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“Outside Eyes”

“Outside Eyes”. New North’s Research Approach. Pick a sample of publications for review De-construct metrics for insight Demonstrate comparables New North-regional metrics Lessons Learned Characteristics that matter.

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“Outside Eyes”

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  1. “Outside Eyes”

  2. New North’s Research Approach • Pick a sample of publications for review • De-construct metrics for insight • Demonstrate comparables • New North-regional metrics • Lessons Learned • Characteristics that matter

  3. Chief Executive magazine“CEOs Select Best, Worst States for Job Growth and Business” • CEOs selected: • 3 best states for doing business overall • 3 worse states for doing business overall • CEOs asked to rate each of these 6 states along 3 key criteria: • Taxation and regulation • Workforce quality • Living environment • Wisconsin ranked 43rd -2009 Retrieved from January/February 2009 issue of Chief Executive magazine

  4. Chief Executive magazine“CEOs Select Best, Worst States for Job Growth and Business” • Wisconsin ranks by various categories • Cost of Business 36 • Technology & Innovation 22 • Transportation 13 • Business Friendliness 28 • Workforce 47 • Economy 36 • Education 9 • Quality of Life 25 • Access to Capital 27 Real estate costs Tax incentives Tax rates Tax rates Wage rates Degree of business regulations Work ethic of employees Perceived attitude of gov’t to business Existing pool of skilled employees who have specialized experience/education Absence of unions % of population with higher education

  5. Forbes “the best states for business” Business Costs weighted most heavily (smaller is better) = getting worse Retrieved 1/27/10 from http://www.forbes.com

  6. Milken InstituteCost of Doing Business 2007 Index (larger is better) = getting better From http://www.milkeninstitute.org/

  7. Apples to Apples, and examplethe impact of big Metros on state data • Example: comparing Wisconsin to other Great Lakes states without their largest MSA VS.

  8. Retrieved in 2007 from the Bureau of Labor Statistics and the Bureau of Economic Analysis

  9. Retrieved in 2007 from the Bureau of Labor Statistics and the Bureau of Economic Analysis

  10. Regional metrics

  11. New North Compared to Wisconsin and NationPer Capita Income

  12. New North Compared to Wisconsin and NationNew Firm Creation (Economic Dynamism)

  13. New North Compared to Wisconsin and NationEmployment Growth

  14. New North Compared to Wisconsin and NationUnemployment Rate

  15. New North Compared to Wisconsin and NationManufacturing Share of Employment

  16. New North Compared to Wisconsin and NationViolent Crime Rate

  17. New North Compared to Wisconsin and NationPoverty Rate

  18. New North Compared to Wisconsin and NationHigh School Graduation

  19. New North Compared to Wisconsin and NationCollege Graduates (in percents)

  20. New North Compared to Wisconsin and NationACT Scores of High School Students

  21. Economic Strength Rankings-2010POLICOM Corporation • Cities of at least 50,000 people • At least one urbanized area, with adjacent counties of higher degrees of social and economic integration • Currently 366 Metropolitan Statistical Areas within United States (METROS) • METROS within New North region: • Green Bay, WI • Appleton, WI • Sheboygan, WI • Oshkosh-Neenah, WI • Fond du Lac, WI

  22. New North Compared to Other Regional Economic Development Areas in Wisconsin POLICOM Corporation, “Metropolitan Area Rankings” 2010, http://www.policom.com/metrorank.htm

  23. Micropolitan Statistical Areas MICROSDefined by Office of Management and Budget • OMB established MICROS definition in 2002 • Cities of at least 10,000 but fewer than 50,000 • At least one urbanized area with at least one county • “Quasi-rural areas” • Currently 567 Micropolitan Statistical Areas within United States (MICROS) • MICROS within New North region: • Manitowoc, WI • Marinette, WI • Iron Mountain, WI

  24. New North Compared to Other Regional Economic Development Areas in Wisconsin POLICOM Corporation, “Micropolitan Area Rankings” 2010, http://www.policom.com/microrank.htm

  25. Lessons Learned • Beware of the unqualified ranking • Respect how much control we have (or don’t have), or how much effort is required of positive change • Compete proportionately • Index • Size • Effort to resources

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