Jacksonville Counts Its 2005 Economic Blessings

The year 2005 will be remembered for many things in Jacksonville be remembered for many things in Jacksonville. The city hosted the world in February when the Super Bowl came to town. To read about other Jacksonville achievements click here.

Think Small in 2005

Everybody's cuckoo over "nanotech." For some insights into where the field is headed and what it means to all of us, click here to read an excellent article in the current issue of the Economist.

Economic Outlook 2005

Click here to see what 60 leading economists are saying about growth and the emerging business climate for 2005.

Possible "Wild Cards" for 2005

A recent Business Week article (click here) identifies five "wild cards" that could de-rail the favorable economic growth forecast envisioned by economic forecasters.

They are:

1. Falling U.S. dollar.
2. Major oil price shock.
3. Rising inflation.
4. Bursting housing bubble.
5. Global turmoil and crisis.

These are important issues to factor into your local or state economic outlook for the New Year.

Major Technological Innovations in 2004

Business Week has a wonderful article in its current issue (click here) about the greatest technological innovations in 2004. It is well-worth reading, especially if you're wondering how science touches our lives on many levels.

Happy New Years!

Welcome to 2005.

I wish each of you as an ED Futures reader a healthy, happy, and prosperous New Year.

May this year be filled with meaningful accomplishment in your personal and professional lives. And may your work in economic development be blessed with wisdom, understanding, foresight, quality achievement, and compassionate leadership.

Best Wishes,

Don Iannone
Ed Futures Publisher

2004 In Review At DTIA

In an article earlier this week, I shared my top wishes for economic development in the coming year.

I would like to take a few minutes to share what I define as my company's (Donald T. Iannone & Associates) major contributions to economic development during 2004.

First of all, 2004 was a great year by all standards. 2004 started with a bang. Several new consulting projects moved into the starting block as January began.

Many of my contributions in 2004 were in Pennsylvania. Working closely with Jack Allston at the Northwest Pennsylvania Commission (NWC), a number of new strategy consulting projects were initiated, starting with a new regional ED strategy for the Commission and the 8-county region. I am pleased to see that the NWC has re-aligned itself and moved to a performance-based approach to regional economic development. There were some difficult organizational issues associated with this project, but the NWC's leadership rose to the challenge and got the job done. I offer my congratulations to Jack and his Board.

A countywide ED strategy project began in May in Crawford County, PA, which is in the wrap up phase now. A final version of the Crawford County Economic Roadmap was delivered just before Christmas. There were many organizational, leadership development, and consensus-building issues associated with this project, but once again local leadership met the challenge head-on and got the job done. I tip my hat to Tommy Lang (Chairman, Dad's Pet Care Products), Morris Waid (Chairman, Crawford County Commission), Jack Lynch (Crawford County Planning Director), Mark Turner (the new CEO of the new Crawford County Economic Progress Alliance), and once again Jack Allston (NW Commission), who exhibited extraordinary leadership with this important project.

Two other Pennsylvania projects are underway. I find myself partnered with the Northwest Commission on both of these projects as well. A new countywide ED strategy process was set in motion in September in Clarion County, PA, where County Commissioner Donna Oberlander and Randy Rice, from Clarion University, have exercised excellent leadership in building a new integrative and performance-based strategy for Clarion County. This project is expected to be concluded by March 2005.

Also in September, I began work on an exciting new economic development leadership training program for rural Pennsylvania. My clients in this case are Penn State University's Rural Leadership Development Program (RULE) and the NW Commission. Congressman John Peterson, who represents a large number of rural counties in Northwest and Northcentral PA, was instrumental in securing a federal grant to fund the new leadership initiative. Work is progressing well on the new program, to which I give credit to JD Dunbar (Executive Director of PSU's RULE Program) and again Jack Allston (NWC) for leading the charge.

I was pleased to help two Ohio counties update their economic strategies in 2004. The first is Wayne County, where I worked in 1997 to help the Wayne Economic Development Council to create its first strategy. The current effort is the first major update to that strategy. It was a pleasure to work with Steve Matthew (Will-Burt Company) and Steve Schmid (Smith Dairy) in re-vamping the Wayne Development Council and equipping the organization with a new performance-based strategy. The new plan was adopted by the Council's leadership and is now being implemented. The second Ohio county project was Washington County, where I worked with leadership to help them create a strategic action agenda to guide future economic development efforts. The Washington County CIC, Marietta Area Chamber, and other leadership groups are taking the agenda to the implementation stage now. Mark Bradley (Peoples Bank) and Charlotte Keim (Marietta Area Chamber) played a very key role in getting this project accomplished.

In the workforce development area, I was pleased to help the Governor's Ohio Workforce Policy Board to develop a policy focus on how global business strategy impacts job creation in Ohio. It was a pleasure to work with the OWPB's Chair Donna Alvarado and its Executive Director Daryl Hennessy to undertake this important piece of work. I am pleased to see the Policy Board move forward with this important piece of work. Secondly, I enjoyed working with the U.S. Department of Labor's Employment Training Administration's Region 2 Office (Philadelphia) to develop new initiated strengthening collaboration between workforce development and economic development in the Mid-Atlantic Region. It was a pleasure to work with DOL's Regional Administrator Lenita Jacobs-Simmons and her staff to undertake this important assignment.

I began work on the Economic Development Element of a new joint Comprehensive Plan for Fort Wayne and Allen County, Indiana. That project is still underway, after a short pause. I expect work on this important project to conclude by late Spring 2005. I will have more to report on that project in next year's accomplishments summary.

I was involved in a number of smaller projects during the year, which I am very pleased to have assisted. These included projects for Cuyahoga Community College (Cleveland, Ohio), Beachwood, Ohio, Solon, Ohio, the new Team Northeast Ohio, CAMP, Inc. (the advanced manufacturing center for Northern Ohio), Greater Phoenix Economic Council, Michigan Economic Developers Association, The Economic Development Institute (University of Oklahoma), Lake Havasu City Town Hall, Wood County, Ohio Economic Development Commission, and the Northeast Indiana Corporate Council. I give thanks to all these organizations and their leadership for allowing DTIA to be of service.

I was pleased with the progress made in my ongoing effort to promote national and global partnerships by ED organizations in 2004. This involved several keynote speeches and the publication of a stage-setting article in Economic Development America on how ED organizations can build new and strengthen existing national and global partnerships. I have received several invitations to continue speaking on this topic in 2005. I expect growing interest in this subject in the coming year as the global economy advances and as ED organizations strengthen their strategies.

Finally, ED Futures has progressed during 2004. There are now nearly 9,000 people worldwide who subscribe to ED Futures newsletter and nearly 200,000 visitors to the ED Futures website during the past year. Most of all, I have enjoyed the dialogue with ED professionals, their Board members, and business executives about economic development issues worldwide. This has been a great source of learning for me, and chance to give something back to the profession. I am grateful to all of you for helping to make 2004 a successful year for ED Futures.

Happy New Years!

Don Iannone, ED Futures Publisher

Mayors & Business Leaders Summit

Maybe you missed this one in early December. The United States Conference of Mayors convened their second Economic Summit in Washington, D.C. with mayors and business leaders to discuss how to promote investment and spur the growth of the nation’s 318 metro areas – made up of cities and suburbs.

Download the report here, which characterizes job change (and growth) across US metro areas. Useful analysis for your benchmarking efforts.

Austin Green Building Program

Here is a resource you might want to look at if you are working on green buildings in your community. The Austin Green Building Program offers an example of how a community can use the Web to support green building intiatives in a community.

Community Sustainability Indicators

I discovered a very useful and interesting website about indicators of sustainable community; that is ways to measure how well a community is meeting the needs and expectations of its present and future members. One of the primary goals of the site is to explain what indicators are, how indicators relate to sustainability, how to identify good indicators of sustainability, and how indicators can be used to measure progress toward building a sustainable community.

Click here to learn more.

Editorial: The South Asian Tsunami and Some Lessons for Economic Development

As the shock and horror of the recent South Asian tsunami settles in, I have been thinking about what this unfathomable natural disaster means to my work in economic development.

First and foremost, my heart goes out to the nearly 70,000 people killed by this disaster and their families. It's up to each of us to help in whatever we can to lessen the pain and suffering caused by these losses.

Second, this disaster is a vivid reminder to all of us of Nature's power, and the need to heed the voice of our Earth Mother when She speaks to us with such force. It makes me take stock of my work in economic development and whether I am doing enough to protect our natural environment that sustains all of us. The simple answer is there is much more than I can do. As I scan the economic development industry worldwide, I do not believe that we do enough as stewards of our environmental resources. The communities of our Earth must do a better job of living in balance.

Third, the tsunami disaster has huge economic (and economic development) implications for South Asia. Much economic pain will be felt by these already very poor nations as they struggle to achieve a higher level of economic progress. This destruction will hobble the fledgling tourism and production industries in those countries most impacted by the disaster.

Finally, all of us must pay closer attention in the future to the stresses and strains being experienced by our natural environment. There are many reminders as we look across the United States: 1) the recent hurricanes in Florida and the Gulf Coast; 2) past tornadoes that have devastated many states across the country; 3) severe earthquakes in California and other states in recent years; and 4) the gradual erosion of our natural resources in many places as sprawling development intrudes upon our natural landscape.

I, for one, plan to take heed of these important lessons. I would encourage each of you as readers of ED Futures to examine yourself and determine whether you can do more in the future.

Green Building Market Demand Growing

The market for green buildings has been increasing at a strong pace since the Leadership in Energy and Environmental Design (LEED) Green Building Rating System was introduced in the spring of 2000 by the U.S. Green Building Council (USGBC).

In all 50 states, in Canada and 10 other countries, owners and developers have registered their intent to certify their building projects under the LEED system.

From a standing start in 2000, more than 1,400 projects in four years have registered to achieve various levels of LEED certification and 121 have been certified, for a total of 177 million square feet of buildings.

More here.

Manufacturers That Get the "Sustainability Thing"

I ran across a series of informative case studies on how manufacturing companies worldwide are getting with the sustainable development movement. You can view this information by simply clicking here.

Business Strategies for Sustainable Development

Click here to download a very useful report discussing business strategies that work in advancing sustainable development in companies. Very useful read!

Gambling Tech Firm Looks at Pennsylvania Operation

An international gambling technology firm is looking at Fayette County, Pennsylvania as its U.S. base of operations.

As you might expect, the move will bring with it several hundred new jobs, but is contingent upon landing a government contract to provide, install and maintain the state's gaming software.
EssNet Interactive, a division of EssNet AB, is one of several companies to submit a proposal for the job, which is to digitally track the usage and revenue of 61,000 slot machines at 14 proposed Pennsylvania gambling sites.

More here.

Indian Gaming Facilities Told to Clean Up Their Acts

A dispute over how some tribal casino profits are spent threatens to close three Cheyenne and Arapaho casinos in Oklahoma. The casinos are being scrutinized by the National Indian Gaming Commission and the FBI, which have conducted investigations since at least April. More here.

Indiana County Goes GIS

Here is an example of what is possible for a community or county that wants to use geographic information system (GIS) technology to support economic development and planning activities.

Pittsburgh Update

You may find this article about Pittsburgh of interest. It tells the story of the City's struggle, but also its promise. There is hope. Hang in there Pittsburgh!

Local Suppliers Want a Piece of Dell in North Carolina

While Dell has a core group of national and international suppliers it uses for computer parts, it often uses local firms for services related to the setup of its facilities, as well as for general items ranging from office furniture to corrugated cardboard boxes. Click here to read more.

Witchita's Top Ten ED Stories

Click here to find out what they are. At the very top of the list is what happens to the commercial aviation business of Boeing, which has a major presence in the area.

$3 Billion Invested in Downtown St. Louis

Great job! That's my reaction in hearing this news. Downtowns are slipping away from us everywhere. They are important centers of our communities in various ways: economic, social, culture, and entertainment-wise. One bit of advice: In addition to building a lot of stuff, make certain that downtown St. Louis is socially-wired so people want to be there. Work on the social architecture of place!

Since 1999, $2.5 billion in public and private investment commitments have been made downtown. "As that figure approaches $3 billion next year, St. Louis will become a national story," St. Louis downtown development chief Tom Reeves said.

More here.

Let's Work Together

That's the plea in Colorado, and a good one in any state. Read the article here.

Colorado is a magnificient state in many respects. Its natural environmental beauty is unsurpassed. I would urge Colorado economic developers to remain mindful of their natural assets as they "work together" to increase prosperity across their fine state.

Are Incentives Worth the Price We Pay

Click here and read this article about the costs and benefits of ED incentives. It has some food for thought as we look ahead to the New Year.

Maybe we should not be afraid to ask more honest questions about the pros and cons of development incentives.

Maybe it's time we have the guts to fix the problems that cause us to cling to short-term "band-aid" fixes, when long term structural changes in tax policies are needed.

My 2005 Economic Development Wish List

Here are my five wishes for economic development in 2005:

1. Economic development organizations (EDOs) for once and all take the long view of what they do. EDOs need to give more attention to creating the "future environment" in which businesses, communities, and people can prosper. Just making businesses happy with more short-term "gimme" programs is NOT the answer.

2. As a profession, we should work harder at thinking and acting globally. We need to start by evolving a new shared global vision of local economies. We need to raise our sights above the business of recruiting international businesses and promoting international trade. These activities are important, but they are only a tiny aspect of what we really need to do in connecting local economies across the planet. Look at the global realm of possibilities that await us instead of simply thinking what is good for individual places, industries, and businesses.

3. Economic developers need to look at scientific advances in all fields and identify the implications of these advances to economic development. One place to start is to examine how the discoveries in quantam physics and complexity theory could alter our current organizational models for economic development. Our current work, for one, is still far to driven by power-hungry competing hierarchies, and it is not influenced enough by power-sharing networks.

4. We need to truly become more engaged in a global dialogue about sustainability. Put an end to the narrow-minded debates pitting the natural environment against local economies. The two are inseparable. Local economies exist within Nature, not outside Her. Allow biology to become the organizing metaphor for economic development in the future.

5. Revisit our deepest "intentions" in the field. What are we really trying to do? Is broad-based prosperity a real intention underlying what we do? Are connectivity and collaboration real intentions underlying what we seek to accomplish? Do we share a deep concern about humanity and the quality of life for people everywhere? Should meaningful work be an underling intention for your work efforts in the future? Maybe we need to "intend for" some things that we currently have no mindfulness of. The journey starts in the hearts and minds of those calling themselves economic developers.

Is Michigan's ED Strategy Sufficient?

According to a recent Grand Rapids newspaper article: "Stop-gap successes, however, are less answers to Michigan's economic problems than postponements of the worst effects. The Michigan economy -- addressing competitiveness issues, in particular -- will need to be atop the state agenda for the new year. There is no denying the hits Michigan has taken or the likelihood of more of them."

The article goes on to point to some of the leading indicators that Michigan's current ED strategy may not be sufficient to get the state where it needs to go. In looking around, I agree. But I would offer the same comment about almost all state ED strategies that are in place. They are insufficient in creating a globally-linked environment, where businesses and people can connect to emerging future opportunities.

More here.