Last month, John Karras attended the International Economic Development Council (IEDC) 2023 Leadership Summit in Tucson, Arizona. In addition to spending time with former clients, new clients, and colleagues from across North America, he took away some observations which he shares in his latest post.
Cluster & targeting analysis
Cluster strategies are top of mind as a way to strengthen the competitive advantages of a region. An examination of the business-led approach used by the Central Indiana Corporate Partnership (CICP) for more than two decades reveals the keys to CICP’s success. A holistic and collaborative approach to ecosystem building can lay the foundation for sustainable long-term economic growth.
Recognizing the need to more rapidly modernize its forces, the US Army established the Army Futures Command (AFC) in July 2018. AFC represents the most significant reorganization within the Army in almost 50 years. The Army knew that in order to maintain military superiority, it had to transform the way it develops and adopts new technology.
Jon Roberts was invited to give the keynote address at the International Economic Development Council’s 2018 Leadership Summit held in Las Vegas (January 28-30). The topic was “disruption” with observations on Amazon’s site selection process provided by Gene DePrez.
The major theme for the US defense sector in 2018 continues to be uncertainty. Congress remains under immense pressure to raise defense spending due to ongoing military operations, decreased readiness, and aging weapons systems. However, addressing these challenges will require Congress to pass a budget that removes the spending caps mandated by Budget Control Act of 2011, which Washington currently seems unable to accomplish.
Since 2006, TIP has been working in communities, regions, and states that are home to military installations and defense contractors. TIP is partnering with management consulting firm Kepner-Tregoe for our current defense industry adjustment project, which builds on the success of three previous OEA-funded pilot projects in Washington State.
To help capitalize on its unique advantages, Kern County engaged TIP to lead the preparation of an economic diversification plan for East Kern County. Over the course of a 12-month planning process, TIP worked with Kern County and key partner organizations including the Kern Economic Development Corporation (EDC) and the East Kern Economic Alliance (EKEA) to create a bold and comprehensive set of strategies to accelerate economic development in East Kern.
TIP recently completed an engagement for MassDevelopment, the Commonwealth of Massachusetts’s economic development and finance agency, to develop a Defense Industry Economic Diversification Study and Strategic Blueprint.
In 2015, TIP Strategies was selected by the Washington Department of Commerce as the lead contractor for multiple phases of the state’s $4.3 million US Department of Defense, Office of Economic Adjustment (OEA) grant. The statewide strategy and sustainability plan will provide a comprehensive blueprint for military and defense contractors and related support organizations to anticipate and mitigate potential losses through effective planning and strategic decision-making.
In 2015, EMCOG tasked TIP with exploring potential areas of focus for a CoE with the goal of identifying a concept that could serve as a catalyst for job growth and investment while supporting the success of existing companies.