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Strong Regions Smart Business Vital Communities

Strong Regions Smart Business Vital Communities. San Francisco Bay Area. Economic growth and prosperity in the 1990’s. Housing costs skyrocket, poverty accelerates. Bank of America makes loans and investments of $5 billion to promote home ownership among low-income residents.

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Strong Regions Smart Business Vital Communities

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  1. Strong Regions Smart Business Vital Communities

  2. San Francisco Bay Area • Economic growth and prosperity in the 1990’s • Housing costs skyrocket, poverty accelerates • Bank of America makes loans and investments of $5 billion to promote home ownership among low-income residents

  3. Chicago, Illinois • System Sensor has urban workforce/suburban plant • Jobs-housing mismatch lowers productivity • Employers sign “Metropolis Principles” — commit to locate plants near affordable housing/mass transit

  4. Austin, Texas • Applied Materials locates manufacturing plant in East Austin • Commitment to hiring local residents • “Wealth Gap” between professionals and production workers • AM launches 10-year Sustainable Neighborhood Initiative

  5. Common Themes Workforce • Business competitiveness linked to health of the region • Individual business efforts have limited impact • Solving regional problems requires collective approach Transportation Housing Education

  6. Strong Region Common Themes • Business competitiveness linked to health of the region • Individual business efforts have limited impact • Solving regional problems requires collective approach

  7. MetroBusinessNet • Action learning network of business-based civic organizations • Models for business-led socio-economic change • Forum for sharing experiences, learning from experts • Documenting lessons • Creating database of promising practices

  8. MetroBusinessNet Partners • Bay Area Council • Chicago Metropolis 2020 • St. Louis Regional Chamber and Growth Association • Washington Board of Trade • Austin Area Research Organization/ Greater Austin Chamber of Commerce

  9. MetroBusinessNet Seeking Economic and Social Equity Improving Business Competitiveness Promoting Regionalism

  10. Region is Operating Landscape for Business Business draws on regional: • Workforce • Transportation system • Housing • Education and training system • Supplier network

  11. Smart Businesses = Strong Region + Vital Communities • Walkable central cities • Open space and parks • Urban streetlife and nightlife • Vibrant neighborhoods • Good public transit • Ample housing choices • Good education systems

  12. Regional Challenges are Business Challenges Business performance impacted by: • Abandoned central cities • Racial segregation • Sprawl • Traffic and gridlock • High housing costs

  13. $475,900 Regional Challenge: Housing Costs $259,250 Median single family home price in San Francisco In San Francisco, • Exorbitant housing costs • Firms unable to attract talent • Competitive edge threatened $128,094 1982 1992 2001 Source: National Association of Realtors

  14. Regional Challenge: Urban Decline In St. Louis, • Dramatic population decrease • Racial segregation increases • Vacant lots and buildings in urban core • Struggle to attract young workers Urban flight in St. Louis Population decline over time Source: U.S. Census 750,026 622,236 451,112 396,685 348,180 1960 1970 1980 1990 2000

  15. Regional Challenges: Transportation In Washington, D.C. area, • Congested highways stress employees • 34% spend less time with families • 26% taking more public transportation • 28% considering moving from region

  16. Problem-Solving Through Collaboration • Not your father’s Chamber of Commerce • Progressive business civic organizations • Collaborative model of decision making

  17. The New Business Civic Organization • Multisector collaboration and partnership • Regional perspective • Research and analysis • Activism

  18. Regional Business Solutions: Invest in “Smart Growth” Bay Area Council • $100 million for “Smart Growth” Fund • Investments in inner-city neighborhoods • Market rate of return on investment • Social return to community in jobs, housing, transit

  19. Regional Business Solutions: Business Location Chicago Metropolis 2020 • Cost to business of jobs-housing mismatch documented • Metropolis Principles developed • Workforce housing policies proposed

  20. Regional Business Solutions: Urban Revitalization St. Louis • Revitalize urban core through Bio & Life Sciences Technopolis • Retrofit old warehouses and manufacturing facilities • Attract firms and talent • Improve neighborhoods

  21. 3 Key Roles for the Business Community • Strategic investment of core operating resources • Advocate for public policies that promote sustainable and inclusive regional growth • Active partner in multi-sector regional coalitions

  22. Key Challenges • Hard for business leaders to move beyond the charity model • Business leaders don’t necessarily see how their self-interest is served by a regional perspective • Big cultural divide between business and community leaders

  23. Shaping Your Region’s Future • Work through business civic organization • Build regional perspective • Form collaborative partnerships • Invest in research and analysis

  24. MetroBusinessNet Resources • MBN network • Case Studies • Best practices database • Research and analysis tools

  25. Visit www.metrobusinessnet.net Call FutureWorks at (781) 574-6607

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