I’ve attached a whitepaper on the economic development strategy which encompasses what is usually known as economic gardening. The paper is somewhat broader, addressing the overall system of support and action that should be led by the economic development/chamber entity.
The point made by the author is that smaller, younger businesses have always been a very large source of net new jobs on a national level, and that is certainly the case in most regional economies, too. You’ll recall the David Birch work in the 80’s on the importance of gazelle firms. The concept of economic gardening implements a strategy that recognizes that ED delivery systems, and chamber support for the targeted, growth oriented smaller businesses in the basic and service sectors are different than the location and major expansion process focused generally on capital investment, and the systems of communications and networking we’ve become accustomed should by adjusted, too.
The relationship between ED/chamber and the target firms must also be different today than in the past, as is pointed out early in the whitepaper. This is a shift that your GCVAC team has been and is continuously working on.
This approach is entirely consistent with GCVAC’s strategic goal of Implementing Technology and Innovation Based Economic Development. You will see our version of economic gardening implementation starting about January 1. It will be the topic of a board meeting this fall.
Finally, the publisher of the whitepaper –EvisThrive – is a firm that delivers a service that organizations like GCVAC can use to create the systems and connections to implement an entreprenuerial growth strategy. Very good thinking has gone into it and it’s worth study.
Steven J. Dust CEcD
Greater Cedar Valley Alliance & Chamber