2. Today  Last Class  Social and Geographic Access to Employment  Economic Restructuring and Local Economic Development  Global Restructuring  Cluster-Based Strategies  Integrated Workforce System vs Labor Pools  Community Based Strategies  Ex III Project Progress?

3. Global Economic Restructuring  The Great U-Turn  From a manufacturing to a service economy  Economy producing mostly low paying jobs  Global networks of trade and production  Global markets, transnational corporations  Local economic development in that context.

4. Cluster-Based Strategies  “…geographic concentrations of interconnected companies, specialized suppliers, service providers and associated institutions in a particular field that are present in a nation or region.“ (Michael Porter)  With GLOBAL economic relationships/exports  Diversification is stabilizing  Locally: The Prosperity Partnership  15 clusters Regionally,5 pilot clusters

5. Clusters in the Puget Sound, 2004 A region’s strength relative to the nation. (http://www.psrc.org/assets/305/res.pdf)http://www.psrc.org/assets/305/res.pdf

6. Expected Growth in Puget Sound Clusters http:// www.psrc.org/assets/305/res.pdf

7. 2005-2010 Regional Economic Strategy For more info, see http://www.psrc.org/econdev/res/current-strategy/http://www.psrc.org/econdev/res/current-strategy/

8. Occupational Clusters  Industry clusters do not adequately describe a region’s competitiveness.  Skills with labor pools  “what regions do rather than make” (Feser 3002)  Occupations diversified across industries are more resilient to economic shock.  Firms make location decisions and have success based (largely) on the labor availabily and quality.

9. Integrated Workforce Development  Workforce Investment Act (WIA) of 1998  One-stop centers (in WA: WorkSource)  Labor Market Intermediaries  Dual Clientele  Firms  Prospective Employees  Community Colleges deliver (re)training  Career Ladders?  Well-paying occupations?

10. Local Economic Local Development Strategy (LEAD)  Beyond the market and the state  Community Development Corporations (CDCs)  eg: Southeast Effective Development (SEED)Southeast Effective Development (SEED)  Worker-owned firms  eg: Mondragon Mondragon  eg: Alvarado Street BakeryAlvarado Street Bakery  Community-owned enterprise  eg: Sarnac Lake Community StoreSarnac Lake Community Store  Community Development Finance Institutions (CDFIs)  Small-scale Entrepreneurship  Who controls capital? Assets?

11. Discussion Questions 1. Imbroscio and Porter offer two differing perspectives on how inner cities can engage in economic development and sustainability. What do you consider to be the most desirable roles for community-based organizations, local government, and privately owned businesses in developing the inner cities economic viability? 2. Given the export data on metropolitan areas noted by the Brookings Institute piece, reconsider your answer to the first question. 3. At the core of this debate are two differing perceptions of the State-Market division. Keeping in mind our recent trip to Skyway, and given what we have covered in this class thus far, what do you consider to be the main factors that leading to positive local economic growth over the long term?

12. Exercise III  Progress?  Questions?