1. Open Source
Economic Development
Community Empowerment
Oct 2010

2. 2
Adjusting to the “New Normal”
• Which way should we go?
• How did we get in this situation?

3. 3
Problem #1: Silos of purpose and direction
• The first area of attention for turn-around experts

4. 4
Problem #2: A focus on Self Interest
• Participating for “What’s in it for ME!”

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Problem #3: Systemic self-preservation
CLIENTS EDA COMMUNITY
• Being the “expert”… and proud of it
• Lack of true leadership
• Keeping the best players off the field

6. 6
Problem #4: No clear destination
• “When you don’t know where you’re going,
any road will get you there.” George Harrison

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The results:
EDA

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The GOAL:
EDA

9. 9
Economic Development must:
• Create the ultimate environment for
business success
• Provide community leadership – influence
at all levels for all the right reasons
• Be a “community concierge” internally and
externally --- working at a high level!
• Have a plan

10. 10
Why we do economic development:
• It’s not about “What’s in it for Me!”, it’s about:

Our kids
 Our grand-kids

The future of our community
 Paying forward

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Economic Development is broad based
community development:
• Leadership
• Workforce
• Entrepreneurism
• Capacity building
• Existing business expansion and retention
• New business recruitment

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So…how does open source become
successful?
 Create optimum business success climate

Focus on the right reason for economic
development
 Define and manage brand
 Develop action plans and assemble proper
resources (Regional Action System)

Focus on excellent customer service (execution)
 Make constant adjustments as necessary (management)

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And, we also:

Create a system of community involvement
through action committees

Bring along the community at large through
communications
 Form marketing targets based on
 “best case for success”
 “what do we want to be when we grow up”
 “Open Up” the business development process
 Continue to make constant adjustments

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Were all in it together –
Our binding philosophy and moral
compass:
 Everything is connected to everything else

Scarcity vs. Shared Abundance
 A belief that there is enough for everyone
 If we all work together towards a common cause; we
will all end up with more than we thought possible by
ourselves

A focus on the future for our kids; not just ourselves
 Being a giver

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Doing well while doing good!
 If “open source” is like a barn raising… how many
barns can we build for free before we run out of
nails?
 Defining the “Good” and the “Well”

Maintaining vision and credibility
 Fulfilling our core mission of increasing each and
every business’ financial vitality… Including Yours!

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Defining the brand:
The Sierra Region of Nevada
The peaks, valleys and hills of the front range of the
Sierra Nevada, where the climate for business is perfect!
• The peaks, valleys and hills of
the front range of the Sierra
Nevada, where the climate for
business is perfect!

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Action Committees
 Division by major community verticals
 Not passive! Each committee with responsibilities
to recruitment, retention and expansion of
business
 Each committee drives its own purpose towards a
common community vision, mission and goal(s)
 The elected Chairman gets a seat on NNDA Board

Committees meet monthly

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Action Committees
Committee Recruitment Retention Expansion
Commercial Real Team Leaders; work deals Identify problem Bring more demand to
on rotation basis and companies through region through cluster
Estate conduct out of market sales professional network development
Workforce and Integration with Addresses current Drives future workforce
recruitment targets for business’ needs for skills maturity
Education workforce development
Professional & Provide needed services for Work with “endangered Assist companies in new
incoming companies companies” to revive market identification and
Buss. Services through better strategic planning
management
Residential Real Market region through Housing programs for Housing programs for
affiliated RE network incoming recruited and incoming recruited and
Estate relocation employees relocation employees
Marketing Regional branding and Repositioning of at risk Driving market expansion
communications companies through better tools
Banking & Finance Start up funding, equity Financial revivals through Expansion financing
and debt financing, analysis and creativity
financial transitions
Developers and Conducting marketing Identification of at risk Assisting companies with
programs to increase businesses providing building modification
Builders prospects and leads to creative solutions - solutions
system

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Special Committees
• Relocation Feasibility Committee
 Comprised of area CPAs and CFOs
 Recasts finances of prospects as if they had already moved
to Nevada; what would the bottom line really look like?

Provides client company’s CFO with accurate information
to base decision to protect shareholder interest
• Government

Communication between all levels of government
 Provides continuity and improvement of process
 Coordination of resource acquisition

Prioritization of infrastructure development

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The NNDA Machine
WORKFORCE
WORKFORCE
DATA
PROF SVCS
PROF SVCS
BANK & FINANCE
BANK & FINANCE
CRE RELOCATION FEASIBILITY
MARKETING TEAM LEADER
CLIENT
NNDA
EDA GOVERNMENT
RESIDENTIAL RE
REALTORS
BUILDERS
BUILDERS
TECHNOLOGY
SUCCESSFUL TO CLIENT
SUCCESS RELOCATIONS
HEALTH CARE
&
WEALTH TO THE COMMUNITY
AMBASSADORS
MANUFACTURING

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Creating Marketing Targets
• Target Identification

Current directions of development (if there)
 Growth industry

Jobs are high paying and career oriented

Accessible market
 Workforce is developed are can be

Region will work for company
 MOST IMPORTANT:
FITS THE COMMUNITIES DESIRE OF
“WHO WE WANT TO BE WHEN WE GROW UP”

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Creating Marketing Targets
• Regional Target

Cleanroom and Controlled Environment
Manufacturers
 Nine different industries depend on this ability…
large target with common denominator
 Perfect climate for reducing operational costs

On the ground expertise

Existing companies in region
 Coordinated workforce development programs
 Identifiable market

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Creating Marketing Targets
• Local Brand Targets

Carson City – High-tech digital
 Douglas County – Outdoor lifestyle mfg/tourism

Mound House – Roll up your sleeves mfg
 Silver Springs – Aviation Campus

Smith & Mason Valleys – Advanced Ag
 TRIC – Large scale distribution and mfg

Virginia City – Tourism (V&T + Wild West)

Washoe Tribe – Wellness

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Creating the Plan
• Understand the process
 An everlasting vision

A doable mission with a “got there” date
 Measurable “goals”

Identification of all “tactical elements”

Strategic organization of tactics; it follows not
leads

Mileposts as objectives; check them off by the
quarter
 Be ready to adjust!!!!

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Creating the Plan
• The budget is born from the plan
 With all tactics strategically organized, the
timelines estimated, a costing and forecasted
budget will naturally follow
• Resources are then sought
 Foundation Search

Selling your plan
 Broadening the “investor partner” base

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Communicating the Values
• Community meetings through

Sierra Regional Economic News (published every 1st and 3rd Sunday of the month)
 Sierra Region Social Media Platform
(www.centerpointcommunity.com)
 Partnering with other non-profits
 Sister agencies

Government boards
 Anywhere the community gathers…

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Opening Up the Process
• Trusting your players and team leaders

Everyone signs on, for the clients sake
 Every client is first “sold” on our system and
agrees to speak with multiple players

Better to lose a deal, than lose the community
 Setting up a communication system
 Web Office

Conduct “meaningful” meetings

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Opening Up the Process
 Provide Great Tools

RFI Proposal Template
 Keep Data Current

Use committee structure to accomplish data
shepherding
 Conduct Regular Training

Use committee meetings to bring in training
opportunities
 Keep the vision fresh!

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An empowered community engaged in
Open Source Economic Development
will:
• Increase community wealth
• Provide new opportunity for all residents
• Create an atmosphere desirable for retaining
the youth of the community
• Grow the tax base and improve the depth and
breadth of community services

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Keep this thought in mind!
• Economic Development is NOT a spectator sport!
It is a community effort
where all hands must be on deck!