37 Things Economic Developers Need to Know This Week
The stories Dane thinks you need to see. December 5, 2024 edition.
Welcome to this week's issue of What Economic Developers Need to Know This Week, where we explore the evolving dynamics of our economy.
This week we have 37 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!
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0) As you may, or perhaps not know – not only do I publish the Econ Dev Show newsletter and podcast for free every week, but over the past year, I've also been developing a groundbreaking tool for economic development organizations: Sitehunt.
I've been told it's the first truly practical application of AI in economic development.
Your peers agree. In its first year alone, Sitehunt is already being used by EDOs of all sizes across the country.
Here's what it can do:
- Automatically research and enhance your existing buildings and site database--or even create one from scratch.
- Continuously discover new, suitable buildings and sites within your communities to grow your economic development inventory.
- Generate compelling marketing content for your sites.
- Instantly analyze RFIs and match them to your inventory, ensuring you never miss an opportunity from a site selector.
As we approach the end of the year, now is the perfect time to think about 2025. Can I give you a demo? I promise you'll be amazed at what Sitehunt can do.
1) California can't use all its solar power. That's a huge problem.
There are a range of factors at play, but a key takeaway from the analysis is that California's most-in-the-nation solar panel buildup isn't enough for an ideal alternative energy model. Millions of dollars of electricity go to waste because the infrastructure isn't in place to store or move all the solar power.
2) US foreign-born vs. native-born workforce distribution across selected occupations:
3) The ISM Manufacturing PMI indicates that US manufacturing contraction eased in November:
4) The index of new orders unexpectedly returned to growth territory:
5) And staff reductions slowed:
6) October construction spending increased more than expected:
7) Construction spending on data centers has surged over the past couple of years:
8) The world's 30 largest exporters ranked:
9) Job openings in October exceeded expectations:
10) Trends in civilian employment by US federal agencies and military branches:
11) An imaginary town that refused to stay fake: Agloe, Colchester is a place which, simultaneously and without contradiction, does and doesn’t exist.
12) The rural Italian town of Ollolai is trying to use the American election to drive economic development.
They've launched a website to entice those "Worned(sic) out by global politics? Looking to embrace a more balanced lifestyle while securing new opportunities."
The opportunity isn't new. Like many other places in rural Italy, Ollolai has long been trying to persuade outsiders to move in to revive its fortunes after decades of depopulation. It's been selling dilapidated houses for as little as a little more than a dollar.
What is new is the marketing spin.
13) This week's EDO Breakthrough Podcast with Sandy Dubay, CEcD is live.. and for the first time in quite a while, I'm not the one asking the questions, I'm the one answering them. Yes, I'm the guest. Listen here.
14) What advances in AI going to do to our jobs and our wages? Two scenarios:
15) New QCEW data suggests manufacturing employment has been falling since the end of 2023.
16) A look at the decline of manufacturing jobs since 2000:
17) The post-pandemic manufacturing boom has not reached places most impacted by the "China Shock":
18) Growth in manufacturing employment has been faster for nonunion jobs and in Right-to-Work states:
19) Manufacturing employment is growing everywhere population is growing:
20) Gen Z thinks they need a ton of money to be "financially successful." Let's hope not:
