RURAL ECONOMIC DEVELOPMENT A NEW APPROACH 2 Presenters

RURAL ECONOMIC DEVELOPMENT A NEW APPROACH

2 Presenters: Luke Holtschneider – Missouri DED Alan Spell – MERIC Dr. Sean Siebert – Invent Yourself, LLC

Luke Holtschneider Rural Development Liaison 3 2015 Governor's Conference on Economic

Rural Challenges 4 Population loss Deteriorating infrastructure Limited access to broadband Distance to health care Lack of high-tech talent – “Brain Drain”

Underdog Story 5 Place focus where it will benefit most Realistic expectations of potential outcome Build upon existing assets both locally and regionally Utilize all available resources True understanding of current situation

Secretary of Agriculture, Tom Vilsack 6 “I have reached the conclusion that we must overhaul our approach to economic development in rural America. The framework of the new effort recognizes that the rural economy of tomorrow will be a regional economy. No one community will prosper in isolation. ”

7 Approaches to Rural Development Asset-Based Regionalism Strong community and regional identity Engaged business and community leaders both locally and regionally

8 Asset-Based Economic Development Identify Evaluate Strategize Build upon existing local and regional resources � Natural resources � Local institutions � Existing infrastructure � Historic and cultural resources � Industry cluster � Human capital

Asset-Based Benefits 9 Local return on investment Job creation and retention Long-term, sustained economic growth Increase in local tax base Strengthening regional networks

10 Best Practices for Creating Rural Economic Vitality 1. 2. 3. 4. 5. 6. 7. Shop Local – Think Local – Support Local Business Retention and Expansion New Business Start-ups Downtown Revitalization Tourism Farmer’s Markets Support Entrepreneurs Source: Rural Development Initiatives, 2014

Alan Spell Research Manager, MERIC 2015 Governor's Conference on Economic

12 Understanding Assets: Starting with Data… §Socioeconomic Measures §Industry Trends §Infrastructure §Workforce §Entrepreneurship

Socioeconomic Measures 13 § Population Trends Age Income Employment Crawford County: § § § Population: 24, 650 Median Age: 40. 7 (MO 38, US 37. 3) Median HH Inc. : $36 K (MO $47 K, US $53 K) Census Bureau: http: //factfinder. census. gov Crawford County, Missouri

14 Population and Income Measures Headwaters Economics (US Forest Service): http: //headwaterseconomics. org/tools/economic-profilesystem § Metro and Non-Metro Context

Employment Measures 15 Headwaters Economics (US Forest Service): http: //headwaterseconomics. org/tools/economic-profilesystem § Metro and Non-Metro Context

Employment by Sector 16 § § What Industries Make Up Your Economy? Crawford County Manufacturing Employs 3 out of 10: Double Non-Metro US Manufacturing’s 14%. Relatively Lower Natural Resources & Gov. Employment Compared to U. S. Non-Metro (4% and 19% respectively) Headwaters Economics (US Forest Service) and BLS Quarterly Census of Employment and Wages: http: //headwaterseconomics. org/tools/economic-profile-system

Industry and Company Specialization What Sets You Apart and Links You to Other Areas. . . 17 Crawford County: § § § Crawford Co. Employment Specialization St. Louis Metro § § § § Business Services (Corp. HQ & Data) Education Financial Services Transportation Equip. Mfg. Upstream Metal Mfg. Biopharm. and Downstream Chem. Rolla Micro § § Printing Services (Paramount Apparel) Wood Products (Whiskey Barrels) Distribution, Transportation, Logistics Downstream Chem. Statewide § Electrical Equip. Mfg. (Meramec Elect. ) Cuba Chamber and U. S. Cluster Mapping (EDA): http: //www. clustermapping. us/ § Printing Services

Industry Specialization: Tourism 18 § § Route 66, Mural City Ozark Scene, Rivers and Camping Location Quotient Calculator (BLS): http: //data. bls. gov/location_quotient/

Infrastructure 19 § § Economic Centers Transportation § Population in 15 -Minute* Drive of 4 -Lane Hwy: 91% All Population 78% Non-Metro Population � *12 Miles used to estimate drive time. � � § § Broadband Missouri has 6 th Largest Highway System Four-Lane Highways, Cities +10 K Pop. with Buffer

Workforce 20 § § Commuting offers Income and Opportunities Over 60% of Employees Leave Crawford Co. for Work On-the-Map (Census): http: //onthemap. ces. census. gov/

Workforce 21 Higher Education Providers § 5 Institutions w/in 50 miles of Cuba: 1, 762 BA+ Awards in 2013/2014 1, 706 AA Awards in 013/2014 § § § 62 Computer/IT AA (IES College Navigator, 2 -4 Yr Only) Occupations § 87, 500 Occupations in 6 -Co. Area § (DED – MERIC) § Crawford County and 30 Mi. Radius of Cuba Job Seekers § � 4, 800 active jobs. mo. gov in 6 -Co. Area (DED – Div. of Workforce and MERIC)

Entrepreneurship 22 § Many Rural Counties have Higher Concentrations of Proprietors & Business Formations 2014 Business Formations https: //www. missourieconomy. org/pdfs/new_business_formations_2014. pdf Breadth: Many Counties are Concentrated in Proprietors Non-Farm Proprietors / Total Non-Farm Employment

Entrepreneurship 23 § Census Non-Employer Statistics and EMSI Estimates § Crawford County and 6 Surrounding Counties: § § 7, 100 Self-Employed § Top Industries: 27% Personal and Social Services 24% Construction 10% Admin. Services (Landscape, Janitorial, etc. ) 7% Retail Trade 6% Professional / Tech Mostly Local Services – How Do You Spur More…(Stay Tuned!)

Other Resources 24 Socio. Economic Indicators: Headwaters Economics (US Forest Service): http: //headwaterseconomics. org/tools/economic-profile-system Stats America (EDA): http: //statsamerica. org/ Fact. Finder (Census): http: //factfinder. census. gov/ Industry Trends and Strengths: Industry and Workforce Trends (Census/BLS): http: //qwiexplorer. ces. census. gov/ U. S. Cluster Mapping (EDA): http: //clustermapping. us/ County Explorer (NACO): http: //explorer. naco. org/ Education Providers: IES College Navigator: http: //nces. ed. gov/collegenavigator/ Entrepreneurship: County Business Patterns (Census): http: //www. census. gov/econ/cbp/ Self Employed (Census): http: //www. census. gov/econ/nonemployer/ Commuting: On-the-Map (Census): http: //onthemap. ces. census. gov/ MERIC Reports Regional Industry Analysis: https: //www. missourieconomy. org/regional/industry_analysis. stm Regional Labor Analysis: https: //www. missourieconomy. org/regional/labor_analysis. stm Regional Top Job Ads and Long-Term Openings: https: //www. missourieconomy. org/customer/statewide. stm Rural Missouri Asset Mapping: https: //www. missourieconomy. org/pdfs/rural_mo_asset_mapping. pdf

Data Takeaways 25 § § § Free, Powerful Data Tools Available Go Regional to Understand Bigger Picture Resources Available § § § Missouri Partnership Department of Economic Development MERIC University of Missouri Extension MEDC Oct. Conference: Moving from Data to Decisions

Adopt An Innovator An Economic Development Strategy of Community Development through Entrepreneurship & Innovation Dr. Sean Siebert

Adopt An Innovator Areas of Focus 27 (1) (2) Enhance the education of the workforce. Directly link education in the region to economic development in the region. (3) Establish a base of startup ventures. (4) Accelerate the growth of existing enterprise. (5) Create a culture of innovation.

28 Aug/Sept 2014 Oct/Nov 2014 Dec 2014 Jan/Feb 2015 Mar/Apr 2015 May 2015 Jun 2015 July 2015 Aug 2015 Sept 2015 Met w/ 20+ largest employers in the region Adopt An Innovator Entrepreneurship Program Youth Innovation Summit Adopt An Innovator Entrepreneurship Program Manufacturer/Employer Consortium Luncheon Adopt An Innovator Entrepreneurship Program Bourbon HS Ag Tech Park Project HS Entrepreneurship Tour Adopt An Innovator Program Celebration Adopt An Innovator Luncheon Launch Osage Trail Legacy Project Rural Innovation Pitch Competition Manufacturer/Employer Consortium Luncheon National Medical Billing Inc. Opens

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