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Transforming Your Region

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Rich Overmoyer, Fourth Economy Consulting presentation

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Transforming Your Region

  1. 1. Transforming Your Region….Presented by Rich Overmoyer, CEOTweet:@FourthEconomy June  10th,  2012  
  2. 2. “Necessity, who is the mother of Invention.” :: Plato2
  3. 3. Key  Points  •  Pace  of  Change  •  Recognizing  the  Need  •  New  Models  •  Role  of     -­‐    Technology   -­‐    Energy   -­‐    Demographics   -­‐  Place  •  Need  to  Knows  
  4. 4. 4
  5. 5. Value Based Economic Development is Defining Modern Investment Trends5  
  6. 6. Cost–Based  Industry  CharacterisDcs        Total  ProducDon  Control        VerDcal  Management  Structure        Central  DistribuDon  &  LocaDon        Larger  Centrally  Located  Employment  Base        Labor  Intensive        People  followed  Jobs        Cost  and  Wage  SensiDve        Use  of  Natural  Resources        Large  Tracts  of  Land    
  7. 7. Outdated strategies focus on lower costrather than responsible investment  Federal tax cuts for corporations/businesses  Spending on speculative infrastructure/public works projects  Picking individual winners versus sector support  Big Bets…versus diverse investment
  8. 8. Moving to plug the defection of staff to competitors, Google Inc. is Value-­‐Based  Industry  Characteris9cs   giving a 10% raise to all of its 23,000 employees, according to people familiar with the matter.      Higher  producDvity  –  Less  people   (Wall Street Journal – 11/10/10)      InnovaDon  is  a  Cornerstone        Smaller  Sizes  –  Many  LocaDons  “Average Space Required Per      Talent  Driven  /  AQract  and  Retain   Person Down from 250 sq/ft      Grow  by  Buying  Other  Companies  to less than 150      They  Follow  People   sq/ft”      Corporate  Image  Important   ULI      Urban  SeUngs  (Small  and  Large)        Serial  Reinvestment  
  9. 9. Value-­‐Based  Growth  Trajectories   Scalable Carnegie Networks Mediasite Mellon 1996 FORE Systems / Comanage Marconi Networks Transarc / 1998 IBM Pittsburgh 1990 / 1999 1989 / 1999 Laurel Networks 1999 Laminar 1999 Opsware Panasas Spinnaker 1999 Lightera Networks From 0 to 1,500 jobs over 15 OnFiber Communications Companies in 12 years… InFinera AcceLight Corporation WaveSmith Networks
  10. 10. Convene the Stakeholders10
  11. 11. Four Drivers Accelerating Transformation Technology   Millennials   Energy   Commurbanism  
  12. 12. Technology ShiCs  in   occupa9ons,   Leveling   Accelera9ng     products  and   Loca9onal   change   workplace   advantages   environment  Instant  Global  Reach  ,   Computer  Power  –   Can  we  remember  a   world  without  Smart   Mobility,  Ever   Phones?  –  So  two   Emerging  Occupa9ons   Personal  Market   years  ago…   (VP  For  Social  Media   Choices,  skill  set   PlaRorms),  The   dispersion,  less   Anywhere  Office   concentrated  metro   (Open  24hrs),  JIT   advantages     Products  
  13. 13. Location Rising   Public   Housing   Prices   Policy    Rethinking  Lifestyles,   Transporta9on   Choices/Alterna9ves,     Forced  Discussion  on   No  Clarity  -­‐  Major   Driving  Innova9on   wealth  and  credit,   Source  of  Con9nued   Refocusing  priori9es   Uncertainty  impac9ng   on  real  cost  of   Foreign  Policy,  Financial   housing     Markets,  Innova9on   Response  –  Either  way   will  reinforce  a  new     mind-­‐set  
  14. 14. Commurbanism Back  to   Social   Ameni9es   Basics   Innova9on    Preference  for  Slower   Pace  –  To  Know  Your  neighbors  –Walkability    (Pew  Research)   Desire  the  Good   Desire  to  give  back,   +  Ups  in  30  –  49  Age   (Parks,  Bike  Paths,   do,  reinvent  =     (2010  Census)   Restaurants,  Grocery)   sustainable  planning,   without  the  bad   consumpDon,    (Cost,  CongesDon,   inclusion  –  Social   Commutes)   Media  Organizing  –   The  RelaDonship   Economy  
  15. 15. Millennials Who   Values   Where    18  to  33  23%  of  the  PopulaDon   Ethnically  Diverse   Most  EducaDon   Less  Religious   Social  Networks   Social  Conscience   Commurbanists   Delaying  Marriage  –  Kids   Renters   Small  Biz  Starters    Roomates   Non-­‐Profit  Interests    Parents   Live,  Work,  Play  
  16. 16. The Fourth Economy Index Small-­‐Size  CounDes   (100,000  to  150,00)  Measures     1.  Clarke,  GA  •  Employment  /  Wage  Growth   2.  Monroe,  IN   3.  Johnson,  IA  •  EducaDonal  AQainment   4.  Tompkins,  NY  •  Commute  Times   5.  Lee,  AL  •  Minority  Owned  Firms   6.  LaCrosse,  WI  •  Farm  Land  Per  Cap/Sq.Miles   7.  Olmsted,  MN  •  Home  Value  to  Med  HH  Income   8.  Warren,  KY  •  Total  PopulaDon   9.  Wood,  OH   10.  Randall,  TX  
  17. 17. Transformative Models Economic   Gardening     Transform   Wealth   Your   Re-­‐Shoring   Building   Region   Clusters   and   Chains  17
  18. 18. Adhocracy vs. Bureaucracy “Getting the Civics Right” Value and Wealth vs. Cost and Jobs Place vs. Location Innovation vs. TechnologyTo   Capacity vs. InfrastructureTransform   Collaboration vs. Competitionwe  must   Resources vs. Grantsthink…   Human vs. Corporation Virtual vs. Municipal Boundaries Think Assets vs. Great Place to Raise a Family
  19. 19. “I  came  for  the  place,  and   the  jobs  have  followed”   Bartender  –  PhD   Georgetown,  CO   “We  saw  run  down  bars,  they   see  history,  funky  and  cool”   Economic  Developer   MonValley     “Cost  is  not  the  primary  driver  –  It’s   the  resources,  the  housing  and  the   fact  that  our  employees  are  happy   to  be  here”   Tech  Entrepreneur   Athens,  GA  
  20. 20. Contact: Rovermoyer@fourtheconomy.com or 412-251-160720