In the realm of economic development, our state faces challenges on multiple fronts. While we grapple with infrastructure, education, and crime issues, there’s a critical aspect that often goes unnoticed: the structure of our economic development department. Joining the show today to discuss the issue is Jasen DeCuir.
The recent spotlight on Virginia provides valuable insights. Stephen Moray, our former LED Secretary, departed for Virginia, where they’ve adopted a more flexible, less bureaucratic approach. Their quasi-public setup allowed them to attract numerous companies and achieve significant wins. We must take a closer look at what other states are doing differently.
The crux lies in streamlining bureaucracy. Our LED staff needs greater flexibility to recruit and attract private investment. By reevaluating our structure, we can allocate more resources to the agency, empowering them to perform their crucial role. While our challenges mirror those faced by other states, it’s at the micro level—the nitty-gritty of business recruitment—that we find stagnation. Restructuring is the catalyst we need. Just as we revamped the Workforce Commission, transforming it from the Department of Labor, we must now turn our attention to LED. It’s time to enhance our competitiveness, foster innovation, and pave the way for economic growth.