Building a SMART Community Brings Economic Success

Oct 12, 2017 | News, Newsletter

Nate Green.
Montrose Group.

Smart Communities embrace technology as the key to their economic future. The first step in building a smart community is defining the elements of a smart community and what the economic benefits are from achieving that status.

The economic benefits of becoming a smart community are substantial. Successful technology based economic development is a well-established, five drivers of regional economic success—along with advanced manufacturing, global trade, advanced services and energy. Successful regional technology economies are built on Science, Technology, Engineering and Mathematics occupations. STEM occupations consist of nearly 100 specific occupations consisting of 6 percent of U.S. employment counting nearly 8,000,000 jobs. STEM jobs are high-wage positions paying on average $77,880 and only four of the 97 STEM occupations had mean wages below the U.S. average of $43,460. The creation of smart community operating systems for cities also suggests substantial economic gain. According to a study by Accenture, Smart City solutions applied to the management of vehicle traffic and electrical grids could produce $160 billion benefits and savings through reductions in energy usage, traffic congestion and fuel costs.

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Much more than just “drug houses”; State grants to fund commercial building demolition would propel county land banks as key drivers of Ohio’s economic development

In late April 2021, a legislative committee in the Ohio House held its second hearing to consider creating a $100 million grant program, exclusively for county land banks, to fund commercial building demolition. Ohio’s land bank statutes are recognized as a national model, uniquely providing an opt-in for county commissioners to direct tax collections to fund their county land banks’ activities. That revenue model, coupled with allocations from the state’s Hardest Hit Fund (specifically, the sun-setting Neighborhood Initiative Program), allowed land banks to grow in number during the past decade and thrive in addressing so-called nonproductive land in their communities. 

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Partnership Produces Success in Paulding County Through Northwest State Community College

Archbold, Ohio – Communication, collaboration, and partnerships are all sometimes a difficult ask. The ultimate goal of all three is to produce action that leads to meeting a goal or need. At Paulding High School, the goal was met as five students completed the Northwest State Community College welding course. The offering, consisting of two college level welding courses, came to fruition alongside the OhioMeansJobs-Defiance and Paulding Counties Office, the Paulding County Economic Development Office, Paulding High School, and Northwest State Community College.

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