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The Community Economic Development Handbook. Chapter 1: Community Economic Development—An Overview. “ Community economic development is connecting the dots between people, land and money.”

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The community economic development handbook l.jpg

The Community Economic Development Handbook

Chapter 1: Community Economic Development—An Overview


What is community economic development l.jpg

“ Community economic development is connecting the dots between people, land and money.”

“ It’s building on your local economy. It’s both assisting businesses to grow and residents to improve their income.”

What is Community Economic Development?

Ted Wysocki

C.E.O. of Local Economic & Employment Development Council

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Four pivot points of any neighborhood economy l.jpg
Four Pivot Points of any Neighborhood Economy between people, land and money.”

  • Condition of commercial district

  • Entrepreneurs starting and maintaining small businesses

  • Local residents finding and keeping good jobs

  • Neighborhood businesses creating good jobs

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Two goals of community economic development l.jpg
Two Goals of Community Economic Development between people, land and money.”

  • Goal One: Improve the economic situation of local residents and local businesses

    • Residents: Disposable income and assets

    • Local businesses: Profitability and growth

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Two goals of community economic development5 l.jpg
Two Goals of Community Economic Development between people, land and money.”

  • Goal Two: Enhance the community’s quality of life

    • Appearance

    • Safety

    • Gathering places

    • Sense of positive momentum

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Pivot point one the commercial district l.jpg
Pivot Point One: between people, land and money.”The Commercial District

  • A neighborhood’s commercial district…

    • The “face of the community”

    • Perceptions = reality

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Pivot point two developing microbusinesses l.jpg
Pivot Point Two: between people, land and money.”Developing Microbusinesses

  • Microbusinesses…

    • Fewer than 5 employees

    • Most low income neighborhoods lack opportunities and assistance

    • Microbusinesses can:

      • Fill vacant storefronts

      • Create local jobs

      • Bring positive momentum

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Pivot point three developing the community workforce l.jpg
Pivot Point Three: Developing the between people, land and money.”Community Workforce

  • Single largest economic problem…

    • Unemployed or underemployed residents

    • Needs:

      • Training

      • Job Placement

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Pivot point four growing good neighborhood jobs l.jpg
Pivot Point Four: Growing Good Neighborhood Jobs between people, land and money.”

  • Growing businesses need workers!

  • Good neighborhood jobs…

    • Obtainable with various levels of experience

    • Pay above minimum wage

    • Benefits, career advancement opportunities

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


A four step process to community economic development l.jpg
A Four Step Process to Community Economic Development between people, land and money.”

  • Assess current conditions

  • Create a vision and strategic plan

  • Implement your plan

  • Evaluate and improve your work

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Step 1 l.jpg
Step 1 between people, land and money.”

  • Assess current conditions

    • Answer:

      • “Where are we now?”

      • Assess organization’s capacity

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Step 2 l.jpg
Step 2 between people, land and money.”

  • Create a vision and strategic plan

    • Answer:

      • “What do we want our community to look like in five or ten years?”

      • Lay out one- and three-year goals

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Step 3 l.jpg
Step 3 between people, land and money.”

  • Implement your plan

    • “Plan your work…work your plan.”

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Step 4 l.jpg
Step 4 between people, land and money.”

  • Evaluate and improve your work

    • Monitor your outcomes

    • You’re always learning…conditions are constantly changing

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org


Tips for making it all work l.jpg
Tips for Making It All Work… between people, land and money.”

  • Take one pivot point at a time

  • Give it time

  • Celebrate successes!

Temali, Mihailo. "The Community Economic Development Handbook." St. Paul, MN: Fieldstone Alliance, Inc., 2002. www.FieldstoneAlliance.org