ED Now

IEDC’s 2023 Economic Future Forum will be held next month in Calgary. A few of our conference speakers and sponsors shared some economic development projects and initiatives happening in Alberta.

Aaron Brickman and Lachlan Carey from the Rocky Mountain Institute recently joined an IEDC panel to discuss the historic initiatives within the Inflation Reduction Act. They emphasized the enormous opportunity for economic developers within the $369-billion act. “It’s hard to underestimate just how big of an opportunity this is nationally, regionally, and specifically for economic developers,” Carey said. “The next nine to 15 months will determine the next 15 to 30 years of capital allocation.” The Inflation Reduction Act was signed into law on August 16 by President Biden, and marks the single largest investment in clean energy in U.S. history. It comes at a time when the clean energy industry is rapidly ...

As jobs are slashed across the dwindling coal industry, historic coal towns across the United States face negative population and economic growth. Some towns are now attempting to capitalize on the expanding renewable energy industry by leveraging their unique geography to spur economic growth. The coal industry has been declining in the United States for more than a decade. While it currently produces 19 percent of the nation’s energy output, this number is expected to shrink to 10 percent or less by 2025. Since 2010, the coal industry’s market capitalization has collapsed by nearly 40 percent from $46.1 billion to $18.26 billion, and year-over-year production has shrunk 24 percent. A recent breakthrough from Michigan ...

Around the world, innovation districts are responsible for billions of dollars in economic development. What if these districts could also advance equity throughout communities in spite of opposing motivations and intentions? Written by the CEO of a successful innovation district, City Forward (2022, Island Press) is “essential reading for anyone who wants to engage with communities in a thoughtful and effective way.”

In the past few years there have been substantial efforts to revitalize and diversify Eastern Kentucky’s post-coal economy through small business programs and other local initiatives. However, heavy flooding has and will continue to wash away much of the progress these communities make unless more is done to minimize physical damage from future disasters. Widespread flash flooding recently devastated several Eastern Kentucky counties, killing at least 39 people. The region lies within Appalachia, one of the nation’s most economically depressed and vulnerable regions. Its high poverty rate, mountainous landscape, and housing dispersed in remote valleys all exacerbate the impact of extreme weather which is likely to become more ...

Aaron N. Gruen, principal of the urban-economics, market-research, land-use policy, and pre-development services firm Gruen Gruen + Associates, shares his thoughts on how to combat skyrocketing gas and housing costs.

IEDC’s recent Investment in Attraction in 2022 webinar discussed ways EDOs can strategize to attract more investment to their communities, highlighting emerging trends in our post-pandemic world. The webinar began by outlining where the economy is headed in terms of globalization. There is a corrosion of globalization happening with heightened protectionist policies. All the while much of our business is shifting to become more digital, and remote working is increasing. Combine that with workforce shortages, inflation, higher interest rates, and a possible recession, and investments can become very confusing to navigate. Nadine Jeserich, PhD, vice president of analytics for Gazelle.ai, touched on ways in which EDOs can promote ...

IEDC is accepting submissions for the 2022 Excellence and Leadership in Economic Development Awards through May 13. Amy J. Clickner, CEcD, FM, HLM, CFRM, received the Jeffrey A. Finkle Organizational Leadership Award and Fellow Member status in 2021. The Organizational Leadership Award recognizes an individual who has continuously led the same public or nonprofit economic development organization with integrity, tenacity, and a philanthropic spirit for at least 15 years. Nominees should demonstrate a vast knowledge of the intricacies of the economic development profession and play a pivotal role in the continued success of their organization. They have not only exhibited exemplary leadership but have also worked tirelessly to develop ...