Sustainable Econonmic dev Michigan 09 13 10

Sustainable Economic Development

Della G. Rucker, AICP, CEcD JACOBS | Urban Design + Planning Michigan Downtown Conference

September 13, 2010

American Planning Association National ConferenceApril 11, 2010

What is our conventional approach to economic development?


What are the assumptions?

If you build it they will comeShoot what flies and claim what fallsBigger is betterSuccess is one size fits allBasic requirements aside, most communities are interchangeableThe key driver of economic development = low site costs. The lower the costs, the more business


What is sustainable economic development?


What is this?

Constantly looks for new and unexpected opportunitiesEmbrace differentiators and values assetsFocus on cultivating its native species, rather than investing everything it has in transplants. Cultivate consciously and according to a plan. Bewares one-shot solutions and magic pills. Maintains bravery in the face of setbacks. Fertilizes the soil. Maintains a healthy environment. Understands the unique role that it can play in that world.


What keeps us from doing sustainable economic development?

Hanging on to hope for obsolete industriesUnwilling to make investments/take risksLooking for one-shot solutionsThere’s no obvious solution paralysis.Chasing after anything that comes along, whether it fits or notWho’s gonna do it?


How to grow a sustainable economy:

1. Know thyself.2. Focus on your assets.3. Make a plan.4. Retain your healthy businesses,

especially small ones.


How to grow a sustainable economy:

5. Recruit and grow small businesses in healthy segments.

6. Prune your retail.7. Keep your focus.8. Be in it for the long haul.


1. Know thyself.

What does your community need?−Jobs for residents?−Property taxes?−Improved reputation/ appearance?−Income/earnings taxes?

What parts of town need attention?What needs to happen? −Growth −Change in quality−Improved appearance−New jobs


An Example

Our community will offer a variety of opportunities for employment, education, shopping, dining and culture.

Wapakoneta’s residents will expect and support high standards for the appearance and efficiency of our business sites.

Our major corridors, public areas and key entry points will demonstrate that Wapakoneta is a place people want to be.

Wapakoneta will cooperate with surrounding communities to attract businesses and industries strategically and responsibly,enhancing the community’s total quality of life.


2. Focus on your assets.

What are these? Provide/do/support better than others.Unique to your community.

How do you find them?Analysis - high growth/high share sectors.Examine successful, similar places.Ask your business owners, leaders, residents.


What are assets?



3. Make a Plan to Get What You Want

Ambitious … visionary …impossible? Identify a small number of prime sectors to target (and the businesses that support them).

Build buy-in.Put it in writing.


Remember:

−Not all economic development is goodeconomic development.

−Not all short-term gains are worth the long-termcosts.

−Sometimes it’s best to let it go.


4. Retain your healthy businesses (especially the smaller ones)

Who is healthy?

−Growing --sales, employment, site−Fits target sectors (or has

synergy with them)−Benefits the community

(double/triple net)


What’s so great about small businesses?

− Small and young businesses = biggest source of job growth

− More likely to be locally owned (and stay when they get bigger)

− Often better able to adapt to economic changes

− Your target industry sectors may be dominated by small businesses.


4. Retain your healthy businesses

How do you retain them?

− Talk frequently and honestly.− Take their concerns seriously − Fix them if you can.− Help them find other things they

need (e.g, loans).− Make sure they know you value

them.− Encourage them to participate.− Thank them.


5. Recruit and Grow Small Businesses

How do we find them?−Word of mouth −Next door−Potential entrepreneurs −Business incubator tenants

How do we help them grow?−Talk to them−Listen to them−Know where to find help−Help them talk to each other


6. Prune Your Retail

Why?Most markets have too much New retail vacant old retailObsolete retail depresses market demand & valuesMuch obsolete retail has a better potential useUse your zoning to move that way


7. Keep your focus

Hard decisions are a fact of life.Hold the course!Communicate to everyone (and refer to the plan)


Again….

Remember:− You can’t change the past.− Not all economic development is

good economic development.− Not all short-term gains are worth

the long-term costs.− Sometimes it’s best to let go.


8. Be in it for the long haul

Quick solutions usually don’t work, or not for longCelebrate every small success Communicate the Vision Stay the course!


Where does the garden metaphor break down?

This garden is too big for any one gardener – we can’t do it alone.


Questions? Insights? Good ideas?


“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts.

Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race”

- Calvin Coolidge.

Parting thought


Thank you!

Della G. Rucker, AICP, CEcD

JACOBS | Urban Design + Planning

1880 Waycross RoadCincinnati, OH 45240

Phone: 513-288-6613

[email protected]: @dellarucker

Real Estate

Sustainable Econonmic dev Michigan 09 13 10