A Four-Point Plan for Growth

October 7, 2013

China will convene a meeting next month to unveil its economic priorities for the next decade. While our federal government is not structured in a way that makes that a realistic possibility, at a local level we do that same thing regularly with strategies like One Columbus. Henry Paulson, the former U.S. Secretary of the Treasury, recently wrote an understand that your growth model needs to change – continuously. Business models and geographic competition move swiftly in today’s economy, and in order to keep pace, economic development plans need to constantly adapt and tactics need to be tweaked or dropped all together depending on their impacts.

Second, leadership has to be “vigorous” and willing to provide the resources and support necessary for plans to work. In China, this is obviously “public” leadership – while in America it is a combination of elected leaders and private businesses that have to come together to affect change.

Third, communities do not have the luxury of delaying their economic development plans. Particularly at the state and local level, there is no one to pass the buck to, and a bias for action is necessary to ignite job growth and capital investment.

Finally, the public wants to see actions taken that will make it easier for them to find work, start a small business or improve their communities. Developing a plan and changing tactics as conditions change is important not only to execute towards a long term goal, but to build confidence that actions are being taken to create stability and upward mobility for people in your community.

Kenny McDonald

One Columbus Update

  • Thanks to the many of you who worked with our team to celebrate The Presidents Cup last week and thank you to all who both planned and attended the Morning Reception and Business Address on October 3.
  • Last week, our team traveled to Salt Lake to attend the Industrial Management Asset Council’s Professional Forum. This week, our team will join a large group of economic development professionals in Philadelphia for the International Economic Development Council’s Annual Conference, and we’ll also attend the CBRE Americas Summit 2013 in Las Vegas.
  • October is Ohio Manufacturing Month and we would like to thank the many partners and companies who are doing outstanding work in this sector. Manufacturing is a critical driver in our economy, employing hundreds of thousands of Ohioans at an average salary that is higher than other industries.