Economic Development and Trade

A recent report released by the Economic Innovation Group paints a lopsided picture of how the United States has recovered from the Great Recession of 2007-08.  According to the study, job growth and new business formation in the post-recessionary period has been heavily concentrated in roughly 70 counties and almost exclusively clustered in large metropolitan regions. Twenty counties, which account for less than one percent of roughly 3,100 counties in the U.S., were home to half of new business startups between 2010 and 2014. Likewise, half of the new jobs created in the same time period were located in only 73 counties.

The 6th Annual CSG Transportation Leaders Policy Academy in Washington, D.C. wrapped up on May 20 with a panel discussion on transit-oriented development and building communities. Panelists included Marco Li Mandri, the President of California-based New City America, a company that works on business district revitalization efforts around the country; Angela Fox, the president and CEO of the Crystal City, Virginia Business Improvement District; and Michael Stevens, president of the Capitol Riverfront Business Improvement District in Washington, which was the home base for this year’s policy academy. They discussed the evolving responsibilities of state legislation-enabled business improvement districts in managing neighborhoods around transit hubs and the roles played by retail, restaurants, residential, office space, parks, sports facilities and transit in ensuring their success. This page includes extended excerpts of their remarks from the panel discussion, links to PowerPoint presentations and related reading and photos from both the panel and a subsequent tour of the Capitol Riverfront BID.

Ed Mortimer is executive director of transportation infrastructure at the U.S. Chamber of Commerce and leads the Americans for Transportation Mobility, or ATM, Coalition as its executive director. He was among the presenters at a policy roundtable CSG hosted on May 19 as part of the 6th Annual CSG Transportation Leaders Policy Academy in Washington. He spoke about the importance of infrastructure to the business community, the importance of Congress seeing progress on transportation projects under the FAST Act, the importance of maintaining existing infrastructure and efforts to consolidate federal transportation programs.

The agenda and materials from the 2016 SIDO Washington Forum 2016 are now available. 

Since 1963, every U.S. president has set aside a week to highlight the importance of small businesses and to recognize their accomplishments through innovation and growth. This year was no different. On April 29, President Barack Obama declared May 1-7 as National Small Business Week, an annual event organized by the U.S. Small Business Administration, or SBA

State economic development organizations and U.S. companies were on full display last month at the Hannover Messe Industrial Trade Fair. As the world’s largest industrial technology trade fair, held annually just outside Hannover, Germany, Hannover Messe is an international meet-and-greet of sorts, providing U.S. companies and state international trade organizations the opportunity to meet prospective foreign investors and export partners from around the world.

According to the Organization for International Investment (OFII), foreign direct investment in the United States totaled $2.9 trillion through 2014 on a historical-cost basis (cumulative investment). In 2008, investment reached a 10-year peak at $310 billion. In 2009, the global economic recession led to significant reductions in U.S. investment, falling by more than half the previous year’s levels. In 2014, foreign companies invested $112 billion in the U.S. – the weakest year in a decade. However, based on preliminary data for the first three quarters of 2015, OFII suggests that foreign direct investment in the U.S. may make a comeback, possibly breaking records by exceeding $300 billion. 

International trade directors from more than 35 states participated in meetings and discussions with federal officials, foreign dignitaries and other partners at the State International Development Organizations’, or SIDO’s, Washington Forum in Washington, D.C., the first week of April. SIDO members met with federal officials to discuss implementation of two recent legislative actions, namely the passage of the Small Business Trade Enhancement Act of 2015, or the State Trade Coordination Act, and the reauthorization of the State Trade and Export Promotions, or STEP, program.

The U.S. Economic Development Administration will hold a series of informational webinars for prospective applicants to the agency’s $15 million Regional Innovation Strategies Program competition.

Prior to 1996, the minimum wage was rarely an issue addressed on state ballots. Since 1996 however, the minimum wage has increasingly appeared on state ballots, and could appear on the ballot in a record 11 states in 2016. The first time the minimum wage appeared on a state ballot was in 1912 in Ohio.

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