The Leader - January/February 2009 - (Page 45)

Heartland Holding Strong Midwest Lays Groundwork for Economic Rebound by baiLey Webb certain steadiness dictates life in the Midwest, the United States’ heart and spine, connecting east and west, north and south with myriad rivers, roads and rail lines. At the same time, the Midwest’s shining urban mecca, Chicago, once again reminds us of its world-class status, serving as the launching pad for American President Barack Obama’s meteoric rise. Like every other part of the U.S. and developed world, though, the Midwest faces a potentially bleak 2009 as the aftershocks of the U.S. financial-market-breakdown ripple through the larger economy. A few years ago, Midwest cities and economic development agencies may have envied markets with large concentrations of residential lending and finance operations. Now, it looks like they dodged a burst bubble for the most part, though auto and a handful of other manufacturing industries will feel the sting for the foreseeable future. Many Midwestern rural communities also have ridden an upsurge in agricultural commodities pricing, which was tempered somewhat by the rise in petrochemicals and fuel oil prices. Still, higher commodities prices and potentially lucrative biofuel and other alternative- A energy developments enhanced prosperity and economic development opportunities in once-sleepy counties across the region. For Corporate America throughout the Midwest and the remainder of the U.S., the inexorable push for heightened efficiency and productivity will continue. Belts, many of which were already tight, are about to get tighter. “Most corporations right now are very focused on expenses,” said Dean Mueller, executive vice president of St. Louis-based Colliers Turley Martin Tucker, which has offices throughout the Midwest. “When it comes to office space, that’s what it comes down to – what kind of space do we have, what kind of space do we need, and can we be more efficient? People are looking to put decisions on hold for as long as possible.” Logistics, Putting the Mid in Midwest: Ohio As the crossroads of the U.S., the Midwest hosts concentrations of distribution and manufacturing from eastern and central Ohio to Kansas City’s Interstate 35 NAFTA corridor, with Chicago, one of the world’s biggest distribution centers, in between. The region also 2 0 0 9 th e Le ade r 45 january / february

Table of Contents Feed for the Digital Edition of The Leader - January/February 2009

The Leader - January/February 2009 Contents Leadership Message from the CEO Real Estate in the News Mergers and Aquisitions Assessing Green Building Performance Measuring Space You Actually Use Global Trends in Sustainable Real Estate Whirlpool’s Lee Utke Northmarq’s Kevin Farrell Plastics: Hoping for Resiliency in Resins Regional Profile: Heartland Holding Strong Industry Profile: Ascendas Brings New Age Business Space to Asia-Pac Industry Tracker From the Applied Research Center Discovery Forum Findings Capital Corner Career Development Young Leader Economic Development in the News Learning Spotlight Connect With CoreNet Global Index of Advertisers A Look Ahead In our Next Issue Calendar of Seminars

The Leader - January/February 2009

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