ECONOMY INTERVIEW
Growing smarter Corporate recruitment and expansion are helping spur diverse growth
J. P. DuBuque President & CEO – St. Petersburg Area Economic Development Corporation What were the EDC’s major 2020 takeaways? We measure ourselves and hold ourselves accountable through the impact that we make on the community. That impact comes through our efforts to recruit new companies to the area and our efforts in assisting both new and existing companies add jobs and grow. Although we’re a young organization — we’re only in our fourth year — 2020 was our best yet. We had some exciting corporate recruitment that we were able to announce, added to valuable corporate expansion. Our organization is built on proactive outreach, so when the pandemic was rampant throughout most of the country, it triggered a sizable change for us as we had to draw back our efforts in direct outreach. We reassessed our strategy and doubled down our focus on our local community, engaging in direct conversations with companies that, from an economic development viewpoint, revolve around our targeted industries as identified in our community economic development strategy – Grow Smarter. These targeted industries are intended to diversify the economy and build on our strengths. Fifty years ago, Florida was defined by two things: tourism and agriculture. That no longer holds true. How has cluster theory played out in Tampa Bay regionThe whole concept of clustering is that when you have businesses that are related, they are able to create some economies of scale with regard to the needs of the business model. Clusters seem to promote both competition and cooperation. A strong cluster allows for easier talent attraction too. It’s also a self-fulfilling prophecy from an economic development standpoint. Cities that have developed dynamic and growing clusters and are known for some sort of industry, are incredibly desirable to nearly every participant in that industry. Even if they’re not going to have their whole
operation there, they must be part of it. That selffulfilling prophecy is where we want to get to. We want to continue to build strong industries. As we continue in our effort to consolidate them, the talent gaps are going to be fewer and it’ll be easier for businesses to be successful. What are the main goals and priorities for the St. Pete EDC? We believe that we have something very special in St. Pete and we want to stand on the top of the mountain and scream from the top of our lungs about just how awesome our city is for businesses. Those businesses that are already here know that to be the case. It’s our job to make sure the rest of the world knows that. We also have to make sure that we tell the story of being the coolest part, the most creative part, the most innovative part of the best region in the country. www.capitalanalyticsassociates.com
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