Transcript Southern Windsor Region February 2003 Springfield Regional Development Corporation Southern Windsor County Regional Planning Commission Springfield Regional Chamber of Commerce ANDOVER CAVENDISH LUDLOW SPRINGFIELD WEST WINDSOR BALTIMORE CHESTER READING WEATHERSFIELD WINDSOR.

Southern Windsor Region
February 2003
Springfield Regional Development Corporation
Southern Windsor County Regional Planning Commission
Springfield Regional Chamber of Commerce
ANDOVER
CAVENDISH
LUDLOW
SPRINGFIELD
WEST WINDSOR
BALTIMORE
CHESTER
READING
WEATHERSFIELD
WINDSOR
GOAL of the Strategic
Economic Development Plan:
To develop specific economic development strategies designed
to maximize the potential for renewed economic success in
southern Windsor County.
 Start with an in-depth understanding of factors influencing
current economic performance of the region.
 Focus on business and regional competitiveness.
 Develop strategies that build on our strengths and
overcome weaknesses.
 Broader definition of Economic Development than just
“jobs” of any kind.
Who We Are
Call For Action!
Long-term collaboration and cooperation
on all levels, regional and local, are
critical to this plan’s success
We Need Your Help!
The plan assumes a “Circle of Prosperity”
Economic health, a clean environment and social wellbeing are linked in a circle such that each supports the
other going forward.
A shared responsibility of government, private sector
and communities.
The plan assumes a “Circle of Prosperity”
How is this plan different from others?
Builds on past initiatives and efforts in the region.
Digs deeper to understand economic performance of
the region.
Establishes targeted strategies to improve our
competitive advantage.
The process…
Analysis of regional trends: Economic + Policy
Resources
Analysis of strategic industries in the region
Series of interviews with key businesses
Series of public meetings this past fall
Leadership committee feedback throughout the
process
What we have learned…
Markets are global
Technological innovation is advancing rapidly
Population is aging and growth has slowed,
particularly in Southern Windsor
Aging baby-boomers are more demanding of
“quality of life”
What we have learned…
Retention of existing businesses is critical
Growing new, locally controlled businesses is critical
Need to focus our existing resources and develop new
FOCUS on strategic industries
Identified strategic industries in the region.
Vision Statement:
To improve the quality of life of families in our
region and to retain more of our region’s young
people, we need a diverse base of globally
competitive, successful businesses. Achieving
that will be the result of a shared region-wide
effort to strengthen existing key businesses in
our region while constantly searching for and
capitalizing on new opportunities.
Certain key industries are major economic
drivers in Southern Windsor County:
They pay better and can be significant employers.
Produce dollar-importing, high value added goods
and/or services.
Offer job opportunities that have desirable laborproductivity attributes.
Have desirable capital investment profile the region
can support.
Certain key industries are major economic
drivers in Southern Windsor County:
Utilize natural resources including our workforce.
Offer an array of jobs for all ranges of the population.
They are the “focus” of strategic policy development.
Key regional industry sectors include:
Specialty Food Products
Publishing: electronic and other
Natural Resource based manufactured products
High Value-Added, Specialty Products manufacturing
Engineering Products and Design Support
Key regional industry sectors include:
Machine Tools
High Value-Added Professional, Scientific &
Technical Services
Destination Family Resorts and Recreation
New and emerging: renewable energy, export based
health care and retail destination
Circle of Prosperity
Strategy #1: Focused Efforts on Key
Industry Sectors in the Region
Limited resources - focus on those sectors that drive
activity in others
Strategic partners identified to implement all strategies
Create- Retain 120 jobs per year in those key industry
sectors
Strategy #2: Recruit and Retain
Businesses in Key Industry Sectors
Helps to meet the job creation target of 120 jobs per
year
Focuses on existing businesses
Attracts “new blood” to the business mix
Strategy #3: Enhance and Expand
Access to Capital
Create and/or partner with investment capital pools
Supplements existing funding sources both public
and private
Creates opportunities to grow and retain businesses
Creates alternatives to outside capital sources and
possible outside influences.
Strategy #4: Improve State and Local
Permitting
Drive process improvements with aim toward
balance
Eliminate duplication, conflict, unnecessary delay
Offer Local Technical Assistance to businesses
Pre-Permit suitable sites
Strategy #5: Establish Centers of
Innovation
Centers of Innovation concept
Collaboration between businesses and ed. institutions
Spinoff of new, collateral businesses
Cutting edge development
Strategy #6: Develop the Regions
Workforce
Ensure affordable and available skilled/dedicated
work force
Deliver training programs locally targeted to work
force needs
Engage senior management in leadership
development
Develop "passion" in the workforce, establish
means to measure results
Strategy #7: Promote Excellence in
Education and Work Based Learning
 Leverage new and existing "School-To-Work" Initiatives
 Establish Out-Reach Program between educators and business
Leaders
 Develop a "School Profile" to assist with business
recruitment/retention
 Measure School Districts impact on Circle of Prosperity
Strategy #8: Develop Incubators
in Strategic Industry Sectors
Growing the businesses of the future
Successful incubators generate jobs, short and longterm
Reinforce existing incubators and develop new projects
Make incubators self-sustaining
Strategy #9: Maintain and Enhance
our “Quality of Life”
Attract and retain young people
Reverse “Brain Drain”
Identify and build upon Cultural, Educational,
Social and other resources
Make region more attractive
Strategy #10: Develop More Options for
the Region’s Residents Over the Full Range of
Affordability-Prices:
Access to housing is key to quality of life
Connection with Upper Valley Housing Coalition
Develop programs for improving and increasing
affordable housing options
We need your help!
We need your help!
You are a part of the Circle of Prosperity
Get involved
• Fill out your feedback form
• Tell us what you think
• Sign up for a strategy team
Southern Windsor Region
February 2003
Thank You for participating!
ANDOVER
CAVENDISH
LUDLOW
SPRINGFIELD
WEST WINDSOR
BALTIMORE
CHESTER
READING
WEATHERSFIELD
WINDSOR
See the full plan at:
www.springfielddevelopment.org