Economic development involves creating, retaining, and reinvesting wealth to improve quality of life. It differs from economic growth in focusing on long-term community benefits. A case study of Oakland, MD shows how embracing opportunities like a Walmart store and promoting downtown helped economic development by raising incomes and lowering vacancy rates. The presentation emphasizes community involvement, strategic planning, and using all available tools including social media to effectively promote a town's unique assets.
3. â(T)he process by which a community
creates, retains, and reinvests wealth and
improves the quality of life.â
- David Dobson
MDC, Inc.
Working definitionWorking definition
10. âBut I love New Orleans as a city for one
reason: when youâre standing on a corner in
New Orleans and look around, there is
nowhere else in the world you could
possibly be. And thatâs true of fewer and
fewer cities around the globe.â
- Donovan Rypkema
PlaceEconomics
2009
17. We're merely taking care of it for them...We're merely taking care of it for them...
18. ...get them INVOLVED in the process, too!...get them INVOLVED in the process, too!
19. Framework = not set in stone
Long term
â 5-10 years
Short term
â 1 year
Plan = Framework
20. Case study | Oakland, MDCase study | Oakland, MD
Population (2000)Population (2000) 1,9301,930
City budget (2005)City budget (2005) $2.25 million$2.25 million
Per-capita income (2000)Per-capita income (2000) $16,900$16,900
Median household income (2000)Median household income (2000) $26,700$26,700
Poverty rate (2000)Poverty rate (2000) 19%19%
Minority population (2000)Minority population (2000) 1%1%
Proximity to urban centerProximity to urban center 96 miles to Pittsburgh, PA96 miles to Pittsburgh, PA
Time frameTime frame 1998-20021998-2002
Source: UNC School of GovernmentSource: UNC School of Government
21. Agriculture-based economy
Highest unemployment rate â 16.5% (1995)
Bausch and Lomb plant
State mandated restriction on new development
1970 â mid 1990s
Lifted in when water treatment facility built
Designated Main Street Community in 1998
Case study | Oakland, MDCase study | Oakland, MD
22. âHistoric downtown train station renovated
âSummer concert series started
âBroad-based community support of program
âBig box retailer announced in 2000
âConfirmed as Walmart in 2001
Case study | Oakland, MDCase study | Oakland, MD
23. âMS Director helped businesses prepare
âMS Director reached out to Walmart manager
âAbility to create unique marketing campaign
Case study | Oakland, MDCase study | Oakland, MD
24. Walmart is among the highest grossing in theWalmart is among the highest grossing in the
United StatesUnited States
Downtown Oakland has near-zero vacancyDowntown Oakland has near-zero vacancy
Case study | Oakland, MDCase study | Oakland, MD
25. âBig box doesn't necessarily destroy Main Street
âCommunity support building helpful in long-term
âLook for opportunity in adversity
Takeaways | Oakland, MDTakeaways | Oakland, MD
27. Why NOT to be using it:Why NOT to be using it:
âIt's free and easy
âEverybody else is doing it
âIt's the best way to reach the âyoungâ people
28. Why SHOULD you be using it:Why SHOULD you be using it:
âComplimenting your plan's objectives
â If it's not considered part of it, it should be
âTools (& people) are in place to manage a strategy
effectively
âYou are willing to be where they are online
29. Be aware of the conversationsBe aware of the conversations
31. SMALL TOWNS, BIG IDEAS
âUNC School of Government searchable
database of 45 communities
VIBRANT RURAL COMMUNITIES
CASE STUDIES SERIES
âNADO Study of 9 communities (2012)
Online resourcesOnline resources