Investing in Economic Development

September 28, 2015

I am not bound to win, but I am bound to be true. I am not bound to succeed, but I am bound to live up to what light I have.
-Abraham Lincoln

Does your community have an obligation to invest in and perform economic development? Many agree that it is “good business” to develop policies and tools that attract and stimulate investment and job growth, but is it an obligation? Should civic leaders feel accountable to invest time and resources into economic development efforts?

It could be argued that if government officials simply focused on the delivery of basic government services, businesses stayed in their lane and focused on maximizing profit, and academic leaders taught a defined curriculum, that everything would just work out.

While it is certainly true that each sector of the system needs to perform its duties well, it is also true that there is much to be gained by going well beyond. By leveraging the strengths of each sector and bringing them together to multiply their impact, the greater the good benefits.

Economic growth creates more paying customers for business and sustains a healthy tax base for the government. Economic growth is also completely necessary to address a complex array of socio-economic issues that cause persistent cycles of poverty. Without intentional, consistent intervention, too many of the most vulnerable would be left without opportunities for jobs and careers.

-Kenny McDonald

One Columbus

  • Thank you to the more than 400 One Columbus investors and public and private sector leaders who joined us for the One Columbus Celebration and Investor Update last week. Your respective commitments are the reason why our region has added more than 111,000 net new jobs and $6 billion in capital investment over the last five years.
  • This week, the One Columbus team will embark on a business development mission to Korea. We’ll also be in Cleveland for the IAMC’s Fall 2015 Professional Forum.
  • Back at home, EWI will hold an open house as part of National Manufacturing Day and the Mid-Ohio Regional Planning Commission will hold its Summit on Sustainability.