1. by Mihailo Temali Published by Fieldstone Alliance Chapter 1: Community Economic Development—An Overview The Community Economic Development Handbook

2. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 2 What is Community Economic Development? “Community economic development is connecting the dots between people, land and money.” “It’s building on your local economy. It’s both assisting businesses to grow and residents to improve their income.” Ted Wysocki C.E.O. of Local Economic & Employment Development Council

3. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 3 Four Pivot Points of any Neighborhood Economy  Condition of commercial district  Entrepreneurs starting and maintaining small businesses  Local residents finding and keeping good jobs  Neighborhood businesses creating good jobs

4. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 4 Two Goals of Community Economic Development  Goal One: Improve the economic situation of local residents and local businesses Residents: Disposable income and assets Local businesses: Profitability and growth

5. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 5 Two Goals of Community Economic Development  Goal Two: Enhance the community’s quality of life Appearance Safety Gathering places Sense of positive momentum

6. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 6 Pivot Point One: The Commercial District  A neighborhood’s commercial district… The “face of the community” Perceptions = reality

7. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 7 Pivot Point Two: Developing Microbusinesses  Microbusinesses… Fewer than 5 employees Most low income neighborhoods lack opportunities and assistance Microbusinesses can: Fill vacant storefronts Create local jobs Bring positive momentum

8. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 8 Pivot Point Three: Developing the Community Workforce  Single largest economic problem… Unemployed or underemployed residents Needs: Training Job Placement

9. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 9 Pivot Point Four: Growing Good Neighborhood Jobs  Growing businesses need workers!  Good neighborhood jobs… Obtainable with various levels of experience Pay above minimum wage Benefits, career advancement opportunities

10. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 10 A Four Step Process to Community Economic Development 1.Assess current conditions 2.Create a vision and strategic plan 3.Implement your plan 4.Evaluate and improve your work

11. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 11 Step 1  Assess current conditions Answer: “Where are we now?” Assess organization’s capacity

12. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 12 Step 2  Create a vision and strategic plan Answer: “What do we want our community to look like in five or ten years?” Lay out one- and three-year goals

13. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 13 Step 3  Implement your plan “Plan your work…work your plan.”

14. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 14 Step 4  Evaluate and improve your work Monitor your outcomes You’re always learning…conditions are constantly changing

15. CHAPTER 1 Community Economic Development - An Overview Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org 15 Tips for Making It All Work…  Take one pivot point at a time  Give it time  Celebrate successes!