Welcome to this week's issue of What Economic Developers Need to Know This Week, where we explore the evolving dynamics of our economy. Today's edition promises to be as refreshing as a splash in the pool.
This week we have 28 tools, stories, graphics, charts, and videos that I think you'll find informative, useful, inspiring, and perhaps even humorous. Some are economic development related directly, and some only indirectly. 🤔
If you're wondering what to do with the info in this newsletter, send something to your board members. It will make you look good!
As always, if you find something interesting, please send it to me.
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1) Economists now think a recession is less likely:
The 5 most popular consulting slides (and how to build them):
2) Some local news: Industrial construction in Houston has slowed way down. Uh oh.
3) I'm sure that some of you will find this book fascinating: Local Government Administration in Small Town America.
4) How to hold people's attention: It's not about what you say. It's about how you say it.
5) Two quotes planning that you know you'll want to use this week:
- Plans are worthless, planning is everything - Gen. Eisenhower
- Everyone has a plan until they get punched in the mouth - Mike Tyson
6) Multi-phase place-based economic policies can enhance the nation's development capacity: Large competitive federal funding opportunities -- including the $80 billion in "place-based industrial programs" – offer large-scale rewards but relatively low probabilities of success for individual coalitions vying for funding.
Understanding this dynamic, architects of place-based programs have created multi-stage competitions that involve both planning grants and implementation grants – arguing that the planning phase allows regions to build capabilities that make their strategies more attractive to other investors should they ultimately lose out on federal funding.
7) Is economic development in the South rooted in racism and # economic exploitation? The Economic Policy Institute thinks so.
8) In a time when the U.S. Census Bureau is reporting a concerning rise in suburban poverty, the role of economic development professionals has never been more critical by Josh Mejia.
9) How studying place can provide insight on American poverty: A new book reveals what can be learned from studying the most impoverished places in the U.S., which tend to be rural. Here's the book: The Injustice of Place: Uncovering the Legacy of Poverty in America.
10) Working from home varies dramatically by state:
11) Business Facilities is now accepting entries for the 2023 Economic Development Deal Of The Year. Economic development organizations can submit projects for consideration through Wednesday, November 15, 2023.