New Realities for Economic Development Organizations
Author: Shari Nourick. 2012. 20 pages.

Economic development organizations (EDOs) are operating in a new landscape due to shifts in the 21st century economy and an uncertain recovery from the Great Recession. The new landscape is complex and uncertain, marked by heightened global competition, an urgent need to increase efficiency, more stringent demands for accountability from investors and stakeholders, and pressure to create and retain jobs in a severely impacted labor market. As economic changes and other factors challenge EDOs and communities across the nation, these shifts also have pushed practitioners to become more strategic, creative and nimble, and in some cases have enabled them to enhance their leadership position in the community.

This paper identifies the factors shaping today's economic landscape and how economic development business practices are adapting in response. Funding, performance measurement, organizational structures, strategic partnership management, strategic planning, and leadership development are some the issues explored in this paper. The report also includes examples of how some organizations are addressing these challenges.

IEDC Members, please visit the EDRP Publications page to download this publication for free.

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