In Chapter One, I wrote that “the essence of economic development is creating the conditions where businesses want to invest and where people want to live.” More often than not, public policy is how we achieve these conditions. At GNO, Inc. we are obsessed with public policy—it’s how we drive systemic transformation in business and social conditions, and “change the game” of economic development.
In its simplest form, public policy is “whatever governments choose to do or not to do.” This includes the laws, investments, initiatives, and other actions of local, state, and federal governments. A single new policy potentially affects everyone within the jurisdiction – that is, it is systemically impactful. So, from an efficiency and impact standpoint – positive or negative – public policy is where it’s at.