economic development gary l. toebben l.a. area chamber of commerce november 29, 2006
TRANSCRIPT
Economic development is about adding basic jobs to your local community.
Basic jobs-bring new $ to the economy
Secondary jobs-circulate the basic $ in the economy.
SUCCESS IN CREATING NEW BASIC JOBS IS DEPENDENT ON:
Quality of the product.
Marketing and service of economic development representatives.
Attitude of elected officials.
MARKETING & SERVICE OF ECONOMIC DEVELOPMENT
REPRESENTATIVES
Good website and collateral materials
Responsive service
Aggressive follow-up
Professionalism
ATTITUDE OF ELECTED OFFICIALS
Economic development is a high priority.
City/County staff are helpful and supportive.
Tax policies and regulations are viewed as fair and consistent.
Business is treated as a partner-not an adversary.
ELECTED OFFICIALS ARE KEY
When elected officials don’t care about economic development or give the perception of caring about economic development
BASIC JOBS SAY:
“I can go elsewhere”
Can’t place the company at a disadvantage against their national or global competition.
SECONDARY JOBS
Secondary jobs are more willing to fight the red tape in order to beat their local competition and serve the population growth.
CHALLENGE
The average elected official does not know the difference between a basic job, that usually pays higher wages and benefits, and a secondary job that is often in the service or retail category and pays lower wages and benefits.
Chambers of Commerce in California must help elected officials understand:
The importance of retaining the basic jobs we have-and creating more.
The important role they play in retaining and attracting basic jobs.