Take Note of Tallahassee

Is your ED organization facing a battle with a local government funding source that is threatening to withhold its check this year? Several EDOs I have known over the years have faced these issues. Many local governments are feeling significant revenue pressure. They must be able to speak to the worthiness of any investment they make, even in economic development.

If this situation applies to your organization, you might want to review what has been going on in Tallahassee, Florida, where city officials had put a hold on their check to the local EDC.

There is always more to these situations then what gets reported in the local newspaper, but you might find this to be an interesting read.

My advice is to be prepared to speak to the return on investment (ROI) that your local government receives from its investment in economic development. It all starts with your organization operating in a highly performance-based way. I know some organizations that have not been able to demonstrate their worth, and as a result have lost funding. Be proactive around communicating frequently and effectively with your funding sources about the value of their investment in your organization. The worst time to do it is when you ask for the next check.