June 2005, Volume: 8, Issue: e/6, ISBN 1527-5175

~~~Facts Don't Change Behavior. Feelings Do... Change or Die... "If you look at people after coronary-artery bypass grafting two years later, 90% of them have not changed their lifestyle." said Dr. Edward Miller in Change or Die, an article in Fast Company. Changing behavior is extremely difficult. As consultants, we have seen this over and over again. John Kotter, a Harvard Business School professor, put it this way... "The central issue is never strategy, structure, culture, or systems. The core of the matter is always about changing the behavior of people." To be an effective change agent, economic development professionals must study the process of change. Effectiveness is more than an accumulation of personal past experience. Source: Fast Company, May 2005

~~~City of Chicago & ComEd... received the Business Retention Economic Initiative Award from BREI at the annual meeting in Nashville, TN, June 2 & 3. Mayor Richard M. Daley stated the program built on the Synchronist program "enhances services for industrial businesses and plans better for future growth... Chicago is a better place because of this program and the dedication of our partners to industrial retention." The key man on this 5-year old program is Ed Sitar, ComEd, An Exelon Company.

~~~Globalization... Key drivers to fuel globalization include a worldwide trend toward deregulation. Barriers to conducting business internationally are being lowered, creating greater efficiencies.

~~~Melting away... Education, transportation, communications have for a long-time been the U.S.'s global competitive advantage. These competitive advantages are melting away as other markets emerge and take their place on the economic stage. Have you thought about what this means to your local economic development strategy? 5 yrs. 10 yrs. 20 yrs. Prepare now, it could give your community a competitive advantage down the road.

~~~ Job loss challenge... Your community stands to lose more jobs to technology than to global competition. Synchronist Users have documented that 57% of the companies in their communities face significant technological change. The tech changes that keep them up at night?  Technology outside their industry they don't know about that could make their product/service obsolete overnight. 1) What's happening where you live? And, 2) Does your existing business strategy have you playing a role or watching from the sidelines? Source: Synchronist National Data Study, 2004, Blane, Canada Ltd.

~~~ News flash!!! The easy economic development is behind us. Now, what are you going to do tomorrow?

~~~Got a tech tip or a favorite shareware program you use for economic development purposes. Let us know what tool you found useful and how you are using it. We will share the responses. ecanada@blanecanada.com

~~~"Most... of the things that can go wrong in life happen when your mouth is open." Joe Gibbs, Washington Red Skins Coach.

~~~New data... The Office of Advocacy, U.S. Small Business Administration announced the release of new firm size data covering the economic dynamics of metropolitan and rural areas. Establishment births, deaths and employment changes by firm size for all Metropolitan Statistical Areas and Non-MSAs by state for 2001 to 2002 can be found at http://www.sba.gov/advo/research/data.html#st. MSA_s establishment of births and deaths by employment size of firm from 1989 to 2001 will be available in a few months (but employment levels will not be available.) State Non-MSA and MSA data for the last five years is available but not posted.  Plus, if you are so inclined, the Office of Advocacy list serves to keep you informed, see http://web.sba.gov/list/. Source: Brian Headd, Office of Advocacy, U.S. Small Business Administration, Brian.Headd@sba.gov, 202-205-6953

~~~"I attended your creativity workshop in Mississippi earlier this year and it really had an impact on me. I took one concept, the mirror, and incorporated it in the presentation of our annual work plan to the Board. When each Board Member turned to see who was going to "make this happen," they came face to face with themselves. We put mirrors on the back page. It had tremendous impact. Thank you." Patsy Gregory, MS

~~~Newsletter Nuggets... BREI's 2005 Annual Conference in Nashville, TN, June 1-4, was outstanding. Andrew Laidlaw of Blane, Canada Ltd. offers these memorable points for those who did not attend:

~~~How important is business retention/expansion?... 100% of job loss comes from existing businesses! Greg King, Georgia Tech, 2005 BREI Conference

~~~What does the modern day career path resemble? Try a spider web.  Employees today are more self-reliant and transient than ever before.  Lifestyle trumps work as a priority for today’s young professionals.  Rebecca Ryan, Next Generation Consulting, 2005 BREI Conference

~~~How do you get past the gate keeper?  Len Becker, Downtown Phoenix Partnership, and his colleagues use a two step process. 1) A letter from the mayor’s office is mailed to an executive 2-3 days prior to calling. 2) A consultant was hired whose only job is to make appointments over the phone. She works from her home, has 5 lines, several excellent rebuttals, and never schedule interviews for Mondays or Fridays, unless specifically requested. 2005 BREI Conference.

~~~See you in Chicago... at the IEDC Annual Conference, Sept. 25-28. Be sure to register for this conference which offers more contacts per sq. foot than any event in economic development.  http://www.iedconline.org/AnnualConference/index.html

~~~Wisconsin entrepreneurs... heard two speakers/authors in June. The books and authors are: "Bold Women, Big Ideas" by Kay Koplovitz and "Enlightened Entrepreneurs" by Grace Bulger.

~~~A Bank of America Market President from a major Southeast city told me... that BofA has focused their giving criteria on results-based organizations. This holds especially true for economic development organizations. What is your return on investment? Terry Cusack, CEO, STELLAR Fundraising Executives, Inc.

~~~5+ years of cost cutting... means that companies must now invest in people and infrastructure to create new business opportunities. Synchronist Users have documented this reality through their executive interviews. They have found, in the past 5 years, only 19% of the companies interviewed introduced new products. In the next 2 years 75% plan to introduce new products. Are you on top of the opportunities in your community? Source: Synchronist National Data Study, 2004.

~~~"Thanks again... for your great newsletter and all the interesting ideas you cultivate and share." Source: Jonathan Gemmen, Director, Business Recruitment, Metro Orlando Econ. Dev. Com.

~~~"Thank you... for the informative, credible newsletter. It has consistently provided useful statistics and valuable perspectives." Source: Jami, AZ Dept of Commerce

~~~Take advantage... of our archive. We have been writing the newsletter for more than 10 years, 8 years via e-mail. We have tracked topics and created an archive at our web site for your ease of use. Go to our web site to find out what is available under various terms ranging from "meta-search" and "gray" to "Bloomberg" or "cache". http://www.blanecanada.com/newsletters/search.html

~~~Quick... name three new economic developers in your state? Now, hit the forward button on your e-mail and send them the ED Marketing Letter with your personal FYI.

~~~The U.S. is the leader... in cumulative foreign direct investment (FDI), with more than $1.5 trillion (19% of all FDI) worldwide as of 2003. Source: U.N. Conference on Trade and Development as reported in the Fed Gazette, May 2005

~~~"Brownfield Redevelopment: Outcomes in Illinois"... is an article by the Illinois Institute for Rural Affairs (IIRA) examining common factors in cities with successful brownfield projects. The collaborative research was based on the involvement of the IL EPA, Western Illinois Regional Council, the Illinois Municipal League, and the IIRA. Some brownfield projects replace manufacturing, some create retail or mixed residential projects, and others create parks or recreational areas. Frequently used financing options include Tax Increment Financing (TIF) or Enterprise Zone incentives. However, creative financing by local lenders was an important factor in many instances. Source: IIRA spring 2005, www.IIRA.org

Blane, Canada Ltd.
1506 Cadet, Suite 100
Wheaton, IL 60187-7380
ph 630.462.9222
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