Latest in Economic Development

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This week’s Latest in Economic Development looks at a new regional partnership in St. Louis, ideas for improved small business permitting, more on a library co-working space, and the economic development effects of the sequester.

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St. Louis City and County announced a new partnership for economic development. The partial merger still preserves each individual jurisdiction’s economic development offices, but will combine “business development and attraction, loan programs and entrepreneurship efforts” under one umbrella. According to St. Louis Mayor Francis Slay, “We’re going to work together to make sure that business lands in St. Louis. And whether its city or county, we all benefit. It’s a regional economy. And we have to stop competing against each other.” The move received support from the business leaders who stressed that businesses want simplicity, leaders who work together, and one agency to interface with.  To learn more about regional economic development, check out NLC’s brief on the topic.

Waiting in line at city hall is a drag, and mayors are looking for solutions to simplify processes for new businesses.  As a finalist for Bloomberg Philanthropies’ Mayors Challenge, St. Paul Mayor and NLC First Vice President Chris Coleman makes a case for Permit Saint Paul, an online portal to secure businesses licenses and permits. The idea is to help residents avoid  the bureaucratic morass that can be part and parcel of the in-person licensing and permitting process. (Check out the other city finalists here at the Huffington Post.)

In San Antonio, Mayor Julián Castro is also trying to streamline things for small and new businesses. The Mayor is calling for a library-based one-stop shop where businesses could “get information, and the resources, the market data and the assistance they need to start their business.”

Speaking of libraries and small business, Atlantic Cities has details on Arizona State University’s “Alexandria Network.” The program will set-up dedicated co-working spaces and offer entrepreneurship courses and training in public libraries. According to Atlantic Cities’ Emily Badger, libraries are an ideal venue for the effort because “they offer a more familiar entry-point for potential entrepreneurs less likely to walk into a traditional start-up incubator.” The first location, mentioned in the last Latest in Economic Development, will be launching in partnership with the city of Scottsdale, AZ. next month.

Well, it’s happened, and the direct economic development effects of the sequester will largely play out in communities with defense-driven economies. It’s no surprise that the greater Washington, DC metro region will take a hit.   Military communities like Hinesville, GA and Killeen, TX, which expects 6,000 furloughed workers at Fort Hood are bracing for the impacts. And the three percent growth rate of the Greater Phoenix region is predicted to be cut by about half because of the sequester.  According to Mayor Scott Smithof Mesa, AZ, the region’s big economic contributors like Boeing will be fine, while smaller suppliers who depend on contracts with the larger companies will likely be the ones that suffer most.

Learn more about NLC’s economic development work here.

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