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Real Estate Journal — Fall Preview — September 27 - October 10, 2019 — 9C
M id A tlantic
E conomic D evelopment
f ew yea r s ago I shared the top ten reasons why com- By Pamela J. Shupp, AICP, CEcD, GRCA When companies come knocking: Top TEN (make that the top 5) reasons to work with an EDO A
ductions to the local and state approving agencies, boards, municipalities, sup- ply chain, potential custom- ers, and elected officials in a community. We provide (and in some cases can help expedite) permitting at the local and state level. We can also advocate for projects that will have a high prior- ity economic impact in the community. Get us engaged early on in the permitting process – it will most likely be us that you call when the project runs into permitting trouble.
#2 INTERPRETATION: And I don’t mean for foreign lan- guage speakers. LERTA, TIF, KOEZ, KIZ, MTF, BIOS, RCAP, CDBG – in the world of community development, economic development and industrial development we love our alphabet soup. Need some help with these acro- nyms? EDOs know them all. We know them so you don’t have to. #1 RED CARPET TREAT- MENT: Economic developers roll out the red carpet for
business prospects. Compa- nies want to locate in com- munities that want them and exude a business-friendly en- vironment. EDOs can readily set the stage for deal-making conversations with the top business leaders in the com- munity. We also fully under- stand and embrace the impor- tance of confidentiality and maintaining the integrity of the site selection process. We are committed to the highest standards of professionalism and customer service. Above all else, EDOs help you get the deal done.
The Greater Reading Chamber Alliance (GRCA) is home to over 100+ years of economic development, financing, and business at- traction marketing experi- ence. So the next time you are looking for a competitive advantage for you and your clients, look no further, we can provide it. So, when com- panies come knocking….we are here to help you answer. Pamela J. Shupp, AICP, CEcD is executive vice president &COOof Great- er Reading Chamber of Commerce.
mercial and i ndus t r i a l real estate profession- als should work wi th an Econom- ic Develop- me n t O r - ganization
Pamela J. Shupp
(EDO). Recognizing that we are running at an even more accelerated pace in com- mercial and industrial real estate development and we only have so many hours in the day to get deals done, I’ve shortened it to the top five. #5 LOCAL KNOWLEDGE: Economic development Or- ganizations (EDO)s know their communities. We have access to all the local infor- mation that you can’t get from data tools or online. EDOs know who just laid- off skilled workers, who closed, who expanded, who has training programs and dollars. Economic develop- ers are also usually aware of buildings and sites that aren’t on Loopnet, CoStar, or come by way of word of mouth from your peers. We can also provide customized data and information pack- ages on inventory, demo- graphics, wages, and local employers. Better yet, we can tell you how to access our local and regional talent pool. #4 INCENTIVES: Everyone wants them, but not every- body knows how or where to access them. Whether it is workforce training dollars, job creation tax credits, low interest financing, infra- structure, and/or brownfields assistance your local EDO knows where the dollars are. Inmany instances, EDOs are the conduit for federal, state and local financial project support. There may even be soft local incentives includ- ing start-up marketing and new hire assistance, office space, paid accommodations for visiting executives and trainers, membership in Chambers, trade organiza- tions, young professional groups. #3 INTRODUCTIONS: EDOs offer facilitation and intro-
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