November 04, 2024

148: High-Touch Economic Development in Indiana with Brock Herr

30 minutes

In this episode of the Econ Dev Show, Dane Carlson talks with Brock Herr, Senior Vice President for Business Development at the Indiana Economic Development Corporation. They discuss the evolution of economic development beyond simple land sales.

He details Indiana's comprehensive approach to business development, including sales enablement, lead generation, site selection, and ongoing business support. Herr emphasizes the importance of high-touch engagement and walking businesses through each step of their journey, highlighting how modern economic development requires a full-experience approach to ensure long-term success.

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Ten Actionable Insights for Economic Developers

Develop a high-touch, full-experience model for business engagement

Focus beyond just selling land - create comprehensive support systems

Build strong introduction networks for new businesses

Maintain detailed knowledge of available sites and inventory

Create strategic approaches for modern site selection needs

Implement business retention and expansion programs

Develop clear online resources while maintaining personal connections

Focus on long-term business success rather than just initial attraction

Create systems to support projects of all sizes, not just large ones

Establish clear communication channels for business support needs

Five Notable Quotes

"Economic development is not an easy game and glad that somebody like you's bringing a little bit of insight to folks that may not have a peek into what we do on a day to day."

"There's more to it than just selling them a piece of land."

"You bring a business into your community, and you want them to succeed."

"Like you'd rather not just be looked at as a sale or a metric."

"Walking them through step by step, introducing them to who they need to be introduced to, opening doors that are closed to them, all those kinds of things."