Challenge Economic growth in the United States Virgin Islands (“USVI” and “Territory”) suffered due to the 2012 closure of the HOVENSA oil refinery, US Treasury regulations contained in the 2004 Jobs Act, and the ongoing sluggishness in the global economy following the Great Recession. In addition, the Territory faced ongoing […]
Challenge In 2004, the City of Watsonville was faced with a diminishing supply of vacant developable land (less than 2 percent of the total land area). Potential business expansion was further hindered by concerns about the quality of the available workforce, ranging from educational attainment to English language competency. The
Challenge A dramatic rise in energy prices leading up to the Great Recession—with crude oil spiking at more than $140 per barrel in mid-2008—suggested the era of cheap petroleum was coming to an end. Surging prices for fossil fuels, coupled with air quality and national security concerns, contributed to a
Challenge In late 2019, Delaware was enjoying some the lowest unemployment levels in the state’s history. The state’s largest city, Wilmington, boasted a thriving tech sector, built on its strengths in business and financial services, that supported $65 million in wages and 17,000 jobs. Yet despite these favorable economic conditions,
Challenge Traditionally dependent on heavy industry, Racine County sought to foster an environment where technology-based industries could develop and thrive. The county offered many of the elements that defined success under traditional economic development models: close proximity to two major metro areas, a significant manufacturing base comprised of an enviable
Challenge The US Department of Energy’s 300-square-mile Savannah River Site (SRS) has been a key economic driver in South Carolina since the 1950s, making the federal government and its contractors the region’s largest industry sector. Established in 1993, the Savannah River Site Community Reuse Organization (SRSCRO) is charged with facilitating
Challenge In mid-2010 the Austin Technology Incubator (ATI) received a grant from the US Department of Commerce’s Economic Development Administration (EDA) to determine the feasibility of developing wet-lab space for life-sciences companies in Austin. The ATI study was intended to estimate the demand for wet-lab space in Austin, determine best
Challenge Maury County, Tennessee, enjoyed a relatively young housing stock, low rates of violent crime, and a healthy share of residents ages 20 to 39. These attributes, along with its location in the orbit of the Nashville metropolitan area, should have made Maury County a contender for talent attraction and
Challenge Klickitat County’s assets—which include relatively low tax rates, a desirable quality of life, scenic landscapes, and access to a variety of outdoor recreation opportunities—have long drawn people to the area. Portions of the county have become retirement destinations, translating to an above-average share of older residents and lower rates
Challenge Located in southwestern Washington along the Columbia River, Cowlitz County built a manufacturing-based economy from its roots in the timber and shipping industries. Global economic changes accelerated by the Great Recession meant the sectors most suited to the region’s traditional strengths—a strong network of natural resource-based companies supported by
