A Peek at the Sham Economy

My but that has a nice ring to it. Tune in on how the Third World is subverting conventional multi-national commerce and creating a dark parallel process - call it black globalization. Do you suppose they're supplying Wal-Mart? Go here.

Should Bloggers Have the Same Right as Journalists

Yes, including the right to low pay and long hours. Take the poll here.

Where Do You Say They'd Retired?

There is a new trend that demographers say will only increase as baby boomers start cashing their Social Security checks: Americans retiring to other countries where the prices are low and the living is easy. Hot spots like Costa Rica, Panama and Belize look like Florida circa 1970: new developments, proximity to water, no snow and lots of hype. More here.

Consumer Creative Advantage

Consumers are not so dumb. Finally, businesses are awakening to the creative genuis residing in those who buy and use their products and services.

How and why are smart companies harnessing the creativity of their customers? That's the question. Click here to get the answer.

Maybe we should apply this same thinking to our work in economic development. I would bet there are several creative ideas local businesses would have about how to improve the location product we offer them. And yes, I know that many of you are on to this idea and have asked your local companies this question. After you read the article, give some deeper thought to how the ideas in the article can be applied to our ED work.

Targeting "Nimble" Companies

Maybe economic developers should target "nimble" companies as future investors in their communities. What is Don talking about? Best you read this article and see for yourself.

Outsourcing Business R&D

A recent Business Week article tells us that businesses are likely to outsource more of their innovation work in the future. First came manufacturing. Now companies are farming out R&D to cut costs and get new products to market faster. Are they going too far? Read the article and see what you think.

States to Push International Trade

That is the subject of an upcoming summit in DC that will draw state legislators, economic development, and trade officials. Yes, promoting exports makes sense. No, exports will not be enough to offset the business and job losses to offshore outsourcing. More here.

Kids Matter

Tennessee has just opened a new website on Early Childhood (Pre-K) Education. According to the website, he foundation for building a better education system begins with high quality early childhood education. Research has shown that children begin to form basic cognitive abilities in their earliest years, and those who are not exposed to letters, numbers and social skills quickly fall behind those who do. Visit the site here.

Manufacturing Survey Results In

The National Association of Manufactureres' 2005 National Manufacturing Week survey shows employers continue to be upbeat about manufacturing in 2005.

Two-thirds of survey respondents expect manufacturing to grow as fast or faster than the overall economy this year, and “an astonishing 65 percent” said they export their products to foreign markets, said NAM's chief John Engler.

“The emerging employment problem in manufacturing is not a shortage of jobs, but rather a shortage of qualified applicants,” Engler said. “A full 36 percent of our members said they have employment positions unfilled right now because they cannot find qualified workers.

More here.

New Cluster Study Released for Piedmont Triad Region

A Target Cluster Analysis for the Piedmont Triad Region has been completed as a key next step in the ongoing development of an economic development strategic vision plan for the 12-county Region.

Download the reports on the vision plan web site, www.piedmonttriadvision.com.

Some interesting work here.

Entrepreneurship and Economic Growth Best Practices

I don't really believe in "best practices," but I do agree there is such a thing as a "promising practice." In any case, here are some examples to look into.

Four state initiatives spurring entrepreneurship and economic growth, and demonstrating market-based results, have won national "Best Practices" awards from the Office of Advocacy of the U.S. Small Business Administration.

The programs were recognized at the Putting It Together: The Role of Entrepreneurship in Economic Development - www.sba.gov/advo/research/conference.html, conference held in Washington.

Business Investment Up in Zanesville, Ohio

In a recently released survey of 674 "micropolitan" economies across the nation, Zanesville ranked ninth in corporate facility development nationally and first in Ohio.

The survey, conducted by Site Selection Magazine, evaluated economic development in communities defined as "micropolitan" -- meaning they have a population of 10,000 to 50,000 and cover a countywide area with a majority of the work force employed at area businesses.

In last year's survey, Zanesville tied for 26th place in the nation with 10 communities in Kentucky, Tennessee, South Carolina and Virginia.

More here.

One of Cleveland's Largest African-American Churches Plans to Suburbanize

Cleveland's Olivet Institutional Baptist Church is a legendary institution in the Cleveland community. The leadership of the 3,000-plus member congregation of the longstanding African-American church announced plans yesterday to build a new church complex in suburban Twinsburg, located 30 miles southeast of its current Cleveland inner city location.

Apparently, Church officials were unable to work out a deal to build the new complex in Cleveland. This is a blow to the city. Major institutions, including churches, museums, orchestras, colleges and universities, government offices, and healthcare institutions, play a major role in economic development. Their role is often understated, which is a mistake.

A recent Plain Dealer article did not provide much in the way of details about why and how this decision was made. This is an important issue from an urban regional economic development perspective. It does not speak well of Cleveland's ability to hold onto its institutional treasures, which have given shape to the community over many years.

To be sure, churches are adopting new "business strategies" everywhere to retain and grow their congregations. Church memberships have declined considerably over the past two decades. Churches are trying to reinvent themselves as a way to keep existing and attract new members. Many churches are now looking to create larger complexes offering integrated religious, social, residential, and educational services.

It will be interesting to see how this situation unfolds in the near future.

Corporate Social Responsibility Update

Interesting read here.

Clive Crook, the Economist's deputy editor, who is as sceptical about the benefits of corporate social responsibility (CSR). In his recently published survey, Crook divides types of CSR into four categories: “win-win”, “borrowed virtue”, “pernicious” and “delusional”, and believes that most efforts fall into the latter category—they neither make a real difference to society nor improve a company’s bottom line. A public firm’s first loyalty, Crook holds, should be to its shareholders: managers should not reward their own virtue at investors’ expense.

And your thoughts? More here.

Steel Industry Update

Here is one you might want to pay attention to, whether you are steel-producing or steel-using town.

Last year was one of the best on record for the world’s steelmakers. But a huge rise in the price of iron ore seems likely to squeeze their profits this year. And China’s booming steel output could yet propel the rest of the world’s producers back into the doldrums. More here.

Bloggers Ain't Journalists Per Se

I've been blogging for a long time. Since ED Futures is a blog, I thought I'd pass this one along. I have never seen myself as a journalist, by the way. More here.

Retiree Attraction Oxford, Miss.-Style

In the March issue of Kiplinger’s magazine, Oxford, Mississippi, along with Ithaca, N.Y., Baltimore, Md., and St. George, Utah, was recognized as one of the best places to retire and the best college town for retirees to live. Cool place. Been there and now I know why John Grisham writes so well. More here.

Great Story from Midlands, SC

Here is a must read for everyone trying to make the high tech thing happen. And who isn't in one way or another? This is a story about the midlands region of South Carolina, where there is a strong push to move the region in new growth directions. More here.

Michigan Doles Out the Dough

That is the message in a recent Toledo Blade article talking about how Michigan has become increasingly aggressive in the fight to keep companies and attract new ones, using its financial coffers to make deals. It's a tough environment for Michigan, and its surrounding states, to tread water. More here.

Young Biotechs Learn to Walk, and Run

Here is an example of what to look out for if you're trying to homegrow biotechs these days. Boulder Colorado-based Sirna Therapeutics Inc., one of Colorado's few publicly traded biotech firms, will move its headquarters to San Francisco, inflicting a blow to the state's biotech industry. More here.

Lehigh Valley PA Grows as Distribution Center

Some places are working like mad to attract their first distribution center. Pennsylvania's Lehigh Valley does not have to work so hard to develop these operations given its proximity to major east coast markets. Click here to read about these developments in the Valley.

Michigan Givernor Pitches $2 Billion ED Bond

Michigan Governor Jennifer M. Granholm pitched her plan for a $2 billion bond sale for a state venture capital fund designed to attract the high-paying jobs of the future.

Granholm wants taxpayers to support state-led investment in the jobs of the future -- in life sciences, universities, fuel cell technology and homeland security. An independent panel, presumably made up of venture capital experts, would decide what types of R&D firms the state would invest in.

More here.

Research Triangle EDOs Band Together

A coalition of 25 chambers of commerce and economic development organizations are banding together to launch an economic development legislative action agenda to promote job growth in the region.

The coalition unveiled its 2005 Research Triangle Economic Development Legislative Action Agenda at a press conference held at the State Legislative Building. The agenda is pushing for action in three areas that have the most impact on recruiting and growing jobs in the region: education and workforce development, incentives, and transportation. More here.