Entrepreneurial and Small Business Development Strategies



114300-276225 AGENDAIntroduction to Economic DevelopmentApril 2-4, 2014 * St. Thomas, VIWednesday, April 28:00 – 8:30 amRegistration8:30 – 9:30 amIntroduction and Overview of Economic DevelopmentInstructor: Jeffrey A. Finkle, CEcDThe goal of this session is to put economic development into context. What is it and how does it affect the local economy? This session will develop a common definition of what is meant by economic development, discuss the major trends and factors that shape local economies, and explore how state and local initiatives can further economic development goals. There will also be a discussion of the different players in economic development and their roles.9:30 – 9:45 amBreak9:45 – 11:45 amNeighborhood Development Instructor: Joy Wilkins, CEcDAny local or regional economy is affected by the economies of the communities or neighborhoods in the area. Developing sound economic development strategies within smaller communities and areas will lead to a healthier economy overall. This session discusses working with the community as part of the overall area’s economic development plan, and identifies some of the specific hurdles that will need to be addressed 11:45 am – 1:00 pm Lunch1:00 – 3:00 pmReal Estate Development and ReuseInstructor: Jeffrey A. Finkle, CEcDRedevelopment of blighted areas and downtown business districts is a central component of the economic health of cities and neighborhoods. Successful redevelopment initiatives can attract new firms and jobs, stimulate tourism, and encourage major new investment in a community. It can also boost the overall morale of the region’s residents. This session addresses major issues facing redevelopment projects and the strategies and programs to address them. 3:00 – 3:15 amBreak3:15 – 5:15 pmEconomic Development FinanceInstructor: Jeffrey A. Finkle, CEcDEconomic development is a means to stimulate growth and development by increasing access to capital for both ventures and projects that may not take place if left to market forces, but do provide economic benefit. This session will provide an overview of the role of capital in economic development, the sources of capital market gaps, and programs to bridge those gaps.Thursday, April 38:30 – 10:30 pmEntrepreneurial & Small Business DevelopmentInstructor: Jon RobertsThis session will focus on local programs and strategies to increase the creation and growth of small businesses. Small businesses are increasingly supplying more jobs in today's economy. Local communities can use their influence to help these businesses grow. This session will examine the programs and tools to support business start-ups and efforts to support the growth of existing small businesses. 10:30 – 10:45 amBreak10:45 – 12:45 pmWorkforce DevelopmentInstructor: Joy Wilkins, CEcDWorkforce development is quickly becoming the #1 focus for economic development organizations. A skilled and educated workforce is crucial in today’s economy. Without the proper infrastructure of skilled labor in place, communities cannot be competitive in attracting and retaining business. This session will focus on the need for the creation of workforce development programs that address both community and business needs. This session will also cover the ways to reach out to the community to help build support for workforce development. 12:45 – 1:45 pmLunch 1:45 – 3:45 pmBusiness Retention & ExpansionInstructor: Joy Wilkins, CEcDThere are other viable options for entrepreneurs to acquire small business development funding such as commercial banks, angel investors and SBTDC programs. This session will help practitioners better understand the diverse set of funding sources available. Also, this session will improve the practitioners understanding of what lenders and angel investors are typically looking for in a start-up venture.3:45 – 4:00 pmBreak4:00 – 6:00 pmEconomic Development Marketing and AttractionInstructor: Jon RobertsMarketing is a useful tool for economic development practitioners. Marketing can be used to help attract, retain, and expand businesses, improve a community’s image both inside and outside the community and promote policies and programs. Communities have also started to use marketing strategies to attract and retain a labor force. Marketing, however, is neither an end in itself, nor is it a panacea, as it cannot make up for a community’s shortcomings. Rather, marketing is a tool to help economic development practitioners reach their short and long term economic goals. Examples of successful, well-executed marketing campaigns as well as the types of messages that speak most strongly to site selectors will be discussed.Friday, April 4 8:30 – 10:30 pmStrategic PlanningInstructor: Jon RobertsSo that economic development issues are addressed in a comprehensive way, it is important that communities undergo a strategic planning process. This plan should explore the community’s vision of the future while at the same time identifying realistic and measurable goals and objectives to get there. Participants will look at the best ways to structure participation in a strategic planning effort. Upon completion of a planning process, community members should be able to quickly get to work implementing the plan.10:30 – 10:45 amBreak10:45 – 12:45 pmTechnology-Led Economic DevelopmentInstructor: Joy Wilkins, CEcDWhat is technology? Why is it important? The goal of this session is to put technology into context. During this session you will be provided with a common definition of what is meant by technology-led economic development. You will identify the similarities and differences between technology businesses and examine technology transfer—the movement of a technology from one location to another—and how it impacts economic development.12:45 – 1:45 pmLunch 1:45 – 3:45 pmManaging Economic Development OrganizationsInstructor: Jeffrey A. Finkle, CEcDSuccessful Economic Development Organizations (EDOs) are distinguished by their ability to be innovative in their program activities and to quickly react to changes in the marketplace. To do this, EDO leaders must engage the board of directors and staff to create an efficient and effective organization. Participants will be introduced to the various aspects of EDO management, with an eye toward achieving organizational excellence.3:45 – 4:00 pmBreak4:00 – 6:00 pmEconomic Development EthicsInstructor: Jeffrey A. Finkle, CEcDMarketing is a useful tool for economic development practitioners. Marketing can be used to help attract, retain, and expand businesses, improve a community’s image both inside and outside the community and promote policies and programs. Communities have also started to use marketing strategies to attract and retain a labor force. Marketing, however, is neither an end in itself, nor is it a panacea, as it cannot make up for a community’s shortcomings. Rather, marketing is a tool to help economic development practitioners reach their short and long term economic goals. Examples of successful, well-executed marketing campaigns as well as the types of messages that speak most strongly to site selectors will be discussed.* Agenda subject to change**PLEASE NOTE: In order to receive full IEDC certification credit for this course and a certificate indicating course completion, participants must attend the entire course and stay through the final session on the last day. Please make travel plans accordingly** ................
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