Project Initiation

May 14, 2014

Presentation By:

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Tonight’s Objectives?

1. Inform Leadership about Economic Development

• History of the economic development

• How economic transformation is impacting Hoosick

• What economic development means for Hoosick

• Ingredients for success

• What works in rural communities

2. Begin Capacity Building Process – Recruitment Campaign

• Why this is important

• The steps for building capacity and leadership in Hoosick

3. Discuss Existing Ideas

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History of Economic Development?

• History of the revitalization

• Poverty programs (1960’s)

• Urban renewal (60’s-70’s)

• Community development (1970’s-80’s)

• Planning (1980’s)

• Economic development (1990’s)

• Until 2008 - Fostering Private Investment

• Industrial parks

• Business attraction

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Economic Transformation

Source: Dr. John Finlay

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What is Economic Development Now?

Less about

• Marketing, Attraction & Incentives

More About

• Entrepreneurship & Innovation

• Collaboration – regionally

• Universities and Colleges

• Workforce

• Quality of life

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What is Economic Development Now?

More About

• “Emerging technologies, creative individuals, small groups and companies, interlocking networks, connecting and disconnecting in the processes of continuous innovation.”

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Critical Ingredients To Success

1. Sound Feasible Plan

2. Funding & Incentives

3. Leadership – build capacity and manage implementation

But There Is More Now…..

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What Are The Most Successful RuralCommunities Doing?

• Creating business friendly environments

• Changing the culture of how a community perceives a business

• Streamlining business process

• Reducing individual interpretation of zoning regulations

• Welcoming

• Take care of what they have

• Entrepreneurship

• Quality of Life

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Successful Projects Require:

FinancialFeasibility

Citizen/Political Feasibility

MarketFeasibility

“Successful development initiatives require a sound understanding of market

trends, financial viability, and political feasibility.”

~Robert Camoin

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Project Scope

• Project Kickoff Meeting

• Community engagement, leadership, and capacity building

Recruitment Strategy

Community Leadership Training

• Economic Profile

Interviews

Review existing plan and fill in data-gaps

Retail sales/leakage analysis

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• Strengths Weaknesses Opportunities Threats (SWOT)

• Initiatives & Priority Projects

• Action Plan Matrix

• Draft & Final Strategy

• Quarterly Check-In

Understanding how community interacts

Community Leadership Training

Project Scope

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Moving Hoosick Rising Forward

Capacity Building Process

1. Branding the effort

2. Create excitement and interest

3. Attract the most vital resource – PEOPLE

4. Education and training:

• Rural economic development

• Leadership

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Moving Hoosick Rising Forward: Let’s Get Started

Tonight: Kick off the Recruitment Campaign

Need volunteers to:

• Agree upon brand/theme

• Develop the message

• Disseminate the message

• Plan Community Leadership Session (next visit)

• Lead social media advocates

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Rising

Recruitment Campaign: Let’s Get Started

1. Brand the effort: We think Hoosick Rising works!

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Zoning

Downtown Businesses

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Recruitment Campaign: Let’s Get Started

2. Craft the message

• What is Hoosick Rising about? What will we achieve?

• Why should residents and businesses get involved?

• How do people get involved? (Call to Action)

3. Disseminate the message

• Where does the Hoosick community get its local news?

• How to residents find out about local events?

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Recruitment Campaign: Let’s Get Started

4. Plan Community Leadership Session

• Economic development overview

• Strategic planning

• Role of community for planning and implementation

• Community leadership, project management

• Recruitment

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Recruitment Campaign: Let’s Get Started

5. Recruit Social Media Advocates

• Group of 15-20 people with large social media networks

• Share updates about Hoosick Rising efforts with their networks

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What are your project ideas?

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Conclusion: Hoosick Rising Steps

1. Build capacity - “Strength in numbers”

2. Build knowledge among the numbers

3. Identify and develop leadership

4. Create a plan of action based on consensus and buy-in

5. Develop the implementation management structure

6. Implement

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Reading Resources

Camoin Blog Articles

1. Three Things You Can Do to Help Your Region Transition to a New Economic Era, by Rob Camoin

2. Searching for a New Dynamic: Rethinking Economic Development, by Jim Damicis

3. The Importance of Local Social Networks for Economic Development, by Jim Damicis

4. Lessons in Downtown Redevelopment Success: The Story of Schenectady's Comeback, by Michael N’dolo

5. Implementation Success: Revisiting the Friends of Old Seven Impact Analysis, by Rachel Selsky

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Assignments: Hoosick Rising Steps

Camoin Blog Articles

7. Land Assembly: A Brief Overview, by Christa Franzi

8. The Role of Economic Development Organizations in Real Estate Development, by Rachel Selsky

9. Historic Mill Building Reuse Project – Success through Persistence and Multifold Incentives, by Michael N’dolo

http://www.camoinassociates.com/blog/

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