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Peoria

Woodford. Peoria. Central Illinois Regional Economic Development What is different this time? . Tazewell. Morton Rotary Club. September 13 , 2012. Mason. Frank Knott - fknott@vitaleconomy.com Dennis Kief – dkief @ peoriacounty.org. What is Different This Time.

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Peoria

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  1. Woodford Peoria Central Illinois Regional Economic Development What is different this time? Tazewell Morton Rotary Club September13, 2012 Mason Frank Knott - fknott@vitaleconomy.com Dennis Kief–dkief@peoriacounty.org

  2. What is Different This Time True regional strategy, bottom up and top down input and influence Let the natural economy versus political boundaries drive the strategy Include economic gardening and diverse populations in the growth strategy Prioritize industry sectors for targeted focus Adopted a measureable CED strategy with an annual assessment process Clearly defined roles and responsibilities for cities, counties and region Embed the perception and belief that that new investment in the region benefits all towns, counties and citizens Develop the ability to work with other regional jurisdictions beyond CI

  3. Best Practice Uses a 21st Century Balanced Approach

  4. Our Regional Economy is a Swimming Pool of Capital CONSUMER SERVICES SECTOR activities that directly and indirectly address the consumption demands of the local residents EXPORT ACTIVITIES* bring money into the region by selling goods and/or services of value and importance to national or international markets IMPORT ACTIVITIES bring in goods and services to serve the needs and desires of the community; but capital flows out $$$ $$$ *the only source of new capital that the region can use to pay for goods and services to meet its needs and desires Investment Attraction Keeps Filling The Pool (Economy) with More Water (Capital) What happens when there is more capital in our economy?

  5. Phase 1 - Four Milestone Process and Schedule • Foundation • Leadership Team • Sense of Urgency • Issues of Challenge & Opportunity • Economic Benchmarking & S.M.A.R.T. Goal Setting • Discovery • Indigenous Resource Asset Mapping, Region, County • Special Topic Asset Mapping • Launch Action Teams • Connect • Analyze Asset Mapping & Develop Leverage Strategies • Connectivity Strategy to Link Mapped Assets • Identify Targeted Industry Clusters • Refine Regional Goals • Report • Prepare Final 5-year Report, Budget, Framework, Roadmap • ROI Criteria • Community Strategy Presentation • Implementation plans Milestone Outcomes • Establish Leadership • Sense of Urgency • Quality of Place • Set S.M.A.R.T. Goals • Identify Unique Assets • Leverage Strategies • Action teams • Regional CED Priorities • Target Industry Clusters • County CED Priorities • Comprehensive, Measureable, Sustainable Strategy

  6. Policy Steering Committee HUD-HISC* Central Illinois Initiative Organizational Design County Boards City, Town, Village Boards • Potential Initiative Teams • Framework Teams Technical Working Group • Multiple Action Teams • County Teams Regional Planning Commission • Data Center of Excellence • Regional Strategy • Leadership Training Program Heartland Partnership • Innovation Ecosystem Workforce Investment Boards • Equity & Debt Finance System Economic Development Council Mason Woodford • E-connectivity Strategy Peoria Tazewell • Workforce Center of Excellence Municipal * HISC = Heart of Illinois Sustainability Consortium

  7. Get Involved & Make A Difference • October 4 – Discovery Milestone Regional Even Folepi Building in East Peoria 5:00-8:00 PM • November 12-16 – Tazewell County Discovery Meeting Location & Time TBD • Join Hundreds of Central Illinois Citizen Leaders

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