Presentation to Medina Econ Dev Corp
-
Upload
mark-barbash-finance-fund -
Category
Documents
-
view
277 -
download
3
description
Transcript of Presentation to Medina Econ Dev Corp
![Page 1: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/1.jpg)
The Changing Business of Dynamic Economic
Development
Mark Barbash Economic Development Practitioner
![Page 2: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/2.jpg)
Emerging Trends in Economic Development
The new Ohio Economic Development Paradigm
Northeast Ohio Sustainable Communities Consortium
![Page 3: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/3.jpg)
Emerging Trends in Economic Development
![Page 4: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/4.jpg)
Globally competitive economy
Significant budget reductions
Jobless economic recovery
Workforce skills gap
Change being driven by….
![Page 5: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/5.jpg)
Rethinking economic development organizations
More players in the game
Changing incentives to be more focused and performance based
What’s changing?
![Page 6: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/6.jpg)
Economic gardening as an entrepreneurial approach
Manufacturing reshoring
Everyone is connected
STEM education
What’s changing?
![Page 7: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/7.jpg)
Web –enabled site selection
Global competition - even for small communities
Competitive Economic Development Industry
![Page 8: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/8.jpg)
The New Ohio Economic Development Paradigm
![Page 9: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/9.jpg)
Ohio’s New Economic Development Approach
• Attraction • Site Selection • International Business • Incentives • Loans/Grants • Clean Ohio • Regional Partners
Ohio Department of Development
• Housing & Partnerships • Job Ready Sites (JRS) • Historic Pres Tax Credits • Ohio Third Frontier • Energy Office • Small & Minority Business • Loans/Grants
![Page 10: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/10.jpg)
![Page 11: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/11.jpg)
Creating a Long Term Competitive Northeast Ohio
Coming together to create a vibrant, sustainable and
competitive Northeast Ohio
![Page 12: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/12.jpg)
![Page 13: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/13.jpg)
Enable local communities to develop collaborative
solutions to the challenges they face.
Enable NEO universities and intermediaries to
provide better research & a deeper bench of young
professional talent.
Enable MPOs and other critical actors to make
more strategic decisions.
Enable NEO to become more globally
competitive, nationally attractive and socially
equitable.
NEOSCC Outcomes
![Page 14: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/14.jpg)
Funded by a highly competitive $4.25M federal grant from the U.S. Department of Housing and Urban Development, plus matching funds of $500,000 from the Fund for our Economic Future
12 county region including Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Mahoning, Medina, Portage, Summit, Stark, Trumbull , Wayne
23 public and private entities joining together
Consortium members have pledged a total of $2.45 million in funds and in-kind match in the form of staff time and operating expense contributions.
![Page 15: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/15.jpg)
LONG TERM STRATEGIC INVESTMENTS
10 – 20 Years Investments
Changing the Quality of the Assets
Improved quality of assets including people, place and knowledge
STRATEGIC ADVANTAGE:
Invest in interventions that improve the quality of the region's assets
Advocate to influence and innovate public policy
![Page 16: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/16.jpg)
Source: CSU Center for Economic Development; Moody’s economy.com Source: CSU Center for Economic Development; Moody’s economy.com
% G
row
th G
RP
20
10
-20
19
2010 Location Quotient
Traditional Base – GRP Growth v. LQ
16
2006-2010 GRP Growth
>5%
<5%
Step One: Economic Analysis
![Page 17: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/17.jpg)
Step Two: Identify Job Centers
![Page 18: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/18.jpg)
Step Three: Strategic investment to support business growth
![Page 19: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/19.jpg)
Step Three: Strategic investment in knowledge assets and quality of life
![Page 20: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/20.jpg)
What does this all mean for Medina County?
![Page 21: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/21.jpg)
Are we prepared for the new economic realities?
![Page 22: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/22.jpg)
How do you see yourself?
Strategic Perspective
Tactical Opportunistic
Organized Delusion
Clueless Apathy
Hostile Waters
![Page 23: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/23.jpg)
![Page 24: Presentation to Medina Econ Dev Corp](https://reader033.fdocuments.net/reader033/viewer/2022052905/5586d75fd8b42a5d4a8b460c/html5/thumbnails/24.jpg)
Questions, comments, criticisms, arguments,
good jokes?
Thank you.