Eric Pages, President and Founder of Entre Works, an economic development consulting firm discussed innovative economic development strategies as they relate to Brooklyn businesses and residents. Dr. Pages has worked with Kingsborough Community College to develop economic and workforce development strategies in Brooklyn and surrounding communities.

1. Future Trends in Economic
Development: What Do They Mean
for Kingsborough & Brooklyn?
Erik R. Pages
EntreWorks Consulting
February 10, 2009

2. Our Topics Today
• Economic Development Then & Now
• The Obama Transition
• What Does It Mean for Kingsborough
and Brooklyn
• Future Roles for CEWD

3. The Economic Development Pitch:
THEN
• Strong Work Ethic
• Low Cost
• Good Location
• Strong Business Leadership

4. The Economic Development Pitch:
NOW
• Talented Workforce/Entrepreneurs
• Quality of Life
• Good Location
• Strong Civic Leadership

5. What Does This Mean?
Trends in Economic Development
• Regionalism
• Private Sector Leadership
• Greater Focus on Workforce
• Collaboration across Sectors
• Focus on Innovation, Entrepreneurship and
Creativity

6. • Scale and Scope to Compete in Global Markets
• Branding
• Reduce Fragmentation
• More Ideas Can Equal Better Ideas
• Improve Services and Reduce Costs
• EXAMPLES: Northeast Ohio’s Team NEO
(www.teamneo.org)
Why Regionalism?

7. Private Sector Leadership
• More responsive to market forces
– Better Early Warning Systems
– More Flexible
• Better Access to Resources
– Both Money & Talent
• EXAMPLES: Delaware’s First State Innovation
(www.firststateinnovation.org)

8. Workforce
• Regions Need a Talented and Agile
Workforce
– Talent: Skills aligned with local clusters
– Agile: Workers can adapt to multiple
sectors and career paths
• Project-Oriented Work More Prevalent
– “The Gig Economy,” “Free Agent Nation”

9. • The End of Stovepipes?
• Broadening of Traditional Economic Development
Mission
– No longer just job creation
• Emergence of New Issues
– E.G., Affordable Housing, Attractive Amenities
• EXAMPLES: Kokomo Indiana’s Workforce
Development Strategies, Inc. (www.wdsi.org)
Collaboration Across Sectors

10. Innovation/Creativity/
Entrepreneurship
• Talent Development and Attraction as Key
Missions
• Entrepreneurs as Key Wealth Creators
• Openness and Diversity as Key Local Assets
• EXAMPLES: Racine, WI’s CATI
(www.thecati.com), Springfield Technical
Community College (www.stcc.edu)

11. Obama and the New ED
Paradigm
• Approach to Communities:
– Will be Holistic (e.g. Promise Zones)
– Will be Regional (e.g. Cluster Strategies)
– Will Promote Innovation or “Stim-Novation”
• Green Jobs
• Smart Infrastructure
– Will embrace talent development
• Up to $100 billion in stimulus for
education/workforce related investments

12. What Does It Mean for
CEWD?
• Need Closer Engagement with Private
Sector Leaders
• Break Barriers between Education,
Business, and Economic Development
– Primary Mission for CEWD
• Engage New Players
– CDCs, Neighborhood Assns, Other NGOs

13. Is Brooklyn Ready?
Existing Assets
• Strong Base of Entrepreneurs
– More than 41,000 small businesses
– More than 180,000 self-employed
• Diverse, globally-oriented citizenry
• Strength in Key Clusters
– Hospitality/Food
– Arts/Culture
– Health Care

14. Future Roles for CEWD
• Build on Kingsborough’s current cluster
strengths
– Hospitality and Tourism
– Entrepreneurship Training (e.g. IVE)
• Target New Sectors, such as “Green Jobs”
• Provide Business Support Services in local
neighborhoods
• Build a Center for the Local Economy

15. Thanks!!
For More Information:
Erik R. Pages
EntreWorks Consulting
703-237-2506
Epages@entreworks.net
www.entreworks.net