REGION 2020: ECONOMIC DEVELOPMENT
WHAT
• To develop a region that is focused
on an economic development approach that develops and attracts additional
business and industry, retains existing
ones,
increases tourism, improves quality of life to a world-class level, fosters
recreational growth, and enhances the region's image.
WHY
• To encourage economic growth in the region.
• To make the region more competitive regionally, nationally and globally.
• To promote a cooperative, coordinated approach to economic development.
• To encourage more effective use of resources by participating organizations.
• To increase the tax base.
• To increase access to more job and income opportunities.
• To enhance the image of and pride in the region.
WHO SHOULD BE INVOLVED
• Regional economic development officials and support, agencies
• Regional leaders from public and private industry
• Regional business and lay leaders
• Media
• Potential funders
WHO WILL BENEFIT
• Citizens of the region
• Governmental entities
• Businesses
• Economic development entities (public and private)
• The State of Alabama
HOW
Strategy
Create a volunteer regional economic
development association that identifies shared priorities and goals, market
the region's image nationally
and internationally, and provides an ongoing forum for new initiatives
that
will allow the region
to capitalize on its combined strengths.
Action Steps
Region 2020 will establish an Economic Development Steering Committee
composed of civic and economic development leaders (public and private)
from across
the region. The Steering Committee will set the direction and policy,
and serve
as the fiscal steward.
The Steering Committee will form a Technical Committee of experts
from economic development organizations in the public and private
sectors
of the region.
The Technical Committee will implement action plans agreed upon
by the two groups.
The Steering and Technical Committees will:
I. Conduct a study of other regional efforts to address organizational
structure, governance issues, scope of activities, funding opportunities,
strategic
planning, communication and distribution of data, public relations
and marketing, and
associated activities.
2. Determine an organizational structure applicable to our region
that ensures objectives are met.
3. Determine the necessary level of funding and obtain such
funding.
4. Implement the regional structure.
5. Audit the effectiveness of the regional structure on a regular
basis.
6. Implement changes to the structure to improve its effectiveness,
based on the results of the audit.
Role of Region 2020
To convene the Economic Development Steering Committee To
act as a catalyst for the initial effort
Cost
$50,000 - $100,000
Further Information
See the Workgroup report for information about organizational
models from around the country
Note: The Economic Development sub-topic team feels
very strongly that in order to meet the overall economic
development
goals
of Region 2020,
our
region must
solve the following systemic needs that have not
been referenced in this Action Plan: educational improvement,
workforce
training, infrastructure
development,
and improved air service and other transportation.
