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Economic Development Policy Trends Update. 9 th Annual Focus Northwest Florida Christopher D. Lloyd October 16, 2010. McGuireWoods Consulting. Public affairs approach to projects Establish long term relationships, not short term gains

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economic development policy trends update

Economic Development Policy Trends Update

9th Annual Focus Northwest FloridaChristopher D. LloydOctober 16, 2010

mcguirewoods consulting
McGuireWoods Consulting
  • Public affairs approach to projects
  • Establish long term relationships, not short term gains
  • Largest firm in Virginia, offices in North Carolina, South Carolina, Georgia, DC, Illinois
  • Nationwide project coverage
corporate trends
Corporate Trends
  • Increasing internal competition for capital investment funds
  • Shorter timeframes for corporate decision making
  • Devaluation of tax credits
  • More attention to long-term project costs (especially property taxes and energy costs)
  • Increased use of internal training resources
  • Increased use of out-of-town contractors and project managers
  • Increased attention to DMBE contracting
  • Desire flexibility in performance agreements for market fluctuations
  • Increasing importance of infrastructure incentives
policy drivers
Policy Drivers
  • Polls tell elected officials that “jobs” is the top priority
  • Some recognition that economic development leads to future revenue growth
  • Increased linkages between education and economic development
  • Significant federal resources (ARRA, general federal spending)
policy developments
Policy Developments
  • Conversion of tax credits to performance based grant programs
  • Increased use of state investment “funds” to spur corporate growth
  • Expansion of existing programs to encourage job retention, retraining, new capital investment (absent jobs)
  • Increased use of state funds to leverage local government resources
  • Industry specific incentives – increased targeting
  • Increased flexibility on eligibility criteria
slide6

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