W I R E D Logansport Cass County Board
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Transcript of W I R E D Logansport Cass County Board
Economic Development in Today’s World
Logansport-Cass CountyEconomic Development Foundation
November 16, 2007
Ed MorrisonIndianaWIRED
Purdue Center for Regional Development
1
Rest of the
World
Traded
Businesses
Local Businesses
Purchases and paychecks
Your economy
Another
region
Brain Drain and
Purchases
Sales
3
2
1
2
3
Good Money: Increase the volume of
income into the region with competitive
traded businesses
Neutral Money: Increase the velocity
of money circulating in the region with
local businesses to create more jobs
Bad Money: Reduce income leaks
by reducing outside purchases,
workers who move out, and
students who drop out
Economic Development in an Nutshell
Source: Ed Morrison, David Morganthaler
DependencyDrop Outs
A downward cycle of economic development
accelerates with a deteriorating civic environment
Entrepreneurial
activity
declines
Tax base erodes
Civic amenities and
infrastructure
deteriorate
Higher taxesWell-paid jobs
decline
Quality of life
deteriorates
Skilled labor
supply shrinks
Businesses
shrink or leave,
start-ups do
not arise
Business base
gets weakerDeteriorating Civic
Environment
Skilled people
move out
Brain drain as
young people
drop out and
move out Place develops a
bad reputation
Source: Ed Morrison
A prosperous cycle of economic development
accelerates with civic collaboration
Entrepreneurial
activity
increases
Tax base grows
Civic amenities
and infrastructure
improves
Lower taxes
Well-paid jobs
increase
Quality of life
improves
Skilled labor
supply grows
New firms emerge,
established firms
grow
Build a quality,
connected place
Build brainpower
with 21st century
work skills
Build innovation
and entrepreneur
networks
Collaborative
Civic Environment
Skilled people
move in
Source: Ed Morrison
5
Our grandfather’s economy created a lot of wealth
The S-Curve caught up to our grandfather’s economy
What happened in my
home town
Collapsing costs are undercutting our 1st Curve economies
The Internet exploded
Now we must shift to a path for creating prosperity
Every few hundred years in Western history, there occurs a sharp transformation.
Peter Drucker, The New Realities (1989)
A 2d Curve economy is emerging with wealth created by networks...
2d Curve strategies are based on “linking and leveraging”
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
First Curve Ideas Second Curve Ideas
Hierarchies Networks
Command and control Link and leverage
Acquire More Align More
Strategic Planning Strategic Doing
Experience Curve Metcalfe Curve
Mass Production Mass Customization
Transactions Relationships
What’s the power of a network?
What’s the value of one fax machine?
What’s the value of ten fax machines?
2d Curve strategies involve linking and leveraging assets in
five “asset networks”:
1.Brainpower2.Innovation3.Quality places4.Branding5.Civic Collaboration
2d Curve Strategies are inter-connectedand collaborative
HealthyBrainpower and
World Class Skills
Entrepreneur and
Innovation Networks
Insightful Stories and Effective
Branding
Infrastructure for Quality,Connected
Places
Civic Collaboration
Innovative Businesses
Healthy, Creative Places
Healthy, CreativePeople
Dynamic Clusters
Second Curve strategieshave a simple proposition...
Regions will prosper on the Second Curve with balanced strategies that...
1. Build world class brainpower
2. Translate brainpower into wealth through innovation and
entrepreneurship networks
3. Create quality, connected places where “hot spots” can develop
4. Create a buzz with a brand
5. Continuously strengthen habits of civic collaboration
This approach integrates different perspectives...
IndianaWIRED is designed to build networksacross a 14 county region
HealthyBrainpower and
World Class Skills
Entrepreneur and
Innovation Networks
Insightful Stories and Effective
Branding
Infrastructure for Quality,Connected
Places
Civic Collaboration
Innovative Businesses
Healthy, Creative Places
Healthy, CreativePeople
Dynamic Clusters
IndianaWIRED
✓ Talent✓ Entrepreneurship✓ Innovation✓ Collaboration
IndianaWIRED
Successful communities will move their thinking from hierarchies to networks
The power of the invisible fence
Civic forums provide the venue to define new opportunities
and practice new civic behaviors
Source: Nead Brand Partners
30
Successful communities will use civic forums to uncover entrepreneurial opportunities
Knowledge Person;
Hub
Boundary Spanner
Knowledge Person;
Hub; Influencer
Peripheral
Person
Information
Broker
Knowledge
Person
Successful communities will understand the power of networks
Peripheral
Boundary Spanner
Hub
They will map their networks
Social Network Mapof the
Southwest Regional Leadership ForumUniversity of Evansville
March 17, 2006
Presented by the Indiana Humaniteis Council
Which region is stronger?
Successful communities
will build civility as a strategic
asset
Successful communities will map their brainpower
Successful communities will develop their innovation networks
Positive
conversations
Negative
conversations
Years
Prosperity
Index
Consequences of different conversations
about economic development
Today
Source: Ed Morrison
Successful communities will guide the stories that create their brand
Creating the new stories: Youngstown and Kalamazoo
Successful communities will embrace metrics
Successful communities will leverage the Inernet
edpro-weblog.net oedc-connect.net
Successful communities will balance open participation with leadership direction
The Civic Space
Source: Ed Morrison
The civic space is fragmented and confusing
Alliance
Mt. Pleasant
AlliancePartnership
County ED
Digital Corridor
Chamber
Chamber
Chamber
County
County
County$
$
$
BusinessInvestors
$
County ED
County ED
WorkforceInvestment
Board
ThinkTec
Low Country
Mfg.
Port
MUSC
Defense Industries
MarineSciences
Other Local and Chamber ED
Activities
Tourism/ CVB
Education Foundation
Environmental Groups
COG
Base Closure
Higher Ed consortium
Low Country Graduate
Center
BenchmarkCollaborative
Charleston
N. Charleston
World Trade Center
State Legislators
The partial civic space for economic development
in Charleston, SC is highly fragmented
The civic space is complex...it appears fragmented if there
are no connections or the connections are
weak
Successful communities will take the “Shanghai perspective”
in all they do
Our View Their View
Find
Launch
FocusLearn
Evaluations
Action Plans
Insights
Initiatives
Develop ideas about what we can do
together
Choose what we will do
Identify and align resources to
specific initiatives
Execute and measure results
Successful communities will learn the discipline of Strategic Doing
Strategy Maps help you organize
strategic issues
Strategic Doing gets you started
Find
Launch
FocusLearn
Evaluations
Action Plans
Insights
Initiatives
Develop ideas about what we can do
together
Choose what we will do
Identify and align resources to
specific initiatives
Execute and measure results
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
46
Here is a view of the future...
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
Brainpower
46
Here is a view of the future...
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
Brainpower Innovation
46
Here is a view of the future...
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
Brainpower Innovation
Quality, Connected Places
46
Here is a view of the future...
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
Brainpower Innovation
BrandingQuality, Connected
Places
46
Here is a view of the future...
A dynamic regional innovation economy will
have a range of different communities
connected some connected to each other but
all connected to a regional forum
Brainpower Innovation
BrandingQuality, Connected
Places
Collaboration
46
Here is a view of the future...
Thank you!
IndianaWIREDwww.indiana-wired.net