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Growing Jobs and Wealth: Economic Gardening in Oregon

Growing Jobs and Wealth: Economic Gardening in Oregon. JOBS. $3,000 . JOBS. $3,000 . Too good to be true? Maybe not. Who We Are. Valerie Plummer , Executive Director of Oregon Microenterprise Network (OMEN), AEO Board Member Michael Gurton , Program Director of OMEN’s Marketlink

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Growing Jobs and Wealth: Economic Gardening in Oregon

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  1. Growing Jobs and Wealth: Economic Gardening in Oregon

  2. JOBS $3,000

  3. JOBS $3,000 Too good to be true? Maybe not.

  4. Who We Are • Valerie Plummer, Executive Director of Oregon Microenterprise Network (OMEN), AEO Board Member • Michael Gurton, Program Director of OMEN’s Marketlink • Bruce Sorte, Community Economist - Eastern Oregon; OSU Extension Service & AREc Rural Studies Program

  5. About the Oregon Microenterprise Network (OMEN) • Statewide network of small business development service providers • Dedicated to helping Oregon’s smallest businesses • Nonprofit 501 (c)(3) • Key services: • Capacity Building for organizations • Access to Capital • Access to Markets • Policy Development

  6. OMEN’s Statewide Network

  7. Heard this? • _____________ • _____________ • _____________ We could attract more companiesto Oregon if we just…

  8. Heard this? • _____________ • _____________ • _____________ We could grow more companies in Oregon if we just…

  9. Q: Where’s the job growth? A: Local companies with <100 employees. Source: National Establishment Time Series

  10. What are second stage businesses? “Second-stage companies are those that have grown past the startup stage but have not grown to maturity. They have enough employees to exceed the comfortable control span of one owner/CEO and benefit from adding professional managers, but they do not yet have a full-scale professional management team. A business typically begins to enter its second stage when it approaches $1 million in total receipts.” -- Edward Lowe Foundation Our purposes: • Private, Oregon-headquartered companies involved in traded sector or exportable services sector • Oregon headquartered • 10-99 employees • $1M to $50M revenues • Recent growth YoY

  11. In addition to “economic hunting,” Oregon should do more economic gardening.

  12. Littleton, Colorado, 1987 Littleton, Colorado, 1987

  13. Two decades of economic gardening: 100% Jobs growth: 15,000 to 30,000 333% sales tax growth: $6 million to $20 million (only 25% population growth: 32,800 to 41,000) Harvard Kennedy School: “Top 25 Government Innovation”

  14. Tenets • Entrepreneurial companies create jobs • Homegrown – cultivate the good that’s here • Steady, sustainable – no ribbon cuttings • Companies drive their success – within a context • Second stage, export-oriented companies bring wealth to the area

  15. The Focus Is On Strategic Issues • Individual meetings with CEOs/Owners • Core strategy, market dynamics, team-building, sales development • Identify data needs - market, customer, and competitive • Research, analyze, respond

  16. How Economic Gardening Works

  17. EG: Information To Grow On • Competitive intelligence, market analysis, sales leads, GIS • Strategic decision-making for growth –new markets, new products, grow sales • Customized for each company “We have to grow small companies headquartered here. The biggest talent gap is in marketing and sales” – Bob DeKoning, Oregon Entrepreneurs Network “It was exactly what we needed to Find new customers and grow. We never would have done it without the help we got.” – Doug Robertson

  18. How an EG team works • Meets with company leadership to identify key needs • Conducts customized research and analysis • Reports to company • Assists company in strategic application of information

  19. Economic Gardening in Oregon • City of Beaverton • Portland-Vancouver Regional Partners/Greenlight Greater Portland • Southern Oregon Regional Economic Gardening Program • Planned OSU rural pilot

  20. Economic Gardening in Oregon – in depth

  21. Portland Regional Program • Started as a pilot last year (sponsored by Regional Partners and funded by EDA) • Served 30 businesses this year • Goal: 50 businesses in 2011 • Referral process • Leverages existing community fabric/integrated into other ED services • Parameters reflective of area • Client testimonial

  22. Southern Oregon Regional Program • Pilot begun in June 2011 • Diverse funding streams • SBDCs act as referral and implementation team • Parameters reflective of area • Leverages existing ED fabric

  23. A Path to a Statewide Program One year of GrowFL: $1.5 million investment 1,458 Jobs (592.7 direct, 406.7 indirect, 458.9 induced) $281.2 million sales/output growth $133.6 million additional GSP Florida Governor defunded program May 2011

  24. How many second stage businesses in Oregon? D&B Data: private companies, Manufacturing NAICS, 10-99 employees, $1M to $50M in revenue Does this fit the picture we have of Oregon?

  25. GrowOR? • Majority of “pure” second stage companies are along I-5/I-84 corridors • Looking to develop an Oregon definition of second stage • Considering a rural-specific approach • Possibly similar to OSU Pilot to be discussed later

  26. GrowOR? • HB 3644 (2010): Task Force on Stage Two Business Development & Economic Gardening • Business leaders, ec-dev practitioners, policymakers • Assess Oregon’s continuum of business services for stage two growth potential businesses • Recommend stage two business development strategy for Oregon

  27. Offering input: …and many more

  28. Legislative updates

  29. OSU Slides • Placeholder slides

  30. Interested in Bringing EG to your Community? • Can the four EG services be knit together from existing providers in your community? • Can EG be integrated into existing ED services? • Can the program develop a diverse funding stream of local buy-in? • What is “second stage” in your community?

  31. Discussion Points • Questions about Economic Gardening? • How can a statewide program better serve interests of your community? • Other Questions?

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