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
  • 140: Transforming Southern Illinois' Economic Development with Deb Barnett

    140: Transforming Southern Illinois' Economic Development with Deb Barnett
    Sep 16 2024
    In this episode, Dane talks with Deb Barnett, the executive director of SI Now. SI Now is a relatively new regional economic development organization founded in the fall of 2022, serving 17 counties in Southern Illinois. She explains that the organization was created to address the need for a more strategic and collaborative approach to economic development in the region, moving away from the previous model where communities and counties worked in isolation. During the conversation, Barnett highlights SI Now's focus on long-term economic growth and shares insights about their current projects and future plans. She also discusses her involvement in a podcast called "Small Town Big Business," which features interviews with small business owners in Southern Illinois. Barnett emphasizes the importance of storytelling in economic development and expresses optimism about the increasing number of opportunities and projects in the pipeline for the region. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Special Guest: Deb Barnett.
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    30 mins
  • 139: From Tourism to Business Attraction: Podcasting in Economic Development with Adam Stoker

    139: From Tourism to Business Attraction: Podcasting in Economic Development with Adam Stoker
    Sep 9 2024
    In this episode of the Econ Dev Show, host Carlson sits down with Adam Stoker, president and CEO of Relic, to discuss the intersection of economic development and destination marketing. Adam, whose company specializes in creating podcasts for Destination Marketing Organizations (DMOs), shares insights on how the strategies used in tourism promotion can be effectively applied to economic development efforts. The conversation explores the similarities between attracting tourists and attracting businesses, with both aiming to bring outside money into specific geographic areas. The discussion then delves into the power of podcasting as a marketing tool for economic developers. Adam emphasizes how creating valuable, educational content through podcasts can help build relationships with potential investors and businesses without resorting to direct sales pitches. He shares success stories from his experience, highlighting how inviting guests to share their stories on a podcast often yields better results than traditional outreach methods. The episode also addresses common objections to starting a podcast, such as fear of poor performance and lack of time, with Adam encouraging economic developers to overcome these barriers and prioritize audience building for long-term success in their community promotion efforts. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Special Guest: Adam Stoker.
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    35 mins
  • 138: Blending Non-Profit Values with For-Profit Agility: Bo Kemp’s Approach to Economic Development

    138: Blending Non-Profit Values with For-Profit Agility: Bo Kemp’s Approach to Economic Development
    Sep 6 2024
    In this episode, Bo Kemp, CEO of the Southland Development Authority discusses his unique approach to economic development through a not-for-profit organization that operates with the agility and risk-taking mindset of a for-profit business. Kemp emphasizes the importance of failing fast and pivoting quickly to optimize programs and services. He explains how his organization is structured to evaluate and stop initiatives that aren’t delivering the expected impact, which contrasts with traditional non-profits that often have difficulty abandoning projects due to the lengthy fundraising and validation process. His goal is to take on the risks that for-profit businesses avoid, using innovative techniques like measuring social impact and partnering with businesses to drive wealth-building at the municipal level. Kemp also shares how his team is working to monetize their services by offering their proven models to other municipalities. For example, their business growth services could be replicated in cities like Tucson, Arizona, allowing other communities to benefit from their expertise and infrastructure without having to start from scratch. Kemp’s team uses tools like Salesforce and data science to manage relationships and measure success, which they are willing to share with other cities to support broader economic growth. The conversation highlights Kemp’s vision of blending for-profit efficiency with non-profit values to foster sustainable, community-centered development. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Special Guest: Bo Kemp.
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    32 mins
  • 137: Unlocking the American Dream: The Critical Role of Economic Development With Don Iannone

    137: Unlocking the American Dream: The Critical Role of Economic Development With Don Iannone
    Aug 12 2024
    In this episode host Dane Carlson interviews Don Iannone (https://www.linkedin.com/in/doniannone/), the author of "America's Dream, at the Crossroads (http://www.amazon.com/exec/obidos/ASIN/B0D8M6LQKF/econdevshow-20)," a book that delves into the challenges and opportunities facing the American Dream, particularly in the context of the upcoming 2024 presidential election. The discussion centers on the critical role that economic development plays in enabling Americans to achieve the American Dream, emphasizing the often-overlooked connection between economic policies and individual prosperity. Iannone explains how economic developers are at the forefront of shaping the future of the nation, making this conversation particularly relevant for those engaged in economic development and public policy. Through this dialogue, Carlson and Iannone highlight the importance of understanding economic development not just as a technical field, but as a fundamental driver of societal well-being and a key factor in the nation's political landscape. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Actionable Takeaways Connect Economic Development to the American Dream: Ensure that your community’s economic development initiatives are directly tied to helping individuals achieve their version of the American Dream, emphasizing job creation, homeownership, and economic mobility. Engage in Policy Advocacy: Advocate for policies at the local, state, and national levels that support sustainable economic growth and align with the broader goals of improving quality of life and expanding economic opportunities for all. Foster Inclusive Growth: Focus on creating opportunities that benefit all segments of the population, particularly marginalized communities, to ensure that the economic benefits of development are widely shared. Promote Workforce Development: Invest in education and training programs that equip workers with the skills needed for the jobs of the future, ensuring that your community remains competitive in a rapidly changing economy. Leverage Public-Private Partnerships: Collaborate with businesses, educational institutions, and government entities to create innovative solutions that drive economic growth and community development. Focus on Quality of Life: Develop strategies that not only attract businesses but also enhance the overall quality of life in your community, making it a desirable place to live, work, and invest. Communicate the Economic Development Story: Clearly articulate the role of economic development in achieving the American Dream to stakeholders, including elected officials, business leaders, and the general public. Prepare for Economic Disruptions: Build resilience into your economic development strategies by planning for potential disruptions, such as technological changes, global market shifts, or political instability. Measure and Communicate Impact: Regularly assess the impact of your economic development efforts and communicate these results to stakeholders to demonstrate the value of your work and secure continued support. Stay Informed on National Trends: Keep abreast of national economic and political trends that could impact your community, and be prepared to adjust your strategies accordingly to remain aligned with broader national goals. Other Sponsors 🫶 The Econ Dev Show is made possible by our Econ Dev Pro members (join now (https://econdevshow.com/#/portal/account/plans)) and sponsors: EDOiQ (https://edo-iq.com/), ResearchFDI (https://researchfdi.com/), Jorgenson Pace (https://jorgensonpace.com), and SiteHunt (https://sitehunt.io/). (Become a sponsor (https://econdevshow.com/annual-sponsorship/).) Special Guest: Donald Iannone.
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    36 mins
  • 136: A Conversation with Alia Abbas About Sustainable Economic Development

    136: A Conversation with Alia Abbas About Sustainable Economic Development
    Aug 5 2024
    In this episode of the Econ Dev Show, host Dane Carlson interviews Alia Abbas, an economic development consultant in Canada, about the critical importance of sustainable economic development. They discuss how integrating sustainability into daily economic development tasks can build community resilience against climate change and disasters. Alia emphasizes the need for transparent risk communication with businesses, the importance of engaging with diverse stakeholders, and the growing influence of purpose-driven development among younger generations. The episode also explores incentivizing green initiatives, learning from resilient communities, and advocating for policy changes to support long-term sustainable growth. Aliyah's insights provide a fresh perspective on creating resilient, adaptable, and sustainable communities. Actionable Takeaways Incorporate Sustainable Development: Economic developers should integrate sustainable development into their daily tasks, making communities more resilient to disasters and climate change. Transparent Risk Communication: Economic developers need to openly discuss risks like floods or power outages with businesses to build trust and help them prepare for potential challenges. Engage with Businesses on Environmental Impact: Regularly consult with local businesses to understand the environmental impacts they face and how economic development can support mitigation efforts. Incentivize Green Initiatives: Highlight and offer incentives for businesses to adopt greener practices, such as tax breaks or credits, to attract and retain companies focused on sustainability. Learn from Resilient Communities: Study and collaborate with communities that have successfully managed disasters to improve local emergency management strategies and resilience. Promote Cross-Sector Collaboration: Work with diverse stakeholders, including disaster emergency management professionals, supply chain groups, and higher education institutions, to address sustainable development comprehensively. Focus on Purpose-Driven Development: Emphasize purpose-driven projects and job opportunities to attract younger generations who prioritize making a positive impact on their communities. Advocate for Policy Changes: Push for policy changes that support sustainable and resilient economic development, ensuring long-term community stability and growth. Develop Workforce Programs: Create workforce development programs that focus on green skills and sustainability to prepare the local workforce for future demands. Stay Informed and Educate: Continuously educate yourself on new sustainability initiatives and trends by engaging with businesses and participating in relevant events and organizations, like the Great Lakes Economic Development Council. Like this show? Please leave us a review here (https://econdevshow.com/rate-this-podcast/) — even one sentence helps! Other Sponsors 🫶 The Econ Dev Show is made possible by our Econ Dev Pro members (join now (https://econdevshow.com/#/portal/account/plans)) and sponsors: EDOiQ (https://edo-iq.com/), ResearchFDI (https://researchfdi.com/), The PACE Group (https://thepacegroup.com/), and SiteHunt (https://sitehunt.io/). (Become a sponsor (https://econdevshow.com/annual-sponsorship/).) Special Guest: Alia Abbas.
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    28 mins