Creating a strategy for regional economic development

Another strategic planning effort? Didn't we just do that with the Target2010 effort five years ago? Is it just something for all of us to do, or as Gov. Jerry Brown said, "The reason that everybody likes planning is that nobody has to do anything." I think we all know that the world has changed a great deal over the past five years. For those that are waiting for things to go back to the way they were, it will be a long wait. While some of the strategies detailed in the regionally developed Target2010 plan are still relevant, the economic world was very different then, so much of the plan is now obsolete. We must, as a region, accept the new reality and prepare to compete in the new economic world. That means we need a new (or significantly updated) strategic plan that will guide us to success in the coming years. That is just what we are going to do with the ongoing strategic planning initiative as part of the ReCharge Nevada Coalition.

ReCharge is a coalition of the region's local governments, the Nevada System of Higher Education and research, business groups and concerned citizens that are working together to create a new economic development vision for the region. As part of this coalition a working group was formed, lead by the Economic Development Authority of Western Nevada, to develop the Greater Reno-Sparks-Tahoe three-year Economic Development Strategic Plan. The working group is committed to laying out the strategies needed to attract, expand, retain, and grow quality jobs in the region while working to diversify the economy in the area. This effort is one of many ways that ReCharge is coordinating communities and stakeholders within the region to represent collaborative economic development goals, strategies and programs demonstrating that we work better together as a unified, coordinated region.

In February 2012, working from existing plans and reports, including Target2010, the Governor's Office on Economic Development's (GOED) plan, Moving Nevada Forward: a Plan for Excellence in Economic Development, and the 2011 Brookings/SRI study commissioned by the state, EDAWN compiled a draft outline of the Greater Reno-Sparks-Tahoe economic development strategic plan. This draft includes preliminary objectives and strategies for feedback and discussion with stakeholders and the community at-large. Additionally, this regional plan is coordinated with and a complement to the planning efforts being conducted by the Northern Nevada Development Authority just south and east of the Reno-Sparks-Tahoe area.

An open and inclusive input and outreach process was launched in March and continued through April. This process includes several work sessions with more than 120 economic development stakeholders including city and county government, Washoe County School District, higher education partners, real estate brokers, Truckee Meadows Regional Planning Agency, entrepreneurship groups, NNDA and many other organizations, individuals and companies. Industry focus groups and interviews have been conducted or scheduled with current companies in each of the region's targeted economic development sectors: aviation and defense; back office and business support (call centers); clean energy (especially geothermal); distribution and logistics; ecommerce fulfillment; financial and professional services; manufacturing; and tourism.

At the April 26 ReCharge Summit and Community Forum, the community at-large had the opportunity to preview and provide additional feedback to the draft plan. The goal is to have a draft plan complete in May and to start the implementation of the plan as soon as possible. There is not time for a lengthy, 18-month planning effort, given our high unemployment rate and the over 20,000 residents still in search of a quality job.

The region's economic development plan is focusing on the following five objectives:

* Attracting new companies from outside the region that provide new jobs with salaries above the regional average in target sectors;

* Supporting entrepreneurs and increasing new company start-ups in the region;

* Keeping jobs already in the Greater Reno-Sparks-Tahoe region and helping the region's companies expand the number of employees they hire;

* Facilitating educational development of the current and future workforce;

* Enhancing the community so that it continues to evolve as an attractive, competitive place to do business and live.

The plan includes specific strategies (or programs and actions) the region will implement to achieve the above objectives some led by EDAWN, some by the region's economic development partners. Measurable results tied to each objective will also be an important part of the strategic plan as they will provide validation that the strategies are meeting the region's goals for new jobs and economic diversity.

It is important to note that the Greater Reno-Sparks-Tahoe Three-Year Economic Development Strategic Plan will align with the state's priorities, objectives, target industries and strategies. Additionally, the plan will commit to add 7,500 new jobs in Greater Reno-Sparks-Tahoe by 2015 as part of Gov. Sandoval's state goal of 50,000 new jobs in Nevada by 2015. ReCharge and economic development stakeholders in the region see several opportunities to coordinate with the state's programs to ensure our region is working with the state and benefiting from not just the state's economic development funding, but participating in programs and economic development efforts that directly benefit the region.

An outline of the objectives and correlating strategies based on feedback received to-date is available online at www.edawn.org/strategicplan. Visitors to this web link can provide feedback to the plan. The strategic plan will be considered a "working, living" document that will adapt to changes in the region's economic climate, needs and priorities. Ultimately, the plan being developed will add quality jobs to the region, as well as improving our long-term economic health, adding diversity and encouraging economic growth. We must all support this effort as we prepare for the economic challenges ahead. As Benjamin Franklin said, "By failing to prepare, you are preparing to fail. This is one initiative that must succeed.

Mike Kazmierski is president and chief executive officer of the Economic Development Authority of Western Nevada. Contact him at kazmierski@edawn.org or 829-3737. Lorna Shephard is principal of Red Dog Consulting. Contact her through www.red-dogconsulting.com.