant Secretary of Commerce for Economic Development Sandy Baruah visited RPI. The move is attracting attention on Capitol Hill and generating bi-partisan support for increased science funding. Read more. (But, unfortunately, this article underscores that some people remain unconvinced. There is no strong consensus on the core challenges we face, what to do or how much to invest. Clearly, we need a far stronger, more sustained national debate on strengthening our innovation economy.) posted by Ed | Web Watch: MY BIZ for Women Here's a new web site for women, MY BIZ for Women, who are starting and managing their own businesses. MY BIZ for Women is designed to provide a single point of entry for women entrepreneurs to government resources. Visit the site. posted by Ed | Milwaukee joins Urban Entrepreneurship Partnership Milwaukee is joining a national program designed to create new initiatives for inner city business development, the Urban Entrepreneurship Partnership. Read more here and here. Learn more about the Urban Entrepreneurship Partnership. posted by Ed | Arts and economic development Last week in Kansas City, experts from Denver, St. Paul and New York participated in a symposium on the arts and economic development. Read more. If you are interested in public art, a symposium like this one can help ignite interest and define what's possible. Increasingly, cities have used public art to strengthen their local identity. For example, Oklahoma City has its buffalos, Cleveland has its guitars, and Ft. Wayne has its elephants. posted by Ed | Kalamazoo's job summit and health care Kalamazoo leaders came together to focus on regional strategies for job growth and retention. Read more. Interestingly, the speakers included Dr. William Dietz, director of nutrition and physical activity for the U.S. Centers for Disease Control. Dr. Dietz is an expert on workplace wellness programs. These programs are becoming more central as a practical way to manage health care costs. As the national response to the challenges of managing health care continue to languish, the real action in health care reform is shifting to the state and regional levels. So, for example, Arkansas governor Huckabee has taken on obesity, Indiana has recently launched INShape, and Kansas governor Sebelius has appointed a new Advisory Committee on children's health. Regions that accelerate the adoption of preventive health care solutions will be able to manage the "overhead" of health care costs more successfully than regions that do not. Workplace wellness programs become a key innovation in this strategy. posted by Ed | Missouri, Kansas governors meet, agree, collaborate Last week, Sprint Nextel Corp. and the Greater Kansas City Chamber of Commerce hosted Kansas Governor Sebelius and Missouri Governor Blunt for a summit on regional growth. The meeting was designed to spark higher levels of collaboration between the two states. The governors signed an agreement to promote Kansas City as a unified, bistate area. The region also received one of the WIRED grants to coordinate workforce development across the region. Read more. posted by Ed | Michigan's new SmartZone Civic leaders in Lansing, MI have launched a new SmartZone that includes the Corporate Research Park at Michigan State and areas in downtown Lansing and East Lansing. Read more. One area that is particularly promising for this region: the use of bio-materials in automobiles. Read more. Michigan's SmartZone initiative is designed to concentrate resources to accelerate technology-led development. Learn more. posted by Ed | Northeast Indiana moves along regional path Northeast Indiana is one region that is moving ahead -- step by step -- with a more regional strategy. The City of Ft. Wayne has committed $125,000 per year to promote the region with a regional marketing strategy. Read more. Increasingly, there are discussions in Northeast Indiana about creating a regional development authority, similar to the authority created in Northwest Indiana. These discussions are taking place within the context of the governor's proposal to lease the Indiana Toll Road. Read more. posted by Ed | North Dakota university carves a niche Here's an interesting story out of North Dakota about a university that is leveraging its strengths to become a stronger player in economic development. Read more. Every region of the country has knowledge assets that EDPros can use to build more competitive economies. The challenge comes in strengthening the networks among these assets and then focusing on transformative initiatives. posted by Ed | Georgia's new manufacturing technology center U.S. manufacturing is in trouble, and part of the problem comes in the slow adoption of automation by smaller manufacturers. In part, this problem is related to inadequate skills. It's simply hard to find qualified entry level workers. To address these issues, Georgia launched a new Center for Innovation and Manufacturing Excellence at Lanier College last week. Read more. posted by Ed | Workforce Innovation (WIRED) grants Wednesday, February 01, 2006 The Department of Labor has announced its Workforce Innovation in Regional Economic Development (WIRED) grants, a total of $195 million in 13 regional economies Read more. The money will go to: Coastal Maine (11 counties, including Augusta and Brunswick) Read more Northeast Pennsylvania (nine counties, including Scranton, Allentown and Reading) Read more Upstate New York (nine counties, including Rochester and Finger Lakes region) Read more Piedmont Triad North Carolina (12 counties, including Greensboro and Winston-Salem) Read more Central Michigan (13 counties, including Lansing, Flint and Saginaw) Read more Western Michigan (seven counties, including Grand Rapids) Read more Florida Panhandle (16 counties, including Tallahassee and Pensacola) Read more Western Alabama & Eastern Mississippi (17 counties in Alabama, including Tuscaloosa and Selma and 19 counties in Mississippi, including Meridian and Starkville) Read more North Central Indiana (14 counties, including Lafayette) Read more Greater Kansas City (10 counties in Missouri and eight counties in Kansas, including Topeka) Read more Denver Metro Region (eight counties, including Denver, Boulder and Ft. Collins) Read more Central & Eastern Montana (32 counties covering mostly rural areas) Read more California Coast (13 counties, including Oakland, Los Angeles and San Diego) Read more The Council on Competitiveness will assist the Labor Department in administering these grants. Read more. posted by Ed | |
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