January 31, 2019
The corporate name of my company is YellowSocks. It's a tribute to my father, who loved bright yellow and was never shy about wearing yellow socks to any event....the most formal corporate event or the most casual lakeside relaxation....Dad wore yellow socks. It was just fundamental to him.
What does this have to do with economic development, you ask? It's that word: FUNDAMENTAL. The most basic strategy, and often overlooked for its perceived lack of innovation or the "cool" factor, is Business Retention & Expansion. Fundamental. It is the foundation to all other strategies.....grow your own.....business attraction.....workforce development.....creating a sense of place.....innovation. For any locality, the root of success starts with those business clients you already have. Make business retention & expansion your signature "yellowsocks" program and economic success will follow.
Check out a couple of great examples:
Making it work every day:
Powhatan County - https://www.richmond.com/news/local/central-virginia/powhatan/powhatan-today/program-aims-to-help-existing-powhatan-county-businesses/article_1f7892be-248f-11e9-95a1-abaeafbfaf27.html
Tools and Resources:
Executive Pulse - https://www.executivepulse.com/
Wishing you YellowSocks success!