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8/8/2019 Describing a Collaborative Regional Economic Development Framework
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Describing a Collaborative
Regional Economic
Development Framework
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Module 1
Describing a CollaborativeRegional EconomicDevelopment Framework
Leading the Planning Effort
Detecting Regional Advantage
Formulating Strategies
Executing Your Plan
Module Objectives*Defining EconomicDevelopment
*Making the casefor regional planning
*Defining principlesfor regional planning
*Identifying & overcomingobstacles
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Objectives
I. Define and understand key aspects of economic
development
II. Make the case for conducting a regional strategy
in a globally competitive environment
III. Define principles for collaborative regional
economic development planning framework
IV. Identify mechanisms for overcoming obstacles tothe collaborative regional economic development
planningframework
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I.
Definition of EconomicDevelopment
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Defining Economic Development
Group Discussion
How do you define economic
development?
Why do you do economic development?
What is economic development success?
Whose behavior are we trying to influence? What would happen anyway?
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Conflicting Philosophies?
Economic development aims to accomplish sometimescontradictory goals
Create jobs
Create wealth
How we accomplish economic development involvesconflicting approaches that
Exploit our existing economic strengths
Create new economic strengths
Economic development that actually accomplishes
change must primarily engage The corporate, government, and academic leaders
Grassroots citizens and community organizations
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II.
Make the Case for Conducting aRegional Strategy in a Globally
Competitive Environment
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10 Mega-Trends
in the Global Economy!"Service has become (and will remain) the dominant
competitive differentiator in much of the economy
#"Knowledge-intensive activities have the highest value and
demand increasing knowledge, skills, and abilities$"Work is polarizing in which wages tend to reflect
knowledge, skills, and abilities
%"Outsourcing divides value-chain functions into moreproductive, interdependent activities
&"The workforce is aging and increasingly replacement talentmust come from elsewhere
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'"Job growth occurs as firms find (or re-find) economic value inthe marketplace
("Industrial transitions are happening more quickly as product lifecycles shorten
)"Reduced transportation and telecommunication costs contributeto the increased importance of logistics in meeting the
shortening timeframes allowed to move goods and information
*"Regions and communities are becoming more specialized and
connected to other non-contiguous places!+"Places are more frequently connecting to places with
complementary specializations
10 Mega-Trends
in the Global Economy (cont.)
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10 Mega-Trends for
Economic Developers!"Leaders continue to emphasize job creation as the ultimate goalfor economic development
#"Many public sector leaders still understand economicdevelopment strategies in the three waveswhich focus on
companies rather than industries$"Private leadership is changing due to
Loss of corporate headquarters and priorities of branch plants
Focus on the global value-chain
Difficulty in engaging entrepreneurial leaders
%"Traditional economic development doesnt work well with fewerlarge opportunities
&"Economic development wins frequentlyresult from large public investments
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'"Businesses increasingly incorporating incentives in their businesslocation calculus
("Public investors are becoming more concerned about theeffectiveness/transparency of public investments
)"Economic developers require new skills Focus less on making sales and more on conducting market
intelligence
Facilitate linkages among a fragmented network of participants
Focus on the community or region product comprehensively
*"Economic developers are realizing that workforce talent can bean important competitive differentiator
!+"Economic development is undergoing agenerational shift that will likelytransform the profession
10 Mega-trends for
Economic Developers (cont.)
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Implications from these trends
Regionalism matters!
Flexibility matters
Context matters
Process matters (planning is not an event) Success requires capacity, buy-in, and
legitimacy
Mindsets must be aligned to new realities ofwhat works in economic development
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Implications from these trends
Continuous search for the next economicopportunity and understanding the state ofcurrent industries
Need comprehensive view of developmentthat links economic development withworkforce development and education
Consider collaborative and sustainablesystems for implementing economicdevelopment
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Lessons from economic and economic
development trends
Successful places have
Leaders that recognize the new realities of how economicdevelopment works
Regional ties that help to create a larger number ofopportunities
A recognition that opportunities arise within a globaleconomic context for which leaders can be prepared
An understanding of their current industry strengths and
weaknesses Flexibility and adaptability that will allow improved
response to opportunities
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Lessons from economic and economic
development trends (cont.) Successful places have
Buy-in and legitimacy for that preparation
The capacity to respond (in terms of appropriate assetsand skilled professionals to facilitate) well before
opportunities present themselves A comprehensive view of development that links
economic development with community, workforce,and education
A mechanism for continuously searching for the next
economic opportunities
A way to evaluate whether past efforts have made asubstantial impact on the economic well-being of thecitizenry
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Rationale for Collaborative Regional
Economic Development Planning Framework
Every place needs to implement a planning
process that provides a mechanism for
continuously assessing opportunities in light of
economic change and leadership priorities and
decisions
In such a complex and ever-changing
environment, every place must consider systemsthat foster collaboration and sustainability IN
A REGIONAL CONTEXT
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III.
Define Principles for
Collaborative RegionalEconomic Development
Planning Framework
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Core Principles for the Collaborative Regional
Economic Development Planning Framework
Vision
Collaboration
Regionalism
Opportunistic
Iterative
Holistic
Fact-Based
Continuous Improvement
Prioritization
Communication
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Core Principle:
Builds on a ClearVision Definition
Clear description (image) of a preferred future state
with regional prosperity clearly defined
Significantly different from the current state Identifies impactful intervention
Why this is important
Inertia may lead to a less than optimal future state
Multiple options for a preferred future state
Many interventions have little impact or wrong impact
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Imagine Tucson as an example
Core Principle:Builds on a clearvision
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Core Principle:Collaborates Across Silos
Definition Process of working together with many public and
private stakeholders
Working with stakeholders in different but non-
contiguous places that are linked to yours
Multi-disciplinary (across policy domains)
Why this is important
Realize that the kinds of collaboration depend on
economic conditions and competitive advantages
Challenges faced involve economic and non-economic factors
No silver bullet
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Core Principle EXAMPLE:
Collaborates Across Silos
Futures 4 Kids
Alliance for Quality Education
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Core Principle:Engages Regional Participation
Definition
Geographic boundaries of the planning area
Different types of regions
Relationship with place and region
Why this is important
Context of economic trends focus on the competitive
position of the region within a global context
Planning too small may have very little impact on thefuture state
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Vision East 41 counties in eastern North Carolina
Focus on military, tourism, agriculture, advancedmanufacturing, and entrepreneurship
Texoma Regional Consortium 13 counties in northern Texas and southern Oklahoma
Focus on advanced manufacturing, and entrepreneurship
Montanas Agro-Energy Plan 32 counties and six Indian Reservations
Focus on bio-products and renewable energy developmentas tool for rural entrepreneurship
Core Principle EXAMPLE:Engages Regional Participation
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Core Principle:Exploits Unforeseen Opportunities
Definition
Requirement to continuously adjust to local conditions
and external factors
Need for flexibility in response
Why this is important
Current situation will not match any one vision of how
the world works
Possibility of unforeseen opportunities
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Core Principle EXAMPLE:Exploits Unforeseen Opportunities
NC Center for Engineering Technology
Science Foundation Arizona
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Core Principle:Makes Iterative Changes
Definition
Experimental efforts to try new strategies and tactics
Experiential in learning from ones own lessons aswell as those of others
Why this is important
The complexity of variables require trying multiple
approaches to influencing behavior
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Core Principle EXAMPLE:Makes Iterative Changes
Innovation
Frontier Arizona Pacific Mountain
Washington
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Core Principle:Embraces a Holistic Response
Definition
Systemic approach to fostering development
Multiple policy domains (e.g., workforce, community,
education, etc.) interact
Why this is important
Recognition that economic development is influenced
by a broad array of investments
Behaviors of businesses and/or talent increasinglyrespond to non-economic stimuli
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Core Principle EXAMPLE:Embraces a Holistic Response
Pittsburgh The College City brand
- Helping talented students
consider their college choices
www.campusvisit.com- Helping college bound visitors findtheir way
Experience Pittsburgh- Helping college students becomeconnected to the city
Building Bridges- Helping Pittsburgh college students
find jobs
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Core Principle:Relies on Facts
Definition Historically, economic development was driven by relationships,
opinions, perceptions, and emotional considerations
Increasingly, multiple decision makers involved and logic (e.g.,
cost considerations or market pressures) shape investmentdecisions
Places have learned more about how businesses make investmentdecisions based on behavioral patterns
Internal and external factors influence those behaviors
Why this is important Know what is
Know what others are doing
Know how to respond or compete
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Hotels & transportatservices
41,605
Basic health servic42,938
Plastics produc2,068
Farming*1,614
Concrete, brick buildinproducts2,115
Wood building products 2,5
Appliance
3,692
Textiles & appar
3,948
Business servic41,445
Financial services & insuran25,814
Arts and med17,789
Constructio11,329
$0
$10,000
$20,000
$30,000
$40,000
$50,000
0.00 0.50 1.00 1.50 2.00 2.50 3.00
Average Wage (20
Concentration(LQ
2004)
Average Wage = $24,641
Green=ExistingBlue=Emerging
Orange=Potential
Core Principle EXAMPLE:
Relies on facts
Source: US Bureau of Labor Statistics
2.5K
7.5K
15K
Net NewEmployment
*Employment in Maury Countydeclined by 539 betweenJune 2001 and June 2006
0 20
Miles
Net Employment Change in theNashville Economic Market
(June 2001 to June 2006)
35
75
35
82
70
75
82
70
Ardmore
Sherman
DALLAS
OKLAHOMA CITY
Ada
Commuting Patternsin the Texoma Region
(US Census Bureau, 2000)
4,000 Commuters
2,000 Commuters
500 Commuters
< 500 Commuters
0 30Miles
El Paso Workforce Dev Board Area Value
Chain Clusters
Concentration (LQ 2004)
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Core Principle:Improves Continuously
Definition
Benchmark to and borrow from best practices
Evaluates how well the plan and actions are workingtoward improving the baseline
Why this is important
Competition for limited resources
Improve productivity
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Core Principle EXAMPLE:
Improves continuously Maine Economic Growth Council Measures
of Growth
Joint Venture SiliconValley
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Core Principle:Sets Priorities
Definition
Economic development strategies must involve
making hard choices about where resources will be
invested
Why this is important
Limited resources
Increasing efficiency of impacts
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Core Principle EXAMPLE:Sets Priorities
Future Forward (western NC)
10 strategies related to
Improving connectivity (transportation and
communications) Improving the areas workforce (through education and
training)
Fostering innovation and entrepreneurship
Preparing for targeted market opportunities (e.g.,
appropriate sites for growth sectors)
Creating improved amenities for recreation and to appeal
to relocating knowledge workers
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Core Principle EXAMPLE:Sets Priorities (cont.)
LancasterProspers (Lancaster, PA)
7 actions related to
Fostering regional cooperation
Improving the areas understanding of its economy
Supporting research and entrepreneurship
Developing its urban centers as centers of activity
Creating industry centers of excellence, including
support for related talent development
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Core Principle:
Communicates with Stakeholders
Provide opportunities for input
Ensure transparency
Validate input and decisions
Tell people about the priorities and key actions
Celebrate the success
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Core Principle EXAMPLE:
Communicates with Stakeholders
Many methods
Traditional written
Video
Web
Blogs
Speakers bureaus
Economic summits
Media
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IV.
Identify Mechanisms for
Overcoming Key Obstacles tothe Collaborative Regional
Economic Development
Planning Framework
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Common Obstacles to the Collaborative Regional
Economic Development Planning Framework
Inertia Resistance to change
Fear of failure
Politics Taxing structure
Leadership structure
Culture Parochialism about problems
Culture of independence and self-sufficiency
The wrong focus (limiting, narrow, or inadequate) Developing real estate
Assisting business enterprises
Obtaining return on investment
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Overcoming obstacles to the collaborativeRED planning approach
Inertia
Define a clear, compelling call to action
Politics
Define an undeniable mutual benefit from action Culture
Appeal to the creed of independence and parochialism thatto help yourself, you must join with your neighbor
Wrong focus
Provide a convincing case that prosperity is not alwayscaptured in the traditional ways of thinking about economicdevelopment
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Review, Questions and
Discussions
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Collaboration for Regional Engagement
and Action to Transform an Economy
Executing
Your
Plan
Design your implementation plan
Leverage your resources
Monitor your progress
Promote your success
Describe your future
Define your actions
Focus your energy
Formulating Strategies
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Articulated differences in economic development
perspectives
Identified mega-trends affecting economic
development efforts
Developed a rationale for collaborative regional
economic development
Established key principles for collaborative regional
economic development
Collaborative Regional Economic Development
Planning Framework: Overview Wrap-Up