I was in another meeting with economic developers, and there was a growing recognition that broadband and power are the new water and sewer. In the Manufacturing Economy, it was water and sewer capacity that often made the difference when trying to attract manufacturing plants to a region.
Today, it is redundant broadband cable routes, multiple broadband service providers, redundant electric service, and reliable backup electric power that is driving relocation decisions. Medium and large companies are decentralizing their back office and server farm operations, moving them into more rural areas with good quality of life and a lower cost of living. But they are looking for business parks with electric power coming from two different substations, so one electric line could go down and there would still be power available. A single medium-sized server farm building may require 30 megawatts of power, and needs a substantial backup diesel or natural gas generator.
Companies also want broadband access not just from two or three different firms but also two or even three different cable routes. And they want all these facilities in place--they can't wait twelve to eighteen months while they are built. Relocation decisions are often made in as little as two to three months.
Can your economic developers answer all these questions? Does your region have an economic development strategy to address the broadband and power needs of Knowledge Economy businesses?