PowerPoint Presentation

Economic Development: Know it When You See ItMaury FormanEDA Annual ConferenceApril 9, 2014

Alberta Economic Development Successes Population growth International trade and investment offices Diverse Industries Highest employment rate among provinces Second lowest unemployment rate Steady growth in the ICT industry sector Tourism is a significant economic driver

Why do economic development? Create jobs Raise incomes Increase tax base Help local industries Stabilize the economy Avoid obsolescence Develop resources Revitalize communityDefinitionSmokestack chasing is the act by state and local governments of using tax and other incentives to lure blue collar jobs to their districtsDefinitionTargeting is about prospectively spotting where the best opportunities exist to accomplish your areas particular economic development objective.

DefinitionEconomic Impact Analysis is the projection of direct current public costs and revenue associated with potential growth taking place in a community.Workforce Consists of Boomerangers Lifers TransplantsDefinitionWorkforce 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.Economic Leakage

Good for the environment More money stays in the community Creates a relationship economy Makes community uniqueThink Local First Because

DefinitionAsset mapping is the development of policies and activities based on an understanding, or map, of the communitys resources with the potential for promoting community development.Corner Gas Luncheonette

What you are thinking at this very moment? I am learning some new things in this presentation

How much longer is this American going to keep talking, eh?

Id like to buy this guy a drink later on

20th Century Stool Theory Economic DevelopmentCommunityDevelopmentBusiness Retention & ExpansionBusinessAttraction

21st Century Stool Theory Economic DevelopmentAsset Development

The Nonprofit Arts are a $135 Billion IndustryTotal Expenditures$135.2 billionFull-Time Equivalent Jobs4.10 millionLocal Government Revenue$6.0 billionState Government Revenue$6.6 billionFederal Income Tax Revenue$9.5 billionTotal Economic Impact of the Nonprofit Art Industry(Includes both organization and audience expenditures)The Alberta Arts and Culture IndustrySpend more per capita than any other CanadiansCompanies provide the highest level of per capita1,046 events and activities in 93 communities 44 professional performing arts companies155 community performing arts organizations 330 public and institutional art galleriesAdding more foot tapping, smile inducing moments to our lives is sound public policy.

21st Century Stool Theory Economic DevelopmentInnovation/ EntrepreneurialDevelopmentBuild a Stand, Spark a Dream

Lemonade Day Objectives Empower youth Take ownership of their lives Become productive members of society Promote skill development Develop forward-thinking citizens of tomorrow

21st Century Stool Theory Economic DevelopmentTechnical AssistanceMonk Assistance