Broadband Economic Development by Bill Coleman
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Transcript of Broadband Economic Development by Bill Coleman
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Broadband and Economic Development
Global to Local
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Agenda
• Introduction• What the empirical studies show• Site selectors and broadband• Entrepreneurs and broadband• Local success stories
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What is Economic Development?
Joan Spero and Jeffrey Hart
Indiana University
“The process of raising the level of prosperity and material living in a
society through increasing the productivity and efficiency of its
economy.”
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Some say “Build it and they will come.”
Who is they, anyhow?
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Broadband Vitality Components
ProvidersCommunity Members
Robust Network Subscribers
Technology Service Offerings
Sophisticated Use
Each has an important impact on economic development!
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Broadband and Economic Development
What the empirical studies show…
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MIT/Carnegie Mellon StudyLehr, Osorio, Gillett, SirbuJanuary 17, 2006• For the period between 1998 and 2002,
where broadband was available by 12/99, communities experienced more rapid growth in:– Employment– The number of businesses overall– The number of IT businesses
• These communities also had higher market rental rates.
• All data was at the zip code level.
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Brookings Institution StudyCrandall, Lehr and LitanJuly 2007
• For every 1% increase in state broadband penetration, employment will increase 0.2-0.3% per year.
• Employment in manufacturing, services (finance, education and health care) in positively related to broadband penetration.
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More Brookings
• Policy implications– Encourage competition among providers
to lower costs• Reform video franchising• Oppose net neutrality
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Broadband and Economic Development
What Site Selectors Think…
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Broadband Site Factors
• Broadband is an expected asset, not a competitive advantage– Direct fiber connections– Redundant networks– Competitive services– Reliability measures– Technical talent!!!
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Broadband and Economic Development
Entrepreneurial Development
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Broadband EntrepreneursFrom InfoWorld’s Greatest Web Moments• 1994 - Yahoo - created by college students• 1995 - e-Bay – broken laser pointer 1st item• 1997 - Craig’s List – emerged from a list serv• 1995 – Amazon – first office was a garage• 1998- Google – created by college students
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Would you lend money to this girl?
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Whateverlife.com
• Ashley Qualls, 17 year old entrepreneur • Web site has 2.4 M visitors per month• Site ranks 825 of 20.3 M sites• Sells designs for MySpace pages• Employs her mom and several friends• Borrowed $8 to start her company
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Attracting Entrepreneurs
• Quality of life– Means different things to different people
• Entrepreneurial culture and connections• Business support systems• Available broadband
– In town?– At the lake?– What about big broadband for power users?
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Broadband and Economic Development
Successful Local Strategies
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Helping Existing Businesses Grow…• Business technology assessments
– Todd County through MN Technology Inc.• Subsidizing web page development and
improvements– Cambridge
• Linking community businesses together through portals– New Ulm retailers– Mankato area manufacturers
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Entrepreneurial Development• Youth as web masters for business
– Five Small Towns
• E-commerce training– U of M Extension– MN Technology, Inc.– MNSCU
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Conclusions
• High level research and Main Street anecdotes demonstrate that broadband access and utilization increase business success
• Business prospects expect broadband services– Choice– Customer service– Redundancy– Technical talent
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Community Technology Initiatives Make A Critical
DifferenceIncrease knowledge, build a
tech savvy community brand & empower economic growth
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Bill ColemanCommunity Technology [email protected]
651-491-2551
Register today for the Blandin Broadband Conference! www.blandinfoundation.org