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Past, present, and future trends in new york state economic development 2017 nysedc annual conference
The document discusses past, present, and future trends in economic development in New York State. It outlines factors influencing the economic development profession, programs and activities of other state economic development organizations, and recommendations for how the New York State Economic Development Council can better support its members through education programs, advocacy, and governance/operational improvements. The presentation covers a wide range of topics related to economic development in New York.
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Past, present, and future trends in new york state economic development 2017 nysedc annual conference
- 1. Past, Present andFuture Trends in New York State Economic Development NYSEDC Annual Conference May 24th, 2017 Rob Camoin & Michael N’dolo
- 2. Past &Present and Future of Economic Development in NY Factors Influencing the Profession Other State Organizations What should NYSEDC do to support its members? Agenda
- 3. “Shotgun” Approach UDAG, Small Cities,Microenterprise Empire Zones, Sites, Infrastructure ESDC direct grants and loans Easy to Operate Leads come in to county/state Relatively free rein locally to operate IDAs/LDCs Overall Somewhat stable environment 1. Past Economic Development in NY
- 4. 2. Present EconomicDevelopment in NY DEFINITION: Economic gardening is an economic development model that embraces the fundamental idea that entrepreneurs drive economies. Constant change Broadening of Definition economic gardening workforce Quality of life Regionalization of economic development into REDCs Bulk funding programs like URI/DRI in competitive rounds Weaker Incentives Ex. Excelsior and Startup NY vs Empire Zones Fewer general leads coming in and ultra competitive Intense public scrutiny and regulatory oversight
- 5. Entrepreneurship Tourism 1. 4. 3. 2. 5. Typical EDO Functions BusinessRetention & Expansion Business Attraction Workforce 6. And More….
- 6. Uncertainty Automation Death & Creation ofJobs Skills Gap Fierce Competition Incentives, workforce, taxes Shifting Business Culture Innovate or die 3. Economic Picture Today
- 7. 25% 17.5% 12% 5% 7% 49.5% 34% 33% 53% 28% 17% Foreign Direct Investment Sustainability ExportDevelopment Disaster Planning/Resiliency Reshoring Efforts Entrepreneurship Infrastructure Upgrades Measuring Performance Workforce Development Leadership Development Economic Inclusion
- 8. Partner with K-12 forWF readiness Create Export Support Programs Partner with SBDC Hire staff to facilitate WFD programs Increase marketing/travel outside U.S. Collaborate w/state for infrastructure planning Update reporting & tracking methods Launch Intl Business Accelerator Engage more with SelectUSA Seek infrastructure improvement grants Work with Community Colleges for training Create Minority Entrepreneurship Program
- 9. 3 greatest challengesof 2016 Lack of Skilled Labor 48% Inadequate Infrastructure 29% City/County/State Budget Cuts 28% 3 greatest challenges of 2009 Lack of access to capital/financing 58% Business closures/downsizing 52% Declines in real estate development 48%
- 10. Two other issuesof high concern to ED professionals: * Lack of political support for ED was 22% in 2009, and the incentives debate was not a concern “Debate Over Incentives” 24% “Lack of Political Support for ED” 23%
- 11. Uncertainty Education Story Telling Value Workforce Culture 4. FutureEconomic Development Budgets, GDP, transforming industries, data and automation of ED, slowing attacks on ED, regionalization, Growing skills gap Focus on addressing the unfavorable environment relative to elsewhere. Addressing regulation. How many cranes? Appreciation for.. Ourselves and others about what we do and why. What other states are doing. Of private investment, a meaningful job, sound fiscal conditions and QofL/community Need to tell real stories
- 12. 6. Other StateOrganizations: California Communicate
- 13. 6. Other StateOrganizations: California Communicate
- 14. 6. Other StateOrganizations: California Communicate Programs/Activities: Webinars Introduction to Economic Development Certificate Program California Academy for Economic Development Regional trainings Economic Development Job & Career Center
- 15. 6. Other StateOrganizations: California Communicate Programs/Activities: California Enterprise Development Authority Legislative liaison Local Economic Advisory Program Conferences
- 16. Welcome to TexasEconomic Development Council The Texas Economic Development Council (TEDC) is an an Austin-based, statewide, non-profit professional association dedicated to the development of economic and and employment opportunities in Texas. Our diverse members share a common goal -- bringing new investment and jobs to Texas. 6. Other State Organizations: Texas
- 17. 6. Other StateOrganizations: Texas Networking Professional development Legislative representation “Our objective is to support the economic growth of Texas and develop strategies that promote a positive business climate in our state.” - TEDC
- 18. 6. Other StateOrganizations: Texas Communications Conference ED Sales Tax Education Forward Planning Legislative Membership PAC Transportation Water Workforce Development Committees
- 19. 6. Other StateOrganizations: Texas Sources of Funding = $850,000 Member dues and event revenues cover 70% Grant funding Sponsors
- 20. 6. Other StateOrganizations: Texas Communicate Goal 1: Strengthen the economic development profession 1.1: Continue Successful Webinar Program 1.2: Host Two Peer Group Roundtables per Conference 1.3: Grow and Promote the TEDC Education Foundation 1.4: Sponsor Two Regional Luncheons Per Year 1.5: Study Feasibility of Creating a TEDC Blog
- 21. 6. Other StateOrganizations: Texas Communicate Goal 2: Promote a healthy business climate 2.1: Maintain Focused Legislative Strategy 2.2: Broaden Participation in the TEDC PAC 2.3: Strengthen and Support Team Texas 2.4: Increase External Marketing and Communication Efforts to Promote TEDC Brand
- 22. 6. Other StateOrganizations: Texas Communicate Goal 3: Maintain strong leadership and financial stability for the TEDC 3.1: Continue to Grow and Promote the TEDC Mentorship Program 3.2: Explore New Membership Discount Options 3.3: Explore Availability of Grant Funding 3.4: Create a New Platinum Level Corporate Sponsorship 3.5: Benchmark TEDC Conference registration fees against similar organizations 3.6: Conduct Exit Survey of Cancelled TEDC Memberships
- 23. Advocacy Governance/Operational B. C. 7. What shouldNYSEDC do to support its members in this environment of change? Education ProgramsA.
- 24. State of theart Certificate programs (IEDC’s CEcD) Selling your value to stakeholders Public relations What is the “playbook” How to get people and officials to care/understand 7A. Education Programs
- 25. Promote tools that makeED more effective Educate legislature on out of state information • Legislative changes to enhance competitiveness • Tax increment financing (TIF) • Sales tax funding model • Programs • System • Approach 7B. Advocacy
- 26. Workforce development Statewide partnerships Career lattice work Networking Diversifythe board Maximize technology solutions to organize members 7C. Governance/Operational
- 27.
- 28. Robert Camoin President &CEO Camoin Associates Phone: (518) 899-2608 Email: rcamoin@camoinassociates.com Web: www.camoinassociates.com Twitter: @CamoinAssociate LinkedIn: www.linkedin.com/in/economicdevelopment
Editor's Notes
- #4 Very Broad range. Maximum flexibility Uses can be on site (in district) or off-site if related to TIF project May want to mention: Can also impact development through zoning and land-use regulations
- #6 Still the core services, but new initiatives within them. Workforce – talent attraction Entrepreneurship – Shark Tank style events What you do changes with GDP growth rate
- #7 Continued Uncertain Environment Automation: Transition in jobs – not the death of jobs. Every sector affected – retail to professional services. IBM’s Watson. Refer to Agriculture and manufacturing downward trend, with total employment continuing to rise In 1979 the DOL and Think Tank issued a report that said we would have fewer jobs and 20 hour work weeks by 2020 – opposite has occurred. Fierce Competition: Texas & Others - 4A & 4B program CT – TIF Florida – no incentives, workforce development focus 7 States do not have an income tax Shifting Business Culture: Business disruptor Amazon Uber
- #8 Workforce Dvpt and Entrepreneurship maintain the top two places, with WFD efforts increasing by 2% this year - disaster planning down by 2% reshoring down by 3% leadership dvpt. down by 3 % points economic inclusion up by 4 % points
- #10 Lack of skilled labor remains a top concern – 2 years ago it was a problem for 50% of respondents…while efforts are increasing, EDOs are still grapplng with this issue Infrastructure problems have grown significantly only getting 12% in 2010 Recession/post-recession budget cuts have also been a top concern
- #11 * Lack of political support for ED was 22% in 2009, and the incentives debate was not a concern
- #12 Uncertainty – what we do at 3% GDP, Amazon/retail and Watson, attacks to slow/Trump effect, regionalization here to stay. Workforce – Growing skills gap, Camoin is experiencing it right now Culture – grocery store and ground beef, culture is different elsewhere and it shows in more than the cost of doing businesses. Education – CEcD, Texas - 4A and 4B, Connecticut – TIF, Florida - WF Value – its all inter-related, we need to do a better job of measuring impact Story Telling – we need to do a better job of telling stories about how individuals, families and communities are impact by the work you do
- #13 Began in 1980 CALED supports its members through information, technical assistance, training, education, and research. Staff of 5 people
- #14 Infographic from: http://www.counties.org/sites/main/files/file-attachments/314_course_manual.pdf
- #15 Local Economic Advisory Program – technical assistance to communities on strategic planning, targeted industries, loan programs, etc. California Enterprise Development Authority – Joint development authority, access to financing California Academy for Economic Development – professional development Certified Digital Marketer: Certified Digital Business Developer: Certified Digital Researcher:
- #16 Local Economic Advisory Program – technical assistance to communities on strategic planning, targeted industries, loan programs, etc. California Enterprise Development Authority – Joint development authority, access to financing California Academy for Economic Development – professional development Certified Digital Marketer: Certified Digital Business Developer: Certified Digital Researcher:
- #17 Staff of 4 plus a dog
- #19 Texas Comptroller of Public Accounts Fiscal Years 2014 and
- #20 Texas Comptroller of Public Accounts Fiscal Years 2014 and
- #21 http://www.counties.org/sites/main/files/file-attachments/314_course_manual.pdf
- #22 http://www.counties.org/sites/main/files/file-attachments/314_course_manual.pdf
- #23 http://www.counties.org/sites/main/files/file-attachments/314_course_manual.pdf
- #27 Technology – RFP board, job postings, news, outlook calendar reminders