Bringing Economic Development into the 21 st Century
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Transcript of Bringing Economic Development into the 21 st Century
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Bringing Economic Development into the 21st Century
Maury Forman
WEDA Winter ConferenceFebruary 13, 2012
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Washington Economic Development 2011
•Ranked #2 in Sustainability•Ranked #2 in Entrepreneurial Activity•Total Exports were $53.2 billion•31% of residents have college degree•1.71 patents per 1000 residents•Ranked #3 Greenest State •Agriculture output has a value of $8.25 Billion
•#1 in software employment•#2 in nationally certified teachers
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20th Century Stool Theory
Economic Development
Economic Development
CommunityDevelopment
Business Retention & Expansion
BusinessAttraction
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Definition
•Community Sustainability is
about prospectively spotting where the
best opportunities exist to accomplish
your area’s particular economic
development objective.
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21st Century Stool Theory
Economic DevelopmentEconomic Development
Asset Development
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Definition
Asset mapping is the development
of policies and activities based on an
understanding, or ‘map,’ of the
community’s resources with the potential
for promoting community development.
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Infrastructure Report CardAviation D
Bridges C
Dams D
Drinking Water D-
Energy D+
Hazardous Waste D
Levees D-
Public Parks & Recreation
C-
Rail C-
Roads D-
Schools D
Solid Waste C+
Transit D
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The Nonprofit Arts are a $134 Billion Industry
Total Expenditures $134.0 billion
Full-Time Equivalent Jobs 4.85 million
Local Government Revenue $6.6 billion
State Government Revenue $7.3 billion
Federal Income Tax Revenue $10.5 billion
Total Economic Impact of the Nonprofit Art Industry
(Includes both organization and audience expenditures)
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Adding more foot tapping, smile inducing moments to our lives is sound
public policy.
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Definition
•Workforce Development is a
statewide system of education and
training that prepares people for high skill
jobs and assures employers of a skilled
flexible workforce in the future.
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Workforce Consists of…
•Boomerangers
•Lifers
•Transplants
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21st Century Stool Theory
Economic Development
Economic Development
Entrepreneurial Development
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versusDino Jaws
• Flexibility
• Adjustability
• Adaptability
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Build a Stand, Spark a Dream
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Definition
•Intraprenuers are highly self-motivated,
proactive and action-oriented people who
are comfortable with taking the initiative,
within the boundaries of an organization,
in pursuit of an innovative product or
service.
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“That’s a good idea, but…”
•It’s against company policy •It’s not practical •It’s not necessary •We don’t have the resources •It will cost too much •We’ve never done it that way •Our customers (or vendors) won’t like it •It needs more study •It’s not part of your job •Let’s make a survey first
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“That’s a good idea, but…”
•Let’s sit on it for a while •That’s not our problem •The boss won’t go for it •The old timers won’t use it •It’s too hard to administer •Why hasn’t someone else suggested it
before? •Let’s form a committee •We should wait until the economy improves •Who else has tried it? •Is it best practice?
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21st Century Stool Theory
Economic Development
Economic Development
Technical Assistance
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Statewide Resources for Existing Businesses
•Innovate Washington
•Export Finance Assistance Center of Washington
•Washington State Microenterprise Association
•Impact Washington
•Center for Economic Vitality (WWU)
•Small Business Development Centers
•Gov. Office of Regulatory Assistance Small Business Solutions
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New Tools for Existing Businesses
•Small Business Credit Initiative
•State Trade and Export Promotion
•www.Business.wa.gov
•www.BizGuide.wa.gov
•http://www.commerce.wa.gov/smallbizhelp/
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Frank Perdue's chicken slogan, "it takes a strong man to make a tender chicken" was translated into Spanish as "it takes an aroused man to make a chicken affectionate."
If he gets cute with me I’ll break more than a couple eggs.
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Export Businesses Have...
• ...a vision of world trade
• ...an understanding of others culture and their
dynamics
• ...the drive to define, measure and open
markets
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Economic Leakage
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You see, Timmie
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What you are thinking at this very moment
• I learned some new things in this presentation
• I would like to buy this guy a drink later on
• I can’t believe I have to listen to one more
presentation