After our article on place branding, we were interested to read an interview by economic development expert, Gene DePrez covering the same topic.

DePrez has been advising cities/regions and global companies about economic development for over 30 years.

Here’s what he had to say recently about the importance of place branding to economic development.

 

How important is place branding for the economic positioning of cities and regions?

“Absolutely critical! Now more than ever with the reality of globalization. A city-region’s competition isn’t limited to cities a state or two away, or even the country or hemisphere.”

“With companies seeking access to new markets, specialized talents and more efficient supply chains, there is a constant reevaluation of locations for new investment (or relocating to already existing locations). It is more important than ever for communities to differentiate themselves through effective branding.”

 

How can place branding support the sustainable (economic) development of cities?

“Place branding can not only attract long term investment but also helps local and regional stakeholders understand and communicate their value proposition. It helps them to successfully argue the business case and return on investment for infrastructure, education and other competitive improvements.”