As first published in Blandin Foundation eNews…

I am often surprised at how few economic developers see the link between technology and economic development. Likewise, I am surprised at the lack of engagement by telecom providers with the economic development community.

Broadband networks and technology adoption are at the heart of almost every core component of economic development strategy. Economic developers need to ask themselves some questions about broadband availability and use in their communities. Some examples:

• Data centers – Attracting a data center is a great economic development score, providing tax base with few needs for municipal services.

• If your community is not well positioned to attract a data center, does it means that your broadband network has shortcomings?

• Entrepreneurial development – Many entrepreneurs use broadband technology as a critical component of their business. Entrepreneurs are great for adding vitality to underutilized properties in downtown areas. Technology can substitute for labor or provide virtual connections to support services as start-ups seek to minimize expenses.

• Can entrepreneurs find affordable space with adequate broadband services in your community?
• Do you have an established network of business support services, including networks, web development and other tech services?

• Business retention and expansion – Many factors keep businesses from growing and thriving, including the lack of understanding of how technology can increase productivity and improve marketing and sales.
  • What are the technology deficits in your community that are hampering company growth?
  • Broadband connectivity availability or cost? Lack of tech support? Lack of tech strategy?

Economic developers need to increase their understanding about how well their communities are positioned to compete for new businesses and support existing businesses in a world where connectivity and technological sophistication are growing in importance every day. Providers need to recognize how important their operations are to supporting the economic vitality of the communities that they serve. Let’s come together to make it happen!