Knocking the Rust Off the Rust Belt. Port Authorities as Economic Development Leaders

Transcription

1 Knocking the Rust Off the Rust Belt Port Authorities as Economic Development Leaders

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9 Economic Growth LOCAL SYSTEM ANALYSIS AND STRATEGY DEVELOPMENT Spring 2004

10 Who We Are Toledo-Lucas County Port Authority, Regional Growth Partnership, Lucas County Commissioners, Toledo Area Chamber of Commerce, City of Toledo, University of Toledo, Bowling Green State University and all who want to see economic development in the region move forward

11 We Are Here To Seek Your Input

12 What We Want To Accomplish Create Jobs Retain Jobs Attract Jobs Position For The Future

13 We Have Not Been Sitting Still We have a sense of urgency to improve collaboration and move forward with confidence

14 Contributions Of The Development Team And Our Partners Facilitated projects worth nearly $900 million of new investment in Lucas County including: Libbey, Inc Dana Tech Center ProMedica HCR Manor Care GM-Powertrain

15 Contributions Of The Development Team And Our Partners Refinanced Owens Corning World Headquarters to retain 1000 jobs Secured U.S. Coking Group s intent to build new production facility creating 165 jobs Funded high bay shipbuilding facility to create 100 new jobs

16 Contributions Of The Development Team And Our Partners Created nationally recognized Brownfield Remediation Program Secured $800,000 in state grants to support technology incubation and commercialization initiative Assisted DaimlerChrysler suppliers such as TRW, Johnson Controls, and the DaimlerChrysler Logistics Center in location efforts

17 Contributions Of The Development Team And Our Partners Laid the groundwork for expansion of the MCO Technology Park Established Triad Business Park Expanded Toledo Express Passenger Terminal Laid groundwork for Marina District Development

18 Contributions Of The Development Team And Our Partners Funded Cherry Bancroft Summit Corridor Coalition activities Partnered with UT in developing the Intermodal Transportation Institute interchange Secured federal funding for a Small Turbine Institute to retain local jobs

19 Contributions Of The Development Team And Our Partners Acquired land for Dussel Road Interchange Technology has become a centerpiece of economic development strategy and action Enhanced our comprehensive business retention program Financed local business development

20 Our Drive to a Better Future Identify what needs to be done Empower leadership Do it

21 The Vision What We Need to Achieve as a Region NW Ohio a diverse world class region, made up of sustainable communities that offer a high quality of life for all residents; a vibrant strong urban core that contributes positively to the region s overall vitality and economic strength; and opportunities for economic prosperity and good jobs for all.

22 We Know That We must work together We must be accountable and achieve results We must be more inclusive and committed to diversity

23 We Know That We must ensure return on investment We know that businesses want a single source service center they want to know who to call

24 Most Immediate Objectives Maintain focus - identify what else needs to be done Clarify leadership roles Explore organizational and job creating ideas within the county and the region Eliminate duplication of services Provide innovative financing for capital investment and neighborhood and community development

25 What We Have Done To Date Identified service gaps Commissioned the Hammer, Siler, George Study Enhanced RGP s Action Plan Identified a focused regional Economic Development Strategy based on industry clusters

26 Targeted Industry Cluster Strategy Successful Industry Clusters are broad networks of companies, suppliers, service firms, academic institutions, and organizations in related industries that together bring new products or services to market. Economic clusters enable regions to realize higher average wages, job creation, productivity, rates of business formation, and innovation.

27 Effectiveness of Cluster-Based Economic Development Capitalizes on the physical proximity of existing local firms Rests on comprehensive data analysis Targets bottlenecks and missing links in the supply chain

28 Cluster-Based Economic Development Is Market-driven helps demand and supply side work together Inclusive includes large and small companies Collaborative emphasizes collaborative solutions to regional issues Strategic helps stakeholders create a vision

29 Cluster-Based Economic Development Is Value-Creating improves depth (more suppliers) and breadth (more industries) to increase regional income

30 Effectiveness of Cluster-Based Economic Development Cluster-based economic development strategy simultaneously links three traditionally independent development functions

31 Every 1% Of Growth In The Top Five Clusters Will Produce At least 640 jobs annually with higher than average wages A significant number of spin-off jobs within the cluster and the community

32 Industry Clusters That Have Historically Driven Our Economic Output Automotive Transportation Containers glass and plastic Architectural and Engineering Services Fabricated Rubber Products

33 There Are Many Other Possible Growth Industries

34 What Needs To Be Done Meet the needs of existing businesses Create effective land assembly, preparation and packaging Create cost-effective outreach marketing and business attraction Continue to support and capitalize on the strengths of our transportation system and location advantages

35 What Needs To Be Done Provide adequate funding and support for entrepreneurial and small business development Ensure that our workforce is strong and meets the needs of our businesses Fully engage our universities in our economic development strategies

36 What Needs To Be Done Coordinate and strengthen efforts to expand the role of technology in our economy Implement Target Industry Cluster Strategy We need to approach economic development in a new coordinated way

37 What Needs To Be Done Focus on Improving The System

38 How Our Current Economic Development System Looks

39 What This Matrix Shows Us How many organizations are involved in economic development That there are many duplicated services as well as service gaps That unless we cooperate, a unified, functional and efficient approach will be difficult We need a new approach

40 How We Could Coordinate Economic Development Services in Lucas County

41 The TLC-CIC Would Be accountable for public funds for economic development Conduct a full range of economic development activities Be an effective component of a regional economic development system Be inclusive of our diverse community

42 How A New Regional Economic Development System Might Look

43 The New Regional Economic Development System Would Provide services and staffing to the TLC-CIC through a management services contract Provide services and staffing to NORED through a management services contract Be a single source service provider

44 Why Is RGP At The Center Of This New Matrix? RGP will combine private sector leadership, university leadership, and community leadership The cluster study is most successful if implemented on a regional basis RGP has a relationship with NORED and others within the region RGP can maximize resources and eliminate duplication in Lucas County

45 Why Is RGP At The Center Of This New Matrix? RGP has built better linkages with the area universities and colleges, including: Bringing those higher-education presidents to its Board of Directors Working closely with the universities on the cluster study model for enhanced retention and expansion programs with local companies Partnering to attract state and federal grants

46 Why Is RGP At The Center Of This New Matrix? RGP respects the need for a vital urban core for our region RGP worked with the State of Ohio to secure an $800,000 technology grant to: Help with the development of technologybased companies Build programs to provide incubation and commercialization services RGP s marketing and sales efforts are focused on targeted opportunities

47 Next Steps Consolidate Economic Development functions within Lucas County to ensure accountability and better results Enhance our Regional Economic Development Delivery System to implement our strategies Pass the levy to create and retain jobs in Lucas County and position us for future growth

48 Next Steps Your input and ideas!

49 What We Want To Accomplish Create Jobs Retain Jobs Attract Jobs Position For The Future