Download - Solving Challenges Others Cannot Economic Development Trends Christopher D. Lloyd March 23, 2008
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Solving Challenges Others Cannot
Economic Development
Trends
Christopher D. LloydMarch 23, 2008
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Trends Overview
• Corporate trends • Policy trends
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Corporate Trends
• Increasing internal competition for capital investment funds
• Shorter timeframes for corporate decision making
• Acceleration of project development• Devaluation of tax credits
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Corporate Trends
• More attention to long-term project costs (especially property taxes)
• Increased use of internal training resources
• Increased use of out-of-town contractors and project managers
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Corporate Trends
• Increased attention to DMBE contracting
• Workforce diversity• Desire flexibility in performance
agreements for market fluctuations• Increasing importance of infrastructure
incentives
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Corporate Trends
• Commitment to environmental stewardship and sustainability
• Rational and uniform environmental laws
• Sinking U.S. dollar is spurring corporate investment by foreign companies
• Focus on energy costs
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Policy Trends
• Shrinking budgets (real and nominal)• Increasingly complex incentives –
consultant job security• Performance based incentives
(grants) instead of tax credits• “Ombudsman” initiatives
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Policy Trends
• Increasing flexibility in use of training funds/delivery platforms
• More local incentives• Site certification
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Perceptions of North Carolina – The Good
• Strong ability to put lots of money on the table
• Strong pro-business climate • Right to work and proud of it!• Supportive local governments• Excellent post-secondary education
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Perceptions of North Carolina – The Bad
• Aging and crumbling transportation infrastructure
• Weak international connections (ports and airports)
• Tax burden increasing• Incentives litigation
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Perceptions of North Carolina – Issues to Watch
• Energy policy and politics• Environmental policy and politics• Impact of BRAC• Impact of immigration• Rural North Carolina – the Have
Nots
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