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183 C The New Economy Thriving amidst Change Zenia Kotval and John R. Mullin ommunities increasingly see their economic development goal as one of attracting job-generating industrial development and face the need to develop a plan that will achieve this goal. Communities need to know a great deal to succeed at what has become a formidable task, and many have few resources to hire experienced planners to assist them. This chapter is intended to provide information to communities and others that may be embarking on just such planning. The consulting we have undertaken around the country has shown us firsthand the rapid changes that are taking place in the economy and how communities will need to be resourceful and creative if they are going to succeed at self-preservation while at the same time attracting new jobs. The “New Economy” of the twenty-first century is different from the industrial economies of previous decades. Competition, consumer demand, and resource restructuring are all transforming the way business operates in today’s highly competitive market. Emerging technologies, global markets, the changing role of government, and the redirection of public resources are just some of the forces affecting the way industry is transforming the nature of work. These emerging trends are increasingly influencing the way communities engage in industrial development. It is thus essential that anyone involved in local economic development have a firm grasp of how and where the marketplace is moving. The first half of the chapter spells out the major trends that are dramatically changing the nature of the issues that communities need to be aware of. The second half takes readers through a step-by-step approach that communities can follow in this changed environment to develop an effective comprehensive economic development strategy. Major Trends in Community Economic Development As we shall see, many past truisms no longer hold, or at the very least must be modified in significant respects if communities are to succeed in the twenty-first century in their community 13 184 Enhancing Community Strengths economic development efforts. Increasingly, communities are discovering that they must adapt to the marketplace; they need to become more proactive in controlling how and where they stimulate development; they must show greater concern for providing the necessary ingredients for industry to succeed; and, their planning processes must increasingly reflect world events and the speed of change. The first half of this chapter outlines eight emerging trends concerning industrial development that we have noted over the past decades in our consulting practice and academic research and that are driving these changes in what communities need to do. The trends described here are not exhaustive nor will they be reflected in all parts of the country. (1) Land is not enough. In community after community, local promotional efforts have followed the optimistic but misguided practice of signaling interest in promoting development and attracting businesses by doing little more than placing a prominent sign at the edge of town proclaiming something like “Maplewood Means Business: Industrial Land Available.” And communities then wait and wait and wait. The land considered available for sale for industrial purposes may well consist of little more than the corner lot of the late farmer James’s farm that is being sold by his heirs. Often such land lacks even the most basic infrastructure improvements: it has no water or sewer services, no easy access to highways, and no protective covenants. And such towns, as they wait, often puzzle over why the next great company is not being attracted to this land. Unfortunately, simply having land available is rarely enough in today’s intensely competitive environment. If a community is interested in attracting first-rate industrial development, then a group of basic requirements must be met. Far too often communities remain unaware of these requirements and thus fail to include them in their economic development planning. The typical industrial park needs 50 to 100 acres of land and should be within 15 minutes of a major highway and 30 minutes of an airport. In addition, the site must be environmentally clean, have water, sewer, and telecommunications infrastructure, and should be buffered from residential neighborhoods. Of the previously listed attributes, the absence of water and sewer systems represents perhaps the greatest barrier to success. Without such systems, a community is unlikely to succeed in attracting industrial development. Indeed, we know of one community offering industrial land without such services where, ironically, the sign saying “We Mean Business ” fell down long...

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