Trends in Town-Gown Collaboration

Trending-Town-GownToday’s economy elevates the value of higher education institutions to the highest degree of public awareness ever demonstrated. Higher education institutions impact their community in a host of very obvious ways, such as:

  • Supporting the development of 21st century talent armed with skills to drive modern business;
  • Employing a range of professionals in a sector often recognized as the largest in many small communities;
  • and Initiating research and development initiatives supporting the advancement of technology and improved economic performance.

These examples speak to the common ways nearly every institution engages. Yet, what does it mean for a campus to be truly connected to its community? Continue reading “Trends in Town-Gown Collaboration”

It’s all About that Base: Baseline Data, Energy Planning, & Economic Development

P32-Energy-BaselineIt’s no secret that the best strategic plans are based on qualitative and quantitative analysis, using this information to determine the best allocation of resources to pursue growth and change.  Too often, strategic planning processes “jump right in” and do not take the time to fully understand and quantify current and expected conditions. Change cannot be measured without first analyzing existing conditions to establish a baseline dataset from which change can be measured. This approach also applies to regional energy planning. As regions consider energy in relation to economic development planning, there are direct correlations to the impact energy has on people, place, and ideas. Establishing a regional energy baseline must be the first step before tactical planning can occur.

Additionally, energy planning is an often-ignored element in developing regional economic development strategies. Energy is a universal business itself, however it also impacts every single industry and business within a region. Energy directly impacts the health of people across a region, and is a critical element to regional success. How can economic development planning occur without energy planning? Continue reading “It’s all About that Base: Baseline Data, Energy Planning, & Economic Development”

National Fourth Economy Community Index Lists Top 10 Mega-Sized Counties for 2015

141204-FECIndexFourth Economy Consulting announces the latest release of its national community index, listing top counties from across the nation. The Fourth Economy Index highlights those communities ideally positioned to attract modern investment and managed economic growth within the fourth economy.

PITTSBURGH, PA – The latest release of the Fourth Economy Community Index (FEC Index, #FECIndex) was announced today listing the nation’s top ten mega-sized Fourth Economy Communities. These communities are recognized as the regions ideally positioned to attract modern investment and managed economic growth among all regions with a population greater than 500,000 people.
Continue reading “National Fourth Economy Community Index Lists Top 10 Mega-Sized Counties for 2015”

Who’s on the Front Lines of your Economic Development?

130828-Front-LinesI’ve always been a huge believer that customer service is one of the most valuable pieces of brand development. Companies who have superior customer service are recognized as a stronger brand and tend to have better sales numbers than those without. Associations who put customer service first tend to have a greater number of members than those who do not. The fact of the matter is that sales are directly proportional to customer service. The same can be said for economic development.

So, how are you manning the front lines of your economic development efforts? 
Continue reading “Who’s on the Front Lines of your Economic Development?”

National Fourth Economy Community Index Lists Top 10 Large-Sized Counties for 2013

Fourth Economy Consulting announces the latest release of its national community index, listing top counties from across the nation. The Fourth Economy Index highlights those communities ideally positioned to attract modern investment and managed economic growth within the fourth economy.

PITTSBURGH, PA – The latest release of the “Fourth Economy Community (FEC) Index” was announced today listing the nation’s top 10 large-sized Fourth Economy Communities. These communities are those ideally positioned to attract modern investment and managed economic growth.

The “fourth economy” characterizes the most recent phase of our nation’s economy, reflecting a combination of the previous three to include agrarian, industrial, and technological. This new index is intended to serve as a dashboard for community stakeholders to gauge their capacity to attract and retain modern investment.

“There has never been a more important time for economic and community developers to rethink how we measure economic success,” said Rich Overmoyer, CEO of Fourth Economy Consulting, the economic development firm that created the index in 2011.  “Recent articles in the New York Times and The Atlantic on the use of state incentives to lure big companies reinforces that an outdated model of economic development needs to be evolved to one that considers a broader set of community investment opportunities. The Fourth Economy Index is an attempt to highlight what makes stronger, economically viable communities,” Overmoyer added. Continue reading “National Fourth Economy Community Index Lists Top 10 Large-Sized Counties for 2013”

Let the (Social Media) Madness Begin…

We’ve let you down. It’s not for a lack of desire.

As economic development professionals, we often talk about community engagement — whether that’s through public forums, surveys, client case studies, etc. However, there’s one community we always have on our minds — a community we hold near and dear to our hearts, that, at times, is neglected – our social community. You. And, again, as economic development professionals, we all know what happens when a community is neglected, and are working to change this. Beginning now. Continue reading “Let the (Social Media) Madness Begin…”