The national unemployment rate is 8.1%. National media outlets are continuing to bombard the American people with negative information regarding the economy. What does this mean for local economic development professionals? Now more the economic development profession has an opportunity to emerge and provide stakeholders with value. Here are a few suggestions that I have:

Provide Results

Whether you are talking about new business recruitment or retention and expansion our stakeholders deserve results. Performance is more important than ever. At www.claremoreusa.com, you can find updates of positive news stories that demonstrate the performance of the Claremore Industrial and Economic Authority. These articles and news stories are updated daily and communicate to local residents and businesses and prospects that Claremore has a healthy local economy.

Communicate Hope

In spite of the challenges of 2008, Claremore had a net job growth percentage of 3.8%. In the last 24 months CIEDA has announced $103 million in new investment for Claremore. Every city, county, state and region has a powerful asset-based story to communicate to stakeholders even in the darkest of times. It’s time we as economic development professionals begin telling the story of our stakeholders and help provide motivation for them to begin living again in this economy.

When a mom or dad is out of work they rely on us to create an employment opportunity for them. Those with jobs, need us to continue to meet the needs of local business stakeholders to ensure that they continue to have work. I have no doubt that the economic development profession will rise to the challenge and provide stakeholders with hope and opportunity in the future.

Tim Hight

Executive Director
CIEDA
www.claremoreusa.com

A cell phone is a just a phone without the power of a network of users. Likewise as the practice of Economic Development changes, the rules for how economic development organizations (EDO) market themselves are now determined by the network of relationships developed by the EDO. Site Selection consultants and corporate real estate executives are now becoming increasingly more dependent on the internet, requiring economic development organizations to invest more resources than ever into websites and internet marketing efforts

In a recent issue of Economic Development Now, Andy Levine of Development Councillors International concludes that over 64% of site selectors have indicated that they will use a website as part of their next facility search. This statistic represents a transition from asset based economic development to electronic marketing or Economic Development 3.0.

What does this transition mean for economic development organizations? Having a good website is vital to the marketing health of an economic development organization. Levine points out that economic development websites must include information on available incentives, demographics, available buildings & sites. The launch of the new CIEDA website at www.claremoreusa.com in February of 2009 marked a significant milestone for CIEDA. The updated website is becoming the electronic face of CIEDA. Since the beginning of the web marketing efforts CIEDA has developed a LinkedIn network of over 2 million electronic users, a daily Twitter following of over 400 followers, and electronic visibility in over 20 countries. This rapidly growing electronic network will become the platform on which future CIEDA recruitment efforts will be built.

Tim Hight

Executive Director
CIEDA
www.claremoreusa.com