Back to A.C. from D.C.

I attended the IEDC Federal Forum last week.  Here is a list of interesting bits of information from the conference compiled by Louise Anderson and posted on the International Economic Development Council’s website:

  • Number of job centers in the federal workforce system: 2,700
  • Percent of U.S. businesses that export: 1
  • Percent of the world’s consumers who live outside the U.S.: 95+%
  • Percent of the world’s purchasing power located outside the U.S. 80%
  • Percent of American workers employed by foreign-based businesses: 5%
  • Cost of an average machine in a machining shop today: > $1 million
  • Average wage of a nurse working in a hospital: $28/hour
  • Average wage of a nurse working in long-term care: $14/hour
  • Federal tax per gallon of gas (which funds highways, bridges and transit through the surface transportation program): 18.4 cents
  • Year in which gas tax collections won’t meet highway and transit needs (due to long-term trends of fewer miles driven and more fuel-efficient vehicles): 2015
  • Value of U.S. exports in 2012: $2.2 trillion
  • Number of German companies in the U.S.: 3,500
  • Number of jobs those companies provide: 600,000-700,000
  • Percent of foreign investment in the U.S. they are responsible for: 9%
  • Percent of FDI in the U.S. that comes from the European Union: 71%
  • Percent from Latin America: 3%
  • Percent of American exports derived from U.S.-based subsidiaries of foreign firms: 18%
  • Number of workers employed by U.S. affiliates of foreign firms in 2010: 5.27 million
  • Percent of Fortune 500 firms started by immigrants to the U.S. or their children: 40%
  • Increase in EB-5 program applications in 2012 compared to 2007: Sevenfold
  • Number of counties, boroughs and parishes in the U.S.: 3,069

About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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