Marketing Your Community

45th Annual Community Betterment Conference

Definition

“Economic development is a process by which a community creates, retains and reinvests wealth and improves the quality of life.”

David Dodson

M.D.C. Inc., Chapel Hill, NC

Economic Development Strategies

Business Retention and Expansion Entrepreneur Development Business Attraction Tourism/Visitor Attraction

Economic Development Strategies (CONT.)

Encouraging additional consumer spending in the community

Seeking public grants and projects Retiree Development/Attraction Retail/Commercial Development Agri-business Development Bedroom Community Development

Community Development Involves all aspects of improving community

organizational capacity, business development, workforce development, development of markets, and investments in infrastructure, downtown areas, gateways, business parks, speculative buildings and/or public/private partnership opportunities. These provide the underpinnings for a strong and vibrant social and economic interaction.

Entrepreneurship Defined Entrepreneurs - people who create and grow

businesses, who perceive new opportunities and create and grow ventures around them.

Entrepreneurship Development - infrastructure of public and private policies and practices that foster and support entrepreneurship.

Why Entrepreneurship?

Entrepreneurs not only start business ventures, but provide vital community leadership.

Locally owned businesses return a larger share of their revenue back to the community.

The Youth Component – For every individual returning to community, population increases by three.

Why Entrepreneurship?

Ultimately, it is the recognition that in the long run your community has to do it itself.

Every community has the means to grow through their entrepreneurs.

Contemporary Economic Development Is board and comprehensive Applies to attracting new enterprises, goods-

producing and knowledge-based In contrast to industrial recruitment, it is

based on knowledge workers and a culture of innovation rather than cheap land and labor

Includes attracting “business anchors” such as senior housing, educational enterprises, and visitors and retirees – less traditional, but effective, ways of increasing the flow of external resources into the local economy.

Realities Sources of new jobs: (Dr. David Birch)

Business Retention & Expansion: 55%

Start-up: 44% Attraction: 1%

There are 300,000 economic development agencies in the US chasing 3,000 deals annually. (Jack Schultz)

Rural America and Entrepreneurship

We see communities and regions… Looking to re-energize economies from

within Mobilizing inclusive partnerships Identifying their assets Engaging youth Thinking regionally Recognizing entrepreneurship as a key

economic development strategy

Economic Development in Rural Communities Traditional ED approaches are not working.

ED programs tend to focus on natural resource industries and industrial recruitment.

Growing awareness that this approach doesn’t work for rural communities.

Growing number of communities are intentionally focusing on entrepreneurship development.

Entrepreneurial Response Create climate and culture in which entrepreneurs and entrepreneurship can flourish

4 organizing principles:o Community-driveno Regionally-orientedo Entrepreneur-focusedo Continuously learning

ExCEED Community Economic and Entrepreneurial Development

ExCEED Is a multi-disciplinary program that cuts across all

Extension program areas and is focused on revitalizing rural economies through alternative approaches to economic development.

Uses an engagement and collaborative learning model to re-energize local economies to build sustainable economies based on the strengths and assets of the local community or region.

Works with community leaders to develop strategies that ensure wealth transfer in rural communities.

Common Community Issues Leadership capacity

Team building Collaboration-building Access to capital (adults & youth) Downtown revitalization School system engagement Research, evaluation & analysis

ExCEED Regional Projects

NW MO

Old Trails

Show Me E!

BYOB

Ozark Heritage

NE MO RBOG

Brookfield

Chariton County

MRH

All Natural

SMEDA

Brookfield Using Home Town Competitiveness approach Community Foundation established Leadership program underway Entrepreneur network Existing business visitation program Provider Network under development Youth entrepreneurship education & mentorship Downtown Revitalization initiative

Brookfield Business Expansion:

43 New Jobs and 45 Retained Jobs $1 million in additional payroll Lease/sale of community’s 10 year old

spec building $2.5 million investment

Mississippi River Hills Missouri Cuisines Project

Marketing region (Ex: regional maps)

Developing Quality Standards and regional label of origin

Restaurants, local and outside the region, are using products grown or produced in region.

Workshops for local businesses Association established Youth entrepreneurship

Purpose

The MISSISSIPPI RIVER HILLS ASSOCIATION (MRHA) works to educate the public about locally produced agriculture products, foods, wines, arts, crafts, sites and services within the Mississippi Hills region in order to protect and enhance these resources for future generations.

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The pilot region was selected by Dr. Barham because of relatively small size, and the existing networks & partnerships

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MississippiRiverHills.org

What the MRHA Does

Promotion Maps (print / online) Product labels Signage and member

designation at businesses Road signs Guide to regional foods Media relations: news

releases, feature articles, magazine articles

Information booths at key events (some we arrange)

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MRHA Coordinator Lisa PalmerBlack and Gold Product Showcase 2008

Extension’s Role

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Deliver / arrange for educational programsTechnical assistance (grant writing, business and

marketing plan development, industry-specific assistance)

Support and guidanceConnection to University and partner resourcesResearch and evaluationSharing the story (newsletter, start-up web site)Financial oversight (transitioning to board)

Ozark Heritage Region

Focusing on youth Engaged 15 of 23 school

districts in Year 1; all 23 in Year 2 Student business competition

15 student-led businesses

Youth will be followed to determine impact of entrepreneurship education on their career/location choices

South Central Career Center, CC Café

ExCEED Program Outcomes Contributions to local foundations and endowments $283,000

Grants received $202,500

Leadership programs/participants 3/67

Youth education events/participants/ businesses started 38/846/22

Training Programs/Attendees 23/255

New businesses started 28

Business expansions 7

New/Retained Jobs 49/45

New Investment $222.67 mill

Local Leverage (volunteer hours) 6038 hours = $103,793.22

* As of June 30, 2007

Terry Hackney

exCEED Program

University of Missouri Extension

211 Gentry Hall

Columbia, MO 65211

Phone: (573) 882-9509

Email: hackneyt@missouri.edu

Web: http://extension.missouri.edu/ceed/