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Next economy by leed for san diego csl net conference

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  • 1. “ We are in a ‘self-help’ regional economicenvironment, and the trick is to overcome theinherent competition between political entitieswithin regions. ” —Marek Gootman, Brookings Institute
  • 2. Next Economy: Will result in…A Capital RegionProsperity Plan
  • 3. Economic Realities:• Government, construction, and related finance sectors hardest hit• Region jobless rate = 12% (vs. 8.3% nationally)• In terms of growth, Sacramento ranks number 345 out of 372 US metro regions• Employment level today is on par with Y2000 levels
  • 4. Economic Forecast:• Forecasts indicate a regional recovery is years away• Waiting for political leaders to take action may not work• Lack of State’s ability to drive job creation and business growth is forcing regional leaders to lead from the bottom-up
  • 5. Next Economy:It’s all about… Generating jobs and creating wealth
  • 6. 11-Month Summary: Formed coalition of 260+ private/public sector organizations Fielded leadership and project steering groups Completed in-depth research and analysis Convened many public work sessions Conducted 50 formal outreach presentations with more ahead
  • 7. Research Conducted:• Regional Trends• Regional Economic Conditions• Regional Cluster Analysis• Base Economic Foundations Evaluation• Economic Development Ecosystem Analysis• Innovations Scorecard
  • 8. Regional Cluster Identification:Where to focus our energy?
  • 9. Research uncovered our strongest business clusters:1. Life sciences & Health services. $8.64B annual output. 98,646 total employment.2. Information & Communications Technology. $9.69B annual output. 30,096 total employment.3. Agriculture & Food production. $3.4B annual output. 37,442 total employment.4. Advanced manufacturing. $1.74B annual output. 11,409 total employment.5. Clean Energy Technology. $846M annual output. 3,015 total employment.
  • 10. Fielded workgroups by clusters areas to uncover impediments & opportunitiesFood & Advanced Information Health & CleanAgriculture Manufacturing & Comm. Life sciences Energy Technology Technology
  • 11. Research also uncovered our strongest economic foundations:6. Education & Knowledge Creation. $1.11B annual output. 16,618 total employment.7. Knowledge intensive business and Financial services. $18.22B annual output. 69,683 total employment.
  • 12. Fielded workgroups by clusters areas to uncover impediments & opportunitiesFood & Advanced Information Health & CleanAgriculture Manufacturing & Comm. Life sciences Energy Technology TechnologyInnovations (Private capital; tech transfer; entrepreneur support)
  • 13. Fielded workgroups by clusters areas to uncover impediments & opportunitiesFood & Advanced Information Health & CleanAgriculture Manufacturing & Comm. Life sciences Energy Technology TechnologyInnovations (Private capital; tech transfer; entrepreneur support) Regional Identity
  • 14. Fielded workgroups by clusters areas to uncover impediments & opportunitiesFood & Advanced Information Health & CleanAgriculture Manufacturing & Comm. Life sciences Energy Technology TechnologyInnovations (Private capital; tech transfer; entrepreneur support) Regional Identity Education / Workforce / Talent
  • 15. Next Economy identified 8 specific inter-relatedregional economic drivers for joint action: CREATE new public- private capital INSPIRE INCREASE investment a shared entrepreneur streams regional image & small biz and leverage support our strengths INVEST CAPITALIZE in retaining, on university educating & strengths for attracting tech transfer & talent commercialization INVEST in region’s REMOVE economic economic & infrastructure INCREASE regulatory & cultural & foreign direct barriers at all civic investment & levels amenities export activity
  • 16. Stay Connected!: Sign up for news and updates atwww.nexteconomycapitalregion.org