Sample Solution-Community #5

Community Economic Development

Municipal Community Economic Development Model

Challenge:
Create a corporate community to fuel an economic engine that will drive bottom line profits.  Improve the momentum, performance and perception of a city’s economic development efforts.

Corporate Community Solution:
Created a new overarching structure with participation from public sector, corporations and community groups/not-for-profits for a mid-size municipality that was attempting to enhance their economic development efforts while strengthening their capability to deliver social services. 

Important and helpful concepts, included the ‘industry cluster’ concept, suggestions for cooperative marketing/advertising and the notion of global ‘model markets’ to the new CEO of the privatized Economic Development Corporation.  Work with new and existing local business coalitions led to the privatization of the city’s economic development department, and eventually helped to improve business attraction and retention. 

Results:
Community-based economic development efforts were stimulated with a new model for synergistic success supported by research and video case studies.  Community partners included:
•    The Chamber of Commerce
•    Hotel Association
•    Restaurant Association
•    community groups
•    elected officials
•    City Manager
•    Local University Administration,Vice-President, Business School and Municipal Affairs experts.