More Budget Cuts and Battles for Economic Development

As we scan the country to keep you informed about what is happening in economic development, we are finding a wave of bad news about economic development budgets. Not all the situations listed below have been decided, but many appear to be headed in the wrong direction as far as state and local economic developers are concerned. And yes, there is some good news mixed in.

Here are some recent ones we've encountered:

- Glendale, AZ.

- State of Arizona.

- Iowa, which we reported on in the previous article.

- Big Springs, Texas.

- Wyoming.

- Erie, PA, which is expected to get some additional funding (Good news.)

- Kentucky Enterprise Zone Program faces difficulty in getting renewed.

- Topeka, Kansas raises $750,000 new dollars for economic development. (Good news.)

This is a tight environment for ED fund-raising. Not impossible, but very difficult. Arm yourself with the evidence that your program or organization has created new value for its stakeholders. Be ready to talk about your economic impact. Be sensible about these efforts. Don't exaggerate benefits.

Economic development done properly is a long-term investment in your area. Make the investment argument. If all else fails, be ready to explore alternative strategies. Most importantly, raise money for the right types of programs and initiatives.