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Community Mobility InstituteNew Directions in Economic Development
Clark Anderson, Sonoran Institute
May 11, 2015
where are we headed?
How we work is changing
How do we build resilient economies?
Economic Shifts
How do we Attract and Retain Talent?
New Directions in Economic Development
Then NowAttract from Outside
Bigger is Better (Larger Firms)Focus on your base sectors
“Elephant Hunting”Incentives & Subsidies
Build it and they will comeCompete for “Deals”
Retain/expand existing businessesLots of small businesses
Entrepreneurship (grow jobs here)Attract and Develop TalentWorkforce Development
Strategic Investments Public/Private Partnerships
Cooperate for Synergy
Place Value
Survey Respondents
476 Businesses494 Community Members
jobs follow people
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
Community
Consider both equally
Job
39%
44%
17%
What is more important in reloca-tion decisions:
job or community?
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
the shifting market
the shifting market
the shifting market
Location, location, location
Character and Sense of Place
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
walkablity90% said living walking distance to community destinations was important to housing decision
Convenience & access to amenities
Convenience & access to amenities
Houses farther apart; larger lots; drive to schools, stores, restaurants
Houses closer together on smaller lots; easy walk to schools, stores, restaurants
42%
58%
Access to Open Space & Recreation
Access to Open Space & Recreation
Houses farther apart; larger lots; drive to parks, playgrounds, and recreation
Houses closer together; smaller lots; easy walk to parks, playgrounds, recreation
38%
62%
Transportation ChoicesFactors 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!