Ran across this article and think a lot of what it says is true.
"You argue that U.S. cities need to grow a different kind of economy. What kind of economy are you talking about?
At the city-metro level, there has been too much focus on what we call Starbucks, stadia and stealing businesses. It's a consumption-driven growth model that in the end doesn't really expand and extend your economy. It's just recycled income. We've got to grow the pie.We believe, as do many others, that we need to use this past recession as a wake-up call and shift to an economy that first and foremost is driven by exports, greater global engagement, and the production of high-value goods and services -- building off what has been our manufacturing base and advanced-services base. That will be the way to enhance the fiscal base of cities. Exporting firms, manufacturing firms and innovative firms pay better wages for a broad spectrum of the workforce."
"...a Wal-Mart is a Wal-Mart is a Wal-Mart whether it's in Phoenix or Pittsburgh. But what Phoenix and Pittsburgh trade within this country and with the rest of world is completely different. My view is that going forward cities and metros need to be very intentional and purposeful about building on special assets and strengthening their distinctive strengths. If you do that, housing and retail will follow. Those are derivative -- not driving -- sectors. We lost sight of that fundamental economic fact."
"...successful metro areas understand who their trading partners are domestically and globally. You see this in Seattle and Northern California. They interact on a constant basis with the cities and countries they trade with and strengthen the linkages between their communities and their trading partners abroad. A lot of trade growth is relationship-driven. At the city level, what matters are relationships between and among elected officials, investors, manufacturers and service firms. San Francisco has become pretty adept at helping local firms identify markets abroad and helping Chinese investors find good investments here. "
"The bulk of positive job growth builds from current clusters and sectors. Stealing business from a neighboring state is a low road kind of growth. Building on special, distinctive strength is the high road. When you build a robust platform for advanced manufacturing or high-value services, that's the gift that keeps on giving. Development of a successful economy starts with an understanding of who you are. What is the distinctive nature of your economy. It's not how to be like everyone else, which describes the old economy -- building lots of housing, attracting big-box retailers. The next economy will reward places that build on distinctive strengths."
Full article here...
http://www.governing.com/columns/public-finance/building-new-financial-base.html I am glad we have as a city done the things we have done lately, New Arena, ballpark and downtown development, and hopefully the wrap up of the new Comprehensive Plan. We needed those things to, if anything, build some self-esteem and become a more desirable, well rounded, city to live in. A city with not just good suburban lifestyle options, but the beginnings of good urban lifestlye options as well, for more and more people are wanting to live and work in good urban environments.
I am glad we have invested in higher education, though I still think we could do more in that realm along with other job/career preparation programs (High School to Tech as one type) and teaming up with businesses to grow and enhance the industry clusters we do have along with any new ones we want to develop. That is something we and our leadership need to redouble our efforts on, along with actively facilitating the promotion and connection of our industries with the rest of the world in order to help promote local exports and growth of our high value service industries.
In what manner are our local government entities doing this? Which ones are responsible for doing this? And how could they improve?
As exciting as it is to see Blake put in another business downtown, or to see something else go in at Southern Hills, we can't forget that a higher priority at this time is for us to be nurturing our "industry clusters"
http://www.isc.hbs.edu/econ-clusters.htm and facilitating their export growth.