Tag Archives: incentives

What makes a Boom Town?

The last couple of days have been in Effingham, Illinois.  Effingham is the home of Jack Schultz, the author of author of Boomtown USA: The 7-1/2 Keys to Big Success in Small Towns and CEO of Agracel, a developer of industrial projects.  Jack and his wife Betinha have been the most outstanding hosts.  Effingham is a community of just over 12,000 people who have committed to creating a better future over a long period of time.  What is most impressive is the difference a few people can make instigating and persevering with projects as times change and reinvention is the new norm. 

I was fortunate to have a number of tours of local businesses.  Pam gave a great insight into the Patterson Technology Center, which started off as a software company and now with a number of activities employs 450 people locally.  It just goes to show how one or two people can create wealth and opportunity for the wider community.  Jack also gave a whirlwind tour of Midland States Bank which has seen some big growth in the last few years and also supports a number of community initiatives (see CEO below).  I even managed a ride on a locomotive.

effingham train

Agracel

Agracel has a great niche in providing development services to Agurb® (rural) communities.  They’ve done over 100 projects in 17 states so see all sorts of approaches to economic development outside big cities.  Some interesting insights were around manufacturers preferring to be in rural locations because of costs, workforce availability and work ethic.  Do manufacturers currently in cities consider relocation?  Anything is possible, it just comes down to people…I’d recommend the BoomTown book for some down to earth ideas.

City of Effingham Economic Development

Todd and the team gave a overview of some of the tools they have in their incentives toolkit, including Business districts, enterprise zones and tax increment financing districts.  Their insight about advantages of smaller locations were simple – quality of life.

CEO (Creating Entrepreneurial Opportunities)

Craig is incredibly passionate about the importance of kids learning entrepreneurship through learning and changing the way kids view the world.  Students have 90 minute classes each day, are integrated with the local business community and every student starts their own business.  It is similar to the Young Enterprise Trust in NZ.  Do you see value if children learning entrepreneurship for 90 minutes a day, even if their business fails at the end of it?  If you fancy yourself as an entrepreneur, take the Gallup Entrepreneurial Profile 10.

Tuscola Chamber and Economic Development, Inc. (TCED)

The last session of the day was with the very passionate and saavy Brian.  After years of hard work, they have recently secured investment in a Cronus $1.4b fertiliser plant.  Brian gave his thoughts on success – knowing your local strengths, learning from failure, community engagement and just how much of a long term commitment economic development is.  He is another believer in the small town advantage.

Advertisements

Beautiful Boise, events and the end of week one

The last day of the first week offshore and I’m not sure if it feels like just yesterday I left home or a month ago.

Today was in Boise, Idaho which is a beautiful ‘city of trees’.

P1000911

Idaho Commerce

First up was the team from Idaho Commerce for a very productive conversation, given the remoteness of Idaho and the challenges that brings.  The team has a strong focus on supporting job creation.  There are some interesting initiatives including Accelerate Idaho, a reasonably new tax reimbursement incentive and the Idaho rural partnership fund.  Rurally we talked about moving agricultural products higher up the value chain which when combined with tourism can create even more value (e.g. niche food, craft beer and wine).  Education and the war for talent was raised as a big challenge in the future.

Boise City

From there it was on to meet Nic, ‎Director of Economic Development at City of Boise.  Nic gave me a great overview of the layers of government in the US and how they interact.  Some great ideas flowing from Startup in a day, Obama’s government startup and the Mayors Innovation Project.  Nic reinforced the importance of having good data balanced with customer insight.  My favourite project was a Spring Into Code, which introduces kids to computer science at a young age which is what industry is asking for.

Boise Valley Economic Partnership (BVEP)

I met Jana, who had lived in Tokoroa on an exchange as a secondary school student.  BVEP is a regional economic development agency covering a number of counties and the City of Boise.  Jana reinforced the importance of business attraction by proactively prospecting for new business and working with ‘site selectors’, which is a big industry in the US.  They have some very insightful data and geospatial information combined with customer insight to help identify the sweet spot of what Boise Valley can offer.  In other words, understanding the behaviour and perceptions of prospective and current businesses, rather then using assumptions.  Broken record…but skills and workforce development raised again as key for the future.

International Festivals and Events Association (IFEA)

Taupo District has a strong affinity with IFEA, having previously won an IFEA World Festival & Event City Award.  I was hosted by Nia, including a tour of the beautiful Boise Depot.  IFEA have a great range of great education, information, conferences and awards to name a few and as a result I came away with a ‘to do’ list for when I return.  On the new idea front, it will be interesting to see if crowdfunding for events takes off.

So that is week one done and dusted…it’s a weekend away from work, exploring and driving in Oregon and definitely some downtime before another huge week.  Thanks for all the messages, it’s great to hear from you when travelling solo.  The Friday night thing to do in Boise is float down the river in an inflatable with a chillybin onboard…

P1000919