C The New Economy Thriving amidst Change

ommunities increasingly see their economic development goal as one of attracting job-generating industrial development and face the need to develop a plan that will achieve this goal. Communities need to know a great deal to succeed at what has become a for-midable task, and many have few resources to hire experienced planners to assist them. This chapter is intended to provide information to communities and others that may be embarking on just such planning. The consulting we have undertaken around the country has shown us firsthand the rapid changes that are taking place in the economy and how communities will need to be resourceful and creative if they are going to succeed at self-preservation while at the same time attracting new jobs. The “New Economy ” of the twenty-first century is different from the industrial econo-mies of previous decades. Competition, consumer demand, and resource restructuring are all transforming the way business operates in today’s highly competitive market. Emerging technologies, global markets, the changing role of government, and the redirection of public resources are just some of the forces affecting the way industry is transforming the nature of work. These emerging trends are increasingly influencing the way communities engage in in