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In a slowing
economy,
C
EDCs are becoming valuable
resources to space users—
depending on what firms can
bring to the community
By Joseph Dobrian
EVEN THOUGH ECONOMIC DEVELOPMENT
corporations have been around for many years, only gradually
over the past couple of decades have these local, regional and
state organizations gained serious notice as effective forces for
attracting and retaining large corporate users of real estate.
EDCs might become even more important contacts in the
next few quarters, as the economy appears to be slowing and
many municipalities compete to attract entities that could create new jobs. Most have become adept at steering potential
corporate tenants toward cash incentives, tax abatements,
training programs and other inducements—and often they can
help to customize those inducements to the individual corpo-
