Managing Economic Development Organizations: Training Manual
Managing Economic Development Organizations: Training Manual
Successful economic development organizations (EDOs) are now increasingly entrepreneurial, achieving more with less funding, promoting economic development on broader scales geographically, and collaborating creatively within and among organizations. EDOs have become more global in their competition by market-based necessity and they are under more pressure to improve their communities and diversify their local economies. EDOs need to define themselves in entirely new ways and develop new and creative ways of increasing funding and efficiency. This need to innovate new approaches to economic development has been further fueled by large state and local government deficits. The capacity for economic development funding and programmatic development is strained to the limits at a time when communities’ need for economic development activities is increasing. Issues such as globalization, outsourcing, increased competition for firms and labor in newly emerging business sectors, and the decline of many traditional business sectors have placed enormous pressure on the economic health of U.S. communities.

This manual has been designed to ensure you are apprised of these changes as well as to provide you with the practical skills to manage an economic development organization. This manual will help you:

- Determine and concretely define the purpose and role of your organization;
- Understand the difference between EDOs in the public and private sectors and how they operate;
- Manage economic development staff and develop appropriate personnel policies and evaluation systems;
- Monitor and evaluate your organization’s successes and how to use that information and data to better fund your organization’s activities;
- Understand the new technology requirements to bring an EDO up to expected capacity;
- How to work in collaborations and partnerships with various stakeholders, other organizations, and the government at all levels;
- How to understand effective Board/Council relationship building mechanisms;
- Incorporate performance measurements to prove effectiveness;
- Become a leader in economic development.
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