GFOA Fall Conference Economic Development

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GFOA Fall ConferenceEconomic Development

• Dick Story, CEcD, FM
• Chief Executive Officer
• Howard County
• Economic Development Authority

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What is Economic Development?

• The process of creating wealth
• through the mobilization of human, financial,
  capital, physical, and natural resources to
  generate marketable goods and services...
• ...The economic developers role is to influence
  the process for the benefit of the community
  through expanding job opportunities and the tax
  base.

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• You Gotta Have a Plan

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2001 Strategic Plan
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Strategic Partnerships

• Economic Development Authority Board of Directors
• Private Sector
• Government Agencies
• Civic Organizations

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Situation Assessment

• Compares Howard County with 20 similar
  high-growth counties in the United States
• Reviews best economic development practices

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Areas of Excellence
SITUATION ASSESSMENT

• Highly educated population

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Areas of Excellence
SITUATION ASSESSMENT

• Professional, scientific and technical service
  employment

• Highly educated population

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Areas of Excellence
SITUATION ASSESSMENT

• Highly educated population
• Professional, scientific and technical service
  employment

• Per capita income

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Areas of Excellence
SITUATION ASSESSMENT

• Highly educated population
• Professional, scientific and technical service
  employment
• Per capita income

• Diverse population

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Strengths
SITUATION ASSESSMENT

• Healthy, diversified employment base and economy
• Highest quality labor force
• High quality of life
• First-rate transportation infrastructure
• Well-functioning community

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Challenges
SITUATION ASSESSMENT

• Fast-growing population
• Small land area
• Densely populated
• Sprawl-threatened location between Washington and
  Baltimore

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Potential Limitations
SITUATION ASSESSMENT

• Lack of public transit
• Lack of local higher education institutions and
  students
• Association with negative urban perceptions
• Potential loss of CMSA designation
• Maryland business climate perceptions
• Premature satisfaction toward growth issues

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Vision

• Howard County is a dynamic, diverse, civilized
  and rich community, in perpetual renewal and
  fueled by education, innovation and involvement.

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Quality of Life
Economy
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Themes

• Connected Community
• Knowledge Community
• Revitalized Community

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CONNECTED

• within Howard County and to surrounding
  communities
• to Greater Washington
• to Greater Baltimore
• to State of Maryland
• to nation and world

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CONNECTED
Action Agenda

• Government as partner
• Marketing alliances
• Consolidated Metropolitan Statistical Area (CMSA)
• Transportation linkages
• Fiber optic networks
• International connections

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KNOWLEDGE

• Center for higher education
• K-12 education
• Coordinated and targeted workforce development
  survey
• Expanding available workforce

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KNOWLEDGE
Action Agenda

• Pursue coordinated delivery of workforce
  development programs
• Appoint a taskforce for developing Center for
  Higher Education
• Plan construction of new incubator
• Reevaluate targeted industry sectors

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REVITALIZED

• Route 1 Corridor
• Reinvestment in all communities
• Maturing communities
• Columbia Village Centers
• Town Center

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REVITALIZED
Action Agenda

• Route 1 Revitalization
• Expand financial incentives
• Evaluate need for Community Development
  Corporation
• Develop outreach marketing strategies
• Review other employment corridors for
  revitalization programs
• Maintain vitality of employment centers

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Advocacy Issues

• Government Relations
• Revitalization
• Central Maryland Alliance
• Center for Higher Education

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2001 Strategic Plan Committee
Sandra Trice Gray Vision Howard County Randall
M. Griffin Maryland Economic Development
Commission Guy Guzzone Howard County
Council Patrick L. Huddie, Ph.D. Anderson,
Huddie Associates, LLC Gary D.
Hughes FIRN James M. Irvin Howard County Public
Works Richard M. Krieg Horizon
Foundation Barbara K. Lawson The Columbia
Foundation Robert T. Manfuso Chanceland
Farm Sally Scott Marietta Maryland Economic
Development Commission Lanny J. Morrison The
Columbia Association
Steve H. Adler Historic Savage Mill / Big Tall
Mens Apparel Haskell N. Arnold Constellation
Energy Group Maggie J. Brown The Columbia
Association David A. Carney Reese Carney
Dwight W. Clark Howard County Chamber of
Commerce Shirley D. Collier Paragon Smart
Technologies, LLC Donora L. Dingman Verizon
Communications Mary Ellen Duncan, Ph.D Howard
Community College David E. Forester Howard
Research Development Corporation Michael T.
Galeone The Columbia Bank David J.
Gallitano Columbia National, Inc.
Lynne M. Nemeth Vision Howard County Sang W.
Oh Howard County Executives Office John
ORourke, Ph.D Howard County Public School
System Richard H. Pettingill Dick Pettingill
Commercial Real Estate James N. Robey Howard
County Executive Joseph W. Rutter Howard County
Planning Zoning Earl H. Saunders The Saunders
Group Maurice M. Simpkins The Ryland
Group Richard W. Story Howard County Economic
Development Authority Anne H. Stuart Corvis
Corporation Charles E. Weller BBT Kenneth L.
Williams Howard County Chamber of Commerce
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2005 Strategic Plan
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Commute Patterns
Outside Regions
To Baltimore Metro
1,820
46,350
1.2 of workforce
30.4 of workforce
Live Work 57,646 38 of workforce
30.4 of workforce
80,550
46,370
To Washington Metro
Workforce 152,500 At-Place Employment
138,500 (all numbers rounded) Source Howard
County Economic Development Authority and MD
Dept. of Labor, Licensing and Regulation. Based
on 2000 Census commute patterns data. Revised
August 2005
In-Commute
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Annual Job Growth 1995-2004
Source Maryland Department of Labor, Licensing
and Regulation. Revised August 2005
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Job Growth by Quarter 1995-2004
Source Maryland Department of Labor, Licensing
and Regulation. Revised August 2005
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Job Growth by Jurisdiction
Source Maryland Department of Labor, Licensing
and Regulation. Comparison between annual
averages of 2003 and 2004. Revised August 2005
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Job Growth in Maryland
Source Maryland Department of Labor, Licensing
and Regulation. Revised August 2005
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Job Growth in Maryland
Source Maryland Department of Labor, Licensing
and Regulation. Revised August 2005
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Average Employment Wages
Historical Employment Wages
Defined as a single physical location where one
type of economic activity is conducted. An
employer may have more than one establishment.
Source Maryland Department of Labor, Licensing
and Regulation. Revised August 2005
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Howard County Unemployment 1993-2004
Source Maryland Department of Labor, Licensing
and Regulation. Revised April 2005
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Average Weekly Wage For At Place
Employment
Source Maryland Department of Labor Licensing
and Regulation, Howard County Economic
Development Authority.
Revised August 2005
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Median Household Income
Source 1990 and 2000 data from Census 1999 and
2001-2004 data are estimates from the Maryland
Department of Planning.
Revised May 2005
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Tax Growth in Howard County By Fiscal Year
Source Maryland Department of Assessment and
Taxation, Howard County Budget Office, Howard
County Economic Development Authority. Revised
October 2005
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Work/Finance Officers

• Economic Indicators
• Bond Rating Agencies
• Incentives Committee

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Work/Finance Officers
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Howard County
All America County -National Urban League
Maryland Sports Town -Sports Illustrated
Magazine

Best Quality of Life Howard County -
9 -American City Business Journals
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Howard County
Best Educated (Adults Over 25) Advanced Degree
(28) - 2 in the nation
Best Educated (Adults Over 25) Bachelors
Degree (55) - 4 in the nation
Median Household Income 82,065 - 5 in the
nation -U.S. Census Bureau, American
Community Survey
25 Best Places to Live, Eastern U.S Ellicott
City - 18 Columbia - 25
-Money Magazine
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Howard County
Wealthiest Zip Codes in Greater Baltimore
Area Top Seven in Howard County -Baltimore
Business Journal
100 Best Communities for Young People -Americas
Promise Alliance