Building a SMART Community Brings Economic Success
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.
Ohio Gov. Mike DeWine announced the members of the Ohio Economic Business Recovery Advisory Board on Friday, April 3. The group was created to be an advisory board to help state officials as they deal with the economic fallout of the coronavirus pandemic.read more
OEDA has launched a COVID-19 Resource Center on its website. The Resource Center provides Ohio’s economic development community with resources to help practitioners best serve their business community during the COVID-19 outbreak. OEDA will do all that we can to provide factual information and helpful resources you need as leaders in those efforts.read more
JobsOhio has taken several actions to support Ohio businesses during the COVID-19 crisis. JobsOhio has modified current programs and created temporary programs to provide flexibility and support cash needs of medium and small businesses. These actions support a strategy to address immediate needs while looking toward the near future.read more