Develop This: Economic and Community Development

How can economic developers build trust with their communities while navigating opposition, misinformation, and increasingly complex development projects? In this episode of Develop This!, Dennis Fraise sits down with Maureen Donohue Krauss to discuss lessons from her 30-year career in economic development and how the profession is evolving. Maureen shares her experiences working with international companies and communities around the world, offering perspective on how global competition, changing expectations, and increased skepticism are shaping economic development today. A major focus of the conversation is community trust. Maureen explains why transparency, early engagement, and consistent communication are becoming essential as communities evaluate controversial projects such as data centers, wind farms, and other major developments. Key Takeaways Trust and transparency are essential to successful economic development Early community involvement can reduce opposition and build support Verifiable data can help address misinformation and community concerns Economic developers must become effective consensus builders Confidentiality and transparency must be carefully balanced Strong relationships should be built before they are needed Community conversations should be proactive rather than reactive Economic developers need to manage multiple priorities and stakeholders Knowing when to walk away from a project can be just as important as pursuing one Key Topics Covered Community opposition to development projects Building trust and transparency International economic development lessons Community engagement and communication Misinformation and data-driven decision-making Balancing confidentiality with transparency Building community consensus The evolving role of economic developers Skills needed for the future Proactive community conversations Developing a social contract for economic development Sound Bites "Trust with your community is new and essential." "Use verifiable data to combat misinformation." "The future of economic development is doing multiple things at once."

What does it take for communities to compete for investment in an increasingly competitive global economy? In this episode of Develop This!, Dennis Fraise talks with foreign direct investment expert Andreas Dressler about how communities can attract and benefit from FDI. Andreas explains why not all foreign investment is equally beneficial and why communities need to understand what they actually want to attract. The conversation explores corporate site selection, investment drivers, and the growing importance of soft factors such as community support, certainty, and quality of life. The discussion also highlights why focus matters, especially for small communities. Andreas shares how communities can develop a clear value proposition, coordinate local stakeholders, prepare for international investors, and reduce uncertainty throughout the site selection process. The episode also covers investor aftercare and why economic development organizations themselves are part of the product they are selling to potential investors. A key takeaway? Communities that understand what they want to attract and create a clear, coordinated strategy can compete more effectively for global investment. Key Takeaways Not all FDI provides the same benefits Soft factors can strongly influence investment decisions Community support and certainty matter to investors Focus helps communities compete more effectively Small communities can compete globally with the right strategy Investor aftercare is essential Economic development organizations are part of the community's value proposition Key Topics Covered Foreign direct investment and global competition Corporate site selection Community support and certainty Economic development strategy Small community FDI attraction Stakeholder alignment Investor aftercare Preparing for international site visits Sound Bites "Not all FDI is equally beneficial." "Soft factors like community support and certainty are crucial." "Communities that understand what they want to attract will win."

What does Ukraine's economy look like in the middle of war, and where are the opportunities for future growth and investment? In this episode of Develop This!, Dennis Fraise sits down with Bruce Talley to explore the current economic landscape of Ukraine and Moldova and what economic development professionals and investors should understand about the region. Bruce shares his extensive experience working across post-Soviet countries and provides insight into the regional differences within Ukraine, the resilience of its people, and the ways communities and businesses are continuing to adapt despite the ongoing war. The conversation examines the sectors showing the greatest resilience and potential, including defense, food processing, agriculture, logistics, and infrastructure. Bruce also discusses the growth of Ukraine's defense industry and drone technology, as well as the role industrial parks can play in supporting future investment. Another major focus is the investment landscape. Bruce explains why timing matters for investors looking at Ukraine and Moldova, highlighting both the challenges created by the war and the strategic advantages available to those willing to take a longer-term view. Bruce also discusses workforce challenges, migration trends, and the potential impact of Ukraine and Moldova's movement toward greater integration with the European Union. He explains how infrastructure development, reconstruction, and investment could reshape the region's economy in the years ahead. The conversation also looks beyond immediate economic development opportunities to consider Ukraine's long-term potential for tourism, improved infrastructure, and quality of life once the country enters a new phase of recovery and growth. A key takeaway? Ukraine's economy is already demonstrating resilience, and understanding the region's challenges, industries, and strategic position could help economic developers and investors recognize opportunities before the next major wave of growth. Key Takeaways Ukraine's economy continues to show resilience despite the war Regional differences play an important role in Ukraine's economic outlook Defense and food processing are emerging as key growth industries Industrial parks and infrastructure will be critical to future investment Workforce shortages and migration remain significant challenges Moldova offers unique opportunities for investors and economic developers Early strategic investment could create advantages during reconstruction EU integration could strengthen long-term economic opportunities Tourism and quality of life could become important parts of Ukraine's future economy Key Topics Covered Ukraine's regional economic differences and resilience The impact of war on Ukraine's economy Investment opportunities in Ukraine and Moldova Defense, agriculture, and food processing Industrial parks and infrastructure development Workforce challenges and migration EU integration and regional positioning Ukraine's reconstruction and future growth Tourism and quality of life Strategic timing for investors Sound Bites "Ukraine's waiting for the war to end, but it's already growing." "Moldova is a fascinating country with a lot of potential." "Defense and food processing will be the key industries."  

What if the best way to become an entrepreneur was to buy an existing business instead of starting one from scratch? In this episode of Develop This!, Dennis Fraise talks with Royce Yudkoff of Harvard Business School about entrepreneurship through acquisition and how aspiring entrepreneurs can find, purchase, and grow established businesses. Royce explains why buying a profitable business can offer a different path to ownership, the importance of due diligence, and the challenges new owners face during their first 90 days. The conversation also explores company culture, long-term holding companies, franchises, and the emotional realities of searching for and running a business. For economic developers, this approach also offers opportunities to support business transitions, preserve local employers, and keep established businesses thriving when their owners are ready to move on. A key takeaway? Business acquisition can create a path to entrepreneurship while helping preserve and grow the small businesses communities depend on. Key Takeaways Buying an established business offers an alternative to starting from scratch. Thorough due diligence helps identify risks before acquisition. Understand whether you're buying a business or simply buying yourself a job. Company culture plays a major role in employee motivation and business growth. The first 90 days require careful planning and leadership. Long-term holding companies and franchises offer different ownership models. Business succession can help preserve local jobs and economic activity. Key Topics Covered Entrepreneurship through acquisition Buying profitable small businesses The role of MBAs in business ownership Due diligence and risk assessment Business culture and employee motivation Challenges during the first 90 days Long-term holding companies and franchises Small business succession and transitions Common reasons small businesses fail Opportunities for aspiring entrepreneurs Sound Bites Suggested sound bites to confirm against the transcript: "Buying a business can be an alternative to starting one from scratch." "Are you buying a job or buying a business?" "The first 90 days can shape the future of a business."

How do you make economic development exciting and understandable for the next generation? In this special episode of Develop This!, Dennis Fraise talks with Mark Perna and Julie Curtin about Community Quest, a graphic novel designed to make economic development more accessible and engaging for young people and adults alike. They share the inspiration behind the book, how complex concepts are transformed into an adventure story, and how illustrations help bring community development to life. The conversation also covers how the graphic novel can be used in classrooms and community outreach, the development of a facilitator's guide, and the importance of involving young people in shaping their communities. A key takeaway? Engaging young people through storytelling today can help build stronger, more informed communities tomorrow. Key Takeaways Make economic development accessible through storytelling. Use illustrations to simplify complex concepts. Introduce community development to students early. Bring the book into classrooms and community events. Use a facilitator's guide to expand its educational impact. Empower young people to become future community builders. Key Topics Covered The story behind Community Quest Launching the graphic novel at the IDC annual conference Turning economic development into an adventure Illustrations and storytelling in education Youth engagement and community building Classroom and community outreach opportunities The facilitator's guide The industry's centennial and the book's release Book access and distribution plans Inspiring the next generation of community builders Sound Bites "This book makes economic development understandable and fun." "Storytelling is a powerful tool to connect dots in co