IEDC
October 6, 2015
Cecilia A. Mowatt
Strategies In Site, Inc.
[email protected]
+1-312-286-3310
Economic Development
The Unusual Suspects
Enhancing Your Economic Development Model
What is Your
Model?
Adding Texture
to Your model
Share Your
Tapestry
Considering new perspectives beyond traditional economic development
Do You Understand Your
Economic Development
Model?
Assess, Survey and Reinvent
We Need to Move Beyond Economic Development
JOBS + ECONOMIC DEVELOPMENT
Project Development
Onsite Labor Impact
Local Revenue
Supply Chain Impacts
Induced Impacts
We Need to Move Beyond Economic Development to
Holistic Economic Development
Build on the traditional formula.
Don’t focus on individual aspects.
Integrate and Augment!
Avoid JEDI Mind Tricks!
Economic Development Requires both Organization and Leadership
“of the people, by
the people and for the people”
Economic Development is
People do the work of Economic Development!
WHO IS INVOLVED IN PLANTING THE SEEDS FOR YOUR COMMUNITY’S DEVELOPMENT?
Take Time To Check Where In The World You Are And Where
You Want To Be With Your Economic Development Plan?
» Do you have a master plan to inform and
shape your physical development?
» Does it need a refresher? Who has seen it?
» People breathe life into a master plan.
» Renew Your Commitment to:
Key Areas of Specialization,
Key Employers, and
Key Contributors
Enrich Your Economic
Development by Adding
Texture
Look beyond Project Development, Onsite Labor Impact, Local Revenue, and Supply Chain!
There is a direct correlation between successful Economic Development and Improvement in a City’s Quality of Life
Economic Development initiatives cannot succeed unless the
city’s
quality of life issues are addressed.
They cannot be overlooked or hidden.
Building Blocks of Community Sustainability
»
»
»
»
Good Environment
Arts
Culture
Recreation
The foundation of Quality of Life is health, education, housing, welfare and safety.
The sustainability blocks build to make your community the place where people
want to live, work and play.
The City’s Culture is
the foundation of
it’s external
reputation.
Culture can create the physical space of a city
and
Physical space in a city can influence it’s
culture
UNDERSTAND IT AND MANAGE IT!
Collaboration,
Diversity and
Inclusion
Greater Diverse Networks Can Solve Greater
More Complex Problems.
It’s about multi-cultural, multi-functional
team work, and inclusion will get you there.
Diversity Drives Development in more than property type
» Without inclusion and outreach you can’t
get the diversity you need and you lose
out on optimizing results
» Openly embrace and seek diverse projects
» Celebrate different cultures, religions,
sexual orientations
Groups of diverse problem solvers can outperform groups of high ability expert
problem solvers. (Lu Hong & Scott Page, University of Michigan study in National Academy of
Sciences)
Individuals’ Judgments Turn Into Group Decisions
» Diversify the individuals involved to Diversify
Decisions
» Attitudes and perceptions of individuals
cause judgments about what will and will
not work, where to build or not, where to
play or not, where is safe or not.
» The attitudes of those one encounters when
visiting a city send inherent messages
delivered through verbal or nonverbal cues.
» Perception becomes reality.
Create A Platform For Genuine Sustained Community Outreach
Enhance Quality of Life and Economic Development through a
culture of collaboration and
pride through inclusive Public
Private Partnership
The hard work yields multiples.
Partnership begins with People Coming Together
» Connect firsthand and learn about every
neighborhood’s assets (organizations, businesses,
key leaders – young and old)
» Identify needs, desires and challenges
» Understand the inventory of potential
» Openly tackle the challenges that everyone
perceives
» Develop a perspective based on realities of both
strengths and weaknesses
» Cross fertilize across neighborhoods then regions
Create a Leadership Council to tackle Sore Spots
Identify champions in areas requiring advocacy: Education (Higher and Elementary);
Workforce Training; Business; Arts & Entertainment; Environment…
Leadership should focus first on taking care of local needs development and then act
regionally.
Share Your PPP Tapestry
Now armed with Ambassadors to spread the word!
What Do You Know About Your
Community?
What do you Say About Your Community? What do you Tell?
Major differences between knowing, saying, telling and overlooking.
What would others say?
LAND OF GOOD AND PLENTY
When did you last ask, if
ever?
Convince Yourselves First
Then Others
Use the Usual Suspects but
add some Unusual Suspects
A City’s self perception projects the city’s culture
to outsiders.
Cities are a reflection of the people who live,
work, and play within their boundaries
Foreign
investment: What
Bogota can teach
Chicago
Few cities have gone from
bust to boom like Bogota.
Chicago could learn about
luring foreign investment
from Colombia's capital
Borrow lessons from other successful stories:
Great Taglines
Great Ambassadors
Great Commitment and Long Term Investment
By Alex Rodriguez,
Tribune reporter
April 20, 2014
Food for Thought: Daniel H. Pink reminds us “To Sell is Human”
elevator pitch and
try new message styles
Move beyond the
• The Rhyme-Pitch: Hit with Wit, AKA Johnny Cochran Approach to Taglines
• One Word Equity: Houston’s Passion
• The Question Pitch: Reagan’s “Are you better off now than you were four
years ago?
• Subject-Line Pitch: Peak Utility or Curiosity
• Twitter Pitch: Tweet with a Tease
• The Pixar Pitch: A simplified version of your city’s story of change and
readiness
Thanks for your
attention!
What’s
Your Message?
Cecilia A. Mowatt
Strategies In Site, Inc.
[email protected]
+1-312-286-3310