Sunday, September 22, 2024

Delta County Michigan County Meeting (9/17/2024): Budgeting and Industrial Opportunities

Too much information for me to write but I will say is that there was some discussion on budgeting and the fiscal health of the county (Delta County Budget). (Just as a side point you can go on YouTube and click transcript of the meeting.) Considering that Escanaba also has a solvent budget we might have the foundation for positive development in the area. There has been a turnaround recently that includes improved investment attraction, increased tourism, infrastructure development and improved budgets. What we may also find out is that population and income are also rising but we won't know that for sometime. There are other opportunities we can consider but these are more for exploring possibilities. If you start thinking about some possibilities then you may come up with some great ideas.

A few free flowing thoughts for mental consumption......

Economic Dashboard and/or Matrix 

There are ways to build economic and social health dashboards so you can monitor area health but that is a more of a theory discussion. Basically your just taking all the avaiable metrics you need for decision making and updating them automatically when the new information becomes avaiable. Gives you a broad view of the economic health of the area and perhaps can help to encourage new investment if that information is broadly available (Remember economic and social development as possible lenses). As a matter of point, it isn't that hard to collect all the avaialble information and just list them on an investment page of some type. A little different than a dashboard but you can likely get the main point. Helping investors understand the area increases investment on the new infrastructure developments. i.e. why invest in Esky? Having an updated dashboard for administrators to ponder may lead to stronger strategic decision making. 

This article discusses municipal budgets and has a blurb on an evaluation matrix which is more static than a dashboard (collection of many different measurements based on what one is trying to understand. i.e. economy, social development, or both, etc.). High Impact Budgeting

A Question on Possible Coordination and Industry Development

The question becomes can Escanaba, Gladstone, and Delta County coordinate on projects that attract investment, reduce costs, and improve services for the three entities? i.e. reaching out to companies with available industrial spaces, coordinating services to reduce redundancy, so on and so forth. Think of all the different pathways to grow (There are a number of clusterable industries like ship building that is in serious high demand in the market and we may have the ability with local manufacturing capacity, wearhouses, deep sea port, and transportation infrastructure to pull something like that off. One doesn't have to look far to find other examples. i.e. economies of scale based on differences but Esky could provide specialization with design and custom small batch manufacturing for ships. ie AI tech. We had one billion in possible investment that was put on drip but what about another?)

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