Current News

Current News

The 'Four P's' of the IEDA

Tuesday, November 03, 2015

A few weeks ago, I was asked to deliver an impromptu speech at a dinner meeting.  Since I didn’t have prepared remarks my thoughts scrambled a bit to find something relevant to say, and what finally popped into my thoughts was the ‘Four P’s of the IEDA.’

The Four P’s that popped into my thoughts was, ‘Promote the Profession, Propel the Professional.’

What I mean by that is that IEDA, as the professional association that serves economic developers in Indiana, has an opportunity and a responsibility to promote economic development as a distinct profession with a definable skill set and a unique body of knowledge.  Qualified economic development professionals need to understand a broad range of subjects that can include real estate development, local government finance, workforce development, marketing and communications, infrastructure and utilities planning, comprehensive planning and zoning, non-profit management, fundraising, and basic business development.

While a local economic development professional can’t be an expert on all of these issues, he or she may need a working knowledge of these and other issues.  And, depending upon the industry assets in a particular region, local economic development professionals may need to have a working knowledge of the business base in the region, such as advanced manufacturing, logistics, agri-business, life sciences, etc.

So, when IEDA says that we are responsible for Promoting the Profession, we feel a need to help boards of directors, local elected officials and other stakeholders understand the value they are receiving from their professionals and the need to strongly support their local professional with an adequate budget and staff.

And, as we help to promote the value of experienced and well-trained professionals, IEDA is stepping up to ‘Propel the Professional’ with new and expanding education, training, and professional development opportunities.  In October, we held the first Indiana Economic Development Director Course, designed to focus on Indiana-specific information about tools and techniques for fostering economic development.

Through the IEDA Foundation, we are working with a number of benefactors to greatly expand our scholarship opportunities to enable IEDA members to attend certification courses and IEDA-sponsored workshops, and in 2016 we will expand the number of opportunities for training and professional development.

To ‘Propel the Professional,’ means that IEDA hopes to aggressively position Indiana’s economic development professionals to be the best in the nation.

Lee Lewellen, CEO
Indiana Economic Development Association
IEDA Foundation

11-3-2015 9-25-26 AM