seveds s.m.a.r.t. comprehensive economic development strategy (smart ceds) ceds committee training

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©2013 ViTAL Economy, Inc. 1 SeVEDS S.M.A.R.T. Comprehensive Economic Development Strategy (SMART CEDS) CEDS Committee Training January 17, 2013 ViTAL Economy Alliance Frank Knott - [email protected] Mark Madsen – [email protected]

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SeVEDS S.M.A.R.T. Comprehensive Economic Development Strategy (SMART CEDS) CEDS Committee Training. January 17, 2013. ViTAL Economy Alliance Frank Knott - [email protected] Mark Madsen – [email protected]. CEDS Committee Training Agenda. - PowerPoint PPT Presentation

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Page 1: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.1

SeVEDS

S.M.A.R.T. Comprehensive Economic

Development Strategy (SMART CEDS)

CEDS Committee Training

January 17, 2013

ViTAL Economy Alliance Frank Knott - [email protected]

Mark Madsen – [email protected]

Page 2: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.2

CEDS Committee Training Agenda

11:00 AM – Introduction, Agenda & Initiative Overview, – Frank Knott

11:20 AM – How we got here…why are we doing a CEDS– Jeff and Laura

11:40 AM – EDA Requirements and Changes in CEDS Structure – Frank and Mark

12:00 PM – Review CEDS Best Practice Examples & Performance Metrics – Frank & Mark

12:30 PM – Working Lunch and Continue best Practice Discussion - All

1:15 PM – Break

1:30 PM – Overview & Discussion of S.M.A.R.T. CEDS Process for SeVEDS – Frank & Mark

2:30 PM – S.M.A.R.T. CEDS Community Engagement Process Overview – Frank

3:30 PM – Putting it All Together to Achieve Best Practice S.M.A.R.T. CEDS - All

4:30 PM - Next Steps and Adjourn

Page 3: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.3

Initiative Overview

Frank KnottViTAL Economy Alliance

Regional CED Strategy

Initiative Overview

Page 4: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.4

1. Process – Based on Best Practices for Regional CED & Collaboration

2. Regional Focus – Enables regions to compete against country strategies

3. Asset-Based – Indigenous assets grow more durable economies

4. Diversified – Makes for a more nimble & resilient economy!

5. Measurable Strategy – Responsive to trends…relevant to region

6. Disciplined & Consistent – All ideas are not equal…priorities matter

Keys to Regional S.M.A.R.T. CEDS Development & Implementation

Page 5: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.5

ViTAL Economy S.M.A.R.T. CEDS Premise

1. A CEDS is more than... • a list of projects • a description of the region• generally defined aspirational goals• a task to reach eligibility for federal funding.

2. A CEDS should be an opportunity to formulate effective strategies that can transform a region’s economy by creating or retaining wealth and increasing prosperity

3. Effective CEDS strategies must be measureable, accountable to leadership and owned by the region

Not all jobs are created equal!

Page 6: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.6

“How We Got to This Extraordinary Point in Time”

Jeff Lewis BDCC

Page 7: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.7

Why a CEDS for Southeast Vermont?

TO DO #1: Confirm SeVEDS Goals and Objectives for undertaking CEDS

Your input:

Page 8: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.8

Changing CEDS Structure and

EDA Requirements

Frank Knott ViTAL Economy Alliance

Page 9: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.9

2011 Assessment of EDA’s CEDS Planning Process

EDA published an opportunity for the public to comment on EDD/CEDS regulations through a Federal Register Notice. Some ideas received were:

Public Comments on CEDS Get rid of prescriptive requirements for CEDS Strategy committees Simplify CEDS requirements by adopting NADO's Peer Standards

of Excellence Update CEDS data sets to measure relevant 21st century global

knowledge factors Either get rid of project list requirement in CEDS or ensure that only

projects on CEDS lists are funded Adopt standards for non-EDA funded CEDS that are consistent with

EDA-funded CEDS Ensure that all implementation projects be tied to a CEDS, make the

current project list requirement meaningful Don't fund projects not in CEDS Expand list of individuals that can be on the EDD Board Require coordination with District Organizations for all projects

UPJOHN STUDYPUBLIC COMMENTARY

Page 10: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.10

2011 Assessment of EDA’s CEDS Planning Process

Increase EDDs’ ability to guide regionaleconomic development efforts

Encourage EDDs to focus on looking forward to new opportunities and creating strategies

Promote EDD leadership that can express a clear, unified vision based on the region’s strengths

Encourage EDDs to identify and develop clusters driven by innovation and entrepreneurship

UPJOHN STUDYRECOMMEDATION #1

Page 11: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.11

2011 Assessment of EDA’s CEDS Planning Process

Enhance the CEDS Reduce the size of the document and focus more on strategic

development and collaboration to implement regional vision Discontinue five-year CEDs updated schedule Make the CEDs planning process annual Conduct better outreach to increase awareness and the use of the

strategy Partner with EDA University Centers to collect data

UPJOHN STUDYRECOMMENDATION #2

Page 12: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.12

2011 Assessment of EDA’s CEDS Planning Process

Advancing EDA’s relationship with EDDs More feedback from EDA Promote best practices Establish larger regional working groups Examine how funding applications are handled at the federal level

UPJOHN STUDYRECOMMENDATION #3

Page 13: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.13

NADO CEDS Peer Standards

1. Build more resilient economies and communities by focusing and targeting regional strategies on the existing and potential competitive advantages of each individual region.

2. Foster a regional collaborative framework to strategically align public sector investments from federal, state and local sources, as well as private, nonprofit and philanthropic partners.

3. Use modern scenario, data and analysis tools and planning techniques that provide policy makers, stakeholders and the public with evidence-based and factual based information.

4. Transform the CEDS process into a more strategy-driven planning process focused on regional visioning, priorities setting and performance outcomes, rather than broad-based encyclopedia or narrative of the region with a laundry list of random projects and programs.

5. Promote and support peer reviews and exchanges of Economic Development District planning professionals and policy officials with the goal of increasing collaboration across EDD boundaries, enhancing organizational resources, and positioning regional CEDS as more effective building blocks for statewide and local strategies.

6. Communicate in a compelling and modern communication style, including use of executive summaries, high quality print and online media, and social media.

7. Engage the public, private, nonprofit and educational sectors, along with the general public, in the development and implementation of the CEDS.

Page 14: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.14

Best Practice Examples of CEDS Reports and Performance Metrics

Frank Knott &

Mark MadsenViTAL Economy Alliance

Page 15: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.15

CEDS Example #1 – Northland Works Partnership, Minn.

• Modern Smart formatting & compelling style of communication

• Broad Collaborative Partnership

Page 16: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.16

CEDS Example #1 – Northland Works Partnership, Minn.

Clearly defined industry Drivers/Clusters based on regional assets

Page 17: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.17

CEDS Example #1 – Northland Works Partnership, Minn.

Clearly defined Action Items

Page 18: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.18

CEDS Example #2 – Southern Tier Regional EDC

Newly Established EDC in August 2011

• Modern format and presentation• Good use of graphics to

communication their message

Page 19: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.19

CEDS Example #2 – Southern Tier Regional EDC

Good use of Issues of Challenge and Opportunity

Page 20: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.20

CEDS Example #2 – Southern Tier Regional EDC

Five clearly defined strategies, each with specific actions

Page 21: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.21

CEDS Example #2 – Southern Tier Regional EDC

Each strategy and action item has an associated Implementation Agenda • Lead and partner entities• Resources• Timeframe

Page 22: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.22

CEDS Example #3 – Prosperity Partnership

Prosperity Partnership: Regional Economic Strategy for the Central Puget Sound Region.

• Broad Collaboration• Extensive use of modern data,

analysis & planning tools

Page 23: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.23

CEDS Example #3 – Prosperity Partnership

• Extensive use of graphics mixed with text

• Goals (aspirational) and Strategies

• Implementation plans• Performance Metrics

Page 24: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.24

CEDS Example #3 – Prosperity Partnership

• Targeted industry clusters• Clear implementation plans &

responsibilities

Page 25: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.25

BREAK

Page 26: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.26

Specific

Measurable

AchievableRelevant

Time Based

S.M.A.R.T. Goals – Measure the Right Things to Get Better Results

Page 27: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.27

Why do Performance Metrics Matter?

Regional Development Organization• Broader buy in and commitment to the strategy

• Improved ability to commutate a methodology, strategy, and priorities

• Increased creditability and relevance as a organization

• Greater ability to sustain a strategy by using ongoing measurement

• Broader investment in regional CED

Community• More diverse and balanced economic development approach

• More sustainable economy

• Faster growing economy due to clear direction and priorities

• More attractive economy

Page 28: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.28

State & Regional Scorecards• Point in time benchmark, without trend analysis• Limited measurements at the County level• Comparison to “like” communities

Core Performance Metrics• Focus on factors that guide wealth creation/retention• Designed to establish job goals at three levels

• New high wage jobs• New average wage jobs• Improvement of existing jobs by $5,000/year

Region Unique Metrics• Directly linked to region unique challenges and opportunities• Informed by elements of Sense of Urgency and Quality of Place

1. Trend Analysis2. Benchmarks3. 5-year goal setting4. On-going measurement

Performance Based Metrics

Page 29: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.29

Regional CED PerformanceVersus

Regional CED Best Practices

Page 30: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.30

Regional CED Best Practices – #1-5

1. Regional Collaboration: Meaningful & sustainable grass-roots collaboration across public, private, non-profit and traditional political boundaries

2. Leadership Excellence: Empowers proactive leadership to take ownership of their economy; grows leaders with accountability, authority, legitimacy & transparency

3. Change Management: Adopts the eight steps critical to managing change into the work plan of each board, committee and action team associated with CED. This will enable the region to more effectively participate and compete in the global economy

4. Balanced Approach: Integrates economic development, education & workforce development assets with the private sector to build effective knowledge based economic, human capital & quality of place centers of excellence

5. Asset Based Approach: Identify, connect and leverage tangible and intangible assets to sustainably grow and transform the regional economy

Page 31: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.31

Regional CED Best Practices # 6-10

6. Measurable Outcomes: Employs measurable benchmarks, SMART goals and strategies which transform the region through measurable outcomes. ( SMART = Specific, Measurable, Attainable, Relevant, Time Bound)

7. Innovation Driven: Builds innovation ecosystems that create a lasting regional climate of opportunity, entrepreneurship, risk taking and innovation

8. Life Cycle Finance: Provides access to a life cycle of funding as well as equity and debt financing to sustain regional public, private & non-profit ventures

9. Regional Brand Promise: Defines, creates, communicates and delivers on a clear brand promise that promotes & sustains regional competitive advantages

10. Regional Transformation Mindset: Sustains commitment to CED as a journey that is a marathon not a sprint, and is transformative not incremental

Page 32: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.32

Best Practices for Regional Collaboration

Page 33: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.33

Collaboration Best Practices – #1-4

1. Recognizes & accepts need for collaboration: Potential partners need to recognize their interdependence. Structural, procedural, financial, professional barriers need to be identified and minimized where feasible

2. Understands & respects partner’s capabilities and limits: All parties need to appreciate and respect the others’ background, experience, needs, capabilities, motivations, expectations, and goals.

3. Executive Commitment and Ownership: Partnerships can only succeed with the consistent and sustainable commitment of key public and private sector executives, which promotes “ownership” within their organizations.

4. Clear working relationships & lines of accountability: Partnerships need clear and simple “terms of engagement.” Decision-making process must be transparent. Roles, responsibility, and lines of accountability must be clear.

Page 34: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.34

Collaboration Best Practices – #5-8

5. Goals and outcomes must be clear & transparent: Goals and objectives must be “SMART.” Risks, rewards, and expected benefits/outcomes should also be specific and measurable. SMART = Specific, Measurable, Attainable, Relevant, Time-Bound

6. Uses effective, accurate, consistent, open & clear communications: Collaborative efforts are dependent upon open and clear communication both internally and externally.

7. Develops & maintains trust: Developing and maintaining trust is the basis for the closest, most enduring and most successful working arrangements.

8. Measures, Monitors, Learns and Adapts: Evaluation and review are an integral part of any management process. They are essential to monitor progress related to the group’s goals & objectives, making modifications and cementing commitment and trust.

Page 35: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.35

Community Economic Development Readiness Assessment

The CED Readiness Assessment is an honest self-assessment facilitated by VE during the Kickoff Event week. The final report includes recommendations and actions to close gaps in regional CED delivery.Who from SeVEDS, BDCC, WRPC, etc. should participate?

Best Practice Categories Low1 2

Medium3 4

High5

Regional Collaboration

Leadership ExcellenceChange ManagementBalanced ApproachAsset Based ApproachMeasureable OutcomesInnovation & EntrepreneurshipLife Cycle FinanceRegional Brand Promise

Regional Transformation Mindset

EXAMPLE

Page 36: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.36

Overview and Discussion of S.M.A.R.T. CEDS Process

Mark Madsen via WebEX

Page 37: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.37

SeVEDS CEDS Committee Roles

See Handout Documents

– Committee Roles

– S.M.A.R.T. CEDS Table of Contents

TO DO #2: Confirm official CEDS Committee membership via SeVEDS Board action

Page 38: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.38

Kickoff• CEDS Committee Training• Existing Research• Sense of Urgency• Issues of Challenge &

Opportunity• Economic Benchmarking &

S.M.A.R.T. Goal Setting• Community Engagement

Plan• CEDS Objectives• CED Readiness

Assessment

Discovery• Four (4) Open Public Input

Events (March)

• Four (4) Community Report Back Events (May)

• Focus Interviews

• Media Campaign

• Begin Analysis of community input

Connect• Analyze Community Input• Prioritize Strategies• Identify & Prioritize

Targeted Industry Clusters• Prioritize Critical capital

project• Identify partners• Develop Implementation

Plan

S.M.A.R.T. CEDS Four Milestone Process and Schedule

Report• Prepare /Review Draft

CEDS• Town Hall Meeting to

open 30-day public comment period

• Finalize CEDS• Adopt CEDS• Submit CEDS to EDA

Jan Feb March April May June July Aug Sept Oct

17 15 19-20 21-22 19

Town Hall MeetingCEDS Kick-off Event

To Do #3: Set Bi-Weekly SeVEDS Staff / VE Conference Call Schedule

Page 39: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.39

Examples of Economic Benchmarking and Regional Profile

Mark Madsen via WebEX

Page 40: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.40

Balanced Strategic Approach – Central Illinois

Inform Goals

StrategyAction

CEDS PlanningBusiness Retention & Expansion

Business RecruitmentBusiness IncubationLeadership Training

Strategic Components

Industry Sectors

Forestry

Agriculture

Healthcare

Tourism

Information Tech

Manufacturing

Education

Energy

Focus Forward CI2017 Regional Goals

2017 Pop. target 386,475(2010 Census 375,218)

13,190 new jobs: (1,319 Jobs @ $53,715/yr)(11,841 Jobs @ $48,832/yr)

Improvement of 19,456 existing jobs by $5,000/yr

Ramp up

Educational Attainment Bachelor & Graduate Degrees (25 & over) 2012 est. 68,7192013 69,919 (+1200)2014 71,219 (+1300)2015 72,769 (+1550)2016 74,669 (+1900)2017 76,969 (+2300)

Increase Pop of25-44 age from 25% to

30% of total Pop.

Reduce families inPoverty by 10%

Page 41: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.41

S.M.A.R.T. Goals Development Process & Framework

1. Benchmark2. Trend analysis3. Goal setting4. Measurement

Core Performance Metrics

Region Unique Metrics

Strategy Specific Metrics

Development Steps

Primary Issues of Challenge &

Opportunity

Strategy & Action

Page 42: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.42

Primary Issues of Challenge

& OpportunitySouthern Illinois = Benchmark, High Poverty

Highest % in rural region

Highest poverty rate

Highest unemployment rate since 09/03

Lowest % college graduates

Highest % enrolled in Medicaid

Highest % age 5+ with a disability

#1 #1 #1 #1 #1 #1Highest % of population over age 65

Highest % age 65+ in poverty

Highest % age 65+ with a disability

Lowest % of population 0-10

Highest % age 0-17 in poverty

Highest % households owner burdened

#1 #1 #1 #1 #1 #4Highest % households lack complete plumbing

Highest % households lacking complete kitchen

Highest % commuting to work from other IL counties

Lowest % population work and live in same county

Highest % households rent burdened

Highest % of Adults with no High School Diploma

#1 #1 #1 #3 #3 #1

Source: IL Poverty Summit, “2004 Report on Illinois Poverty,” Based on US 2000 Census or IL Dept of Employment Security data & Atlas of Illinois Poverty Spring 2003

EXAMPLE

Page 43: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.43

Primary Issues of Challenge

& OpportunityMaine = Trend Analysis, Aging Population

2013-2028 Population Change

0-54 -107,980

54+ +90,826

Maine is already the “oldest state” in the U.S. and facing an acceleration of decline in all ages except for 64+ starting in 2018

This will threaten the viability of the Maine economy and quality of life

2003 2008 2013 2018 2023 2028 125,000.00

175,000.00

225,000.00

275,000.00

325,000.00

375,000.00

425,000.00

0-19

20-34

35-54

64+

55-64

Age Demographic Trends, 2003 - 2028

EXAMPLE

Page 44: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.44

Existing Regional Benchmark Reports Can Provide a Solid Foundation to Build Key Performance Metrics

Page 45: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.45

Benchmark: Maine’s GDP

Graphic Source: Maine Measures of Growth in Focus, 2011

GDP Data: NNE Economic Scenario Model, 2009 data - 2011 dollars

Maine Goal GDP growth outpace

NE and US

GDP growth rate >4.2%

Equals $1.35B over trend$50,376 → $51,400 per capita

Key Trend Factors: Real GDP

1. 2009 Maine GDP = $66.4B

2. GDP Growth Rate 2004–2009

2009-2010US 5.7% 2.6%NE 3.9% 3.4%Maine 1.4%

2.1%

Region % of Maine GDP Regional GDP (2009) Per Capita GDPNorthern 6.9% $4.6 $44,770

Eastern 18.5% $12.3B $47,819

Androscoggin 12.0% $8.0B $41,914

Kennebec 12.5% $8.3B $48,803

Portland/Lakes 33.1% $22.0B $48,400

Southern 11.7% $7.8B $39,106

MidCoast 7.9% $5.3B $47,858

EXAMPLE

Page 46: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.46

• Population• Employable Population• Labor Participation Rate• Total Employed• Average Wage• Total Region Wages• Per Capita Income• Regional GDP• Bachelors Degrees 25+

Core Performance Metrics

Target Job GoalsNew jobs at 110-115%

of average wage

New jobs at new average wage

Improvement of existing jobs by

$5,000/yr

Measureable Economic Vision

Page 47: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.47

EMDC Greater Bangor Region Baseline 2008 2015 Goal ChangePopulation 108,950 116,577 +7.0%

Employable Population (16 and older) 89,727 94,213 +5.0%

Labor Participation Rate 60.9% 63.5% +1.04%

Total Employed 54,643 59,825 +9.4% (5,182)

Average Wage $32,376 $45,000 +38.9%

Total Region Wages $1.76B $2.69B +52.8%

Per Capita Income $32,239 $50,000 +55%

Regional GDP $5.8B $8.8B +52%

Internet Subscribers 40% (43,580) 60% (69,946) +50% (26,366)

Bachelors Degrees 25 & Over 20,339 27,457 +35% (7,118)

Regional Specific Goals Baseline 2008 2015 Goal Change17-24 year old without HS Diploma 20% 15%

20-44 population 35.6% (38,786) 38% (44,299) +5,513

Associate Degrees 25 & Over 10.6% (7,767) 15% (12,065) +4,298

2007-2015 CPI-W Inflation Assumption: 3.08%/year

Core Performance Metrics

NEW JOBS: 3,109 WAGE: $51,750 $160.8mNEW JOBS AT AVERAGE WAGE: 2,072 WAGE: $45,000 $93.2mIMPROVEMENT OF EXISTING JOBS: 10,928 WAGE: $5,000 $54.6m CLIMATE OF ECONOMIC OPPORTUNITY: $681.4m

EXAMPLE

Page 48: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.48

Greater Egypt Region Baseline 2012 Same Trend

2012 Goal Change

Population (2004) (Adjusted) 249,484 255,222 274,432 +10%

Employable Population (16-64) (Adjusted)(2000) 160,527 167,936 179,238 +11.7%

Labor Participation Rate (Adjusted) (2000) 67.4% 67.4% 71% +5.3%

Total Employed (2004) 108,627 113,188 127,259 +17.2%

Average Wage (2004) $27,830 $35,765 $43,489 +56.3%

Regional Wage Indicator (2004) $3.0B $4.04B $5.5B $1.46B

NEW JOBS: 11,179* WAGE: $43,500 $486.2M

NEW JOBS AT AVERAGE WAGE: 7,452 WAGE: $43,489 $324M

IMPROVEMENT OF EXISTING JOBS: 21,725 WAGE: $5,000 $108.6M

CLIMATE OF ECONOMIC OPPORTUNITY: $541.2M

Core Performance Metrics EXAMPLE

Page 49: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

©2013 ViTAL Economy, Inc.49

Region Unique Metrics

0.00

10.00

20.00

30.00

40.00

50.00

60.00

2005

Southern Illinois USA-ruralUSA-average #1 in World

% P

enet

ratio

n of

Po

pula

tion

12%24%

34%

54%Network

Provider COIhas set an ambitious

goal to increase the

SI penetration rate to world class levels!

COI Results (2006-2007):• Created a demand driven customer aggregation model generating thousands of open-access sales leads

(www.iwantmybroadband.com)• Over 35+ small towns have received broadband• Over $24M+ in new private sector broadband infrastructure • Reached 16% Penetration and 41% Broadband Coverage after only 18 months

25-to-85% Broadband Coverage

12-to-54% Penetration

2012 Goals:

Page 50: SeVEDS S.M.A.R.T. Comprehensive Economic  Development Strategy (SMART CEDS) CEDS Committee Training

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Aroostook County Renewable Energy Economy Strategic Elements

FINANCEThe region must develop an integrated

finance structure to supply specialty forms of financing for energy efficiency

modifications and heating system conversions

VALUE ADDED PROCESSINGPellet and Chip manufacturers converting biomass for forest and farm into heating

fuel material. Distribution systems deliver product to consumer.

NATURAL RESOURCEForest and Farm biomass resources form

the foundation of this industry in Aroostook County

INNOVATIONUMPI, UMFK, UMaine & NMCC must lead in the develop of R&D and workforce training programs

attracting young thinkers and linking to regional industry

INDUSTRY NETWORKSInformal and formal industry

networks must be create locally, regionally, nationally and globally

CONNECTIVITYThe region must be leading the US in

the availability and 24x7 boundary free uses and access to broadband

services

ENTREPRENUERSHIPThe region must embed a climate of entrepreneurship from grade school

education to community leaders

Aroostook Renewable Energy Economy

MARKETING & COMMUNICATIONS

A strategic and consistent internal and external communication plan must be

implemented to promote the use of Aroostook energy products and resources

Strategy Specific Metrics

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Aroostook 2015 Goals

1,677 new jobs @$42,000

1,118 new jobs @$38,500

Improvement of 6,628 jobs

by $5,000/yr.

$365M new wages

Increase Internet Subscriptions

to 37,500

Reach Regional GDP of $2.8B

27.7% Private Payer Healthcare

Reimbursements

Renewable Energy

Economy

Strategy Direct Impacts

62 jobs (3.6%)

$45.3M (12.4%)

604 jobs (54%)

$94.6M (3.7%)

650+ jobs with benefits

Strategic Opportunity Value$69.9M per year

Strategy Specific Metrics Northern Maine Renewable Energy Economy Strategy

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Balanced Strategic Approach – Southern Vermont

Inform Goals

StrategyAction

CEDS PlanningBusiness Retention & Expansion

Business RecruitmentBusiness IncubationLeadership Training

Strategic Components

Industry Sectors

Forestry

Agriculture

Healthcare

Tourism

Information Tech

Manufacturing

Education

Energy

Five YearRegional Goals

Ratio of Net Earned incomeTo Total Income

↑ .566 to .65

Increase Median Annual Income

AS/some Collegeto $32,000/yr.

Increase Median Annual Income

Bachelors Degreeto $32,000/yr.

Increase 20-44 ageEmployment 20%

Increase AS/Tech Certs.For 18-24 age

From 38% to 47%

Increase Pop of25-44 age by 20%

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Regional S.M.A.R.T. Goal Setting Example – Southern Vermont 2017 Goals

Base SeVEDS Region Metrics Baseline 2017 Goal % Change

Total Change

Population 42,605 42,605 0% -

Employable Population (16 and older) 35,520* 36,171 +1.8% +651

Labor Participation Rate 65%* 68.8% +5.8% -

Total Employed 23,089* 24,894 +7.8% +1,805

Average Wage $38,820 $39,848 +2.6% +$1,028/yr

Total Region Wages $896M $992M +10.7% $96M

Regional GDP $2.37B $2.8B +18.1% $430M

Regional Strategic Metrics Baseline 2017 Goal ChangeRatio Net Earned Income/Total Income .566 .650 +14.1% -

Increase Median Annual Income for Associates/Some College workforce $26,855 $32,000 +19.1%

+$5.145/yr($2.47/hr)

Increase Median Annual Income for Bachelors Degree workforce $32,518 $39,000 +19.9%

+$6,482/yr($3.12/hr)

Increase 20-44 employment by 20% in five years (2009 data) 10,691 12,829 20% +2,138

Increase Associates Degrees/Some College and Technical Certificates among 18-24 age bracket

38% (1,495)

47%(1,884)

+23.6% +389

Increase the 25-44 age population by 20% in five years 9,533 11,439 20% +1,906

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Put it all together to create a highly effective S.M.A.R.T. CEDS

1. Measure a comprehensive set of performance metrics

2. Assess long term trends leading to the current climate

3. Identify the key issues and create a sense of urgency

4. Create a Quality of Place vision for the region

5. Set measureable SMART Goals

6. Map and analyze existing assets

7. Develop strategies for the top 2-3 industry clusters

8. Empower the entire community to be involved

9. Foster a climate of innovation & entrepreneurship

10. Take action and measure progress

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CEDS Community Engagement Process Overview & Tools

Frank Knott ViTAL Economy Alliance

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Communication Strategy

Engage and recruit a broad base of community leaders to inform and lead bottom-up and top-down economic transformation of the SeVEDS region

Positively influence, highlight the key issues or cultural barriers that have been constraining economic progress and prosperity of the region.

Imbed core principles of the VE Journey into the day-to-day behavior of regional leaders, so the region becomes a climate of economic opportunity & collaboration

Three Communication Elements Are Required:

1. Initiative Communications – Progress reports link to goals and objectives

2. Community Internal Communications – Focused on recruiting more champions

3. External Communications beyond the region – Attracts investment into region

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1. Demographics – Population mix required for 21st century workforce

2. Workforce – 63% of 2018 workforce will require beyond high school ed.

3. Climate of Innovation – Key to prosperity & economic growth

4. Knowledge Based Enterprises (KBE) – Create most high value jobs

5. Quality of Place – 50% of attraction for KBE worker’s families

Issues of Challenge & Opportunity Data Information Knowledge Implications Opportunity Action

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Communication Tool Options

1. Adopt the eight steps for managing change

2. Establish a clear vision and define a sense of urgency

3. Create a climate of transparency

4. Launch initiative website and social media tools

5. Record all initiative milestone events

6. Communicate measurable goals with reminder tools

7. Establish speakers bureau outreach into every community

8. Engage local with free content on the initiative throughout region

9. Issue periodic progress reports on the journey

10. Celebrate short-term wins early and often

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Start Toda

y!

1. Create a Sense of Shared Need & Urgency

2. Create the Vision & Build the Guiding Team

3. Define the Change Impacts

4. Communicate for Buy-in

5. Empower Others to Act

6. Create Short-term Wins

7. Sustain the Change

8. Make it Stick

Based on Kotter, John P. Leading Change. Boston: Harvard Business School Press

Engaging & Enabling the

Whole Community

Implementing & Sustaining

Transformation

Creating a Climate for

Change

Eight Steps for Leading Change are Essential

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Project Management and Communication Tools

• File sharing • Project calendar• File sharing• Messaging• Collaborative documents

• Online meetings• Desktop viewing

• Community event invitations• Track RSVPs• Contact list• Registration at event• Name badges

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Use the Internet and social media tools effectively

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Let the community know who is involved

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Keep the community informed with web tools

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Level of Commitment from SeVEDS

Orientation Recommended

CEDS Committee

SeVEDSStaff

Designate

Social Media

Twitter Y

Facebook Y

YouTube Y

Project Management Dropbox Y

Basecamp ✓ Y y Y

Communication

Eventbrite ✓ y Y

WebEx y Y

Key:Y – required commitmenty – possible commitment

TO DO #4: Select project management and communication tools

Designate responsibility as required

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SeVEDS Community Engagement Meetings

Kickoff Event – February 15 Event Planning – SeVEDS Staff and VE – Week of January 28 Event presentation materials delivered to SeVEDS – February 5 VE in Region 2 Days Pre-launch activities for Feb. 14-15

Review Regional Profile with update statistics – 1 hour session Review and update Issues of Challenge and Opportunity – 1 hour session Facilitated CED Readiness Assessment – 2.5 hours session

Kickoff Event Location? Time? Master of Ceremonies? Introductory Speaker? Invitees? Videographer? Refreshments?

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SeVEDS Community Engagement Meetings

Round 1 Public Engagement Events – Week of March 18-22 VE in Region 3 Days Four large open public meetings to collect public input

Dates? Locations? Invitees?

Focused business, academic, workforce development, non-profit sector Individual and group interviews (Round One) Dates? Who? Locations?

Round 2 Public Engagement Events – Week of May 20-24 VE in Region 3 Days Four large open public meetings to report back community input

Dates? Locations?

Focused business, academic, workforce development, non-profit sector Individual and group interviews (Round Two as needed) Dates? Who? Locations?

Planning for these events to take place with SeVEDS Staff and VE following Kickoff Event in February

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Report Phase

• Early preliminary draft for CEDS committee review/comment– To SeVEDS First Week of August– Review Second Week of August and back to VE

• Late preliminary draft for CEDS review/comment– Joint VE/SeVEDS review First Week of September

• Town Hall Meeting presentation open public comment period– September 16 - Publication ready version to SeVEDS– September 19 - Town Hall Meeting and open public comment period

• Final CEDS Document Revision and Delivery

• Adopting Body(ies) Action

• Submittal to EDA

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Kickoff• CEDS Committee Training• Existing Research• Sense of Urgency• Issues of Challenge &

Opportunity• Economic Benchmarking &

S.M.A.R.T. Goal Setting• Community Engagement

Plan• CEDS Objectives• CED Readiness

Assessment

Discovery• Four (4) Open Public Input

Events (March)

• Four (4) Community Report Back Events (May)

• Focus Interviews

• Media Campaign

• Begin Analysis of community input

Connect• Analyze Community Input• Prioritize Strategies• Identify & Prioritize

Targeted Industry Clusters• Prioritize Critical capital

project• Identify partners• Develop Implementation

Plan

S.M.A.R.T. CEDS Four Milestone Process and Schedule

Report• Prepare /Review Draft

CEDS• Town Hall Meeting to

open 30-day public comment period

• Finalize CEDS• Adopt CEDS• Submit CEDS to EDA

Jan Feb March April May June July Aug Sept Oct

17 15 19-20 21-22 19

Town Hall MeetingCEDS Kick-off Event

To Do #3: Set Bi-Weekly SeVEDS Staff / VE Conference Call Schedule

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Thank You!

Q & A

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