Post on 18-Dec-2015
by Mihailo TemaliPublished by Fieldstone Alliance
Chapter 1: Community Economic Development—An Overview
The Community The Community Economic Development Economic Development HandbookHandbook
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
What is Community Economic Development?
“ Community economic development is connecting the dots between people, land and money.”
“ It’s building on your local economy. It’s both assisting businesses to grow and residents to improve their income.”
Ted WysockiC.E.O. of Local Economic & Employment Development Council
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Four Pivot Points of any Neighborhood Economy
Condition of commercial district
Entrepreneurs starting and maintaining small businesses
Local residents finding and keeping good jobs
Neighborhood businesses creating good jobs
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Two Goals of Community Economic Development
Goal One: Improve the economic situation of local residents and local businesses
• Residents: Disposable income and assets
• Local businesses: Profitability and growth
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Two Goals of Community Economic Development
Goal Two: Enhance the community’s quality of life
• Appearance
• Safety
• Gathering places
• Sense of positive momentum
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point One: The Commercial District
A neighborhood’s commercial district…
• The “face of the community”
• Perceptions = reality
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point Two: Developing Microbusinesses
Microbusinesses…
• Fewer than 5 employees
• Most low income neighborhoods lack opportunities and assistance
• Microbusinesses can:• Fill vacant storefronts• Create local jobs• Bring positive momentum
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point Three: Developing the Community Workforce
Single largest economic problem…
• Unemployed or underemployed residents
• Needs:• Training• Job Placement
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point Four: Growing Good Neighborhood Jobs
Growing businesses need workers!
Good neighborhood jobs…
• Obtainable with various levels of experience
• Pay above minimum wage
• Benefits, career advancement opportunities
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
A Four Step Process to Community Economic Development
1. Assess current conditions
2. Create a vision and strategic plan
3. Implement your plan
4. Evaluate and improve your work
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 1
Assess current conditions
• Answer: • “Where are we now?”• Assess organization’s capacity
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 2
Create a vision and strategic plan
• Answer:• “What do we want our community to look like
in five or ten years?”• Lay out one- and three-year goals
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 3
Implement your plan
• “Plan your work…work your plan.”
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 4
Evaluate and improve your work
• Monitor your outcomes
• You’re always learning…conditions are constantly changing
Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Tips for Making It All Work…
Take one pivot point at a time
Give it time
Celebrate successes!