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Focusing on Regional Competitive Advantage

Focusing on Regional Competitive Advantage. Module Three. Producing a High Quality Plan: The Essential Components. Evidence-Based. Practical. Team’s Regional Plan . Aligned with Vision & Goals. Broadly Supported. Focused on Regional Economic Development . Overview of Module Three.

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Focusing on Regional Competitive Advantage

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  1. Focusing on Regional Competitive Advantage Module Three

  2. Producing a High Quality Plan: The Essential Components • Evidence-Based • Practical Team’s Regional Plan Aligned with Vision & Goals • Broadly Supported • Focused on Regional Economic Development

  3. Overview of Module Three • Investigate the region’s economic advantage • Explore regional data to identify regional industrial clusters • Deliverable: Select industry clusters for further exploration • HQP: Draft a rationale for industries selected

  4. EXPLORING COMPETITIVE ADVANTAGE

  5. Competitive Advantage Business shapes the economic value of a region, but places can help shape, nourish, and sustain local enterprises and industry.

  6. Exploring Competitive Advantage Based on Porter’s Diamond Theory – Porter, M. (1990)

  7. Demand Conditions What conditions influence demand for goods or services produced in the region?

  8. Factor Conditions • Infrastructure • Resources & Materials • Skilled Workforce

  9. Firm Strategy, Rivalry, Composition • Region’s portfolio of businesses • Entrepreneurship activity and support • Mix of industries

  10. Business and Industry INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE HERE

  11. Related and Supporting Industry Do industries buy and sell from each other regionally? Do any strong value chains exist in the region?

  12. Value Chain Example Wine Winemaking Equipment Grape Stock State Government Agencies Fertilizers, Pesticides, Herbicides Barrels Bottles Growers/ Vineyards Wineries/ Processing Facilities Caps & Corks Grape Harvesting Equipment Labels Public Relations & Advertising Irrigation Technology Educational, Research & Trade Organizations Specialized Publications California Agricultural Cluster Food Cluster Tourism Cluster Source: California Department of Food and Agriculture

  13. OVERVIEW OF INDUSTRY CLUSTERS

  14. Industry Clusters Defined Similar and related firms in a defined geographic area that share: • Common markets • Technologies • Worker skill needs • Buyer-seller relationships

  15. Two Types of Clusters Auto Industry • Value chains (Vertical clusters): working together toward a common product • Competing (horizontal clusters): drawing from the same raw materials, infrastructure, labor force Software Industry

  16. Overview of Clusters in Your Region

  17. Understanding Changes Moving Up or Down Growing Change in Percentage of Jobs in Industry over Time Declining

  18. Understanding Changes Moving Left or Right Relative Concentration of Industry in the Region Compared to the Nation Less More

  19. Understanding Changes PercentChange in Jobs over Time Location Quotient: Measure of Concentration of Industry

  20. Regional Clusters: 2002-2007 INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE HERE

  21. Regional Clusters: 2006-2011 INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE HERE

  22. Behind the Bubble Chart INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE – Move line to divide 1+ LQ Location Quotient more than 1 = Concentration

  23. Behind the Bubble Chart INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE – Adjust red circles to top 5 Industries with Greatest Percentage Growth

  24. Examining the Leaky Bucket The Regional Economy Goods or Services Purchased outside the Region $

  25. Looking at Regional Expenditures INSERT YOUR REGION’S CHART LIKE THIS EXAMPLE

  26. Regional Industrial Clusters: Digging Deeper • Identify the industries within the cluster • Determine if growing or declining • Evaluate regional capacity • Identify potential leakages & opportunities • Determine potential strengthening strategies

  27. Cluster Choices • Advanced Materials • Agribusiness, Food Processing & Technology • Apparel & Textiles • Arts, Entertainment, Recreation & Visitor Industries • Biomedical/Biotechnical (Life Sciences) • Business & Financial Services • Chemicals & Chemical Based Products • Computer & Electronic Product Manufacturing • Defense & Security • Education & Knowledge Creation • Electrical Equipment, Appliance & Component Manufacturing • Energy (Fossil & Renewable) • Fabricated Metal Product Manufacturing • Forest & Wood Products • Glass & Ceramics • Information Technology & Telecommunications • Machinery Manufacturing • Mining • Primary Metal Manufacturing • Printing & Publishing • Transportation & Logistics • Transportation Equipment Manufacturing

  28. Examining Clusters in the Region What industries: • Seem worth exploring further? • Should the region avoid investing for the future? • May be viable future regional industries? • Are declining but may be worth reviving?

  29. Looking Ahead to Module Four • Identify the economic leaks in the region • Explore basic avenues for strengthening clusters • Consider specific strategies within each avenue • Select potential directions for the region to explore

  30. Preparing for Module Four • Draft summary of why industries selected (HQP – evidence based) • Read the “C.A.R.E. for the Region” flow chart

  31. Final Reflections • What topics did you find most helpful? • What did you find confusing? • What other data do you need? • Other items you want to mention?

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