Mike Malone, partner at Shallotte, N.C.-based economic development firm Economic Leadership, said cities, counties, and states compete to retain and attract residents and businesses. The firm recently worked with the state chamber to help Arkansas become more competitive.
If the amenities, schools, utilities, or business climate aren't what they want, those people and businesses can move away. The competition also includes attracting new residents and businesses. And new residents can help meet businesses' workforce needs.
On Wednesday (Sept. 23), Malone, a Fayetteville resident and native, provided a framework for attracting and retaining residents and businesses during an economic briefing as part of Economic Development Week, hosted by Chamber Fayetteville in partnership with the city of Fayetteville and Startup Junkie. About 30 people, including economic development staff, bankers, and chamber members, attended the event at Olsson in Fayetteville.
Malone said Fayetteville competes with the region "a little bit, but really we're competing with college towns in regions like Northwest Arkansas all over the country." He said the assets and strengths of the region's cities...
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