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Reg egio ional nal St Stra rate tegie gies s fo for r Eco conomi nomic c De Devel elopme ment nt
SLIDE 2 MarksNelson is dedicated to helping our clients, the firm, our professionals and the community to Move Forward.
1968
- Number of Employees: 174
- Location Strategies
Practice:
Meet
❑Community Consulting ❑Corporate Site Selection ❑Strategic Planning
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Why Work Together as a Region?
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Reason #1: Businesses Vie iew You as a Region
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Reason #2: Successes & Failures Are Shared Regionally
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Reason #3: Competition for Businesses is is In Intense
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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
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Merits of f Strategic Pla lanning
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Summary Background SWOT Vision Goals Measurable Objectives Specific Initiatives Evaluation Metrics
What is is a Regional St Strategic Pla lan?
Str Strategic Di Direction & Action Plan lan
SLIDE 11 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
lly evolv lving ✓ Action-in inducin ing ✓ Bro roadly ac accessib ible
SLIDE 12 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.
ic Develo lopment)
SLIDE 13 A Tool for Id Identify fying Pri riority Is Issues
Exam ample le: Cou
eal l Estate Exam ample le: City ity w/o Lab Labor For
Iden Identify fying thr threats WEAKENS the them Iden Identify fying op
rtunit ities STRENGTHENS the them
STRENGTHS WEAKNESSES OPPORTUNITIES Pursue Strengths align with
Address weaknesses if possible to open opportunity THREATS Identify options to utilize strengths to minimize threats Vulnerability Establish a defensive strategy
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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?
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A Tool for Making Resource All llocation Decisions
Str Strategic Dir Direction & Action Plan lan
Vision Goals Measurable Objectives Specific Initiatives Evaluation Metrics
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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
SLIDE 17 “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.”
ichard Rumelt lt (“Good Strategy, Bad Strategy”)
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Effective Str trategies
SLIDE 19 Key In Industry ry Targeting & Clu lusters
ires awareness of f exis xistin ing ind industry ry strengths
ility to prio riorit itiz ize use se of f sc scarce reso sources
ansas City City a a great example le
SLIDE 20 Workforce Training Partnerships
le: Rural l work rkforce train inin ing with ith no budget
SLIDE 21 Focus on Entrepreneurship
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
57 329
53 140 41 73
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
95 29 128
120
74 7
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
3 4
29 6
73
10 50
25
- 1200
- 1000
- 800
- 600
- 400
- 200
200 400 600 800
Jobs Gained/Lost/Net
Confidential County Jobs by Type of Establishment
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Opportunity Zones
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Public-Private Collaboration
SLIDE 24 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
be com
lacent ab about its its fut future. We’ve all seen what can happen to com
ies tha that rel rely on
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
ember of
a Lo Local Economic ic De Development Eff ffort rt
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Josh Beck
Partner, Location Strategies MarksNelson, LLC 816-743-7700 jbeck@mnlocationstrategies.com www.marksnelsoncpa.com
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SLIDE 27 What is is Economic Development?
Goods & Services $$$ $
Basic Concept
Prim rimary ry Businesses
Loc Local l Mark rket External Mark rket
SLIDE 28 New Bu Busin iness Attraction Exis xistin ing Bu Busin ines ess De Developmen ent Bu Busin ines ess Cr Crea eation
