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Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
Traditional & rural economic developmentupload
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Traditional & rural economic developmentupload

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John Turner presentation …

John Turner presentation
4/27/12
USM

Published in: Education, Technology, Business
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  • 1. A Practitioner’s Point of View Presented by: John Turner Director, Economic Development Entergy Mississippi, Inc. April 27,2012
  • 2. Overview Introduction Definition of Economic Development Traditional “Industrial” Economic Development  Strategic Allies  Functions in the Process of Economic Development Rural Economic Development  Innovation and Entrepreneurialism  Q&A
  • 3. Economic Development Defined Wikipedia  The scope of economic development includes the process and policies by which a nation improves the economic, political and social well- being of its people.  The sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. TIP Strategies  The use of public resources to stimulate private investment
  • 4. Mississippi Strategic Allies Governor’s Office Mississippi Development Authority Public Sector ResourcesPrivate Sector (Universities, Community Engagement Colleges, Miss. Dept. Employment Security, Miss. Technology Alliance, etc. Utilities Local Economic Development Organizations
  • 5. The Competitive Nature of Economic Development Intense competition between communities, states and nations Struggle to attract and retain businesses  Tax incentives, investment capital, donated land, utility rate discounts, etc. How Success is Measured  Job creation, economic output and increase in taxable basis
  • 6. Key Functions of the Economic DevelopmentProcess  Attracting New Business, Retain & Grow Existing Business  Business Development ○ Targeted Industries/Cluster Analysis ○ Lead Generation TARGET INDUSTRIES IN MISSISSIPPI AEROSPACE/AVIATION FOOD PROCESSING AUTOMOTIVE ASSEMBLY METAL FABRICATION & STEEL AUTOMOTIVE SUPPLIERS PLASTICS/POLYMERS/CHEMICALS CONTACT CENTERS SHARED SERVICES CENTERS COMMUNICAITONS & INFORMATION SHIPBUILDING TECHNOLOGY TIMBER/WOOD PRODUCTS REMOTE DATA CENTERS WAREHOUSE & DISTRIBUTION DEFENSE/HOMELAND SECURITY
  • 7. Key Functions of the Economic DevelopmentProcess  Community Development – better described as competitiveness  Marketable Assets SITE QUALIFICATION PROCESS  Work Force  Incentives  CONTROL OF LAND  SITE ASSESSMENTS  TRANSPORTATION INFRASTRUCTURE IMPROVEMENTS  UTILITY INFRASTRUCTURE IMPROVEMENTS  ANNEXATION & ZONING  DETAILED DEVELOPMENT PLAN
  • 8. Key Functions of the Economic DevelopmentProcess  Business Retention & Expansion  Facilitate Expansion of Existing Businesses ○ Corporate Headquarter Calls ○ Investment in the Local Assets ○ Mississippi Priority 1 Program ○ Innovative Engineering Program  Retain “At Risk” Companies
  • 9. Key Functions of the Economic DevelopmentProcess  Research & Marketing  Access to demographic information for Request for Proposals ○ Population ○ Education Attainment ○ Available Work Force ○ Location Advantages  Websites ○ Available Sites & Buildings ○ Quality of Life ○ Work Force
  • 10. Rural Economic Development Think Outside of the Box – identify your niche  Some of the same functions, but understand your limitations! ○ Entrepreneurial & Innovative ○ Natural & Physical Resources (waterways, railroads, colleges, etc.) ○ Creative Economy ○ Small Business (more not bigger) Successful Economic Development is about developing a strategy & going for it!
  • 11. Just a Few Examples
  • 12. Boomtown USA http://youtu.be/PBydD-BgSMw
  • 13. Mississippi Creative Economyhttp://www.mscreativeeconomy.com/blues.php
  • 14. Mississippi Websites to Visit Mississippi Creative Economyhttp://www.mscreativeeconomy.com Mississippi Economic Councilhttp://www.msmec.com Mississippi Economic Development Councilhttp://www.medc.ms Mississippi Development Authorityhttp://mississippi.org Mississippi Workshttp://www.mississippiworks.org
  • 15. Q&A John Turner Director, Economic Development Entergy Mississippi, Inc. jturner@entergy.com

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