Della G. Rucker, AICP CEcD

The Wise Economy Workshop

Jim Kinnett, CEcD, FM, EDFP

The Kinnett ConsultingS Group

Mark Barbash, FM

Economic Development

Consultng

What is Local Economic

Development?

Best Practices and National

Trends

How is your community doing?

What you can do to help your

community improve?

Della Rucker

Jim Kinnett

Mark Barbash

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.

Public-private organizations

Chambers

City departments

Regional organizations

State organizations

Neighborhood, downtown,

community development

organizations

Increasingly, you.

Never waste a

good crisis!

Cuts at state AND federal

levels

Stress on operating ED

budgets

New ways to

collaborate

Restructuring of state

and local ED

partnerships

What’s the future of

incentives?

Changing State

Roles • Wisconsin

• Florida

• Ohio

Local and regional

groups adjusting to

the new reality

Ambivalence/Disconnect

over manufacturing

Re-shoring in some

industries, but it’s not the

same

Pressure to improve

efficiency

The right skills for the right

job.

Web –enabled site

selection

Global competition - even

for small communities

Critical need for retention

and expansion

Must have a fully qualified

workforce

New types of work and

spaces

Increasing importance of

small businesses (but not

just any)

Changing ways to do

business

Freelancer Economy

Strategic Doing vs.

Strategic Planning

Increased focus on skill

and workforce

development

Economic Gardening vs.

Entrepreneurship

“The knowledge economy…”

Everyone’s in the innovation business

Connect to higher education.

Importance of places that matter.

Online networks and

communication

Speed & reach of ideas

Crowdsourced finance

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?

A-list Do you have adequate fiscal

resources to meet short-term needs?

Do you have adequate fiscal resources to meet long-term needs?

Is the community maintaining the number &quality of jobs?

Is the community dependent on one or a small number of businesses?

B-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 educational attainment improving?

C-List

Is leadership strong in your community?

Is tolerance, diversity and interest strong in your

community?

Do your have strong transportation systems?

Is there social harmony in the Community?

Do you have a strong healthcare delivery system?

Town A:

Litmus Item High Medium Low

Short term fiscal strength? X

Not dependent on one /small #

businesses?

X

Quality of jobs? X

Educational attainment? X

Lack of crime? X

Housing cost? X

Leadership? X

Diverse range of people? X

Town B:

Litmus Item High Medium Low

Short term fiscal strength? X

Not dependent on one /small #

businesses?

X

Quality of jobs? X

Educational attainment? X

Lack of crime? X

Housing cost? X

Leadership? X

Diverse range of people? X

Strategic Perspective

Tactical Opportunistic

Organized Delusion

Clueless Apathy

Hostile Waters

Talk to each other

Prod the economic

developers to talk to

each other

Tear down the walls

between you and them

Make all plans in real

partnership

Be accountable to the

public

Pull them into the

conversations to help you

find the best answers

How? Stay tuned….

Della Rucker, AICP, CEcD The Wise Economy Workshop www.wiseeconomy.com Della.rucker@wiseeconomy.com 513.288.6613

@dellarucker

Della Rucker AICP CEcD

Also on LinkedIn and Google+

James Kinnett, CEcD, FM, EDFP The Kinnett Consulting Group www.kinnett.biz Jim@kinnett.biz 812.290.5663

Mark Barbash, FM Economic Development Consulting www.markbarbashconsulting.com mark@markbarbashconsulting.com

Also on LinkedIn