• Econ Dev Show Podcast - Economic Development

  • By: Dane Carlson
  • Podcast

Econ Dev Show Podcast - Economic Development

By: Dane Carlson
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  • Summary

  • We explore the strategies, ideas, and insights that are driving economic development forward into the future. You'll hear new insights from passionate ED's about their successes and struggles, and you'll learn from attraction and retention experts about how to apply actionable strategies inside your EDO. We'll help take your organization, your community, and your career to the next level.
    © 2024 Dane Carlson
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Episodes
  • 142: Economic Strategies in Maine with Anne Krieg

    142: Economic Strategies in Maine with Anne Krieg
    Sep 30 2024
    In this engaging episode of the Econ Dev Show, host Dane is joined by Anne Krieg, the Director of Community and Economic Development for Bangor, Maine. Anne provides an insightful overview of Bangor's economic landscape, emphasizing that while tourism is a major economic driver in Maine, Bangor relies more heavily on its medical centers and educational institutions, such as the Northern Light Medical Center and the University of Maine. She discusses the effective use of federal funds to revitalize underserved neighborhoods and the significant challenges that rural communities face due to limited staffing. Through her experience and perspective, Anne highlights the importance of community-focused planning and the need for systemic changes in regional development strategies to foster lasting economic growth. 10 Actionable Insights Livability: Focus on making your community a desirable place to live with walkable neighborhoods, good parks, and quality education. This attracts both residents and businesses who want a high quality of life. Community Engagement: Adopt a conversational, bottom-up approach to development. Involve the community in discussions to ensure that plans meet local needs and gain their support. Long-term Planning: Develop and think in terms of 5, 10, 15, and 20-year plans. Strategic foresight ensures sustainable development and adaptability to future needs. Promote Your City: Actively market your city to the outside world. Attend trade shows and tell your city's story to attract new investments and visitors. Utilize Unique Assets: Leverage unique local assets like municipal airports and foreign trade zones. Highlight and make full use of distinctive infrastructure to drive economic opportunities. Collaborate Regionally: Foster informal regional collaborations. Work with neighboring communities to address broader economic challenges and opportunities. Support Rural Areas: Provide assistance to smaller rural communities that lack staff and resources. Offer guidance and resources to help them navigate development challenges. Implementing Strategies: Focus on executing developed economic strategies. Turn plans into action by ensuring your team is dedicated to following through on strategies. Holistic Approach: Employ planners who can see the bigger picture and integrate various aspects of city planning into economic development. A holistic view can create more cohesive and well-rounded development initiatives. Sustainable Partnerships: Establish ongoing partnerships with local institutions and organizations. Collaboration with local entities ensures continuous support and resources for development projects. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Special Guest: Anne Krieg.
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    24 mins
  • 0: Not the First Episode

    0: Not the First Episode
    May 3 2021
    A teaser and demo of sorts. Definitely not episode #1.
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    1 min
  • 141: Navigating EDA Grants for Economic Development with Beka Shiver

    141: Navigating EDA Grants for Economic Development with Beka Shiver
    Sep 23 2024
    In this episode Dane Carlson and Beka Shiver (Economic Development and Transportation Planner for the Southwest Georgia Regional Commission) delve into the grant application process for federal programs like the Economic Development Administration. They explore a range of projects, from critical infrastructure improvements to innovative business incubators. Shiver highlights the importance of patience and effective communication throughout the grant process. She notes that while federal funding may not be ideal for urgent needs, it plays a crucial role in supporting long-term community development, particularly in historically underserved rural areas. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Actionable Economic Development Insights Capitalize on every opportunity: Be proactive in networking by answering all phone calls, attending relevant meetings, and consistently distributing business cards. This approach can lead to unexpected partnerships and opportunities. Seek out multiple funding partners: Don't rely on a single source of funding. Combine resources from various entities such as county, city, and economic development commissions to create stronger, more competitive grant applications. Aim for higher matching contributions: While federal EDA grants typically require a 20% match, providing a higher match (e.g., 35%) can make your application stand out and increase chances of approval. Focus on regionalism and partnerships: Collaborate with multiple partners on singular projects. This approach not only strengthens applications but also fosters a spirit of regional cooperation. Be patient with the grant process: Understand that federal funding is designed for long-term community development, not immediate needs. Plan accordingly and manage expectations. Maintain consistent communication: Keep regular contact with funding agencies throughout the grant application and review process. This helps build relationships and keeps your project on their radar. Look for innovative solutions: Draw inspiration from historical necessity-driven innovations to solve current challenges in rural communities. Think creatively about how to address modern problems. Leverage STEM education initiatives: Use these programs as a foundation to build an ecosystem of innovators in the region. This can help create a skilled workforce and attract high-tech industries. Be a good steward of resources: Continuously look for ways to maximize the impact of available funds and talents. This includes finding creative ways to stretch budgets and leverage existing assets. Create an ecosystem for innovation: Focus on developing an environment that encourages people to try new ideas and approaches, even if they might fail. This can foster a culture of entrepreneurship and innovation. Diversify economic base: Work towards having a variety of industries in the region, from agricultural to manufacturing. This creates a more resilient local economy that can weather sector-specific downturns. Leverage local strengths: Identify and utilize existing resources and industries (like major corporations or military bases) as anchors for further economic development. These can serve as the foundation for supply chains or complementary businesses. Plan for sustainability: Think beyond the initial grant cycle. Develop strategies to maintain momentum and progress after the initial funding ends, ensuring long-term impact. Focus on infrastructure improvements: Prioritize essential upgrades like wastewater systems, transportation networks, and broadband internet. These are often critical for attracting and retaining businesses. Be aware of funding limitations: Understand the competitive nature of grant funding and plan accordingly. Have backup plans and alternative funding sources in case primary grant applications are unsuccessful. Build long-term relationships: Instead of applying for grants year after year, focus on developing ongoing partnerships with funding agencies. This can lead to more consistent support and better alignment with agency goals. Consider industrial park development: Where appropriate, explore opportunities to create or expand industrial parks. These can serve as hubs for business attraction and expansion efforts. Embrace a long-term perspective: Recognize that significant economic development often takes years or even decades to fully manifest. Set realistic timelines and celebrate incremental progress along the way. Special Guest: Beka Shiver.
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    35 mins
Management Marketing Economics Political Science
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