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Ten Strategies
for Economic
Development
Pros to Add
Community
Value
Mark Barbash
Executive Vice President
Finance Fund
www...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Creation of a competitive advantage...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• A deliberate economic and community...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• This economic recovery is different...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Actionable: Specific policies for s...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Tax incentive/abatement policies
• ...
Build on Community
Economic Strengths
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Build on Community Strengths
• What a...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Groups of related industries
• Serv...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Traded Regional Cluster Strategy
0
20...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Industry Cluster Strategy
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Specific Industry Analysis
• Who ar...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Industry Supply Chain Strategy
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Industry Supply Chain Mapping
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Core
Community Services
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Core Community Services
• Bus...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Industries that serve primarily loc...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
0
10,000
20,000
30,000
40,000
50,000
...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Source: Larisa Ortiz
Basic Neighborho...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Businesses that
Support the C...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Utilize area workforce development ...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Businesses that Support the
C...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
B (Benefit) Corporations
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Social Enterprise
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Develop an Investment
Strategy that R...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Place Based Economic Development
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Build a “unique place” to live, wor...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
What is Place Based Economic
Developm...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Linking Local Clusters & Place Based
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Place Based Collaborations
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Retail as a
Neighborhood
Revi...
Retail as an Economic Development
Strategy
• Retail is the most market based business
development
• Competition is fierce,...
• Revise Planning / Zoning
• Concentrate retail activity
• Designate unique nodes
- The Strip: Auto-oriented Retail
- Perf...
Healthy Food Retail as an Economic
Development Strategy
Local Food System Development as an
Economic Development Strategy
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Businesses that
Support their...
• Job Training, Skills Development & Job Path
Development
• Internships & Apprenticeship Programs
• Diversity Strategies
•...
Number of Hours @ Minimum Wage
Needed to Afford Average Rent
States with Active Apprenticeship
Programs
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support Businesses that
Invest in the...
• Capital Investment Strategies
• Research and Development
• Technology Evolution
• Constant Market Analysis
• Job Trainin...
Support Businesses that Invest in their
Future
Change in Share of Patents by Industry
Patents per 100,000 Residents by
Quartile
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Encourage Balanced
Growth Strategy
Mission of Balanced Growth:
• Ensure adequate local government
revenue for basic public services
• Balance of residential ...
Fiscal Impact Analysis
Fiscal Impact Analysis
Triple Bottom Line Analysis
What is the TOTAL all-in cost of a development project,
including economic and environmental i...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Invest in Improving the
Quality of Li...
Invest in Community Quality of Life
Olneyville Contract:
Providence, Rhode Island
Social Fabric Engage youth, immigrants, ...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Provide more transportation choices...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Support a Broad based
Diversified Eco...
• Balance of business types
• Manufacturing, retail, commercial,
financial, insurance, services
• Balance of Business Size...
Alberta Economic Diversity
Tools to Add
Community Value
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
Tools to Build on
Community Strengths...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Community Asset Mapping
• Attractio...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• B Corporations
• Community Developm...
Inland Northwest Partners Ten Strategies to Build Community Value
September 17, 2015
• Use planning and zoning to encourag...
• Zoning Overlays for Commercial Strips
• Retail market gap analysis
• Targeted vacant property acquisition strategy for
r...
• Stronger job training, apprenticeship
programs
• Skills matching programs
• Targeted incentives: grants, loans, tax
ince...
• Incubator & Accelerators
• STEP Strategies
• Community College /University STEM
Strategies
• STEM in the High Schools
• ...
• Triple Bottom Line Analysis
• Fiscal Impact Analysis
• Land Use Planning / Mixed Use Development
Standards
• Development...
• Community Health Centers
• ArtSpace – Art as Economic Development
• Development Standards
• Development Limits
• Sewer, ...
• Economic concentration analysis
• Balance of small and large businesses
• Improve connectivity through broadband
• Ident...
QUESTIONS?
Mark Barbash, EVP, Strategic Initiatives
markbarbash@financefund.org
(614) 774-7599
THANK YOU!
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Ten Strategies to Add Community Value

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Community developers should not be chasing any jobs: We should be advancing good jobs, with living wages and benefits, along with investments that investments that support our unique strengths. This presentation at the Inland Northwest Partnership meeting provides some proven strategies to grow community sustainability.

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Ten Strategies to Add Community Value

  1. 1. Ten Strategies for Economic Development Pros to Add Community Value Mark Barbash Executive Vice President Finance Fund www.linkedin.com/in/markbarbash
  2. 2. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Creation of a competitive advantage by bundling, combining, or packaging features and benefits that result in greater customer acceptance. What is Value-Added:
  3. 3. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • A deliberate economic and community development strategy that supports sustainability, economic stability & high quality of life in economic development activities What is Value-Added Economic Development:
  4. 4. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • This economic recovery is different from previous recoveries. • Globalism, technology and demographics make this recovery different. • Unemployment down, wages and family income stagnating, job elimination • Community & economic development strategies should respond to this economic transition Why Value Added Community Development is important now:
  5. 5. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Actionable: Specific policies for specific programs. • Practical investment activities that are designed to leverage further growth … • … and protect the health of the community. • Fiscal health – community health – social health • Not to the exclusion of other strategies … but additive to existing strategies • Evolve your economic development strategies to respond to the new realities What is Value-Added Community Development
  6. 6. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Tax incentive/abatement policies • Capital investment policies • Targeted marketing • Active Business Retention/expansion Program • Linking planning, zoning and economic development strategies • Workforce Development coordination Changing the Tools to Support Value Added Community Development
  7. 7. Build on Community Economic Strengths
  8. 8. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Build on Community Strengths • What are the industries and industry clusters that are strong in the region? • What are the largest businesses and who do they do business with? • What research & development concentrations exist in the region? • What drives the regional economy: employment, wages, education, innovation
  9. 9. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Groups of related industries • Serve markets beyond the region in which they are located. • Free to choose their location of operation Highly concentrated in a few regions • Exposed to competition from other regions. • Tend to be higher wage industries Traded Regional Cluster Strategy
  10. 10. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Traded Regional Cluster Strategy 0 2000 4000 6000 8000 10000 12000 14000 16000 $0.00 $10,000.00 $20,000.00 $30,000.00 $40,000.00 $50,000.00 $60,000.00 $70,000.00 $80,000.00 $90,000.00 Top Traded Clusters By Number of Jobs & Wages Business Services Financial Services Distribution/Electronic Aerospace/Defense Construction Products Food Processing/MfgEducation/Knowledge Insurance Services
  11. 11. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Industry Cluster Strategy
  12. 12. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Specific Industry Analysis • Who are customers and suppliers? • Who are strategic partners? • Industry Association • Competitive issues • Common transportation, infrastructure, workforce, technology issues • Link with Retention / Expansion / Attraction / Workforce Strategies Industry Supply Chain Strategy
  13. 13. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Industry Supply Chain Strategy
  14. 14. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Industry Supply Chain Mapping
  15. 15. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Core Community Services
  16. 16. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Core Community Services • Businesses that meet the needs of neighborhoods and citizens • Businesses that improve neighborhood and community stability • Health Care • Food and Shelter • Human Services • Strong connection with Place Based Strategy
  17. 17. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Industries that serve primarily local market • Prevalent in every region of the country. • A region’s employment in local clusters is usually proportional to the population of The majority of a region’s employment comes from jobs in local clusters. • Local clusters are tied to the regions in which they are located, they are not directly exposed to competition from other regions. Support Core (Local) Community Services
  18. 18. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 0 10,000 20,000 30,000 40,000 50,000 60,000 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 Health Services Public Service Retail Commercial Services Financial Motor Vehicles Parts / Services Real Estate / Construction Hospitality Local Clusters Employment & Wages
  19. 19. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Source: Larisa Ortiz Basic Neighborhood Services
  20. 20. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Businesses that Support the Community
  21. 21. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Utilize area workforce development for recruitment, training, skills development • Active members of Chambers, Business Associations, community partnerships • Support arts and culture: volunteers, contributions, United Way • Make efforts to recruit & employ locally • Internship & Apprenticeship opportunities Support Businesses that Support the Community
  22. 22. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Businesses that Support the Community
  23. 23. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 B (Benefit) Corporations
  24. 24. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Social Enterprise
  25. 25. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Develop an Investment Strategy that Recognizes the Importance of Place
  26. 26. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Place Based Economic Development
  27. 27. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Build a “unique place” to live, work and raise a family” • Capitalize on community assets to build around • Connect people with the places they live • Build assets in places: downtowns, Main Streets, neighborhoods, town squares What is Place Based Economic Development?
  28. 28. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 What is Place Based Economic Development? • Mixed Uses • Quality Public Spaces • Transit Options • Housing Options • Historic Structures • Arts and Culture • Green Places • Link Urban and Rural • Natural Resources • Broadband Enabled
  29. 29. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Linking Local Clusters & Place Based
  30. 30. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Place Based Collaborations
  31. 31. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Retail as a Neighborhood Revitalization Strategy
  32. 32. Retail as an Economic Development Strategy • Retail is the most market based business development • Competition is fierce, even locally, placing the economic developer in a tough position. • Except…in a place based strategy trying to restore the economic viability of a community or neighborhood… • … Basic retail services becomes a critical attraction for residents and visitors
  33. 33. • Revise Planning / Zoning • Concentrate retail activity • Designate unique nodes - The Strip: Auto-oriented Retail - Performance Row: Pedestrian oriented - The Commons: Higher Density Housing • Develop Appropriate Incentives • Neighborhood Business Revitalization Strategy Retail as an Economic Development Strategy
  34. 34. Healthy Food Retail as an Economic Development Strategy
  35. 35. Local Food System Development as an Economic Development Strategy
  36. 36. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Businesses that Support their Employees
  37. 37. • Job Training, Skills Development & Job Path Development • Internships & Apprenticeship Programs • Diversity Strategies • Competitive Wages • Benefits (Health care, pension, child care) • Community engagement in arts, culture, recreation, human services Support Businesses that Support their Employees
  38. 38. Number of Hours @ Minimum Wage Needed to Afford Average Rent
  39. 39. States with Active Apprenticeship Programs
  40. 40. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support Businesses that Invest in their Future
  41. 41. • Capital Investment Strategies • Research and Development • Technology Evolution • Constant Market Analysis • Job Training & Skills Development • Continuous Improvement Support Businesses that Invest in their Future
  42. 42. Support Businesses that Invest in their Future Change in Share of Patents by Industry
  43. 43. Patents per 100,000 Residents by Quartile
  44. 44. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Encourage Balanced Growth Strategy
  45. 45. Mission of Balanced Growth: • Ensure adequate local government revenue for basic public services • Balance of residential and job development • Places to work proximate to places to live • Utilization of existing infrastructure for growth Encourage Balanced Growth Strategy
  46. 46. Fiscal Impact Analysis
  47. 47. Fiscal Impact Analysis
  48. 48. Triple Bottom Line Analysis What is the TOTAL all-in cost of a development project, including economic and environmental impact? City of Boston ARRA Analysis
  49. 49. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Invest in Improving the Quality of Life in the Community
  50. 50. Invest in Community Quality of Life Olneyville Contract: Providence, Rhode Island Social Fabric Engage youth, immigrants, community events Physical Fabric Beautification, Parks, safe streets & sidewalks Economy Existing Businesses, connect job seekers Health & Safety Crime and safety, health care Community Organizations Build strong neighborhood institutions, community services Housing Mix of housing, foreclosure, parking
  51. 51. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Provide more transportation choices • Promote equitable, affordable housing • Enhance economic competitiveness • Support existing communities • Coordinate policies and leverage investment • Value communities and neighborhoods www.sustainablecommunities.gov HUD Sustainability Communities Livability Principles
  52. 52. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Support a Broad based Diversified Economy
  53. 53. • Balance of business types • Manufacturing, retail, commercial, financial, insurance, services • Balance of Business Sizes: large to small • Range of Employment Opportunities • Entry level jobs and higher skilled jobs • Job Training • Innovation & Entrepreneurship • International Trade / Export What is a diversified economy:
  54. 54. Alberta Economic Diversity
  55. 55. Tools to Add Community Value
  56. 56. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 Tools to Build on Community Strengths • Traded Cluster Mapping • Supply Chain Mapping • Business Retention and Expansion Program • Industry Advisory Boards, Experts, Council • US and International Recruitment
  57. 57. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Community Asset Mapping • Attraction / Retention / Expansion Strategy • Retail Gap Analysis • Neighborhood Commercial Revitalization Strategy • International Council of Shopping Centers Tools to Support Core Community Services
  58. 58. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • B Corporations • Community Development Corporation • Engagement in Nonprofit organizations and Foundations • Social Enterprise Tools to Support Businesses that Support the Community
  59. 59. Inland Northwest Partners Ten Strategies to Build Community Value September 17, 2015 • Use planning and zoning to encourage a balance of uses • Support transit connections between jobs and residences • Encourage walkable neighborhoods with sidewalks, pocket parks, “third place” amenities • Identify strategically located vacant properties and sites for redevelopment • Identify and improve connected job corridors • Identify retail “nodes” to build around • Consider entrepreneurial assets and connective assets • Incubators, collaboration space Tools to Advance Place Based Economic Development
  60. 60. • Zoning Overlays for Commercial Strips • Retail market gap analysis • Targeted vacant property acquisition strategy for retail corridor • Financing/Grants for façade renovation, leasehold improvements • Neighborhood Commercial Revitalization Strategy Tools to Promote Retail as an Economic Development Strategy
  61. 61. • Stronger job training, apprenticeship programs • Skills matching programs • Targeted incentives: grants, loans, tax incentives • Matching charitable contribution campaigns Tools to Support Businesses that Support their Employees
  62. 62. • Incubator & Accelerators • STEP Strategies • Community College /University STEM Strategies • STEM in the High Schools • State Science and Technology Program investments Tools to Support Businesses that Invest in Their Future
  63. 63. • Triple Bottom Line Analysis • Fiscal Impact Analysis • Land Use Planning / Mixed Use Development Standards • Development Limits • Sewer, water, utilities, police, fire, roadways Tools to Encourage Balanced Growth Strategy
  64. 64. • Community Health Centers • ArtSpace – Art as Economic Development • Development Standards • Development Limits • Sewer, water, utilities, police, fire, roadways Tools to Support Investment in Community Quality of Life
  65. 65. • Economic concentration analysis • Balance of small and large businesses • Improve connectivity through broadband • Identify market sector gaps • Regional analysis, planning and implementation • Infrastructure investment Tools to Suport A Broad-based Diversified Economy
  66. 66. QUESTIONS? Mark Barbash, EVP, Strategic Initiatives markbarbash@financefund.org (614) 774-7599 THANK YOU!

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