Seattle is one of three metro areas (along with the Twin Cities and Northeast Ohio) in a pilot program with the Brookings Institution to develop a regional business plan. According to Mark Muro of Brookings, “These plans rigorously situate the market position of regional economies; detail emerging regional strategies for generating metro prosperity; and advance detailed development initiatives for catalytic interventions.”
The goal is to deliver “customized analysis of the market inputs, goals, and strategies necessary to improve regional economic performance, the plans will advance the state of regional economic development practice and help to recast federal-state-metro relations in the United States.”
Planning began in earnest at a recent summit in Chicago. The Brookings briefing emphasizes the importance of metros in the reset:
Metropolitan business planning adapts the discipline of private-sector business planning to the task of revitalizing regional development. Such planning provides a framework through which regional business, civic, and government leaders can rigorously analyze the market position of their region; identify strategies by which to capitalize on their unique assets; specify catalytic products, policies, and interventions; and establish detailed operational and financial plans. These plans can then, in turn, be used to restruc- ture federal, state, and philanthropic engagement in ways that invert the current top-down, highly siloed, and often ineffective approach to cities and metropolitan areas while bringing new efficiency to development activity.
Seattle leaders, including the Puget Sound Regional Council and the Greater Seattle Chamber of Commerce, are emphasizing building the region’s energy efficiency cluster. Look for more news about the initiative in the spring.
Today’s Econ Haiku:
Don’t cross Mr. P
Russian executives learn
As one rots in jail
Comments | More in