David C. Bloom's talk from Penguicon 2010

1. Economic Development
for Dummies Geniuses
Penguicon 2010
11am Sunday, May 2

2. Dummies
• Media: news cycle, every 1-2 days
2

3. Dummies
• Media: news cycle, every 1-2 days
2

4. Less Dumb
• Media: news cycle, every 1-2 days
• Business: close every month/quarter
3

5. Less Dumb
• Media: news cycle, every 1-2 days
• Business: close every month/quarter
3

6. Still Dumb
• Media: news cycle, every 1-2 days
• Business: close every month/quarter
• Politics: campaign every 2-4 years
4

7. Still Dumb
• Media: news cycle, every 1-2 days
• Business: close every month/quarter
• Politics: campaign every 2-4 years
4

8. No Longer Dumb
• Media: news cycle, every 1-2 days
• Business: close every month/quarter
• Politics: campaign every 2-4 years
• Economic Development: program out 5-10 years
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9. Economic Development
6

10. Economic Development
• NOT Business Development
6

11. Economic Development
• NOT Business Development
• Altruism, Samaritanism, Socialism
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12. Agenda
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13. Agenda
• What is Economic Development
7

14. Agenda
• What is Economic Development
• Who does Economic Development
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15. Agenda
• What is Economic Development
• Who does Economic Development
• What do Economic Developers do
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16. Agenda
• What is Economic Development
• Who does Economic Development
• What do Economic Developers do
• Why Economic Development matters
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17. Agenda
• What is Economic Development
• Who does Economic Development
• What do Economic Developers do
• Why Economic Development matters
• Economic Development Catalogue
7

18. What is EconDev?
8

19. What is EconDev?
8

20. What is EconDev?
• An Infrastructure Play
8

21. What is EconDev?
• An Infrastructure Play
• It’s fertilizer
8

22. What is EconDev?
• An Infrastructure Play
• It’s fertilizer
• (Too) often political
8

23. What is EconDev?
• An Infrastructure Play
• It’s fertilizer
• (Too) often political
• Ruthlessly competitive
8

24. What is EconDev?
• An Infrastructure Play
• It’s fertilizer
• (Too) often political
• Ruthlessly competitive
• Ruthlessly egalitarian
8

25. Who does EconDev?
9

26. Who does EconDev?
• Government
9

27. Who does EconDev?
• Government
• Foundations
9

28. Who does EconDev?
• Government
• Foundations
• Institutions
9

29. Who does EconDev?
• Government
• Foundations
• Institutions
• Corporations
9

30. Who does EconDev?
• Government
• Foundations
• Institutions
• Corporations
• Grassroots
9

31. Who does EconDev?
• Government
• Foundations
• Institutions
• Corporations
• Grassroots
9

32. What does EconDev do?
10

33. What does EconDev do?
• Business Acquisition, Retention, Expansion
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34. What does EconDev do?
• Business Acquisition, Retention, Expansion
• Workforce Development
10

35. What does EconDev do?
• Business Acquisition, Retention, Expansion
• Workforce Development
• Entrepreneurial Support
10

36. What does EconDev do?
• Business Acquisition, Retention, Expansion
• Workforce Development
• Entrepreneurial Support
• Umbrella Marketing
10

37. Entrepreneurial Support
$
t
11

38. Entrepreneurial Support
$
the payoff
t
the hole
11

39. Entrepreneurial Support
$
y=x
the payoff
t
the hole y
x
11

40. Entrepreneurial Support
$
y2 > x
the payoff
y2 y3 y4 t
the hole y
x
11

41. Entrepreneurial Support
$
R=revenues
dI > dR
the payoff
y2 y3 y4 t
the hole y
x
11 I=investments

42. Why EconDev Matters
12

43. Why EconDev Matters
• Does stuff that others can’t/won’t
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44. Why EconDev Matters
• Does stuff that others can’t/won’t
• Tidal economics - Sun Belt to Singapore
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45. Why EconDev Matters
• Does stuff that others can’t/won’t
• Tidal economics - Sun Belt to Singapore
• Cluster economics - Napa, Holly, Si, e.g.
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46. Why EconDev Matters
• Does stuff that others can’t/won’t
• Tidal economics - Sun Belt to Singapore
• Cluster economics - Napa, Holly, Si, e.g.
• Stakeholders - financial, utility, social
12

47. EconDev Catalogue
Government:
• Federal: stimulus, trade, SBA, SBIR
• State: MEDC, SBTDC, 21CJF
• County EconDev agencies
• Local: SmartZones (AA, TT, SPARK, e.g.)
• Neighborhood: DDA’s
13

48. EconDev Catalogue
Foundations:
• Kauffman, Mott, Kellogg, verticals
• Ford, Hewlett, Sloan
• CFSEM/NEI, DRC/1stStep
14

49. EconDev Catalogue
Institutions:
• Incubators - Bizdom, YCombinator
• Tech Transfer - universities and research org’s
• Business Engagement - Hercules, Zoo examples
• Industry - CAR, LHC, Uptime
15

50. EconDev Catalogue
Companies:
• Incubators - Franchisors, MLM’s
• Utilities - power, communications, e.g.
• Corporate Venture arms
• Open Source Business - Celera/Venter, Sun/Joy, e.g.
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51. EconDev Catalogue
Grassroots:
• Incubator model - TechBrewery, e.g.
• Hackerspace model - i3detroit, e.g.
• Cowork model - Workentile Exchange, e.g.
• Co-op model - Factotem (YEN), e.g.
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52. Thank You!
David C. Bloom
www.davidcbloom.com
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53. Thank You!
David C. Bloom
www.davidcbloom.com
18