exploring your region’s economic & demographic foundation

Exploring Your Region’s Economic & Demographic Foundation

Module Two

Session Overview• Examine the current economic development

strategies being pursued within the region’s communities or counties

• Explore the region’s demographic and workforce features

• Deliverable: Assessment of the region’s strengths and concerns

• HQP: Prepare a summary of key findings

Producing a High Quality Plan: The Essential Components

Evidence-Based

Focused on Regional Economic

Development

Aligned with Vision &

Goals

Broadly Supported

Practical

Team’sRegional

Plan

DEFINING ECONOMIC DEVELOPMENT:

PROCEED WITH C.A.R.E.

Elements of Economic Development

Economy• System for meeting the needs and

wants of people in a particular geographic area

Development

• Improvement in the well-being of residents in a particular geographic area

Economic Developmen

t

• An expansion of the economic base through efficient allocation and use of available resources

GOAL: An improved quality of life for people in the region

Source: Barta, et al., 2010

The C.A.R.E. Model

Creation• Encourage the formation of

new businesses in the region

Attraction• Recruit industries or

businesses to the region

Retention• Maintain or strengthen

existing firms in the region

Expansion• Encourage the growth of

existing firms in the region

C.A.R.E.

Group Activity• Categorize activities using the

C.A.R.E. model• Identify common activities, major

differences• Examine the balance between

activities in each component of the C.A.R.E. model

EXPLORING THE DEMOGRAPHIC FEATURES OF YOUR REGION

Major Demographic Characteristics

For more data, go to: http://quickfacts.census.gov/qfd/index.html

Category Key Variables of Interest

Population Population Size Gender Race & Ethnic Composition Age Structure Components of Population Change Population Projections

Household & Housing Number of Households Persons Per Household Type of Households Housing Tenure

Education & Income Educational Attainment Geographic Mobility by Education Median Household Income Persons in Poverty

Health Mortality – Length of Life Morbidity – How Healthy People Feel

Data Analysis Options• Cross-sectional – look at data at

one point in time

• Comparative – examine data in your county relative to other counties

• Longitudinal – focus on changes in the data over time

What to Look for• Conditions the data describe

• Direction of change

• Intensity of change

• Comparison of counties in the region

• Overall picture the data paint

Your Turn – Dig In!

Skilled/unskilled Labor force participation

rate Unemployment rate Occupation mix Experience/age

Your Region’s Workforce

Identifying Skills in the Region

/

INSERT YOUR REGION’S CHART

LIKE THIS EXAMPLE HERE

Evidence Based: What Matters Most for the Regional Plan

• Concerns• Assets• Significant trends• Other

Looking Ahead: Module Three • Investigate the region’s economic

advantage• Explore regional data to identify regional

industrial clusters• Deliverable: Select industry clusters for

further exploration• HQP: Draft a rationale for industries

selected

Preparing for Module Three

Final Thoughts

• Anything need clarification?

• SET contact persons:

Extension Service:

State USDA RD: