A June 13 article in the Albuquerque Journal highlights the reliance economic development groups place on attracting outside businesses into a community as a means of growing the local economy. Jami Grindatto, president and CEO of Sandoval Economic Alliance, states “Now, who we’re competing with are all 49 states and the world.”
Ignored is a potentially valuable resource local communities possess that the other 49 states and the rest of world does not; their own local people and businesses. Why not invest in developing those resources rather than chasing faraway prizes? It’s a mind-shift that economic development professionals need to make.