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Brice Harris Los Rios Community Colleges Next Economy Leadership Team

Brice Harris Los Rios Community Colleges Next Economy Leadership Team. “ We are in a ‘self-help’ regional economic environment, and the trick is to overcome the inherent competition between political entities within regions. ” —Marek Gootman, Brookings Institute. Next Economy :.

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Brice Harris Los Rios Community Colleges Next Economy Leadership Team

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  1. Brice Harris Los Rios Community Colleges Next Economy Leadership Team

  2. “ We are in a ‘self-help’ regional economic environment, and the trick is to overcome the inherent competition between political entities within regions. ” —Marek Gootman, Brookings Institute

  3. Next Economy: Economic revitalization planning effort

  4. Next Economy: Will result in… A Capital Region Prosperity Plan

  5. Economic Realities: • Government, construction, and related finance sectors hardest hit • Region jobless rate = 12%(vs. 8.3% nationally) • In terms of growth, Sacramento ranks number 345out of 372 US metro regions • Employment level today is on par with Y2000 levels

  6. Economic Forecast: • Forecastsindicate a regional recovery is years away • Waiting for political leaders to take action may not work • Lack of State’s ability to drive job creation and business growth is forcing regional leaders to lead from the bottom-up

  7. Next Economy: It’s all about… Generating jobs and creating wealth

  8. 11-Month Summary: • Formed coalition of 260+ private/public sector organizations • Fielded leadership and project steering groups • Completed in-depth research and analysis • Convened many public work sessions • Conducted 50 formal outreach presentations with more ahead

  9. Research Conducted: • Regional Trends • Regional Economic Conditions • Regional Cluster Analysis • Base Economic Foundations Evaluation • Economic Development Ecosystem Analysis • Innovations Scorecard

  10. Regional Cluster Identification: Where to focus our energy?

  11. Regional Cluster Identification: A cluster??? Spans multiple industries/sectors

  12. Viable Clusters: Job growth and wealth creation can be achieved by putting our focus in the right place… Which of our regions cluster have the potential for highest impacts?

  13. Research uncovered our strongest business clusters: • Life sciences & Health services. $8.64B annual output. 98,646 total employment. • Information & Communications Technology. $9.69B annual output. 30,096 total employment. • Agriculture & Food production.$3.4B annual output. 37,442 total employment. • Advanced manufacturing. $1.74B annual output. 11,409 total employment. • Clean Energy Technology.$846M annual output. 3,015 total employment.

  14. Fielded workgroups by clusters areas to uncover impediments & opportunities Information & Comm. Technology Clean Energy Technology Food & Agriculture Advanced Manufacturing Health & Life sciences

  15. Research also uncovered our strongest economic foundations: • Education & Knowledge Creation.$1.11B annual output. 16,618 total employment. • Knowledge intensive business and Financial services. $18.22B annual output. 69,683 total employment.

  16. Fielded workgroups by clusters areas to uncover impediments & opportunities Information & Comm. Technology Clean Energy Technology Food & Agriculture Advanced Manufacturing Health & Life sciences Innovations (Private capital; tech transfer; entrepreneur support)

  17. Fielded workgroups by clusters areas to uncover impediments & opportunities Information & Comm. Technology Clean Energy Technology Food & Agriculture Advanced Manufacturing Health & Life sciences Innovations (Private capital; tech transfer; entrepreneur support) Regional Identity

  18. Fielded workgroups by clusters areas to uncover impediments & opportunities Information & Comm. Technology Clean Energy Technology Food & Agriculture Advanced Manufacturing Health & Life sciences Innovations (Private capital; tech transfer; entrepreneur support) Regional Identity Education / Workforce / Talent

  19. Bolstering Our Economy (economic drivers for joint action) The Plan Structure: Regional “CEDS” Transformative Strategies (5-year horizon) Business Acceleration (12-month cluster-specific action plans)

  20. Economic Drivers: Bolstering Our Economy (8 economic drivers for joint action) * Emergedout of extensive research and expert input * Are focus areas for job & wealth creation * Drive business cluster growth and expand our economic base

  21. Our Economic Drivers Guideposts for joint regional economic development

  22. CREATEnew public-private capital investment streams INSPIRE a shared regional image and leverage our strengths INCREASE entrepreneur & small biz support Next Economy identified 8 specific inter-related regional economic drivers for joint action: INVEST in retaining, educating & attracting talent CAPITALIZE on university strengths for tech transfer & commercialization INVESTin region’s economic infrastructure & cultural & civic amenities REMOVE economic & regulatory barriers at all levels INCREASE foreign direct investment & export activity

  23. Transformative Strategies: Transformative Strategies (5-year horizon) * Catalytic in nature. * Long burn time to implementation. * Cut across the business clusters. * Support the economic drivers.

  24. Transformative Strategies Catalytic Activities

  25. Transformative Strategies: • Innovation Partnership Fund (iFund) • Create a pooled funding mechanism • Business Accelerator(s) • Services for business & entrepreneur start-up • Advanced Technology Hub • “One Health” region for bio and medical science • Brain-Gain • Building/attracting/retaining high-skilled talent

  26. ImplementationPlan: Business Acceleration (12-month cluster-specific action plans) * Cluster-based and organization-specific action plan. * Short implementation timeline. * Performance measures. * Clear owners/champions.

  27. Comprehensive Economic Development Strategy Regional CEDS * Region-wide in scope * Gateway to federal grants *Roadmapto diversify and strengthen regional economies

  28. Next Steps: • Base Research: Complete • Cluster work groups: Convened Feb-May; assessments and recommendations folded in • Core Strategies: Presented for public reaction May 4 • Regional Prosperity Plan: • Published June 30 with a 5-year horizon • Co-published with 1-year Implementation Action Plan with performance measures, owners identified. • Implementation: July 2012 and beyond

  29. “Initiatives such as Next Economy are the kinds of regional efforts that are necessary to drive American economic competitiveness and will become the defining model for growing jobs throughout our nation.” —Matthew Erskine, Acting Assistant Secretary of Commerce for Economic Development for EDA

  30. Stay Connected!: Sign up for news and updates at www.nexteconomycapitalregion.org

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