ECONOMIC DEVELOPMENT

Gary L. Toebben

L.A. Area Chamber of Commerce

November 29, 2006

GOALS

JOBS

TAX BASE

QUALITY OF LIFE

Economic development is about adding basic jobs to your local community.

Basic jobs-bring new $ to the economy

Secondary jobs-circulate the basic $ in the economy.

SUCCESS IN CREATING NEW BASIC JOBS IS DEPENDENT ON:

Quality of the product.

Marketing and service of economic development representatives.

Attitude of elected officials.

QUALITY OF THE PRODUCT

Workforce

Land/buildings

Infrastructure

Support services

Quality of life

MARKETING & SERVICE OF ECONOMIC DEVELOPMENT

REPRESENTATIVES

Good website and collateral materials

Responsive service

Aggressive follow-up

Professionalism

ATTITUDE OF ELECTED OFFICIALS

Economic development is a high priority.

City/County staff are helpful and supportive.

Tax policies and regulations are viewed as fair and consistent.

Business is treated as a partner-not an adversary.

COMPANY CHOICES

Basic jobs have many location choices.

Secondary jobs follow population growth.

ELECTED OFFICIALS ARE KEY

When elected officials don’t care about economic development or give the perception of caring about economic development

BASIC JOBS SAY:

“I can go elsewhere”

Can’t place the company at a disadvantage against their national or global competition.

SECONDARY JOBS

Secondary jobs are more willing to fight the red tape in order to beat their local competition and serve the population growth.

CHALLENGE

The average elected official does not know the difference between a basic job, that usually pays higher wages and benefits, and a secondary job that is often in the service or retail category and pays lower wages and benefits.

Chambers of Commerce in California must help elected officials understand:

The importance of retaining the basic jobs we have-and creating more.

The important role they play in retaining and attracting basic jobs.

We also have the job of helping elected officials understand the important role they play in retaining and attracting basic jobs.