How about this? We'll pay you to move here. . .
In the world of forecasting, how do you measure the impact of a new corporate headquarters relocating to your city? Major metros are locking their big thinkers in rooms until they come up with a plan for how to woo Amazon, while others are taking aim at smaller companies with big dreams and big funding. That's a long term decision, right?
What strikes me about these discussions is not only the power of big corporations, but the power of big cities. In the past, cities grew from natural resources like a confluence of rivers, abundant farmland, or naturally deep seaports. In the last century, the definition of natural resources expanded to include manmade concepts like legalized gambling in Vegas or clustered expertise like the Silicon Valley or Shenzhen in China. In the future, will cities simply manufacture their own "natural resources?"
Among the rumored offers for the new Amazon HQ is one from Newark, NJ that offers up to $7BN in tax credits and one from Chicago that lets the giant company keep $1.32BN in income taxes collected from workers. Let those numbers sink in for a minute and think about the power of big cities. This summer, a friend who recruits for an industrial manufacturer in Milwaukee lamented Racine, Wisconsin's deal to lure Foxconn and its thousands of jobs. She said her people would commute at first, then move to Racine and her cost of business will increase as a result.
The power of cities.
To those of you who lead your communities, expand the definition of your area's natural resources to include resources that can be manufactured. That may include everyone in your community acting like a economic development representative. Maybe my next book will end up being The Human Being's Guide to Growing Your Metro Area.
|