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UEDA Summit 2013 - Panel Discussion - New Definitions for Economic Development: The Public Sector Role and Metrics for Success

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Despite the attention and significant public resources devoted to promoting innovation and entrepreneurship, there has been little agreement about how to measure outcomes and progress towards achieving the larger objectives of increasing economic development.

Under a grant from EDA, the University of North Carolina and the George Washington University have been collaborating to develop new measures of performance based upon a new framework for economic development policy in order to assess capacity building outcomes and their relationship to realized economic growth outcomes. At the foundation of these metrics is a definition of economic development and a logic model that advances our understanding of economic development, differentiating it from economic growth. Speakers will discuss the implications of the definition of economic development including the role of government as a provider of infrastructure and capacity-building systems that are beyond the ability of the market to provide. Speakers will also explore how universities might increase their engagement to advance economic development through the new, exciting framework.
• Tom Guevara, Deputy Assistant Secretary for Regional
Affairs, Economic Development Administration, U.S. Department of Commerce (moderator)
• Arthur Boni, John R. Thorne Distinguished Career Professor of Entrepreneurship, Tepper School of Business, Carnegie
Mellon University
• Maryann Feldman, Principal Investigator and Heninger
Distinguished Professor, Department of Public Policy,
University of North Carolina
• Andrew Reamer, Research Professor, GW Institute of
Public Policy, George Washington University
• Bob Starzynski, Director of Business Development,
Innovation Works

Published in: Education, Business, Technology
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UEDA Summit 2013 - Panel Discussion - New Definitions for Economic Development: The Public Sector Role and Metrics for Success

  1. 1. #UEDASummit
  2. 2. Chuck Shoopman President, University Economic Development Association #UEDASummit
  3. 3. #UEDASummit
  4. 4. Tom Guevara Deputy Assistant Secretary for Regional Affairs, U.S. Economic Development Administration #UEDASummit
  5. 5. Maryann Feldman Principal Investigator and Heninger Distinguished Professor, Department of Public Policy, University of North Carolina #UEDASummit
  6. 6. Arthur Boni John R. Thorne Distinguished Career Professor of Entrepreneurship, Tepper School of Business, Carnegie Mellon University #UEDASummit
  7. 7. Bob Starzynski Director of Business Development, Innovation Works #UEDASummit
  8. 8. #UEDASummit
  9. 9. Defining Economic Development
  10. 10. A Long and Winding Road
  11. 11. Aligning Economic Development Administration (EDA) Mission
  12. 12. Economic Development is the expansion of capacities that contribute to the advancement of society through the realization of individual, firm and community potential. Economic Development is a sustained increase in prosperity and quality of life through innovation, lowered transaction costs, and the utilization of capabilities towards the responsible production and diffusion of goods and services. Economic development requires effective institutions grounded in norms of openness, tolerance for risk, appreciation for diversity, and confidence in the realization o mutual gain for the public and the private sector. Economic development is essential to creating the conditions for economic growth and ensuring our economic
  13. 13. Economic Development Logic Model Objective of Economic Development Prosperity High Quality of Life EDA Investments & Programs Capacities Community Capacity Firm and Industry Capacity Entrepreneurial Capacity Innovative Capacity
  14. 14. Implications for Measurement
  15. 15. How do we define Success?
  16. 16. How do we measure Success? Its important to get this right!
  17. 17. Measurable Increases in Capacity
  18. 18. Value Chain Augmentation
  19. 19. Social Capital: Dealmakers
  20. 20. Regional Identity  #UEDASummit  Lexis/Nexis Search  But what are they saying?
  21. 21. Labor Force Analytics  Supply  Jobs posted  Wage rates  Skills Sought  Days job open  Demand  Job seekers  Skills available  Degrees/Trai ning/Certifica tion
  22. 22. INNOVATIVE DATA SOURCES FOR REGIONAL ECONOMIC ANALYSIS Maryann Feldman, Alex Graddy Reed, Lauren Lanahan, Glenn McLaurin, Kari Nelson, and Andrew Reamer
  23. 23. #UEDASummit
  24. 24. #UEDASummit
  25. 25. #UEDASummit
  26. 26. #UEDASummit

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