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Partnering to Promote Economic Growth February 13, 2006.

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Presentation on theme: "Partnering to Promote Economic Growth February 13, 2006."— Presentation transcript:

1 Partnering to Promote Economic Growth February 13, 2006

2 What is Economic Development?

3 . WEDI It is the process by which a community organizes and then applies its energies to the tasks of improving the economic well- being and quality of life for the community. Economic development is an investment in the community. WEDI

4 Why Economic Development?  Creating and Retaining Desirable Jobs  Increasing the Tax Base  Providing Services and Paying the Bills  Maintaining a Strong Economy 

5 Economic Development A Dynamic Process  Global economy  Mergers and restructuring  Shifting market preferences  Must be alert for new opportunities to diversify local economies

6 Components of Economic Development A.Organizational Development B.Infrastructure Development C.Business Development D.Workforce Development E.Community Cash Flow Development

7 Department of Commerce Resources

8 Bureau of Business Development  Coordinates and Facilitates Business Creation, Retention and Expansion Efforts in Wisconsin (Area Development Managers)  Underwrites, Contracts and Services Program Funds (Business Finance)

9 Region 1: William Lehman 715/656-3530 Region 2: Marty Ambros 715/836-2630 Region 3: Deb Clements 715/344-1381 Region 4: Dennis Russell 920/498-6302 Region 5: William Winter 608/647-4613 Region 6: Kathy Heady 608/266-9944 Region 7: Dave Martens 608/261-7711 Area Development Managers

10 Resources for:  Entrepreneurs  Fixed Assets & Working Capital  Customized Employee Training  Technology Development  Community Infrastructure  Brownfields Redevelopment 

11 Local Economic Development Contacts  County or Multi-County Development Corporations  Municipal or County Government  Utilities  Chambers of Commerce 

12 Local Development Organizations  Wisconsin Economic Development Association -  Economic Development Corporations or Chambers of Commerce - - go to partner links on the more info menu

13 Local Development Organization Resources  Revolving Loan Funds  Site Selection  Small Business Counseling  Business Incubators  Information and Much More …

14 “… Early care and education is being recognized as an important economic sector in its own right, and as a critical piece of social infrastructure that supports children’s development and facilitates parents’ employment.” Anon. Cornell University Website

15 WEDA Survey  WEDA Members Agree that Early Childhood Education is a critical Economic Development Strategy (48%)  Awareness is not shared by their local communities (44% no, 34% not sure)

16 Early Care and Economic Development  Early Care as an Economic Sector  Early Care is Important to Working Parents and Employers  Early Learning is an Important First Step in Future Workforce Development

17 Early Care as an Economic Sector  Significant Employment Base  Small Businesses  Multiplier Impact (Direct, Indirect, Induced)

18 Early Care – Labor Force  Labor Force Participation – 2004 - % Children under 6 with all parents in labor Force – 66%  Labor Shortages  Business Partnerships

19 Early Learning Key to Future Workforce  Return on Investment – (Belfield & Winters Study and others)  Achievement Gap

20 Working Together  Experience working with companies  Marketing buildings and labor resources to expanding businesses  Resources to help companies stay in business  Entrepreneurial Assistance

21 Communications  Internet:  Phone: See Area Development Manager Map  Entrepreneurs Network:  SBDC Answerline: 1/800-940-SBDC


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