Few would disagree that the national economy has been strong since the early 1990s. Few would disagree, too, that the economy began to tighten about a year or so ago. And in tech markets, a year or so before that. Obviously, recent national security concerns have contracted the economy considerably—in some sectors to the point of near paralysis.

Dangerous times? Possibly, but I am told that the same Chinese ideogram that means “danger” also means “opportunity,” and the wisdom of that ideogram is never more apparent than now. Smart business people who have survived downturns in the past operate during these times with a heightened sense of awareness. They observe details that may have escaped them when times were flush. They cut non-cash producing assets and run a leaner shop. On page 31 of this issue Terry Phipps will share some of his excellent tips on how to do just that.

The more seasoned operators take this opportunity to analyze their market segments and acquire market share while their less savvy competition wastes its energy fretting. As part of their strategy, they retain desired existing clients and solicit healthy new ones. Tough times provide fertile ground to market one’s goods both to retain and acquire new business. The cost of recruiting new business is lower, and the opportunity to acquire market share is much higher.

In this edition of Ingram’s we explore the world of economic development and show its impact upon our region. A few weeks ago we convened 28 top ED professionals in our monthly Industry Outlook forum, this time hosted by the Director of the Missouri Department of Economic Development, Joe Driskill. The group explored the issues involved in recruiting new and expanded investment in our region.

As in most Industry Outlook forums, collegiality trumped contentiousness though there was a healthy discussion of the issues nonetheless. One area that received relatively little attention was retention. I am of the belief that strong communities lose few existing businesses and build on their assets, amenities and incentives to recruit new ones.

I believe too that the ED community should focus on helping area businesses sustain themselves during challenging times in order to position themselves for future growth.

As to the recruitment of new investment to our area, Ingram’s is doing its share through the spring release of the 2002-2003 Destination KC and the Regional Economic Development Reports and Regional Publications on each of the area’s counties throughout 2002. If we consider the area’s cost of living, its business affordability, productivity, quality of life and centrality, we can see why Kansas and Missouri are as well positioned for future economic development as any region anywhere.

At Ingram’s we take great pride in serving our community and doing what we can to help create a fertile environment for economic development as well as a strong business base. We could not do this without our valued advertisers and readers.

Next year will be an exciting one, and our plans for it are outlined on page 97 of this issue. We will continue to feature in-depth dialogue about the leading business sectors of our local community and the issues we face in our region. Just as importantly, we will expand upon and create new ED products useful as recruiting tools not only regionally but also nationally.

We all have a lot to do to shore up our foundations for a healthy economic future. We hope to have the opportunity to work with your organization in 2002 in building what could become—what should become—one of America’s most solid centers of business and industry.

As always, we welcome your input.