Open Source Economic Development

Community Empowerment

Oct 2010

Adjusting to the “New Normal”

•Which way should we go?•How did we get in this situation?

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Problem #1: Silos of purpose and direction

• The first area of attention for turn-around experts

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Problem #2: A focus on Self Interest

• Participating for “What’s in it for ME!”

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Problem #3: Systemic self-preservation

• Being the “expert”… and proud of it• Lack of true leadership• Keeping the best players off the field

COMMUNITYCLIENTS EDA

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Problem #4: No clear destination

• “When you don’t know where you’re going, any road will get you there.” George Harrison

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The results:

EDA

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The GOAL:

ED

A

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Economic Development must:•Create the ultimate environment for

business success•Provide community leadership – influence

at all levels for all the right reasons•Be a “community concierge” internally

and externally --- working at a high level!•Have a plan

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Why we do economic development:

• It’s not about “What’s in it for Me!”, it’s about: Our kids Our grand-kids The future of our community Paying forward

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Economic Development is broad based community development:

•Leadership•Workforce •Entrepreneurism•Capacity building•Existing business expansion and retention•New business recruitment

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So…how does open source become successful?

Create optimum business success climate Focus on the right reason for economic

development Define and manage brand Develop action plans and assemble proper

resources (Regional Action System) Focus on excellent customer service (execution)

Make constant adjustments as necessary (management)

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Create a system of community involvement through action committees Bring along the community at large through communications Form marketing targets based on “best case for success” “what do we want to be when we grow up” “Open Up” the business development process Continue to make constant adjustments

And, we also:

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Were all in it together – Our binding philosophy and

moral compass: Everything is connected to everything else Scarcity vs. Shared Abundance

A belief that there is enough for everyone If we all work together towards a common cause;

we will all end up with more than we thought possible by ourselves

A focus on the future for our kids; not just ourselves

Being a giver

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Doing well while doing good!

If “open source” is like a barn raising… how many barns can we build for free before we run out of nails?

Defining the “Good” and the “Well” Maintaining vision and credibility Fulfilling our core mission of increasing each

and every business’ financial vitality… Including Yours!

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The Sierra Region of Nevada

The peaks, valleys and hills of the front range of the Sierra Nevada, where the climate for business

is perfect!

• The peaks, valleys and hills of the front range of the Sierra Nevada, where the climate for business is perfect!

Defining the brand:

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Action Committees

Division by major community verticals Not passive! Each committee with responsibilities

to recruitment, retention and expansion of business

Each committee drives its own purpose towards a common community vision, mission and goal(s)

The elected Chairman gets a seat on NNDA Board Committees meet monthly

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Action CommitteesCommittee Recruitment Retention Expansion

Commercial Real Estate

Team Leaders; work deals on rotation basis and conduct out of market sales

Identify problem companies through professional network

Bring more demand to region through cluster development

Workforce and Education

Integration with recruitment targets for workforce development

Addresses current business’ needs for skills

Drives future workforce maturity

Professional & Buss. Services

Provide needed services for incoming companies

Work with “endangered companies” to revive through better management

Assist companies in new market identification and strategic planning

Residential Real Estate

Market region through affiliated RE network

Housing programs for incoming recruited and relocation employees

Housing programs for incoming recruited and relocation employees

Marketing Regional branding and communications

Repositioning of at risk companies

Driving market expansion through better tools

Banking & Finance

Start up funding, equity and debt financing, financial transitions

Financial revivals through analysis and creativity

Expansion financing

Developers and Builders

Conducting marketing programs to increase prospects and leads to system

Identification of at risk businesses providing creative solutions -

Assisting companies with building modification solutions

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Special Committees

•Relocation Feasibility Committee Comprised of area CPAs and CFOs Recasts finances of prospects as if they had already

moved to Nevada; what would the bottom line really look like?

Provides client company’s CFO with accurate information to base decision to protect shareholder interest

•Government Communication between all levels of government Provides continuity and improvement of process Coordination of resource acquisition Prioritization of infrastructure development

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The NNDA Machine

CLIENTEDA

CRE TEAM LEADER

RELOCATION FEASIBILITY

WORKFORCE

PROF SVCSBANK & FINANCE

MARKETING

REALTORS

BUILDERS

SUCCESSFUL RELOCATIONS

GOVERNMENT

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CLIENTNNDA

CRE TEAM LEADER

RELOCATION FEASIBILITY

WORKFORCE

PROF SVCS

BANK & FINANCE

RESIDENTIAL RE

BUILDERS

DATA

SUCCESS TO CLIENT&

WEALTH TO THE COMMUNITY

GOVERNMENT

TECHNOLOGY

HEALTH CARE

AMBASSADORS

MANUFACTURING

Creating Marketing Targets

•Target Identification Current directions of development (if there)

Growth industry Jobs are high paying and career oriented Accessible market Workforce is developed are can be Region will work for company MOST IMPORTANT:FITS THE COMMUNITIES DESIRE OF“WHO WE WANT TO BE WHEN WE GROW UP”

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Creating Marketing Targets•Regional Target

Cleanroom and Controlled Environment Manufacturers Nine different industries depend on this

ability… large target with common denominator

Perfect climate for reducing operational costs On the ground expertise Existing companies in region Coordinated workforce development programs Identifiable market

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Creating Marketing Targets•Local Brand Targets

Carson City – High-tech digital Douglas County – Outdoor lifestyle

mfg/tourism Mound House – Roll up your sleeves mfg Silver Springs – Aviation Campus Smith & Mason Valleys – Advanced Ag TRIC – Large scale distribution and mfg Virginia City – Tourism (V&T + Wild West)

Washoe Tribe – Wellness

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Creating the Plan•Understand the process

An everlasting vision A doable mission with a “got there” date Measurable “goals” Identification of all “tactical elements” Strategic organization of tactics; it follows

not leads Mileposts as objectives; check them off by

the quarter Be ready to adjust!!!!

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Creating the Plan•The budget is born from the plan

With all tactics strategically organized, the timelines estimated, a costing and forecasted budget will naturally follow

•Resources are then sought Foundation Search Selling your plan Broadening the “investor partner” base

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Communicating the Values

•Community meetings through Sierra Regional Economic News (published every 1st and 3rd Sunday of

the month)

Sierra Region Social Media Platform (www.centerpointcommunity.com)

Partnering with other non-profits Sister agencies Government boards Anywhere the community gathers…

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Opening Up the Process•Trusting your players and team leaders

Everyone signs on, for the clients sake Every client is first “sold” on our system and

agrees to speak with multiple players Better to lose a deal, than lose the

community Setting up a communication system

Web Office Conduct “meaningful” meetings

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Opening Up the Process Provide Great Tools

RFI Proposal Template Keep Data Current

Use committee structure to accomplish data shepherding

Conduct Regular Training Use committee meetings to bring in training

opportunities Keep the vision fresh!

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An empowered community engaged in Open Source Economic Development will:• Increase community wealth•Provide new opportunity for all residents•Create an atmosphere desirable for

retaining the youth of the community•Grow the tax base and improve the depth

and breadth of community services

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Keep this thought in mind!•Economic Development is NOT a spectator sport!

It is a community effortwhere all hands must be on deck!

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