Idaho Falls: ED is More Than Just Jobs

Here are a few clips from a recent article that I speaks squarely to what ED is all about:

"Too often, people are looking at the short term, as if job creation is the be-all and end-all," said Tim Solomon, executive director of the Regional Development Alliance. "You have to build economic foundations."

"It's about companies adding value, bringing money in and making people more wealthy," he said. "You have to ask, "Can the community be more profitable and the company more profitable simultaneously?"'

Years ago, Solomon wrote a master's thesis on economic development. But when asked for a precise definition of economic development, Solomon said it was in the eye of the beholder.

"There is no common definition of economic development in the world," he said.The success of any economic development effort can be measured by two yardsticks -- a rise in per-capita income and a corresponding decrease in poverty.

More here.