Metro Hartford Future!Capitol Region CEDS

MetroHartford Alliance BoardJune 13, 2018

The Opportunity

Build on existing momentum

Develop a bold, strategic action plan for creating a more competitive region

Catalyze broad, cross-sector partnerships and investment

Successful Regions Rebounded After Investing in Their Plans

● Around 2003 Austin lost approximately 36,000 jobs in 36 months. This catalyzed development of a private sector led plan called Opportunity Austin. They raised over $14M from private and local public sources to implement.

● In the late 80s, business leaders in Nashville came together to address decades of disinvestment and a negative image. By 1990 they created Partnership 2000. By 1994, all major goals had been exceeded, and $6.6 million in funding had been raised to continue the effort for another four years.

Successful Regions have Bold Visions, Tenacious Leadership, and a Broad Civic Infrastructure

● Creating the Denver International Airport took committed public and private support over 20 years and $4B. Today, it connects to Union Station via light rail, which has spurred $1B in private investment in the surrounding area.

● Duke University, the City of Durham, and their Chamber came together to form Downtown Durham, Inc., which led the renovation of American Tobacco; the commitment of public, private, and university partners to long-term leases was a key to making this happen.

● Nashville civic leaders and the Chamber created the Nashville Healthcare Council to spur the growth of that industry, which now comprises 500 companies and contributes $30B to the local economy.

What are We Building… More Than a Plan● Create a Vision for the Capitol Region that is rooted in the aspirations of residents

with an eye toward the future

● Conduct a Situational Assessment that focuses on strengths and opportunities

● Develop Goals that will allow the region to realize the vision and build on strengths

● Identify Game-changer Strategies - Identify the top three to five opportunities that the region must capture to enhance economic competitiveness

● Develop specific Actions to implement the vision and game changers

● Build the ongoing Capacity to implement

● Measure the impact of these game-changer strategies and adjust to stay on course

Advisory Committee — Represents the Region● Connecticut Technology Council -

Bruce Carlson● CCSU - Zulma Toro● UCONN - Mark

Overmyer-Velazquez● Goodwin College - Mark

Scheinberg● University of Hartford - Lou

Manzione● Trinity College - Jason Rojas● Connecticut State Colleges and

Universities - Mark Ojakian● Stanley Black and Decker - Tim

Perra● Travelers Insurance - James

Scannell● Farmington Bank - John J.

Patrick, Jr.● HYPE - Kim Bishop

● Hartford Healthcare - David Whitehead

● YWCA of New Britain - Robin Sharp

● CCAT - Elliot Ginsberg● Capital Region Development

Authority - Mike Freimuth● Remarkable Technologies - Eric

Knight● Aerospace Alloys - Michelle

Allinson● MetroHartford Alliance - David

Griggs● The Hartford - TBD● Thomas Dudeck - Barings

● Town of East Hartford - Marcia Leclerc● City of Hartford - Luke Bronin● City of New Britain - Erin Stewart● Town of Glastonbury - Chip Beckett● CRCOG - Lyle Wray● Capital Workforce Partners - Alex

Johnson● Town of Windsor - Peter Souza● Hartford Foundation for Public Giving -

Jay Williams● United Way - Paula Gilberto● Leadership Greater Hartford - Ted Carroll● Urban League of Greater Hartford -

Adrienne Cochrane● LISC - Andrea Pereira● Casasnovas Consulting, LLC - Jorge

Casasnovas

Capacity and Leadership

● Engage leaders and potential investors in championing the plan

● Rally the community around the opportunity

Foundational Discussions Analysis

● Reviewed the significant body of research on the region

● Added fresh data and SWOT analysis

● Engaged Working Group and Advisory Board in exploratory discussions

● Draft Situational Assessment

Building Ideas to Action

● Engaging a range of stakeholders to further define strategies and impacts (end of June)

● Advancing a portfolio of strategies into detailed actions

The Process

Geodata from US Census Bureau

Benchmark Regions:Columbus, OHIndianapolis, INLouisville, KYOklahoma City, OKSalt Lake City, UTRichmond, VA

Peer Regions:Springfield, MAProvidence, RI

● Business Services○ Large Legacy Legal Services sector○ Business services supports and enhances growth in other sectors – Finance,

Insurance. ○ Health Care benefits from region’s cost advantages, proximity to large NE US

market

● Insurance and other Financial○ Region still has a competitive advantage for this sector – critical to maintain it○ Insurance services creates demand for a variety of business services, and

workers in financial occupations

What are Metro Hartford’s high-potential sectors?

● Metal Working and Metal Products ○ Upstream and downstream - e.g. architectural and structural metals vs. cutlery and

hand tools○ Large laggard Wholesale trade sectors – hardware, electrical goods, and Misc.

Durable goods● Production Technology Machinery and Equipment

○ Electronic Instruments (3345) Large laggard sector – demand from Aerospace○ Legacy of Region’s aerospace history, major supplier to it

● Aerospace○ Source of demand for machinery and metals products○ Challenge will be supply of skilled workers

● Medical Devices○ Serve large NE US health care sector, health insurance providers.○ Region has small Pharmaceutical sector (3254), could benefit from other, but

located to major pharma clusters in other NE metros

What are Metro Hartford’s high-potential sectors?

Goals

1. Enhance Regional Collaboration to Promote & Grow the Region.

The Metro Hartford Region:Where Workers Live Where Jobs Are

Enhance Regional Collaboration

Enhance Regional Collaboration

1. Create a Regional Business Attraction Strategy Focused on Targeted Key Sectors2. Create a Platform and Funding Mechanism for Regional Collaboration on Major

Developments and Infrastructure Investments3. Collaborate to Attract Federal/External Grant Funding and Advocate for Regional

Economic Development Revenue Sources and Investment 4. Ensure that Entrepreneurship and Small Business Resources are Connected Across

the Region5. Leverage State Efforts to Enhance Broadband Connectivity 6. Promote the Region Through Branding and an Ambassador Program

Strategies to Consider:

2. Create the Workforce of Tomorrow.

(Create a robust pipeline of talent that has the skills and experience that industry needs to succeed in the 21st Century)

Create the Workforce of Tomorrow● Build on your existing untapped workforce

○ More than 37,000 unemployed: youth not working or in school, low-skill adult workers, limited english proficiency, veterans, and those with disabilities.

○ Stable labor market, but racial concentration in low-paying sectors.● Prepare your future workforce

○ A majority of job openings expected in the metro Hartford region from 2016-2022 (51%) will be middle- and high-skill jobs.

● Retain college graduates○ Compared to the benchmark metro areas, the Hartford MSA performs below

average in 2- and 4-year institution retention and has the lowest rate of all benchmarks for 4-year retention alone.

Strategies to Consider:1. Adopt a Policy Prioritizing Meeting the Workforce Needs of Key Traded

Sectors in the Region2. Develop an Industry-Driven Credential/Training System Targeted at

Out-of-School Youth and Un/ Under-employed Adults, Based on the German Model

3. Engage Employers to Develop Robust Soft Skills Training that can be Tailored for Middle School Through Adult

4. Provide All High School Juniors With the Opportunity to Attend an Industry-Driven Program or Obtain an Associates Degree

5. Promote High-Opportunity Careers to Middle and High School Students through Branding and Exposure Opportunities

6. Prioritize Funding for Programs that Increase Degree, Certificate and Credential Attainment by Female and Minority Young Adults

Create the Workforce of Tomorrow

3. Establish a Vibrant Quality of Place to Retain & Attract Talent.

Establish a Vibrant Quality of Place● Grow your population…

○ The share of total population for persons between the ages of 25 and 44 has steadily declined for years, falling from 33.4% in 1990 to the current level of 23.8%, with an absolute decline of 87,200 persons.

● By creating vibrant places ○ While many residents live in a suburb where most people drive to

most places, very few residents indicate that they would like to live in such a place in the future. On the contrary, more than 40% of residents aged 21-65 would like to live in walkable areas with shops and restaurants.

1. Develop a Regional Approach to Ensuring a Diverse Mix of Housing Options (both type and cost) Through Policy and Financial Incentives

2. Create a Regional Entity and Funding Mechanism to Preserve, Enhance, and Promote Regional Recreational, Historic, and Cultural Assets

3. Develop a Strategy to Expand Retail and Restaurants in Downtown Hartford

4. Develop a Mechanism to Implement Transit-Oriented Development Projects on a Scale that is Attractive to the Private Market

1. Develop a Rail Connection Between Hartford and Boston Through Springfield

2. Expand Rapid Transit System to Increase Internal Connectedness

3. Build A Linked Network of Bicycle and Pedestrian Routes and Amenities Throughout the Region

4. Leverage Planned Bradley Expansion for Economic Development

Strategies to Consider:Establish a Vibrant Quality of Place

Transportation-related strategies:

Next Steps: Strategy Groups ● Strategy Groups - June 26th - 28th

○ Comprised of organizations who are working in the Opportunity Areas + cross-sector leaders and decision-makers

○ 1 Group per Opportunity Area; 3 break-out groups ○ Co-hosts will help us convene the appropriate stakeholders○ Outcome - A vetted and refined set of strategies ○ Process

■ What’s already happening - what is at scale vs. what should be scaled?■ What are the barriers to implementing the strategy at scale?■ Refine strategy to specify: Who would do What towards what End?■ Prioritize based on ability to impact inclusive economic growth.