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Economic Development Journal - Winter 2013

Manufacturing: Reshoring Tools to Retain Companies and Attract Foreign Direct Investment
by Harry Moser
Over the past few decades, companies rushed to offshore for cheap labor and low purchase price. But as the global economic climate evolves, labor savings have shrunk and the “hidden costs” of producing far from home have become both greater and more apparent, increasingly offsetting residual labor savings. With the adoption of Total Cost of Ownership (TCO) analysis, companies are increasingly deciding to source locally.
Tags: Manufacturing, Strategy Data and Analysis, Business Retention and Expansion

Deserted No Longer: Improving Fresh Food Access in Newark
by Lyneir Richardson and Christina Corea
Brick City Development Corporation (BCDC) is addressing Newark’s “food desert” and “food swamp” challenges by utilizing new strategies to promote access to healthy food options. BCDC received IEDC’s Gold Award in Public-Private Partnerships.
Tags: Economic Recovery, Quality of Life, Business Attraction and Marketing

Revitalizing Regional Economies by Accelerating Entrepreneurial Successes
by Ray Leach, Steve Berger, Samantha Fryberger, Annie Zaleski, and Kathryn Hanna
JumpStart, a nonprofit venture development organization, has helped formulate, implement, and execute strategies to accelerate entrepreneurial successes in Northeast Ohio. It is now applying this unique model in other areas of the country. JumpStart received IEDC’s Gold Award in Entrepreneurship.
Tags: Entrepreneuship and Small Business Development, Economic Recovery, Business Retention and Expansion

Economic Catalyst for Community Transformation: The Business Depot Ogden
by Tom Christopulos
Ogden City, Utah, undertook an innovative public-private partnership with the Boyer Development Company that has acted as a catalyst for the community’s renaissance. IEDC recognized the partnership’s success with its 2012 Gold Award for Excellence in Economic Development.
Tags: Economic Recovery, Real Estate and Revitalization

Small Business Innovation Initiative in Minnesota: The Importance of Providing Entrepreneurs with Access
by Pamela Sarvela, Ed.D., CEcD, and June Kallestad
The University of Minnesota Duluth Natural Resources Research Institute (NRRI) created the Small Business Innovation Initiative to help small businesses and entrepreneurs succeed. Winner of IEDC’s Gold Award in Entrepreneurship, the initiative allows NRRI to deploy expertise, research equipment, and laboratories around technological entrepreneurs’ projects to develop new or improved products or production efficiencies.
Tags: Entrepreneurship and Small Business Development, Business Retention and Expansion, Innovation and Technology

GEN Busting: Terminating Tension on the Team
by Pete Tokar
An alarming number of U.S. business owners, CEOs, managers, and workers are either conducting business in an information vacuum or are neglecting to make adequate preparations for a generational super storm that is bearing down on every U.S. business, large or small.
Tags: Economic Development Organizations, Workforce

» Entire Winter 2013 issue