Economic Development and Developers in the News # 188

Welcome to the 188th weekly edition of Economic Development and Developers in the News. 

Today's issue contains news from 31 economic development executives and organizations in 15 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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Arizona

Arizona utilities, including Arizona Public Service, Salt River Project, and Tucson Electric Power, have awarded grants to four organizations to support economic development in communities transitioning from coal power. Recipients include Joseph City Foundation and Four Corners Economic Development, aiming to enhance local economies through workforce analysis and community improvements.

The city of Surprise has approved the relocation and rebranding of the AZ Techcelerator business incubator to Elm Street in City Center, transforming it into the Spark Surprise Business Development Hub. The initiative, led by Economic Development Director Jeanine Jerkovic, aims to bolster new business development with enhanced facilities and educational support, positioning the hub as a strategic catalyst for economic growth in the area.

California

The San Francisco Board of Supervisors has revised the Central SoMa Plan to pivot from office space to housing and retail development in response to pandemic-induced market shifts. Initially devised for expansive commercial growth, the updated plan reflects more viable current real estate demands to stimulate development in the area, aiming to overcome stalled projects and enhance neighborhood vitality. (Director of Development Anne Taupier, SF Office of Economic and Workforce Development)

Forty projects across California's Sierra region will benefit from $9 million in catalyst funding through the Sierra Jobs First initiative, targeting climate-resilient and equitable job growth. Projects include a USDA meat processing facility, biomass efforts, and a Sierra Sourced initiative by Tuolumne County Chamber of Commerce.

Colorado

Tom Clark, a pivotal figure in Colorado's economic development landscape, passed away this week at 75 due to frontotemporal dementia. As CEO of the Metro Denver Economic Development Corporation for over a decade, Clark championed regional collaboration, earning the title "Godfather of Regionalism."

Illinois

A vacant movie theatre in Round Lake Beach is set to become a family entertainment center by 2026, featuring attractions like seven movie screens and an electric go-kart track. The development aligns with the village's economic strategy to enhance its retail and entertainment corridor, according to Gil Rivera (economic development director).

Iowa

A bill in Iowa's legislature, House Study Bill 310, proposes a three-year halt on state economic development funding to its four most populous counties—Polk, Linn, Scott, and Johnson—aiming to redirect resources to rural areas. While proponents argue it addresses rural economic disparities, critics, including Professional Developers of Iowa and the Iowa Chamber Alliance, warn it could stifle growth where it's needed most.

Kentucky

The City of Fort Mitchell plans to dissolve its Economic Development Authority, initially established in 2014 for the Tax Increment Financing district associated with the Kentucky Gateway Project.

Louisiana

Greater New Orleans, Inc. celebrated regional economic achievements at its annual luncheon, highlighting efforts like managing over 550 Super Bowl infrastructure projects and fostering global business relations. (President and CEO Michael Hecht)

Franklin Parish has launched a new Industrial Development Board, Develop Franklin, to attract businesses and boost economic growth. Spearheaded by Samantha Sheppard (Economic Development Coordinator), this initiative aims to replicate the success of similar boards across Louisiana, as regional economic momentum increases.

Maine

Lewiston has launched the "This is Lewiston" marketing campaign to stimulate economic growth by promoting the city's assets, including $174.9 million in downtown improvements funded by private and public grants. (Nate Libby Director of Economic & Community Development)

Massachusetts

Rick Sullivan, the president and Chief Executive Officer of the Western Mass Economic Development Council, announced his retirement set for the end of the year. Sullivan's leadership has significantly impacted the region's economic strategies and growth initiatives, shaping the business landscape across Western Massachusetts.

Michigan

The Eight Mile Boulevard Association and Michigan Economic Development Corporation have launched a crowdfunding campaign through Patronicity to transform an unlit underpass at the Eight Mile and Greenfield Road intersection into a vibrant visual art gateway.

The City of Grand Rapids and the Michigan Economic Development Corporation have introduced the Permit-Ready Plans toolkit to streamline infill housing development across Michigan. This collaboration aims to reduce construction costs and expedite permit processing, addressing the housing shortage and enhancing economic vitality. (Economic Development Director Sarah Rainero)