HC HCED EDA A EO EOPT PT Ec Econ onomi omic c De Devel elop opme ment nt Sub ubcomm commit ittee ee Pr Prese esenta ntati tion on Lawren ence ce Twel ele, e, CEO February 28, 2018
Insights from HCEDA’s Ne New Str trat ategic egic Pl Plan an
Key y Fi Find ndings ings Str trong ong Per erformance ormance Faces ces Threats eats ASSETS High Income • • Highly Educated • High Quality of Life Source: HCEDA Strategic Plan 2016
Key y Fi Find ndings ings Str trong ong Per erformance ormance Faces ces Threats eats ASSETS THREATS • High Income • Talent flight to • Highly Educated Cities • High Quality of Life • Lack of transit • Reliance on Federal $$ Source: HCEDA Strategic Plan 2016
Di Disru sruption ption in Ec Econ onomic omic De Development elopment “ Attraction Myth” Decline of Big Wins & Source: HCEDA Strategic Plan 2016
Mid iddl dle Mark e Market t is is t the S e Swee eet Sp t Spot Source: HCEDA Strategic Plan 2016
Howard County’s La Lack ck of of Cen entr tral al In Inno novat ation ion An Anch chor or ➢ The region ion suffer ers s from m low rates es of bu busin ines ess s star art-ups ups Source: HCEDA Strategic Plan 2016
Howard County’s La Lack ck of of Cen entr tral al In Inno novat ation ion An Anch chor or ➢ There’s a significant focus fosteri ering g star art-ups ups across ss the countr try y and regio gion. n. Source: HCEDA Strategic Plan 2016
Urb Urban an Cor ores es ar are tal e talent ent ma magne nets ts ➢ Youn ung, g, well-edu educat ated d worker ers s are moving ing to cities ies Source: HCEDA Strategic Plan 2016
Urb Urban an Cor ores es ar are tal e talent ent ma magne nets ts 1.2% City center City Center ➢ Jobs s are following ing this is Periphery Periphery 1.2% talen ent t migrati gration on to .5% .5% downtowns ns .1% .1% .-1% -.1% Source: HCEDA Strategic Plan 2016
Poo oor Tran ansi sit t Con onnec necti tivit vity y is is a Li a Liab abil ilit ity ➢ Cross oss-coun ounty ty transit ansit net etwor orks ks are weak Source: HCEDA Strategic Plan 2016
Poo oor Tran ansi sit t Con onnec necti tivit vity y is is a Li a Liab abil ilit ity ➢ Transit ansit is a key work rk priori ority ty for young g talen ent t Source: HCEDA Strategic Plan 2016
Gl Global bal en enga gagem gement ent is s a local cal impe perativ rative ➢ Approx. x. 80 % of growth wth will be outside side the e US betw etwee een 2015 5 and 2020, 0, ➢ The e middle ddle class s is expan andin ding g significan cantl tly y outsi side de of Nor orth th Amer erica ica Source: HCEDA Strategic Plan 2016
Ec Econom nomic ic Ga Gains ins Have e not t Be Been en Shared red ➢ Betw etween en 2007 7 and 2014, , wages es fell ll for r every segment gment excep cept t the e top 5% Source: HCEDA Strategic Plan 2016
Ec Econom nomic ic Ga Gains ins Have e not t Be Been en Shared red Number of Residents ➢ Pover erty ty has grown signi gnific icantly antly in the suburb urbs Baltimore imore metr etropolitan opolitan region ion Source: HCEDA Strategic Plan 2016
What will drive Howard County’s Ec Economic onomic Gr Growth? wth? 1. 1.Interna ernal l Growth wth of Ou Our Ow Own Companies panies 2. 2.Growth wth Fueled eled by Innovation ation
Drivers of Howard County’s Economic Future: Int nter erna nal Gr Growth th Howard County’s Middle Market ➢ Approximately 1,150 scale-up and middle market businesses ➢ Focus on professional services and other trade (manufacturing, wholesale trade, information, and finance) industries ➢ Businesses with 10-100 employees Source: HCEDA Strategic Plan 2016
Drivers of Howard County’s Economic Future: Int nter erna nal Gr Growth th ➢ Foster r growt wth h in in the Cyber r Indu dustr try ➢ Howard County ranks 1 st in MD for concentration of IT jobs ➢ Stay true to our Farms ➢ Strategica icall lly y Fund S d Small l Busin iness Growt wth ➢ Agg ggressiv ssively ly supp pport gl globa bal l trade de in init itia iativ ives at a l local l level Source: StatsAmerica, 2010; EAGB, 2014
Drivers of Howard County’s Growth: Interna ernal l Gr Growth wth ➢ Contin inue ue to supp pport t & & mark rket et the e gr growth wth of Downt ntown wn Columbia umbia and o d other er comme ommerci cial l hubs s lik ike e Mapl ple La e Lawn
Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth ➢ Rep eposit ition ion Columbi umbia Gat ateway y to bec ecome ome an an Innovati tion on Dis istri rict ct ➢ At over er 1,00 1,000 0 acres es Gateway y is is on one of e of the e bes est loca cati tions ons in in the e Mid id-Atla lanti tic ➢ 60% % of the e sit ite is e is ope pen spa pace e and 2 d 20% % is is pa park rkin ing
Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth Combin mbine e new uses s with h wired ed, , compa pact ct develo lopm pment nt in a pedest stria ian and bike e frien endly dly environment onment
Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth Creat eate e formal mal and inform rmal al social al connections ctions
Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth Creat eate e an innovati ation on hub fueled ed by collaboration aboration with h existing isting instituti titutions ns and companies anies
Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth ➢ A reloc ocat ated ed MCE E to Gateway y could play y a key role e in fostering ering collaboration aboration
Qu Ques estio tions ns?
More recommend
