2026 marks the 100th anniversary of the International Economic Development Council (IEDC). For a century, IEDC has helped lead and shape the economic development profession, elevating innovative approaches that drive economic prosperity for communities of all sizes. As we enter our centennial year, we are both celebrating that legacy and focusing on the ideas, partnerships, and strategies that will shape the next era of economic development.
To celebrate this moment, IEDC is partnering with leading economic development organizations (EDOs) from across the globe to convene a series of Centennial Events throughout the year. Each event focuses on a timely issue facing the profession and is grounded in the work of EDOs that are driving results in their communities and regions. These convenings allow IEDC to learn alongside practitioners, share insights across regions, and highlight how local leadership is influencing the future of economic development.
The Centennial Event Series kicked off in late January with Talent Is the Strategy: How Perception and Place Are Now Deciding Where Companies Invest, hosted by the Greater Richmond Partnership. This was a unique opportunity to explore one of the most critical issues facing economic development today: the role talent plays in business location decisions and the growing intersection between workforce development and economic development.
If you have read IEDC’s State of the Field report or explored our members-only interactive dashboard, you know that talent consistently emerges as one of the most significant areas of focus for economic developers. With more than 150,000 data points informing this work, the findings are clear. Practitioners across the field are prioritizing workforce strategies as a central driver of economic growth and calling for stronger integration with workforce systems. As the profession continues to evolve, this integration represents one of the most important opportunities for long-term growth and impact.
I was joined in a panel discussion by Robyn Domber of Development Counselors International (DCI) and Chris Lloyd of McGuireWoods Consulting to discuss the key themes shaping location decisions, investment readiness, and community competitiveness, as well as how the Richmond region is positioning itself for continued economic growth.
Robyn’s presentation offered a compelling look at how the Richmond region has evolved over the past decade, with talent development at the center of its strategy. This focus has helped shift perceptions of the region while laying the groundwork for long-term success. Their work emphasizes alignment among site selectors, economic development practitioners, and business leaders, helping to accelerate deals and ensuring the region tells its story with a more collective and consistent voice.
As the conversation turned more directly to location decision-making, Chris highlighted how infrastructure has become the new gatekeeper. Investment in infrastructure planning, site preparedness, workforce systems, and community alignment are no longer independent efforts. Together, they determine whether a region is truly ready to compete. Both Robyn and Chris reinforced that corporate location strategy has entered a new era, one defined by risk, readiness, and reputation, echoing the core findings of DCI’s 2025 State of Site Selection report.
The current environment for economic developers is marked by significant uncertainty. From tariff related policy changes to energy infrastructure needs, from workforce and labor availability to supply chain risk and mitigation, communities are navigating a complex and evolving landscape. In this context, a regional approach and a unified voice matter more than ever. When business leaders, economic development organizations, utilities, and workforce systems are aligned and speaking together, regions are better positioned to drive sustainable economic prosperity.
Richmond’s trajectory reflects this reality. Throughout the event, it was clear that the region is working collaboratively across industries to build a strong foundation for opportunity while remaining thoughtful about the kind of growth it wants to sustain. Over the past decade, Richmond has increased its competitiveness and visibility for business investment, even as it continues to confront challenges shared by many regions across the world.
One of the most important takeaways from the event was that the biggest barrier for many communities and regions is not performance; it is perception. Lack of awareness or perception gaps can be particularly challenging for talent attraction, even when a community scores highly on affordability, safety, and other quality of life factors. Today, individuals, families, and companies are making decisions based on both how a place performs and how it is perceived, underscoring the need for intentional storytelling and strategic engagement.
Richmond’s experience reflects challenges faced by many regions across the country and around the globe. Communities that are deliberate about telling their story, fostering collaboration across stakeholders, and aligning talent attraction with economic development strategies are positioning themselves to compete more effectively. These efforts require persistence, coordination, and vision. When executed well, they create meaningful opportunities for growth, investment, and long-term prosperity, as we are seeing in Richmond.
As IEDC begins its centennial year, these conversations are exactly where we want to focus. The Centennial Event Series is not only a celebration of 100 years of leadership in economic development, but also a platform for learning, connection, and shared leadership as we work alongside communities to define what the next 100 years of the profession will require. By centering these discussions on collaboration, performance, and perception, we can ensure the field continues to evolve and thrive well into the next century.