Action expresses priorities.
A truth that we often forget is that economic development requires long-term investment by multiple stakeholders. No matter how simple or complex the economic development strategy, three forms of investment over a long horizon are required to advance any initiative: time, money and effort. There is no magic elixir to economic development success, but the probability of success rises substantially when we invest all three.
Multiple needs will always require simultaneous investment of time, money and effort in order to build a diverse and dynamic economy that consistently produces opportunity for everyone. Assisting in local companies’ growth; developing, maintaining and innovating infrastructure; and investing in education and workforce delivery to prepare for success are some of the needs that make prioritization essential.
So often we invest where we have succeeded, essentially doubling down on what we already have an abundance of in order to compete for what we already have. While we shouldn’t walk away from the things that have prospered in the past, we should invest in priorities that we believe are essential to success while being careful not become too dependent on one industry or strategy. It is important to regularly examine where we need more investment-such as neighborhoods, workforce, physical product or global trade and investment.
In the Columbus Region, we are investing in four fundamental areas:
- Growing our existing companies by assisting them directly and connecting them with customers and markets
- Helping organizations and people that build startups and high-growth companies
- Actively competing for the operations of companies from around the world that fit our communities
- Building capacity and preparing communities for future growth
All of these are priorities, and all require time, money and effort.
One Columbus Update
- Congratulations to Bleckmann, a third-party logistics provider dedicated to the fashion and lifestyle sector, who has announced it will enter to the U.S. market with 200 new jobs in Johnstown.
- This week, the One Columbus team will join JobsOhio Network Partners to meet with foreign companies considering the U.S. at the 2016 SelectUSA Investment Summit in Washington, D.C.