Location Decision-Making Trends

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Rich Overmoyer was invited as a featured speaker at Industry Week's Expansion Management event Rountable in the High Desert. Rich addressed the audience of economic development professionals from around the country on the latest trends that Fourth Economy is seeing in economic development. He met one on one with dozens of participants to share advise on ways they can positon their communities for future job growth.

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Location Decision-Making Trends

  1. 1. Location Decision-Making TrendsPresented by Rich Overmoyer, CEO October 2011
  2. 2. “Necessity, who is the mother of Invention.” :: Plato2
  3. 3. In my state, we’ve created a lot of JOBS Cost Based – Job Creation Production Driven – Cost Sensitive Low Skill – Limited Investment3
  4. 4. In my state, we’ve created a lot of WEALTH Place Based – Wealth Creation Knowledge Driven – Value Sensitive Skilled Workforce – Community4
  5. 5. Infrastructure Investments  Need to think beyond access roads  Cost of operations are impacted  Not all news if good news5
  6. 6. Community is Infrastructure  Where will the employees live?  Attracting talent takes a broad view  Transportation is a critical variable6
  7. 7. Water Poor  Clean water availability will drive growth  Cost of water is an increasing decision point  Climate change impacts7
  8. 8. Water Rich  Tap into Erie (PA)  Milwaukee Water Council  Global Investment Opportunity8
  9. 9. New Priorities9
  10. 10. Human Networks will Drive Future Growth IBED Economic Gardening Onshoring Sustainable Communities  Innovation-based economic development is understood  Grow your own will have big impact  Low wages = low quality10
  11. 11. Treating the Patient  Loss of patents  University  U.S. tax laws partnerships  Medical devices  R&D venture funds  Health care reform  Startups11
  12. 12. The Glass Half-Empty12
  13. 13. Energy: An Imbalanced Portfolio  Shale Gas and its upstream and downstream impacts  Renewables are now mature – they have bad press  Missing opportunities to advance a strategy13
  14. 14. Medicine is Showing Results – Clinical Trials Continue  Double down on business calling  Support launch of spin outs  Responsive transformation can create strength14
  15. 15. Upside of Downsizing  It takes a village…  Smart people fail all the time  Safety nets work for people pushed as well15
  16. 16. If you are Alive… …You are Doing Well  Class of 2011 is graduating in a challenging environment  Specialization is primary driver for growth  Integration is opportunity and challenge16
  17. 17. When I Grow Up, I Want to Take out a Second Mortgage  A silver lining to the recession: start up rate highest in 15 years  But! Entrepreneurs are goin’ at it alone  Capital from the Coasts17
  18. 18. The Aftermath of the Recession Continues to Teach Lessons Source: Bureau of Labor Statistics (via New York Times)18
  19. 19. Sustainable Investment Can Slow the Bleeding Source: Bureau of Labor Statistics (via New York Times)19
  20. 20. The New Reality in Economic Development Has Not Yet Set in Source: Bureau of Labor Statistics (via New York Times)20
  21. 21. U.S. is Still Innovation Hub  Colleges and Universities are able to drive economic growth  Global import of talent must be allowed to stay  More global expansion provides new markets21
  22. 22. Grow and Keep Your Own  Economic gardening  Coastal migration is slowing  Manage political excitement22
  23. 23. Control Your Brand23
  24. 24. What is the Fourth Economy?  Recognition of interconnection  Long-term horizon  Equality of investments24

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