Search

An interview is presented with author and economist Richard Florida. Florida forecasts that the U.S. economy will see a decline in housing costs, which he states is necessary if economic development is to occur in other sectors. He says that it is urgent to upgrade the wages and earning capacities of persons employed in service industries. Florida expresses the belief that an emphasis on quality will become essential in marketing.

The article presents various socio-economic development in the United States. Connecticut-based NatTel LLC bid$ 25,000 plus the assumption of certain debts for Chicago Express Airlines, the commuter subsidiary ATA operates out of Midway. The Bush administration scratched a major new research project on the differences between matter and antimatter, leaving Fermilab to find a new scientific mission after current experiments end in four or five years. CTA riders will get 200,000 free single-ride tickets Monday in a Valentine's Day promotion sponsored by Charter One Bank. R.P. Fox& amp; Associates, owner of the Carleton Hotel in Oak Park, has agreed to buy the Wyndham Drake Oak Brook.

Chelsea is receiving $250,000 in Community Development Block Grant funds from the Michigan Economic Development Corp., to revitalize its downtown. The grant will support redevelopment of the 182,000-square-foot former Glazier Stove Factory in downtown Chelsea, known as the "clock tower," into office, retail and residential space.

Michigan governments no longer can seize property from private owners to spur economic development in the name of achieving a" public purpose." By ruling in favor of land owners objecting to condemnation for Wayne County's Pinnacle development near Detroit Metropolitan Airport, the court repudiated an earlier high court's ruling in the landmark 1981 Poletown decision. Most condemnation critics object to the notion of government seizing land from one private owner and turning the land over to another private owner.

There are a lot of reasons to be impressed with The Fund for Our Economic Future, which laid out its plan to begin allocating money to four organizations dedicated to sparking economic development throughout Northeast Ohio. Certainly it's encouraging to see the region's largest foundations put some of their financial might behind helping the economy grow by making multimillion-dollar contributions to the fund, which to date has raised about $26 million of its $30 million goal. And the response of dozens of area companies and philanthropic organizations, all kicking in $100,000 or more, suggests there's widespread agreement on the need to be more aggressive in seeking to improve the region's growth prospects.

For skeptics who doubt whether the fledgling economic development organization known as Team NEO can succeed in its mission of playing a catalytic role in the retention and attraction of businesses in Northeast Ohio, there is only one word of admonition, patience. Early evidence indicates Team NEO can and will make a positive contribution to the region's economic development efforts, though anyone who expects the group to hit home runs right away is going to be disappointed. Team NEO's first president, Robert Parley, has been on duty for less than nine months.

Developing and implementing clean-energy efficiency and renewable energy technologies can be a vibrant job-creation and economic development strategy for Illinois. First, electrical workers and other trades people do installation work. On public buildings, it's mostly performed by union trades people. Second, energy efficiency helps stem the huge energy dollar outflow from Illinois' economy. Third, making public buildings more energy-efficient can leverage annual state and local budget savings Fourth, Illinois and the Midwest are still the heart of the energy efficiency product-manufacturing sector.

Redevelopment plans for Detroit, Michigan's riverfront launched one year ago are beginning to bear fruit as the Detroit Riverfront Conservancy Inc. celebrates its first birthday by unveiling the design for the East RiverWalk. According to co-Chairperson Matt Cullen, general manager of economic development and enterprise services for General Motors Corp., with the RiverWalk under way and construction already begun for the state's first urban park, the envisioned $200 million of private development will follow soon.

Team NEO needs to bring together economic development efforts handled by a variety of organizations across the 13 counties of Northeast Ohio. Team NEO joins the ranks of super-regional economic development organizations that have established in many parts of the country. Two of the best, according to economic development consultants, are the Greater Phoenix Economic Council and the Pittsburgh Regional Alliance. While Team NEO is not modeled after either one, the experience of both offers the fledgling organization some guidance in taking its first steps.