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Trends in Economic Development – 2013

Jay Moon, Immediate Past-Chair of the International Economic Development Council and current President and CEO of the Mississippi Manufacturers Association, addressed the Mississippi Economic Development Council today on the subject of Trends in Economic Development.  Here are my notes from his remarks:

Global competition will increase;

Attracting capital will be more difficult;

Budget cuts will increase;

Business closures and downsizing will occur at a more rapid pace;

There will be an absolute need to increase efficiency in the business community;

Accountability will be the rule – for everyone;

Natural and man-made disasters will continue to affect economies and businesses;

Energy markets will be shifting; and

There will be multiple labor market and workforce challenges.