Develop This: Economic and Community Development

Summary

In this episode of the Develop This Podcast, Dennis Fraise speaks with Bethany Quinn, president of Golden Shovel Agency, about the importance of economic development in rural America. They discuss the agency's mission, the launch of the Rural America campaign, and key findings from a recent white paper on marketing strategies for rural communities. Bethany emphasizes the need for effective marketing strategies, social media's role, and storytelling's importance in economic development. They also touch on the significance of adequate funding and introduce the new Impact Local website product designed for rural communities.

Takeaways

• Golden Shovel Agency supports economic development in rural areas.
• The Rural America campaign aims to provide affordable solutions for small communities.
• Many economic development organizations lack a cohesive marketing strategy.
• A robust website is essential for effective marketing efforts.
• Social media consistency is crucial for community engagement.
• Economic development is evolving to include community development aspects.
• Measuring marketing success goes beyond website traffic.
• Adequate funding is vital for long-term marketing strategies.
• The Impact Local product offers affordable website solutions for rural communities.
• Storytelling is key to conveying a community's unique value proposition.

In this episode of the Develop This Podcast, Dennis Fraise interviews Ryan Monarch Assistant Professor, Economics Department Syracuse University, an expert in international trade and economics, to discuss the complexities of tariffs and their implications on the economy. The conversation covers the definition of tariffs, their historical context, their role in modern trade, and the economic and consumer impacts. Ryan explains how tariffs can affect supply chains, consumer choices, and the overall market dynamics while also addressing the political motivations behind tariff implementation. The discussion highlights the challenges and uncertainties businesses face in a fluctuating tariff environment and the long-term effects of such policies on the economy.

Takeaways

• A tariff is an increase in the price of imported goods.
• Tariffs have been a source of government revenue since the founding of the US.
• President McKinley was known for his pro-tariff stance.
• Tariffs are used to protect domestic industries from foreign competition.
• The scale of tariffs under President Trump is unprecedented in modern history.
• Higher tariffs can lead to increased prices for consumers.
• Tariffs can disrupt established supply chains and consumer choices.
• The burden of tariffs often falls on US importers, not foreign producers.
• Economists generally believe that tariffs create more losers than winners.
• The long-term effects of tariffs on the economy can take years to understand fully.

Learn. Explore. Activate in Place. (LEAP) | Cleveland, Ohio | June 9–13, 2025

LEAP into innovative economic strategies on an in-person learning trip!

NGIN will select teams, each consisting of 2-4 economic and community leaders from cities with populations between 50,000 and 500,000, to explore Community Wealth Building and Inclusive Capital in Cleveland, OH. In addition, participants will have the opportunity to create their own action plan to bring back to their city.

Selected participants will have all travel expenses covered for this immersive learning experience. NGIN will also handle all trip logistics.

Ryan Monarch researches buyer-supplier relationships in international trade and how the recent tariff war affected U.S. exports and supply chains. He served as a Principal Economist for the International Finance division of the Board of Governors of the Federal Reserve from 2014-2021. His work has been published in the Review of Economics and Statistics, the Journal of International Economics and other publications. His research has been cited by The Wall Street Journal, The New York Times, Bloomberg, The Economist and Reuters, among others. He received a Ph.D. in economics from the University of Michigan in 2014.

In this episode of Develop This, Dennis Fraise and Mark Perna discuss the importance of building one's dreams at any stage of life. They explore the distinction between interest and passion, emphasizing that while interest can be easily found, passion is cultivated over time through resilience and commitment. The conversation also highlights the significance of engagement and self-motivation in creating a competitive advantage in both personal and professional realms. Mark shares his philosophy of embracing discomfort and daring to dream, encouraging listeners to take actionable steps toward their goals.

Competitive Advantage Track

Takeaways

• You're either building your dream or someone else's.
• Life really begins when you carve out time for yourself.
• Interest is something you can trip over; passion is built over time.
• Show up five minutes early, stay five minutes late, and care.
• Be so good they can't ignore you.
• Dare to dream and embrace discomfort.
• You have all the time that there is; it's how you use it that matters.
• To stand out, do what others won't do.
• Say yes, and then figure out how.
• Inspiring young people is critically important for economic development.

In this episode of Develop This, Dennis Fraise speaks with Doug Van Dyke, CEO of Leadership Simplified, about the intricacies of economic development organizations (EDCs). They discuss the role of EDCs, the pros and cons of regionalization, the challenges of collaboration, and the relationship between EDCs and chambers of commerce. Doug shares insights on strategic planning, executive coaching, and the importance of having a neutral party in discussions about regionalism. The conversation highlights the need for collaboration and the potential benefits of working together to enhance economic development efforts.

Takeaways

• EDCs often require strategic planning, executive coaching, and team development.
• Regionalization can enhance collaboration but may also lead to competition among EDCs.
• Silos and ego can hinder effective regional collaboration.
• A neutral party can facilitate discussions and help align goals.
• Mission creep can occur when EDCs and chambers of commerce have differing focuses.
• Successful regional collaboration can lead to greater economic opportunities.
• EDCs should consider regionalization when scale can be advantageous.
• The relationship between EDCs and chambers of commerce can vary based on community needs.
• Effective communication and collaboration are essential for EDC's success.
• Leadership Simplified offers training and strategic planning services for EDCs.

In this episode of Develop This, Dennis Fraise speaks with Bill Murphy, the president and CEO of the Ardmore Development Authority, about the significant impact of Michelin's closure of its tire manufacturing facility in Ardmore, Oklahoma. They discuss the initial shock of the announcement, the community's reaction, and the steps taken to manage the transition for the affected workforce. Bill shares insights on the importance of maintaining strong relationships with local businesses, the need for economic diversification, and the lessons learned from navigating such a challenging situation.

Takeaways

• The Ardmore Development Authority is a public trust responsible for local economic development.
• Michelin's closure of its facility was a significant blow to the local economy, affecting 1,400 jobs.
• The announcement of the closure was unexpected and blindsided local leaders.
• Strong relationships with companies can help in managing crises effectively.
• The community's reaction to the closure was one of shock and disbelief.
• A transition task force was created to address the impact of the closure.
• Diversifying the local economy is crucial to mitigate the effects of losing a major employer.
• Maintaining open communication with stakeholders is essential during crises.
• The company provided significant support and incentives to retain employees during the transition.

In this episode of the Develop This podcast, Dennis Fraise and Betsey Suchanic explore strategies for ensuring that economic development reaches every corner of a community. They discuss the various programs offered by the New Growth Innovation Network (NGIN), including the LEAP program, which is an all-expense paid professional development experience for economic and community leaders from smaller cities (up to 500,000) to learn from other small and midsized cities that are paving the way through collaboration and innovation. Applications for LEAP are open now and close March 10, 2025. Apply now at newgrowth.org/leap!

They also talk about NGIN's Economic Inclusion Incubator, which provides technical assistance for project implementation; and the Cityscapes Summit, NGIN's biennial national gathering for city leaders. The conversation emphasizes the need for cross-sector collaboration and the significance of building relationships in economic development.

Takeaways

• LEAP stands for Learn, Explore, Activate in Place.
• The LEAP program helps cities learn from each other.
• Cross-sector collaboration is crucial for economic development.
• The Economic Inclusion Incubator supports project implementation.
• Cityscape Summit gathers leaders from small and mid-sized cities.
• Building relationships is key in economic development.
• The LEAP program is an entry point for cities.
• The Economic Inclusion Incubator offers 12 months of support.

In this Develop This episode, Dennis Fraise speaks with Betsey Suchanic from New Growth Innovation Network (NGIN) about how Small and Midsized Cities (SMCs) are key players in driving economic growth. They discuss how these cities are uniquely positioned to innovate and implement effective economic strategies, the significance of cross-sector partnerships, the need for new metrics in economic development, and the role of procurement and access to capital in fostering economic opportunity for all. Betsey shares insights on NGIN's various programs and initiatives, including the LEAP program— an immersive learning trip for economic and community leaders from smaller cities (up to 500,000 residents).

Applications are open now until March 10th at newgrowth.org/leap.

Takeaways

• Small and mid-sized cities are often overlooked in economic discussions.
• These cities can innovate and pivot more easily than larger ones.
• Cross-sector partnerships are essential for effective economic development.
• Traditional metrics in economic development need to evolve.
• Inclusive procurement can significantly impact local economies.
• Access to capital is crucial for supporting small businesses.
• Community engagement is vital for successful economic initiatives.
• Learning from other cities can inspire new ideas and solutions.
• Breaking down silos can enhance collaboration and effectiveness.
• Programs like LEAP and the Economic Inclusion Incubator provide valuable support.

In this episode of the Develop This Podcast, Dennis Fraise interviews Courtney Dunbar, who leads Burns and McDonnell's site selection consulting practice. They discuss the essential characteristics of a good industrial site, the challenges communities face in site preparation, and the importance of understanding target industries. Courtney emphasizes the need for diligence in site preparation, the value of certified sites, and the role of master planning in optimizing site functionality. The conversation also touches on effective marketing strategies for sites, the significance of building relationships within the site selection community, and the impact of FAM tours. Courtney concludes with advice for economic developers on sharpening their business cases to attract suitable industries.

Takeaways

• A good industrial site must optimize operations.
• Communities often seek a model of perfection in site preparation.
• Diligence in understanding site attributes is crucial.
• Smaller communities can compete with larger ones based on specific advantages.
• Identifying target industries is essential for effective economic development.
• Certified sites can streamline the site selection process.
• Master planning focuses on functional optimization rather than aesthetic layout.
• Building relationships in the site selection community is vital.
• FAM tours should prioritize meaningful interactions over packed schedules.
• Economic developers must create a strong business case for attracting industries.

Dennis Pruitt Vice President Business Development for the Missouri Partnership joins Dennis and makes the case for liberal arts in economic development. Dennis stresses the importance of reading, history, and culture. In a day and age dominated by STEM don't miss this discussion on the value and power of a liberal arts degree.

Barry Matherly joins Dennis, and they discuss the skills needed to be a great leader and how to become involved and give back to the economic development profession.

Barry has worn a lot of hats in his economic development career. His current role is as the President and CEO of Hickey Global. Prior to joining Hickey Global, Barry was the President and CEO of the Detroit Regional Partnership and the Greater Richmond Partnership.

• You have led large organizations in very different communities. How were those positions and communities different?
• How were you able to adapt your skills to lead large teams and provide economic development leadership for the community?
• Along the way, you were also the Chair of IEDC and the Dean of OUEDI.
• What made you want to get involved in IEDC? Talk about your journey at IEDC, culminating in becoming the board chair.
• Why was certification important to you?
• What advice do you have for IEDC members who want to get more involved?
• Talk about OUEDI, its impact, and the education it provides.

Barry Matherly has helped communities prosper by creating opportunities for new investment and job growth for over 30 years. As a certified economic development professional and trusted international thought leader, he develops growth strategies to create vibrant, inclusive communities.

Barry leads Hickey Global, a part of the Hickey Family of advisory companies, utilizing its immense capabilities across a global footprint. With offices throughout the world and a diverse team of economic development, site selection, research, and marketing staff, Hickey handles innovative and complex assignments.

Mr. Matherly is a past chair of the International Economic Development Council (IEDC), the largest economic development association in the world, and the dean and an instructor at the University of Oklahoma Economic Development Institute. He is also an instructor at UNC-Chapel Hill's Basic Economic Development course.

Over a long career managing economic development organizations, Barry has leadership experience at the city, county, regional and university levels. He also interned 3 years for the United States Department of Commerce and worked 6 years in management for a Fortune 500 company.

Barry has a bachelor's degree from James Madison University and a master's degree from Virginia Tech University. He is also a graduate of the Economic Development Institute at the University of Oklahoma and a recipient of the Robert B. Cassell Leadership Award.

Barry Matherly was named one of the 40 Leaders Under 40 (2002) by the Charlotte Business Journal, recognized as a North Carolina Main Street Champion, designated as a Fellow Member and Honorary Life Member by IEDC and is a Senior Fellow of the American Leadership Forum. He was also inducted into Virginia Tech's School of Public and International Affairs Alumni Hall of Fame.