Bringing Economic Development into the 21 st Century

1. Bringing Economic Development into the 21st Century Maury Forman WEDA Winter Conference February 13, 2012

2. Washington Economic Development 2011 • Ranked #2 in Sustainability • Ranked #2 in Entrepreneurial Activity • Total Exports were $53.2 billion • 31% of residents have college degree • 1.71 patents per 1000 residents • Ranked #3 Greenest State • Agriculture output has a value of $8.25 Billion • #1 in software employment • #2 in nationally certified teachers

3. 20th Century Stool Theory Economic Development Community Development Business Retention & Expansion Business Attraction

4. Definition • Community Sustainability is about prospectively spotting where the best opportunities exist to accomplish your area’s particular economic development objective.

6. 21st Century Stool Theory Economic Development Asset Development

7. Definition Asset mapping is the development of policies and activities based on an understanding, or ‘map,’ of the community’s resources with the potential for promoting community development.

9. The Nonprofit Arts are a $134 Billion Industry Total Economic Impact of the Nonprofit Art Industry(Includes both organization and audience expenditures)

10. Adding more foot tapping, smile inducing moments to our lives is sound public policy.

11. Definition • Workforce Development is a statewide system of education and training that prepares people for high skill jobs and assures employers of a skilled flexible workforce in the future.

12. Workforce Consists of… • Boomerangers • Lifers • Transplants

13. 21st Century Stool Theory Economic Development Entrepreneurial Development

14. Dino versus Jaws • Flexibility • Adjustability • Adaptability

15. Build a Stand, Spark a Dream

16. Definition • Intraprenuers are highly self-motivated, proactive and action-oriented people who are comfortable with taking the initiative, within the boundaries of an organization, in pursuit of an innovative product or service.

17. “That’s a good idea, but…” • It’s against company policy • It’s not practical • It’s not necessary • We don’t have the resources • It will cost too much • We’ve never done it that way • Our customers (or vendors) won’t like it • It needs more study • It’s not part of your job • Let’s make a survey first

18. “That’s a good idea, but…” • Let’s sit on it for a while • That’s not our problem • The boss won’t go for it • The old timers won’t use it • It’s too hard to administer • Why hasn’t someone else suggested it before? • Let’s form a committee • We should wait until the economy improves • Who else has tried it? • Is it best practice?

19. 21st Century Stool Theory Economic Development Technical Assistance

20. Innovate Washington Export Finance Assistance Center of Washington Washington State Microenterprise Association Impact Washington Center for Economic Vitality (WWU) Small Business Development Centers Gov. Office of Regulatory Assistance Small Business Solutions Statewide Resources for Existing Businesses

21. Small Business Credit Initiative State Trade and Export Promotion www.Business.wa.gov www.BizGuide.wa.gov http://www.commerce.wa.gov/smallbizhelp/ New Tools for Existing Businesses

22. If he gets cute with me I’ll break more than a couple eggs. Frank Perdue's chicken slogan, "it takes a strong man to make a tender chicken" was translated into Spanish as "it takes an aroused man to make a chicken affectionate."

23. Export Businesses Have... • ...a vision of world trade • ...an understanding of others culture and their dynamics • ...the drive to define, measure and open markets

24. Economic Leakage

25. You see, Timmie

26. What you are thinking at this very moment • I learned some new things in this presentation • I would like to buy this guy a drink later on • I can’t believe I have to listen to one more presentation