Economic Revitalization Returns on Investments; Returns for Communities Jeremey Newberg

So long Mr. Schwartz. I’m leaving. Nowadays, software’s where it’s at.”

“We are neither software nor hardware. We are your parents!”

It Is Time To...  Get Our Communities Back Into Shape physically, economically, socially, politically and spiritually.  Revitalize Economic Health of Post-Industrial Communities  Implement Strategies to Increase the Capital Base of Communities  Encourage Housing and Community Developers to become Leaders in Economic Revitalization

Economic Health Diagnose the Economic Health of your Community How do folks think of your Community? How is your circulation functioning? Are local businesses experiencing “Failure To Thrive” Syndrome? Is your region sprawling out from the center and leaving the core unhealthy? What steps does your community take to reach optimal performance?

Revitalization of the Economic Health of a Community: A model that draws on the lessons learned of Housing and Neighborhood Revitalization practitioners where: 1.the Neighborhood is the Economic Hub in the Connected Age rather than a single employer 2.The focus is on cultivating creative, talented, industrious and entrepreneurial People who love being connected to your community.

Industrial Age Economic Revitalization for the Connected Age Only About Jobs Creativity Sustainability Jobs Place Quality of Life

Lean into the Shift: From Industrial to Connected Age The “New Normal” has lead to persistent unemployment due to super efficiency from automation, global supply chains, cheap labor abroad and gridlocked federal government Big Box fatigue. We cannot consume our way back to prosperity Knowledge, creativity and grit drive new businesses Smart people can and do work from anywhere Increased demand for housing close to where folks work Interest in quality, denser living at a more human scale

Partners need to Re-define, Re-invigorate and Re-commit to the Practice of Partnership to implement economic revitalization strategies. No One Can Do It Alone

Deep Market Analysis What are the assets to build upon that can anchor an Economic Revitalization Strategy in your Community?  Quantitative Data  Qualitative Data  Legacy and Soul

The “Keystone State" refers to the central stone in an arch which holds all of the other stones together. Legacy and Soul

Commercial Districts and Geography 1.Targeting existing businesses: – What do they do well? – What do they need to expand? 2.Targeting properties: “A Strategy for Every Property” – Do maps and databases align? – Keep what is good. – Rehab, demo and/or redevelop as needed.

Relationship Building for “Shared Investment and Shared Prosperity” Data analysis is a wonderful relationship building opportunity Leaders and managers need a forum to share their stories A plan helps you say “Yes” and provides reinforcements for when you have to say “No”

Craft a Vision: Commercial Policy and Brand Build From Your Strengths and Soul What do you want to be known for and what will attract existing and new businesses to invest in your community? Know who you are and what you want to be and show what steps you will take to get there

Vision How do you define Prosperity in the global, post industrial, connected information Age? How sustainable is going big? Have you considered the upside of Get Smaller to Get Better? What should be your community’s measurements of success?

Strategies to Implement the Vision: Prioritize and Coordinate Investments  Marketing and Branding  Infrastructure  Quality of life services  Businesses  Work Spaces  Housing

Formalize Partnership Roles and Responsibilities  Business  Political  Institutional  Community Leaders

Marketing to Identify:

Raise Capital Planning – Market analysis, relationship building and professional services. Marketing – To attract businesses and residents. Build Out:  Acquisition and site preparation  Construction and permanent financing  Incentives and Investments to reach target businesses and uses

Capital for Investments Seed Capital Deep Market Analysis Planning Acquisitions Site Preparation Strategic Marketing Incentives Harvest Capital Build out the Projects  Housing  Infrastructure  Quality of Life Services  Work Spaces  Marketing  Businesse s

How Capital Access Facilitates Economic Revitalization Strategies

Where Has This Model Worked? “B3” - Blocks Below Broad Street 13 th Street between Spruce and Chestnut, Philadelphia Tony Goldman Redevelopment

The White BuildingAfterBefore Located in the B3 District of Center City, this is a historic structure that has been transformed to meet the demands of urban living.

Key Factors for Success Strategic site selection Cleans up Facades and puts in New Infrastructure Makes Attractive to Retailers and the “Creative Class" through commercial space Has over $100 million budgeted towards Revitalization for B3.

Fiercely Focused, Persistently Productive Layered Financing Executive Leadership Professional Management Capacity Cultivation of Businesses Need Love, Encouragement and Support

Go Serve as Your Community’s Economic Revitalization Trainer  Examination Analyze market conditions, needs and opportunities  Set Goals Develop Vision and Strategies Produce Plan with Measurable Outcomes  Exercise & Nourishment Implement Plan and Cultivate Partnerships Market the Vision and Opportunities Raise “Seed and Harvest” Capital  Self Monitoring Journal Review Production Goals, Capital & Relationships  Make Adjustments as Needed

Is your Community Ready for Economic Revitalization?  Is there a plan?  Is there leadership and consensus?  Is there a proven track record of successful partnerships and projects? “I only go where I am loved.” - Jeremey Newberg

Do not fear Failure. Failure happens only when you do not learn something the experience. You know your Communities Best. Take fear out of the equation.

What Have You Learned? How does the Term Economic Revitalization Resonate for you and your community? Is your community ready for an Economic Revitalization Plan? If not what do you need to do to get closer to ready? What role can you play in improving the economic health of your community?

Be Bold. Do Good. Get Your Communities Back Into Shape.

Jeremey Newberg Thank you! Returns on Investments; Returns for Communities.