Regional economic strategies too often rise and fall on what you can attract rather than what you can grow. While an instant cluster of an industry with high-wage jobs is certainly desirable, it rarely happens that way. Even if your community is lucky enough to attract a high tech firm or even a manufacturing company there is usually a market to be developed by local entrepreneurs or inventors. These same folks can define a region based on an idea or a concept. As we read earlier in he week, Google helped spark the Silicon Valley explosion. So you say, let's just get some entrepreneurs. If only it were that easy.
Regions have to make a commitment to attract, foster, and support entrepreneurs if they hope to galvanize that part of their economy. Skills have to be taught. College and universities are doing that in some places. Venture capital has to be available. And the region has to have business incubators so there is a place to house and encourage small business development.
Entrepreneurship may be a major key for keeping rural areas vital and thriving. The Kellogg Foundation report on rural entrepreneurship gives and in depth view of the idea and how it is working across the country. Walport, OR, has engaged in a very interesting community process that is focused on creating a viable economy for their community and region. It includes dialogue, asset-based development, and cooperation--some of my very favorite community components.
The bottom line is that we need entrepreneurship to insure that our economy grows, changes, and responses to new demands and opportunities. If you haven't developed that segment of your regional economy, go to your nearest college or university and start the conversation. Want to know what to say or what to ask? Read on.
Hello Suzanne - Smart communities are often regional communities. I've been in regional planning 35 years and see the emergence of "regional community" in the U.S. and around the world. Worldwide localities are facing the same issues. A link to this post will be in the next issue of Regional Community Development News. It will be on-line May8 at http://regional-communities.blogspot.com/ Please visit, check the tools and consider a link. Tom
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