As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. Learn more about membership...
Exploring Challenges, Strategies for Achieving Greater Efficiency in State Agencies
Governors and policymakers working toward economic development reform are in a unique position to propose critical changes that would not have been feasible in the past and gain broad support for transforming economic development agencies to better meet the needs of businesses, according to a new white paper from the National Governors Association (NGA). NGA has identified three major challenges states are facing and three foundational strategies to increase effectiveness of state economic development agencies.
Challenges include the rise of global competition, structural inefficiencies in state economic development agencies and strained budgets for years to come. Alongside these challenges, state commerce departments are not designed well for the young and fast-growing businesses that are fueling most of the new job growth, NGA finds. Collaboration, private sector involvement and instituting a qualitative evaluation system are noted as promising strategies for increasing effectiveness of economic development agencies. Read the paper...
This is where the paths of conventional economic development and TBED are becoming increasingly intertwined with tremendous opportunity for strong leadership combined with excellent strategy to increase coordination and efficiency and streamline programs to achieve greater impacts.
SSTI's Annual Conference offers two sessions expanding on this topic with discussion and tactics to help your organization refocus on the new fundamentals of supporting regional innovation and technology.
- During The Convergence of TBED and Conventional Economic Development, participants can expect a lively discussion with practitioners involved in two states' recent experiences with convergence.
- Leaders from three organizations representing the state, local and federal level will talk about their work to reflect the changing economy and the needs of their clients in Re-Orienting Your Organization for Today's Economy.