This document discusses characteristics of a future-forward strategic action plan for economic transformation. Such a plan should include parallel strategic and tactical processes that address both emerging opportunities and challenges. It should take a holistic, ecosystem-based approach to building networks and partnerships. The plan should be action-oriented, focusing on building capacities and implementing pilot initiatives to learn from. Data should be used to inform the process and strategic discussions, rather than to predict outcomes.

1. Future-Forward Economic Development
Jim Damicis & Christa Ouderkirk Franzi
www.camoinassociates.com

2. Characteristics of a Future-
Forward Strategic Action
Plan for Economic
Transformation
• And/Both (Parallel Processes)
• Emerging Opportunities and Challenges
• Holistic
• Action Oriented
• Data to Inform

3. And/Both
(Parallel Processes)
Parallel processes integrate strategic
and tactical actions with emerging
future and system change.

4. Emerging
Opportunities &
Challenges and
Weak Signals
Not yet trends but
future possibilities and
can have significant
impact and
opportunities for the
region and its
industries.
Weak
SignalsSociety
Environment
Economy
Technology
What might the
future look like??

5. Tech of Everything
It’s no longer only about precision and
advanced machinery. Digital technologies
and platforms are transforming every
sector - Internet of Things (IoT), data
science and analytics, virtual and
augmented reality, AI, sensors and more!
Everything is connected and
communicating.
Trends Affecting Economic Future
Technology Alliance of Central NY (TACNY) –
Mission Controllers at Pine Grove Middle School
Healthtech
Fintech
Industry 4.0 - Manutech
Supply Chain Tech

6. View of the Future
• Trends - Based on Historical
Data and Assumptions
Projecting into the Future
• Examples:
• Driverless Vehicle Sales
• Broadband and 5G
Adoption
• Telehealth
Traditional Emerging – Future
• Weak Signals
• Thinking and Discussing
“What Might Be”
• Looking for Connections
between Multiple Signals
• Examples:
• Individual Digital Property
Rights
• Cultivated Animal Protein
• Complete Ban on Plastics

7. Holistic
Ecosystem and network based to build and strengthening networks and
partnerships to amplify and integrate diverse capacities for implementation
and adaptability.

8. Ecosystems
Trends Affecting Economic Future
The strength of an economy
depends on not only what assets
it has, but how those assets
connect and interact internally
and externally.
• Innovation & entrepreneurship
• Building trust within networks
• Creative collisions
ESHIP Summit 2017: Ecosystem Builders 2025 Vision

9. Economic Development: A Holistic System
Workforce Business
Attraction,
Retention &
Expansion
Local & Regional
Economic
Development
Quality of
Place
Innovation
Entrepreneurship
Incubation
Acceleration
Real Estate
Sites
Infrastructure
& Planning
Land and Site
Development
Redevelopment
Downtown
Corridor &
District
Development
Land Use
Regs
Zoning Planning Marketing
Place-
making
Elements a Municipality can Affect

10. Action Oriented
Focus building capacities
for transformation and
action. Getting unstuck
on designing and
implementing actions
and initiatives in a
future’s context without
absolute predictability.

11. Action
• Strategies and Tactics
• Predictable Outputs and
Outcomes
• Clearly Defined
Vision/Goals/Objectives and
Agreed to through Consensus
Building
• Based on Best Practices
Traditional Emerging – Future
• Unknown Outcomes
• No Clear Defined Consensus
on Vision/Goals/Objectives
• Based on “Emerging
Practices”
• Designing Pilot Initiatives to
Learn from and Adapt
• Strategic Doing
• Fail Fast/Fail Cheap

12. Data to Inform
(Not Predict)
Using data to inform the
process, creating
engaging discussions and
providing context for
strategic action.

13. Data/Metrics
• Near-term
• ROI Based
• Market Feasibility
• Financial Feasibility
• Economic and Fiscal Impact
• Economic Trends and
Projections
• Used to Explain and Predict
Traditional Emerging – Future
• Long-term
• Capacity Building/Adaptability
Based
• Network Presence & Strength
• Collective Impacts
• Strategic Foresight and What-if
Scenarios
• Used to Inform