ECONOMIC DEVELOPMENT Gary L. Toebben L.A. Area Chamber of Commerce November 29, 2006.

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Presentation transcript:

ECONOMIC DEVELOPMENT Gary L. Toebben L.A. Area Chamber of Commerce November 29, 2006

GOALS JOBS TAX BASE QUALITY OF LIFE

Economic development is about adding basic jobs to your local community. Basic jobs-bring new $ to the economy Secondary jobs- circulate the basic $ in the economy.

SUCCESS IN CREATING NEW BASIC JOBS IS DEPENDENT ON: Quality of the product. Marketing and service of economic development representatives. Attitude of elected officials.

QUALITY OF THE PRODUCT Workforce Land/buildings Infrastructure Support services Quality of life

MARKETING & SERVICE OF ECONOMIC DEVELOPMENT REPRESENTATIVES Good website and collateral materials Responsive service Aggressive follow-up Professionalism

ATTITUDE OF ELECTED OFFICIALS Economic development is a high priority. City/County staff are helpful and supportive. Tax policies and regulations are viewed as fair and consistent. Business is treated as a partner-not an adversary.

COMPANY CHOICES Basic jobs have many location choices. Secondary jobs follow population growth.

ELECTED OFFICIALS ARE KEY When elected officials don’t care about economic development or give the perception of caring about economic development

BASIC JOBS SAY: “I can go elsewhere” Can’t place the company at a disadvantage against their national or global competition.

SECONDARY JOBS Secondary jobs are more willing to fight the red tape in order to beat their local competition and serve the population growth.

CHALLENGE The average elected official does not know the difference between a basic job, that usually pays higher wages and benefits, and a secondary job that is often in the service or retail category and pays lower wages and benefits.

Chambers of Commerce in California must help elected officials understand: The importance of retaining the basic jobs we have-and creating more. The important role they play in retaining and attracting basic jobs.

We also have the job of helping elected officials understand the important role they play in retaining and attracting basic jobs.