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Economic Development Trends. Christopher D. Lloyd March 23, 2008. Trends Overview . Corporate trends Policy trends. Corporate Trends. Increasing internal competition for capital investment funds Shorter timeframes for corporate decision making Acceleration of project development
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Economic Development Trends Christopher D. Lloyd March 23, 2008
Trends Overview • Corporate trends • Policy trends
Corporate Trends • Increasing internal competition for capital investment funds • Shorter timeframes for corporate decision making • Acceleration of project development • Devaluation of tax credits
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
Corporate Trends • Increased attention to DMBE contracting • Workforce diversity • Desire flexibility in performance agreements for market fluctuations • Increasing importance of infrastructure incentives
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
Policy Trends • Shrinking budgets (real and nominal) • Increasingly complex incentives – consultant job security • Performance based incentives (grants) instead of tax credits • “Ombudsman” initiatives
Policy Trends • Increasing flexibility in use of training funds/delivery platforms • More local incentives • Site certification
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
Perceptions of North Carolina – The Bad • Aging and crumbling transportation infrastructure • Weak international connections (ports and airports) • Tax burden increasing • Incentives litigation
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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