Partnering to Promote Economic Growth February 13, 2006
Dec 25, 2015
Partnering to Promote Economic Growth
February 13, 2006
What is Economic What is Economic Development?Development?
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
Why Economic Development?
Creating and Retaining Desirable JobsIncreasing the Tax Base Providing Services and Paying the BillsMaintaining a Strong Economy
Economic DevelopmentA Dynamic Process
Global economy
Mergers and restructuring
Shifting market preferencesMust be alert for new opportunities to
diversify local economies
Components ofEconomic Development
A.Organizational Development
B.Infrastructure Development
C.Business Development
D.Workforce Development
E. Community Cash Flow Development
Department of Department of Commerce Commerce ResourcesResources
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)
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
Resources for:
EntrepreneursFixed Assets & Working CapitalCustomized Employee Training Technology DevelopmentCommunity InfrastructureBrownfields Redevelopment
Local Economic Development Contacts
County or Multi-County Development Corporations
Municipal or County Government UtilitiesChambers 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 FundsSite SelectionSmall Business CounselingBusiness 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 companiesMarketing buildings and labor
resources to expanding businessesResources to help companies stay in
businessEntrepreneurial Assistance
Communications
Internet: www.commerce.wi.gov
Phone: See Area Development Manager Map
Entrepreneurs Network: www.wenportal.org
SBDC Answerline: 1/800-940-SBDC