by mihailo temali published by fieldstone alliance chapter 1: community economic development—an...
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by Mihailo TemaliPublished by Fieldstone Alliance
Chapter 1: Community Economic Development—An Overview
The Community The Community Economic Development Economic Development HandbookHandbook
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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 WysockiC.E.O. of Local Economic & Employment Development Council
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Two Goals of Community Economic Development
Goal Two: Enhance the community’s quality of life
• Appearance
• Safety
• Gathering places
• Sense of positive momentum
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point One: The Commercial District
A neighborhood’s commercial district…
• The “face of the community”
• Perceptions = reality
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Pivot Point Three: Developing the Community Workforce
Single largest economic problem…
• Unemployed or underemployed residents
• Needs:• Training• Job Placement
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 1
Assess current conditions
• Answer: • “Where are we now?”• Assess organization’s capacity
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
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
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 3
Implement your plan
• “Plan your work…work your plan.”
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Step 4
Evaluate and improve your work
• Monitor your outcomes
• You’re always learning…conditions are constantly changing
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Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org
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CHAPTER 1Community Economic Development - An Overview
Tips for Making It All Work…
Take one pivot point at a time
Give it time
Celebrate successes!