“Technology is the currency of the economy of the future.” Malcolm Portera, Ph.D. How will we use it?

Just finished listening to the Marshall University and City of Huntington, WV livestream on Economic Development.  The guest speaker today was Mr. Malcolm Portera, PhD.  His background and experience in winning employment for residents of his states is amazing.  And the path was the combination of the special talent universities and governments hold when they use their resources in tandem for the better good.

The title of  this post was a huge take-away for me, it was a quote he made; and he mentioned he often uses this to drive home the need for his three principles of economic development.

  1. Retain the business and industry (and genres) you have.
  2. Recruit new development, industries and investments.
  3. Commercialize innovation.

Other key take-aways for me were a couple other quotes:

When asked about the difficulty of meshing so many interests and combative entities in economic development, Malcolm reiterated a phrase he said he’d used for / with his teams in most all efforts, “Find a way.”  Simply stated, one has to find a way to get done what is really important to themselves.

When asked about the competitive nature of luring investment into an area, Dr. Portera said, “What it comes down to in the end is the feeling the prospect has that they trust you to be able to deliver what you’ve promised.”  This is probably the best decision-making criterion one could think of, and an absolute requirement one must accomplish in sales; creating the trust that you can deliver what you promise.