Next Street’s Industrial Supply Chain Forum recently brought together leaders from across economic development, public policy, and industry to explore how states, regions, and communities are advancing industrial growth, strengthening supply chains, and building long-term economic competitiveness.

Below, you’ll find key takeaways and a recording of the webinar “Regional Economic Competitiveness: How States Are Fueling Industrial Growth.” 

Key Takeaways

  • Strong Regional Economies Start with a Clear Strategic Vision: The most successful states and regions are moving beyond broad economic development strategies and focusing on sectors where they have a clear competitive advantage. Successful regions are aligning industry, workforce, higher education, and government stakeholders around a shared long-term vision for growth.
  • Cross-Sector Partnerships Are Essential to Execution: Speakers highlighted the importance of building strong public-private-academic coalitions before funding opportunities emerge. Regions that effectively coordinate employers, universities, workforce organizations, philanthropy, and government are better positioned to secure funding, implement programs, and sustain long-term economic impact.
  • Industrial Growth Requires Investment in Small and Mid-Sized Businesses: The discussion reinforced the critical role small and midsize businesses play in industrial ecosystems and supply chains. Panelists shared examples of states creating supplier development programs and workforce initiatives to ensure local businesses can participate in emerging growth opportunities.
  • Flexible, Long-Term Planning Matters More Than Ever: With shifting federal priorities and upcoming gubernatorial transitions across the country, speakers discussed the importance of designing initiatives that can withstand leadership changes and evolving funding environments. Communities that focus on long-term outcomes, diversified partnerships, and sustainable implementation models are more likely to succeed over time.
  • States Are Increasingly Leading the Future of Industrial Policy: A major theme throughout the conversation was the growing role states and regional coalitions play in driving innovation, infrastructure investment, workforce development, and sector growth. From advanced energy and semiconductors to aerospace and manufacturing, states are emerging as critical engines of economic competitiveness.

 

A special thank you to our participants:

  • Nellie Abernathy, Founder of Abernathy Advisors and Former Director of the U.S. Department of Commerce’s Office of Policy and Strategic Planning
  • Renee Antoine, Former Legislative Director, National Governors Association
  • Spencer Lau, Head of Industrial Supply Chain Forum and Senior Director at Next Street 
  • Susie Shannon, President & CEO, South Carolina Council on Competitiveness – SC Competes 
  • Jonathan Smith, Principal of Mobilis Work and Former Senior Chief Deputy Director of the Michigan Department of Labor and Economic Opportunity (Moderator)

Interested in partnering to advance industrial supply chains and small business growth? Contact Andi Crawford or Spencer Lau.

Learn more about Next Street’s Industrial Supply Chain Forum and our work.

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