Della G. Rucker, AICP, CEcD The Wise Economy Workshop Jim Kinnett, CEcD, FM, EDFP The Kinnett Consulting Group Mark Barbash, FM Economic Development Consultng

 Changing Thoughts  How is your community doing?  What you can do to help your community improve?

 Della Rucker  Jim Kinnett  Mark Barbash

 Public-private organizations  Chambers  Local, regional & state organizations  Local and state government  Foundations  Neighborhood, downtown, community development organizations  Increasingly, you.

 Who is at the table? (hint: more than ever)  Non-partner partners  Loss of local businesses = loss of decision makers  Medium sized business reluctant to participate in economic development

 Community college lifeline  Reshoring?  Research and Development  Educating entrepreneurs  Public schools

 Entrepreneurs!!  Grow your own: Economic Gardening  Incubators and accelerators  1099 economy

 Quality Places get most investment  Build on assets  It’s all connected  Cost v. benefits in a new way

 Where people get information  Site selection changing  Reputation management  No filters, no delays  People will have their say.

Change or Die Be Strategic & Deliberate Redefine incentives Understand how a business makes decisions Find new partners – but understand their (and your) limitations Do the math & know your numbers

Economic development is acting to ensure that the economy of your community or region (your income or savings) grows faster than your population (your expenses) so you have the extra resources in the future to finance improvement.

 Is your economy growing faster than your population? Economy: Income, savings, wages, Population: Count, demographic, and the costs of serving the population  Income greater than your expenses?

How do you know if your economy is growing faster than your population?

 Do you have adequate fiscal resources to meet short-term needs and long-term?  Is the community maintaining the number & quality of jobs?  Is the community dependent on a limited number of businesses?  Do you have a balance of land uses?  To what extent is your local economy based on regional assets? A-list

 Is your environment improving?  Is your crime activity increasing?  Do you have housing that your residents can afford, and a range of housing choices available?  Is the educational attainment of your school systems improving ? B-list

 Is leadership strong in your community?  Is tolerance and diversity strong in your community?  Do your have strong infrastructure systems?  Are people involved in community activities?  Do you have a strong healthcare delivery system? C-list

Litmus ItemAB Short term fiscal strength?LowMedium Not dependent on one /small # businesses? LowMedium Quality of jobs?LowHigh Educational attainment?LowHigh Lack of crime?Medium Housing cost?LowHigh Leadership?Medium Diverse range of people?MediumLow Strategy??

Strategy IdeasAB Short term fiscal strength?ConsolidationMonitor Not dependent on one /small # businesses? DiversificationMedium Quality of jobs?Community College Linkage Incubator Educational attainment?LowHigh Lack of crime?Support Police Budget Housing cost?LowHousing Diversity Leadership?Medium Diverse range of people?MediumLow

Strategic Perspective Tactical Opportunistic Organized Delusion Clueless Apathy Hostile Waters

 Do you know how your community is doing?  Who are your partners (if any)?  Do you know where you want to go?  Are you brave enough to start on that path?

Della Rucker, AICP, CEcD The Wise Economy Workshop Della Rucker AICP CEcD Also on LinkedIn and Google+ James Kinnett, CEcD, FM, EDFP The Kinnett Consulting Group Mark Barbash, FM Economic Development Consulting