- Name: Tracey Nichols, Certified Economic Development Finance Professional; former Director, Economic Development, City of Cleveland, OH; former Assistant Director, Economic Development, Cuyahoga County, OH
- Certifications earned: Economic Development Finance Professional (EDFP)
- Favorite Grow America course: The Art of Deal Structuring and Problem-Solving
“If we expect people to do great things, then we need to give them the tools they need to succeed. In my opinion, Grow America’s training is one of the best tools out there.”
Real-world impact on Cleveland and beyond
At Grow America, our industry-leading training programs for professionals in community and economic development fields result in usable skills, not just theories. Here’s how our programs impacted the career of Tracey Nichols and her Cleveland, OH, community. While there, Tracey led an economic development team that completed more than 900 projects, led $3 billion in investment and created or retained more than 27,000 jobs.
900 projects, $3 billion in investment, creating and retaining more than 27,000 jobs. We also obtained over $100 million in grants and pass- through funding, such as HUD 108.
Challenge: Practical skills are crucial but often missing
After graduating from Case Western Reserve University with degrees in accounting and finance, Tracey brought a strong financial foundation to her early work. She soon realized, though, that there were critical gaps when it came to practical skills.
“In college, you don’t get training on how to put together real estate deals, including assessing comprehensive community impact, but these skills are critical to success,” Tracey explains.
This is where Grow America’s training programs made a significant difference in her career.
Certification and more
Tracey achieved certification as an Economic Development Finance Professional in 2006.
“The training program is a commitment, but it’s worth it many times over,” Tracey says. “Grow America teaches you how to identify good real estate deals and understand industry standards. You learn to evaluate projects, understand financials, and translate finance concepts into real-world applications.”
The final class in the certification series, “The Art of Deal Structuring and Problem-Solving,” had a particularly strong impact, teaching Tracey how to look at the holistic impact of projects on communities: Evaluating whether projects are right for specific locations, how to communicate effectively with stakeholders, and understanding when and how to renegotiate.
Impact, Solutions, Results
The impact of Grow America’s training extended far beyond certification. The knowledge Tracey gained enabled her to:
- Make better project evaluations: “When you have the practical skills and insight that you need, you can approach project-evaluation with confidence. I could say to a developer, ‘I don’t think your projections are accurate and here’s why.’ Then we’d reconsider and renegotiate and get to a solution together.”
- Create community-appropriate developments: “It teaches you to look holistically at economic development and find good deals and better solutions when parts of a deal aren’t going to work for all constituents.”
- Access ongoing expertise: “One of the things I love about Grow America is, once you take the training, you’ve got access to a wealth of expertise for life. Because the trainers are experienced practitioners, too, when I was stuck or just needed a fresh perspective, I could call them and say, ‘I’ve got a question…What do you think of this approach?’”
- Navigate complex federal programs: Tracey highlighted gaining in-depth knowledge of HUD’s Section 108 program. “It’s extremely complicated, but Grow America helped me leverage it to create winning solutions.”
- Build professional networks: “The value of meeting trainers and other development professionals at the sessions was remarkable. There’s so much insight and confidence that you gain from these networks.”
Building a culture of learning
Tracey incorporated what she learned into her leadership style. As she advanced, she prioritized training–and professional development funding–for her teams.
“The investment comes back to your community exponentially,” she says. “And even if someone from your team moves on, they take the knowledge and skills they’ve learned to benefit another community. Everyone I included in Grow America trainings has gone on to have a huge impact.”
Grow America training: Transforming careers and communities
As Tracey’s experience demonstrates, the practical knowledge, industry standards, and professional networks gained can transform careers and communities.
Ready to advance your career in economic and community development? Learn more about Grow America’s training programs and register today.