partnering to promote economic growth february 13, 2006
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Partnering to Promote Economic Growth February 13, 2006. What is Economic Development?. - PowerPoint PPT PresentationTRANSCRIPT
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Partnering to Promote Economic Growth
February 13, 2006
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What is Economic What is Economic Development?Development?
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It is the process by which a community organizes and then applies its energies to the tasks of improving the economic well-being and quality of life for the
community. Economic development is an investment in
the community. . WEDIWEDI
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Why Economic Development?
Creating and Retaining Desirable JobsIncreasing the Tax Base Providing Services and Paying the BillsMaintaining a Strong Economy
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Economic DevelopmentA Dynamic Process
Global economyMergers and restructuringShifting market preferencesMust be alert for new opportunities to
diversify local economies
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Components ofEconomic Development
A.Organizational Development
B.Infrastructure Development
C.Business Development
D.Workforce Development
E. Community Cash Flow Development
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Department of Department of Commerce Commerce ResourcesResources
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Bureau of Business Development
Coordinates and Facilitates Business Creation, Retention and Expansion Efforts in Wisconsin (Area Development Managers)
Underwrites, Contracts and Services Program
Funds (Business Finance)
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Region 1: William Lehman715/656-3530
Region 2: Marty Ambros715/836-2630
Region 3: Deb Clements 715/344-1381
Region 4: Dennis Russell920/498-6302
Region 5: William Winter608/647-4613
Region 6: Kathy Heady608/266-9944
Region 7: Dave Martens608/261-7711
Area Development
Managers
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Resources for:
EntrepreneursFixed Assets & Working CapitalCustomized Employee Training Technology DevelopmentCommunity InfrastructureBrownfields Redevelopment
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Local Economic Development Contacts
County or Multi-County Development Corporations
Municipal or County Government UtilitiesChambers of Commerce
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Local Development Organizations
Wisconsin Economic Development Association - www.weda.org
Economic Development Corporations or Chambers of Commerce -www.commerce.wi.gov - go to partner links on the more info menu
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Local Development Organization Resources
Revolving Loan FundsSite SelectionSmall Business CounselingBusiness Incubators Information and Much More …
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“…Early care and education is being recognized as an important economic sector in its own right, and as a critical piece of social
infrastructure that supports children’s development and
facilitates parents’ employment.”Anon. Cornell University Website
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WEDA Survey
WEDA Members Agree that Early Childhood Education is a critical Economic Development Strategy (48%)
Awareness is not shared by their local communities (44% no, 34% not sure)
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Early Care and Economic Development
Early Care as an Economic SectorEarly Care is Important to Working Parents
and Employers Early Learning is an Important First Step in
Future Workforce Development
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Early Care as an Economic Sector
Significant Employment BaseSmall BusinessesMultiplier Impact (Direct, Indirect, Induced)
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Early Care – Labor Force
Labor Force Participation – 2004 - % Children under 6 with all parents in labor Force – 66%
Labor Shortages Business Partnerships
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Early Learning Key to Future Workforce
Return on Investment – (Belfield & Winters Study and others)
Achievement Gap
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Working Together
Experience working with companiesMarketing buildings and labor
resources to expanding businessesResources to help companies stay in
businessEntrepreneurial Assistance
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Communications
Internet: www.commerce.wi.gov Phone: See Area Development Manager Map Entrepreneurs Network: www.wenportal.org SBDC Answerline: 1/800-940-SBDC
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