Industry Featured Articles
Tuesday, September 18 2018
By Greg Jones, Vice-President, FTZC™ (Foreign-Trade Zone Corporation)
In his Magnum Opus commonly known as “The Wealth of Nations,” 18th century Enlightenment philosopher and economist Adam Smith noted, “Every man thus lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what is properly a commercial society.” If one were to update this observation, one might say that every man and woman’s livelihood depends on the exchange or trade of goods, services, and every form of property. Since ancient times, trade in goods has fueled the growth of cities, the construction of roads, ports, and other infrastructure, and indeed, nations and empires. In those days the trade of goods was – literally – a pedestrian affair. Merchants loaded goods and commodities on a beast of burden and hoofed-it to the village, town, or city where the goods would be sold. Today, trade ranges across the globe, with raw materials, parts and components, and finished products being produced, marketed and transported in every country, city, town, and household via multiple modes of transportation: ocean, air, rail, and highway.
As trade has expanded and become more complex, competition has become global. The competition to attract and retain value-added business operations, and thereby reap investment, employment and prosperity is also global in scope.
Tuesday, September 18 2018
By Christa Ouderkirk Franzi, CEcD, Senior Project Manager, Camoin Associates, Inc.
Digital media is arguably the most disruptive industry across the economy. Beyond completely transforming the way we watch movies, play video games, and receive news within just a few years, businesses that do any sort of online marketing are in a constant battle to keep up with the perpetual onslaught of new channels, applications, technology, and tactics to reach targeted audiences.
The digital media industry is just as hard to define as it is to stay on top of. When broken down, ‘digital’ means anything related to using a computer and ‘media’ are the tools used to communicate across space and time such as books, radio, television, etc. While streaming radio over the internet is a form of digital media, the use of computers to communicate allows something that traditional broadcast media does not: interaction across networks. Consumers of digital media engage with content with a simple ‘like’ or ‘share’ to their personal online network, or they can create an online group to identify others interested in the same type of content. All these actions by consumers are a way of communicating preferences back to content producers and providers who use this information to better their offerings and the user experience.
Monday, September 17 2018
By Don Holbrook, Site Location Advisor
Consumer Spending on Outdoor Recreation ($887 Billion) Includes:
A Growing Body of Research Suggests that Investments in Outdoor Recreation Infrastructure and Programming Could Significantly:
Public lands and waters are the outdoor industry’s basic infrastructure, and without them the industry cannot survive. Preserving access is imperative to enhancing the industry’s economic and social impact. Access ensures every American’s ability to get outside where jobs, health and communities grow.
Cities, especially in the West are learning to leverage this for their growth such as Las Vegas, Vail, Seattle, Anchorage, Lake Havasu City, Denver, Colorado Springs, Portland, Casper, Boise, all have tremendous bounty of outdoor lands. They have capitalized on the high growth and affordability of outdoor recreational attraction of visitors to their areas by building out amenities and access and focusing their marketing accordingly.
The primary drivers of the outdoor leisure industry are hunting, hiking, water sport crafts, ATV trail riding, archery, bicycle touring, fishing, bird watching, horseback riding, snowmobiling climbing, skiing, and camping. America finds these outlets for fun affordable and full of adventure, which seems to spark a core passion within the human spirit. They are also for the most part, recession proof, with the exception of RV and towed campers. Even the pricey RV market has seen an increase of over 189 percent in the past two years. While the price of vacationing, especially luxury vacationing as soared, camping remains comparatively far more affordable, even with fuel figured into the equation.
Outdoor recreation is something a majority of Americans embrace in some fashion or another. It crosses every demographic line: age, income, gender, race, political, orientation, nationality and culture.
The growing outdoor recreation economy brings with it more jobs—diverse, high-paying and highly-sought jobs for American workers. As communities invest in the outdoor infrastructure that attracts employers and active workforces, those communities that have this asset are thriving economically and socially again. While the global economy remained tepid and undecided, this segment consistently grows faster than our national economy. Outdoor recreation is a rare symbiotic economy for all stakeholders that a vast majority of Americans and our foreign tourists spend their leisure dollars on when seeking entertainment away from home.
While the recreational leisure economy is a segment of tourism and further sub-segment of destination-based economic development opportunities, it is a far more different approach.
Cities that seek these disposable dollars must emphasize the outdoor and natural features of their locales, while maintaining their advanced use of constant connectivity to the social media grid and providing great access via transportation to such places. Furthermore, the amenities just like ski hills need to be honestly assessed and classified from remote to luxurious choices. Some people will want to rough it, while others will want primitive with a return to luxurious and comfortable by night fall.
Economic development regions with bountiful natural beauty and resources need to invest in their recreational amenities to reap the high growth of this exponentially-expanding sector of the economy. While in the past the marketing of places focused upon living costs and job opportunities, the third focus now needs to be firmly accepted on FUN!
Many regions and communities are collaborating so that they can capitalize on the exponential growth and popularity in outdoor recreation. There are several reasons this is fast becoming a major economic development strategy.
It’s a much more affordable investment, that not only benefits tourists, but also local residents. Some communities such as Goodyear Arizona, Tempe and Buckeye have invested in expanding and connecting their Gila River trails to build economic vitality. Their new trail expansion is bringing extended visits and additional economic opportunity.
The sweet spot can be perfected if regions can link their story to a trail system and also accomplish other necessary improvements, such as possibly flood control and natural waterways. Those that don’t have the amenities can create such features as part of such plans.
The expansion and improvement of heritage trails in the East are also popular in locales such as Johnstown, Pennsylvania, expanding their trails such as the Ghost Town Trail, which saw a spike of tourism growth by 25 percent in just one year.
Locales are quickly discovering that this investment has a multitude of positive windfalls such as a large rising economic tide that pumps much needed outside cash into local businesses, a boon in image and wider appeal to quality of life for Viatour’s and residents.
It’s much easier to promote traditional economic development of the image and quality of life are broadly appealing as an underlying asset.
Bio: Don A. Holbrook is a 25-year veteran economic development site location and incentive consultant. He and his team have worked on projects across North America and around the globe. His focus is primarily on place-based economic development tourism strategies and designing the team and products that communities’ can use to attract such investments. He lives in Las Vegas, Nevada and has written five, best-selling books speaking frequently around the world at professional functions. He has been featured on CBS, NBC, Fox, ABC, PBS television and radio networks, and in LA Times, USA Today, New York Times, Washington Post, FDI (the Economist Group) and many local television, print and radio interviews. He has been one of the North American Judges for FDI Magazine for the past six years on The Best Community Economies for Growth & Investment. He is a former board of director of the International Economic Development Council, and Fellow Member of IEDC, as well as Certified Economic Developer.
(1) Outdoor Industry Association Annual Report 2017
Monday, September 17 2018
By Michael D. White, author and freelance writer
It really isn’t too much of a stretch to say that metal fabrication is a lot like the musical score to a great film—you don’t realize how important it is until it isn’t there.
Close your eyes and imagine Lawrence of Arabia, Dr. Zhivago, Cast Away, Jurassic Park, Saving Private Ryan or The Magnificent Seven without the music that lifts them to the level of masterpiece. Imagine, then, going about your business every day, or at least trying to, without refrigerators, washing machines, thumbtacks, air conditioners, automobiles, wire, bridge spans, locomotives, lap tops, knives and forks, airplanes, nuts and bolts, agricultural machinery, watches, window frames, hand tools, nails, and the humble ‘tin’ cans that contain everything from brake fluid to creme soda. Good luck.
Ubiquitous metal fabricators across the country cut, bend, roll, punch, forge, turn, stamp, cut, shape and form metal–primarily steel and aluminum rods, bars and sheets-for virtually every ancillary industry one can conceive, from manufacturing, construction, aerospace, automotive, architecture, and electronics, to food processing, telecommunications, medical, energy and power generation, just to name a few.
Monday, September 17 2018
By Ed Bolen, President and CEO, National Business Aviation Association (NBAA)
Business aviation is a vital industry throughout the U.S., not only for the companies that utilize its flexibility to compete in the global marketplace, but also for communities that rely upon business aviation as an indispensable lifeline to connect them to the world. For more than 70 years, the National Business Aviation Association (NBAA) has advocated on behalf of these distinct, but closely-related, interests.
The vast majority of companies that rely on business aviation are small and medium-size companies, many of which are located in towns far from America's major metropolitan business centers. These enterprises depend upon business aircraft, operating from community airports, to remain connected and competitive.