Monday, July 8, 2013

Changing State, Regional, and Local Roles in Economic Development

Janet Ady wrote about a topic that is playing out in Ohio and nationally in economic development.  Her piece, "As I See It:  The Changing Role of Regions and States in Economic Development" is worth a read.

Her central point:  Site selectors, the folks that represent about 40% of big deals in economic development, are gravitating to working first with regional organizations instead of the state.

The first five months of 2013 saw Ohio's state agency, JobsOhio, produce just two leads for regional and local organizations.  Though that pace has greatly improved since then, it was a real question-driver in economic development circles.

The answer one seasoned development professional gave was to point out the trend on which Ady is writing now.

The advice from Ady is worth heeding:

"If you are a local or municipal [economic development organization], work very hard to create a strong relationship with your region.  Treat them as a customer who brings you leads."

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