The New Economic Development – Not All of Us Can Be Hipsters
Pushing well-prepared urban students toward higher-education is one way to establish a home-grown creative class
Economic development used to be a fairly simple affair. States and cities would tout their plans for economic development by rolling out tax incentives, land swaps, trade missions (yes, some cities had trade missions), and efforts to improve the local quality of life (parks, neighborhood security).
These people- and capital-attraction policies can be useful tools for economic development. Increasingly, though, experienced practitioners will tell you that developing local economies is becoming a very complicated business. While attraction policies still have influence, the real base of economic development is inviting and nurturing talented residents who can drive the not-so-new information economy. (Anglin/NJSpotlight)
A lot of kids think that they can make money because they know social media. At some point someone needs to sell a product or a service thatpeople can use.