[Durham INC] Durham Receives Global Recognition for Economic Potential

[Blalock, Amy]

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CITY OF DURHAM
Office of Public Affairs
101 City Hall Plaza
Durham, NC 27701


News Release


News Media Contact:
Amy Blalock
Sr. Public Affairs Specialist
(919) 560-4123 x 11253
(919) 475-7735 (cell)
Amy.Blalock at DurhamNC.gov<mailto:Amy.Blalock at DurhamNC.gov>
http://Facebook.com/CityofDurhamNC
http://Twitter.com/CityofDurhamNC

For Immediate Release: October 28, 2013




Durham Receives Global Recognition for Economic Potential
2013-2014 Award Ranks Durham #2 in Top 10 Small American Cities

DURHAM, N.C. - The City of Durham has been globally recognized for its economic potential, ranking #2 in the Top 10 Small American Cities of the Future from fDi American Cities.

The fDi American Cities of the Future Award ranks and recognizes cities which have the best prospects for inward investment, economic development, and business expansion in the Americas. According to Kevin Dick, director of the City's Office of Economic and Workforce Development, the award is important because it reflects Durham's growing position in a global economy and shows that Durham is comparing favorably with cities not just in the United States, but throughout the continents of North and South America in terms of its ability to attract foreign direct investment.

"Foreign direct investment stimulates our local economy by injecting capital and talent into local projects, which can, in turn, provide job opportunities for local job seekers and business development opportunities for local firms. Being seen as a community of our size with economic potential by foreign investors has the potential to boost our economy and augment the investments that are being made by U.S. firms," Dick said. "This distinction also reflects the power of partnership among local economic development entities such as the City, Durham County, Greater Durham Chamber of Commerce, Downtown Durham, Inc., North Carolina Institute for Minority Economic Development, Durham Convention and Visitor's Bureau, Research Triangle Regional Partnership, and Research Triangle Foundation."

According to fDi's award criteria several categories were reviewed, including economic potential, human resources, cost effectiveness, infrastructure, and business friendliness. Within these categories, more than 100 data points across over 420 locations were also assessed before determining the winners. "Given the strength of the rankings methodology, the large field of competitor cities, and sheer scale of such a benchmarking exercise, those cities marked for recognition deserve to be proud of their efforts," said fDi Magazine's Americas Editor Michal Kaczmarski.

Staff with the Economic Development Division of the City's Office of Economic and Workforce Development recently attended the 2013 Annual Conference of the International Economic Development Council to receive the economic potential second-place award in the small cities category. The complete results were released on the April/May 2013 issue of fDi Magazine. To view the article for all 2013-2014 award winners, visit http://www.ledc.com/_pdf/news/ACOF-2013.pdf.

About the Office of Economic & Workforce Development
Guided by the City's Strategic Plan, the Office of Economic & Workforce Development helps ensure that Durham has a strong and diverse economy by increasing the city's tax base through several revitalization initiatives, including new development efforts in the central city area. The department also plans and promotes cultural awareness and events, identifies and recruits target industries as well as assesses and trains Durham residents to fill new jobs. For more information, visit http://www.DurhamEconomicDevelopment.org.

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