Economic Development "Co-opetition with Patrick Pierce

Often the best way to advance in your economic development career is to change organizations. But do you secretly worry that if you pack up and move across the country that you'll get there and be completely clueless?

Today's guest did just that - Patrick Pierce moved from a large organization in Washington state to a small town in North Carolina, and he says that the "co-opetition" is the same everywhere.

Co-opetition is the collaboration between competitors, in hopes of mutually beneficial results. Sounds exactly like regional economic development to me.

Give it a listen.

Actionable Takeaways

1. Versatility in Economic Development: Emphasizing that one can engage in economic development in diverse community settings, suggesting adaptability as a key skill in balancing cooperative and competitive strategies.
2. Transferability of Skills: Highlighting the ability to move between different communities and apply economic development skills effectively, an approach that can be beneficial in co-opetition scenarios.
3. Leveraging Proximity and Accessibility: Discussing the advantage of being close to city centers while maintaining accessibility, indicating the strategic use of location in economic development and cooperative competition.
4. Balancing Urban and Rural Development: Pointing out the possibility of working in both urban and rural settings, suggesting a strategic approach to address diverse economic needs in a co-opetitive environment.
5. Sharing Common Experiences: The importance of sharing and learning from common experiences in different economic environments, which is crucial for developing effective co-opetition strategies.
6. Learning from Diverse Communities: The takeaway here could involve observing and adapting strategies from various communities to enhance one’s approach to economic development in a co-opetitive context.
7. Building Strong Local Networks: The conversation implies the value of building robust local networks, which can facilitate both cooperation and competition within economic development.
8. Flexibility in Economic Roles: Adapting to different roles in economic development across various settings is essential, which aligns with the dynamic nature of co-opetition.
9. Understanding Regional Differences: Recognizing and adapting to the differences in economic development strategies between regions, which is vital in a co-opetitive landscape.
10. Incorporating Diverse Economic Strategies: The ability to blend different economic strategies, taking into account the unique characteristics of each community or region, is key in co-opetition.

Episode Links

• Welcome to Clayton, North Carolina
• Patrick Pierce, CEcD - Economic Development Director - Town of Clayton | LinkedIn
• CEO of Economic Alliance steps down, interim CEO appointed | HeraldNet.com
• Clayton Welcomes New Economic Development Director
• Coopetition - Wikipedia
• The Rules of Co-opetition
• Coopetition: What Is It and How Can It Help Your Business Grow? – Channel Futures
• Co-Opetition: by Adam Brandenburger and Barry Nalebuff

We originally recorded this episode in 2021.