A Practitioner’s Point of View             Presented by: John Turner       Director, Economic Development                E...
Overview Introduction Definition of Economic Development Traditional “Industrial” Economic  Development     Strategic ...
Economic Development Defined   Wikipedia     The scope of economic development includes      the process and policies by...
Mississippi Strategic Allies                      Governor’s Office                        Mississippi                   D...
The Competitive Nature of Economic Development Intense competition between  communities, states and nations Struggle to ...
Key Functions of the Economic DevelopmentProcess     Attracting New Business, Retain & Grow      Existing Business      ...
Key Functions of the Economic DevelopmentProcess     Community Development – better      described as competitiveness    ...
Key Functions of the Economic DevelopmentProcess     Business Retention & Expansion       Facilitate Expansion of Existi...
Key Functions of the Economic DevelopmentProcess     Research & Marketing       Access to demographic information for Re...
Rural Economic Development   Think Outside of the Box – identify your    niche     Some of the same functions, but under...
Just a Few Examples
Boomtown USA       http://youtu.be/PBydD-BgSMw
Mississippi Creative Economyhttp://www.mscreativeeconomy.com/blues.php
Mississippi Websites to Visit  Mississippi Creative Economyhttp://www.mscreativeeconomy.com Mississippi Economic Council...
Q&A            John Turner Director, Economic Development     Entergy Mississippi, Inc.       jturner@entergy.com
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Traditional & rural economic developmentupload

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John Turner presentation
4/27/12
USM

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Traditional & rural economic developmentupload

  1. 1. A Practitioner’s Point of View Presented by: John Turner Director, Economic Development Entergy Mississippi, Inc. April 27,2012
  2. 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. 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. 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. 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. 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. 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. 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. 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. 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. 11. Just a Few Examples
  12. 12. Boomtown USA http://youtu.be/PBydD-BgSMw
  13. 13. Mississippi Creative Economyhttp://www.mscreativeeconomy.com/blues.php
  14. 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. 15. Q&A John Turner Director, Economic Development Entergy Mississippi, Inc. jturner@entergy.com

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