DT #630 The Succession Crisis No One Is Talking About in Economic Development
Develop This: Economic and Community Development
Release Date: 03/16/2026
DT #652 Small Country, Big Strategy: Costa Rica’s Rise in High-Value Global Investment
Develop This: Economic and Community Development
What does it take for a small country to compete for high-value global investment in today’s economy? In this episode of Develop This!, speaks with of the to explore how Costa Rica is evolving into a strategic hub for advanced industries and foreign direct investment. From its geographic position connecting North and South America to its growing reputation in high-tech sectors, Costa Rica is positioning itself as more than a nearshoring destination—it’s becoming a knowledge-driven economy focused on long-term value creation. Pilar explains how the country has successfully diversified...
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DT #653 Leading with Vision: Why Communities Need Big, Audacious Goals
Develop This: Economic and Community Development
What role do big, bold visions play in shaping stronger communities and more effective leaders? In this episode of Develop This!, is joined by to explore how optimism, storytelling, and ambitious goals can inspire innovation, community engagement, and long-term growth. Drawing inspiration from the Apollo 11 Moon Landing, the conversation examines how major rallying points can unite people around a shared purpose and create momentum for transformational change. Mark and Dennis discuss the importance of balancing realism with aspiration in leadership, emphasizing that communities need both...
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DT #669 Smaller Business Week: Why Microbusinesses Matter
Develop This: Economic and Community Development
In celebration of Small Business Week, this episode of Develop This! takes a closer look at the businesses that are often small in size but powerful in impact: microbusinesses. Friend of the show, brings , co-founder of to speak with Joi Cuartero Austin for a conversation about why communities should pay closer attention to solopreneurs, makers, freelancers, consultants, pop-up vendors, home-based businesses, side hustlers, and gig workers. Together, they explore how these “smaller” businesses contribute to local economies, build community identity, create flexible income...
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DT #650 Building Inclusive Economies: How Private Sector Lessons Drive Community Transformation
Develop This: Economic and Community Development
What does it take to build economies that are truly inclusive—and built for long-term impact? In this episode of Develop This!, speaks with to explore his diverse career spanning the private sector, entrepreneurship, and community development—and how those experiences shape his approach to economic transformation today. Philip shares how lessons from the private sector can directly inform economic development strategy, especially when it comes to innovation, ecosystem building, and driving measurable community impact. The conversation also highlights the importance of addressing systemic...
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DT #651 Lithuania Rising: How a Small Nation Became a Global Hub for FinTech and Innovation
Develop This: Economic and Community Development
How did Lithuania transform itself into one of Europe’s fastest-rising investment and innovation hubs? In this episode of Develop This!, speaks with from to explore the country’s remarkable economic evolution and growing global influence. From FinTech and global business services to defense and data centers, Lithuania has positioned itself as a competitive destination for high-value investment. Ruta explains how the country’s strategic location, modern infrastructure, and business-friendly environment continue to attract international companies and talent. A major focus of the...
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DT #648 Why Hungary Wins: Inside Europe’s Fastest-Evolving Investment Destination
Develop This: Economic and Community Development
What makes a country stand out in the global race for investment? In this episode of Develop This!, speaks with of the to explore why Hungary has become one of Central Europe’s most dynamic investment destinations. From its strategic location at the heart of Europe to its deep integration into the EU single market, Hungary offers companies access to major markets, efficient logistics, and strong infrastructure. Fadi explains how the country’s positioning enables fast access across Europe while supporting complex global supply chains. The conversation dives into Hungary’s economic...
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DT #649 The New Rules of Site Selection: Power, Risk, and the Future of Industrial Location Strategy
Develop This: Economic and Community Development
What are the new rules shaping where major industrial projects choose to land? In this episode of Develop This!, speaks with , Director of Site Selection at , to unpack how technology, geopolitics, and infrastructure demands are reshaping modern site selection. Courtney breaks down how today’s location decisions are being influenced far beyond traditional cost factors. From energy availability to geopolitical stability, companies are weighing risks and long-term resilience more heavily than ever before. A major focus of the conversation is infrastructure—especially power. As industries...
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DT #646 Dress the Part: How Personal Style Shapes Confidence and Career Success
Develop This: Economic and Community Development
How much does what you wear actually shape how you’re perceived—and how you perform? In this episode of Develop This!, is joined by , founder of , to explore his journey from a farm in Canada to becoming a leading voice in men’s fashion and personal styling. Dan breaks down the fundamentals of building a professional wardrobe, emphasizing why fit, quality, and intention matter more than trends. He also shares how personalized style can directly influence confidence, presence, and career success. The conversation explores the shift toward more casual dress codes, and why understanding...
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DT #647 From Legacy City to Regional Powerhouse: How Birmingham Is Rewriting Its Economic Future
Develop This: Economic and Community Development
What does it take for a legacy industrial city to reinvent itself into a modern growth hub? In this episode of Develop This!, is joined by to explore Birmingham’s ongoing economic transformation and the strategies shaping its future. From major wins like the Fannie Mae project to the continued rise of life sciences and metals industries, Birmingham is positioning itself as a diversified and competitive regional economy. Trevor breaks down how strategic investment, infrastructure, and workforce alignment are driving that shift. A major focus of the conversation is workforce...
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DT #644 Beyond Cost: What’s Really Driving Global Site Selection Today
Develop This: Economic and Community Development
What’s really driving global location decisions today? In this episode of Develop This!, sits down with of to unpack the shifting landscape of site selection and investment strategy. From AI and data centers to supply chain resilience, Johan explains how companies are rethinking where they invest—and why. As decentralization accelerates, talent and strong ecosystems are becoming just as important as cost. The conversation also highlights a key shift: “soft factors” like workforce quality, innovation networks, and livability are now critical differentiators in competitive markets. A...
info_outlineAcross America, thousands of business owners are quietly approaching retirement — and many have no succession plan in place. For communities, that represents a major economic risk: lost jobs, closed storefronts, and the potential loss of locally rooted businesses.
In this episode of Develop This!, host Dennis Fraise sits down with Mark Piekos, Executive Director of the McHenry County Economic Development Corporation, to explore how communities can turn the coming wave of business transitions into an economic development opportunity.
Mark shares insights from Strong Transitions, an innovative program helping business owners prepare for exit while connecting them with the next generation of entrepreneurs. The initiative provides advisory support, builds a network of professional experts, and helps communities retain businesses through local ownership and thoughtful succession planning.
Mark brings a unique perspective to the role. A lifelong resident of McHenry County and former small business owner, he also previously led the Illinois Small Business Development Center at McHenry County College, giving him firsthand experience helping entrepreneurs launch and grow businesses.
Together, Dennis and Mark discuss why succession planning is often overlooked, the risks communities face if they ignore it, and how economic developers can build programs that protect local businesses, preserve jobs, and strengthen their economic base.
If your community wants to retain businesses, build entrepreneurship pipelines, and prepare for the coming transition wave, this conversation is a must-listen.
Key Topics Covered
- Why 73% of privately held businesses are expected to transition in the next decade
- The economic development risks of unplanned business exits
- How the Strong Transitions program connects business owners and successors
- The role of Entrepreneurship Through Acquisition (ETA)
- Why succession planning should be a core business retention strategy
- Building an advisor bench to support business transitions
- Marketing strategies to reach business owners who rarely talk about exit plans
- How communities can start their own succession planning initiatives
Memorable Quotes
- “Succession planning is one of the biggest economic development issues that no one is talking about.”