Today the State of Texas and its cities are growing at a very rapid rate.  We are consuming open space at a record pace and this is producing negative impacts to water quality, increased traffic congestion, depressed property values and generally reducing our quality of life.  One solution to this problem is to reduce the urban footprint by increasing the intensity of our redevelopment efforts in existing urban areas.

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In both the manufacturing and service sectors, the buzz is all about outsourcing but insourcing – job-creating investments in the U.S. and Canada by foreign-based firms – is also strong.

Take a look at these statistics and you’ll quickly understand why so many communities, regions and state/provincial governments are working hard to attract foreign investment. In the U.S. alone, new foreign investment totaled $39.9 billion in 2003. Additionally, the U.S. subsidiaries of foreign-based companies:

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Did you know that 65-80% off all new jobs in our community will come from existing companies?

One of the most effective business restructuring tools a community can offer is a program to assist existing businesses in their efforts to become or remain profitable.  The Greater Waco Chamber is leading the charge of supporting existing businesses through the Business Retention and Expansion Program (BRE).

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The new investment recently announced as a part of the upcoming Waco Town Square aims to inspire pedestrian activity by creating a concentration of jobs, shopping, entertainment and housing together. Having these activities closer together creates opportunities for walking and creates the kind of community identity that is useful in attracting and retaining businesses and new residents.

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When someone with the unforgettable name of Richard Florida came to town four years ago, he charmed an audience of 500 bay area industry and arts leaders at the Tampa Bay Performing Arts Center with this message:

If your city isn’t hip, your economy will wither and die.

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