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Economic Development Trends

Economic Development Trends

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Economic Development Trends

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  1. Economic Development Trends Christopher D. Lloyd March 23, 2008

  2. Trends Overview • Corporate trends • Policy trends

  3. Corporate Trends • Increasing internal competition for capital investment funds • Shorter timeframes for corporate decision making • Acceleration of project development • Devaluation of tax credits

  4. Corporate Trends • More attention to long-term project costs (especially property taxes) • Increased use of internal training resources • Increased use of out-of-town contractors and project managers

  5. Corporate Trends • Increased attention to DMBE contracting • Workforce diversity • Desire flexibility in performance agreements for market fluctuations • Increasing importance of infrastructure incentives

  6. Corporate Trends • Commitment to environmental stewardship and sustainability • Rational and uniform environmental laws • Sinking U.S. dollar is spurring corporate investment by foreign companies • Focus on energy costs

  7. Policy Trends • Shrinking budgets (real and nominal) • Increasingly complex incentives – consultant job security • Performance based incentives (grants) instead of tax credits • “Ombudsman” initiatives

  8. Policy Trends • Increasing flexibility in use of training funds/delivery platforms • More local incentives • Site certification

  9. Perceptions of North Carolina – The Good • Strong ability to put lots of money on the table • Strong pro-business climate • Right to work and proud of it! • Supportive local governments • Excellent post-secondary education

  10. Perceptions of North Carolina – The Bad • Aging and crumbling transportation infrastructure • Weak international connections (ports and airports) • Tax burden increasing • Incentives litigation

  11. Perceptions of North Carolina – Issues to Watch • Energy policy and politics • Environmental policy and politics • Impact of BRAC • Impact of immigration • Rural North Carolina – the Have Nots

  12. THE END Business Expansion Services | Constituency Development | Economic Development | Federal Budgeting and Contracting Advice | Federal Legislative Assistance | Grassroots Contact Program | Issue Advocacy | PAC Consulting | Public Infrastructure Finance | Public-Private Partnerships | Referendum Campaigns | State Government Relations ATLANTA • BUCHAREST •CHICAGO • SPRINGFIELD • RALEIGH • RICHMOND • TYSONS CORNER • WASHINGTON, D.C. www.mcguirewoodsconsulting.com