Looking Around the Corner: The Future of Economic Development

The International Economic Development Council (IEDC), the world’s largest independent non-profit membership and research organization devoted exclusively to the field of economic development is pleased to announced the release of its research report, “Looking Around the Corner: The Future of Economic Development.”  The report was produced under the guidance of IEDC’s Economic Development Research Partners (EDRP) program that serves as a think-tank within the organization.

So much of the profession of economic development revolves around forecasting and preparedness. Economic developers consistently analyze demographic and industrial data and run complicated economic models, but these predictions can only go so far. This paper delves into the latest research and trends to provide some conjectures about how they can potentially change the economic development industry in the next ten to fifteen years.

Massive disruptions not directly linked to economic development have the potential to dramatically change the way economic development organizations (EDOs) operate and deliver services. The key influencing trends identified in the paper are:

• Demographics
• Climate Change
• Shifting Global Roles
• Technology Expansion

These trends are summarized in the first portion of the paper, and then their impacts on economic development practice are discussed in the second section. Also included in the report are recommendations for community leaders and economic development practitioners interested in addressing their communities’ competitive position in the future.

The report is available via download to members free of charge and for sale in print to non members at $25.00. Recognized media should contact Erin Way for a free copy of the Executive Summary or full report.