The Forcing of High Tech Economic Models on Incorrect Regional Areas

Economic development associations would be wise to not force high Tech economic models in regions where they do not fit. The lot of thought and planning goes into every high Tech firms choice in determining location of their facilities; this is true for executive offices, manufacturing and warehousing, as well as sales and marketing. So often we see economic development associations attempting to recruit high-tech firms with high-paying jobs into their region, which do not make sense.

Of course from the high-tech firms point of view, if you give them enough incentive they will find a way to make it work, but in the end, who does this serve? If the economic development association, a state, the county and/or a city is giving away public monies in tax incentives, infrastructure upgrades or expansion financing special rates then surely it behooves both the company and the government agencies to make sure it is a good fit.For instance a high-tech firm in a new up-and-coming fledgling industry may need specialized labor in that case it will need to have a local university with a proper science departments to recruit from. Additionally it is a manufacturing facility it will definitely need support businesses, supply chain and a strong service sector to function properly and grow. Likewise proper transportation and distribution are also key factors, without these things that cater to the high-tech company it just doesn't make sense.

Even if the company decides to put its roots down in that region, it could be a short lived decision, as the company would not be efficient without the necessary tools to function. I sincerely hope you will consider this in 2006.

."Lance Winslow" - Online Think Tank forum board.

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By: Lance Winslow

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