Last Monday I had the opportunity to attend the Indiana University Kelley School of Business's "Business Outlook Panel" during their luncheon stop in Richmond to provide a forecast of the national, state-wide and local economies for 2006. Sponsored by Bank One (er, Chase Bank) and Richmond Baking and well attended, it was an interesting event all around:
Continue reading "IU Panel's Business Outlook: Charming and Wretched"
Tag: economy
In an editorial today, the Palladium-Item called for Richmond and Wayne County to embrace job growth in the retail and service sectors, as opposed to the manufacturing sector. I generally support their call for an intentional focus on facilitating the kinds of economic growth that Richmond needs, and I was pleasantly surprised to find that they address the difference between the immediate concerns of the unemployed ("if you are without work...there is little reason to scoff at any kind of paying job") and the obligations of those working on economic development to focus on a longer-term vision ("a carefully crafted plan for attracting select retail and services businesses can build upon important quality of life factors locally"). This is a distinction often passed over in our community and many others; the most prevalent calls are usually for bringing in any jobs at all, no matter what the benefits and long-term impact on the community.
Continue reading "Search for more jobs requires driving vision"
Last night I helped to facilitate the "U-Plan" community input sessions that the City of Richmond, Indiana is conducting as a part of its work on updating the City's comprehensive plan. I was struck and impressed, perhaps more than I should have been, by the simple process of people in a community coming together to discuss their concerns, interests, areas of pride about our town, and where we should go in the coming years. I was equally impressed that we were able to use an approach that is very important to me personally - building shared vision through respectful dialogue. I don't know how many other places in the world get to engage in that process on a regular basis - perhaps it's really common - but I feel proud and fortunate to live in a place that can and does.
The forthcoming closing of Richmond's Target store, reported in the Palladium-Item on November 6th, is certainly a troubling development for the local economy. Jobs will be lost, the convenient shopping will need to be found elsewhere, and yet another "big box" piece of real estate will need to be filled.
Continue reading "Big box stores eating big box stores"
This piece was written for submission to the Palladium-Item during my time on the board of Main Street Richmond-Wayne County. It never made its way to the paper, but I thought I'd post it here since it's still relevant.
It still strikes me how little we knew about everything that goes into running a business when we founded the technology company I work for, Summersault, in 1997. We were very confident about the services we wanted to provide and very focused on the clients with whom we wanted to work, but had plenty to learn about accounting, legal matters, hiring employees, and all of the other necessary but complex areas of knowledge one must dive into when doing business.
Continue reading "Business incubation contributes to long-term health of community"