Presentation is loading. Please wait.

Presentation is loading. Please wait.

January 25, 2010 Metropolitan Business Planning Initiative Project Kick-Off Meeting CONFIDENTIAL – for Internal Team & Partner Discussion ONLY.

Similar presentations


Presentation on theme: "January 25, 2010 Metropolitan Business Planning Initiative Project Kick-Off Meeting CONFIDENTIAL – for Internal Team & Partner Discussion ONLY."— Presentation transcript:

1 January 25, 2010 Metropolitan Business Planning Initiative Project Kick-Off Meeting CONFIDENTIAL – for Internal Team & Partner Discussion ONLY

2 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

3 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

4 Todays Goals Get to know each other Situate our work together Begin to dig into the work Get clear on next steps Get to know each other Situate our work together Begin to dig into the work Get clear on next steps

5 II.Project Background TODAYS AGENDA A. Goals B. Logic – 1. Why Metros? 2. Why Business Planning? 3. MBP Elements 4. Federal Policy Implications C. Outputs A. Goals B. Logic – 1. Why Metros? 2. Why Business Planning? 3. MBP Elements 4. Federal Policy Implications C. Outputs

6 Project Goals

7 IMPLEMENT THE BLUEPRINT: go deeper to model specific, sophisticated development work, develop actionable plans, strengthen partner metro economies and enhance peer learning. ADVOCATE NEW FEDERALISM: identify and reveal the benefits of new partnership approaches and policies that place metros at the center of federal-state-local relations. DISPLAY THE NEW METROPOLITAN LEADERSHIP: demonstrate the existence of strong metropolitan leadership in forging comprehensive, integrated, and sophisticated metropolitan economic strategies. Economic development is metro-led.

8 Why Metros? Economic Geography and Place-Based Development The Goal is National Economic Growth Goal is economic development - that is inclusive and sustainable. Metros are the means, not the ends

9 The Goal is National Economic Growth Economic Growth Flows from Market Activity The outputs we care about – jobs, income, assets, sustainability – are primarily a function of the complex interaction of housing, labor, business and other market systems, enabled and shaped by government and civic sector activity Goal is to improve performance of these systems Why Metros? Economic Geography and Place-Based Development

10 The Goal is National Economic Growth Economic Growth Flows from Market Activity Major Market Systems Operate at the Metro Level System performance is function of interactions of people and firms in context of characteristics of place – on the ground. Key geography of many of these systems and interactions is metropolitan region. Indeed, one of main reasons for very existence of cities is the agglomeration benefits of concentrating economic activity – an effect of place on market performance. Why Metros? Economic Geography and Place-Based Development

11 The Goal is National Economic Growth Economic Growth Flows from Market Activity Major Market Systems Operate at the Metro Level Improving Metro Economic Performance Entails Customized Analysis and Activity System and environmental characteristics, opportunities and challenges on the ground vary by place. Particularly in the knowledge economy, increasing returns and imperfect competition are giving rise to specialization and divergence. Why Metros? Economic Geography and Place-Based Development

12 The Goal is National Economic Growth Economic Growth Flows from Market Activity Major Market Systems Operate at the Metro Level Improving Metro Economic Performance Entails Customized Analysis and Activity To strengthen the national economy, we need to strengthen metro economies, and that requires ground-up, tailored, comprehensive activity. Why Metros? Economic Geography and Place-Based Development

13 Why Metropolitan Business Planning? The steps to analyzing and improving a regional economy lend themselves to the proven discipline of business planning. ECONOMIC DEVELOPMENT PLANNINGTRADITIONAL BUSINESS PLANNING Vision for the Regional EconomyBusiness Mission & Vision Status of Economy: Assets, Opportunities, Challenges Market Analysis Goal-Setting & Strategy IdentificationAnalysis of Strategic Alternatives & Risks Identification of Policies, Programs, Products & Interventions Development of Products & Services Operational Planning for ImplementationOperational & Management Planning Identification of Funding Needs and Sources Forecasting & Financial Planning Definition of Outcome Measures & TargetsTarget-Setting & Performance Tracking

14 Elements of the Business Plan MEASURABLE OUTPUTS/IMPACTS Wage Growth, Reduction in Unemployment, Reduction in CO2 Emissions, Neighborhood Revitalization MEASURABLE OUTPUTS/IMPACTS Wage Growth, Reduction in Unemployment, Reduction in CO2 Emissions, Neighborhood Revitalization MISSION/VISION Competitiveness (Wages, GRP, Innovation) Sustainability (VMT, Energy Efficiency) Inclusion (Participation in Employment, Business and Market Growth) MISSION/VISION Competitiveness (Wages, GRP, Innovation) Sustainability (VMT, Energy Efficiency) Inclusion (Participation in Employment, Business and Market Growth) PRODUCTS AND INTERVENTIONS WIRED Program, Regional Inclusionary Zoning, Green Impact Zones, PRODUCTS AND INTERVENTIONS WIRED Program, Regional Inclusionary Zoning, Green Impact Zones, INSTITUTIONAL AND FINANCIAL IMPLICATIONS Regional Information Infrastructure Regional Coordination Specific Institutions/Implementation Capacity Financials Investment Prospectus Tied to Outcome Measures INSTITUTIONAL AND FINANCIAL IMPLICATIONS Regional Information Infrastructure Regional Coordination Specific Institutions/Implementation Capacity Financials Investment Prospectus Tied to Outcome Measures MARKET SCAN Status, Systems, Dynamics (Spatial efficiency, Human capital trends matched to business growth, Business clusters/performance….) MARKET SCAN Status, Systems, Dynamics (Spatial efficiency, Human capital trends matched to business growth, Business clusters/performance….) GOALS/STRATEGIES Transit-Oriented Development Coordinated Workforce and Occupational Clusters Inner-City Retail Development GOALS/STRATEGIES Transit-Oriented Development Coordinated Workforce and Occupational Clusters Inner-City Retail Development

15 MARKET SCAN: Patents, technology transfers, venture capital investments, start-ups,... ILLUSTRATIVE STRATEGY: Increase commercialization of knowledge PRODUCTS/INTERVENTIONS: Innovation funds, business incubators, university partnerships, regional innovation consortia, etc. OUTPUTS/IMPACTS: New products, business starts, increased productivity, employment; … GOAL: Increase innovation rate Example: From Goals to Products

16 Implications for Federal Policy The federal government should strategically invest in regional prosperity as a priority for national economic growth. The federal government should incent and support comprehensive, integrated regional business planning, as it will enable more effective and efficient federal investment. Since regional performance depends upon local, specialized system interactions, the federal response needs to be cross- program, flexible and performance-driven. The federal government should strategically invest in regional prosperity as a priority for national economic growth. The federal government should incent and support comprehensive, integrated regional business planning, as it will enable more effective and efficient federal investment. Since regional performance depends upon local, specialized system interactions, the federal response needs to be cross- program, flexible and performance-driven. Federal policy should be driven ground-up by regional development plans (reversing the current dynamic).

17 Project Outputs MBP, including Overview and DDI Prospectus Cross-site policy implications paper Summit presentations MBP, including Overview and DDI Prospectus Cross-site policy implications paper Summit presentations Demonstrate better ways to invest in metros to strengthen national economy; develop new federal policies and programs.

18 DISCUSSION

19 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

20 Purpose of Framework Shared understanding of how regional economies work – a theory of change -- enables us to: Focus on what matters Understand how it causes economic growth Determine how to improve performance Develop common language, plan coverage and presentation Theres no one right answer… but there are a lot of wrong answers

21 Our Starting Point: the Blueprint Drivers To implement, we need to move from descriptive to explanatory: understand underlying systems/mechanisms, and how to influence their performance. GOOD METROPOLITAN GOVERNANCE Sustainable Growth Inclusive Growth Productive Growth INNOVATIONHUMAN CAPITALINFRASTRUCTUREQUALITY PLACES PROSPERITY

22 Key Systems (Market processes – housing, labor, etc.; production dynamics – clusters, value chains, etc.; innovation dynamics - knowledge creation, networks, commercialization, etc.) Local (Regional) Enabling Environment (Government regulation, tax and public goods, including particularly infrastructure and education; civic institutions; qualities of place, including the natural environment; etc.) Local (Regional) Enabling Environment (Government regulation, tax and public goods, including particularly infrastructure and education; civic institutions; qualities of place, including the natural environment; etc.) Inputs to Production (Human capital; real estate; capital; natural and knowledge resources; etc.) Economic Outputs (Businesses – gross regional product, profits; households – wages, other income, etc.) Macro/Global Context & Trends What Drives Inclusive and Sustainable Economic Growth?

23 How Metro Economies Grow Metro economy = total value of goods and services produced in the region Growth is inherently business sector growth (number, size and profitability of firms) Business sector grows through firm growth and location decisions (retention and attraction) Firm growth and location depend upon increases in efficiency and productivity (of firm and system, including product innovation) Core Question: What attributes of the region increase efficiency and productivity, leading to business sector growth? Micro-Foundations

24 What is it About Place that Affects Economic Performance? Cities exist to eliminate transport costs for people, goods and ideas (Glaeser) Urbanization and Localization Economies: general and industry-specific benefits of concentration as workers and firms co-locate because of spillovers, synergies, shared labor and job pools, backward and forward linkages among firms, etc. – generating increased efficiency and productivity through flow of ideas and technologies, enhancements to human capital, economies of scale, reduced transaction and transport costs, and so forth. (Marshall, Krugman) New Growth Theory: location is becoming more important, and with different benefits, in the knowledge economy, as metros become increasingly centers of idea creation and transmission (through technology, human capital externalities, intellectual spillovers). Increasing returns to knowledge and imperfect competition lead to metro specialization and divergence. (Romer, Lucas) Institutional Economics: growth, and particularly innovation, take place in the context of an institutional infrastructure – research, professional and learning networks; universities and civic/business organizations; quasi- and governmental organizations and regulation – which can hamper or accelerate all of the other benefits of concentration. (Coase, Atkinson) Productivity and efficiency depend upon concentrations, interactions and synergies between economic activities Key Q: Where are the leverage points to improve system performance? Productivity and efficiency depend upon concentrations, interactions and synergies between economic activities Key Q: Where are the leverage points to improve system performance?

25 Six Key Leverage Points Take Us from Theory to Practice Enhance Regional Concentrations (and their performance): Industries, Occupations and Functions Deploy High Human Capital Aligned with Job Pools Develop Innovation Enabling Infrastructure Increase Spatial Efficiency Create Effective Public & Civic Culture & Institutions Develop and Deploy Information Resources Enhance Regional Concentrations (and their performance): Industries, Occupations and Functions Deploy High Human Capital Aligned with Job Pools Develop Innovation Enabling Infrastructure Increase Spatial Efficiency Create Effective Public & Civic Culture & Institutions Develop and Deploy Information Resources These overlap, and themselves interact. This is work-in-process! Anticipate expanding and refining, especially in practice.

26 Enhance Regional Concentrations: Industries, Occupations and Functions What is it? This leverage point has to do with clustering, recognizing that what is clustering may be shifting - - toward occupations and functions -- and the whole notion may need to be broadened, brought to ground, and complemented with other production-side strategies. It focuses on the optimal interaction between production components of an economy – the optimal mix and scale of industries, occupations, functions; multiple specializations; etc. Cultivating benefits of concentration requires understanding nuances of what and how specific types of concentrations create efficiencies and enhance productivity in your region. Aspects to consider include: Current concentrations High-growth potential areas Geography of concentrations Optimal mix and scale of industries, occupations, functions What factors (locational, institutional, others) contribute to efficiency/productivity benefits gained from concentration Strategies might include: Provide co-location opportunities (e.g., business parks) Offer co-location incentives Enhance access to capital for targeted concentrations Strengthen institutional and network infrastructure Strengthen inputs to concentration – from training/education to venture capital Leverage Point 1

27 Deploy High Human Capital Aligned with Job Pools What is it? This leverage point addresses human capital in the context of economic performance: the goal is not just human capital, but linked, mutually reinforcing, human capital and job pools. Pools of workers and jobs/firms attract each other. Not just quality, but deployment, are key to productivity and efficiency gains. Entails a two-fold, iterative process: Growing supply of skilled workers to meet employer demands Growing demand for skilled workers by cultivating appropriate jobs Aspects to consider include: Concentrations and growth prospects (both skills and occupations) Existing skills/education levels – obstacles and opportunities Quality of education/training system Attraction/retention record and factors Strategies might include: Increase demand-side focus of workforce development Increase access, reduce transaction costs in labor market Links to occupational concentration strategies (Leverage Point 1) Production, attraction, retention strategies Leverage Point 2

28 Develop Innovation Enabling Infrastructure What is it?* Innovation inherently drives increasing productivity and efficiency, and is the source of all long-term growth. An infrastructure providing inputs and mechanisms to facilitate interactions and commercialization enhances innovation rates. Aspects to consider include: Cluster formation and dynamics Public sector enablers/constraints Nature of supporting institutions and networks Flow of R&D and early-stage business funding Rate/pattern of commercialization Firm starts, growth, trajectories Strategies might include: Build regional R&D capacity (education, facilities, funding) Foster entrepreneurship & commercialization of knowledge Institutional development: facilitate opportunities for interdisciplinary cross- fertilization Cluster formation, especially high human capital occupational concentrations (Leverage Points 1 and 2) Leverage Point 3 *…new products, new services, new technologies, new ways of organizing work, and new business models…. (Brookings Metro Policy)

29 Increase Spatial Efficiency What is it? The location of firms and workers, producers, suppliers and consumers within the region determines transportation costs for people and businesses, and influences agglomeration benefits (such as shared inputs and knowledge spillovers). Generally, to increase efficiency and productivity of the metro economy, we want to: Minimize transportation costs Reduce congestion Maximize agglomeration benefits Avoid segregation and concentration of poverty Aspects to consider include: Public policies re: land use/zoning, infrastructure, etc. Degree of housing-jobs mismatch Access to transit Spatial concentrations of firms, occupations, functions, etc. Strategies might include: Transit-oriented and mixed-use/mixed-income development Affordable housing programs (inclusionary zoning, etc.) Fostering business co-location Leverage Point 4

30 Create Effective Public & Civic Culture & Institutions What is it? Government and civic sector activities hinder or enhance the productivity and efficiency of the economic systems themselves – attracting entrepreneurs, enabling markets, lowering transaction costs, increasing deployment of assets, etc. A culture of trust and collaboration, as well as institutional flexibility and adaptability, are increasingly important (including particularly to leverage points 1 and 3). Aspects to consider include: Degree of horizontal and vertical fragmentation Areas and mechanisms for inter-jurisdictional coordination Transparency, openness, responsiveness Strategic engagement of citizens, private and civic sectors Strategies might include: Consolidation Revenue sharing Civic engagement (program specific) E-government Fast-tracking Special purpose entities Tailored incentives Leverage Point 5

31 Develop and Deploy Information Resources What is it? Rich information resources and networks increase market efficiencies by reducing finding, measurement and other transaction costs; facilitate knowledge spillovers and innovation; and enable continued business planning, monitoring and refinement. Aspects to consider include: Collection, accessibility, dissemination of relevant info Development and provision of analytic tools (not just data: answers) Specific market inefficiencies, barriers, opportunities Strategies might include: Data warehouse Market driven planning agency Cluster or strategy specific on-going shared info/analytics Leverage Point 6

32 Current Economys Meta-Drivers Also Shape Strategic Interventions Export-oriented Innovation-led Opportunity-rich Low-carbon Export-oriented Innovation-led Opportunity-rich Low-carbon Huh??? What?!! Eureka!

33 Our Starting Point: the Blueprint Drivers GOOD METROPOLITAN GOVERNANCE Sustainable Growth Inclusive Growth Productive Growth INNOVATIONHUMAN CAPITALINFRASTRUCTUREQUALITY PLACES PROSPERITY

34 GOOD METROPOLITAN GOVERNANCE Sustainable Growth Inclusive Growth Productive Growth INNOVATIONHUMAN CAPITALINFRASTRUCTUREQUALITY PLACES PROSPERITY Where We are Now: An Economic Framework for Business Planning

35 Levers / Interventions Strategies & Implementation Prosperity Export-oriented Low-carbon Innovation-driven Opportunity rich Metro-led Fundamental Drivers of Prosperity Innovation Infrastructure Human Capital Quality Places Governance Develop and Deploy Information Resources Develop Innovation- Enabling Infrastructure Create Effective Public & Civic Culture & Institutions Create Effective Public & Civic Culture & Institutions Deploy Human Capital Aligned with Job Pools Enhance Regional Concentrations Increase Spatial Efficiency

36 DISCUSSION

37 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

38 Metro Development Baseline/Overview (MDBO) Mission/Vision Market Scan/Environmental Analysis Goals Strategies Detailed Development Initiative (DDI) Products, Policies, Programs, Interventions Organizational & Operational Implications Financial Implications Performance Metrics Pilot MBPs Will Lay the Groundwork Future DDI Metropolitan Investment Prospectus Future DDI

39 Metro Development Baseline/Overview (MDBO) Mission/Vision: Sustainable communities…dense nodes…efficiently linked people & businesses Market Scan Results: Emerging specialization in alternative energy businesses and occupations Goals: Increase number of establishments, employment and total payroll in the alternative energy field Strategies: (a) Co-location incentives; (b) Targeted, demand-driven workforce devel.; (c) Links to students Detailed Development Initiative (DDI) Intervention: Cluster-Focused Industrial Park that: Facilitates business co-location Houses on-site training academy that Provides skill devel. for key occs./functions Utilizes demand-driven curriculum Offers internship, co-op & mentorship opportunities to local students Operational Plan Financial Sources & Uses Metrics: new jobs, new cos., $payroll, $GMP, etc. What Might a Pilot MBP Look Like? Metropolitan Investment Prospectus

40 CLEVELANDSummary of Content Mission/Vision Northeast Ohio is a diverse, united region made up of individuals fully engaged in creating a vibrant regional economy home to growing, innovative employers, connected core communities and valued natural spaces. All residents participate fully in educational and economic opportunities and engaged citizens promote collaborative local governments that support sustainable growth. 6 core cultural principles 4 future characteristics Market Scan 4 top-line economic growth measures – % change in employment, income, productivity and output 9 indicators: (1) Skilled Workforce and R&D, (2) Legacy of Place, (3) Urban Assimilation, (4) Racial Inclusion and Income Equality, (5) Locational Amenities, (6) Technology Commercialization, (7) Urban/Metro Structure, (8) Individual Entrepreneurship, (9) Business Dynamics 36 supporting variables arrayed under the 9 indicators Goals Top-level goals: Per capita income > national average Job growth > national average Core city poverty < 20% Area-specific goals and quantitative targets re: Business Growth, Talent Development, Racial and Economic Inclusion, Government Collaboration and Efficiency Strategies Entrepreneurship: maximize available capital and provide needed consulting/services Innovation/Research: attract more state $ in key industries, align efforts re: federal R&D/commercialization $, attract high-growth cos., assist transition of existing cos. Inclusion: network to support sales growth in minority businesses Talent Development: align stakeholders to increase attainment and create life-long learning culture Government: Educate, engage and empower citizens to advance key initiatives Detailed Development Initiative Integrate and increase flexibility of a variety of existing manufacturing extension, Small Business Administration, work force and other programs to assist a growing portfolio of high potential but challenged manufacturing companies transition to new markets with strong growth potential thereby diversifying and fortifying the regional economic base and providing employment opportunities for displaced workers.

41 TWIN CITIESSummary of Content Mission/Vision The vision of the Twin Cities Metropolitan Business Planning Team is to facilitate transformation of the regional economy to a system that: Underwrites the emergence of the Twin Cities as a magnet for young, entrepreneurial talent Is coupled with effective planning on a metro-wide scale Is able to make strategic investments in education, workforce development and other areas critical to continued competitiveness Leads firms to recognize the regions core competencies and choose to cluster in the Twin Cities region Meets the range of needs specific to entrepreneurs operating in the region Facilitates effective commercialization of research emerging here. Market Scan Itasca Project Job Growth Task Initiative categories: Cost of doing business – tax environment, legislative/regulatory, labor cost Quality of life – crime rate, volunteerism and arts, civic engagement, leisure activities Human capital – education attainment, school test performance, achievement gap Infrastructure – commute times, avg. annual delay, public transportation mode share Innovation and start-up – sm. biz survival index, per capita VC $, sm. Biz financing, entrepreneurs/100K population, churn, R&D $, productivity Twin Cities Compass – Civic Engagement, Early Childhood, Economy & Workforce, Education, Environment, Health, Housing, Public Safety, Transportation Minneapolis-St. Paul Business Vitality Index Goals Develop a unified regional vision Develop a regional investment model Develop a regional economic development organization Focus on innovation, commercialization and entrepreneurship as job growth enablers Strategies Leverage cluster analysis (underway) to target efforts Retool financial & tax environment for entrepreneurs and start-ups Establish a medium for exchange and support Foster regional amenities that attract creative workforce Detailed Development Initiative …to increase innovation, commercialization and entrepreneurship in our region…as a powerful response to lagging job growth and economic uncertainty. … a strategic initiative centered around transforming the regions innovation and entrepreneurial culture, with a particular, but not exclusive focus on the millennial generation. This strategic focus will allow us to respond to both the new economic realities as well as the new worldview held by this rising generation.

42 SEATTLESummary of Content Mission/Vision 1.People living here have good jobs and earn good incomes. 2.Jobs are created by businesses. 3.Embracing our regions diversity is good for business. 4.The region has vibrant cities and thriving communities. 5.The region has a healthy and beautiful environment and a good quality of life. 6.Regional collaboration on a shared economic agenda ensures our regions long-term, sustainable economic prosperity. Market Scan Characteristics of 15 identified/existing industry clusters Regional Competitiveness Indicators (vs. 5 US peer regions) report – 20 indicators re: (1) education and the workforce, (2) technology and innovation, (3) enterprise and investment, (4) business climate, (5) transportation and infrastructure, (6) quality of life and social capital International Benchmarking Consortium (vs. 12 intl. peer regions) – in-depth research on a specific theme for annual conference Job openings vs. regional 4-year degree production Goals Most relevant/recently adopted and/or updated goals and strategies include those for: INDUSTRY CLUSTERS: Tourism and Visitors Military Aerospace Life Sciences Clean Technology Strategies FOUNDATIONS: New and small businesses – focus on minority-owned Social Capital/Quality of Life – housing affordability and cultural access Transportation Tax Structure Education Detailed Development Initiative …help develop an industry cluster that can grow our regions economy through the export of goods and services that increase energy efficiency throughout the world

43 MBP Component Metros Progress Next Steps Mission/Vision Ensure mission/vision statements: Create a clear picture of where the metro sees itself in 5, 10, or 50 years Emphasize desired future outcomes, as opposed to the process for achieving them Reflect place-specific priorities/values Incorporate key messages articulated in topic-specific (e.g., transportation, housing) plans/reports Market Scan Organize analytic findings within the MBP leverage points framework Update out-of-date metrics, as data is available Identify and calculate metrics for drivers and leverage points not covered in existing analytic work Integrate analytic results from disparate sources to create a cohesive narrative of the local economy Begin deeper analytic dive into areas related to chosen DDI theme Goals Organize existing goals and strategies within the MBP leverage points framework Identify any gaps in coverage between (existing goals/strategies vs. leverage points) Articulate goals and strategies that fill in gaps, using results of Brookings-led and local market scan Quantify goals, where possible Strategies Detailed Development Initiative Convert DDI theme into discrete, concrete project by: Specifying the products, services and programs the DDI will deliver to implement the selected strategies; Conducting deeper market analysis on the relevant area(s) of the economy; Identifying and developing design, implementation, financial and other information from best comparable products, services and programs

44 The Market Analysis / Environmental Scan Describes and Situates Regional Economies The concept of the baseline scan is to: Identify and measure key indicators of metro performance in the new economy Survey how well the regional economy is doing, what drives it, and what may be inhibiting its performance Inform the development of goals, strategies, and specific initiatives, setting the context for and informing the Detailed Development Initiative The concept of the baseline scan is to: Identify and measure key indicators of metro performance in the new economy Survey how well the regional economy is doing, what drives it, and what may be inhibiting its performance Inform the development of goals, strategies, and specific initiatives, setting the context for and informing the Detailed Development Initiative

45 Selected Indicators Measure What Matters The purpose of the scan is to determine: What is important to measure? Metrics selected according to economic development theory and relevance to practice What factors deserve development attention? Scan includes both high-level output measures (e.g., GMP) as well as outcome metrics (e.g., innovation rates) that can describe the performance of key factors/systems that account for overall performance How can metros do better on targeted factors? Scan also evaluates measures of inputs and mechanisms (e.g. availability of venture capital) that can be influenced to improve performance of key factors/systems The purpose of the scan is to determine: What is important to measure? Metrics selected according to economic development theory and relevance to practice What factors deserve development attention? Scan includes both high-level output measures (e.g., GMP) as well as outcome metrics (e.g., innovation rates) that can describe the performance of key factors/systems that account for overall performance How can metros do better on targeted factors? Scan also evaluates measures of inputs and mechanisms (e.g. availability of venture capital) that can be influenced to improve performance of key factors/systems

46 Brookings Will Compare Inputs and Performance Across the Top 100 Metros Output Productivity Wages E.g., human capital College attainment Knowledge occupations E.g., human capital College attainment Knowledge occupations High school attainment Labor force participation High school attainment Labor force participation Prosperity DriversLevers

47 Local Analysis Will Enhance the Brookings Scan with Additional, Specifically Local, Indicator Work E.g., human capital Skills/job matching Knowledge occupations in XYZ industries E.g., human capital Skills/job matching Knowledge occupations in XYZ industries Vocational and specialized degree programs Prosperity DriversLevers

48 MDBO & DDI Need to Move Ahead Simultaneously TASKSPRIMARY RESPONSIBILITY MDBO Continue fitting existing work into MBP framework Metro Partners Write narrative section for Regional Economic Framework Brookings/RWV Team Identify gaps in MDBO & move toward filling inMetro Partners (w/assistance) Complete & distribute baseline scanBrookings/RWV Team Light metro-tailored narrative to accompany Brookings baseline scan Brookings/RWV Team DDI Propose refinement of initial conceptMetro Partners Identify relevant case studies &/or experts for consultation Brookings/RWV Team Begin defining specific project parametersMetro Partners (w/assistance)

49 DISCUSSION

50 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

51 Partners Share Challenges and Learning Opportunities Themes are emerging from early conversations and materials Areas of common exploration/struggle Areas of relative strength in particular metros Two topics to start the cross-metro conversation: Innovation and entrepreneurship Managing regional growth – sustainability and spatial efficiency Themes are emerging from early conversations and materials Areas of common exploration/struggle Areas of relative strength in particular metros Two topics to start the cross-metro conversation: Innovation and entrepreneurship Managing regional growth – sustainability and spatial efficiency

52 Innovation and Entrepreneurship Common threads: Central to all 3 metros economic development plans Variations in approach and application Struggle to create meaningful metrics Striving to develop concrete interventions to enhance performance Kicking off todays discussion: Clevelands success in fostering growth of new, cutting-edge businesses through JumpStart program Twin Cities pursuit of a DDI to drive innovation and small business growth, particularly among Millennials Common threads: Central to all 3 metros economic development plans Variations in approach and application Struggle to create meaningful metrics Striving to develop concrete interventions to enhance performance Kicking off todays discussion: Clevelands success in fostering growth of new, cutting-edge businesses through JumpStart program Twin Cities pursuit of a DDI to drive innovation and small business growth, particularly among Millennials

53 Managing Regional Growth for Enhanced Economic Performance Regional growth strategy can contribute to multiple MBP objectives: Sustainability Inclusion Spatial efficiency Etc. Kicking off todays discussion: Growth strategy underlying Seattles integrated regional planning process – PSRCs Vision 2040, Regional Economic Strategy and Transportation 2040 Regional growth strategy can contribute to multiple MBP objectives: Sustainability Inclusion Spatial efficiency Etc. Kicking off todays discussion: Growth strategy underlying Seattles integrated regional planning process – PSRCs Vision 2040, Regional Economic Strategy and Transportation 2040

54 Other Idea-Sharing Opportunities?

55 TODAYS AGENDA I.Welcome, Introductions, and Todays Goals II.Project Background III.Economic Framework – Understanding Metro Economies IV.Applying the Framework: MBPs V.Common Challenges and Cross-Fertilization Opportunities VI.Logistics – Work Plan, Timeline and Funding

56 MBP Project Timeline is Aggressive MILESTONETYPE * TARGET DATE Project Kick-Off MeetingMJanuary 25 Metro Partner Site VisitsMFebruary 1 – 19 Brookings scan/spreadsheetDFebruary 19 Initial draft framework and scan narrativeDMarch 19 1 st Draft of MDBODApril 19 Peer Learning Session #1MWeek of May 3 Final MDBODMay 17 1 st Draft of DDI & ProspectusDJune 7 Peer Learning Session #2MWeek of June 21 Final MBP (MDBO + DDI) & ProspectusDSeptember 15 Global SummitMDecember 2010 * M = Meeting | D = Deliverable

57 Other Logistical Issues Metro partners funding status Scheduling site visits Cleveland Twin Cities Others? Metro partners funding status Scheduling site visits Cleveland Twin Cities Others?

58 Closing Remarks


Download ppt "January 25, 2010 Metropolitan Business Planning Initiative Project Kick-Off Meeting CONFIDENTIAL – for Internal Team & Partner Discussion ONLY."

Similar presentations


Ads by Google