Reg egio ional nal St Stra rate tegie gies s fo for r Eco conomi nomic c De Devel elopme ment nt
Meet • Year Established: 1968 • Number of Employees: 174 • Location Strategies ❑ Community Consulting Practice: ❑ Corporate Site MarksNelson is dedicated to helping our Selection clients, the firm, our professionals and the community to Move Forward . ❑ Strategic Planning
Why Work Together as a Region?
Reason #1: Businesses Vie iew You as a Region
Reason #2: Successes & Failures Are Shared Regionally
Reason #3: Competition for Businesses is is In Intense
Why Work Together as a Region? ✓ Businesses view you as REGIONS ✓ Success/failure is shared as REGIONS ✓ Pooling resources as REGIONS is necessary in the face of intense competition (Just to name a few!) Economic development efforts should be REGIONAL
Merits of f Strategic Pla lanning
What is is a Regional St Strategic Pla lan? Summary Background SWOT Vision Str Strategic Di Direction & Action Plan lan Goals Measurable Objectives Specific Initiatives Evaluation Metrics
What is is a Regional Str trategic Pla lan? A tool for… ✓ Cla lari rify fyin ing di dire rection ✓ Tac acklin ling BIG IG go goals by y al alig igni ning man any sm smal alle ler r eff efforts ✓ Mak akin ing res resourc rce al allo location dec decis isions It is… ✓ Con ontinuall lly evolv lving ✓ Action-in inducin ing ✓ Bro roadly ac accessib ible
A Tool for Clarify fying Dir irection Fir irst th thin ings fir first! Example le: Th The Co Confu fused Co Company (“To Grow or Not to Grow?”) Example le: Th The Unin intentio ional l Co Competit itio ion (C (City ity vs. s. Economic ic Develo lopment)
A Tool for Id Identify fying Pri riority Is Issues STRENGTHS WEAKNESSES Pursue Address weaknesses if possible OPPORTUNITIES Strengths align with to open opportunity opportunity Identify options to utilize Vulnerability THREATS strengths to minimize threats Establish a defensive strategy Exam ample le: Cou ounty w/o Rea eal l Estate Exam ample le: City ity w/o Lab Labor For orce Identify Iden fying thr threats WEAKENS the them Identify Iden fying op opport rtunit ities STRENGTHENS the them
A Tool for Tackling BIG IG Goals with Smaller Efforts Example le: Where did id th this is housin ing forum come from? Example le: A hig igh sch school l assembly ly, rea eall lly?
A Tool for Making Resource All llocation Decisions Vision Str Strategic Dir Direction & Action Plan lan Goals Measurable Objectives Specific Initiatives Evaluation Metrics
What it it is is NOT A len lengthy book coll llectin ing dust on a sh shelf lf A coll llectio ion of f iso isola lated components A once every ry fiv five years process A report prepared by “someone else” Well ll craft fted but overly rly comple lex lan language void id of real l meanin ing
“A hallmark of true expertise and insight is making a comple lex su subje ject understandable le. . A hallm llmark of f medio iocrit ity and bad str trategy is is unnecessary comple lexit ity – a flu lurry ry of flu luff masking an absence of substance.” - Ric ichard Rumelt lt (“Good Strategy, Bad Strategy”)
Effective Str trategies
Key In Industry ry Targeting & Clu lusters • Requir ires awareness of f exis xistin ing ind industry ry strengths • Abilit ility to prio riorit itiz ize use se of f sc scarce reso sources • Kan ansas City City a a great example le
Workforce Training Partnerships • Example le: Rural l work rkforce train inin ing with ith no budget
Focus on Entrepreneurship Confidential County Jobs by Type of Establishment 800 600 Jobs Gained/Lost/Net 400 200 0 -200 -400 -600 -800 -1000 -1200 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 Opened 649 219 250 160 312 607 188 95 248 445 258 170 177 167 Closed -298 -421 -316 -344 -255 -278 -972 -326 -355 -392 -118 -129 -104 -614 Net Opened 351 -202 -66 -184 57 329 -784 -231 -107 53 140 41 73 -447 Expanded 299 275 118 310 233 255 94 234 249 169 210 141 46 116 Contracted -155 -260 -197 -215 -204 -127 -350 -114 -382 -196 -136 -134 -77 -74 Net Expanded 144 15 -79 95 29 128 -256 120 -133 -27 74 7 -31 42 Move In 33 42 6 16 53 90 48 32 96 20 15 56 26 37 Move Out -104 -113 -3 -12 -560 -61 -42 -47 -23 -75 -5 -6 -32 -12 Net Move In -71 -71 3 4 -507 29 6 -15 73 -55 10 50 -6 25
Opportunity Zones
Public-Private Collaboration
Public-Private Collaboration “I have way too much invested, bo both pers personally ly an and d pro profess ssionall lly, in in this this com ommunity to be be com ompla lacent ab about its its fut future. We’ve all seen what can happen to com ommunitie ies tha that rel rely on on or organic ic gro growth an and d ho hope for r po positiv ive tr trendlin lines. I, for one, have too much to lose.” Lo Local Bus usin iness Owner r & Fou ounding Mem ember of of a a Lo Local Economic ic De Development Eff ffort rt
Josh Beck Partner, Location Strategies MarksNelson, LLC 816-743-7700 jbeck@mnlocationstrategies.com www.marksnelsoncpa.com
What is is Economic Development? Goods & Services External Mark rket $$$ $ Loc Local l Mark rket Basic Concept of Prim rimary ry Businesses
Exis xistin ing New Bu Busin iness Bu Busin ines ess Bu Busin ines ess Attraction Cr Crea eation Developmen De ent
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