For years, economic developers across the country have been measured by a single metric: wins. How many new businesses did you recruit? How many ribbon cuttings did you attend? How many announcements did you make?
It is a simple, satisfying scorecard. It is also increasingly disconnected from the reality of what economic development actually requires — and what communities actually need.
The industry has moved beyond that — and a landmark new report confirms it.
The International Economic Development Council recently conducted its first-ever State of the Field survey, the findings of which were published earlier this year in Area Development magazine. The results confirm what forward-thinking economic developers have known for some time: the role has fundamentally changed. According to the report, nearly 700 practitioners contributed to the survey, which compiled more than 150,000 data points from across the country, representing community types, organization sizes and regions of every kind.
What the IEDC found, according to the Area Development report, is a profession in the middle of a significant transition. The report describes this shift as moving toward “systems stewardship” — a model, as the report defines it, in which economic developers facilitate relationships, align incentives and coordinate regional strategies rather than simply chase deals. According to the report, more than 61 percent of survey respondents said establishing and maintaining partnerships and networks is now a core part of their work. The report also identifies new areas of focus that have entered the profession, including housing affordability, broadband deployment, childcare, infrastructure development, AI integration and community peacemaking.
These findings reflect just how much the profession has grown and deepened in response to the complex challenges facing communities across the country — and they resonate deeply with the work we are doing right here in Southeast Idaho.
This is not a minor adjustment. It is a fundamental reframing of what economic development is and what it is for.
The old “wins” model made sense in a simpler time, when economic growth was primarily driven by recruiting manufacturers and counting jobs created. But the modern economy does not work that way. Businesses today choose locations based on a complex web of factors — workforce quality, housing availability, broadband access, quality of life, childcare infrastructure and the strength of regional partnerships. An economic developer who focuses only on recruitment is ignoring most of the variables that actually determine whether a community thrives.
What the IEDC report describes as “systems stewardship” is exactly the model that the most effective economic developers are already practicing. They are conveners, strategists and relationship managers. They work across sectors and across jurisdictions to create the conditions under which businesses and communities can grow together. They measure success not just in announcements but in the resilience and vitality of the regional economy as a whole.
In Southeast Idaho, this evolution is already underway. Our organization has spent the past two years building the kind of regional systems and partnerships the IEDC report describes — working to strengthen the broader economic ecosystem rather than simply counting announcements. The results speak for themselves in the jobs supported, the payroll generated, the investment attracted and the regional relationships built and sustained over time.
That work is informed by the best thinking in the industry, including collaboration with our national organization and academic partners at the highest levels. It reflects a genuine commitment to measuring what matters — not just what is easy to count. And it positions Southeast Idaho to compete effectively in an economic landscape that rewards regions with strong systems, deep partnerships and a clear vision for the future.
The Area Development report concludes that the field’s credibility over the next three to five years will depend on how honestly it measures what matters and how clearly it communicates what progress actually looks like. That is a challenge the entire profession is taking seriously, and it is one worth taking seriously here at home as well.
Communities that understand and support modern economic development practices will be better positioned to attract investment, grow jobs and build resilient regional economies. The work is already underway in Southeast Idaho. The results are already showing. And the best is yet to come.
That is what modern economic development looks like — and it is exactly what we are working toward every day.