The document discusses strategic doing as an approach to regional economic development. It outlines topics that could be discussed to develop an initial strategy, including developing business clusters, supporting business expansion and attraction, growing innovation and entrepreneurship, developing talent, improving infrastructure, and crafting a new narrative for the region. The goal is to think differently about the economy and leverage civic networks and regional assets to transform the prosperity of the area.
2. Outcomes for Today
What we hope to accomplish
✓Think in new ways about the economy
✓Understand the power of civic networks
✓Experience how to develop a strategy
3. The Big Picture Prosperity
How regions transform
Productivity
Innovation
Clusters
Assets
10. Small Business Vitality Rankings
Transforming OKC and Charleston created measurable change
1. Austin
2. Oklahoma City
3. Charleston, SC
Source: Business Journal Digital Network
April 11, 2011
11. Civic leaders all over the country are recognizing the value
of thinking differently about strategy
16. Economic Development 101
Managing 3 flows of money
Good Money: Increase the
1
volume Rest of the
Neutral Money: Increase World
2
the velocity
Bad Money: Reduce the 1
3 Sales
leakage
Traded
Another
Businesses
2 region
Purchases and paychecks
Brain Drain and
Purchases
Local Businesses 3
Hoosier
Heartl a nd Drop Outs Dependency
21. Trust leads to innovation
Civic networks develop
Interested Community of Innovating
Community Practice Network
Advocate Learn Innovate
Together Together Together
Trust
level
30. Innovate together
to build collaborations
Brainpower Innovation
21 Century Talent Entrepreneurship
Supports
Civic
Collaboration
Quality,
Connected
Places New Narratives
30
31. Today’s topics
to develop a “first version” strategy
Brainpower Innovation
21 Century Talent Entrepreneurship
Supports
1
4 2 3
Civic
Collaboration
5
Quality,
6
Connected
Places New Narratives
31
32. Clusters
Economic Clusters - Tim Hemingway
Developing clusters involves a focused economic
development strategy. Cluster strategies depend on
building complex, innovative collaborations quickly.
What can be done to develop a repeatable process
that allows for the successful creation of new,
purposeful economic cluster networks?
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33. Business Expansion/Attraction
Business Expansion and Attraction – Garth Deur
The strength of any regional economy depends on
its existing businesses. How do we develop a
support system to accelerate their growth? What
could we do to align, link and leverage our resources
to support existing companies? How do we develop
a reputation for speed, innovation, and
responsiveness that would make us attractive to
outside companies?
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34. Innovation and Entrepreneurship
Innovation and Entrepreneurship - Mark DeWitt
We need new businesses that can leverage the assets we
have in our region. How do we build a dynamic
entrepreneurial ecosystem to support new and innovative
companies? How do we engage young people in building
businesses in our region? How do we create thick
networks of support?
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35. Talent Development
Talent Development - Janet DeYoung
How do we build a region that fully embraces
lifelong talent development? Where do we start?
What initiatives appear most promising and how do
we effectively support and leverage them for area-
wide success and sustainability?
35
36. Infrastructure
Infrastructure - Dan Bourbon
Creating quality physical connections requires us to
think in new ways about our investments in
infrastructure. We also need quality, connected places
to attract and keep young people. (Area-wide
broadband for example) Chances are traditional
approaches to infrastructure planning will not meet
our needs going forward. How do we develop new
practices to guide our infrastructure investments?
36
37. New Narrative
New Narrative – Bob Ellis
The Midwest suffers from the legacy Rust Belt
image. How do we set ourselves apart? What
differentiates us from the competition? What are the
unique, compelling reasons for companies to choose
the Lakeshore to grow, launch or locate? How do
we “face forward” and tell the stories of our
promising future?
37
38. Today’s topics
to develop a “first version” strategy
Brainpower Innovation
21 Century Talent Entrepreneurship
Supports
1
4 2 3
Civic
Collaboration
5
Quality,
6
Connected
Places New Narratives
38