“If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.”
The path to economic growth is seemingly rational and linear for those who are open to private investment and are working hard to secure jobs and investment. It is not.
Nations and communities alike have stakeholders who stubbornly want to retain the status quo, alongside change agents who rapidly want to alter strategies. Still others are not only competing with you, but purposefully feeding negative perceptions about your area. (Can you say “Rust Belt”?)
While economic development has proven to be served best by consistent, long-term efforts, there are twists and turns as business, civic and government leaders are constantly changing, and policies and commitments come and go along with them. These common obstacles can dissuade some from the pursuit of growth and productivity to create a better economy. It is at this point that fear creeps in and it is easy to blame others for the challenges. This is where communities usually make poor decisions in search of a silver bullet or quick fix.
So, what to do? Persevere, build your brand positively, compete fiercely, engage stakeholders and continue to keep your eyes on your most important goals. Leaders, circumstances, and economic conditions certainly change.
Columbus 2020 Update
Columbus 2020 and CoreNet Global Ohio-Kentucky Chapter will host The Chicago International Trade Commissioners’ Association (CITCA) on May 9 to discuss their thoughts and insights on global trade and investment in today’s internationally intertwined economy and how it impacts development, innovation and economic activity in our communities and real estate markets. Click here to learn more and register.