A Neighboring View on Economic Development Co-op-etition

Posted Date: 
November 12, 2010

On Nov. 12, MCCC Economic Development Committee Vice Chair Bill Robertson of Adventist HealthCare, and Co-Chair Stew Edelstein of The Universities at Shady Grove, hosted guest speakers Cathy Riley, Vice President of the Fairfax County Economic Development Authority, and Dick Story, Director of the Howard County Economic Development Authority.  Each guest speaker presented their organization's approach to economic development. 
 

Key elements of successful economic development include: a county's commitment to long term economic development to ensure support for public services; the metric of net additional job growth; staff compensation at all levels tied to achieving net additional job growth; and stable, long term leadership that is comprised of economic development professionals, not subject to short-term political appointments.

Story told the group he likes to use the term "co-op-etition" to describe the healthy competition between jurisdictions for jobs and businesses, but stressed the importance of the various jurisdictions working together to strengthen the entire region's economy.

MCCC Strategic Partners