Shared Prosperity Workgroup Kickoff Meeting February 5, 2014 1:30 – 3:00PM McKnight Foundation...

Shared Prosperity Work Group 1

Shared Prosperity Workgroup Kickoff Meeting

February 5, 20141:30 – 3:00PM

McKnight Foundation

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Our Vision: Growing a prosperous, equitable, and sustainable region

Our Goals: To enhance the region’s economic competitiveness we will: 1) Improve the economic prospects of low-income people and low-wealth

communities2) Promote high quality development near existing assets (e.g. employment

centers, transitways, and commercial and industrial corridors)3) Advance a 21st century transportation system

Background

Approved 11/20/2013

PRO has three workgroups• Shared Prosperity• Regional Equity & Community Engagement• Transit Oriented Development

Scope of work has 1-year time horizon.


Workgroup Objectives

• Accomplish 2-3 things that advance more socially equitable & environmentally sustainable economic development

• Enhance on-going work elsewhere in the region

• Deliver outcomes that are both tactical & immediate AND set the stage for longer-term change and action.


Workgroup Roles

• Project development– Shape, advise, review,

represent

• Bring organizational expertise

• Forge connections– Build partnerships to

other tables

• Others?


WorkGroup Meetings

Meeting Objectives:1) Project work &

updates2) Deep dives into

specific issues/initiatives

3) Cross-collaboration w/other PRO workgroups

Meeting Date Time Location

Wed, Feb. 5 1:30-3:00 McKnight Foundation

Thurs, Mar. 6 10:00-11:30 GREATER MSP

Wed, May 7 10:00-11:30 McKnight Foundation

Wed, Aug. 6 10:00-11:30 GREATER MSP

Wed, Oct. 22 10:00-11:30 McKnight Foundation


Workgroup Projects• Accomplished &

embedded in one-year• Aligns with existing

organizational objectives

• Resources and partners can be secured

• Fill a niche in the ecosystem


Context: Related ActivitiesWorkforce MBE

AdvancementSub-Regional Strategies

Small Biz Development

Other (multi-issue)

Twin Cities Construction Consortium

MEDA programs North Minneapolis Job Creation Team

NDC – Job Creation

Everybody In

MSP WIN (sectoral strategies, etc)

SBA Emerging Leaders

East Metro Strong

MEDA – Job Creation

Central Corridor Anchor Partnership

Itasca Workforce Alignment

Certification Portal - Government procurement

Southwest LRT eTOD (employment)

MCCD – Open to Business

Itasca socio-economic disparities

Corridors 2 Careers – phase 2

Business Bridge- Itasca

Minneapolis Equity in Employment

DEED, Mpls & other funding to biz asst orgs

Accelerate MSP


Two Projects

• Regional Success Measures– create a single, shared set of indicators, supported

by a cross-sector regional partnership, to create a common view of the region’s performance.

– Includes social, economic, and environmental• Urban Competitiveness Strategies

– guide business attraction, expansion, and retention and job creation to support (re) development in the core cities & connected transit corridors

– Achieve Triple Bottom Line results (economic development that is socially equitable and environmentally sustainable)


Reflections?

WORKING DRAFTLast Modified 2/4/2014 11:43 AM Central Standard Time

Printed

Regional Success Indicators

February 5, 2014

Discussion document

CONFIDENTIAL AND PROPRIETARYAny use of this material without specific permission of McKinsey & Company is strictly prohibited

Creating a shared perspective on our progress as a region

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What Matters Gets Measured

There’s consensus in our region that indicators are important – they help us, as a region, answer key questions:

• How do you know your region is making progress, if you do not measure change?

• What if the region is changing, but the public doesn’t recognize what is happening?

• What can stimulate regional leaders to take action?

Regional metrics provide answers to these fundamental questions and can create a common fact base to develop regional solutions.

SOURCE: Questions adapted from the Lincoln Land Institute, Alliance for Regional Stewardship

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The Project: Regional Success Indicators

This year, our region will create a set of shared, objective metrics to track the Greater MSP region’s overall success on critical economic, environmental and social outcomes.

• More effective regional priority-setting• Greater coordination across regional initiatives• Better visibility & use of existing data assets • Increased economic competitiveness

The result for our region will be

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“ Wait . . . I thought we did that already?”

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“ Wait . . . I thought we did that already?”

Business Vitality Index

Regional indicators

CCE Indicators

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Our Region’s Unique Challenge

Our region does not lack metrics. We have done a great work and invested huge resources to create multiple indicator sets.

But in practice, this diffusion of effort and focus robs us of the benefit of measurement. Where do we all look to answer the most basic question: How are we doing?

Without consensus on a single, shared set of metrics we are struggling to move consistently and quickly from measurement to collective action.

MEASURE

REVIEW

ACT

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Finish the Job

We have the opportunity to draw upon all of our work to date and establish a shared set of key metrics.

This capstone effort on regional measurement will help leaders converge around a set of metrics that are:

• Objective• Comprehensive (economic, social, environmental)• Compact (20-25 key measures in 5-6 categories)• Benchmarked against peer regions • Clearly and consistently communicated • Endorsed and used by organizations region-wide

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The Push to Act

Consensus accelerator The benefits of a shared dashboard for leaders in the public, private and nonprofit sectors would be immediate and significant. The new consensus around key metrics will help us manage growth, focus investment, set strategic priorities and act more quickly in areas requiring cross-sector collaboration.

Regional Economic Development Strategy Establishing regional indicators is one of the six action items identified in the region’s 3-5 year competitiveness strategy. The new indicators will provide a data-driven, comprehensive answer to the fundamental question “how are we doing” and enable a new range of collaborative endeavors central to execution of the strategy.

Global best practiceHigh-performing regions around the globe use indicators to develop and maintain a common understanding of what’s critical to their success. In our region, the indicators will be used to benchmark against national and international peers and, over time, produce valuable trend data on our region’s performance.

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Successful regions around the world are adopting indicators to drive continued growth and prosperity

SOURCE: City and agency websites

Example to be explored to select MSP’s indicators

Seoul San Diego Charlotte

Atlanta

Singapore

LondonBostonPhiladelphia

Seattle

PRELIMINARY

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Like most best practice regional indicators, San Diego’s are organized into categories

▪ San Diego’s indicators are prominently displayed on the homepage of the regional economic development organization

▪ Oriented to tell story of region’s talent, e.g., talent has its own category, above economy

▪ Engaging, at-a-glance display both simplifies message and invites viewer to explore

PRELIMINARY

SOURCE: SanDiegoBusiness.org/Research; Io.inc, McKinsey Cities Initiative

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London’s set of indicators is focused on sustainable development, which it defines broadly

SOURCE: London Sustainable Development Commission

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A Meaningful Step Toward Greater Regional Equity

Private, public and nonprofit leaders in our region agree greater equity must be a top priority.

INFRASTRUCTUREGROWTH

TALENTEQUITY

Our regional dashboard can place equity measures on the same plane as other primary metrics, such as economic growth.

The result will be more accountability for all of us on the goals we believe are critical to our long-term success.

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Process: Boardrooms and Spreadsheets

SOURCE: Source

TECHNICAL*

LEADERSHIP LEADERSHIP

CONSENSUS BUILDING • Regional Priorities• Process, Goals, Outcomes

METRIC IDENTIFICATION & SELECTION

COMMUNICATIONADOPTION & UTILIZATION

JANUARY JULY DECEMBER

*demographic, marketing, forecasting and other specific disciplines of expertise

We begin by engaging leaders to build consensus around the categories for the regional dashboard.

Technical expertise is phased in as the conversation turns to choosing specific metrics.

PRELIMINARY

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Process: Recognizing and Incorporating Existing Efforts

• This effort will leverage the consensus established by all previous and current efforts about what areas deserve measurement and tracking.

• There is no presumption that the new shared dashboard will replace any of the current data sets.

• Dialogue with many public, private and nonprofit organizations is a core element of this project.

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Project 2014 Timeline

DeliverablesDeliverables

▪ Create video of Bd lead▪ Collect ext. models/best practices▪ Identify internal models, resources

Business case for project Draft categories (5-6) Initial list of benchmark regions

ActivitiesActivities

Build team, hire facilitator Conduct sessions to introduce

project, collect input

January April May September October December

Phase 1CONVERGE

Phase 2DESIGN

Phase 3COMMUNICATE

LeadershipLeadership

TechnicalTechnical

MilestonesMilestones

▪ Refine input process, identify stakeholders

▪ Set working team w/roles

Metrics in each category Draft mock-up of dashboard Draft communications plan

PRO xx SP: Feb 5; March 6 PAC/Itasca/MetCncl/GMSPBd

Final dashboard Regional benchmark set Communications &

Maintenance plan

Hold tech. sessions on metrics Plan marketing/comms Share, collect input on draft

categories w/ metrics

PRO xx SP: May 7, August 6 PAC/Itasca/MetCncl/GMSPBd

PRO xx SP: Oct 22 PAC/Itasca/MetCncl/GMSPBd

Final review, revision of dashboard w/key groups

Design final dashboard brand

▪ Identify org. owner for data curating▪ Create roll out strategy w/timeline,

partners, resource plan

▪ Execute roll out strategy

▪ Refine metrics▪ Define process and resources to

collect, publish metrics

▪ Create first version of dashboard

IN PROCESS

Questions

• What are your ideas?

– Key stakeholder groups– Best practices from

other regions?



Urban Competitiveness Strategy

Activities (illustrative):• Identify target industries and

subsectors (examine spectrum of occupational needs)

• Develop differentiated strategies to attract investment and job creation in:– Areas of market challenge– TOD– Opportunity sites


Discussion• What are your reactions to the two projects?• Are there other ideas for how this group can

advance change in 2014?


Next Steps• Regional Success Measures:

– Share this update at February PRO meeting– Develop and share outreach strategy– Use March 6th workgroup meeting to gather

categories to group indicators • Urban Competitiveness Strategy:

– Project team will meet in February, come to 3/6 meeting with goals for discussion

Shared Prosperity Workgroup Kickoff Meeting February 5, 2014 1:30 – 3:00PM McKnight Foundation...

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