Monday, June 11, 2018

Embrace AI: Adapt to Change and One Will Survive



There's a must-read over at the Beaulieu brothers' ITR Economics website.  Economist Lauren Saidel-Baker writes in a piece titled "Artificial Intelligence and Automation:  Three Reasons Not to Fear the Robots."

I've written on the topic too--"Fear of Machination is Old Fashioned Thinking."

Saidel-Baker hits home the point that there will be change, but that adapting to change is nothing new.  She makes the case for "embracing" artificial intelligence in manufacturing.

The bottom line is right here:  "The number of new jobs created by artificial intelligence may actually exceed the number of jobs eliminated."

Read the whole piece at ITREconomics.com.

Thursday, May 24, 2018

Census: Newark Moves Up The List, Again


Steady population growth is a key to meet growing employer workforce demands.  That's why the recent news on Newark is good news indeed.

The U.S. Census Bureau published the cities data for 2017 estimates on population.  It's being widely reported around the nation today.  The Cleveland Plain Dealer published a database and a list.

A little analysis shows:  There's good news to be found for Ohio cities in this latest release.  There's good news for Newark especially.

Newark, Ohio can boast being Ohio's 16th largest city.  That's up from 20th in 2010 when the last full Census was taken.  Newark's growth rate since 2010 is at 3.9% and only Columbus surpasses that growth rate among cities Newark's size and larger.

Newark remains the second largest city in growing Central Ohio.


Last year, Newark was one of only three Ohio cities in the top 20 that saw an increase.  This year, the news is better for Ohio with 11 of the top 20 cities reporting a growth in population from the originally-reported 2016 census information. *

Here's the Top 20 for 2017:


Congratulations Newark Mayor Jeff Hall on this news.  Celebrate success, again.


* (Note: the Census updates its 2016 numbers so this comparison uses year-to-year data, not updates)

Wednesday, May 2, 2018

Wish This Was a 60-Second Video, But. . .


. . . the hour-plus long video is still a must-see.

Bill Fruth was brought to Licking County by our LEDO, Grow Licking County Community Improvement Corporation, as part of a educational series on economic development.

Since I doubt few will watch the whole video, here's my summation from just two slides.


Bill points out that "manufacturing accounts for 41% of imported wealth" to Licking County's economy.  Bill also points out the need to focus attention on growing your existing, primary industries. 

Take away: Focus on manufacturing.


Why do public entities often need to get involved in readying industrial land? Sites are the most important element of the site selection process. Bill shows why communities need to get involved with this chart where the sale value of land versus economic benefit to a community for land.

Take away:  Economic development is ultimately a real estate transaction.

Still go watch the video.  It's chock full of lessons.