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Coachella Valley Economic Blueprint Steering Committee Meeting

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Coachella Valley Economic Blueprint Steering Committee Meeting Powered By Docstoc
					Coachella Valley Economic Blueprint
Steering Committee Meeting

April 22, 2009

Steering Committee Meeting

•  J. Mac Holladay, CEO, CCE, PCED
•  Alex Pearlstein, Senior Project Manager
Today’s Meeting

•  Best Practices Orientation
•  Top Program Examples
•  Outline of Economic Blueprint Strategy
•  Next Steps
Project Overview
Best Practices Orientation
“We are going from hunter-gatherers to
             gardeners.”

                                Dr. David Kolzow
                                Team Kolzow, Inc.
The New and Old Economies

                       Issue                                                  Old                                 New
                     Markets                                                Stable                              Dynamic
             Scope of competition                                          National                              Global
              Organizational form                                        Hierarchical                          Networked
              Production system                                      Mass production                       Flexible production
           Key factor of production                                     Capital/labor                       Innovation/ideas
            Key technology driver                                      Mechanization                           Digitization
           Competitive advantage                                    Economies of scale                      Innovation/quality
           Relations between firms                                       Go it alone                          Collaborative
                       Skills                                            Job-specific                      Broad and changing
                    Workforce                                        Organization Man                        “Intrapreneur”
            Nature of employment                                            Secure                                Risky


Source: 2007 State New Economy Index, by Kauffman Foundation and the Information Technology & Innovation
Foundation
What Do Successful Communities Have In Common?




Source: What Do Successful Communities Have in Common? Market Street Services, 2009
7 Guidelines for Local Economic Development

1.         Know your economic function in the global economy

2.         Create a skilled workforce

3.         Invest in infrastructure for innovation

4.         Create a great quality of life

5.         Foster an innovative business climate

6.         Reinvent and digitize government

7.         Take regional governance seriously

SOURCE: Progressive Policy Institute
Economic Development Strategy

    Existing business and industry services
    Enterprise/Small business development
    Tourism/Film development/Product development
    Downtown/Main street/Historic preservation
    International/Trade/Export
    Quality recruitment/Commercial/Industrial
    Sports/Recreation/Culture
    Minority business development
Elements of a Best-Practice Program

•  Public-private funding and oversight
    –  Sufficiently funded and staffed
•  Targeted
    –  Developed through the “three legs of the stool”
•  Strong local brand
    –  External and internal focus
•  Diverse program areas
    –  ED, workforce, quality of life, public policy, advocacy, marketing,
       research
•  Strong relationships with key partners
    –  Consensus-builder, convener, facilitator, lobbyist
    –  Can link to and leverage partners’ programs
The Valley Economic Alliance

           San Fernando Valley
                                                  Quarterly Newsletter




2007 population:       2006 race & ethnicity:
1.8 million
                       White              42.7%
                       Hispanic
2006 labor force:                 41.6%
888,850                Asian              10%
                       Black or A-A       3.6%
                       Other              3.0%
 The Valley Economic Alliance

Livable Community Initiative
                                    Marketing Initiative includes:
   assists with:
                                    •    Valley.net website
•    Transit solutions
                                    •    Valley publications, including
•    Land use
                                         'Views' and 'Visions'
•    Infrastructure                 •    Valley Visitors Bureau
•    Environment and conservation
                                    •    Valley DVDs and videos
•    Architecture                   •    Street pole banners
•    Arts and culture               •    "Stars of The Valley" Gala and
•    Public opinion surveys              community events
•    Valley statistical data        •    Investor/stakeholders logo ads
•    Community indicators report    •    Media outreach campaign
•    Valley Virtual Library
•    Public policy roundtables
•    Valley Green Team
The Valley Economic Alliance

Economic Development Initiative   Workforce Investment Initiative
  assists with:                     assists with:
•    Permits                      •    Identifying employment
•    Expansion                         qualification needs
•    Financing                    •    Communicating educational needs
                                       to schools, universities, training
•    Site selection
                                       centers
•    Tax credits and incentives
                                  •    Creating customized employment
•    Economic data                     programs
•    Recruitment                  •    Promoting educational excellence
•    Employee training            •    Job fairs
•    Global opportunities         •    Educational summits
Montgomery, Alabama

•  Montgomery Area Chamber of Commerce
  – Fully-integrated economic development organization
    with work focused in the following areas:
    › Recruitment and expansion of existing businesses
    › Development /nurturing of entrepreneurial and minority
      businesses
    › Tourism and convention development
    › Military and federal affairs
  – Champions community development issues like
    governmental affairs, public education and leadership
    development
Montgomery, Alabama

2009 Chamber Business Plan

•  GOAL I: Champion public education and build a
 competitive workforce

•  GOAL II: Strengthen the regional economy

•  GOAL III: Transform Montgomery’s image

•  GOAL IV: Embrace diversity and enhance leadership
 capacity
Cornerstone Regional Development
Partnership
                •  Jacksonville and its six surrounding
                   counties are known as Florida's First
                   Coast
                    •  With 1.5 million people, region is
                       40th largest in U.S.

                •  First Coast has two deep-water ports

                •  Sixteen of every hundred Jacksonville-
                   area residents are connected with the
                   Navy
                    •  Every year, 80 percent of retiring
                       mission-oriented Navy personnel
                       choose to stay in Jacksonville and
                       Northeast Florida
Cornerstone Regional Development
Partnership
•  Six primary focus areas support expanding and relocating
  businesses:
   1.    A more complete public/private partnership
   2.    Regional collaboration
   3.    A research-based approach to economic development
   4.    A dynamic marketing plan
   5.    Aggressive outreach to achieve results
   6.    High-wage focused incentives
•  Externally, Cornerstone is a marketing, prospecting and international
   trade partnership
•  Internally, Cornerstone’s focus includes the expansion of existing
   business and the development of small business
     –  Each county handles its own existing and small business
        development independently, but in a coordinated way
Kansas City, Missouri / Kansas

•  Kansas City Area Development Council
    –  Private, non-profit organization representing the economic
       interests of the two-state, 18-county Greater KC region
    –  Program areas include:
      › Brand the region as one product to stimulate economic growth
      › Enhance awareness of the metro’s assets
      › Promote the region as the business location of choice
      › Position the region competitively for the retention, expansion and
        attraction of jobs and investment
      › Help outside companies source the best KC location for their needs
        and facilitate final negotiations with its selected community
Martinsville-Henry County, Virginia

•  Population 75,000
    –  Decline of traditional textiles manufacturing
    –  Consistently had the highest unemployment rate in the state
•  Transformed their local ED structure
    –  Merged city and county economic development offices and
       dedicated combined public monies to new 501(c)3 Martinsville-
       Henry County Economic Development Corporation
    –  Private-sector match from local companies, also foundation
       contributions
    –  In total, more than doubled their annual economic and
       community development budget to $2 million
    –  Created a BRE program, tourism office and small business
       development office
Tucson, Arizona

•  Regional dynamics
    –  2007 regional population = 967,089
    –  Home to the University of Arizona – 37,217 students
      › Produces more than $530 million in annual research

•  TREO (Tucson Regional Economic Opportunities) –
  regional ED organization – formed in 2005
   –  Implementing a holistic Economic Blueprint strategy
Albuquerque, New Mexico

•  Regional dynamics
   –  2008 regional population = 840,737
     › Four county region
  –  Home to the University of New Mexico – 26,340 students
     › Year 2007 research total = $177,429,229


•  Albuquerque Economic Development (AED) – regional
 ED organization – formed in 1960
  –  Sole focus is on external marketing and recruitment
Economic Development Funding –
Examples
Economic Blueprint Synopsis
Competitive Assessment

Challenges
•  High concentrations of employment in lower-paying sectors strongly tied to
   state and national expansions and recessions
•  Lower educational attainment, higher poverty percentages, and higher
   property crime rates
•  A more diverse and lower-income K-12 student population that requires
   additional resources to effectively prepare for college and careers
•  A business climate that lacks competitive economic development marketing,
   recruitment, retention and regulatory activities

Opportunities
•  An entrepreneurial population adept at starting/growing businesses
•  A strong “potential” labor force of semi-retired and retired individuals
•  A truly dynamic and attractive quality of life
•  Higher-education institutions with strong growth potential
Target Business Analysis

•  Recommended Targets:

 – Healthcare and Life Sciences

 – Supply Chain Management/Logistics

 – Clean Technology/Energy

 – Creative Arts and Design
Marketing Assessment

•  Collateral materials used by organizations that promote Coachella
  Valley are voluminous and have no consistency
•  Specifically, CVEP’s marketing materials are well designed and
  attractive, but could be more finely focused on the sales points its
  target audiences need to see
•  CVEP’s brand identity needs to be reviewed and refreshed

•  A complete redesign of CVEP’s website is needed to support the
  future marketing campaign
•  Continue to co-marketing with other organizations in the region to
  extend the reach of CVEP’s program
•  CVEP has an opportunity to start a new marketing campaign from
  scratch
Economic Blueprint Outline

•  Economic Diversification


•  Workforce Excellence


•  Regionalism


•  Quality of Place
Economic Diversification

•  Objective 1: Ensure existing Coachella Valley
 businesses are retained and expanded.

•  Objective 2: Provide entrepreneurs and small business
 persons the resources necessary to succeed.

•  Objective 3: Effectively develop the Coachella Valley’s
 identified target sectors.

•  Objective 4: Provide comprehensive data collection and
 analysis services for regional stakeholder groups.
Workforce Excellence

•  Objective 1: Ensure Coachella Valley school districts
 effectively prepare students for college and the
 workplace.

•  Objective 2: Best position the Coachella Valley’s higher
 educational institutions to develop the local workforce
 and spur economic growth.

•  Objective 3: Ensure that workforce development
 organizations provide maximum benefit to Coachella
 Valley adults.
Regionalism

•  Objective 1: Work to educate regional stakeholders on
 the dynamics of competitiveness and growth.

•  Objective 2: Build the capacity to advocate for issues of
 importance to Coachella Valley constituencies.

•  Objective 3: Better link Coachella Valley communities
 through activities that foster regional identity and
 relationship-building.
Quality of Place

•  Objective 1: Ensure that best-practice development
 patterns are advocated for and supported.

•  Objective 2: Support the development of quality housing
 options for residents of all ages and incomes.

•  Objective 3: Engage in partnerships to ensure
 Coachella Valley communities are safe and provide
 effective services for residents-in-need.

•  Objective 4: Continue to enhance the Coachella
 Valley’s capacity in arts, culture and recreation
 amenities.
Next Steps
Next Steps
•  Meeting: Presentation of full draft of the Economic Blueprint and
  discussion of Best Practice Communities
   –  Thursday, May 21, 2009, 4 p.m. – 6 p.m.

•  Meeting: Presentation of final Blueprint and Draft Implementation
  Plan
   –  Wednesday, June 24, 2009, 4 p.m. – 6 p.m.

•  Meeting: Presentation of Final Implementation Plan and Process
  Wrap-up
   –  Monday, July 20, 2009, 4 p.m. – 6 p.m.


•  Public Roll-out of Blueprint
   –  October
Thank you.