Evidence-Based Planning Goals: Getting Started Middle Rio Grande Economic Development Association Region SET Session 3 – Part 1 February 3, 2016

Middle Rio Grande Economic Development Region SET Session 3, February 3, 2016 AGENDA 9:00 – 9:20Welcome and Review 9:30 – 9:45A Goal Is … 9:45 – 10:45MRGEDA Region’s Targeted Industry Cluster Goals 10:45 – 11:00Break 11:00 – 12:00What Does It Take? (Resources) 12:00 – 12:15What Do We Have? (Assets) 12:15 – 12:30What’s Next?

What You’ve Done So Far: Three Important Activities Public input Key strengths and challenges outlined by residents Forum Snapshot of the region Further fine tuning of the region’s strengths and challenges Initial draft of opportunities Data Deeper dive into the economy Assessment of regional clusters Listing of possible opportunities Economy Final List of 3-5 Opportunities

Middle Rio Grande Economic Development Association Region MRGEDA Region’s Targeted Industry Clusters Agribusiness, Food Processing and Technology Arts, Entertainment, Recreation and Visitor Industries Renewable Energy, Forest and Wood Products Technology (ITT, Defense and Security)  Recognize that Business and Financial Services are an important part of all industry clusters.

Connecting Opportunities to Assets: A Crucial Step in Selecting Your Goals OpportunitiesAssets in the RegionGoals to Pursue

Outline of Session Three Topics Community Capitals Framework Your Team’s Assets Regional Opportunities: What Assets Are Available? Recognizing Potential Barriers Building Regional Goals: A Start

Thinking of Your Destination: Be SMART

An observable and measurable outcome that you want to achieve within a specific period of time. Goals are focused on outcomes and/or impacts. A Goal Is...

What do you want to achieve? Where will you focus your efforts? S pecific How do you plan to measure progress toward the goal? What is the end result and milestones along the way? M easurable Do you have the resources to achieve the goal? What factors might prevent achieving these goals? A ttainable Is this important for your region? Does this matter or bring benefit to the region? R elevant When do you want to achieve your goal? What is the target date for accomplishing the goal? T ime Framed Adapted from: Heathfield, S.M. (2011)

SMART Goal Example: an Ideal Example Increase the survival rate of new business start- ups (less than 5-years-old) from 50% to 75% in the region by December 2018 *NOTE: A goal focuses on what changes or results you want to have happen as a result of the programs and strategies you are proposing to carry out.

SMART Goal : An Ideal Example Increase the survival rate of new business start-ups (less than 5-years-old) from 50% to 75% in Plains County by Dec Relevant & Specific Attainable Measurable Specific Time-Framed

MRGEDA Region Targeted Industry Clusters WRITE Three SMART Goals for Each Industry Cluster Goals may pertain to: Jobs, Incomes, Infrastructure, Workforce, Business Development (C.A.R.E.), Industry Mix/Diversity, Access to Capital, Taxes, Regulations, the Environment, other

Your Goals SMART Goal SMART Goal

The Seven Community Capitals Source: Chart developed by the Purdue Center for Regional Development Vibrant and Economically Healthy Regions

Seven Community Capitals Framework The Seven Community Capitals framework allows the community to identify and mobilize the assets of individuals, associations, and institutions already present in the community to realize its economic development opportunities and address its needs first …. before pursuing outside resources – financial and technical.

Next Steps Connecting Community Capitals Regional Opportunities/Goals: What Assets Are Available Recognizing Potential Barriers

Michael Patrick New Mexico Cooperative Extension Service (575) Terry McDermott USDA Rural Development-New Mexico (505) Deb Caldwell Middle Rio Grande Economic Development Association (575) Michael Patrick New Mexico Cooperative Extension Service (575) Terry McDermott USDA Rural Development-New Mexico (505)