State Business Leaders Discuss N.C.'s Future

On March 14th, Milton Jones, Finance Services Executive at Bank of America in Charlotte, delivered a speech at the North Carolina State Chamber of Commerce regarding the past and future of the state's economy. This week, the Raleigh News and Observer published notable excerpts of his remarks. While the speech focused on North Carolina's economy specifically, much of his advice is pertinent to the rest of the South and its role in the changing global economy. Here are a few excerpts from the article.

CHARLOTTE - In the late 1700s, the South Carolina low country was the leading provider of rice to the world, and the wealthiest region in the United States. Globalization of world rice markets in the mid-1800s marked the region's economic decline. Steep tariffs did little to help. Today, South Carolina is building its economy for the future. It is not, however, doing it with rice.

Likewise, in North Carolina our challenge is to transform our business models and industries, using our resources to create a better future, not defend a nostalgic past. We must use our collective energy to determine what our state's core competitive advantages are -- business climate, education, transportation, natural resources or others -- and invest in those advantages to drive economic growth.

We have made progress, but our record is mixed. Our interstate corridors, large cities and college towns are doing well. Rural North Carolina is making slower progress. Newer industries such as biotech, software and finance are growing rapidly. Older industries such as textiles and furniture are searching for new business models that will enable them to thrive in the global economy.

But there is one fast-growing industry we have not focused on with as much energy: environmental sustainability. Climate change -- and the search for new technologies that can mitigate carbon production -- will be a major driver of economic change in the coming decades. Some states have what it will take to lead the investment in new industries, technology, innovation and jobs to improve the global environment. Why not North Carolina?

Government leaders need to encourage economic development and innovation. Educators need to focus on training students for the intellectual, technical and occupational challenges of the global economy. Other organizations, from labor unions to nonprofits, must look to the future as well and resist the temptation to hold onto business models or economic paradigms of the past.

A look at retirees who move to the rural South

A new study of in-migration to the rural South shows positive, mixed and negative impacts, according to a summary by the Southern Growth Policies Board:

Among the key findings of the study were positive impacts, such as an increase in the number and variety of employment opportunities, mixed impacts, such as differences in expectations and values within the community and negative impacts, such as increased traffic congestion.

The 20-page study of Cumberland County, Tenn. by the University of Tennessee’s Institute for Public Service can be found online by clicking here.

Family values from Virginia's First Lady

Virginia's First Lady Anne Holton was in Norfolk this week, talking with young adults in the Commonwealth's foster care system about their experiences. The Virginian Pilot featured the story and quoted Holton:

"We're in listening mode for the next six months," she told the group at the Norfolk Workforce Development Center.

The listening tour is the first phase of a campaign called "For Keeps," focused on improving the lives of teens within the foster system. Holton ultimately plans to incorporate the suggestions and experiences of the young people into strategies for legislative and funding improvement at the state and local level as well as for partening with private organizations, according to the Virginian Pilot and the First Lady's webpage for the For Keeps initiative.

Holton is well-positioned to head up the campaign, having served as a juvenile court judge before stepping down once her husband was elected governor. In addition to being an exceptionally worthwhile initiative, Holton's work with For Keeps represents an appealing model for progressive family values- emphasizing the importance of family to children without falsely constricting the definition of family, and empowering the individuals targeted by social policy.

Debating Public Investments

Debates about what kinds of public investments are best for economic growth dominate the South’s political discourse. In a recent online article, Rob Schofield of NC Policy Watch, a Raleigh-based think tank, teases out the three main schools of thought running those these perennial arguments.

• Passive Trickledown - Schofield characterizes this approach as calls "for policies that would deemphasize public solutions in the expectation (hope?) that the 'genius of the market' would expand an entrepreneurial class, which would, in turn, expand the creation of wealth."
• Active Trickledown - Schofield describes this view as stressing "the idea of empowering and unleashing an entrepreneurial class" and favoring “direct government subsidies as a part of the strategy."
• Grassroots Investment - According to Schofield, this idea wants to use public resources to "alter the landscape on which markets will grow and work their magic.” Furthermore, "human and physical infrastructures are substantially and purposefully enhanced and significant emphasis is given to the promotion of broadly shared and widely distributed prosperity."
  

Schofield then offers examples of how a grassroots investment approach could shape public investments in workforce development activities in order to bring about long-term, sustainable economic growth.

Christian Coalition tries to remain relevant

While critics say the Christian Coalition's influence has waned due to debt and leadership that has split the organization, its leader says the group will influence the 2008 presidential elections. In an interview with the Associated Press, president Roberta Combs outlined how the organization would use the Internet to distribute its voter guides and how its debt wasn't an albatross. An excerpt:

Q: Some say the coalition's influence has dwindled as people like Ralph Reed have run into legal and other problems. Is there a pullback from the religious right in getting involved in Republican politics?

A: I don't think that they're an example of Christians being involved in politics. I think that there's a desire out there as long as you continue to educate people about what's happening, about the issues that affect their family and affect their everyday life. I don't think that these other people are going to stop people from being involved because that's not why they're involved. They're not involved because of a man or an individual. They're involved because of issues that affect them.