Partnering to Promote Economic Growth
February 13, 2006
What is Economic What is Economic Development?Development?
It is the process by which a community organizes and then applies its energies to the tasks of improving the economic well-being and quality of life for the
community. Economic development is an investment in
the community. . WEDIWEDI
Why Economic Development?
Creating and Retaining Desirable JobsIncreasing the Tax Base Providing Services and Paying the BillsMaintaining a Strong Economy
Economic DevelopmentA Dynamic Process
Global economyMergers and restructuringShifting market preferencesMust be alert for new opportunities to
diversify local economies
Components ofEconomic Development
A.Organizational Development
B.Infrastructure Development
C.Business Development
D.Workforce Development
E. Community Cash Flow Development
Department of Department of Commerce Commerce ResourcesResources
Bureau of Business Development
Coordinates and Facilitates Business Creation, Retention and Expansion Efforts in Wisconsin (Area Development Managers)
Underwrites, Contracts and Services Program
Funds (Business Finance)
Region 1: William Lehman715/656-3530
Region 2: Marty Ambros715/836-2630
Region 3: Deb Clements 715/344-1381
Region 4: Dennis Russell920/498-6302
Region 5: William Winter608/647-4613
Region 6: Kathy Heady608/266-9944
Region 7: Dave Martens608/261-7711
Area Development
Managers
Resources for:
EntrepreneursFixed Assets & Working CapitalCustomized Employee Training Technology DevelopmentCommunity InfrastructureBrownfields Redevelopment
Local Economic Development Contacts
County or Multi-County Development Corporations
Municipal or County Government UtilitiesChambers of Commerce
Local Development Organizations
Wisconsin Economic Development Association - www.weda.org
Economic Development Corporations or Chambers of Commerce -www.commerce.wi.gov - go to partner links on the more info menu
Local Development Organization Resources
Revolving Loan FundsSite SelectionSmall Business CounselingBusiness Incubators Information and Much More …
“…Early care and education is being recognized as an important economic sector in its own right, and as a critical piece of social
infrastructure that supports children’s development and
facilitates parents’ employment.”Anon. Cornell University Website
WEDA Survey
WEDA Members Agree that Early Childhood Education is a critical Economic Development Strategy (48%)
Awareness is not shared by their local communities (44% no, 34% not sure)
Early Care and Economic Development
Early Care as an Economic SectorEarly Care is Important to Working Parents
and Employers Early Learning is an Important First Step in
Future Workforce Development
Early Care as an Economic Sector
Significant Employment BaseSmall BusinessesMultiplier Impact (Direct, Indirect, Induced)
Early Care – Labor Force
Labor Force Participation – 2004 - % Children under 6 with all parents in labor Force – 66%
Labor Shortages Business Partnerships
Early Learning Key to Future Workforce
Return on Investment – (Belfield & Winters Study and others)
Achievement Gap
Working Together
Experience working with companiesMarketing buildings and labor
resources to expanding businessesResources to help companies stay in
businessEntrepreneurial Assistance
Communications
Internet: www.commerce.wi.gov Phone: See Area Development Manager Map Entrepreneurs Network: www.wenportal.org SBDC Answerline: 1/800-940-SBDC
Top Related