Presentation on theme: "Shared Prosperity Workgroup Kickoff Meeting February 5, 2014 1:30 – 3:00PM McKnight Foundation 1Shared Prosperity Work Group."— Presentation transcript:
Shared Prosperity Workgroup Kickoff Meeting February 5, :30 – 3:00PM McKnight Foundation 1Shared Prosperity Work Group
Our Vision: Growing a prosperous, equitable, and sustainable region Our Goals: To enhance the region’s economic competitiveness we will: 1)Improve the economic prospects of low-income people and low-wealth communities 2)Promote high quality development near existing assets (e.g. employment centers, transitways, and commercial and industrial corridors) 3)Advance a 21 st century transportation system Background Approved 11/20/20132 PRO has three workgroups Shared Prosperity Regional Equity & Community Engagement Transit Oriented Development Scope of work has 1-year time horizon.
Workgroup Objectives Accomplish 2-3 things that advance more socially equitable & environmentally sustainable economic development Enhance on-going work elsewhere in the region Deliver outcomes that are both tactical & immediate AND set the stage for longer-term change and action. Shared Prosperity Work Group3
Workgroup Roles Project development – Shape, advise, review, represent Bring organizational expertise Forge connections – Build partnerships to other tables Others? Shared Prosperity Work Group4
WorkGroup Meetings Meeting Objectives: 1)Project work & updates 2)Deep dives into specific issues/initiatives 3)Cross-collaboration w/other PRO workgroups Shared Prosperity Work Group5 Meeting DateTimeLocation Wed, Feb. 51:30-3:00 McKnight Foundation Thurs, Mar. 610:00-11:30GREATER MSP Wed, May 710:00-11:30 McKnight Foundation Wed, Aug. 610:00-11:30GREATER MSP Wed, Oct. 2210:00-11:30McKnight Foundation
Workgroup Projects Accomplished & embedded in one- year Aligns with existing organizational objectives Resources and partners can be secured Fill a niche in the ecosystem Shared Prosperity Work Group6
Context: Related Activities WorkforceMBE Advancement Sub-Regional Strategies Small Biz Development Other (multi- issue) Twin Cities Construction Consortium MEDA programsNorth Minneapolis Job Creation Team NDC – Job Creation Everybody In MSP WIN (sectoral strategies, etc) SBA Emerging Leaders East Metro Strong MEDA – Job Creation Central Corridor Anchor Partnership Itasca Workforce Alignment Certification Portal - Government procurement Southwest LRT eTOD (employment) MCCD – Open to Business Itasca socio- economic disparities Corridors 2 Careers – phase 2 Business Bridge- Itasca Minneapolis Equity in Employment DEED, Mpls & other funding to biz asst orgs Accelerate MSP Shared Prosperity Work Group7
Two Projects Regional Success Measures – create a single, shared set of indicators, supported by a cross-sector regional partnership, to create a common view of the region’s performance. – Includes social, economic, and environmental Urban Competitiveness Strategies – guide business attraction, expansion, and retention and job creation to support (re) development in the core cities & connected transit corridors – Achieve Triple Bottom Line results (economic development that is socially equitable and environmentally sustainable) Shared Prosperity Work Group8
Reflections? Shared Prosperity Work Group9
WORKING DRAFT Last Modified 2/4/ :43 AM Central Standard Time Printed Regional Success Indicators February 5, 2014 Discussion document CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of McKinsey & Company is strictly prohibited Creating a shared perspective on our progress as a region
Last Modified 2/4/ :43 AM Central Standard Time Printed 11 What Matters Gets Measured There’s consensus in our region that indicators are important – they help us, as a region, answer key questions: How do you know your region is making progress, if you do not measure change? What if the region is changing, but the public doesn’t recognize what is happening? What can stimulate regional leaders to take action? Regional metrics provide answers to these fundamental questions and can create a common fact base to develop regional solutions. SOURCE: Questions adapted from the Lincoln Land Institute, Alliance for Regional Stewardship
Last Modified 2/4/ :43 AM Central Standard Time Printed 12 The Project: Regional Success Indicators This year, our region will create a set of shared, objective metrics to track the Greater MSP region’s overall success on critical economic, environmental and social outcomes. More effective regional priority-setting Greater coordination across regional initiatives Better visibility & use of existing data assets Increased economic competitiveness The result for our region will be
Last Modified 2/4/ :43 AM Central Standard Time Printed 13 “ Wait... I thought we did that already?”
Last Modified 2/4/ :43 AM Central Standard Time Printed 14 “ Wait... I thought we did that already?” Business Vitality Index Regional indicators CCE Indicators
Last Modified 2/4/ :43 AM Central Standard Time Printed 15 Our Region’s Unique Challenge Our region does not lack metrics. We have done a great work and invested huge resources to create multiple indicator sets. But in practice, this diffusion of effort and focus robs us of the benefit of measurement. Where do we all look to answer the most basic question: How are we doing? Without consensus on a single, shared set of metrics we are struggling to move consistently and quickly from measurement to collective action. MEASURE REVIEW ACT
Last Modified 2/4/ :43 AM Central Standard Time Printed 16 Finish the Job We have the opportunity to draw upon all of our work to date and establish a shared set of key metrics. This capstone effort on regional measurement will help leaders converge around a set of metrics that are: Objective Comprehensive (economic, social, environmental) Compact (20-25 key measures in 5-6 categories) Benchmarked against peer regions Clearly and consistently communicated Endorsed and used by organizations region-wide
Last Modified 2/4/ :43 AM Central Standard Time Printed 17 The Push to Act Consensus accelerator The benefits of a shared dashboard for leaders in the public, private and nonprofit sectors would be immediate and significant. The new consensus around key metrics will help us manage growth, focus investment, set strategic priorities and act more quickly in areas requiring cross-sector collaboration. Regional Economic Development Strategy Establishing regional indicators is one of the six action items identified in the region’s 3-5 year competitiveness strategy. The new indicators will provide a data- driven, comprehensive answer to the fundamental question “how are we doing” and enable a new range of collaborative endeavors central to execution of the strategy. Global best practice High-performing regions around the globe use indicators to develop and maintain a common understanding of what’s critical to their success. In our region, the indicators will be used to benchmark against national and international peers and, over time, produce valuable trend data on our region’s performance.
Last Modified 2/4/ :43 AM Central Standard Time Printed 18 Successful regions around the world are adopting indicators to drive continued growth and prosperity SOURCE: City and agency websites Example to be explored to select MSP’s indicators Seoul San Diego Charlotte Atlanta Singapore London Boston Philadelphia Seattle PRELIMINARY
Last Modified 2/4/ :43 AM Central Standard Time Printed Like most best practice regional indicators, San Diego’s are organized into categories ▪ San Diego’s indicators are prominently displayed on the homepage of the regional economic development organization ▪ Oriented to tell story of region’s talent, e.g., talent has its own category, above economy ▪ Engaging, at-a-glance display both simplifies message and invites viewer to explore PRELIMINARY SOURCE: SanDiegoBusiness.org/Research; Io.inc, McKinsey Cities Initiative
Last Modified 2/4/ :43 AM Central Standard Time Printed 20 London’s set of indicators is focused on sustainable development, which it defines broadly SOURCE: London Sustainable Development Commission
Last Modified 2/4/ :43 AM Central Standard Time Printed 21 A Meaningful Step Toward Greater Regional Equity Private, public and nonprofit leaders in our region agree greater equity must be a top priority. Our regional dashboard can place equity measures on the same plane as other primary metrics, such as economic growth. The result will be more accountability for all of us on the goals we believe are critical to our long-term success.
Last Modified 2/4/ :43 AM Central Standard Time Printed 22 Process: Boardrooms and Spreadsheets SOURCE: Source TECHNICAL* LEADERSHIP CONSENSUS BUILDING Regional Priorities Process, Goals, Outcomes METRIC IDENTIFICATION & SELECTION COMMUNICATION ADOPTION & UTILIZATION JANUARYJULY DECEMBER *demographic, marketing, forecasting and other specific disciplines of expertise We begin by engaging leaders to build consensus around the categories for the regional dashboard. Technical expertise is phased in as the conversation turns to choosing specific metrics. PRELIMINARY
Last Modified 2/4/ :43 AM Central Standard Time Printed 23 Process: Recognizing and Incorporating Existing Efforts This effort will leverage the consensus established by all previous and current efforts about what areas deserve measurement and tracking. There is no presumption that the new shared dashboard will replace any of the current data sets. Dialogue with many public, private and nonprofit organizations is a core element of this project.
Last Modified 2/4/ :43 AM Central Standard Time Printed 24 Project 2014 Timeline Deliverables ▪ Create video of Bd lead ▪ Collect ext. models/best practices ▪ Identify internal models, resources Business case for project Draft categories (5-6) Initial list of benchmark regions Activities Build team, hire facilitator Conduct sessions to introduce project, collect input January April MaySeptemberOctober December Phase 1 CONVERGE Phase 2 DESIGN Phase 3 COMMUNICATE Leadership Technical Milestones ▪ Refine input process, identify stakeholders ▪ Set working team w/roles Metrics in each category Draft mock-up of dashboard Draft communications plan PRO xx SP: Feb 5; March 6 PAC/Itasca/MetCncl/GMSPBd Final dashboard Regional benchmark set Communications & Maintenance plan Hold tech. sessions on metrics Plan marketing/comms Share, collect input on draft categories w/ metrics PRO xx SP: May 7, August 6 PAC/Itasca/MetCncl/GMSPBd PRO xx SP: Oct 22 PAC/Itasca/MetCncl/GMSPBd Final review, revision of dashboard w/key groups Design final dashboard brand ▪ Identify org. owner for data curating ▪ Create roll out strategy w/timeline, partners, resource plan ▪ Execute roll out strategy ▪ Refine metrics ▪ Define process and resources to collect, publish metrics ▪ Create first version of dashboard IN PROCESS
Questions What are your ideas? – Key stakeholder groups – Best practices from other regions? Shared Prosperity Work Group25
Urban Competitiveness Strategy Activities (illustrative): Identify target industries and subsectors (examine spectrum of occupational needs) Develop differentiated strategies to attract investment and job creation in: – Areas of market challenge – TOD – Opportunity sites Shared Prosperity Work Group26
Discussion Shared Prosperity Work Group27 What are your reactions to the two projects? Are there other ideas for how this group can advance change in 2014?
Next Steps Shared Prosperity Work Group28 Regional Success Measures: – Share this update at February PRO meeting – Develop and share outreach strategy – Use March 6th workgroup meeting to gather categories to group indicators Urban Competitiveness Strategy: – Project team will meet in February, come to 3/6 meeting with goals for discussion