HC HCED EDA A EO EOPT PT Ec Econ onomi omic c De Devel - - PowerPoint PPT Presentation

Lawren ence ce Twel ele, e, CEO

February 28, 2018

HC HCED EDA A EO EOPT PT Ec Econ

• nomi
• mic

c De Devel elop

• pme

ment nt Sub ubcomm commit ittee ee Pr Prese esenta ntati tion

• n

Insights from HCEDA’s Ne New Str trat ategic egic Pl Plan an

ASSETS

• High Income
• Highly Educated
• High Quality of Life

Key y Fi Find ndings ings

Str trong

• ng Per

erformance

• rmance Faces

ces Threats eats

Source: HCEDA Strategic Plan 2016

THREATS

• Talent flight to

Cities

• Lack of transit
• Reliance on

Federal $$

ASSETS

• High Income
• Highly Educated
• High Quality of Life

Key y Fi Find ndings ings

Str trong

• ng Per

erformance

• rmance Faces

ces Threats eats

Source: HCEDA Strategic Plan 2016

Di Disru sruption ption in Ec Econ

• nomic
• mic 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

• f Cen

entr tral al In Inno novat ation ion An Anch chor

• r

➢ 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

• f Cen

entr tral al In Inno novat ation ion An Anch chor

• r

➢ 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

• res

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

• res

es ar are tal e talent ent ma magne nets ts

➢ Jobs s are following ing this is talen ent t migrati gration

• n to

downtowns ns

Source: HCEDA Strategic Plan 2016

.1% 1.2% .5% .-1%

Periphery City center City Center Periphery

1.2% .5% .1%

• .1%

Poo

• or Tran

ansi sit t Con

• nnec

necti tivit vity y is is a Li a Liab abil ilit ity

➢ Cross

• ss-coun
• unty

ty transit ansit net etwor

• rks

ks are weak

Source: HCEDA Strategic Plan 2016

Poo

• or Tran

ansi sit t Con

• nnec

necti tivit vity y is is a Li a Liab abil ilit ity

➢ Transit ansit is a key work rk priori

• rity

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

• utsi

side de of Nor

• rth

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

➢ Pover erty ty has grown signi gnific icantly antly in the suburb urbs

Baltimore imore metr etropolitan

• politan region

ion

Number of Residents

Source: HCEDA Strategic Plan 2016

What will drive Howard County’s Ec Economic

• nomic 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 1st 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

➢ 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

• mmerci

cial l hubs s lik ike e Mapl ple La e Lawn

Drivers of Howard County’s Growth: Interna ernal l Gr Growth wth

➢ Rep eposit ition ion Columbi umbia Gat ateway y to bec ecome

• me an

an Innovati tion

• n Dis

istri rict ct ➢ At over er 1,00 1,000 0 acres es Gateway y is is on

• ne of

e of the e bes est loca cati tions

• ns 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

• nment

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

• n 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

• cat

ated ed MCE E to Gateway y could play y a key role e in fostering ering collaboration aboration

Drivers of Howard County’s Growth: Inno novation ation Fuel ueled ed Gr Growth wth

Qu Ques estio tions ns?