Presentation is loading. Please wait.

Presentation is loading. Please wait.

— 1 — © 2013 ViTAL Economy, Inc. Community Economic Development Kick-off February 15, 2013 Frank Knott – Mark Madsen –

Similar presentations


Presentation on theme: "— 1 — © 2013 ViTAL Economy, Inc. Community Economic Development Kick-off February 15, 2013 Frank Knott – Mark Madsen –"— Presentation transcript:

1 — 1 — © 2013 ViTAL Economy, Inc. Community Economic Development Kick-off February 15, 2013 Frank Knott – Mark Madsen – Jim Haguewood –

2 — 2 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

3 — 3 — © 2013 ViTAL Economy, Inc. SeVEDS Leadership Board David AlstadtWindham Workforce Investment Board Bill ColvinBennington Regional Commission Tim CullenenTown of Rockingham – Village of Bellows Falls Colby DixVermont Geeks Jill JamesChroma Martin LangeveldStrolling of the Heifers Jeff LewisBrattleboro Development and Credit Corp Susan McMahonWindham Regional Commission Patrick MorelandTown of Brattleboro Stephan MorseRetired Adam GrinoldMt. Snow Valley Chamber of Commerce Jenna PuglieseStratton Mountain Resort Drew RichardsRichards Insurance Barb SondagTown of Brattleboro Julia SorensenBrattleboro Retreat Bob StevensStevens and Associates Lisa SullivanBartleby's Books Dan YatesBrattleboro Savings & Loan Laura SibiliaBDCC SeVEDS Project Director

4 — 4 — © 2013 ViTAL Economy, Inc. SeVEDS Addition CEDS Committee Members Rachel SelskyCamoin Associates Stephanie HuestisPeoples Bank Andy RobinsonDepartment of Labor Bill AntonDover School Principal Chris MooreAttorney in Bellows Falls Connie SnowWindham Windsor Housing Dutch WalshTown of Rockingham Gail NunziataLatchis Roger Albeeformer VT Secretary of Agriculture, VT Technical College Oliver OlsenOracle

5 — 5 — © 2013 ViTAL Economy, Inc. SeVEDS Mission Statement SeVEDS exists to reverse the economic decline of this region Allowing the stagnant economic and demographic trends that have persisted over the last decade to continue in southeastern Vermont threatens the Vermont Brand and post card perfect perception of our quality of place. It is time to stick a stake in the ground and say “enough is enough” and develop strategies and actions based on our assets to reverse those trends.

6 — 6 — © 2013 ViTAL Economy, Inc. Low wages, a rising cost of living and limited job opportunities create a disconnect between the skills needed by employers and the skills held by the workforce. This leads to a widely shared sense of economic insecurity resulting in many Vermonters looking for economic opportunity elsewhere, and few choosing Vermont as a place to live and conduct business. SeVEDS Shared Sense of Urgency

7 — 7 — © 2013 ViTAL Economy, Inc. SeVEDS Vision Southeastern Vermont will have an economy that generates long-term growth and prosperity and that improves our quality of life and sustains our quality of place.

8 — 8 — © 2013 ViTAL Economy, Inc. SeVEDS 2017 Objectives (Goals) 1.Create Operational and Fiscal Sustainability Plan for SeVEDS by December Improve Wage Parity with Surrounding Labor-shed 3.Increase the Size and Quality of the Workforce 4.Increase population proportion of year olds from 23% to 28% of total population by Create an Entrepreneurial Environment

9 — 9 — © 2013 ViTAL Economy, Inc. Base SeVEDS Region MetricsBaseline*2017 Goal%ChangeTotal Change Population42,605 0%- Employable Population (16 and older)35,520*36, %+651 Labor Participation Rate65%*68.8%+5.8%- Total Employed23,089*24, %+1,805 Average Wage$38,820$39, %+$1,028/yr Total Region Wages$896M$992M+10.7%$96M Regional GDP$2.37B$2.8B+18.1%$430M Regional Strategic MetricsBaseline2017 GoalChange Ratio Net Earned Income/Total Income %- Increase Median Annual Income for Associates/Some College workforce $26,855$32, % +$5.145/yr ($2.47/hr) Increase Median Annual Income for Bachelors Degree workforce $32,518$39, % +$6,482/yr ($3.12/hr) Increase employment by 20% in five years (2009 data) 10,69112,82920%+2,138 Increase Associates Degrees/Some College and Technical Certificates among age bracket 38% (1,495) 47% (1,884) +23.6%+389 Increase the age population by 20% in five years 9,53311,43920%+1,906 Projected SeVEDS Region 2017 Goals and Outcomes as of 2010 * Base Line data is as of Spring 2010 Note: Baseline and Goals based on 2009 U.S. BEA Data & Estimates

10 — 10 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

11 — 11 — © 2013 ViTAL Economy, Inc. Why Do We Do A CEDS ? Eligibility for economic development assistance funding from EDA EDA can help fund local infrastructure projects, technology-led economic development projects and strategies that respond to sudden and severe economic dislocations from major lay-offs or plant closings. One regional CEDS serves the needs of local governments so that they do not individually need to qualify to receive EDA funds Numerous federal agencies now use the CEDS as a bonus qualifier for prioritization of grant applications. Federal agencies (i.e. USDA, HUD, DOE, DOC, DOL, etc.) are teaming their resources for larger competitive grants. CEDS applicants receive bonus points. Connects local planning efforts to regional strategies

12 — 12 — © 2013 ViTAL Economy, Inc. Why Does SeVEDS Want To Do A CEDS ? Provides more clarity for the initial SeVEDS strategies Educates community to be more engaged and take ownership of CEDS Proven process for building and galvanizing public support Develops a valid implementation plan for the SeVEDS strategy Increases public & private sector networking to achieve more opportunity Creates a common and consistent economic development message Enables strategy integration with Windham Regional Plan & beyond Connects public works projects to priority economic development projects Facilitate discussion of need for an organized system of redevelopment Provides planning mechanism for a post VY economy

13 — 13 — © 2013 ViTAL Economy, Inc. Specific Measurable Achievable Relevant Time Based We are Building a S.M.A.R.T. CEDS to Increase Opportunity

14 — 14 — © 2013 ViTAL Economy, Inc. 1.Process – Based on Best Practices for Regional CED & Collaboration 2.Regional Focus – Enables regions to compete against country strategies 3.Asset-Based – Indigenous assets grow more durable economies 4.Diversified – Makes for a more nimble & resilient economy! 5.Measurable Strategy – Responsive to trends…relevant to region 6.Disciplined & Consistent – All ideas are not equal…priorities matter Keys to Regional S.M.A.R.T. CEDS Development & Implementation

15 — 15 — © 2013 ViTAL Economy, Inc. S.M.A.R.T. CEDS Create and Retain Wealth To Build Prosperity Productivity Innovation in Education Technology Innovation Innovation in Organizations Productivity Innovation in Education Technology Innovation Innovation in Organizations Wealth Creation Increase Exports Increase Value Adding Investment Attraction Wealth Creation Increase Exports Increase Value Adding Investment Attraction Wealth Retention Capture Value Chains Reduce Leakage Recapture Value in Waste Streams Wealth Retention Capture Value Chains Reduce Leakage Recapture Value in Waste Streams Prosperity

16 — 16 — © 2013 ViTAL Economy, Inc. S.M.A.R.T. CEDS Will Increase Economic Opportunity Now: Within 5 Yrs: Collaboration builds critical mass and creates a climate of unlimited economic opportunity!

17 — 17 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions…. Q.Might an important goal be improvement of quality of life. For example – energy consumption. – Isn’t it much more efficient to reduce consumption How much focus will be on reducing consumption? A.Frank Knott – There is a close connection between environment, energy and economic growth. We talk a lot about productivity which is about taking the waste out of the system. At the same time, unless you are increasing wages and earned income you are not improving quality of life. In fact, quality of life suffers in the face of a stagnant economy. The only growth trend in income in this region has been from non-earned income. There as been an increase in sole-proprietors but a decrease in wages earned and proprietor incomes earned. – Is that balanced?

18 — 18 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

19 — 19 — © 2013 ViTAL Economy, Inc. Updating the SeVEDS Regional Profile The profile of a region consists not just of data, but also the influences of events, people, perceptions, and attitudes. The following pages provide a high level summary of the Economic Profile of the SeVEDS region as reflected in Quantitative Statistics. Raw data however is not the only story – On the night of April a devastating fire swept through the iconic Brooks House in downtown Brattleboro Four months later at the close of August Hurricane Irene hit with torrential rains with wide-spread and record level flooding causing significant destruction to homes and businesses and massive devastation to critical infrastructure. Vermont and in particular Southeastern Vermont must continue to plan for a Post-VY reality with the loss of hundreds of high wage jobs and of economic impacts upon the region. Perceptions and attitudes about what constitutes appropriate economic development and growth are not universally shared in Vermont and in particular Southeastern Vermont. Many people have expressed a preference for no economic growth. With the release of the 2010 Census – it has become starkly apparent that projecting population trends for Southeast Vermont defies trend analysis and further confirms the stagnant nature of the regional economy. One thing that is clear is that Windham County is aging faster than almost any other county in Northern New England or the U.S.

20 — 20 — © 2013 ViTAL Economy, Inc. Perceptions of Vermont Economic Performance In February 2011, Dr. Michael Porter from Harvard Business School presented a report to the National Governor’s Association Winter Meeting at the request of Governor Peter Shumlin. The opening page of that report gave Vermont the following ratings relative to the rest of the United States in terms of rank or position and whether the trend was improving or declining: Source: Vermont Competitiveness: State and Cluster Economic Performance, Porter, Michael E., Harvard Business School, paper presented at National Governors Association Winter Meeting, February 26, 2011

21 — 21 — © 2013 ViTAL Economy, Inc U.S. Census – Windham County Demographic Makeup Age Bracket1990%2000%2010 EST%2010 act% 0-43,0527.3%2,3405.3%1,9884.6% 2,1484.8% 5-145, %6, %4, % 4, % ,5716.2%3,1047.0%2,6276.1% 2,8396.4% ,5446.1%2,0504.6%2,5265.9% 2,5135.6% , %4, %4, % 4, % , %7, %5, % 5, % , %7, %7, % 7, % ,4188.2%4, %7, % 7, % ,9147.0%3,1827.2%3,8519.0% 3,9678.9% ,7804.3%2,1174.8%2,0164.7% 2,2195.0% %8742.0%1,0222.4%9812.2% Total41,58844,21642,85644,513 median Age Median Age EST2010 Act Vermont Maine Mass US Source: Census Bureau 2010, 2012 Note the 2010 estimates from the U.S. Census Bureau. Windham County has defied even the best demographers effort to forecast population and demographics. At the same time US Census bureau projected 2010 pop of 42,856, MIT projected 45,796. For 2015, US Census projected Windham population of 41,804, Woods and Poole estimated 45,601 and MIT projected 46,455.

22 — 22 — © 2013 ViTAL Economy, Inc. Windham County Percentage Change in Demographic Makeup In the 2010 Census, Maine and Vermont ranked #1 and #2 as the oldest states. and Windham County is aging faster than Maine and Vermont. Significant increase in the population of those people approaching retirement age Age groups entering the working population (late teens and early twenties) are small Significant decrease in prime workforce and childbearing ages Continual decline in the number of school-aged children since 1990’s Source: Census Bureau 2010, 2012

23 — 23 — © 2013 ViTAL Economy, Inc. Source: US Census Note: The Census Bureau makes a statistical correction, called a “residual”. Therefore Natural change plus net migration may not add to the total population change in the previous tables “Demographic is Destiny” – Arthur Kemp Components of SE Vermont Population Change

24 — 24 — © 2013 ViTAL Economy, Inc. The major differences between the SeVEDS Region and the U.S. economy’s is the ability to attract and retain the age cohort. The implications are: (1)The reduced ability to produce future workforce participants through birth, and (2)Lack of immigration to replace the aging baby boomer work force. How will SeVEDS attract and retain a future workforce? Source: US Census American Community Survey Table B Demographic research confirms that 90% of U.S. employment gaps have been filled by immigrants at all levels of employment. A regions ability to grow is dependent on its ability to provide a climate that encourages & welcomes a multi-cultural community & workforce.

25 — 25 — © 2013 ViTAL Economy, Inc. Job Creation has been stagnant since early 1990s Source: BEA, US Census Components of Windham County Employment Change, Total Employment18,14423,25628,95133,306 33,47433,337 Wage and Salary Jobs15,87618,92923,31625,89024,04024,036 Number of Proprietors2,2684,327 5,6357,4169,4349,301 Percent of Total Wage and Salary Jobs 87.5%81.4%80.5%77.7%71.8%72.1% Number of Proprietors 12.5%18.6%19.5%22.3%28.2%27.9% Between 1995 to 2011 wage and salary employment has been stagnant, after increasing during the twenty years from 1970 to Self-employment has shown steady increases over the last forty years.

26 — 26 — © 2013 ViTAL Economy, Inc. Real Dollars 2010 = Real Average Earnings Per Job$ 36,682$ 31,084$ 35,481$ 38,386$ 37,061$ 36,657 Real Per Capital Income$ 20,755$ 23,822$ 30,286$ 36,543$ 39,475$ 39,232 From 1970 to 2011, Average Earning per Job fell from $36,682 to $36,657, in real terms, a drop of $25 From 1970 to 2011, Per Capita Income grew from $20,755 to $39,232, in real terms, an 89% increase Non-Labor related income is driving Real Per Capita Income growth

27 — 27 — © 2013 ViTAL Economy, Inc. Sources of Personal Income (2011) US 2011 VT 2011 Windham 2011 Windham County still lags behind the US and Vermont in percentage of Private Sector Earned Income. Significantly higher proportion of income from Transfer Payments Significantly higher share of income received from Dividends, Interest & Rents 1.1% Improvement since 2009 Div. Int. & Rent declined by 1.5% since 2009 Div. Int. & Rent declined by 1.5% since 2009 Source: BEA 2009 & VE Analysis Transfer payments rose by.4 % from 2009

28 — 28 — © 2013 ViTAL Economy, Inc. GDP Under-performance is impacted by five key factors: 1.Demographics 2.Declining Jobs 3.Lack of Immigration 4.Educational Attainment 5.Middle-Skill Workforce Declining prime worker cohort in the age group is directly related to declining jobs. This is further exacerbated by lack of immigration. Educational Attainment and Workforce disconnects reduces the ability of the region to supply high-GDP growth, high demand middle-skill jobs. Vermont Economic Performance Lags New England and US Source: US BEA. usgovernmernrevenue.com. VE Analysis Recent improvements in GDP still leave VT lagging Recent improvements in GDP still leave VT lagging High and Rising Prosperity vs US US Real GDP Growth Rate 2.4% Per Capita US GDP $49,670 Vermont GDP 2011 Actual Per Capita GDP $46,167 = 32 nd out of 51 GDP Growth Rate 0.5% = 39th out of Estimated Per Capita GDP $44,833 = 33 rd out of 51 GDP Growth Rate 2.2% = 36 th out of Estimated Per Capita GDP $50,000 = 39 th out of 51 GDP Growth Rate 3.9% = 43 rd out of 51

29 — 29 — © 2013 ViTAL Economy, Inc. Concentration, Growth and Employment by Economic Sector + + ConcentratIonConcentratIon Compound Annual Growth Educational Services, Private- 1,563 Utilities Information Retail Trade, Staples – 1,939 Wholesale Trade -1,104 Healthcare Social Services–2,816 Accommodations & Food Service – 2,648 Metals Manufacture - 1,099 Highlighted industry sectors are the most significant in economic impact in Windham County as of Fall 2010 Windham County Sector Location Quotient and Growth Rates

30 — 30 — © 2013 ViTAL Economy, Inc. Source: US EDA Innovation Index, Innovation in America Region, SeVEDS Innovation Climate lags Surrounding Regions & U.S. Innovation Index components: 1.Human Dynamics 30% 2.Economic Dynamics 30% 3.Productivity & Employment 30% 4.Economic Well-Being 10% Innovation Index demonstrates the need for SeVEDS to develop an effective innovation environment and strategy. This requires that SeVEDS capitalize on its indigenous assets, reverse demographic trends, develop the proper mix of workforce skills, and invest in an innovation ecosystem % 87.9% 84% 100% 103.6% 83% 87.9% 84% 116.9%

31 — 31 — © 2013 ViTAL Economy, Inc. Economic Performance Comparisons – Windham County vs US Relative Performance, 2010Windham US Trends Population (% change )0.9%9.6% Employment (% change )0.5%5.1% Personal income (% change )9.0%14.0% Average Earning per Job (% change )-3.50%2.3% Per Capita Income (% change )8.0%4% Prosperity Average Earnings Per Job$38,231$53,347 Per Capita Income (% change )$40,722$41,197 Average Annual Wages - Service Related$37,176$46,145 Average Annual Wages - Non-Service Related$45,592$56,169 Average Annual Wages - Government Related$37,256$49,691 Stress Unemployment Rate (Change )3.0%4.9% Unemployment Rated5.70%8.9% Structure Percent of Sole-Proprietor Employment28.20%21.7% Percent of Personal Income from Non-Earned Sources43.30%35.2% Percent of Service Related Jobs69.90%70.9% Percent of Non-Service Related Jobs15.30%14.9% Percent of Government Jobs9.90%14.2% Ratio of Windham to United States Regional Performance Metric is Better than U.S. Regional Performance Metric Lags U.S. Sources BEA (CA05N, CA30 CA91) BLS-QCEW

32 — 32 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions. Your ideas or questions…. Q.We have some of most sustainable businesses – do we really want to attract information technology companies that have high turnover. A.Mark Madsen – When we speak of technology driven firms, that is not just information technology companies. You already have several companies in the region that are high tech, high value companies – technology drive precision manufacturers Audience Comment.Most Analysts don’t understand Windham county – Vermont is ahead because we are behind – great asset is that we can produce quality of life with less income Q.Why can’t Demographers accurately forecast population trends for the region? A.The region attract people who want to enjoy a certain lifestyle and are financially able to live here Audience Comment: not everything can be measured in dollars and cents – happiness metric – some non- monetary metrics Q:Birth rates/death rates declining population, school enrollment – are the people that are leaving educated? What are the implication of demographics changes– growth in year olds. A.If you are an employer and 50% of employers are over a certain age, you are wondering how am I going to replace those retirees – where is that future workforce going to come from. Audience Reply I get it – Marlboro College graduate center serves a demographic that is coming back for retraining at age 45.

33 — 33 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

34 — 34 — © 2013 ViTAL Economy, Inc. SeVEDS Economic Issues & Implications as Defined by SeVEDS in 2010 Economic IssueImplication Low Average Wage Limits the ability to attract and retain mid and high level skilled workers. Low Earned Income as a Proportion of Personal Income Reduces support for a climate of innovation and risk taking central to economic growth Income producing activity declines and so will regional rate of GDP growth Decreasing % of Population Reduced vibrancy of the community from young personalities and activities Lower education system enrollments Reduced family spending on domestic and basic products and services Businesses cannot grow or will be forced to leave the region due to lack of workforce. Weak Entrepreneurial Climate Limits the attraction of risk based business capital Reduced attractiveness to young bright highly educated demographic Lack of Cell and Broadband Service 21st Century “on the go” wireless connected business & workers cannot be served Regions develops a reputation as not enabling or meeting citizens expectations Work and workers serving a 24/7 connected economy will not find region attractive Weak Local Economy & Local Market Limits the attraction of new capital and investment Not attractive to new business and services, few ROI opportunities

35 — 35 — © 2013 ViTAL Economy, Inc. Opportunities and Challenges Defined by SeVEDS in 2010 OPPORTUNITIES: 1. Vermont Brand 2.Location 3.Imminent Technology infrastructure 4.Manufacturing base 5.Educational institutions 6.Recreation 7.Cultural and Arts 8. Tourists, second home owners bringing dollars into region 9.Key tourism infrastructure 10.Access to government 11.Healthcare Infrastructure 12.Healthy and health-focused population CHALLENGES: 1.Lack of Cell Service and Broadband 2.Weak local market/economy 3.Declining workforce population 4.Taxes 5.Declining earned income 6.Finding employment – not enough jobs 7.Lack of investment capital 8.Disconnect between education and jobs 9.Capacity -- Lack of critical mass 10.Declining student enrollment 11.Qualified Workforce recruitment 12.Redevelopment capability and capacity 13.Stagnant Real Estate Market 14.Lack of Innovation and true Entrepreneurship Source: SeVEDS Foundation Milestone Meeting Output from Community Leaders

36 — 36 — © 2013 ViTAL Economy, Inc. Assets and Gaps as Defined by SeVEDS in 2010 Economic & Community Assets Precision Technology Driven Manufacturing Logistics Global presence Second Homeowners Natural Environment for Skiing and Outdoor Recreation Concentration of Health and Mental Health Care Facilities Capacity Gaps Incubators Redevelopment System Workforce Development Broadband/Telecom Rail Post VY Planning Source: SeVEDS Asset Mapping Meetings conducted throughout the region

37 — 37 — © 2013 ViTAL Economy, Inc. Vermont Industry Markets Source: Vermont Competitiveness: State and Cluster Economic Performance, Porter, Michael E., Harvard Business School, paper presented at National Governors Association Winter Meeting, February 26, 2011 SeVEDS Niche Market Sectors (See Next Page) ♠ ♣ ♥ ♦ ◘ ◊ ♠ ♠ ♠ ♠ ♣ ♣ ♣ ♦ ◘ ♦ ◊ ◊ ♥ ♣ ♠ ♠ ♠ ♠

38 — 38 — © 2013 ViTAL Economy, Inc. SeVEDS Industry Clusters Opportunities as Defined by SeVEDS in 2010 Based on Asset Mapping, Industry Interviews, and VE Research, the following Sectors appear to present significant opportunities for SE Vermont: SE Vermont Economic Sectors Technology Driven Precision Manufacturing Business & Technology Services High Quality Post-Secondary Education Logistics & Distribution Hospitality, Retail & Tourism Healthcare - Optics - Medical Devices - Aerospace - International Business & Culture Center of Excellence - Nursing & Medical Admin. Support - Shared Services Center - Software & IT Services - Environmental Services - Assembly & Distribution Medical Devices - NNE Hub - Passenger Rail Gateway - Winter Sports - Fall Foliage - Arts & Cultural - Vibrant Downtown Retail - Mental Healthcare - Regional Health Services Niche Markets Source: VE and SeVEDS Asset Mapping and Cluster Analysis ◊ ♠ ♣ ◘ ♥ ♦

39 — 39 — © 2013 ViTAL Economy, Inc. Macro Economic Trends SeVEDS Region Should Consider 1.Demographics – Immigration filled 90% of the job growth over the last 15 years 2.Workforce – % of jobs will require beyond high school education 3.Quality of Place – knowledge workers have a choice, 1 st where to live, 2 nd where to work, key to attracting and retaining young worker families 4.On Shoring & Near Shoring – 5M new jobs by Exports – Manufacturing exports to grow 2%-7% to Europe & Japan 6.US Manufacturing Growth – Driven by low cost energy, rising global wage rates and a reduced risk profile 7.Food Security – growing local food trends, agriculture science, healthy choices 8.Healthcare – healthy communities, extension and improved quality of life through health sciences, convergence of product innovation and system design

40 — 40 — © 2013 ViTAL Economy, Inc. Analysis Trend data shows that the SeVEDS region has been declining as an employment hub over the past ten years. This is evidenced by the absolute decline in number of jobs in the region as well as the quality of the employment regardless of age cohort. Additional data for the labor shed that serves the SeVEDS region demonstrates that median earnings for those living outside Windham County are far more favorable than for those living in Windham County, whether in Massachusetts or New Hampshire counties. The perception of overall high educational attainment across a broad spectrum of the local populous in the region is not borne out by the data. In fact, the region is producing a much higher percentage of under-educated younger workers than Vermont or the surrounding regions under age 45. This flies in the face of increasing trends for workers with high demand skills across almost all industry sectors. The preponderance of an undereducated working age population and the inability of the region to meet workforce demand for high demand middle skill sets results in a staggering decline in the age group, which are the primary birthing and family rearing years. This reality calls for a real focus on increasing educational attainment in the region.

41 — 41 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions…. Q.What percentage of Vermont Yankee jobs are held by Windham county residents? A.About 30% Audience Comment:All of assets and quality of life pieces – seems like opportunity to address energy cost and food costs – local food systems – successes with manufacturers -rail program Audience Comment:We have great cultural vitality in region – vast range need to be added – Audience Comment:Building on leverageable – The arts and local agriculture are leverageable. Audience Comment:Considerations on dollars lost and jobs lost towards Keene Q.Can you comment on quality of place and how different demographic s perceive it? A.Jeff Lewis tells the quality of place story from SeVEDS informal survey in Perception was surprising discovered to be relative to age and stage of life. Older generation perceived the amenities for entertainment as very good in SE Vermont, while younger generation found amenities severely lacking. Audience Comment:Business leader spoke about quality of life, young professional, and the workforce challenges her business – (Chroma) Audience Comment:Need to make sure that the needs and interest of underemployed or families in poverty are being heard in the CEDS process.

42 — 42 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda Break

43 — 43 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

44 — 44 — © 2013 ViTAL Economy, Inc. P→C Builds ROI Rationale for Regional Collaboration Move Up the Value Chain, Capture Greater Share of Value Chain Margins, Increase Economic Prosperity P C C P P=Producer & C=Customer Friction is the cost of getting from P to C

45 — 45 — © 2013 ViTAL Economy, Inc. Investment Attraction Keeps Filling The Pool (Economy) with More Water (Capital) $$$ IMPORT ACTIVITIES bring in goods and services to serve the needs and desires of the community; but capital flows out EXPORT ACTIVITIES* bring money into the region by selling goods and/or services of value and importance to national or international markets CONSUMER SERVICES SECTOR activities that directly and indirectly address the consumption demands of the local residents SE Vermont Economy *the only source of new capital that the region can use to pay for goods and services to meet its needs and desires $$$ Regional Economic Swimming Pool

46 — 46 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions….

47 — 47 — © 2013 ViTAL Economy, Inc. The changing global economy has radically altered the ways that cities and regions establish and maintain their competitive edge. Knowledge has largely replaced natural resource exploitation and the drudgery of oppressive physical labor as the source of wealth creation and economic growth. In this new era, a region’s ability to attract and retain a balanced mix of skills and talents needed for growth has become the key factor in its economic success. But attracting and retaining this talent has proven to be something of a challenge. Conventional wisdom argues that if the jobs are available, the workers will follow, but the economy today doesn’t quite follow these rules. Because the demand for talented people outstrips supply, these skilled workers can essentially choose where to live and work. When it comes to choosing where to locate, knowledge workers have definite shopping lists, and regions that seek to attract them do well to know what they want. Role of Quality of Place in a 21 st Century Economy

48 — 48 — © 2013 ViTAL Economy, Inc. Quality of Place Strategies Prioritize Regional Assets Views a community or region as a place with assets versus deficits, which can be preserved, enhanced and leveraged to achieve improved community and economic development outcomes. Recognizes that needs must be addressed, but focuses on indigenous community assets as a foundation for future growth Human Capital: Workforce, knowledge and skill assets, work ethic Social Capital: building trust, ability to work, plan and act as a group Physical Capital: housing, transportation, town centers, infrastructure Financial Capital: life cycle equity and debt financing resources Environmental Capital: land, natural resources, scenic beauty, recreation Cultural Capital: heritage, architecture, arts and culture, performing arts Healthy Community Capital: Education, Healthcare, Social Services, Public Safety Builds on these assets to create a better place to live work and play Connects these assets to regional, national and global economic opportunity

49 — 49 — © 2013 ViTAL Economy, Inc. Quality of Place Connects KBE Assets for a More Effective CEDS Knowledge Based Economy (KBE) versus traditional industrial economy jobs are the economic growth direction of the 21st century economy In the traditional economy, workers moved to be near jobs. Today, companies increasingly look to move to where knowledge workers live KBE workers are in greater demand and have the choice of being more particular about whom they work for and where they live They often choose to live in places that provide their families a high quality of life. To some extent the job has become secondary to lifestyle amenities available in the community KBE workers choose Quality of Place strategies deliver livable communities where community and economic development assets are equal partners for growth

50 — 50 — © 2013 ViTAL Economy, Inc. Livable Communities Are Key to a Quality of Place Based CEDS Livable communities all across America are increasingly popular places in which to live, work, vacation and retire. In the 1990s, 2 million more Americans moved from metropolitan centers to rural areas than migrated the other way. Communities with natural beauty and a high quality of life are magnets for businesses, working families and retirees. The vast majority of residents, new and old, feel a strong attachment to the landscape and the character of their town. They want a healthy economy, but not at the expense of their natural surroundings or community character. Elected officials and residents want to find ways to preserve what they love about their communities without saying no to jobs and economic development. Across America, there are communities that have found that economic prosperity does not demand degraded surroundings, loss of community character or becoming a congested tourist trap. Successful communities are finding that the opposite is true: that beauty pays, that sustainable tourism provides more benefits than mass-market tourism, that retaining community character is a key to economic success, that thoughtful management of public resources and well-planned development can help prosperity occur. Source: National Geographic Center for Sustainable Destinations, Urban Land Institute and The Conservation Fund Survey

51 — 51 — © 2013 ViTAL Economy, Inc. Source: Growing Vermont’s Next Generation Workforce, (April 2007), Next Generation Consulting Quality of Life – Perceptions versus Reality The Growing Vermont’s Next Generation Workforce report clearly demonstrates that there is a disconnect between the perception of Vermont Quality of Place values and peoples actions SeVEDS should develop Quality of Life goals based on NGC “Values vs. Perception” indicators. This Dissonance is Significant

52 — 52 — © 2013 ViTAL Economy, Inc. Balance: Knowledge workers are highly mobile and essentially balance economic opportunity and lifestyle in selecting cities and regions that are attractive to them as places to live and work. Thus, challenging, high-paying, high tech jobs, while obviously necessary, are alone not enough to attract the best and the brightest. Labor Market: Knowledge workers are highly mobile and anticipate moving among various employers and thus favor cities and regions with a “thick labor market” that offers the wide variety of employment opportunities required to sustain a career in high technology fields. Amenities: Variety and accessibility of natural, recreational, and lifestyle amenities – is vital in attracting talent and thus in supporting a broad range of leading-edge high technology firms and industries. A Blend of Work and Leisure: Knowledge workers seek environments that allow them to blend rather than separate their work and leisure. Due to the long work hours, fast-pace, and tight deadlines associated with work in high technology industries, they desire amenities that blend seamlessly with work and can be accessed quickly on a “just-in-time” basis when free time becomes available. A Sense of Place: Knowledge workers increasingly prefer urban to suburban neighborhoods and seem particularly drawn to areas that feature interesting older structures, a range of public spaces, a blend of personal and commercial space, and the bustle and buzz of varied activity including work, shopping, and entertainment. They prefer the kind of authenticity and realness found in older cities and neighborhoods to the generic office complex and strip mall environment found of the “techno-burbs.” Elements of Quality of Place

53 — 53 — © 2013 ViTAL Economy, Inc. Active Lifestyle: Knowledge workers prefer “doing” to “watching.” They prefer to participate rather than watch sports and favor a diverse range of intense outdoor activities (rowing, sailing, cycling, rock climbing). Easy access to water and water-based recreation is particularly important. Alternative Arts and Culture: Defying traditional assumptions about what makes a region attractive, knowledge workers are less concerned with “big ticket” amenities such “high-brow” arts and culture or professional sports. Instead, they prefer a number of smaller, accessible, “street-level” opportunities to dine, dance, engage in active recreation, and soak up the local music scene. The Environment: Environment – particularly air and water quality – matters. The new economy dramatically transforms the role of the environment and natural resources. Creativity and Innovation: Diversity is not simply an individual preference related to personal lifestyle but a basic precondition for the creativity and innovation needed to build and sustain a successful high tech region. Creativity and innovation are the key success factors of the new economy, and new ideas thrive in diverse environments. In other words, being competitive requires innovation, and innovation in turn requires diversity. Educational Opportunities: The 21 st Century economy is based on knowledge. Without local high quality educational opportunities, innovative and creative talent leaves a region, employer face higher training costs and employment opportunities dwindle. Elements of Quality of Place (Cont)

54 — 54 — © 2013 ViTAL Economy, Inc. SE Vermont Perceptions of Quality of Place Assets Balance: Labor Market: Amenities: A Blend of Work and Leisure: A Sense of Place: Active Lifestyle: Alternative Arts and Culture: The Environment: Creativity and Innovation: Educational Opportunities: Overall Quality of Place Index = 71 out of 100

55 — 55 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions…. Q.How many people under 30 in audience – (There were 2 people under 30) The survey results seem skewed survey because of who is in this room. Audience Comment:I would never have moved here at 25 – that is where our company get younger professionals Q.How many people in this room have an advanced degree (2/3 raised hands) – That isn’t representative of population in the larger region – if you aren’t reaching those folks Educator Comment: came here from North Carolina – infrastructure of SE Vermont you don’t realize that small class sizes and quality of ED small class sizes is underutilized in being leveraged for economy Educator Comment:Education touches all of these pieces – conversations happen in isolation Young Professional Comment:I’m in my 30’s and came to SE Vermont because it is home and I found a good job – I can’t give you a reason why I’m here – which is why I keep working on SeVEDS Q.What are we doing with the Q of P index info? A.We it’s a measurement at point of time. We use your input to identify areas that need improvement and areas that are regional strengths.

56 — 56 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

57 — 57 — © 2013 ViTAL Economy, Inc. SE Vermont Strategic Location SeVEDS is at the center of major NNE and Canadian Population Centers. The existing affinity for the region presents opportunities for economic growth, that should be leveraged beyond tourism & second home ownership.

58 — 58 — © 2013 ViTAL Economy, Inc. Negative Net Cross-County Commuting Flows Inflow of Earning comes from people who work outside the county but bring money home. Outflow of Earnings are the gross earnings of people who work in the county but reside elsewhere. Negative Residential Adjustment indicates a net outflow of approximately 5.1 % of total regional earnings. The region is a Net Importer of Labor with surrounding counties contributing 9.8% of total workforce Windham Cross-County Earnings millions of $ Cross-County Commuting Flows Total Personal Income$1,811,582 Inflow of Earnings202,223 Outflow of Earnings294,525 Net Residential Adustment (inflow-Outflow-92,302 Percent of Total Net Residential Share of Toal Personal Income-5.1% CountShare Employed in Windham County 21,933 Employed in Windham County but Living Outside8, % Employed and Living in Windham County13, % Living in Windham County 19,793 Living in Windham County but Employed Outside6, % Living and Employed Windham County13, % Net Labor Inflow2,140 Percent of Total 9.8%

59 — 59 — © 2013 ViTAL Economy, Inc. SE Vermont Labor Shed The economy of SE Vermont must be viewed in the context of the broader functional Labor Shed. This labor shed transcends State, County, BDCC, WRPC and other planning boundaries. So the question becomes – How will the SeVEDS region interact with the broader region to share assets and collaborate to discover new opportunities and increase the economic vitality and resiliency of the region? Source: WRPC Regional Profile

60 — 60 — © 2013 ViTAL Economy, Inc. Source: US Census Bureau Median Earnings by Educational Attainment Median Earnings by Educational Attainment shows the dramatic impact of job loss on wages in SeVEDS. College grads earn 18% more in Cheshire County, NH and 23% more in Hampshire County, MA.

61 — 61 — © 2013 ViTAL Economy, Inc. Average Wage Comparisons (2011) Wages and Salaries are a function of skills, productivity, and supply/demand forces as well as the structural make-up of the regional economy. SE Vermont average wage comparison with neighboring States reveals that the region is at a significant disadvantage in attracting and retaining a skilled workforce due its lower average wage. Source: BLS, QCEW 02/2013 WindhamVTMEMANHUS Average Annual Wage $ 37,880 $ 40,293 $ 38,020 $ 59,671 $ 47,281 $ 48,043 % of Windham County106%100%158%125%127%

62 — 62 — © 2013 ViTAL Economy, Inc. Windham County’s neighbors to the South are embarking on a 21 st Century regional economic development strategy leveraging education and natural assets. The regional strategy has already solidified a solid and authentic “brand” identity due to its assets. Led by Pioneer Valley Planning Commission & Capital Region Council of Governments New England’s 2 nd largest population 43 Cities and 2 counties One of the highest concentrations of higher education in the US, 32 higher education institutions including elite Universities, MIT, Harvard, UMass, Amherst Focus includes; Rail infrastructure Quality of Place projects Super high performance computing center. New England’s Next Generation “Knowledge Corridor” Political boarders are not barriers in a VE Journey Regional Asset That Could Be Leveraged – The NE Next Generation Knowledge Corridor

63 — 63 — © 2013 ViTAL Economy, Inc. Vermont Industry Markets Source: Vermont Competitiveness: State and Cluster Economic Performance, Porter, Michael E., Harvard Business School, paper presented at National Governors Association Winter Meeting, February 26, 2011 SeVEDS Niche Market Sectors (See Next Page) ♠ ♣ ♥ ♦ ◘ ◊ ♠ ♠ ♠ ♠ ♣ ♣ ♣ ♦ ◘ ♦ ◊ ◊ ♥ ♣ ♠ ♠ ♠ ♠

64 — 64 — © 2013 ViTAL Economy, Inc. Balanced S.M.A.R.T. CEDS Approach Inform Goals Strategy Action CEDS Planning Business Retention & Expansion Business Recruitment Business Incubation Leadership Training CEDS Planning Business Retention & Expansion Business Recruitment Business Incubation Leadership Training Strategic Components Industry Sectors Logistics & Distribution Healthcare Hospitality, Retail & Tourism Business & IT Services Technology Driven Precision Manufacturing High Quality Post Secondary Education SeVEDS Five Year Regional Goals SeVEDS Five Year Regional Goals Ratio of Net Earned income To Total Income ↑.566 to.65 Increase Median Annual Income AS/some College to $32,000/yr. Increase Median Annual Income Bachelors Degree to $39,000/yr. Increase age Employment 20% Increase AS/Tech Certs. For age From 38% to 47% Increase Pop of age by 20% Ratio of Net Earned income To Total Income ↑.566 to.65 Increase Median Annual Income AS/some College to $32,000/yr. Increase Median Annual Income Bachelors Degree to $39,000/yr. Increase age Employment 20% Increase AS/Tech Certs. For age From 38% to 47% Increase Pop of age by 20%

65 — 65 — © 2013 ViTAL Economy, Inc. SeVEDS 2017 Objectives (Goals) 1.Create Operational and Fiscal Sustainability Plan for SeVEDS by December Improve Wage Parity with Surrounding Labor-shed 3.Increase the Size and Quality of the Workforce 4.Increase population proportion of year olds from 23% to 28% of total population by Create an Entrepreneurial Environment

66 — 66 — © 2013 ViTAL Economy, Inc. Base SeVEDS Region MetricsBaseline*2017 Goal%ChangeTotal Change Population42,605 0%- Employable Population (16 and older)35,520*36, %+651 Labor Participation Rate65%*68.8%+5.8%- Total Employed23,089*24, %+1,805 Average Wage$38,820$39, %+$1,028/yr Total Region Wages$896M$992M+10.7%$96M Regional GDP$2.37B$2.8B+18.1%$430M Regional Strategic MetricsBaseline2017 GoalChange Ratio Net Earned Income/Total Income %- Increase Median Annual Income for Associates/Some College workforce $26,855$32, % +$5.145/yr ($2.47/hr) Increase Median Annual Income for Bachelors Degree workforce $32,518$39, % +$6,482/yr ($3.12/hr) Increase employment by 20% in five years (2009 data) 10,69112,82920%+2,138 Increase Associates Degrees/Some College and Technical Certificates among age bracket 38% (1,495) 47% (1,884) +23.6%+389 Increase the age population by 20% in five years 9,53311,43920%+1,906 Projected SeVEDS Region 2017 Goals and Outcomes as of 2010 * Base Line data is as of Spring 2010 Note: Baseline and Goals based on 2009 U.S. BEA Data & Estimates

67 — 67 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions….

68 — 68 — © 2013 ViTAL Economy, Inc. Kick-Off Agenda 8:30 AM – Meet and Greet 8:50 AM – Welcome & Introductions 9:00 AM – Why We Create A Community Economic Development Strategy 9:15 AM – Regional Profile Summary and Key Implications for the Future 9:40 AM – Exploration & Discussion of Issues of Challenge and Opportunity 10:10 AM – Break 10:25 AM – What Does Quality of Place Mean in the Context of a Healthy SeVEDS Economy? 10:50 AM – What Role Does S.E. Vermont Play in The Broader Region? 11:10 AM – Going Forward - CEDS over the Next Nine Months Why your involvement and that of others is important March - Regional community input meetings and focus group interviews May - Regional feedback meetings and potential 2nd round focus group interviews June-August - Connect Milestone Analysis and CEDS report preparation September - Celebration of CEDS at Town Hall Meeting September-October - CEDS Public Comment Period November - Submit final CEDS to EDA 11:30 AM – Adjourn

69 — 69 — © 2013 ViTAL Economy, Inc. Kickoff CEDS Committee Training Existing Research Sense of Urgency Issues of Challenge & Opportunity Economic Benchmarking & S.M.A.R.T. Goal Setting Community Engagement Plan CEDS Objectives CED Readiness Assessment Kickoff CEDS Committee Training Existing Research Sense of Urgency Issues of Challenge & Opportunity Economic Benchmarking & S.M.A.R.T. Goal Setting Community Engagement Plan CEDS Objectives CED Readiness Assessment Discovery Four (4) Open Public Input Events (March) Four (4) Community Report Back Events (May) Focus Interviews Media Campaign Begin Analysis of community input Discovery Four (4) Open Public Input Events (March) Four (4) Community Report Back Events (May) Focus Interviews Media Campaign Begin Analysis of community input Connect Analyze Community Input Prioritize Strategies Identify & Prioritize Targeted Industry Clusters Prioritize Critical capital project Identify partners Develop Implementation Plan Connect Analyze Community Input Prioritize Strategies Identify & Prioritize Targeted Industry Clusters Prioritize Critical capital project Identify partners Develop Implementation Plan S.M.A.R.T. CEDS Four Milestone Process and Schedule Report Prepare /Review Draft CEDS Town Hall Meeting to open 30-day public comment period Finalize CEDS Adopt CEDS Submit CEDS to EDA Report Prepare /Review Draft CEDS Town Hall Meeting to open 30-day public comment period Finalize CEDS Adopt CEDS Submit CEDS to EDA JanFebMarchAprilMayJuneJulyAugSeptOct Town Hall Meeting CEDS Kick-off Event To Do #3: Set Bi-Weekly SeVEDS Staff / VE Conference Call Schedule

70 — 70 — © 2013 ViTAL Economy, Inc. SeVEDS Community Engagement Meetings Round 1 Public Engagement Events – Week of March  VE in Region 3 Days  Four large open public meetings to collect public input  Dates?  Locations?  Invitees?  Focused business, academic, workforce development, non-profit sector Individual and group interviews (Round One)  Dates?  Who?  Locations? Round 2 Public Engagement Events – Week of May  VE in Region 3 Days  Four large open public meetings to report back community input  Dates?  Locations?  Focused business, academic, workforce development, non-profit sector Individual and group interviews (Round Two as needed)  Dates?  Who?  Locations? Planning for these events to take place with SeVEDS Staff and VE following Kickoff Event in February

71 — 71 — © 2013 ViTAL Economy, Inc. Report Phase Early preliminary draft for CEDS committee review/comment –To SeVEDS First Week of August –Review Second Week of August and back to VE Late preliminary draft for CEDS review/comment –Joint VE/SeVEDS review First Week of September Town Hall Meeting presentation open public comment period –September 16 - Publication ready version to SeVEDS –September 19 - Town Hall Meeting and open public comment period Final CEDS Document Revision and Delivery Adopting Body(ies) Action Submittal to EDA

72 — 72 — © 2013 ViTAL Economy, Inc. Your thoughts or Questions Your ideas or questions…. Comments: Healthy communities March meeting dates need to be checked for conflicts Need to reach out to families in poverty As one of the only people under 30 in room – you’ve got to reach way out to connect with people under 30. There is a diverse group of youth in the region

73 — 73 — © 2013 ViTAL Economy, Inc. Thank You! Q & A

74 — 74 — © 2013 ViTAL Economy, Inc. Community Economic Development Kick-off February 15, 2013 Frank Knott – Mark Madsen – Jim Haguewood –

75 — 75 — © 2013 ViTAL Economy, Inc. Background

76 — 76 — © 2013 ViTAL Economy, Inc. Balanced S.M.A.R.T. CEDS Approach Inform Goals Strategy Action CEDS Planning Business Retention & Expansion Business Recruitment Business Incubation Leadership Training CEDS Planning Business Retention & Expansion Business Recruitment Business Incubation Leadership Training Strategic Components Industry Sectors Logistics & Distribution Healthcare Hospitality, Retail & Tourism Business & IT Services Technology Driven Precision Manufacturing High Quality Post Secondary Education SeVEDS Five Year Regional Goals SeVEDS Five Year Regional Goals Ratio of Net Earned income To Total Income ↑.566 to.65 Increase Median Annual Income AS/some College to $32,000/yr. Increase Median Annual Income Bachelors Degree to $39,000/yr. Increase age Employment 20% Increase AS/Tech Certs. For age From 38% to 47% Increase Pop of age by 20% Ratio of Net Earned income To Total Income ↑.566 to.65 Increase Median Annual Income AS/some College to $32,000/yr. Increase Median Annual Income Bachelors Degree to $39,000/yr. Increase age Employment 20% Increase AS/Tech Certs. For age From 38% to 47% Increase Pop of age by 20%

77 — 77 — © 2013 ViTAL Economy, Inc. P→C Builds ROI Rationale for Regional Collaboration Move Up the Value Chain, Capture Greater Share of Value Chain Margins, Increase Economic Prosperity P C C P P=Producer & C=Customer Friction is the cost of getting from P to C

78 — 78 — © 2013 ViTAL Economy, Inc. Investment Attraction Keeps Filling The Pool (Economy) with More Water (Capital) $$$ IMPORT ACTIVITIES bring in goods and services to serve the needs and desires of the community; but capital flows out EXPORT ACTIVITIES* bring money into the region by selling goods and/or services of value and importance to national or international markets CONSUMER SERVICES SECTOR activities that directly and indirectly address the consumption demands of the local residents SE Vermont Economy *the only source of new capital that the region can use to pay for goods and services to meet its needs and desires $$$ Regional Economic Swimming Pool

79 — 79 — © 2013 ViTAL Economy, Inc. 3 Keys to Economic Transformation Collaboration Builds Sufficient Critical Mass to Compete Globally, while Emerging Cluster Strategies Assure Regional growth + Connectivity Links Geographically Remote Resources to Increase Access, while Creating Opportunity, Building Diversification, Enabling Collaboration + Changed Spending Increases Productivity and Revenues Opens New Markets, Expands Opportunity, Establishes Measurable Benchmarks and Goals

80 — 80 — © 2013 ViTAL Economy, Inc. 1. Create a Sense of Shared Need & Urgency 2. Create the Vision & Build the Guiding Team 3. Define the Change Impacts 4. Communicate for Buy-in 5. Empower Others to Act 6. Create Short-term Wins 7. Sustain the Change 8. Make it Stick Based on Kotter, John P. Leading Change. Boston: Harvard Business School Press Engaging & Enabling the Whole Community Implementing & Sustaining Transformation Creating a Climate for Change Eight Steps for Leading Change

81 — 81 — © 2013 ViTAL Economy, Inc. Significant changes in economic structure Increased government intervention and control in private sector (Banking, Insurance, Auto industries) Banking failures, & auto industry restructuring Instability and volatility in financial markets world-wide Awareness and focus on local and global environmental issues Natural resources and environment formerly regarded as exploitable resources and receptors of production stream waste residue respectively. Now the same resources are recognized as important resources to be wisely used and held in stewardship for future generations. Increased consciousness of transportation costs and environmental impacts shipping goods long distances. There is significant interest and investment in “Clean Technologies. Prevailing high unemployment “Jobless Recovery” is prevailing outlook for Consumer confidence and spending is still Flat Cautious business spending patterns Key Issues Facing U.S. Economy

82 — 82 — © 2013 ViTAL Economy, Inc. Vision → Objectives → Goals → Assets → Strategies → Actions Objectives & Goal Metrics: Increase the Average Wage and proportion of personal income from earned income ↑ Ratio Net Earned Income / Total Income from.566 to.65 Improve Wage Parity with surrounding counties (the labor shed) ↑ Increase Median Annual Income for Associates/Some College to $32,000 ↑ Increase Median Annual Income for Bachelors Degree to $39,000 Increase the size and quality of the workforce ↑ Increase employment by 20% in five years ↑ Increase Associate Degrees/Some College and Technical Certificates among year old age bracket from 38% to 47% Increase population proportion of year olds ↑ Increase the absolute number of people in age bracket by 20% in five years Create an entrepreneurial environment Define and implement an Innovation Ecosystem within 3 years

83 — 83 — © 2013 ViTAL Economy, Inc. Limited License: Subject to these Terms of Use, we grant to the local sponsor and its funding partners for this presentation a non-exclusive, non-transferable, limited license to access and use the information, text, graphics, data, and other content in this report for their personal and noncommercial use. You may also incorporate portions of the content of this report in documents and other works of authorship that are mainly the product of your own intellectual effort, and may distribute and disseminate those documents and other works, but only if neither you nor anyone else receives any payment or other value that is primarily attributable to the content used. Proprietary Rights: You acknowledge that the content of this report is the property of ViTAL Economy, Inc. and is protected by copyright, trademark and other intellectual property laws. You agree not to use this content for any unlawful or unauthorized purpose, or in any manner that would harm the reputation of ViTAL Economy, Inc. or its partners. You agree not to use any name, emblem, logo, or trademark of ViTAL Economy, Inc. in any manner, except in the form of attribution and copyright notice required by these Terms of Use. Copyright Notice: On any print-out, download, or copy of this content you make that does not already include a copyright notice, you agree to include a copyright notice as follows: "Copyright © 2013, ViTAL Economy, Inc. All rights reserved.”


Download ppt "— 1 — © 2013 ViTAL Economy, Inc. Community Economic Development Kick-off February 15, 2013 Frank Knott – Mark Madsen –"

Similar presentations


Ads by Google