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Managing Economic Development in Times of Fiscal Uncertainty: Past Crises and Current Strategies

A Forum Co-Hosted with the Federal Reserve Bank of Chicago

Thursday, April 4, 2013 - 1:00pm to 6:00pm

 Federal Reserve Bank of Chicago, 230 S. LaSalle

This half-day forum, co-hosted with the Federal Reserve Bank of Chicago, addressed economic development in times of fiscal uncertainty. Panelists discussed economic development efforts following severe fiscal crises in California and Michigan, as well as the impact of uncertain politics and economy on business location decisions.

The forum closed with a luncheon and keynote address from Steven Koch, Deputy Mayor of the City of Chicago.

To download materials and presentations from the conference, click here. For a recap of the event, visit the Civic Federation blog.


7:30 a.m. to 8:00 a.m. — Registration and Continental Breakfast
Badge Pickup and Security Inspection in the Lobby

8:10 a.m. —  Welcome and Opening Remarks
William Testa, Vice President, Federal Reserve Bank of Chicago
Therese McGuire, Professor of Management and Strategy, Kellogg School of Management, Northwestern University

8:50 a.m. — Break

9:00 a.m. Session I — Fiscal Distress and Economic Development
Speakers discussed economic development successes and challenges in California and Michigan in the context of ongoing fiscal instability. Can planning help stressed governments retain or regain competitiveness? How did state laws and policies help or hinder localities’ economic development plans?

Moderator: Alicia Berg, Vice President, Campus Environment, Columbia College Chicago

• Mitch Bean, Great Lakes Economic Consulting
•The Honorable Tom Tait, Mayor, City of Anaheim, California

10:00 a.m. — Break

10:15 a.m. Session II — Business Location Decision-Making
Speakers discussed how businesses make location decisions and how levels of taxation and uncertainty in general affect where businesses locate and expand. How do regions, states and localities make themselves more attractive in the context of uncertain politics and economy?

Moderator: Rachel Weber, Associate Professor, Urban Planning and Policy, University of Illinois at Chicago

• Ivan Baker, Director of Economic Development, Village of Tinley Park
• Jon B. DeVries, Director, Marshall Bennett Institute of Real Estate, Roosevelt University
• Stephen B. Friedman, President, S.B. Friedman Development Advisors

11:45 a.m. — Buffet Luncheon

12:15 p.m. — Keynote Speaker
Steve Koch, Deputy Mayor, City of Chicago

1:00 p.m. — Adjournment
Laurence Msall, President, The Civic Federation