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Local entrepreneurship will lead the way to job growth
I say it all the time -- if Western New York is going to turn itself around, to really spur a new era of job growth and economic vitality, it's going to take homegrown businesses leading the way. It's not going to happen by trying to recruit out-of-state industries into the region.
Daily Yonder has a post today that backs that supposition. It's about how North Carolina paid Dell a lot of money to locate a facility there, but now Dell is closing. Meanwhile, a locally grown company that got almost no government assistance is adding 600 jobs.
When are we going to halt public expenditures on the "buffalo hunt" for footloose industry and instead focus our resources and efforts on the sector that produces by far most of the jobs -- existing industry and homegrown business?
Note, that the author isn't against the kind of infrastructure development going on at the new agri-business park (though I know some of our conservative readers will take issue with the expenditure). He's talking about tax breaks and outright grants to bring in business.
The scholarly literature on incentives shows that they are a very poor investment of public resources. And, of course, the business sector has become expert at playing off one state against another in something akin to corporate extortion; and who can blame them?
Imagine if the South in general and North Carolina in particular had put all of the money spent on industrial recruitment into education, training and small business support. We would be watching even more Quintiles, Cree, PPD, Southern Seasons, Performance Bicycle and other homegrown entrepreneurial success stories all across North Carolina. And, although there are no silver bullets in economic development, homegrown businesses are more likely to stay put, invest in the local community, provide stable civic leadership and keep the control and wealth local instead of away at some remote corporate headquarters.
I continue to maintain that we need to find some way to spur more entrepreneurship, to encourage people already living and working here to take their great ideas and turn them into businesses. If we do invest (as taxpayers) in job growth (not saying we should, just if we do), it should be in businesses started locally, not in recruitment.
- Howard Owens
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Most entrepreneurs bloom where they're planted.
I don't have at this time any specific agenda in mind to promote local entrepreneurship, but worrying about people moving away is the least of our worries.
On basis do you make this statement: "they would see the green pastures and move away to them for the greater opportunity, as entrepreneurs are prone to do."
Most entrepreneurs bloom where they're planted.
Then you would be the exception to your "bloom where they are planted" theory?
No problem with that, it just made me smile :)
Bud, yes, he is exceptional.
Howard, your mother was right!
Chris, as the mom of several self proclaimed geeks and nerds, I find it quite charming. Someday, though, you might end up owning your own business. Then we'll have to coin a phrase that describes you...maybe a geekkeeper?
In other news, I'll be giving you a call Monday afternoon about that computer.
The YWCA recently concluded a Power Up program that ran seminars, much like you describe, for women either looking to improve their job situation or looking to start their own busines.
Beth, Lorie, Jennifer and I participated as mentors in this program. At the graduation ceremony, I couldn't help but think that there are people who could 'partner' with those about ready to take the leap into their own businesses.
Has an interesting ring to it...I like.
"Imagine if the South in general and North Carolina in particular had put all of the money spent on industrial recruitment into education, training and small business support." Now this is an interesting quote. The schools UNC at Chapel Hill, NC State, and Duke university have some of the best business programs in the country for undergraduates. Top employers like Google, Goldman Sachs, Microsoft, Morgan Stanley pay top dollars for students from these schools right out of college, job offer in hand. The town of Cary has the most highly educated people in the country, with the highest percentage of Graduate Degrees and Bachelors Degrees. So I would say they are doing a fine job with education and recruitment.
There are a lot more factors involved than having an idea for a small business. Just ask the repeated revolving businesses in Batavia and the ever changing new small companies that have leased the same places over the years. There are a lot of qualified, highly motivated, educated workers in Western New York but they do need the incentives and lure of big business and quality companies to the area. A great idea for a small business based on a great "idea" is no longer economically feasible, there is a reason why most small business do not last beyond 3 years. Offering incentives to more quality businesses will produce jobs and help grow Western New York.
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March 18, 2010 - 7:30pm - March 20, 2010 - 10:00pm
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March 18, 2010 - 9:35pm - March 19, 2010 - 9:35pm
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March 19, 2010 - 4:30pm - 6:00pm
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March 19, 2010 - 6:00pm - 10:00pm
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March 19, 2010 - 7:00pm - 10:00pm
















Yes imagine. Imagine if the politicians that cut the deal with Dell had invested in themselves and not some speaking point for an election or promise/expectation of campaign financing.
The problem this area would have with educating the youth to be entrepreneurial is that they would see the green pastures and move away to them for the greater opportunity, as entrepreneurs are prone to do. Education needs to be backed by incentives to stay. Easy access to investment capital with little or no interest rate and long term tax breaks need to be included. Then in 20 or so years you may experience the economic and social growth you are looking for.
Few politicians have the spine to push such a long term, expensive and slow growth strategy, fewer sill who are willing to work for a long term goal get elected. Just as few voters are willing to be patient for results in a local economy such as this one.