The news headlines tell a very sobering story for the Greater Reno-Tahoe economy as we embark on a new year: unemployment in the Reno-Sparks MSA is 13.8 percent (December 2010) and Nevada leads the nation in high school dropouts and home foreclosures.
Statistics don't lie. But, as I've seen in the more than 12 years working in economic development, it's the community that makes the difference in turning a negative statistic into a positive one. What's the saying? "If you think you can or you can't, you're right." A 'Can Do' attitude can make the difference in a community recovering or languishing during such tough economic times.
Certainly "willing" an economic recovery isn't what I'm suggesting and creating jobs is a No. 1 priority. As Governor Sandoval said in his State of the State address, the focus is on "helping businesses create jobs. The key is to get Nevada working again."
Successful economies are those that meet their economic development tenets and are competitive as a place where businesses and skilled workers want to be. Becoming known for a strong K-12 and higher educational system that graduates skilled workers to meet the new economy's job opportunities we're trying to create is foremost. Companies aren't going to want to relocate here or expand if we can't offer them a skilled workforce. Also key is providing businesses with a more predictable tax climate, structure and certainty from which they can build their business and plan for the future. And, building an image that Reno-Tahoe is a diverse economy with an emerging clean energy sector, a growing manufacturing and logistics hub and a place where entrepreneurs see their companies thrive is vital.
We must apply these economic diversification strategies, among others, to pull our region out of the economic doldrums it's in today. What I am suggesting is that "community" is a crucial component to our region's economic recovery. The community can positively impact economic diversification through its actions, attitudes and influence.
One needs only to consider those marketing and grassroots campaigns that cities and regions have employed over decades to engage the populace in meaningful ways. Arguably the most famous is the, "I Love New York" campaign which began in 1977 and helped revive a struggling tourism and city economy. Sound familiar?
While Reno-Tahoe is not New York, nor do we strive to be, I think we can all relate to the sense of urgency that something must be done to get the economy back on track.
Another notable grassroots campaign, also initiated in the Big Apple, was the "Give a Damn" initiative developed by the New York City government under Mayor John Lindsay. While its goal wasn't economic diversification, it was a campaign to engage the city to do civic improvements, help out more blighted, impoverished areas, and create a sense of hope.
I share these examples of what's possible because last October, a group of 200 business owners, community and government leaders attended an annual meeting sponsored by the Economic Development Authority of Western Nevada. Aside from reporting on new companies that have relocated to the region, and expansions of existing businesses, jobs created and capital investment, a grassroots community campaign, Reno-Tahoe Can Do Business Starts Here, was launched to help build a culture of business in Reno-Tahoe.
The concept is simple. The more we as business owners, executives, and citizens communicate to each other and anyone who will listen, that our region is serious about business and is a great place to live, work or start a business, companies outside our region will begin to want to be part of what we already know.
How can you support economic diversification? Here are five ways:
* Reno-Tahoe Digital Ambassadors: Join this social networking group of business executives, community and government leaders, and citizens who communicate positive happenings in the community via their LinkedIn, Twitter and Facebook accounts or by email. That positive news spreads through these connections helping reach companies and workers outside the region. More than 130 have joined the group to date! Become an ambassador, by contacting Julie Ardito at: julie@arditopr.com.
* Attend an EDAWN Business BUZZ: Attend the series of quarterly economic forums that are held throughout the year that tackle key issues impacting the business community. The first was held in December at Renown Health with Dr. Heath Morrison discussing "Economic Development and K-12" education. More than 75 business leaders attended. The next forum, in March or early April, will focus on "Beyond Target2010" and next steps for expanding this economic strategy for the region.
* Can Do Business Toolkit: Access your online toolkit at www.edawn.org/toolkit. Pick and choose what tools you can use to support economic diversification, including adding the Can Do Business button to your Web site.
* Use your Can Do Elevator Script: When someone asks you about where you live and work, use the elevator script that's available in your Can Do Toolkit. That way, everyone is communicating the positive attributes of Reno-Tahoe as a place to do business and live.
* Join EDAWN: As a not-for-profit organization, refer a friend or colleague to EDAWN to support its ongoing economic diversification efforts.
Not everything is perfect and much has to been done to get our economy humming once again. A full-court press will continue with business recruitment and expansion efforts, building venture capital funding systems, continued improvements to our educational system and meeting our local and state budget challenges. It will be a long haul and not an easy road.
But, since we don't get a clean slate, we need to start supporting economic diversification now ... today. As our Governor said last week at the State of the State, "each one of us has a role to play in economic recovery." If each of us does one of the five things mentioned here, we can show we "Give a Damn" and make a difference.
Chuck Alvey is president and chief executive officer of the Economic Development Authority of Western Nevada. Contact him through www.edawn.org.
