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How REAL Economic Development Happens

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Meeting Dates:
Boone County Commissioners
-December 18 @ 9 a.m.
Boone County Council
-December 11 @ 8:30 a.m.
Boone County APC
-January 2 @ 7 p.m.
Boone County RDC
-December 21 @ 2 p.m.
Advance Town Council
-December 11 @ 7 p.m.
Jamestown Town Council
-January 7 @ 7 p.m.
Lebanon City Council
-December 10 @ 7 p.m.
Thorntown Town Council
-December 17 19 @ 7 p.m.
Whitestown Town
Council
-December 11 @ 6:30 p.m.
Zionsville Town Council
-January 7 @ 7 p.m.
Boone EDC Board of Directors
-December 20 @ 4 p.m.
Boone EDC Executive Committee
-December 13 @ 7:30 a.m.
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Boone EDC Weekly
Greetings!
As an organization, the Boone EDC is constantly researching and benchmarking to learn what our competing communities are doing to attract and retain business. Boone EDC Weekly is a compilation of noteworthy National and Indiana news about economic development trends. We will also post information about upcoming conferences, events and webinars that you may find interesting. |
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As Companies Seek Tax Deals, Governments Pay High Price
The New York Times - Louise Story
A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.
The cost of the awards is certainly far higher. A full accounting, The Times discovered, is not possible because the incentives are granted by thousands of government agencies and officials, and many do not know the value of all their awards. Nor do they know if the money was worth it because they rarely track how many jobs are created. Even where officials do track incentives, they acknowledge that it is impossible to know whether the jobs would have been created without the aid.
The Times analyzed more than 150,000 awards and created a searchable database of incentive spending. The survey was supplemented by interviews with more than 100 officials in government and business organizations as well as corporate executives and consultants. A portrait arises of mayors and governors who are desperate to create jobs, outmatched by multinational corporations and short on tools to fact-check what companies tell them. Many of the officials said they feared that companies would move jobs overseas if they did not get subsidies in the United States.
Click here to continue reading.
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American Cities To Millennials: Don't Leave
USA Today - Haya El Nasser
The hot pursuit of young professionals has been at the core of American cities' urban revival for more than a decade. It worked. They came, they played, they stayed. "This Millennial generation is the generation that decides where it's going to live before it decides what it's going to do," says William Fulton, president of policy and research at Smart Growth America, a non-profit national coalition against suburban sprawl. "The stakes are very high. ... There are two big quality-of-life things that become important when you have kids: schools and recreational activities." And there's safety, housing, child care and outdoor space. "It's an enormous topic of conversation for city planners and politicians even if their constituents are older, because they're concerned about where their kids and grandchildren are going to live," Fulton says. "The question isn't so much getting families out of the suburbs into cities but getting them to stay in the cities." Click here to continue reading. |
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Northeast Indiana Young Adults Group Outline Priorities for 2013
Greater Fort Wayne Business Weekly
The Millennial Leaders Alliance, which is made up of young adults from across northeast Indiana and is part of the Northeast Indiana Regional Partnership's Vision 2020 initiative, on Wednesday announced its priorities for the coming year. The MLA's priorities were focused on two areas: leadership development and getting more millennials - those individuals roughly ages 15 to 25 - engaged in northeast Indiana. Among its leadership-development priorities in 2013, the MLA said it would like to see job-shadowing opportunities with Regional Opportunities Council members. The council oversees the Vision 2020 initiative to boost the region's economy and improve its quality of life. In addition, the MLA would like to see meetings with local organizations about the opportunities they have for millennials and opportunities for speed networking with Regional Opportunities Council members. To get more millennials engaged in the Vision 2020 initiative, the MLA called for: speaking at or hosting events at area high schools and colleges; hosting a "Spark Tank" event to encourage engagement; and hosting events that are aligned with the five main priorities of Vision 2020, which are 21st-century talent, a competitive business climate, entrepreneurship, infrastructure and quality of life. |
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Right-to-Work/Low-Union Profile States:
Making or Breaking a Deal
Area Development - Beth Mattison-Teig
Low-union and right-to-work (RTW) status may not rank at the top of the list when it comes to site selection criteria, but those factors certainly carry considerable weight in the overall decision-making process for many manufacturers. Choosing a state with a low-union profile or locating in a RTW state only ranked 10th and 12th respectively among a list of 26 different site selection factors, according to Area Development's 26th Annual Corporate Survey. Yet eight out of 10 respondents said that locating in a state with a low-union profile was either an important or very important factor in site selection, while more than three quarters rated locating in a RTW state as just as important.
Low-union and RTW status are important site selection factors for manufacturing companies in particular because the labor-management climate varies substantially from location to location across the United States and across North America, notes Mark M. Sweeney, a senior principal at McCallum Sweeney Consulting in Greenville, S.C. In fact, nearly 100 percent of McCallum Sweeney's manufacturing clients express a preference for operating a nonunion facility. "The primary reason given for this is work force flexibility, which allows companies to compete more effectively and respond in a more timely manner to opportunities in their highly competitive global markets," says Sweeney.
Click here to continue reading.
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Texas Business Incentives Highest in Nation
The New York Times - Louise Story
Under Governor Perry, Texas gives out more of the incentives than any other state, around $19 billion a year, an examination by The New York Times has found. Texas justifies its largess by pointing out that it is home to half of all the private sector jobs created over the last decade nationwide. As the invitation to the fund-raiser boasted: "Texas leads the nation in job creation." Yet the raw numbers mask a more complicated reality behind the flood of incentives, the examination shows, and raise questions about who benefits more, the businesses or the people of Texas. Along with the huge job growth, the state has the third-highest proportion of hourly jobs paying at or below minimum wage. And despite its low level of unemployment, Texas has the 11th-highest poverty rate among states. "While economic development is the mantra of most officials, there's a question of when does economic development end and corporate welfare begin," said Dale Craymer, the president of the Texas Taxpayers and Research Association, a group supported by business that favors incentives programs. Click here to continue reading. |
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Event to Spotlight Long-Term Plan Economic Plan
Inside Indiana Business
Indiana Vision 2025, a long-term economic plan for the state coordinated by the Indiana Chamber, was developed in 2010-2011 by a 24-person statewide task force. Its 33 goals in four driver areas are all intended to accomplish the mission that: "Indiana will be a global leader in innovation and economic opportunity where enterprises and citizens prosper." The four drivers are: an attractive business climate; a superior infrastructure; and a dynamic and innovative culture. Six forums in the summer of 2012 brought the original plan to the local level, allowing regional participants to provide input on the priorities and opportunities within their areas. Thursday's statewide summit focuses on the goals that were highlighted in those forums. Indiana Vision 2025 Key Drivers & Goals 1. Outstanding Talent 2. Attractive Business Climate 3. Superior Infrastructure 4. Dynamic & Creative Culture When: Thursday, December 6 Time: 3:40 p.m. - 5:00 p.m. Where: Westin Indianapolis Hotel (Capitol Ballrooms, first floor) 50 S. Capitol Ave. Click here to continue reading.
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Respectfully, Bryan Brackemyre Director of Marketing & Communications Boone County Economic Development Corporation 218 E. Washington St. Lebanon, IN 46052 (765) 482-5761 - Office (317) 903-9721 - Cell Email |
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