Friday, January 25, 2013
Ford County economic development agency disbanding
When individual communities decide to go it alone, the economic development effort is irreparably harmed. Too bad for Ford County. More here.
County halts funding to economic development council
Clark County Washington County Commissioners have halted funding to the Columbia River Economic
Development Council (CREDC) for their support of of a light rail transit line.
The county funds the EDO under a two-year contract with the CREDC worth $200,000.
The commissioners wrote a letter in which they said that “We certainly recognize the positive value that CREDC can bring to economic development in Clark County through its recruitment and retention programs. However, that focus on jobs has been diluted by the CREDC Board voting to advocate for the CRC project which includes light rail. Since Clark County voters took a firm position against light rail during the general election on November 6, 2012, it would be inappropriate for their county government to provide public funding to any agency which acts at odds with their vote.” More here.
The county funds the EDO under a two-year contract with the CREDC worth $200,000.
The commissioners wrote a letter in which they said that “We certainly recognize the positive value that CREDC can bring to economic development in Clark County through its recruitment and retention programs. However, that focus on jobs has been diluted by the CREDC Board voting to advocate for the CRC project which includes light rail. Since Clark County voters took a firm position against light rail during the general election on November 6, 2012, it would be inappropriate for their county government to provide public funding to any agency which acts at odds with their vote.” More here.
Thursday, January 24, 2013
Economic development costs Nevada $30,000 per job in tax incentives
By Anjeanette Damon
Nevada officials approved $87.6 million in tax incentives to create nearly 2,900 jobs in the past two years, according to data obtained by the Las Vegas Sun.
That’s about $30,000 in forgone tax revenue per job.
Some state economic development officials argue that figure shouldn’t be looked at as a cost to taxpayers. Instead, they say, it’s a $30,000 per job enticement — a temporary cessation in tax collection — that brings with it jobs, additional tax revenue and a broader economic effect, such as construction jobs and bumps in consumer spending. More here.
Nevada officials approved $87.6 million in tax incentives to create nearly 2,900 jobs in the past two years, according to data obtained by the Las Vegas Sun.
That’s about $30,000 in forgone tax revenue per job.
Some state economic development officials argue that figure shouldn’t be looked at as a cost to taxpayers. Instead, they say, it’s a $30,000 per job enticement — a temporary cessation in tax collection — that brings with it jobs, additional tax revenue and a broader economic effect, such as construction jobs and bumps in consumer spending. More here.
SD Lawmakers Look For Incentives
South Dakota legislative leaders are
working to find a new way to provide financial incentives that would
help recruit new large industrial projects to the state.
In November, voters rejected Republican Gov. Dennis Daugaard's plan to use tax money to provide incentive grants to attract companies to South Dakota, leaving the state without an incentive program for large construction projects, such as manufacturing plants and wind farms. More here.
In November, voters rejected Republican Gov. Dennis Daugaard's plan to use tax money to provide incentive grants to attract companies to South Dakota, leaving the state without an incentive program for large construction projects, such as manufacturing plants and wind farms. More here.
Wednesday, January 23, 2013
It’s back to the future with enterpriseSeattle’s name change
Staff,
Puget Sound Business Journal
One of King County’s leading economic development agencies has changed its name back to the Economic Development Council of Seattle and King County.
The public-private organization, based in Seattle, adopted the name enterpriseSeattle in 2005. The agency’s decision to return to its former name took effect today.
The EDC’s board of directors changed the name to eliminate brand confusion and to underscore its countywide mission, the organization said in an email newsletter.
The EDC was founded in 1971 with a service area encompassing King County and its 39 cities. It is dedicated to growing the jobs and the tax base by recruiting, keeping and growing businesses.
One of King County’s leading economic development agencies has changed its name back to the Economic Development Council of Seattle and King County.
The public-private organization, based in Seattle, adopted the name enterpriseSeattle in 2005. The agency’s decision to return to its former name took effect today.
The EDC’s board of directors changed the name to eliminate brand confusion and to underscore its countywide mission, the organization said in an email newsletter.
The EDC was founded in 1971 with a service area encompassing King County and its 39 cities. It is dedicated to growing the jobs and the tax base by recruiting, keeping and growing businesses.
Region's economic development leaders dismiss collaboration, slight D.C.
- Michael Neibauer
Washington Business Journal
“Washington, D.C., is like California in that they can’t seem to chase companies out of their jurisdiction fast enough,” Gerry Gordon, president of the Fairfax County Economic Development Authority, said Friday during a panel discussion at the Cardinal Bank-George Mason University Greater Washington Economic Conference. The panel was moderated by Washington Business Journal Publisher Alex Orfinger.
Gordon, Terry Holzheimer of Arlington County, David Iannucci of Prince George’s County and Jeffrey Kaczmarek of Prince William County generally agreed that regions with strong areawide branding efforts tend to focus those efforts on a strong central city.
But D.C., they said (all except Iannucci), is not that, leaving the suburbs to fend for themselves. More here
Ohio governor shifting gears on economic development incentives
During his year-ender with reporters last month, Ohio Governor
John Kasich said he isn't interested in companies that come to him with threats of
moving out of state absent copious incentive packages.
Here's how he was quoted on the subject: "If you want to leave Ohio and you say we're leaving if you don't give us help, that program's off the board. It's not on our website. We might help somebody if they're leaving and it's a special case … Believe me, there are CEOs that call me. I say, look, if you want to leave, I hope you have a nice trip. You know what's funny? They don't leave. Then they want me to get in a bidding war with somebody in another state." More here.
Here's how he was quoted on the subject: "If you want to leave Ohio and you say we're leaving if you don't give us help, that program's off the board. It's not on our website. We might help somebody if they're leaving and it's a special case … Believe me, there are CEOs that call me. I say, look, if you want to leave, I hope you have a nice trip. You know what's funny? They don't leave. Then they want me to get in a bidding war with somebody in another state." More here.
Group eyes regional assets as means to drive economic development
Asset evaluation was one of the items on the agenda for the steering committee of Focus Forward CI, the economic development group that had its first meeting of the year Tuesday morning at the Caterpillar Visitors Center in Downtown Peoria. More here.
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