Economic Development Strategy for Monterey Bay Region
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Bud Colligan, Co-Chair of the Monterey Bay Economic Partnership, presented this keynote address at the organization's first Regional Economic Summit in Seaside, CA on January 29, 2015. It reviews an economic development strategy for Monterey Bay and the formation and introduction of the Monterey Bay Economic Partnership, focused on increasing economic prosperity, good jobs and quality of life for all residents of the Monterey Bay region.
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Economic Development Strategy for Monterey Bay Region
- 2. Economic Development Strategy for the Monterey Bay Region
- 3. BUD COLLIGAN SOUTH SWELL VENTURES • Diversified Small Company Economy… • Leveraging Distinct Regional Assets… • While Preserving & Enhancing Our Environment Vision BUD COLLIGAN SOUTH SWELL VENTURES
- 4. BUD COLLIGAN SOUTH SWELL VENTURES BUD COLLIGAN SOUTH SWELL VENTURES Diversified Small Company Economy • Agriculture • Organics • Marine Science • Food Products • Technology • Genomics • Recreation • Tourism & Eco-Tourism • Education • Wine • Health Care • Retail • Manufacturin g • Distribution • Services • Non-Profits • Languages
- 5. BUD COLLIGAN SOUTH SWELL VENTURES Leveraging Distinct Regional Assets • Agriculture: Region’s Largest Industry • Organics: CCOF, CASFS, OFRF • Marine Science: 24 Institutions; $300M/year • Food & Wine Products: Leverage Agricultural Advantage/Climate • Technology: Proximity to Silicon Valley; Local Talent • Genomics: UCSC Institute & Genomics Browser • Gaming: Innovative Companies • Recreation: Legacy of Innovation • Tourism & Eco-Tourism: Ocean, Redwoods, Mountains, Boardwalk, Pebble Beach, Aquarium • Language Capital of the World BUD COLLIGAN SOUTH SWELL VENTURES
- 6. BUD COLLIGAN SOUTH SWELL VENTURES While Preserving & Enhancing Our Environment • Small Companies: Focused on Local Assets, Tailored to Size of the Community • Local Jobs: Less Traffic/Pollution • Environment: Smart Growth, Knowledge Industries, Organics, Protect Natural Beauty and Farmland • Families: Kids Can Find Jobs Locally, Stay Together • Increased Tax Base: Pay for Public Services BUD COLLIGAN SOUTH SWELL VENTURES
- 7. Entrepreneurial Eco-System COLLEGES & UNIVERSITIE S TALENT INTELLECTU AL PROPERTY CAPITAL COMPANY SPIN-OFFS CROSS- FERTILIZATIO N ATTRACTION OF TOP TALENT GRASS- ROOTS ECO-SYSTEM BUD COLLIGAN SOUTH SWELL VENTURES
- 8. • Develop shared vision and time horizon • Agree on measurements • Create regional advocacy/monitoring group • Pass public policy on infrastructure • Create policy framework for targeted businesses Regional Leaders BUD COLLIGAN | SOUTHSWELL VENTURES BUD COLLIGAN SOUTH SWELL VENTURES
- 9. BUD COLLIGAN SOUTH SWELL VENTURES
- 10. BUD COLLIGAN SOUTH SWELL VENTURES Monterey Bay Region
- 11. To create a thriving region by increasing prosperity and enhancing the quality of life for all residents of the Monterey Bay region. Our Vision BUD COLLIGAN SOUTH SWELL VENTURESBUD COLLIGAN SOUTH SWELL VENTURES
- 12. • Promote regional and innovative economic development that builds on clear exemplars and leverages our distinct advantages. • Study and promote policies that lead to thoughtful development, promoting jobs and economic gains for the residents of the region, particularly in areas of high unemployment. • Promote education and technical training to provide community members with the skills they need in today and tomorrow’s workforce. • Be a valuable data and policy resource for existing/new businesses and elected officials in the region. • Convene open forums to promote shared goals, cooperative decision making, and shared responsibility and advocacy for the economic future of our region Our Mission BUD COLLIGAN SOUTH SWELL VENTURES
- 13. Our Partners • Local Businesses • Educational Institutions • Health Care Organizations • Cities, Counties and Agencies BUD COLLIGAN SOUTH SWELL VENTURES
- 14. Partners Today BUD COLLIGAN SOUTH SWELL VENTURES
- 15. Legal Structure • CA Non-Profit Public Benefit Corporation • IRS 501(c)3 Designation in Process • Articles of Incorporation Filed June 18, 2013 • Bylaws Approved • Full Board to be Announced in March • Two Co-Chairs: Bud Colligan and Rene Mendez BUD COLLIGAN SOUTH SWELL VENTURES
- 16. Introducing MBEP’s President BUD COLLIGAN SOUTH SWELL VENTURES Jennifer Dossett
- 17. BUD COLLIGAN SOUTH SWELL VENTURES
Editor's Notes
- Thank you Mary Ann and welcome to the Monterey Bay Economic Partnershp’s first Regional Economic Summit.
- Our theme, Invent Your Future Here – Monterey Bay, comes from our belief that we have the talent, creativity and resources to innovate and create a future in Monterey Bay that we can imagine and act on. Today is the first step in arriving at a consensus about that vision and then identifying the things we need to do to realize it. Today’s dialogue will be as good as we all make it—we have some terrific speakers and panelists--and we want all of you to engage them during and after the sessions. Are you ready to roll up your sleeves and get to work?
- I have suggested at the FORA Colloquium in 2013 and the Monterey Bay Regional Economic Forum in 2014 that we should align our strategy around A diversified small company economy Leveraging distinct regional assets While preserving and enhancing our environment
- Diversification brings balance, avoids single industry setbacks, offsets seasonality, and leverages our people talents. Small means Companies 1 – 1,000 employees—tailored to the size of the community. We have 135K employed in Santa Cruz County and 200K employed in Monterey County, so we’re not going to build 10,000 person companies in the region. Besides, with today’s modern infrastructure, companies don’t need to be HUGE to compete on a worldwide basis.
- Let’s focus on where we have established strengths and long-term sustainability…and a proven ability to build world class companies: Agriculture: Berry Capital, Lettuce Capital, $4.4B industry in Monterey County alone in 2013 (Driscolls, Taylor Farms, Foxy) Organics: CCOF, OFRF (Organic Farming Research Foundation), CASFS at UCSC—the oldest organics training program at any U.S. university; result: 15% of SC County ag is already organic; 5% in Monterey County—so lots of potential for growth (Earthbound Farms, Sunridge Farms) Marine Science: 24 institutions, 2,100 staff, spending $300M per year Food Products & Wine: Iconic brands like Odwalla, Newman’s Own and Martinellis, food products are over $1B business in Monterey County alone (> $1B) and leverage largest industry. We grow more grapes than Napa Valley and have many notable brands like Chalone, Scheid, Bernardus & Storrs. Technology: Both Santa Cruz and Salinas have proximity to SV; SC County has lots of local technical talent and you’ll be hearing more about Santa Cruz Works in Bob Cagle’s tech panel this morning; digital technologies are the future of EVERY industry and you’ll hear more about that from Kish Rajan and Robert Tse today Genomics: UCSC Genomics Institute—ww leader in computational genomics and already spinning out new companies like Five3Genomics. Genomics is the centerpiece of the UCSC Capital Campaign as well as recently receiving an $11M grant from NIH…so its gaining momentum. Gaming: Game design is largest engineering major at UCSC and SC has a history of strong gaming companies (SC Games, Chronic Logic, Graeme Devine) Recreation: Legacy of innovation in mountain biking, surfing, skate boarding, and golf. (SC Bikes, SC Skateboards, O’Neills and Pebble Beach) Tourism and Eco-Tourism: takes advantage of our natural surroundings and farms and leverages world class destinations like the Aquarium, Santa Cruz Boardwalk and Big Sur. Languages: we have trademarked the Monterey Bay as the “Language Capital of the World,” and rightly so with DLI and companies like Language Line Services in Monterey, providing telephone, video remote and on-site interpreters in over 200 languages. The MBEP website is instantly translated in over 90 languages!
- Any successful business in this region needs to integrate its business with the environmental values of the community. Small companies: Tailored to the size of the community Local jobs: less commuting/pollution – lower carbon footprint overall Families: Keep kids local/families together – so there are jobs when our children graduate from college Increased Tax Base: Pay for public services in health care, education, parks, roads, and public safety
- The best way to have this future is to create it—through an entrepreneurial eco-system that starts with research and intellectual property, applies talent and capital, and gradually develops the grass roots eco-system to self-perpetuate—creating companies, spin-offs of those companies, cross-fertilization of ideas and ultimately a close partnership and symbiosis with the educational institutions in the area. Santa Cruz Works is a prime example and you’ll hear from 4 companies this morning in the tech panel who are growing fast and making the Monterey Bay their home. But it’s not only tech, Driscolls and Plant Sciences in Watsonville have been worldwide innovators in genetics and also the business model they’ve designed. Taylor Farms, Misionero, Mann Packing and Earthbound Farms in Monterey County have revolutionized the notion of packaged leafy greens of all varieties. So innovation and entrepreneurism are already driving our best companies.
- When I first discussed this strategy, I put up this slide stating that there is a need for a non-profit organization that would coalesce many points of view to generate a consensus regional economic development strategy, identify the key building blocks in realizing it, and hold all of us accountable for progress in achieving it. We hope that the Monterey Bay Economic Partnership will serve this role.
- I’d like to share with you now MBEP’s vision, mission, our partners, legal structure and announce our new President.
- First, our regional economy encompasses the tri-county area of Santa Cruz, Monterey and San Benito counties. There is already quite a lot of economic integration among the counties. You’ll hear this morning about the great work being done by the CCBC, which worked to bring the new high speed backbone between UCSC and Soledad to the region. PTAC (Monterey Bay Procurement Technical Assistance Center) supports private companies in the region to apply for federal contracts, and has already helped secure $118M in contracts. AMBAG, the association of Monterey Bay Area Governments works to harmonize public entity approaches to common problems. In the private sector, the agricultural industry is integrated extensively across the tri-county region. We’ll hear later this afternoon about opportunities and challenges to do the same in Romney Dunbar’s panel on tourism. The infrastructure and economic issues facing the three counties are quite similar and there are many opportunities to work together to optimize interconnected regional prosperity.
- MBEP’s vision is clear: to create a thriving region by increasing prosperity and enhancing the quality of life for all residents of the Monterey Bay region.
- Our mission has five components—but essentially boils down to being the “go to” organization for data and policy information for businesses and policy makers in the region, to convene forums to create consensus and follow-up about strategy and actions that foster economic vitality, and finally to promote policies that support good jobs and quality of life for residents of our region.
- Our partners in this endeavor are businesses, higher educational institutions, health care organizations and the public sector. We have taken a leaf from David Packard’s book when he formed the Silicon Valley Leadership Group that created a working partnership among universities and business—universities as the creators of knowledge and intellectual property, and businesses as the engines for the application of that knowledge and the invention of new products and services.
- Our partners today comprise most of the cities, counties and government agencies in the region. Mary Ann has put most of this together on a wing and a prayer. With the formal creation and staffing of MBEP, we will now focus on adding business and higher education partners to the mix.
- MBEP is a non-profit public benefit corporation organized as a 501c3. Our articles of incorporation have been filed and by-laws approved. I want to thank our organizational board members: Ray Corpuz, City Manager of Salinas, Rene Mendez, City Manager of Gonzales, Claude Hoover, CEO of Veritas Associates and Mary Ann for their foresight and initiative in getting the ball rolling. We are now in the process of forming our formal board of directors. In addition to Mary Ann, Rene Mendez and me, I’m pleased to announce that George Blumenthal, Chancellor of UCSC, and Eduardo Ochoa, President of CSUMB, have agreed to join the board. I am also pleased to announce that business and non-profit leaders George Ow, Jr. of Ow Family Properties, Nina Simon of the Museum of Art and History and Gary Griggs of the Institute of Marine Sciences have agreed to join the board. In Feb and March we will be completing the board with additional business leaders from key regional economic sectors. So stay tuned for more announcements in the months ahead….
- I’m also pleased to announce that Jennifer Dossett has agreed to become MBEP’s first president. We were focused on hiring someone from the private sector who is technologically savvy, smart, understands research, products and marketing, and has an educational background in economic development. Jennifer fills those qualifications well. She grew up in Monterey County and knows the region well. She holds a Masters in International Policy and Management from Middlebury (formerly Monterey) Institute of International Studies and most recently worked at IHS, a well regarded market research firm. She is in the process of establishing our office and getting the organization up and running. Jennifer is here today and will be closing our day with some final remarks and next steps. Please welcome her and congratulate her on representing the region in the important work ahead.
- Thank you for being here today and fully participating, not only today but in the years ahead. We have the potential to shape one of the most dynamic and beautiful regions of the world. It’s an awesome responsibility to preserve our natural beauty while creating prosperity and a great quality of life for our residents. I know we can do it. Let’s start by understanding the big picture: where we’ve come in 2014 and the economic forecast for 2015, in the nation, in California and in our region. Here to help us understand the big picture is Chris Thornberg, Founding Partner of Beacon Economics. Chris is widely considered to be one of California’s leading economists. He is an expert in economic forecasting, regional economics, labor markets, economic policy, and industry and real estate analysis. Chris holds a PhD in Business Economics from The Anderson School at UCLA. Chris is a widely sought after speaker and we are pleased that he chose to be with us today.