This is an excerpt from "Enterprising States: Creating Jobs, Economic Development, and Prosperity in Challenging Times" authored by Praxis Strategy Group and Joel Kotkin. The entire report is available at the National Chamber Foundation website, including highlights of top performing states and profiles of each state's economic development efforts.
Enterprising States: Hard choices now, hard work ahead: State Strategies to Renew Growth and Create Jobs
International travelers and expatriates have long known that currency exchange rates are not reliable indicators of purchasing power. For example, a traveler to France or Germany will notice that the dollar equivalent in Euros cannot buy as much as at home. Conversely, the traveler to China will note that the dollar equivalent in Yuan will buy more. read more »
The ten story of mural of LeBron James is coming down in Cleveland. This one hurts. James wasn't just the latest embodiment of Cleveland's hopes, he was a local kid who, unlike so many, had stayed home in Northeast Ohio. His joining of the Cleveland exodus at a time of severe economic distress prompted Cavaliers owner Dan Gilbert to pen a now infamous open letter to fans: read more »
In seeking to lure a Chinese lightbulb-maker to town, Cleveland leaders revealed both a vision and a blind spot.
Cleveland Mayor Frank Jackson and his team should be given credit for recognizing the tremendous opportunity in attracting foreign direct investment, or “FDI,” and the new jobs that it provides. read more »
Cuyahoga County Treasurer Jim Rokakis, who is based in Cleveland, estimates that new census numbers might show Cleveland's population to be 325,000, a whopping 153,000 drop in 10 years! That would be an average of 15,000 people leaving Cleveland every year.
That’s 1,250 people jumping ship every month,
312 people fleeing the wreckage every week,
45 people evacuating every day, or
2 people running out of Cleveland every hour, 24/7, the whole year, for 10 straight years. read more »
What if we achieved the urbanist dream, with people deciding en masse to move back to the city? Well, that would create a big problem, since there would be no place to put them. Many cities hit their peak population in 1950, when the US total was 150 million. Today it is over 300 million, with virtually all the growth taking place in the suburbs. read more »
In the third of a three part New Geography series on Pittsburgh for the G-20 summit, Aaron Renn assesses Pittsburgh’s value as a model region for other cities suffering decline.
As the G-20 leaders prepare to convene in Pittsburgh, expect the recent chorus of praise for that city's transformation to reach a crescendo. Pittsburgh, once the poster child for industrial decline and devastation, is now the media darling as an exemplar of how to turn it around. The New York Times talks about how “Pittsburgh Thrives After Casting Steel Aside” while the New York Post informs us that “Summer in Pittsburgh Rocks”. The Economist named Pittsburgh America's most livable city. This emerging reputation for cracking the code on revitalization is prompting struggling burgs like Cleveland and Detroit to ask what lessons the Steel City holds for them. read more »
There's been a torrent of spirited banter lately about the reemergence of downtown central-cities. Much of this raucous debate is between advocates of urban revitalization, who offer an assortment of anti-sprawl messages as justification for this movement, and those who see suburban growth options as essential to quality of life in America. Adding to the fray are environmentalists who see housing density and alternative forms of transportation as the panacea for confronting our carbon-choked world. read more »
"Cleveland’s leadership has no apparent theory of change. Overwhelmingly, the strategy is now driven by individual projects. These projects, pushed by the real estate interests that dominate the board of the Greater Cleveland Partnership, confuse real estate development with economic development. This leads to the 'Big Thing Theory' of economic development: Prosperity results from building one more big thing." read more »
An article in the London Daily Telegraph suggesting that President Obama might back a major program of bulldozing parts of cities in the Rust Belt has put so-called “shrinking cities” back in the spotlight. Many cities around the country, especially in the Rust Belt have experienced major population loss in their urban cores which has sometimes spilled into their entire metro area. They have thousands of abandoned homes, decayed infrastructure, environmental challenges, and no growth to justify a belief that many districts will ever be repopulated. read more »