Network eyes next step

Invites public to conversation on economic development

By CHRISTINE NEFF

A lot of listening - that's what the Greater Newark Network has been doing over the last few months, and the group plans to continue that trend next week at a public meeting on economic development in the Newark area.The Network, which formed in May, pulls together representatives of business and academic communities, as well as government agencies and individuals interested in promoting economic growth here. The group hopes to foster the retention and expansion of employers in the greater Newark area and to establish Newark as a hub for high-tech industries. Read more...

If you would like to attend this event please email me at chadwickb@ncccc.com

New Study: "Accelerating Technology Transfer in Greater Philadelphia"

Commissioned by the CEO Council for Growth, this new Economy League study analyzes the gap between the region's robust technological research and the ability to commercialize these new discoveries as a catalyst to greater economic growth. The report makes targeted recommendations on the ways in which stakeholders in the private, public/non-profit, and academic sectors can contribute to accelerating technology transfer.

Read the full report.

Expanding companies get electric discount

Newark City Council OKs lower rate for industrial businesses.

Technology, manufacturing and research companies moving to or expanding their operations in the city may now be eligible for up to a 10 percent discount on their electric bills.

City Council on Monday unanimously passed a new "economic development" electric discount rate for industrial businesses making investments that stand to add more than $200,000 to Newark's assessed tax base. Read more..

Kudos to Newark City Council for enacting this measure and to the Greater Newark Network for the role they played advocating for it.

Promoting Entrepreneurship in Buffalo

Big ideas for entrepreneurship in Buffalo. A proposal has been made to establish an investment pool of at least $5 million allocated annually, which would be used to make grants up to $250,000.

According to the article: "The grants would be awarded on a competitive basis to entrepreneurs who have graduated from college in the past 10 years, set up shop in Erie or Niagara counties and whose business would be involved in one of the six clusters economic planners have deemed to have the best potential for the region."Read more.

Are we as focused as we should be here in Delaware on promoting entrepreneurship?

Economic Development and Smart Growth

Economic development success and smart growth can go hand-in-hand. IEDC’s Economic Development and Smart Growth presents eight case studies on communities that incorporated smart growth principles in their development projects and have experienced economic development improvements in the form of increased tax revenue, more jobs, higher income levels, downtown revitalization, business growth, and other indicators of economic success. The case studies range from the use of transit-oriented development in Portland, Oregon, where light rail has sparked $3 billion in new development, to commercial corridor revitalization in Pittsburgh, Pennsylvania where it has nearly doubled the per capita income in the south side of the city. IEDC’s case-based research provides direction for local government officials, economic development professionals, and all those concerned with the future of their communities. Read more...

Currently, New Castle County Council has a Smart Growth committee that is working to develop smart growth oriented ordinaces in support of the county's comprehensive land use plan. Perhaps we can all take some time to read the IEDC case studies and use this forum to provide some feedback on how we here in NCC might benefit from Smart Growth. Look forward to your comments....

Entrepreneurship at UNC-Greensboro

The University of North Carolina at Greensboro has announced the launch of a new comprehensive, campus-wide entrepreneurship program. Building Entrepreneurial Learning for Life, or BELL, is starting this fall and will ensure that all students, regardless of their majors, will be exposed to the world of starting and operating not-for-profit as well as for-profit enterprises. The UNC Board of Governors has mandated that the economic development needs of the state must become a central objective of the university system. Read more...

This is a fascinating concept and is quite interesting on several levels. First, it recognizes the importance of entrepreneurship in preparing students for success in the economy of the future. Second, it represents a major commitment by the University to the economic development of the state.

How are we doing in Delaware with regard to our efforts to promote entrepreneurial activity? How can we increase our interactions with our own universities and colleges to help promote entrepreneurial education and make sure they are active partners in our state’s economic development? Would love to hear about current things that are going on or ideas for some initiatives we could pursue in this regard.

A new experiment to encourage economic development conversations

Ok folks, let's start having some interesting conversations about economic development in New Castle County!

If you would like to have the ability to create a new post on this blog, please email me at chadwickb@ncccc.com. Even if you choose not to post, I hope you will add comments, share information, and recommend topics to explore.

JOIN THE NETWORK! Care to have have your name or your company or organization name listed in the members section? Just let me know and I will add you to the list. I will not add anyone's name without express permission. I would like this list to grow very long. Let's create a large network of people thinking about, talking about, and acting on ideas to promote economic development.