September 24 , 2017 This course has been developed by the Wisconsin - PowerPoint PPT Presentation

September 24 , 2017

This course has been developed by the Wisconsin Economic Development Association (WEDA), sponsored in part by Wisconsin Economic Development Corporation (WEDC), approved by the International Economic Development Council, (IEDC), and Taught by the Madison Region Economic Partnership (MadREP) Wisconsin Economic Development 2 Association www.weda.org

MadREP– Positioning this Region for the Local and Global Success • CEcD with 35+ years experience • Wisconsin Native • Local, Region, Chamber, State, I&E, International • (Sub) Urban and Rural • Northwestern and FSU Graduate

New Glarus First Impression Local Assets: • Successful past commercial / industrial land Economic Development • Highway Proximity (US Hwy 69) • Engaging Leadership • Proximity to Major MSA Markets and employment • City Team • Stable Employment with major • Tool Box--available employers (New Glarus Brewery, • Solid School District Sausage Manufactures, Jack Lincks) • Two commercial business • Close to Regional Retail Assets districts (CBD and Hwy Corridor) • Historical Swiss Village/Heritage • Bedroom community New Glarus Woods State Park • • Parks, Greenspace, and Natural • Edelweiss Chalet Country Club Resources Wisconsin Economic Development 4 Association www.weda.org

Wisconsin Economic Development Association 5 www.weda.org

Now, tell me about you and your Economic Development Goals? Name Where you live/work? What specifically about economic development do you want to learn more about tonight? Wisconsin Economic Development Association www.weda.org 6

“Cho o se Yo ur Own Adve nture ” 1. Overview of the session 2. Economic Development Building Blocks 3. Confidentiality, open records, Ethics, etc. 4. Local Business Relationships 5. Toolbox & Public Resources 6. Facilitating Deals 7. Wrap up Wisconsin Economic Development Association 7 www.weda.org

Purpose 1. Forge a common language among local decision-makers and economic development community 2. Overcome “you don’t know what you don’t know” concerns across development issues 3. Provide local leaders with a base for making effective economic development decisions Wisconsin Economic Development Association 8 www.weda.org

Deliverables (outcome) Useful development knowledge—Basics of Economic Development • • Punch list of core things to think about—Loftier Goals and how to get started Clarity on the roles local leaders play—Same Page, Partnerships • • Practical tools for getting started—Strategic Doing and Not Planning • Best practices on matters you’ll encounter—Use your toolbox Let’s make sure there is a take away for everybody today. Wisconsin Economic Development Association 9 www.weda.org

Creating a Strong Economic Development Program BUIL DING BL OCKS T O E CONOMIC DE VE L OPME NT Wisconsin Economic Development Association 10 www.weda.org

Wisconsin Economic Development Association 11 www.weda.org

What is economic development? Wisconsin Economic Development Association 12 www.weda.org

--I nspire Ma diso n Re g io n --“1/ 3 o f wo rkfo rc e in 2027 will b e une mplo ya b le ” --Une mplo yme nt a nd unde re mplo yme nt --www.jo b sinro c kc o unty.c o m --Wa g e s a nd skills ve rsus b o die s Wisconsin Economic Development Association 13 www.weda.org

De ve lo pme nt Stra te g ie s—E c o n De v’ t Tactics Tools Issues Business Retention Business Visitation Salesforce/ ExporTech Retention or & Expansion Economic Gardening Incentives / Gold Growth Exports Shovel / Ind. Clusters Business Attraction Fam Tours / Call Trips Website / Cert Sites Targets/Sectors Trade Shows / FDI Incentives / Data Partners Entrepreneurship / Business Accelerator Local Fund/VC Angels Resource Start-Up’s Youth / “Spaces” QNBV Tax Credits Intensive Workforce Custom Training Inspire / Fast Fwd Skills Gap Development Recruitment / Skills Tech College / H.S. Brain Drain Community Planning & Zoning Fast Track Permitting Protect and Development CBD / Bus Corridors Turn Key / Housing Enhance Real Estate Business Parks Market Risk / Certified Sites Development Res. Subdivisions Partnerships LocateinWisconsin Re-Development Brownfield Program EPA/State Grants Liability Wisconsin Economic Development Association 14 www.weda.orgL

Cre a ting a L o c a l De ve lo pme nt Pla n— Stra te g ic DOI NG Pick One • Business park or Leverage Value Priorities & spec buildings Proposition Goals Assets • Downtown Infill / Facades and (Re) development Align • Density in Housing Budget People Resources by Type, location, price point • Education system Deploy and trained talent Projects Initiatives • Entrepreneurship Resources Ecosystem • CDA, BID, Main Street or Chamber Measure Dashboard Outcomes Programming Results • Export or FDI

Wisconsin Economic Development Association 16 www.weda.org

Str ate gie s – Community E ngage me nt How is the Village Boar d e ngaging the c ommunity for busine ss de ve lopme nt? What tools or par tne r s ar e missing to make the se pr ior itie s happe n? How patie nt ar e you for the r ight de ve lopme nt? How ar e you and your e ntr e pr e ne ur s c onne c te d? Wisconsin Economic Development Association 17 www.weda.org

Entrepreneurial Ecosystem: Unique Madison Region Resources Get to Know - Integrate

Madison Region Economic Partnership (MadREP)

Innovation & Entrepreneurship Physical Space Mentorship Capital Connections

Physical Space → Create financial and operational sustainability for physical innovative spaces • Support places like Sector67, Whitewater Makerspace, 100State, Portage Enterprise Center, StartingBlock, Janesville Innovation Center, Wisconsin Innovation Kitchen, Plain Tech Center, FEED Kitchen, Coworking Spaces, and Monroe Planned Incubator

Mentorship → Expansion of MERLIN Mentor Program throughout the region → Partnership with Janesville Innovation Center to broaden access in Rock County → SCORE → SBDC → Gener8tor and gbeta → MadREP Extended Partnerships

Capital → Increase opportunities to access capital necessary to successful start-up • Use Partners to provide technical assistance in generating investment grade documents, developing market valuation and business plans, and performing investor due diligence • Partners—public and private sector • QNBV—OneEvent Technologies, Mt. Horeb

Tracking our Growth of Wisconsin’s Qualified New 60% Business Ventures are from Madison Region Wisconsin Economic Development Corporation, 2014

Connections → Web Portal that connects entrepreneurs with resources → www.madisonregion.org → Click on "start your business” → I&E Steering Committee → Capital Entrepreneurs → ForwardFest 2017 and beyond → M+DEV Conference

Build Your Local Talent Pool— Plymouth Case Study

Is your community connected? Janesville Whitewater Innovation Sector67 Makerspace Center Wisconsin Portage Whitewater Investment Enterprise Innovation gener8tor Partners Center Center Center for 4490 Capital Technology 100state Ventures Entrepreneurs Commercial- ization Wisconsin Brightstar ACE Angel BioForward Network State VC FEED WWBIC Madi Legislation Kitchen MG&E Xconomy Governor’s D2P Innovation Wisconsin Business Center Plan Contest UW Office University Forward Starting of Research Technology Block Corporate Park Festival Madison Relations UW Law & Wisconsin WEDC I&E MERLIN Entrepreneur Innovation Division Mentors Clinic Network

Taking a Principled Approach E T HICS & CONF IDE NT IAL IT Y Wisconsin Economic Development Association 28 www.weda.org

Co nflic t o f I nte re st • IEDC’s language related to conflict of interest: “Professional economic developers will hold themselves free of any interest , influence, or relationship in respect to any professional activity when dealing with clients which could impair professional judgment or objectivity or which in the reasonable view of the observer, has that effect.” Wisconsin Economic Development Association 29 www.weda.org

Co mmo n I ssue s • Confidentiality with respect to business deals in process. • Transparency and open communication on all other activities (internet impact) • Avoiding conflict of interest • Cooperation with peers in surrounding communities ( no poaching businesses ) • Non-discriminatory behavior Wisconsin Economic Development Association 30 www.weda.org

Co nfide ntia lity • Confidentiality is key to a development deal. • More deals have been sabotaged unnecessarily by a breach of confidentiality. • Sharing confidential details could cause damage to the prospect & the community’s reputation. • ED professionals are trained in sharing what they can, when they can and with whom they can. • Transparency…is about the right information at the right time…otherwise it’s just gossip. Wisconsin Economic Development Association 31 www.weda.org