Transcript Commerce OH slide set - Collaborating Partners

Partnering to Promote
Economic Growth
February 13, 2006
What is Economic
Development?
It is the process by which a
community organizes and then
applies its energies to the tasks
of improving the economic wellbeing and quality of life for the
community. Economic
development is an investment in
the community.
WEDI
Why Economic
Development?
Creating and Retaining Desirable Jobs
Increasing the Tax Base
Providing Services and Paying the Bills
Maintaining a Strong Economy
Economic Development
A Dynamic Process
 Global economy
 Mergers and restructuring
 Shifting market preferences
 Must be alert for new opportunities to
diversify local economies
Components of
Economic Development
A.Organizational Development
B.Infrastructure Development
C.Business Development
D.Workforce Development
E. Community Cash Flow Development
Department of
Commerce
Resources
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)
Area
Development
Managers
Region 1: William Lehman
715/656-3530
Region 2: Marty Ambros
715/836-2630
Region 3: Deb Clements
715/344-1381
Region 4: Dennis Russell
920/498-6302
Region 5: William Winter
608/647-4613
Region 6: Kathy Heady
608/266-9944
Region 7: Dave Martens
608/261-7711
Resources for:
Entrepreneurs
Fixed Assets & Working Capital
Customized Employee Training
Technology Development
Community Infrastructure
Brownfields Redevelopment
Local Economic
Development Contacts
County or Multi-County Development
Corporations
Municipal or County Government
Utilities
Chambers of Commerce
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
Local Development
Organization Resources
 Revolving Loan Funds
 Site Selection
 Small Business Counseling
 Business Incubators
 Information and Much More …
“…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
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)
Early Care and Economic
Development
 Early Care as an Economic Sector
 Early Care is Important to Working Parents
and Employers
 Early Learning is an Important First Step in
Future Workforce Development
Early Care as an Economic
Sector
 Significant Employment Base
 Small Businesses
 Multiplier Impact (Direct, Indirect, Induced)
Early Care – Labor Force
 Labor Force Participation – 2004 - % Children
under 6 with all parents in labor Force – 66%
 Labor Shortages
 Business Partnerships
Early Learning Key to
Future Workforce
 Return on Investment – (Belfield & Winters
Study and others)
 Achievement Gap
Working Together
 Experience working with companies
 Marketing buildings and labor
resources to expanding businesses
 Resources to help companies stay in
business
 Entrepreneurial Assistance
Communications
 Internet: www.commerce.wi.gov
 Phone: See Area Development Manager Map
 Entrepreneurs Network: www.wenportal.org
 SBDC Answerline: 1/800-940-SBDC