John Turner presentation 4/27/12 USM

1. A Practitioner’s Point of View
Presented by: John Turner
Director, Economic Development
Entergy Mississippi, Inc.
April 27,2012

2. Overview
 Introduction
 Definition of Economic Development
 Traditional “Industrial” Economic
Development
 Strategic Allies
 Functions in the Process of Economic
Development
 Rural Economic Development
 Innovation and Entrepreneurialism
 Q&A

3. Economic Development Defined
 Wikipedia
 The scope of economic development includes
the process and policies by which a nation
improves the economic, political and social well-
being of its people.
 The sustained, concerted actions of
policymakers and communities that promote the
standard of living and economic health of a
specific area.
 TIP Strategies
 The use of public resources to stimulate private
investment

4. Mississippi Strategic Allies
Governor’s Office
Mississippi
Development Authority
Public Sector Resources
Private Sector (Universities, Community
Engagement Colleges, Miss. Dept. Employment
Security, Miss. Technology
Alliance, etc.
Utilities
Local Economic
Development Organizations

5. The Competitive Nature of Economic Development
 Intense competition between
communities, states and nations
 Struggle to attract and retain businesses
 Tax incentives, investment capital, donated
land, utility rate discounts, etc.
 How Success is Measured
 Job creation, economic output and increase
in taxable basis

6. Key Functions of the Economic Development
Process
 Attracting New Business, Retain & Grow
Existing Business
 Business Development
○ Targeted Industries/Cluster Analysis
○ Lead Generation
TARGET INDUSTRIES IN MISSISSIPPI
AEROSPACE/AVIATION FOOD PROCESSING
AUTOMOTIVE ASSEMBLY METAL FABRICATION & STEEL
AUTOMOTIVE SUPPLIERS PLASTICS/POLYMERS/CHEMICALS
CONTACT CENTERS SHARED SERVICES CENTERS
COMMUNICAITONS & INFORMATION SHIPBUILDING
TECHNOLOGY TIMBER/WOOD PRODUCTS
REMOTE DATA CENTERS WAREHOUSE & DISTRIBUTION
DEFENSE/HOMELAND SECURITY

7. Key Functions of the Economic Development
Process
 Community Development – better
described as competitiveness
 Marketable Assets
SITE QUALIFICATION PROCESS
 Work Force
 Incentives  CONTROL OF LAND
 SITE ASSESSMENTS
 TRANSPORTATION INFRASTRUCTURE
IMPROVEMENTS
 UTILITY INFRASTRUCTURE
IMPROVEMENTS
 ANNEXATION & ZONING
 DETAILED DEVELOPMENT PLAN

8. Key Functions of the Economic Development
Process
 Business Retention & Expansion
 Facilitate Expansion of Existing Businesses
○ Corporate Headquarter Calls
○ Investment in the Local Assets
○ Mississippi Priority 1 Program
○ Innovative Engineering Program
 Retain “At Risk” Companies

9. Key Functions of the Economic Development
Process
 Research & Marketing
 Access to demographic information for Request
for Proposals
○ Population
○ Education Attainment
○ Available Work Force
○ Location Advantages
 Websites
○ Available Sites & Buildings
○ Quality of Life
○ Work Force

10. Rural Economic Development
 Think Outside of the Box – identify your
niche
 Some of the same functions, but understand
your limitations!
○ Entrepreneurial & Innovative
○ Natural & Physical Resources
(waterways, railroads, colleges, etc.)
○ Creative Economy
○ Small Business (more not bigger)
 Successful Economic Development is
about developing a strategy & going for it!

11. Just a Few Examples

12. Boomtown USA
http://youtu.be/PBydD-BgSMw

13. Mississippi Creative Economy
http://www.mscreativeeconomy.com/blues.
php

14. Mississippi Websites to Visit
 Mississippi Creative Economy
http://www.mscreativeeconomy.com
 Mississippi Economic Council
http://www.msmec.com
 Mississippi Economic Development Council
http://www.medc.ms
 Mississippi Development Authority
http://mississippi.org
 Mississippi Works
http://www.mississippiworks.org

15. Q&A
John Turner
Director, Economic Development
Entergy Mississippi, Inc.
jturner@entergy.com