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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006
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RECAP: Greater Boston’s Key Challenges & Scan of the Competition
Mary Jo Meisner, Vice President for Communications, Community Relations and Public AffairsThe Boston Foundation
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Greater Boston MSA Population 1969-1999
3918 3939
4134
4391
3600
3700
3800
3900
4000
4100
4200
4300
4400
4500
1969 1979 1989 1999
in T
ho
us
an
ds
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Greater Boston MSA Employment 1969-1999
1605
1887
2159
2244
1500
1600
1700
1800
1900
2000
2100
2200
2300
1969 1979 1989 1999
in T
ho
us
an
ds
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…Since 2001, MA’s pop. & employment have declined relative to the U.S.
Source: New England Economic Partnership
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Metro Boston’s 1990s economic engines are now lagging
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With a high and rising cost of living
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Our region now has the highest family costs among competitors
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0.50
0.60
0.70
0.80
0.90
1.00
1.10
1.20
1.30
1990 2000 2004
Rat
io
Source: Median income from the Census (1990 and 2000) and Current Population Survey (2004). House prices based on the OFHEO index. Income needed based on a monthly payment including principal and interest on a 30-year conventional mortgage with 20% down, real estate taxes and insurance, and a qualifying income of 28%.
Yet the housing affordability gap in Greater Boston continues to widen
Threshold of Affordability
Ratio of Median Income to Income Needed to Purchase the Median-Priced House
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The region has grown only due to immigrants, with recent net losses
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With global & regional competitors catching up
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Yet our public higher education funding is erratic & lower than competitor states
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Despite gains, MCAS proficiency is stuck in neutral, scores for young children are falling, and dropout rates are rising
MCAS grade 10 English Language Arts score by race/ethnicity: Boston Public Schools and Massachusetts: 1998-2004
0
1020
3040
50
6070
80
1998 1999 2000 2001 2002 2003 2004perc
ent s
corin
g pr
ofic
ient
or a
dvan
ced
White-BPS
White-Mass.
Asian-BPS
Asian-Mass.
Black-BPS
Black-Mass.
Hispanic-BPS
Hispanic-Mass.
Source: Massachusetts Department of Education and Boston Public Schools
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And waiting lists are rising for the first rungs of educational opportunity:Basic literacy & English classes
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To top it off: Weak networks & “brand” compared to competitors
NETWORKS:
More fragmentation, less collaboration, fewer linkages
BRAND:
“Old, cold, expensive, unwelcoming, and anti-business – a difficult place to get things done…”
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Our mutually reinforcing assets are now out of alignment, with housing costs our weakest link
RegionalNetworks and Collaboration
Infrastructure Costs
Demographics and Immigration
Regional Brand
Education
Mutual Reinforcement
RegionalNetworks and Collaboration
Infra-structure
Costs
Demographics and
Immigration
Regional Brand
Education
Unaligned Links
…when there are engines that are not contributing you may be only as strong as your weakest link.
Forces Within the Dynamic System Contributing to Growth
Strongest Link
Weakest Link
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We Have Big Ideas:
• Focus strategies on talent & innovation
• Create a talent-friendly environment
• Drive growth from Greater Boston throughout the Commonwealth
• Be a leader in creating talent partnerships with China, India and other innovation clusters
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But our competitors have Big Ideas, too:
• Often the same ideas…
For example:
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Chicago Metropolis 2020:
a business-inspired,
broadly inclusive
plan for the 21st century
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NC’s Research Triangle: ‘Where the minds of the world meet’
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Research Triangle
Park
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Innovation Philadelphia: local innovation/global partners, student retention initiative, wifi
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Multiple languages at phila.gov
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Central Florida: ‘Putting the pieces together’
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TheSan Francisco Bay Area
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A NEW MODEL: Coordinated, Distributed Leadership
John LaWareLeadership
Forum
Open, Dynamic Civic Leadership
World Class Human Capital 21st Century Infrastructure21st Century Jobs and Economic Strategies
Regional Branding & Marketing
•New England Council•Boston Fed
•5th Century Trustees
Pre-K-11 Education• Early Education for All Campaign
• Great Schools Campaign
Regulatory Reform/Home Rule:• Rappaport & Pioneer Institutes
• Sovereign Bank• MAPC
MMA, Mass Taxpayers, CURP
Innovation Economy Jobs• Economic Stimulus Bill•Jobs for Massachusetts
• Global Massachusetts 2015
Higher Education• Senate Task Force on Pub Higher Ed.
• MetroBoston College Presidents’ Alliance
Transportation• Multi-stakeholder CURP Initiative
Workforce Training• SkillWorks
• Community - Industry Partnerships
Housing• Commonwealth Housing Task Force
Health Care• Multi-stakeholder initiatives
Energy• Mass Tech Collab., NE Council;
Technology Access/Solutions• MA Technology Leadership Council
Regional Planning• MAPC’s MetroFuture
NewLeadership
Pipeline
Cultural FacilitiesEconomic Stimulus Bill/Match
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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006
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Chapter 40R & 40S … and Beyond
Getting the Incentives Right: Housing
Barry Bluestone
Director, Center for Urban & Regional PolicyNortheastern University
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New Single Family Home Permits – Greater Boston
8,639
7,7757,102
6,313 6,4086,020
7,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
1998 1999 2000 2001 2002 2003 2004
Pe
rmit
s
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Me
dia
n H
om
e P
ric
e
Permits Median House Price
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The Commonwealth Housing Task Force
• Not a new organization but a federation of business, labor, environmental groups, housing developers & advocates
• Relies on housing studies & “report cards” to analyze the problem, craft new solutions
• A partnership with NU’s Center for Urban and Regional Policy to encourage new housing construction
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Principles for a New Approach to Housing
• INCREASE PRODUCTION EFFICIENTLY: Zone enough land to meet the demand for new housing when and where it is needed.
• SMART GROWTH: Protect open space and enhance historic preservation while providing more housing.
• GET INCENTIVES RIGHT: For developers and for local communities.
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40R Basics
• Overlay Districts near transit & city, town and village centers – the olde New England model
• “As of right” residential development, with minimum allowable densities
• 20% of the units affordable
• Mixed Use
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40R Incentives
up to 20 units -- $ 10,000 201-500 units -- $350,000
21-100 units -- $ 75,000 over 500 units -- $600,000
101-200 units -- $200,000
A one-time “Bonus” for each new or rehabbed unit
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The School Cost Problem
• A modest home in a typical community will have, on average, 1 student
– the home will contribute $2,000 - $2,500 annually in property taxes for education, but the student costs $7,000 - $10,000 to educate
– community forced to: reduce average education expenditures per child, or increase taxes through an override
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A Stumbling Block
• Communities reluctant to permit higher density: municipal finance implications are not favorable.
• School costs are a stumbling block (constraints from Prop 2 ½ and declining local aid)
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Declining Local Aid
Non-Chapter 70 Real State Aid Per Capita to Municipalities, by Type
0
50
100
150
200
250
300
350
400
81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04
In $
20
00
Do
lla
rs
Additional Assistance Lottery Other
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Local Spending Lagging
Real Growth in Spending or Income, 1987-2004
2.4
2.9
3.3
1.1
1.7
2.0
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5
Non-Education Municipal Expenditures
All Municipal Expenditures
State Spending (Net of Local Aid)*
Massachusetts Personal Income
U.S. Personal Income
U.S. Personal Consumption Expenditures
Annual Average Percent Change* 1988-2004
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Residential Property Tax Stress in the Commonwealth
Change in Property Tax and Household Income, 1989-1999
59.1
-5.3
66.6
6.5
-10 0 10 20 30 40 50 60 70 80
Average Single FamilyTax Levy
Median HouseholdIncome
Average Single FamilyTax Levy
Median HouseholdIncome
Percent Change
Median Town in Top Half of Income Distribution and Growing Median Household Income, 1989-99
Median Town in Bottom Half of Income Distribution and Declining Median Household Income, 1989-99
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40S School-Cost Insurance
• Provides “insurance” for net new school costs
• By underwriting net school costs, the Commonwealth provides an incentive for communities to permit modest priced single family home construction
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The Costs/Benefits of Chapter 40S
• No costs until FY 2008
• < $2.0 million in 2008 ramping up to $35,000,000 in FY 2014
• Goal: 11,000 new single family housing units
• Only 0.8% of the projected Chapter 70 School Aid budget in 2014.
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A Contribution to Economic Development – beyond Housing
• New research at CURP -- working with NAIOP – underscores the critical role of local municipalities in economic development
• Firms locate in cities & towns, not states
• Local fiscal capacity is essential to attracting and retaining people AND firms
• Must offset high private sector costs with quality public services
• Limit high local property taxes
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40S is only one aspect of local Aid Reform
• The Massachusetts Taxpayers Foundation recommends an increase in local aid to 40% of state generated revenues - an estimated increase of $1 billion back in FY2005
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To Ensure Prosperity:
• Implement Chapter 40R & 40S – New incentives to reduce the cost of living
• Advocate for increased local aid investment in cities & towns to help them retain & attract business and jobs
• Replicate “federation” approaches like the Commonwealth Housing Task Force to create consensus
• Focus on leadership, partnership, and getting the incentives right
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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006
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Building an Integrated System of Educational Excellence
Maura BantaCorporate Community Relations ManagerIBM
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Our global & regional competitors are advancing in educational attainment
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Education & immigrants – the key to the future workforce
24.7%
20.9%
13.8%
4.2%
36.4%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Less than HighSchool
High School Some college Associate's Bachelor's orhigher
Source: MassInc, US Census, CPS data.
Educational Attainment: Immigrant Labor Force arriving in MA 90 - 00
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And despite investment and gains, MCAS proficiency is stuck in neutral
MCAS grade 10 English Language Arts score by race/ethnicity: Boston Public Schools and Massachusetts: 1998-2004
0
1020
3040
50
6070
80
1998 1999 2000 2001 2002 2003 2004perc
ent s
corin
g pr
ofic
ient
or a
dvan
ced
White-BPS
White-Mass.
Asian-BPS
Asian-Mass.
Black-BPS
Black-Mass.
Hispanic-BPS
Hispanic-Mass.
Source: Massachusetts Department of Education and Boston Public Schools
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Our funding of public higher education is erratic & among the lowest
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The OVERARCHING GOAL: An Excellent Pre K- 16 & Workforce Development System
Public &Private
Colleges,Universities
K-12
EarlyEducation
Lifelong Learning
Workforce Development
Adult Literacy & English Skills (ABE/ESOL)
Out-of-SchoolEnrichment
Healthy ChildDevelopment
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Broad Agreement Among Business Leaders on Core Goals
• Quality Early Education• Quality Teaching/Teacher Training• High Standards (Proficiency), Quality Measures• Overcoming Disparities in School Quality & Student
Outcomes• Excellence in Math & Science • Ready Access to Adult Basic Education
(ESL, ABE)• Importance of Public Higher Education• Workforce Development At All Levels
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Excellent Business-Supported Initiatives Underway
PRE K- 12• Early Education for All
Campaign• Just for the Kids -Mass
Business Alliance on Education
• Great Schools Campaign – Mass Insight Education
• Rennie Center – Research plus
• Teacher 21 – Mass Business Roundtable
• NGA Grant to MA
HIGHER EDUCATION• Senate Task Force on Public
Higher Education -Budget Recommendations
• R & D Centers of Excellence – Technology Road Map/Mass Insight
• STEM (Science, Technology, Engineering, Math) - School to Career
• Goldberg Seminar –collaboration among institutions
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Workforce/Career Development
SkillWorks: A New Initiative
• 5-year, $15 million partnership: Foundations, City of Boston, Commonwealth of MA
• Directly engages employers
• Targets health care and hospitality
• $30-$40 million pending Economic Stimulus Bill
A fragmented “system.”
But what works?
Need research & pilots at all levels
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The First Rung of the Ladder: Early Education…
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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006
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Understanding the Importance of Early Education
Mara G. AspinallPresidentGenzyme Genetics
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The Early Years Are Learning Years
Brain Growth Compared to Public Expenditures on Young Children
0
10
20
30
40
50
60
70
80
90
100
Age of child (years)
Sources: Public expenditures: RAND analysis.
Percent of totalbrain growth
Cumulative percent of public dollars spent on children
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Early Education Pays in Better Child Outcomes
Source: Reynolds, "Journal of the American Medical Association.
The Children of the Chicago Child-Parent Centersat Age 20
55%
25%
25%
15%
50%
47%
23%
14%
17%
39%
38%
9%
0% 10% 20% 30% 40% 50% 60%
Completed High School
Dropped Out
Retained in Grade
Placed in Special Education
Arrested by Age 18
Arrested for Violent Crime by Age 18
CPC PreschoolParticipants
ComparisonGroup
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$3K
$7K $10K $14K $58K
$14K
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000
Costs
Benefits
$7.16 in benefits for each dollar invested
Welfare Special education Taxes on earnings
Justice system Crime victims Preschool
Early Education Returns $7.16 Per $1 Invested
(Lifetime savings per participant (based on age 27 follow-up) in 2001 constant dollars, discounted 3% annually)
Sources: Barnett, High/Scope Press.
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An Increasing Priority Across the Nation:
– 3 States have Universal Pre-K • Georgia • Oklahoma • Florida
– 12+ States moving toward Universal Pre-K • New York • New Jersey • North Carolina
– Early Ed a top priority in Gubernatorial Elections • Virginia • New Jersey
– 26 States increased Pre-K Investment in FY06
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H.4582: An Act Relative to Early Education and Care
CREATES:
– The framework for a new voluntary, high-quality universal early education program
– Research-based standards
– Accountability via strong child assessment & program measurement
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What Can Business & Civic Leaders Do?
– Join the Campaign
– Contribute expertise for economic & policy analysis
– Participate in legislative advocacy
– Connect EEA with HR staff to engage your employees
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www.earlyeducationforall.org
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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006
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Developing a Brand Name for New England
Lynn Browne
Senior Vice PresidentFederal Reserve Bank of Boston
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• Mike Reopel of Deloitte Consulting:
– New England does not offer potential investors a clear positive message
– Little marketing compared to competitor regions
– Region should develop and market its “brand”– An easy fix
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• Mike continued:
– New England states should work together
• Greater impact
• Region is more marketable than individual states and cities
– Boston’s dynamism and culture complemented by recreational opportunities and lower costs elsewhere
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Audience comments:
- Massachusetts has a brand: state is a difficult place to do business
- We need a positive theme that drives action
- Example: Singapore as talent hub
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• What to do?
• Develop a positive message–True–Meaningful–Brandable
• Market message aggressively–Both governments and business
• Act to reinforce our message
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• What to do?
– Attack our negative image• Fix problems• Dispel inaccuracies• Say less about things beyond our control• Can we be more courteous/welcoming?
- Smiley face was invented by Harvey Ball of Worcester
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• Elements of a positive regional message
– Innovative, entrepreneurial culture– Sophisticated professional workers & firms– Magnificent research & teaching institutions– Abundant recreational & cultural opportunities– History everywhere
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• New England states already have a common website: Team New England
• Marketing tag lines– Massachusetts: It’s All Here– You Belong in Connecticut– Blue Sky Rhode Island: Think Big, Start
Small, Scale Fast– Think Vermont
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• Could we
– Convey a more substantive message?
– Be clearly linked to our region?
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• What next? Form a task force to work on a regional brand
and a marketing strategy
• Send ideas and suggestions toSusan Asci, New England Council
Lynn Browne, Federal Reserve Bank of Boston
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Federal Reserve Bank of BostonThe Boston Foundation
Greater Boston Chamber of Commerce
New England CouncilNational Association of Industrial and
Office PropertiesAssociated Industries of
Massachusetts
Mass Insight
January 11, 2006