Bringing Economic Development into the 21 st Century Maury Forman WEDA Winter Conference February 13, 2012

Washington Economic Development 2011 Ranked #2 in Sustainability Ranked #2 in Entrepreneurial Activity Total Exports were $53.2 billion 31% of residents have college degree 1.71 patents per 1000 residents Ranked #3 Greenest State Agriculture output has a value of $8.25 Billion #1 in software employment #2 in nationally certified teachers

20 th Century Stool Theory Economic Development Community Development Business Retention & Expansion Business Attraction

Definition Community Sustainability is about prospectively spotting where the best opportunities exist to accomplish your area’s particular economic development objective.

21 st Century Stool Theory Economic Development Asset Development

Definition Asset mapping is the development of policies and activities based on an understanding, or ‘map,’ of the community’s resources with the potential for promoting community development.

Infrastructure Report Card AviationD BridgesC DamsD Drinking WaterD- EnergyD+ Hazardous WasteD LeveesD- Public Parks & RecreationC- RailC- RoadsD- SchoolsD Solid WasteC+ TransitD

The Nonprofit Arts are a $134 Billion Industry Total Expenditures$134.0 billion Full-Time Equivalent Jobs4.85 million Local Government Revenue$6.6 billion State Government Revenue$7.3 billion Federal Income Tax Revenue$10.5 billion Total Economic Impact of the Nonprofit Art Industry (Includes both organization and audience expenditures)

Adding more foot tapping, smile inducing moments to our lives is sound public policy.

Definition Workforce 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.

Workforce Consists of… Boomerangers Lifers Transplants

21 st Century Stool Theory Economic Development Entrepreneurial Development

versusDinoJaws Flexibility Adjustability Adaptability

Build a Stand, Spark a Dream

Definition Intraprenuers are highly self-motivated, proactive and action-oriented people who are comfortable with taking the initiative, within the boundaries of an organization, in pursuit of an innovative product or service.

“That’s a good idea, but…” It’s against company policy It’s not practical It’s not necessary We don’t have the resources It will cost too much We’ve never done it that way Our customers (or vendors) won’t like it It needs more study It’s not part of your job Let’s make a survey first

“That’s a good idea, but…” Let’s sit on it for a while That’s not our problem The boss won’t go for it The old timers won’t use it It’s too hard to administer Why hasn’t someone else suggested it before? Let’s form a committee We should wait until the economy improves Who else has tried it? Is it best practice?

21 st Century Stool Theory Economic Development Technical Assistance

Statewide Resources for Existing Businesses Innovate Washington Export Finance Assistance Center of Washington Washington State Microenterprise Association Impact Washington Center for Economic Vitality (WWU) Small Business Development Centers Gov. Office of Regulatory Assistance Small Business Solutions

New Tools for Existing Businesses Small Business Credit Initiative State Trade and Export Promotion

Frank Perdue's chicken slogan, "it takes a strong man to make a tender chicken" was translated into Spanish as "it takes an aroused man to make a chicken affectionate." If he gets cute with me I’ll break more than a couple eggs.

Export Businesses Have......a vision of world trade...an understanding of others culture and their dynamics...the drive to define, measure and open markets

Economic Leakage

You see, Timmie

What you are thinking at this very moment I learned some new things in this presentation I would like to buy this guy a drink later on I can’t believe I have to listen to one more presentation