Exploring Your Region’s Economic & Demographic Foundation
Module Two
Session Overview• Examine the current economic development
strategies being pursued within the region’s communities or counties
• Explore the region’s demographic and workforce features
• Deliverable: Assessment of the region’s strengths and concerns
• HQP: Prepare a summary of key findings
Producing a High Quality Plan: The Essential Components
Evidence-Based
Focused on Regional Economic
Development
Aligned with Vision &
Goals
Broadly Supported
Practical
Team’sRegional
Plan
DEFINING ECONOMIC DEVELOPMENT:
PROCEED WITH C.A.R.E.
Elements of Economic Development
Economy• System for meeting the needs and
wants of people in a particular geographic area
Development
• Improvement in the well-being of residents in a particular geographic area
Economic Developmen
t
• An expansion of the economic base through efficient allocation and use of available resources
GOAL: An improved quality of life for people in the region
Source: Barta, et al., 2010
The C.A.R.E. Model
Creation• Encourage the formation of
new businesses in the region
Attraction• Recruit industries or
businesses to the region
Retention• Maintain or strengthen
existing firms in the region
Expansion• Encourage the growth of
existing firms in the region
C.A.R.E.
Group Activity• Categorize activities using the
C.A.R.E. model• Identify common activities, major
differences• Examine the balance between
activities in each component of the C.A.R.E. model
EXPLORING THE DEMOGRAPHIC FEATURES OF YOUR REGION
Major Demographic Characteristics
For more data, go to: http://quickfacts.census.gov/qfd/index.html
Category Key Variables of Interest
Population Population Size Gender Race & Ethnic Composition Age Structure Components of Population Change Population Projections
Household & Housing Number of Households Persons Per Household Type of Households Housing Tenure
Education & Income Educational Attainment Geographic Mobility by Education Median Household Income Persons in Poverty
Health Mortality – Length of Life Morbidity – How Healthy People Feel
Data Analysis Options• Cross-sectional – look at data at
one point in time
• Comparative – examine data in your county relative to other counties
• Longitudinal – focus on changes in the data over time
What to Look for• Conditions the data describe
• Direction of change
• Intensity of change
• Comparison of counties in the region
• Overall picture the data paint
Your Turn – Dig In!
Skilled/unskilled Labor force participation
rate Unemployment rate Occupation mix Experience/age
Your Region’s Workforce
Identifying Skills in the Region
/
INSERT YOUR REGION’S CHART
LIKE THIS EXAMPLE HERE
Evidence Based: What Matters Most for the Regional Plan
• Concerns• Assets• Significant trends• Other
Looking Ahead: Module Three • Investigate the region’s economic
advantage• Explore regional data to identify regional
industrial clusters• Deliverable: Select industry clusters for
further exploration• HQP: Draft a rationale for industries
selected
Preparing for Module Three
Final Thoughts
• Anything need clarification?
• SET contact persons:
Extension Service:
State USDA RD: