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Della G. Rucker, AICP, CEcD The Wise Economy Workshop Jim Kinnett, CEcD, FM, EDFP The Kinnett Consulting Group Mark Barbash, FM Economic Development Consultng Slide 2 Changing Thoughts How is your community doing? What you can do to help your community improve? Slide 3 Della Rucker Jim Kinnett Mark Barbash Slide 4 Public-private organizations Chambers Local, regional & state organizations Local and state government Foundations Neighborhood, downtown, community development organizations Increasingly, you. Slide 5 Slide 6 Who is at the table? (hint: more than ever) Non-partner partners Loss of local businesses = loss of decision makers Medium sized business reluctant to participate in economic development Slide 7 Community college lifeline Reshoring? Research and Development Educating entrepreneurs Public schools Slide 8 Entrepreneurs!! Grow your own: Economic Gardening Incubators and accelerators 1099 economy Slide 9 Quality Places get most investment Build on assets Its all connected Cost v. benefits in a new way Slide 10 Where people get information Site selection changing Reputation management No filters, no delays People will have their say. Slide 11 Change or Die Be Strategic & Deliberate Redefine incentives Understand how a business makes decisions Find new partners but understand their (and your) limitations Do the math & know your numbers Slide 12 Slide 13 Economic development is acting to ensure that the economy of your community or region (your income or savings) grows faster than your population (your expenses) so you have the extra resources in the future to finance improvement. Slide 14 Is your economy growing faster than your population? Economy: Income, savings, wages, Population: Count, demographic, and the costs of serving the population Income greater than your expenses? Slide 15 How do you know if your economy is growing faster than your population? Slide 16 Do you have adequate fiscal resources to meet short-term needs and long-term? Is the community maintaining the number & quality of jobs? Is the community dependent on a limited number of businesses? Do you have a balance of land uses? To what extent is your local economy based on regional assets? A-list Slide 17 Is your environment improving? Is your crime activity increasing? Do you have housing that your residents can afford, and a range of housing choices available? Is the educational attainment of your school systems improving ? B-list Slide 18 Is leadership strong in your community? Is tolerance and diversity strong in your community? Do your have strong infrastructure systems? Are people involved in community activities? Do you have a strong healthcare delivery system? C-list Slide 19 Litmus ItemAB Short term fiscal strength?LowMedium Not dependent on one /small # businesses? LowMedium Quality of jobs?LowHigh Educational attainment?LowHigh Lack of crime?Medium Housing cost?LowHigh Leadership?Medium Diverse range of people?MediumLow Strategy?? Slide 20 Strategy IdeasAB Short term fiscal strength?ConsolidationMonitor Not dependent on one /small # businesses? DiversificationMedium Quality of jobs?Community College Linkage Incubator Educational attainment?LowHigh Lack of crime?Support Police Budget Housing cost?LowHousing Diversity Leadership?Medium Diverse range of people?MediumLow Slide 21 Strategic Perspective Tactical Opportunistic Organized Delusion Clueless Apathy Hostile Waters Slide 22 Slide 23 Do you know how your community is doing? Who are your partners (if any)? Do you know where you want to go? Are you brave enough to start on that path? Slide 24 Della Rucker, AICP, CEcD The Wise Economy Workshop www.wiseeconomy.com Della.rucker@wiseeconomy.com 513.288.6613 @dellarucker Della Rucker AICP CEcD Also on LinkedIn and Google+ James Kinnett, CEcD, FM, EDFP The Kinnett Consulting Group www.kinnett.biz Jim@kinnett.biz 812.290.5663 www.linkedin.com/in/jameskinnett Mark Barbash, FM Economic Development Consulting www.markbarbashconsulting.com Mark.barbash@gmail.com 614.774.7599 www.linkedin.com/in/markbarbash