DT #610 Looking Ahead to 2026: Chris Lloyd - Economic Development Trends You Can't Ignore

As Develop This! kicks off its Crystal Ball series for 2026, host Dennis Fraise is joined by Chris Lloyd, Senior Vice President and Director of Infrastructure and Economic Development at McGuireWoods Consulting, for a forward-looking conversation on the forces shaping the future of economic development in partnrship with the Site Selectors Guild. Chris brings a national perspective on how federal tax policy, state conformity, executive orders, and the growing affordability agenda are influencing site selection and investment decisions. The discussion explores why tools like immediate expensing of capital matter more than ever, how executive actions can accelerate permitting, and why affordability—especially housing—has become a central factor for companies choosing where to locate. The conversation also dives into evolving site selection criteria, from power availability and workforce readiness to speed-to-market pressures and the growing role of AI and data centers. Chris underscores that while megaprojects capture headlines, smaller, strategic wins are increasingly critical for community success. Throughout the episode, one theme stands out: economic development is a storytelling business. Chris explains why economic developers must clearly articulate their community's value proposition while preparing for risk, disruption, and the unexpected. This episode offers practical insights and strategic foresight for community and economic development professionals preparing for 2026 and beyond. Key Takeaways Major trends—including AI and data centers—are reshaping economic development strategies Immediate expensing of capital remains a powerful incentive for project decisions State conformity with federal tax policy can be a decisive site selection factor Executive orders can significantly streamline permitting and project timelines Affordability is now a core consideration in corporate location decisions Public-private partnerships play a growing role in workforce and housing solutions Power, workforce, and speed to market remain essential site selection criteria Effective community storytelling is critical to winning investment Smaller, targeted projects are gaining importance alongside megaprojects Communities must have "break glass" contingency plans for emergencies and disruptions