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!