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Robert Weissbourd, RW Ventures, LLC

Cities Charting New Directions: Metropolitan Business Planning. City Reformers Group Workshop March 22, 2011. Robert Weissbourd, RW Ventures, LLC. Metropolitan Business Plans: A New Way of Doing Business.

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Robert Weissbourd, RW Ventures, LLC

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  1. Cities Charting New Directions:Metropolitan Business Planning City Reformers Group Workshop March 22, 2011 Robert Weissbourd, RW Ventures, LLC

  2. Metropolitan Business Plans: A New Way of Doing Business Grounded in Economics and Business: comprehensive, integrated growth strategies based on unique regional strengths Gets the Job Done: not just a plan; cross-sector institutional capacity critical to regional performance Continuous implementation, monitoring, adaptation and further strategy development Demonstrate better ways to invest in metros to strengthen national economy; develop new federal policies and programs. Source: Brookings Institution

  3. 94% 92% 78% 79% Venture Capital Funding Airline Boardings 75% 76% 75% U.S. Air Cargo Weight Patents 73% 66% Wind + Solar Energy Employment Service Exports Graduate Degrees Gross Product Population Why Metros? Top 100 Metros Share of U.S. Total Sources: Brookings analysis of US Census Bureau, FAA, BLS, NIH, NSF, and BEA data; Brookings, ExportNation, 2010 (2008 data); Forthcoming research from Brookings and Battelle Source: Brookings Institution

  4. What is it About Place that Affects Economic Performance? Urbanization and Localization Economies:general and industry-specific benefits of concentration as workers and firms co-locate; spillovers, synergies, shared labor and job pools, linkages among firms generate increased efficiency and productivity through flow of ideas and technologies, enhancements to human capital, economies of scale, reduced transaction and transport costs. (Marshall, Krugman) New Growth Theory:location is becoming more important, and with different benefits, in the knowledge economy, as metros increasingly become centers of idea creation and transmission (through technology, human capital externalities, intellectual spillovers). Increasing returns to knowledge and imperfect competition lead to metro specialization and divergence. (Romer, Lucas) Institutional Economics:growth, and particularly innovation, take place in the context of an institutional infrastructure – research, professional and learning networks; universities and civic/business organizations; quasi- and governmental organizations and regulation – which can hamper or accelerate all of the other benefits of concentration. (Coase, Atkinson) “Cities exist to eliminate transport costs for people, goods and ideas” – Ed Glaeser The Major Systems that Drive Efficiency and Productivity Operate at a Metro Level

  5. Influencing Metro Economies • Act Comprehensively -- The Whole is Greater than the Sum of the Parts. Increasing productivity and efficiency requires influencing how the pieces fit together – the interactions and synergies between economic activities • Customize. Regional Economies are differentiated, complex and dynamic • Develop Institutional Capacity and Intentionality. Growing metro economies entails continuously integrated, grounded and deliberate activity Key Question: What are the leverage points to improve system performance?

  6. EnhanceRegionalConcentrations Increase SpatialEfficiency DeployHuman CapitalAligned withJob Pools Leverage Points DevelopInnovation-EnablingInfrastructure Create EffectivePublic & CivicCulture & Institutions

  7. Enhance Regional Concentrations: Industries, Occupations and Functions Cluster Map Source: Bo Heiden, Strategic Uses of the Global Patent System

  8. Deploy High Levels of Human Capital Alignedwith Job Pools

  9. Develop Innovation-Enabling Infrastructure Research Partners Consumers R&D Market Research Academics Innovation Ecosystem Finance Marketing Suppliers Manufac- turing External Consultants Customers Image based on material from Land O’ Lakes Inc.

  10. Increase Spatial Efficiency Housing + Transportation Costs as Percent of Income Housing Costs as Percent of Income Source: Center for Neighborhood Technology

  11. Create Effective Public & Civic Culture & Institutions Source: Newsweek, Manyika, Lund and Auguste, “From the Ashes,” 8.16.2010

  12. Governance in the Next Economy Global, Knowledge Economy Specialization and Dynamism Intentionality Build on Your Assets Coordinated, Cross-Sectoral, Flexible, Adaptive, Open, Information-Rich, Inclusive, Entrepreneurial Compete on Value-Added (not low-cost)

  13. Why “Metropolitan Business Planning”? The steps to analyzing and improving a regional economy lend themselves to the proven discipline of business planning. Source: Brookings Institution

  14. Business Plan Components Metropolitan Investment Prospectus

  15. Pilot Metro Business Planning Regions Northeast Ohio Puget Sound Minneapolis-St. Paul Source: Brookings Institution

  16. Dept. of Transpo. SAFETEA-LU Programs Dept. of Labor Workforce Inv. Act Dept of Commerce Int’l. Trade Admin. Increase SpatialEfficiency DevelopInnovation-EnablingInfrastructure EnhanceRegionalConcentrations Create EffectivePublic & CivicCulture & Institutions DeployHuman CapitalAligned withJob Pools Small Business Assistance Upgrading Roads and Rail Affordable Housing Export Strategy Workforce Training HUD Section 8 Comprehensive Metropolitan Strategy A New Economic Federalism Small Business Admin. Loans

  17. Integrated Federal Investment Dept. of Transpo. SAFETEA-LU Programs Department of Commerce International Trade Administration Small Business Admin. Loans Dept. of Labor Workforce Inv. Act Dept of Commerce Int’l. Trade Admin. Department of Transportation SAFETEA-LU Programs HUD Section 8 White House Office of Urban Affairs Dept. of Labor Workforce Inv. Act Small Business Administration Loans Increase SpatialEfficiency DevelopInnovation-EnablingInfrastructure EnhanceRegionalConcentrations Create EffectivePublic & CivicCulture & Institutions DeployHuman CapitalAligned withJob Pools HUD Section 8 Comprehensive Metropolitan Strategy A New Economic Federalism • Cross-Agency Regional Teams • Pooled and Flexible Funding • Support for Regional Capacity Building • “New Federalism” Partnership

  18. DISCUSSION Cities Charting New Directions:Metropolitan Business Planning City Reformers Group Workshop March 22, 2011 Robert Weissbourd

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