Washington, D.C. – The International Economic Development Council (IEDC) has released its latest Economic Development Research Partners (EDRP) report titled “Leading and Managing Next-Level EDOs: Leveraging Technology.” The report encourages economic development organizations (EDOs) to devise intentional strategies for adopting new technology.
In today's digital era, technology is an integral part of economic development and is reshaping day-to-day work and the profession at-large. Emerging technologies such as artificial intelligence (AI) and extended reality (XR) are accelerating data analysis and decision-making, transforming core EDO functions. The report examines the impacts of AI and XR on site selection, industry analysis, investment attraction, placemaking and tourism, workforce development and education, proposal-writing, and smart infrastructure planning and deployment.
“IEDC’s network of leaders at the intersection of economic development and technology are helping to redefine the profession and the way that technology integrates into the field,” said IEDC president and CEO Nathan Ohle. “Their experience provides valuable insight into how EDOs can proactively build technology fluency and management strategy to align with organizational goals and ultimately advance their mission of driving equitable economic outcomes for their regions.”
The report includes best practices and discusses common pitfalls such as lack of stakeholder buy-in and insufficient scoping of long-term technology adoption. Given the recent proliferation of AI, the report outlines key elements of organizational AI-readiness including strategic alignment with data practices, resource allocation, and ethical use. Readers will learn about new tools and how to improve workflows, adopt relationship management platforms, automate repetitive tasks, implement email practices, optimize filing structures, and leverage generative chatbots.
“EDOs need to routinely reevaluate systems and strategies to effectively leverage new technology and meet new expectations,” said Jeanine Jerkovic, CEcD, EDRP chair and economic development director for the City of Surprise (Ariz.). “Integrating new technology and data tools allows EDOs to adapt and thrive in the rapidly changing economic development landscape.”
About Economic Development Research Partners
The Economic Development Research Partners program is an exclusive membership level of IEDC, which supports practice-oriented research. The publications developed under EDRP's guidance and sponsorship are designed to increase the knowledge base of the economic development profession and help practitioners navigate through today's rapidly changing economy. Through the EDRP program, IEDC excels at its mission everyday: to assist practitioners in successfully competing in the global economy, increasing prosperity for communities at an accelerated pace, and empowering economic development professionals to better define their vision and value.
About International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 4,300 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities by creating, retaining, and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members engage in the full range of economic development practices. Given the breadth of economic development work, our members are employed in various settings, including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions. Learn more at iedconline.org.