Coachella Valley Economic Blueprint Steering Committee Meeting
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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.