AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Your company is considering building a new manufacturing facility, but where? Do you expand in your present community, or look elsewhere? Fortunately for you, legions of experts, nationwide, are waiting to help you. And here's the best part: Their advice is free.
These experts work for economic development groups--community and regional organizations, largely nonprofit, that promote the growth of local business. Economic development agencies are proliferating across the United States. In fact, there now are roughly 15,000 development groups nationwide, and the number is growing, according to Ted Levine, president of Development Counsellors International in New York. All 50 states have an economic development agency, as do many cities, counties and towns. Utility companies, banks and industrial realtors also frequently offer an economic development service.
Not surprisingly, these groups vary greatly in size and scope. A small town might employ one part-timer in the back room of city hall, while a large state can retain a staff of 60. But a good economic development agency, either at home or in another community, potentially can save your firm big bucks. They can broker deals with utility companies to lower costs, work with government agencies to reduce red tape, and arrange low-cost loans for you to purchase or lease space. They can team up with local universities and technical schools to groom workers that meet your needs. And many communities offer generous tax rebates to …