Econ Dev Presentation Ocma 02 25 09
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Econ Dev Presentation Ocma 02 25 09

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Presentation to Ohio City County Management Assoc.

Presentation to Ohio City County Management Assoc.

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  • 1. Ten Tools for Economic Development Della G. Rucker, AICP JACOBS | Advance Planning Group Ohio City/County Management Association February 25, 2009
  • 2. What are the Goals of Economic Development?
    • Jobs
    • Tax Base
    • Diversify
    • Get ahead of change
    • Improve quality of jobs
    • Keep young people
    • Others?
  • 3. What are the barriers to economic development?
    • Hanging on to hope for obsolete industries
    • Unwilling to make investments/take risks
    • Looking for one-shot solutions
    • There’s no obvious solution paralysis.
    • Chasing after anything that comes along, whether it fits or not
    • Who’s gonna do it?
  • 4. Ten Key Tools:
    • Know thyself.
    • Focus on your assets.
    • Make a plan to get what you want.
    • Retain your healthy businesses, especially small ones.
    • Recruit and grow small businesses in healthy segments.
  • 5. Ten Simple Steps:
    • Prune your retail.
    • Brand, but do something with it.
    • Use your hidden resources.
    • Keep your focus.
    • Be in it for the long haul.
  • 6. 1. Know thyself.
    • What does your community need?
      • Jobs for residents?
      • Income/earnings taxes?
    • What parts of town need attention?
    • What needs to happen ?
      • Growth
      • Change in quality
      • Property taxes?
      • Improved reputation/ appearance?
      • Improved appearance
      • New jobs
  • 7. 2. Focus on your assets.
    • What are these?
      • Provide/do/support better than others.
      • Unique to your community.
    • How do you find them?
      • Analysis - high growth/high share sectors.
      • Examine successful, similar places.
      • Ask your business owners, leaders, residents.
  • 8. 3. Make a Plan to Get What You Want
    • Ambitious … visionary … impossible?
    • Identify a small number of prime sectors to target (and the businesses that support them).
    • Build buy-in throughout.
    • Put it in writing.
    • Remember:
      • Not all economic development is good economic development.
      • Not all short-term gains are worth the long-term costs .
      • Sometimes it’s best to let go.
  • 9. 4. Retain your healthy businesses (especially the smaller ones)
    • Who is healthy?
      • Growing --sales, employment, site
      • Fits target sectors (or has synergy with them)
      • Benefits the community
    • What’s so great about small businesses?
      • Biggest source of job growth
      • More likely to be locally owned (and stay when they get bigger)
      • Often better able to adapt to economic changes
      • Your target industry sectors may be dominated by small businesses.
  • 10. 4. Retain your healthy businesses, Part 2
    • How do you retain them?
      • Talk frequently and honestly.
      • Take their concerns seriously
      • Fix them if you can.
      • Help them find other things they need (e.g, loans).
      • Make sure they know that you value them.
      • Encourage them to participate in the community.
      • Thank them.
  • 11. 5. Recruit and Grow Small Businesses
    • How do we find them?
      • Word of mouth
      • Next door
      • Potential entrepreneurs
      • Business incubator tenants
    • How do we help them grow?
      • Talk to them
      • Listen to them
      • Know where to find help
      • Help them talk to each other
  • 12. 6. Prune Your Retail
    • Why?
      • Most markets have too much
      • New retail vacant old retail
      • Obsolete retail depresses market demand & values
      • Much obsolete retail has a better potential use
      • Use your zoning to move that way
  • 13. 7. Brand, but do something with it.
    • Brands are valuable.
    • A cool brand won’t do the job alone.
    • What else can you do with it?
      • Traditional
      • Internet
      • High-touch
    • Stick to the story.
  • 14. 8. Use your hidden resources
    • Non profit organizations
    • Charities and Foundations
    • Service Groups
    • Schools
    • What can they do?
      • Planning
      • Community Improvements
      • Wisdom/Expertise
      • Ambassadors
  • 15. 9. Keep your focus
    • Hard decisions are a fact of life.
    • A wobble may cost you the ability to use the plan
    • Communicate to everyone (and refer to the plan)
    • Remember:
      • You can’t change the past.
      • Not all economic development is good economic development.
      • Not all short-term gains are worth the long-term costs .
      • Sometimes it’s best to let go.
  • 16. 10. Be in it for the long haul
    • Quick solutions usually don’t work, or not for long
    • Celebrate every small success
    • Communicate the Vision
    • Stay the course!
  • 17. Questions? Insights? Good ideas?
  • 18.
    • “ Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race”
    • - Calvin Coolidge.
  • 19. Thank you !
    • Della G. Rucker, AICP
    • JACOBS | Advance Planning Group
    • 1880 Waycross Road
    • Cincinnati, OH 45240
    • Phone: 513-288-6613
    • [email_address]