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The development of local food systems presents another economic development opportunity for many regions. In Indiana, the state Department of Agriculture and Purdue Unviersity are focusing new energy on this opportunity. Read more.
Purdue has some additional information on local food systems, also called community supported agriculture. here.
Here's a good overview of local food systems, prepared by Cornell Unviersity Extension. Read more.
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The Wisconsin Technology Council has released a statewide report on early stage financing. The report provides a clear overview of how Wisconsin is measuring early stage investments.
Wisconsin has been a leader in developing new network-based alignments to accelerate innovation. You can read more about the report here. You can download a copy of the report here.
Report on eminent domain reform by Ed Morrison.
Categorized as Quality connected places. Tagged with eminent domain and policy.The Castle Coalition, a nationwide property rights advocacy project of the nonprofit civil liberties group Institute for Justice, has released a report grading the states on eminent domain reform.
The Coalition notes that in the two years since the Supreme Court's Kelo v. City of New London ruling two years ago., 41 states have passed new laws aimed at restricting eminent domain for private use. You can download the report from this page.
With the passage of a new package of legislative initiatives, Hawaii is building its networks to support innovation. The latest component: an innovation council. Read more.
Here are articles on the economy from last week. I threw in a few more international articles, because I thought they were particularly helpful.
Despite high hopes for economic development, cities struggle with wireless Internet
Higher education vital for climbing value chain
Manufacturing still matters
Innovation not a question of old or new economies
Productivity slowdown at heart of weak dollar
A Merry May for Jobs
Here are some articles on incentives I came across last week.
In Kansas City, an active debate is underway on the use of incentives. School officials are concerned about the aggressive use of incentives. Read more. A task force has been formed to look at local policies. Read more.
Industrial incentives encourage sprawl in Buffalo, according to a new report. Read more.
Cuyahoga County, OH (Cleveland) is providing funds to develop business plans for two innovation zones. (Disclosure: I wrote the policies for these zones.) Read more. E-mail me if you would like to learn more.
Tennessee's governor is proposing major new incentives for companies that relocate their headquarters or invest in major factory upgrades. Read more.
Mike Olivier, head of Louisiana's economic development office, gives his views on why Louisiana lost to Alabama in the competition to site a $3.7 billion, 2,700-worker steel mill. Read more.
Expanding Georgia's WorkReady initiative by Ed Morrison.
Categorized as Brainpower. Tagged with skill shortages.The governor of Georgia has expanded his state's WorkReady program. Established last August, the initiative focuses on skill assessments.
The initiative is expanding from "WorkReady Communities" to WorkReady Regions". Read more. Learn more about Work Ready from the web site.
Economic development involves managing three flows of money. "Good money" comes into your economy through businesses that trade outside your region. These traded businesses generate higher incomes, and they typically account for about one-third of employment.
"Bad money" leaks out of your economy in a few ways. People shop outside your region. Smart people leave (the brain drain). And young people drop out of school (a more serious form of brain drain).
"Neutral money" represents money that circulates in your economy as we buy and sell things to each other. Increasing the velocity of neutral money increases what economists call "the multiplier".
So, launching buy local campaigns makes sense to increase the velocity of neutral money and reduce the flow of bad money.
Here's an example from Fremont, CA of some YouTube videos that are running on local television. Read more. Watch a video.
Addressing educational acheivement in Mississippi by Ed Morrison.
Categorized as Brainpower. Tagged with skill shortages.The CREATE Foundation in Northern Mississippi is another region that is starting to take on the issue of worker and skill shortages. Last week, they heard from Jim Clinton, head of the Southern Growth Policies Board. Read more.
Equally impressive, we are seeing an increasing number of education leaders recognizing that the challenge belongs to civic leaders across the community.
As Mississippi's superintendent noted in the article, “We can no longer function in silos, we must join hands. We can only solve these issues by working together. Schools alone cannot improve student achievement.”
Washington State's life science push by Ed Morrison.
Categorized as Innovation. Tagged with life sciences and universities.Washington State is trying to pump up its life sciences initiatives with a new Life Sciences Development Fund Authority. Here's the back story about what is going on in the life sciences in the land of Boeing and Microsoft. Read more.
A couple of years ago, Brookings produced a report arguing, as I recall, that second and third tier regions were going to lose out in the push to the life sciences. I'm not so sure that's the case...Certainly, investments in life sciences are both heavy and risky. The opportunity costs of these investments -- where else could a region focus its investments -- presents a good argument in many cases to place some limit on our commitment to the life sciences.
But consider the markets. My guess is that the market demand for health is as close as we come to a market with limitless demand.
After buying two cars or two televisions or one I-Pod, I'm done. But my demand for products to keep my family and me healthy is not subject to the same limits.
Rhode Island's skilled worker shortage by Ed Morrison.
Categorized as Brainpower. Tagged with skill shortages.Rhode Island is another state facing serious workforce challenges. A new report concludes: “Large numbers of Rhode Island adult job seekers and incumbent workers lack the skills to fill vacancies in high-demand occupations. Rhode Island’s economy and work force are moving in opposite directions.” Read more.
Milwaukee 7 releases its strategy by Ed Morrison.
Categorized as Quality connected places and Innovation. Tagged with regeneration.The seven country region around Milwaukee formed a regional group, Milwaukee 7. Last week, Milwaukee 7 released its economic development strategy. Read more.
The strategy rings true. It recognizes the current strengths of the region and proposes to build on them. The editorial board of the local paper came away impressed.
You can download the reports forming the foundation of the strategy from this page.
