Driving Washington’s Prosperity: Egils Milbergs strategic plan update
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Transcript of Driving Washington’s Prosperity: Egils Milbergs strategic plan update
Egils Milbergs Executive Director
Washington Economic Development Commission Olympia, Washington
www.wedc.wa.gov [email protected]
360-586-5661
Driving Washington’s Prosperity A Strategy for Job Creation and Competitiveness
January 9, 2013
1 WA Economic Development Commission
Commission Members
WA Economic Development Commission 2
A Ten Year Vision Make Washington the most attractive, creative and fertile
environment for innovation in the world by 2020 3 WA Economic Development Commission
New Approach for Economic Development
Traditional Model Innovation Model
Attracting companies Investing in talent, ideas and infrastructure
Jobs Incomes
Top Down Development Bottom-up organic growth
Closed innovation Open innovation
Competing regions Collaborating regions
Geographic clusters Globally linked networks
4 WA Economic Development Commission
The problem we need to solve!
5 WA Economic Development Commission Data source: U.S. Bureau of Labor Statistics
-75.67
-200
-150
-100
-50
0
50
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57
Diffe
renc
e w
ith In
itial
Per
iod
Empl
oym
ent
(Tho
usan
ds o
f Wor
kers
)
Months of Recovery
2001 Recession (3 quarters)Since Q4 2007
Largest Absolute Changes in Employment October 2012 year-over-year, based on 3 month moving average
Data source: Washington State Employment Security Department. WA Economic Development Commission 6
The Great Policy Reset
FROM • Job Preservation • Shovel Ready • Expand Safety Net • Consumption • Debt • Top-down macro
strategies
TO • Job Creation • Innovation • Upgrading Skills • Investment • Exports • Bottom-up organic
strategies
7 WA Economic Development Commission
What do we need to do? Progress needed along five drivers
Intellect Investment
Regulations Infrastructure
International
8 WA Economic Development Commission
Driver One: Fueling the Future—Making Talent a Top Priority
WA Economic Development Commission 9
Technical Prof
Technical
Unskilled
Prof
Unskilled
1. Create jobs for Washingtonians and industry needs by achieving 60% post-secondary degrees & credentials.
2. Increase pool of qualified workers by emphasis on STEM proficiencies and career and technical education at the HS level.
3. Fill critical skills gaps and grow new enterprises by attracting and retaining world’s best and brightest minds and funding education in high demand occupations.
4. Upgrade skills of the unemployed through expanded flexibility of unemployment programs to support training where job vacancies exist.
Driver Two: Adding Horsepower—Investing in Entrepreneurship
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1. Improve tax and regulatory policy to foster growth of start-ups and job creating business clusters
2. Invest in World class research talent, assist new enterprise formation and connect the state's research base to industry, entrepreneurs and investors.
3. Leverage job creating potential of the innovation ecosystems through large scale collaboration and competing aggressively for federal, foundation and private funds.
WA Economic Development Commission
Pillar Three: Paving the Way—Connecting through Reliable Infrastructure
1. Implement alternative financing mechanisms for transportation infrastructure for asset preservation, freight mobility and investment in economic corridors.
2. Prioritize the most critical infrastructure challenges and lead globally in energy efficiency, clean water, advanced manufacturing, cyber-security, sustainable urban design and broadband deployment.
3. Require economic development and long term job creation criteria the capital budgeting process.
11 WA Economic Development Commission
Driver Four: Running Lean—Regulating Smarter
WA Economic Development Commission 12
1. Systematically review on sector-by-sector basis all state regulations for their cost-effectiveness and determine overlaps, excessive costs, obsolescence, redundancy and solutions.
2. Expand agency use of lean process improvement to lower cost of regulatory compliance and reduce time delays.
3. Create navigator service for industry to manage their interaction with the regulatory system, including a comprehensive online portal for regulatory compliance.
Pillar Five: Firing on all Cylinders--Expanding International Business
1. Intensify innovation and collaboration in the Pacific Northwest economic region and support cross-border projects for economic diversification, expanded trade and jobs.
2. Drive job creation through a coordinated system of trade services between the programs of Washington State and regional and federal programs.
3. Strengthen export assistance services and re-establish overseas representation.
4. Double state-led, cluster based trade missions to increase new-to-market exporting firms.
WA Economic Development Commission 13
15 Innovation Partnership Zones
WA Economic Development Commission
• Bellingham Innovation Zone • Aerospace Convergence Zone • North Olympic IPZ • Tri-Cities Research District • S. Lake Union Life Science IPZ • Spokane University District IPZ • Bothell Biomedical
Manufacturing Corridor • Central Washington Resource
Energy Collaborative • Grays Harbor Sustainable
Industries • Pullman –Clean Tech Industries • Walla Walla IPZ • Interactive Media and Digital
Arts • King County Financial Services
Collaborative • Urban Center for Innovative
Partnerships, Auburn • Urban Clean Water Technology
Zone, Tacoma
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IPZ Innovation Framework
Relationship Capital IPZ Ecosystem
• Industry • Research • Workforce • Entrepreneurs • Capital • Infrastructure • EDCs • Etc…..
Bottom-up Engagement
Collective Efficiency
Investments Projects Strategy
Strengths & Weaknesses
Joint Innovation Opportunities
OUTCOMES
Prepared by Egils Milbergs v.1.1
Barriers to Interaction
WA Economic Development Commission 15
17
September 2012 we celebrated Commerce & Innovation Economy with 25 events, symposia and demonstrations. Link: www.thenextfifty.org
WA Economic Development Commission
Thank you!
WA Economic Development Commission 18
“Sooner or later, we sit down to a banquet of consequences”
– Robert Louis Stevenson