Community Mobility Institute New Directions in Economic Development Clark Anderson, Sonoran Institute Clark Anderson, Sonoran Institute May 11, 2015.

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Presentation transcript:

Community Mobility Institute New Directions in Economic Development Clark Anderson, Sonoran Institute Clark Anderson, Sonoran Institute May 11, 2015

where are we headed? we headed?

How we work is changing How d do we build nomies? resilient economies?

Economic Shifts

How do we Attract and Retain Talent?

New Directions in Economic Development ThenNow Attract from Outside Bigger is Better (Larger Firms) Focus on your base sectors “Elephant Hunting” Incentives & Subsidies Build it and they will come Compete for “Deals ” Retain/expand existing businesses Lots of small businesses Entrepreneurship (grow jobs here) Attract and Develop Talent Workforce Development Strategic Investments Public/Private Partnerships Cooperate for Synergy

Place Value Place Value

Survey Respondents 476 Businesses 494 Community Members

jobs follow people

People are drawn to great places

Cost of housing is important 68 % of community members: community lacks sufficient housing choices 60% of employers: cost of housing impacts ability to attract employees

People on the move are seeking great places

Expanding firms care about being able to attract and retain talent

people will sacrifice salary for ideal community (17% higher salary vs. 83% ideal community)

what makes a place great?

the shifting market

Location, location, location

Market Shifts

Character and Sense of Place

Most people prefer detached single-family homes, but it needs to evolve

Character and Sense of Place RESET STUDY: 89% prioritize neighborhood character over home size PLACE VALUE: Neighborhood character a priority in decision to locate or remain in a community

walkablity 90% said living walking distance to community destinations was important to housing decision

Convenience & access to amenities Convenience & access to amenities

Access to Open Space & Recreation

Access to Open Space & Recreation

Transportation Choices Transportation Choices Factors important to housing decision: Short Commute 89% (68% VERY) Walk to destinations 90% Live near transit 57%

The Downtown Premium

How does transportation create Place Value?

Are these places attracting talent?

Are they attracting investment?

Are they safe, convenient and easy to get around?

Are they shaping the type of community we want to live in?

Great communities have great transportation systems

Thank you!