The Creative Economy: Great opportunities

for Waunakee

BEST Conference | May 15, 2012

Trends in Economic Development• Attraction• Retention• Expansion• Quality of life• Community

…it’s all about investing in human talent, community and creativity. People are the main driver of economic development.

A new focus on creativity

“Creativity is not new and neither is economics, but

what is new is the nature and extent of the relationship

Between them, and how they combine to createextraordinary value and wealth.”

John HowkinsThe Creative Economy:

How people make money from ideas, 2001

What is the Creative Economy?

• Creative industries• Creative workforce• Creative communities,

regions, states, countries•

…the intersection of the three is the Creative Economy.

Creative Industries• Museums and

Collectionso Museumso Zoos/Botanical Gardenso Historical Siteso Planetariums

• Design and Publishingo Architectureo Designo Publishingo Advertising

• Visual Arts & Photographyo Craftso Visual Artso Photographyo Supplies and Services

• Performing Artso Musico Theatero Danceo Operao Services and

Facilitieso Performers

• Film, Radio and TVo Motion Pictureso Televisiono Radio

• Arts Schools & Serviceso Arts Councilso School/Instructiono Agents

12,953 arts-related businesses in Wisconsin, employing 49,526 people (as of Jan. 2012)

Wisconsin’s creative economy…

• A community-based industry• All about asset-based community

development• Attracts visitors/engages

residents/strengthens community ties• Vibrant, healthy, “livable” communities• Integral to business/community

development• Local jobs that can’t be outsourced• Leverages public and private revenue

Why should we care?• Great societies are known and remembered for their

arts and creativity.• Creativity is the currency of the 21st century

economy.• Wisconsin’s historical industries and traditional

economic development strategies don’t’ work in the 21st century economy.

• Traditional model (20th century), attracting business through tax incentives creative model (21st century), attracting residents/visitors through quality of place.

• People want to live/work/learn/play in vibrant, healthy communities.

• Many places are ahead of Wisconsin in creative economy planning, investment and development.

Creative economy examples

Driftless Film Festival and Driftless Area ArtFestival, SW Wisconsin- cultural tourism events

regional economic arts and cultural development program for SW Wisconsin,

based at UW-Platteville

Peninsula Arts and Humanities Alliance –

Door County Arts Map

What does Paducah offer?• Financial Incentives

– Loan-to-Value Ratios of up to 100%– Lower than market interest rates– Generous discounts on all closing costs

• Business Incentives– Health Insurance– Web sites at no charge– Local and national marketing and advertising

support• Cultural Incentives

– “An inordinate number of arts and cultural organizations and venues for a town its size.”

Creative development strategies

• Diversifying economy and expanding job base

• Arts, cultural and heritage tourism growth

• Creative people and industries included in community development planning on all levels

• View quality of life as development asset• Strong artistic and cultural infrastructure

helps attract creative talent• Centerpiece of downtown/community

renewal• Focus on small business/entrepreneurship• Creativity should be part of civic agenda

Creative development resources