Solving Challenges Others Cannot Economic Development Policy Trends Christopher D. Lloyd June 18, 2008.

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Presentation transcript:

Solving Challenges Others Cannot Economic Development Policy Trends Christopher D. Lloyd June 18, 2008

McGuireWoods Consulting Public affairs approach to projects Establish long term relationships, not short term gains Largest firm in Virginia, offices in North Carolina, Georgia, DC, Illinois Effective national coverage

McGuireWoods Consulting Economic Development Incentives Update – biweekly newsletter

Presentation Overview Corporate trends Policy trends What should you do?

Corporate Trends Increasing internal competition for capital investment funds Shorter timeframes for corporate decision making Acceleration of project development Devaluation of tax credits

Corporate Trends More attention to long-term project costs (especially property taxes) Increased use of internal training resources Increased use of out-of-town contractors and project managers

Corporate Trends Increased attention to DMBE contracting Workforce diversity Desire flexibility in performance agreements for market fluctuations Increasing importance of infrastructure incentives

Corporate Trends Commitment to environmental stewardship and sustainability Rational and uniform environmental laws Sinking U.S. dollar is spurring corporate investment by foreign companies Focus on energy costs

Policy Trends Shrinking budgets (real and nominal) Increasingly complex incentives – consultant job security Performance based incentives (grants) instead of tax credits “Ombudsman” initiatives

Policy Trends Increasing flexibility in use of training funds/delivery platforms More local incentives At-risk site development and site certification Lowering corporate tax rates

Emerging Issues Energy and environmental policy and politics Impact of BRAC Impact of immigration Rural Areas – the Have Nots Transportation gridlock

What should you do? No two projects are the same, so you cannot predict everything Show hospitality and flexibility Long term partnerships, not golden shovels Educate elected officials about the importance of economic development to tax base and quality of life

THE END Business Expansion Services | Constituency Development | Economic Development | Federal Budgeting and Contracting Advice | Federal Legislative Assistance | Grassroots Contact Program | Issue Advocacy | PAC Consulting | Public Infrastructure Finance | Public- Private Partnerships | Referendum Campaigns | State Government Relations ATLANTA BUCHAREST CHICAGO SPRINGFIELD RALEIGH RICHMOND TYSONS CORNER WASHINGTON, D.C.