Managing the Economic Value Chain

What is the most important issue in economic development today? It's how geographic areas manage and growth their "economic value chain."

Haven't heard of that issue? It is a new concept that I have been working on over the past several months as I watch a number of EDO's bite the dust as a result of budget cuts and reorganization.

The central issue for all EDO's today is to demonstrate the "value" they add through their services and other activities to businesses and communities. Yes, job development remains important, but building the economic value chain of communities, regions and states takes precedence over jobs. This is the core issue underlying industry cluster development strategies, technological innovation initiatives, education/workforce development programs and other strategies employed by state and local EDO's.

This is one you will need to think about. My keynote speech at the California Association for Local Economic Development (CALED) two weeks ago discusses this new concept, how to think about it and how to rebuild your organization to contribute more to your area's value chain. It was well-received by CALED members. I think you will like it as well.

This is a must read. Download my Power Point slides here: iannone_caled_3-16-03.pdf

Send me an email or call me if you'd like to discuss this issue.

Email: dtia@ix.netcom.com
Phone: 440.449.0753