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Economic Development

July 12, 2008

Registration Now OPEN for Create WV Conference

A special, “early bird” discount price is available for the 2008 Create West Virginia (Create WV) Conference. The special price of $229.00 will only be in effect through August 31. This year’s conference, aimed at helping communities expand and improve their economies through cultivation of the creative and high-tech industries, is set for October 20-22 and will take place at Snowshoe Mountain Resort.

Registrations can be reserved at www.createwvevents.com.

Last November, the Creative Communities Team of Vision Shared hoped to attract 100 community and business leaders to the first annual Create WV Conference. By the end of the event, over 250 attended. This year, the Create WV Conference is expected to draw close to 300 registrants to Snowshoe Mountain Resort to learn more about new jobs and opportunities in today's wired, global and innovation-driven environment.

“The Create West Virginia Conference demonstrates - step by step - how communities can generate New Economy jobs in their region,” said Creative Communities Chair Jeff James. “These are the jobs that are driving growth around the world, and it’s already happening right here in West Virginia. This conference is about how to add fuel to that fire.”

The conference is an energizing, informative mix of hands-on workshops and inspiring keynote presentations, spanning topical areas such as talent, technology, education, diversity and place. Keynote speakers include such notables as Dale Dougherty, founding publisher of Make magazine; Robert Kitchins of Northern University of Ireland; and Vaughn Grisham, director of the McLean Institute for Community Development and professor of Sociology at The University of Mississippi.

Registration price for the conference returns to the normal rate of $349 after August 31. Snowshoe Mountain Resort has reserved special room rates, beginning at $84 and up. Those interested in attending should register now; the Create WV conference is expected to draw over 300 attendees. For more information about the Create WV initiative or to register for the Create WV conference, please visit www.createwv.com.

About Vision Shared

Vision Shared is a cultural movement of significant importance to the state of West Virginia, which encourages citizens to work together in new ways. Fundamentally, the effort seeks to bring about positive change and grow the state’s economy.

July 09, 2008

Creating a Sense of Urgency for Our Economic Future

According to their web site, the Milken Institute "is a publicly supported, nonpartisan, independent think tank whose work makes a difference in the lives of people worldwide by helping create a more democratic and efficient global economy."

They recently published their "2008 State Technology and Science Index" which ranks states on their ability to take advantage of tech-science related economic growth. It includes 77 unique indicators that are categorized into five major components: Research and Development Inputs, Risk Capital and Entrepreneurial Infrastructure, Human Capital Investment, Technology and Science Work Force, and Technology Concentration and Dynamism. 

Guess where West Virginia ranks on most indicators?

What is most discouraging is that we actually slipped backward in many rankings from 2004 to 2008 (from 46th to 49th overall). Lest we think these rankings are biased towards large states with bigger resources: And lest we get discouraged that a low-ranking state can't make huge leaps in a relatively small period of time, North Dakota jumped 14 spots from 45th in 2004 to 31st place in 2008:

New Hampshire breaks into the top ten overall, moving up from 12th to 9th place. The state is boosted by its performance in the Research and Development Inputs Composite Index, where it places 5th. New Hampshire ranks 2nd in the nation for phase II Small Business Innovation Research awards per 10,000 business establishments and places in the top five for academic R&D dollars per capita. New Hampshire’s enhanced prowess in the technology and science commercialization area is highlighted by its 5th-place finish in the percentage of establishments in high-tech industries.

[North Dakota's] meteoric rise was driven by advancements in STTR awards; R&D expenditures in biomedical, physical sciences, and engineering; and improvements in industry R&D. North Dakota’s strong momentum stems from the state government’s commitment to develop “Centers of Excellence.” Unveiled in 2004, this plan earmarks a portion of the state budget to matching funds for universities and colleges that develop Centers of Excellence that foster regional development in science and technology.

So we're on the right track with Bucks for Brains, but we have to ensure those dollars get invested wisely and commercialized efficiently. North Dakota also gained from its efforts to retain talent through $5,000 tuition reimbursements for students in technology and teaching fields who chose to work in-state after graduating from local universities. (West Virginia's Promise Scholarship delivers its scholarship investment in students up front, but currently has no built-in incentive for staying in state after graduation.)

The current and future success of economies is tied more and more to technology. We can't afford to be ranked at the bottom of these categories year after year. Isn't it time we elevate this to the #1 issue for the long-term well-being of our state? 

July 08, 2008

States Competing for Creative Dollars

An interesting article from Business XPansion Journal highlights how states are competing with each other with tax credits to draw the lucrative film and media industry to produce within their borders. As more regions wake up to the growth potential, the competition is heating up.

“It has taken a while to embrace these industries as true economic development,” says Sherri McConnell, director, Louisiana Office of Entertainment Industry Development, a division of the Louisiana Economic Development Department. “It is a hard thing to measure, but it is undeniable when you are living in the middle of it.”

However, competing for this business is about much more than tax credits. States that have invested in infrastructure and "cluster" services around the entertainment and media production industry are more attractive for startups and production site selection teams.

New Mexico also has a cluster base of companies involved in simulation and visualization, skills that not only transfer to creative industries but also to homeland security and medical industries. The state's goal is to become a center for production; not a distant location. Film and digital media companies will find a range of services and businesses that are located in the state, as well as a crew base.

West Virginia recently passed some incentives targeting this industry with the help of Delegate Corey Palumbo and his friend and state-native movie star Jennifer Garner. However, West Virginia needs to go much further in developing a cluster of expertise and industry services around some media-related niche industries to compete in this larger economic growth sphere. 

July 06, 2008

Giving New Economy the Old College Try

One of the most strategic actions West Virginia could take is to develop stronger regional partnerships between the 20+ colleges and universities in the state and their surrounding communities. A healthy four-year institution can be a hub of every pillar of new economy success: diversity, technology, quality of place (cultural and otherwise) and talent/education.

Many large, elite universities around the country have become extremely proactive in embracing the role they play in growing a vibrant regional economy and community. Much of these efforts were based more on enlightened survival needs vs. charity. They had no choice; universities were having a difficult time recruiting students to go to school in the blighted communities in which the school resided.

The University of Pennsylvania, for example, instituted a low-interest loan program to assist faculty in purchasing older homes and renovating them. They even went so far as to partner with the City of Philadelphia to build a completely new public school to attract new residents to the West Philadelphia community around Penn. The president of Penn at the time of the revival was hailed as a savior for that area of the city, and even wrote a book about the experience.

We see some schools in the state branching out of the traditional "town vs. gown" walled existence to spark promising new initiatives. Glenville State College has partnered with local developers to build much-needed new housing. West Virginia University has received kudos by the City of Morgantown for their improved openness and willingness to jointly plan for growth with the community.

Buck Smith was recently named president of Davis & Elkins College, a small, private liberal arts school with a rich history. Recently, however, enrollment has dropped and the school is down to 640 students and 45 faculty.

He said his #1 goal is to see students and faculty become involved in community-service projects, thereby making the region a better place. Longer term, his plans include doubling the enrollment of full-time students by 2013 and increasing the number of international students. "The first thing we'll probably do is make this a wireless campus with expanded broadband access," says Smith.

Smith's philosophy is encouraging for anyone in West Virginia who wants to see change. "I have followed a simple little rule - it really isn't our resources that limit our decision, it's our decision that limit our resources."

We wish President Smith and the Elkins/D&E community great success and look forward to sharing their successful partnership efforts towards building a creative community prepped to thrive in the new economy.