Economic Development Isn’t What It Used to Be with Teresa Nortillo

In this episode of the Econ Dev Show, Dane Carlson talks with Teresa Nortillo, President of Eco Devo 360, about how economic development has evolved from a deal-focused discipline into a complex, ecosystem-driven practice. They explore how energy constraints, workforce skill gaps, and the need for rapid RFI responses are reshaping site selection, along with the growing importance of childcare, housing, and regional collaboration.

Teresa also introduces the concept of ecosystem-based cost modeling, explains why many communities struggle to implement traditional consulting plans, and shares her mission to make high-quality economic development support accessible to under-resourced communities.

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10 Actionable Takeaways for Economic Developers

1. Build a system to respond to RFIs within 48 hours or less
2. Inventory your community's workforce by skills, not just occupations
3. Develop relationships with utilities early, they are now deal drivers
4. Map your full economic ecosystem including housing, childcare, and infrastructure
5. Create or adopt a cost model to understand true location competitiveness
6. Collaborate regionally instead of competing in isolation
7. Identify and fill critical data gaps before prospects ask for them
8. Prioritize implementation capacity, not just strategic planning documents
9. Explore alternative revenue strategies beyond property and sales tax
10. Invest in training and mentorship for newer economic development staff

• EcoDevo360
• Teresa A. Nortillo, MPA, CEcD | LinkedIn