Know Your Region: How I Learned to Stop Worrying and Love my CEDS

Know Your Region:Comprehensive Economic Development Strategies NADO 2010 Annual Training Conference | 08.28.10

or:
How I Learned to Stop Worrying and Love my CEDS
Image by: fivetwelvestudios.com

“Economic Development Districts are the best kept secret in economic development.”
That is not a good thing.

http://www.knowyourregion.org

KYR: User-focused curriculum

KYR: Key findings
Clusters not widely embraced – need practical guidance
Regional collaboration suffers from lack of concrete tools
Training has an impact

Source: New York Times

Training overview
Key trends in U.S. economy and what they mean for regions
Positioning EDDs as leaders in economic development
Creating a high-impact CEDS that builds partnerships

Section 1
U.S. economic trends and what they mean for regions

The Great Recession

Growth driving growth 2002-2007
Source: EMSI. Industries selected based on job growth. Not all industries shown.

Source: U.S. Bureau of Economic Analysis

“The Great Reset” 2007-2009
Housing collapse
Financial crisis
5-7 million jobs lost
10% unemployment
Spending down
Foreclosures
Note: The Great Reset is the title of a recent book by Richard Florida.

Visualizing The Great Reset
http://tipstrategies.com/archive/geography-of-jobs

Brookings MetroMonitor (June 09)
Overall Performance Index ranks metros on change in job growth, unemployment rate, gross metro product, and housing market.
http://www.brookings.edu/metro/MetroMonitor.aspx

Economic “recovery” 2009-
GDP growing again, but high unemployment remains
Housing prices stabilizing, but foreclosures still rising
Uncertainty has consumers and investors on sidelines
Greater uncertainty about what will drive future growth

MSNBC Adversity Index
http://www.msnbc.msn.com/id/29976394/ns/business-stocks_and_economy

USA Today Jobs Forecast
http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm

What does it mean for regions?
Fewer relocation and expansion projects means revisiting the service model
Concentrating on innovation and entrepreneurship means revisiting expectations and performance measures
Leadership and collaboration will determine winners

Are we focused on real job creators?
50% of startups fail within five years, but 80% of jobs created by startups remain.
Source: YourEconomy.org, Kauffman Foundation.

Are we allocating resources correctly?
Source: YourEconomy.org

Are we celebrating the right things?
Innovation-based economic development is a long-term play. It can take years for research-intensive products and services to enter the market and start providing return on investment in the form of jobs and tax base.
How do we make innovation and entrepreneurship sexy?
“Companies are not in the business of creating jobs. In fact, they want to operate with as few jobs as possible.”
Note: Quote is from Jon Roberts, TIP Strategies.

Are we overcoming silos?
% Population Age 25+ by Race/Ethnicity in U.S. with an Associate’s Degree or Higher
56% of high-wage jobs today (median pay > U.S. median of $37,315) require at least an associate’s degree.
66% of new high-wage jobs expected during 2010-2020 will require at least an associate’s degree.
Source: U.S. Census Bureau, EMSI

Austin, Texas
(case study in why best practices
shouldn’t go unquestioned)

Austin Accolades 2010
Source: http://www.pswrealestate.com/blog/2010/05/austins-2010-accolades

Sustainable community?
Ratio of median residential sales price to median wage by zip code in Austin, TX
What happens when economic development, transportation, land use, and housing planning are done in silos?
Source: EMSI, Decision Data Resources, Austin Board of REALTORS. Residential median sales prices are YTD 2010 as of July. Map shows only those zip codes with at least 10 home sales.

Discussion
How has The Great Recession impacted your thinking about economic development?
What have you learned about the strengths and weaknesses of your organization?

Section 2
Comprehensive Economic Development Strategy
(Process)

Regional collaboration
“Despite the growing need for collaboration, regional action is still the exception rather than the rule.”
“Regional collaboration
remains an unnatural act between non-consenting adults.”
http://www.compete.org/publications/detail/1384/leading-regional-innovation-clusters

Effective regional leadership
Tell the region’s story
Get the right people at the table to do the right thing
Produce regional value
Build an innovation ecosystem
Establish indicators and metrics
Source: Council on Competitiveness. Collaborate. June 2010.

Who’s at our table?
Public officials
Regional leaders
Workforce boards
Higher education
Minority groups
Labor groups
Businesses
http://www.eda.gov/PDF/CEDSFlyer081706.pdf

Key questions
Why should people participate in the CEDS process?
What is EDD value proposition—why should people stay engaged after call for projects?
How must EDDs adapt to fill emerging markets?

Workforce boards
Board membership majority business
Could they serve as your CEDS strategy committee?
Incorporate target industry/occupation lists into CEDS
Source: Workforce Solutions Capital Area. http://www.wfscapitalarea.com.

Telling the talent story
Source: U.S. Census Bureau, Workforce Solutions Capital Area, Workforce Solutions Rural Capital Area. Calculations by CAPCOG. UI is an abbreviation for unemployment insurance and may not represent the true unemployed population.

Creating actionable information
Source: Workforce Solutions Capital Area, Workforce Solutions Rural Capital Area. Calculations by CAPCOG. UI is an abbreviation for unemployment insurance and may not represent the true unemployed population.

School districts
Identify high-growth, high-wage careers
Help prioritize which career clusters and pathways to offer
Chart demographics by district area
Source: States’ Career Clusters Initiative. http://www.careerclusters.org.

Linking education/talent/economy
Source: EMSI. Data is for Southeast Economic Development Commission 12-county region in NC.

EDCs/Chambers
Identify target clusters/industries for local economic developers
Consider economic gardening as entrepreneurship strategy
Develop expertise in responding to information needs

Economic gardening
http://www.growfl.com

Regional delivery systems
EDDs have strong partnership with federal agencies
Could expand focus to serve as intermediary linking state and local economic development
State associations need to be more active in the economic development arena

http://www.maine.gov/spo/specialprojects/qualityofplace/documents/MobilizeMaine%204%2010%2009_one%20page%20handout.pdf

http://www.kvcog.org/Mobilize%20Maine%20PPT%203%2031-RB_FK.pdf

Assignment 1: How to engage?
Public officials
Regional leaders
Workforce boards
Higher education
Minority groups
Labor groups
Businesses

Assignment 2: New markets
What challenges do you face in growing your EDD programs?
Identify three things you would do with more money and staff
How can partnering with other EDDs and state associations help launch new initiatives?

How I Learned to Stop Worrying and Love my CEDS
Image by: fivetwelvestudios.com

Section 3
Comprehensive Economic Development Strategy
(Plan)

What makes a good CEDS?
Visionary and achievable
Visually compelling—like it or not, it’s part of EDD brand
Multimedia—recognizes that people consume information many different ways
Accessible—avoids acronyms and jargon when possible

Creating regional identity
http://www.floridasgreatnorthwest.com

Securing local buy-in

http://www.mncompass.org/twincities/index.php

Collaborating across programs
http://www.mncompass.org/aging/index.php

High-impact reports
“Good information, presented in a neutral manner, can move policy.”
http://www.jointventure.org/publicatons/siliconvalleyindex.html
http://www.longislandindex.org

CEDS report examples
Good
Needs Improvement

Social media

Social media
Will never replace face-to-face customer service, but people increasingly expect it
Fastest growing demographic on Facebook is women 55+
Efficient outreach mechanism for urban and rural regions

Targeting current/future population
Population: 1,530

Time commitment can be minimal

Data analysis
Free data tools have leveled the playing field considerably
Data availability still a challenge in very rural areas, but smart people are working on it
Find partners to share research staff and data resources

Rural clusters
http://www.ibrc.indiana.edu/innovation/index.html

Rural competitiveness
http://www.isc.hbs.edu/econ-rural.htm

Rural innovation
http://www.energizingentrepreneurs.org

Step 1: Data analysis
http://www.rupri.org/Forms/Dabson_TexasRuralChallenge_May2010.pdf

http://www.rupri.org/Forms/Dabson_TexasRuralChallenge_May2010.pdf
Step 2: Goals and strategies


Step 3: Implementation activities

Leverage existing resources

Overcoming boundaries
http://statsamerica.org

EDD geography data

SCPDC cluster analysis

NEOEDD innovation index

Creating links to transportation
http://lehdmap4.did.census.gov/themap4/

Hardeeville commute shed
Source: Census OnTheMap

Visualizing regions
Tulsa Labor Shed
53% of Tulsa’s workforce commutes from outside the city and 33% from outside Tulsa County.
Source: Census OnTheMap

Benchmarking
http://www.zoomprospector.com

Assign weights to key indicators

Quickly find peer regions

Asset mapping
http://www.compete.org

Guidebook information
Key measures of innovation and where to get the data
Framework for inventorying assets of a region
Survey and interview templates for collecting data

Scenario planning exercise
Strategic planning is of limited value because things rarely go according to plan
EDDs operate without much leverage—subject to many factors outside control
Instructive to think about what the future may hold in addition to planning specific outcomes

+
A
B
Collaboration
_
+
Funding
C
D
_

Assignment
Describe your organization—role, activities, impact
Describe your region—state of economy, workforce
Back to present—what should EDA know about the future of EDDs in your scenario?

Brian Kelsey
512-731-7851
brian@civicanalytics.com
Special thanks to EMSI and Decision Data Resources for making data available for this presentation.
http://civicanalytics.com
http://economicmodeling.com
@civicanalytics
facebook.com/brianjkelsey
http://www.decisiondata.net
linkedin.com/in/brianjkelsey

Know Your Region: How I Learned to Stop Worrying and Love my CEDS

by Civic Analytics LLC on Aug 30, 2010

Accessibility

Tags

Upload Details

Usage Rights

1 Embed 88

Statistics

Know Your Region: How I Learned to Stop Worrying and Love my CEDS — Presentation Transcript