Economic Development Now

New Realities for Economic Development Organizations
Shifts in the 21st century economy are pushing economic development organizations to transform their business practices. This paper, sponsored by IEDC's Economic Development Research Partners, explores how EDOs across the country are adapting their practices to manage new realities in funding, measuring performance, organizational structures, partnership management, strategic planning and leadership development.

Four Steps for Smart Lead Generation from the BRICs (and Elsewhere)
Seeking investment from the emerging markets of Brazil, Russia, India and China involves strategies both common to and unique from investment attraction in other markets. Four steps and a case study help illustrate a successful approach. (This article is the second part to "Understanding the BRICs as a Source of Foreign Direct Investment", published in the March 5 ED Now.)

Economic Development Journal - Winter 2012

The Winter 2012 issue of economic development's premiere publication is now available to download. Articles include:

• Unleashing Fundamental Change: Networking Transformational Thinking and Action Through Economic Development
• Clean Energy: An Ultra-Dynamic Game of Chess
• Turning Coal into Diamonds: The Ottawa Power Station Redevelopment Project
• Building an Entrepreneurial Ecosystem in Northwest Florida: A Multidimensional Strategy for Building an Innovation-based Economy
• Sustainable Lisle Business Partnership: Green By Choice
• Auto: One of the Most Significant Industries in North America

Federal Reserve of Atlanta's Free Economic Development Podcast for May

Closing the Gap: Improving Minority-Owned Small Firms' Access to Credit: Small minority businesses typically pay higher interest rates and receive smaller loans than nonminority-owned firms of similar age and size. Tim Bates, professor of economics at Wayne State University, explores ideas to increase access to capital so minority companies can create jobs and expand their businesses.

About the Free Podcast Series: Today's economy challenges economic developers to re-evaluate their strategies. This free podcast series, brought to you in partnership by IEDC and the Federal Reserve Bank of Atlanta, features experts discussing how they've adapted existing strategies or created new approaches to economic development.

"Executive and Professional Competencies for Economic Developers"

"Executive and Professional Competencies for Economic Developers" (PDF) is a guide designed to help individuals and organizations understand the core competencies necessary for success in economic development. It includes a comprehensive set of guidelines for economic development organizations to follow when evaluating their current employees and recruiting new employees. These are divided into two models that clearly define the common individual leadership competencies of 1) high performing executives and 2) high performing professional economic development staff. It can also be used as a self-assessment tool by professionals interested in entry or advancement in the economic development field

Non-Member Price: $75.00
IEDC Members, please log in to download this publication for free.

EDA's "Building Disaster-Resilient Economies" Webinar Available for Download

On January 26, 2012, IEDC joined the U.S. Economic Development Administration (EDA), the National Association of Development Organizations (NADO) and the U.S. Chamber's Business Civic Leadership Council (BCLC) in co-sponsoring a webinar on post-disaster, long-term economic recovery. The event provided preliminary guidance on the funding priorities and requirements for EDA's FY2012 appropriations of $200 million for long-term disaster recovery. This money is available to areas that received a major FEMA disaster designation between October 1, 2010, and September 30, 2011. The webinar featured case studies of St. Louis County, MO; Hancock County, MS; and Corning, NY and a review of RestoreYourEconomy.org.

Click here for a link to watch the webinar or download speaker presentations.

IEDC Signs National Manufacturing Strategy Charter

IEDC has recently signed A Charter for Revitalizing American Manufacturing (PDF), a project of the International Technology & Innovation Foundation (ITIF). As an original signatory to the Charter, IEDC supports the creation of a coherent national manufacturing strategy inclusive of the policy recommendations contained in the Charter. IEDC, along with several other key thought leaders on manufacturing policy, will closely monitor the path of the Charter as it circulates in Congress and the Administration.

IEDC Training Courses Approved for Credit by American Planning Association

IEDC training courses have been approved for credit by the American Planning Association (APA) under their Certification Maintenance (CM) program. The CM program allows American Institute of Certified Planner (AICP) certificate holders to receive continuing education credit for attending approved activities and events. In addition to the courses, a number of sessions at the 2012 IEDC Leadership Summit are also approved for CM credits.

All other IEDC Conferences will be submitted for CM credits as program details become available.

IEDC Supports the Marketplace Fairness Act - Here's Why

The Marketplace Fairness Act addresses the disparity in sales tax collection obligations between online retailers and brick-and-mortar retailers. Learn more about this bi-partisan effort that would improve the competitiveness of retailers in your community.

New Report: Jobs in the Making: Economic Development Strategies to Grow Manufacturing

Jobs in the Making: Economic Development Strategies to Grow Manufacturing, is the result of a year-long research project supported by the Economic Development Research Partners program. This report explores the evolution of the manufacturing sector and what communities can do to foster its viability. It combines high-level discussions of important market trends with nuts-and-bolts guidance on what those trends mean for communities that are working to protect and grow manufacturing jobs.

An overview of the sector's history and importance to the U.S. economy provides context for the report, along with an examination of trends that have led manufacturing to become more innovative, open and globalized. Research plus interviews and surveys of leading economic developers identify key trends and strategies to retain and grow manufacturing firms. The report includes action steps for cultivating supply chain opportunities, creating innovation networks, promoting exports, developing a skilled workforce, expanding access to financing, and other tools and ideas.

Fourteen case studies highlight strategies around finance, innovation, entrepreneurship, international partnerships and more. The report also includes a comprehensive list of federal resources and a toolkit of resources for addressing layoff aversion, surveying dislocated workers and assessing transportation and logistics competitiveness.

Non-Member Price: $75.00
This publication is free for IEDC members to download. Please visit the EDRP Publications page to do so.

IEDC Launches RestoreYourEconomy.org

Through an EDA grant, IEDC has developed RestoreYourEconomy.org to provide economic development professionals with practical guidance and post-disaster recovery tools and information to promote investment, to retain local employment, and restore lost jobs in the event a of disaster. Visit the site to join one of the Facebook and Linkedin groups, download a free resource, or learn about strategies deployed by other disaster-impacted communities.

Free IEDC Publications for Download

Powering Up: State Assets & Barriers to Renewable Energy Growth
As energy becomes an increasingly important national and global priority, there is a significant hunger on the part of the economic development community for useful information on how to effectively support the development of their renewable energy industry. Many states have proactively generated policies with the goal of launching a viable and ultimately competitive renewable energy industry. IEDC's new report, Powering Up: State Assets and Barriers to Renewable Energy Growth, employs primary and secondary research to provide a current snapshot of what states see as their assets for renewable energy development, and the policies they are using to strategically develop their renewable energy industry as both an end goal in itself and as a lever for wider economic development. The report also highlights strategies and best practices in funding mechanisms as well as supply chain issues faced in developing renewable energy sectors.

The Role of Local Elected Officials in Economic Development: 10 Things You Should Know
Economic developers will find this publication a valuable tool in building their relationships with their local elected officials. The guidebook outlines the “top 10 list” of things elected officials should know about economic development in order to be effective leaders. The publication is the result of a partnership between the National League of Cities Center for Research and Innovation and the International Economic Development Council.

Getting Prepared: Economic Development in a Transforming Energy Economy
While the specifics of the transition to a low-carbon economy are still being debated both nationally and internationally, it appears likely that some type of cap and trade or carbon pricing will emerge. This report helps economic developers and those in related fields think about how they can position their economies to benefit from the transition.

Creating Quality Jobs: Transforming the Economic Development Landscape
As the role of economic developers has expanded to include everything from technology transfer to attracting retail to expand a community's tax base, the profession must examine the types of jobs it is creating and how well they meet the needs of individuals and communities in a globalized, skill-based economy. This report identifies the role of economic developers in creating quality jobs and improving the quality of existing jobs.

An Improved Federal Response to Post-Disaster Economic Recovery
This report identifies capacity, resource and regulatory constraints imposed on local communities after a disaster, and presents a series of recommendations on how federal partners could better assist communities in their recovery effort.