Business Facilities has introduced a new annual series of Economic Development Awards to honor the agencies and organizations that have established and consistently executed the best practices in our industry, bringing measurable success in targeted economic development to the locations they represent.
We have created more than a dozen new awards categories, including overall economic development excellence awards, best practices awards that cite achievements in specialized programs like workforce training and incentives, and awards for marketing excellence in the use of new media (including social networks and video).
The finalists for our new overall Economic Development Excellence awards were asked to prepare a detailed submission that summarized the most productive project development in their locations and gave our judges an overview of the economic development strategy they have deployed to ensure sustained long-term growth. The information provided to the judges included the top projects (initiated since the beginning of 2011), in terms of capital investment and job creation. These projects included new facilities, expansions, relocations or corporate headquarters.
In their strategic narratives, finalists identified the growth sectors they are targeting and described the specialized tools being deployed to achieve growth in these sectors. We encouraged them to specify their approach to workforce training, specialized incentives and the support they provide to the development of start-ups, small businesses and other entrepreneurial initiatives. Our judges assessed the diversity and scope of the agency