Economic Growth In Hennepin County William C Brumfield

Economic Growth In Hennepin County

William C. Brumfield • Director of Hennepin County Department of Training & Employment Assistance • Chair, of the Hennepin County Economic Growth Committee • Co-Chair of the National Workforce Association Economic Development Cmte. 2

STRATEGIES Integrating Workforce Development and Economic Development

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What is Great North? • Regional Civic Leadership for – Global Competitiveness – Superior Quality of Life for All Citizens – Preservation of Core Community Values • Visioning, Encouraging, Convening 5

What is the New Economy? • A Source of Competitive Advantage – Not a set of Industries (e. g. High Tech) • Some Competitive Factors – Speed – Quality – Flexibility – Knowledge – Networks 6

Influencing Innovation • Innovation Doesn’t Just Happen – “Chance favors the prepared mind. ” – “Opportunity dances with those who are on the dance floor. ” • Visioning and Persistent Measuring 7

Opportunity Forecast 1 Current Economic Position from Legacy of Community Investment (Results) 2 Capacity of the Innovation Process 3 Development Capacity / Resources 8

Measures PROCESS RESULTS • Current position – – – Prosperity Character Drawing Power • Innovation – – – Research Commercialization Entrepreneurial Energy CAPACITY • Resources – – – Labor force Infrastructure Economic Momentum 9

Economic Growth in Hennepin County 10

Economic Growth Oversight Committee Purpose and Goals

STRATEGIES TO ENSURE ECONOMIC COMPETITIVENESS • Supporting tax base enhancement • Promoting employment growth & developing the labor force • Developing technological infrastructure • Providing basic infrastructure (transportation, service buildings and clean up of contaminated land) • Providing infrastructure amenities (libraries, parks) • Supporting housing & development activities • Monitoring developing issues and concerns 12

Advise County Board • Identify specific funding alternatives • Limiting financial risk and exposure • Limiting county involvement to one-time expenditures • Meeting all legal requirements 13

Useful Links Business Relocation Survey Chambers of Commerce Convention and Visitors Bureau Economic Information Incentives: Foreign Trade Zone Industry Statistics Industry Specialists Land Use Mps Licenses and Permits Minneapolis-St. Paul International Airport 14

Useful Information Links : Starting your business http: //www. sbaonline. sba. gov/starting Expanding your business http: //www. sbaonline. sba. gov/expanding Business startup FAQ's http: //www. sbaonline. sba. gov/starting/faqs Guide to small Business Resources http: //www. geocities. com/Wall. Street/2172 Small Business Administration http: //www. sbaonline. sba. gov Small Business Toolkit http: //www. bizjournals. com/extraedge/toolbox 15

Cities in Hennepin County 16

Partners In Progress • A consortium including local government, post-secondary educational institutions, community based organizations, employment & training providers • Develop a plan to assess the unmet skills needs of incumbent workers/dislocated workers • Identify a plan of action for training these workers • Identify gaps needed to fill the unmet employment needs of regional businesses 17

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“WORKFORCE DEVELOPMENT IS ECONOMIC DEVELOPMENT” Minnesota Governor Jesse Ventura 2001 State of the State Address January 4, 2001