Corporate Execs Taking Stronger Public Stand

If you haven't noticed, corporate executives across America are gearing up with their money and influence to shape the public policy agenda for economic development. I'm seeing the signs of increased attention to these issues in several places, including Cleveland, Denver, Phoenix, Philadelphia and the Bay area, just to mention a few.

Here are a few examples. Yesterday, Peter B. Lewis, the Chairman of Progressive Corporation in Cleveland announced he was willing to commit up to $12 million to get George W. Bush out of the White House. Also in Cleveland, the Greater Cleveland Growth Association said last week it plans to increase its pressure in the local and state political arenas to get the public sector aligned with marketplace.

Denver CEOs, through their new regional economic development initiative, plan to increase their say on regional infrastructure priorities and other public policy initiatives. In Phoenix, the Greater Phoenix Economic Council and the Phoenix Area Chamber are looking at new ways to shape the state and local policy arena.

A recent survey of Bay area CEO's reveals they see a need for more attention to political issues given the state's fiscal crisis, the ousting of Gray Davis from office and other issues.

An article in yesterday's Philadelphia Business Journal examined the role of business money from both inside and outside the City in influencing the recent mayoral race.

Do we have a trend here? I think we may. What's going on? In a nutshell, the past three years have been hell for most CEOs and their companies. Because of the economic drought and other events, economic development has pretty much come to a sreeching halt. Now, the economy is showing good signs of growth. Most companies face some very tough choices in the next six months about how and where best to grow. A growing number of CEOs are frustrated by the inability of public sector leaders on all levels to make the right economic policy decisions. A number of key state and local political races are coming up in 2004. So, I think that is what is prompting this latest flurry of political activity by CEOs across the country.

Stayed tuned.