November 13 Election: 2021 Constitutional Amendments

October 5, 2021

Chapter 1 – What is Economic Development, and Why Does it Matter?

Transformative Economic Development: Chapter 1

I didn’t know what economic development was growing up.  But in retrospect, there were signs.  I used to build cities on my floor out of Legos and Lincoln Logs (very easy with no zoning).  I was involved in student government.  In college, I majored in sociology – the study of people, followed by business school – the study of money.  Without knowing it, I was training to be an economic developer.

But when I took the job at GNO, Inc., the economic development agency for Greater New Orleans region, I was still a bit hazy on the concept.  I certainly understood the selling aspect of economic development, and the importance of growing jobs. But, like most people, I thought economic development was mostly about sales.  That was fine.  I loved New Orleans, liked to talk, and enjoyed a ribbon-cutting as much as the next guy.

This incomplete understanding of economic development was fixed forever on a benchmarking trip to Charlotte, one of the fastest-growing cities in the nation.  We were eating lunch on the top floor of a bank headquarters: the food bland, the views  grand.  My host was chairman of the local economic development group. He was proud of his region, widely seen as a good location to both base a company and raise a family, creating a virtuous cycle of jobs and workforce.

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