Industry Featured Articles

By Alexandra Tranmer, Economic Development Specialist of Camoin Associates

Introduction
Biotechnology is a dynamic industry that spans multiple sectors, weaving its way through many aspects of our lives. This month, Jim Damicis and Alex Tranmer of Camoin Associates explore the human health subsectors of the Biotechnology industry and show how this competitive and fast-changing field can drive innovation-led economic development in communities and regions throughout the U.S. The Biotechnology industry in the U.S. generated $111.2 billion in annual revenue in 2015 with growth projected for the upcoming four years. One of the greatest factors in the future of the industry is its relationship to the U.S. health care system, which has recently undergone notable changes due to the passing of the Affordable Care Act in 2012, producing ripple effects throughout the Biotechnology field. Read on to learn more about current trends in different subsectors, emerging markets, and how economic developers can incorporate Biotechnology into their work.

Defining Biotechnology
How do we define biotechnology in terms of the economy?
Biotechnology industries cover a wide array of activities, ranging from biofuel production to medical device manufacturing. Battelle, a leading science and technology development institute, acknowledges that defining the Biotechnology field is difficult due to the breadth of subjects that it covers.

By Tim Shea, General Manager of Product Development and Angelos Angelou, Principal Executive Officer, Chief Strategist, Angelou Economics

New Brighton, Minnesota. It’s the quintessential Middle American town, cold in the winter, humid in the summer. The people are friendly year round. Children play in the creek running through the neighborhood park, and the Dairy Queen across the street is ready to make them Blizzards when they’re done. A few miles down the road, though, is something rarely seen in America, at least not anymore: a factory.

A medical device factory, to be exact, Donatelle Medical. In operation since 1967, Donatelle is a staple of both the Minneapolis suburb and the healthcare industry alike. Cochlear implants, pacemakers, medication pumps, they make it all. They also employ hundreds of workers and inject millions of dollars into the local economy every year.

By Kurt Nagle, President and CEO, American Association of Port Authorities

Most economists and politicians agree: infrastructure investments, particularly in transportation, benefit the economy, boost jobs and aid in business development.

As the primary gateway for overseas trade, U.S. seaports are essential for economic prosperity, and federal funding for transportation infrastructure in and around ports pays enormous dividends for the country. Deep-draft coastal and Great Lakes ports are the nexus of critical goods movement infrastructure that connects America’s exporters with markets overseas. They also provide access for imports of raw materials, components, and consumer goods that are a key part of U.S. manufacturing and standards of living.

Given this, it’s no wonder that infrastructure spending at U.S. ports is on the rise.

Have there been any changes in food processing lately? Yes there has, big time!

Let’s look at my morning so far. After my walk, I prepared some green juice for my wife and me using our Breville juicer, as I do every day that I’m not traveling.

It makes about 12 ounces of delicious green juice that will absorb into your cells and become “life force energy” within about 15 minutes. It makes you feel energized and ready for the day!

I next had a bowl of cereal. I had recently bought some new gluten free multigrain Cheerios and low sugar Grape Nuts. I chose the Grape Nuts today and added some organic raspberries and blackberries followed by organic hemp milk. Delicious and healthy!

I started to think about shopping for these breakfast items. We recently shopped at:

• Costco – they now post many green signs and the signs mean organic items.
• Sprouts – a new lower priced supermarket similar to Whole Foods with a gigantic organics produce section. They started here in Phoenix and are expanding east, now in Nashville and Atlanta.

By Kenneth E. Dobson; Economic Development Administrator; Fulton County, Georgia

The level and rate of economic growth varies evenly throughout most urbanregional jurisdictions. There are areas of accelerated fiscal revenue growth, moderate growth, stagnant growth and low to no growth. While each geographic area may produce different levels of economic output to the local tax base, they all, nevertheless, require certain acceptable levels of fiscal revenue to support delivery of essential services. These essential services include police, fire, library, parks and recreation and other forms of public, human and social services.

The jurisdictions with the highest economic development competitiveness and growth performance are usually those that have specific, carefully crafted policies, programs and resource allocations to address the business, jobs and quality of life needs and opportunities within each of these areas.  Such specific geographic sector strategies are capable of facilitating increased economic opportunities, all while also generating increased and sustainable revenue growth to meet future tax base growth requirements that will be driven by a highly-demanding 21st century marketplace. The highest levels of performance can most often be achieved when implemented within the context of an overall economic development plan and comprehensive economic development growth strategies.

By Lisa A. Bastian, President, Bastian PR

The ever-expanding call center industry remains a vital piece of the global customer service industry. Contributing to its growth is a greater emphasis on customer satisfaction, new developments in information technology, and overall cost reductions in operating modern facilities.

Of course, the real reason they are so popular is that decades of experience have proven call centers are the hallmark of successful organizations seeking to give customers the highest quality of assistance when needed. Even better news: Whether it's for inbound or outbound calls, these days retaining the services of a call center can be affordable for small businesses as well as the larger multinationals.

However, while the merits of call centers are many, debates are now flaring about whether a firm should outsource part of their customer service jobs overseas or use a domestic provider right here in America.