“font-family: Verdana; font-size: 9pt; line-height: 115%;”>The
St. Louis
“font-family: Verdana; font-size: 9pt; line-height: 115%;”>region has seen many economic fits and starts as it faces the challenge to become more competitive in today’s new global reality.
“font-family: Verdana; font-size: 9pt; line-height: 115%;”>New York Times “font-family: Verdana; font-size: 9pt; line-height: 115%;”>columnist Tom Friedman observes rightly that in contrast to politicians, who think more narrowly and emphasize maximizing economic opportunities for their constituencies, many CEOs “font-family: Verdana; font-size: 9pt; line-height: 115%;”>
see the world where their products can be made anywhere through
global supply chains … and sold everywhere.” He reminds us that
“this is the world we are living in … and it is not going
away.”
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>Our region needs to respond to this new reality with a business model that recognizes the current reality, can respond to constant change and considers more carefully our natural competitive advantages. Friedman adds that in this 21st century world, the most important competitive advantage is talent and that returns on innovation are staggering. Moreover, supply logistics, where we have some natural advantages, creates a large number of middle-class jobs.
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>Notwithstanding the shameful abdication of support of our out-of-town state elected officials on the carefully orchestrated proposed initiative to start to build a global cargo hub with Chinese routes, we still must create a regional strategy to enhance and expand our considerable natural advantages – including our physical location for distribution, research universities, workforce, innovative advances in bioscience, ample water and moderate climate. We must offer a narrative that tells why this region is an excellent place to live, work and invest. It is not enough to brag on ourselves; we must convince others outside our region.
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>In this climate, the recent announcement by ARCH Grants founder and president Jerry Schlichter, in which he says he is “inviting a new generation – those already here and those who want to come – to help define the city’s future” is exceptionally heartening because it is bold, even audacious, and forward-thinking. Schlichter is offering badly needed-leadership to help jump-start a regional economic business development sector that has been too fragmented, unimaginative, timid and lagging for many years.
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>ARCH Grants seeks to create national competition for entrepreneurs to bring their startup businesses to St. Louis. To their credit, they have already attracted a talented young woman as its executive director. She has a chemistry degree, an MBA from the University of California – Irvine, and has developed a coding system to deal with counterfeit medications in India, raised $2 million in venture financing, ran a $600,000 budget and mentored startups at the Yale Entrepreneurial Institute.
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>Of special interest to the African-American community is Schlichter’s avowed priority of ensuring that there will be a special outreach to Historically Black Colleges and Universities and women entrepreneurial organizations – sources that have not been mined in the past for talent.
“font-size: 9.0pt; line-height: 115%; font-family: Verdana;”>This innovative approach is still in its early stages, and we must simply wait to see what evolves. Since our community has been invited to participate, to become engaged, we must be willing to step forward.
