MSP Regional Indicators Dashboard - 5.29.2015
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The MSP Regional Indicators Dashboard is a set of shared metrics that will track the region's change on critical economic, environmental and social outcomes. Measuring change in the areas that matter most for continued long-term success will help improve our region's economic competitiveness. This slide deck was presented at the launch of the MSP Regional Indicators Dashboard on May 29, 2015. To view the MSP Regional Indicators dashboard please visit greatermsp.org/regionalindicatordashboard.
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MSP Regional Indicators Dashboard - 5.29.2015
- 2. DAVID MORTENSON MSP Regional Indicators Dashboard #MSPMeasures CHAIRMAN | M.A. MORTENSON CHAIR | ITASCA PROJECT
- 3. MSP Regional Indicators Dashboard PROJECT DESCRIPTION: WHAT A set of shared, objective metrics to track the Greater MSP region’s overall success on critical economic, environmental and social outcomes. #MSPMeasures • Clearer view of our competitive position today • Look ahead at our future with trends • Shared definition of “competitiveness” • Enhanced accountability for results
- 4. The Process 14 months 50+ Partner Organizations 30 Stakeholder Input Sessions 25+ Dashboards Reviewed (US & Global) 1,000+ Potential Metrics Considered MSP Regional Indicators Dashboard #MSPMeasures The Team
- 5. BUILDING THE DASHBOARD METRICS: Rigorous set of criteria used to select metrics to populate categories. Data should be: OUTCOME Not input UNDERSTANDABLE Not technical CURRENT & ACCESSIBLE ACTUAL NUMBER, Not relative ranking METRO MEASURE comparable to peers PREDICTIVE, not backward- looking POTENTIAL to Influence through action MSP Regional Indicators Dashboard #MSPMeasures
- 6. BUILDING THE DASHBOARD MSP Regional Indicators Dashboard #MSPMeasures CATEGORIES: The new dashboard is a customized set of measurements most important to leaders in this region. Business Vitality Economy Talent Education Infrastructure Environment Livability
- 7. 11 PEER REGIONS Competitive Benchmarking BOSTON DALLAS AUSTIN ATLANTA CHICAGO PITTSBURGH DENVER PHOENIX SAN FRANCISCO SEATTLE PORTLAND
- 8. 2015 RESULTS CONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIES| RESEARC ARTNERS | ECONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIE CONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIES | RESEARC ARTNERS | ECONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITI MSP Regional Indicators Dashboard #MSPMeasures NOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIES | RESEARCH TNERS | ECONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIE CONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIES | RESEARCH ARTNERS | ECONOMY | BUSINESS VITALITY | TALENT | EDUCATION | INFRASTRUCTURE | ENVIRONMENT | LIVABILITY | VITAL STATISTICS | PEER CITIE
- 9. MSP Regional Indicators Dashboard #MSPMeasures VITAL STATS We will use these measures to track our region’s performance.• More jobs than expected given population • Highest labor force participation, lowest unemployment • Growth from high value jobs
- 10. WE ARE 4 OF 12 REGION San Francisco, CA Seattle, WA Boston, MA Minneapolis-St Paul, MN TOPPEERS AVERAGE RANK 4.32 4.58 4.79 5.03 Austin, TX Portland, OR Denver, CO CLOSE RIVALS 5.59 6.47 6.53 Dallas, TX Chicago, IL Atlanta, GA Pittsburgh, PA Phoenix, AZ MORE DISTANT 7.11 7.14 7.32 8.63 9.39 MSP Regional Indicators Dashboard #MSPMeasures
- 11. INFRASTRUCTURE - 3.7 LIVABILITY - 4 ENVIRONMENT - 4 ECONOMY - 6 TALENT - 6.2 BUSINESS VITALITY - 7 EDUCATION - NA MSP RANK BY CATEGORY
- 12. SWOT ANALYSIS OF METRICS STRENGTHS WEAKNESSES OPPORTUNITIES THREATS HELPFUL HARMFUL INTERNALORIGINEXTERNALORIGIN People are Involved Here Strong Infrastructure Racial Inclusion Talent Availability
- 13. • Our economy is performing well today • Competing well within a strong set of regions • Raw materials abundant now, but becoming limited • Weakness in key talent measures • Lag peers in racial inclusion KEY LEARNING MSP Regional Indicators Dashboard #MSPMeasures
- 14. A NEW TOOL TO HELP LEADERS ALIGN AROUND ISSUES MSP Regional Indicators Dashboard #MSPMeasures
Editor's Notes
- Region improvement, not marketing
- Thanks to so many people
- We want to measure those areas critical to achieving a more competitive region – one that is trending more equitable, global, sustainable and innovative. Because of stringent criteria, not everything worth measuring is on the dashboard For example, here are a few issues the partnership wanted to measure but couldn’t get a good metric: Foreign Direct Investment Capital investment Freight movement
- This is a challenge peer set – not easy competition If we are doing well against these regions, confidence we will be tracking with the most ascendant, globally competitive places See not the largest (NY, LA) and not just upper Midwest (Madison, Sioux Falls, Des Moines)
- The top 3 tell us a lot about what this dashboard measures: these are innovative, globally-recognized regions that are growing their populations and business base By the numbers, we are ahead of a second tier of regions that get lots of press as being great places – Austin, Portland, Denver – more evidence we need to proudly tell our region’s story Half of our peer regions are closely ranked Caution about limits of this ranking: assumes all metrics are equally important to our competitiveness, which they aren’t. And everyone has a slightly different view on the priority order But it gives us a clear, data-driven look at which regions we should recognize as leaders and those we should be watching as rising competitors
- Here’s how our region’s average scores stack up by category, Pretty clear break between categories of strength and areas needing improvement best overall on infrastructure and worst on business vitality A call to action for a business audience that economy, talent and vitality are all middling to lagging peers Education doesn’t factor into the averages because state tests were used to measure, not comparable to peers
- Looking at our strengths and weaknesses based on dashboard data See a strong list of metrics where we rank #1 against our 11 peer regions – note these aren’t in any one category but strengths across a range Areas of under-performance are not surprising to many of us – but if that’s so, then what’s our plan as a region to improve?