The Latest in Economic Development

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The Latest in Economic Development is back after a holiday hiatus and we’re kicking the year off with a look at a new program in NYC, the Bay Area’s food truck related growth, Phoenix’s economic recovery, and a round-up of the new city rankings.

Have thoughts or pieces to add? Comment below or email me at mcconnell@nlc.org.

Businesses in New York City get a new way to interface with government.

As part of a city-wide effort to provide more business services online, New York City’s Department of Consumer Affairs (DCA) launched a new live chat to help answer questions about regulations. According to Crain’s New York Business, business owners who sign in to the system are greeted by a DCA staff person and asked, “How can Consumer Affairs help you today?” in a Google Chat type format. In addition to the new online chat system, the city hopes to have 80% of applications for business permits and licenses online by the close of 2013.

Food trucks are in high demand, but they’re not the only businesses profiting from the mobile food craze.

According to Ben Worthen in The Wall Street Journal, the addition of an estimated 250 food trucks in the Bay Area has generated demand for other local businesses like vehicle customizers and logo makers.

Recovery is good, but will cities repeat past mistakes?

The Phoenix region was one of the hardest hit by the recession and is now experiencing a quicker than average recovery. However, Richard Shearer and Shyamali Maya Choudhury caution in The New Republic, Phoenix and other similar regions’ recoveries are driven by the same consumption industries like hospitality, retail, construction and real estate that “sunk their economies” in the first place. Further, these regions must move  “from a growth model focused inward and characterized by consumption to one that is globally engaged and driven by production and innovation.”

Not to be outdone by all Golden Globes, the new year brings a sort-of “best dressed list” for the economic development crowd.

Forbes released its “America’s New Tech Hot Spots” using research from the Praxis Strategy Group.  According to the ranking, which measures growth in science, technology, engineering and mathematics-related (STEM) jobs,  traditional tech hot spots have remained flat or lost STEM employment while “…double-digit rate expansions of tech employment have occurred in lower-density metro areas such as Austin, Texas; Raleigh, North Carolina; Columbus, Ohio; Houston and Salt Lake City.” The Washington, DC region came out on top in the rankings.

While San Jose, California was slighted in the aforementioned “America’s New Tech Hot Spots,” it took top billing in The Milken Institute’s Best Performing Cities, which uses a variety of weighted metrics (job growth, wage growth, concentration of tech companies, etc.). The Austin and Raleigh metropolitan areas captured the second and third spots.

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