Capture Your Local Business and Economic History

It occurred to me in reviewing state historical archives recently that most states and communities are not capturing their business and economic history. These agencies keep tons of historical files on other subjects, but relatively little business and economic history information. Economic developers are busy creating new 'economic futures' for the areas they represent, but maybe they should devote a little more time to preserving information and knowledge about their area's economic and business accomplishments. How easy we forget unless we are reminded.

Who should tackle this challenge and why? Let's deal with the why question first. It's important because businesses, students and other people in the community should look at their business and economic history as a source of ideas and inspiration for the future. In some cases, they need to review their history to avoid making past mistakes, and in other cases, they need to review their history to unearth good ideas that can be used again. I find that this information is often important to the visioning part of the economic development strategic planning process.

Who should undertake this challenge? This strikes me as an area where local colleges and universities could work with local and state historical societies and libraries to do the job. Where would the money come from? Why not ask your local community and corporate foundations to help? Once state budgets are back on their feet, maybe state legislatures could provide some funds for this task.

This is important because it reflects the 'economic legacy' of an area. We should not live in the past, but we certainly need to learn from it.