Reflections from the IEDC Leadership Summit

ACCE Foundation staff gleaned wisdom from sessions and attendees at the International Economic Development Council (IEDC) Leadership Summit this January in Tuscon, Arizona. The summit focused on inclusive economic recovery and what’s ahead for the economic development industry. Chambers of commerce play an important role in local economic development, regardless of whether they have an explicit business attraction, retention and expansion arm.

Here are some takeaways for any chamber professional thinking about community impact in 2023.

Partnerships are vital.

Many breakout sessions highlighted the importance of honest and open partnerships. Economic development organizations (EDOs) are key partners in current community challenges like housing, traffic and water management. Communities can thrive when chambers and EDOs collaborate. Government can’t lead small business ecosystems. They must be a partner, working alongside small businesses and industry to support the ecosystem.

Partnerships can also unlock funding and business opportunities. Communities that have established and positive relationships between public agencies and the private sector can be nimble and address the next wave of challenges and innovations like climate resiliency, space travel and clean technology.

Collect and disaggregate data.

Diversity, equity and inclusion requires customization, so disaggregating data is a popular DEI strategy. It helps you see how people from different backgrounds experience life in a region. Sometimes, chambers must collect or verify their own data. For example, a speaker shared how there are many hoops to becoming certified as a minority business enterprise.

Be honest about your community’s story.

Speakers in sessions on diversity, equity and inclusion metrics and community branding were clear: the typical person can look up anything they want and pass judgment on any ZIP code. Be honest about what your community offers and where it needs to grow. Talent and business alike can tell when a community does not have a uniform message, and it affects site selection decisions. This point was reiterated by the site selection panel.

Additional ACCE resources:

• Join?ACCE’s Economic & Community Development
• Webinar:?Leveraging Diverse Partnerships in Economic Development
• Webinar:?Better Decision-Making with Data
• Share your chamber’s data in?ACCE’s Dynamic Chamber Benchmarking