Economic Development and Developers in the News # 172

Welcome to the 172nd weekly edition of Economic Development and Developers in the News.

Today's issue contains news from 50 economic development executives and organizations in 32 states.

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The Econ Dev Show is a podcast and email newsletter actionable strategies, fresh news, insights, and ideas from the economic development community and your host, Dane Carlson.

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Financial Times: FT Specialist Launches FT Locations for Portfolio of Economic Development Data & Tools

FT Specialist, a division within the FT Group, has launched FT Locations, a full-service portfolio for location intelligence solutions. The new brand brings together 16 premium products and services, including fDi Markets, ZoomProspector, Amplify, and others.

FT Locations helps governments and organizations make informed investment decisions by providing cutting-edge data, mapping tools, and strategic insights for the foreign and domestic direct investment industry. Currently, FT Locations serves 1,800 clients across 500 organizations in more than 90 countries globally.

The rebrand follows a number of strategic acquisitions in recent years, including GIS Planning in 2017 and the product and consulting assets of Wavteq in 2023, both of which now sit in the new portfolio of tools and services.

Learn More

Alabama

The Mobile Airport Authority, with a $2 million SEEDS grant from Alabama’s Site Evaluation and Economic Development Strategy program, is set to expand Brookley Aeroplex. This expansion aims to boost economic growth in the region.

California

A report by the Bay Area Economic Institute highlights how an aging population is hindering job growth in Sonoma, Solano, Marin, and Napa counties, leading to a slower post-pandemic recovery compared to the rest of the Bay Area. Presented at the State of the North Bay event and sponsored by the North Bay Leadership Council, the report notes challenges like negative migration, industry job losses, and declining population growth despite falling unemployment rates.

Colorado

The Rural Jump-Start Program, designed to stimulate economic development in rural Colorado, has expanded significantly since starting in Mesa County in 2016, now benefiting 32 of 64 counties. Key partners like the Grand Junction Economic Partnership, Colorado Mesa University, and the Colorado Office of Economic Development have helped establish 64 companies, creating jobs that boost local economies without competing with existing businesses.

Connecticut

After a decade-long, $3 million cleanup funded by both state and city contributions through the Department of Economic and Community Development, a 15-acre site is now for sale in a Connecticut city. This initiative reflects significant investment in regional development and showcases collaboration between state and local economic developers.

Florida

Boynton Beach Economic Development Division, in collaboration with South Florida PBS, is hosting the immersive "Da Vinci: Genius" exhibit from November 2024 through April 2025. This event, expected to boost local tourism and support businesses, is the only exhibit of its kind in the U.S., aiming to attract art and history enthusiasts to benefit the city's hospitality and retail sectors.

Florida International University recently hosted a strategy session with universities, federal officials, and investment leaders to advance climate technology deployment. Organized through the South Florida ClimateReady Tech Hub and part of the EDA-funded Regional Technology and Innovation Hubs program, the event aimed to foster collaborations enhancing sustainable innovations and regional economic resilience.

Georgia

Tim J. Evans has been appointed as the new President and CEO of the Greater Hall Chamber of Commerce, succeeding Kathryn L. "Kit" Dunlap. Evans, who has contributed significantly to the economic growth of Gainesville-Hall County since 2005, will collaborate with local development authorities to continue fostering business expansion and community development.

Illinois

The Bloomington City Council is considering a plan to split the Economic and Community Development department into two separate entities to focus more on economic growth and support for developers. Melissa Hon economic and community development director; Kelly Pfeifer, an assistant economic and community development director.

Indiana

Indiana University has received a $4 million grant from Indiana's Regional Economic Acceleration and Development Initiative 2.0 to enhance its microelectronics research, focusing on developing resilient microchips. Supported by the Indiana Uplands READI steering committee and the Indiana Economic Development Corporation, this funding will bolster IU CREATE's efforts in advancing radiation-hardened microelectronics technology.

Iowa

The Iowa Economic Development Authority has awarded over $900,000 in Main Street Iowa Challenge grants to 10 communities for restoration projects, including $85,000 to Dubuque and $100,000 each to Washington City and Keokuk. Administered through IEDA’s Iowa Downtown Resource Center, these grants have leveraged over $70 million in investments since 2002.

Kansas

Thrive Allen County is inviting building or business owners to learn about the Historic Economic Asset Lifeline (HEAL) grant during an informational meeting on November 12. Additionally, Zoning Director Terry Call informed Allen County commissioners about ongoing discussions with Mission Clean Energy regarding a proposal for a $300 million battery energy storage system, prompting zoning and safety concerns.

Great Bend Economic Development Director Sara Arnberger reported on the successful "Fridays on Forest" event and unveiled plans for holiday promotions and entrepreneurship programs. The organization is also organizing a Christmas Window Decorating Contest and expanding their downtown tours app, while encouraging applications for HEAL grants to revitalize downtown spaces.

Great Bend Economic Development, in partnership with NetWork Kansas, is launching the 2025 Entrepreneurial Mindset classes starting January 8. The program aims to foster entrepreneurial skills among Barton County residents through dynamic discussions and real-life stories, with a registration fee of $100 that includes dinner and potential partial refunds.

Kentucky

The Kenton County Planning Commission has approved a zoning change allowing tattoo and body art businesses in Erlanger’s mixed-use zone, pending Erlanger City Council's final approval. Erlanger’s Economic Development Director Mark Collier noted interest from a Cincinnati-based tattoo artist, potentially boosting economic growth in the area.

The University of Kentucky will host a discussion titled “Strengthening Appalachia: Strategies Overcoming Fragility and Fostering Growth,” featuring Seth D. Kaplan, Ph.D., who will present strategies for revitalizing neighborhoods by enhancing social ties and local institutions. The event, organized by several university departments, will include a panel discussion on November 21 at Gatton College.

Several projects are planned for downtown Louisville, promising over a billion dollars in investment. Major initiatives include the 27-story One Forty West tower by Zyyo and expansions by local distilleries, with Rebecca Fleischaker from Louisville Downtown Partnership highlighting the strategic location of these developments.

Maryland

The Calvert County Department of Economic Development organized the annual Calvert Farm Tour, allowing officials to explore the county’s agricultural landscape and discuss its economic significance. The event included visits to local farms and businesses, emphasizing agriculture's role in preserving rural heritage and supporting the local economy.

The Howard County Economic Development Authority facilitates local business growth by offering loan programs like small business loans and microloans. These initiatives aim to provide affordable capital, stimulate job creation, and drive economic growth, especially in enterprise zones and revitalization areas.

Massachusetts

Massachusetts lawmakers have reached a tentative agreement on the Mass Leads Act, an economic development bond bill introduced by Governor Maura Healey, authorizing $2.8 billion in borrowing and $750 million in tax incentives for sectors like life sciences and AI. The bill also aims to support public universities, offshore wind, cultural investments, and small businesses, awaiting further legislative action before progressing to the governor's desk.

House and Senate negotiators in Boston have agreed on a multi-billion-dollar economic development bill delayed since the end of formal sessions. The proposal is set for a vote in both chambers before being presented to Governor Maura Healey, signaling progress in the legislative process.

Mayor Shaunna O’Connell announced over $12 million in grants for Taunton's economic development, aiming to boost growth and revitalization in the local community. The funds will support projects enhancing the city’s infrastructure and creating new opportunities for businesses and residents.

Michigan

The Village of Lexington has been awarded the Redevelopment Ready Communities certification by the Michigan Economic Development Corporation. This recognition acknowledges the village's efforts to attract private investment and enhance economic development by streamlining planning and zoning processes.

In Hillsdale City Council, a proposal for a Brownfield Redevelopment Authority tax increment finance capture was approved to support Allen Edwin Homes’ plan to build 61 new homes, despite opposition from some council members. The city’s Economic Development Corporation orchestrated this initiative to address housing needs, facilitating a $15 million investment in middle-class housing.

The Washtenaw County Office of Community and Economic Development, with local organizations, has secured nearly $4.3 million from the U.S. Department of Housing and Urban Development to tackle youth homelessness. This funding supports efforts by the Continuum of Care and others to create a comprehensive plan to address and prevent youth homelessness in the county.

Minnesota

The Minnesota Department of Employment and Economic Development has announced its final grant round of $4.68 million for the Main Street Economic Revitalization Program. Aimed at bolstering community development, the program has supported over 600 projects with $696 million in matching funds to rejuvenate Minnesota's commercial corridors.

The 11th annual R.A.V.E. event, organized by Rochester Area Economic Development, celebrated local businesses like RION, Dandelion Naturals, and Lopez and Son Construction.

Mississippi

Rosedale Distilling Company is investing $17 million to establish a whiskey and gin distillery in Rosedale, Mississippi, creating 57 jobs and attracting over 40,000 visitors annually. Supported by the Mississippi Development Authority, this project is the region's largest economic development since the town's port was built, aiming to preserve historic architecture and boost tourism.