“Our approach to economic development has been one of wealth creation rather than merely chasing jobs,” was the comment from Greg Wathen head of economic development in Tell City, IN. I wrote about his efforts to land a major manufacturing plant that literally required moving a mountain in BoomtownUSA.
“We track per capita income, average annual wages, average manufacturing wages, etc.” Wathen said. He is doing some very innovative benchmarking against similar sized towns scattered all over the country. It is an interesting idea that other towns should emulate.