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Economic Development Strategies for Growth & Sustainability in Wisconsin

This course explores the foundations of economic development in Wisconsin, guiding participants through building and managing their organization for long-term success. Learn how to leverage assets in a challenging economy, engage key players, and set clear goals. Gain insights on board preparation, entity formation, and professional development. Discover the power of collaboration, celebrate failure, and embrace inclusiveness for community growth. Recommendations for year one include dreaming big, acting smart, and creating hope for the future. Contact Rick Terrien at Iowa County Area Economic Development for more information.

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Economic Development Strategies for Growth & Sustainability in Wisconsin

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  1. Wisconsin Basic Economic Development Course The First Year: Building & Managing Your Economic Development Organization

  2. Jobs. Income. Wealth. Hurry! • Dec. 1, 2008. Welcome! • The joys and challenges of a (mostly) blank slate • The past informs the future - choose carefully

  3. Management by walking around • The art of the possible. So long subtlety. • Assets and strengths in a collapsing economy • Hit the ground. Pick yourself up. Start walking.

  4. As an entrepreneur & inventor…. • Why an entrepreneur’s background helped • How innovation speaks to organizing EDC work • Ready. Fire. Aim.

  5. Benefits of Board preparation • Entity formation / bylaws largely in place • Key players engaged • Mentors, mentors, mentors (repeat)

  6. Expectations VS reality • What I expected to be doing • What I did • What I wish I did more of

  7. Building the house while moving in • Don’t wait for the perfect moment • Create identifiable projects • Revel in the silent stuff

  8. Build the organization to hand off • Transparency creates long term success • All work in service to the goal • Sustainable = repeatable

  9. Growth VS Development • Projects are easy. Solutions are tough. • Development = qualitative, sustainable improvement • Would I want to live with it?

  10. How our Board most helped US • A demand for professionalism. • Leaning into what’s possible. • Setting goals. Clearing pathways.

  11. How our Board most helped ME • First year Treasurer work ( ! ) • Supporting / insisting on professional development . • Celebrating failure.

  12. Getting Boards & Directors to dance • Meet socially on hiring. • Business session ASAP with Executive Committee. • Create a big space for playing ‘What - if?’.

  13. Business (community) retention • Listen. Listen harder. Repeat. • Help organize new value from existing assets. • Connect dots where none exist.

  14. New EDCs & their communities • Identify power actors and valuable ways to interact • The power of ‘I LOVE this stuff!’ • Inclusiveness rules.

  15. Open records / Open meetings • Get smart. Get transparent. • World class digital and hard copy capture systems • Behave like a duck.

  16. Caution! Wonkiness ahead…. • CPA/chart of accounts. Tax responsibilities. • Insurance: D&O, Business, Worker’s Comp. • Org docs: bylaws, policies, discrimination, harassment, conflict of interest, work plan…. • Work docs: Typical HR, all in print: pay periods, vacation, sick leave, mileage…. • EDC work: land of the night meetings.

  17. Regional resilience • Unlimited potential for collaboration. • Unexpected possibilities for celebrating Wisconsin. • Leverage, access, muscle. Use it or lose it.

  18. < 1 year. Welcome to Iowa County! • The continuous dance of docs and dreams. • Wisconsin Food Innovation Kitchen. • Driftless Foods. • Multi-region / Multi-state partners.

  19. Recommendations for year 1 • Dream big. • Act smart. • Create hope. • Repeat.

  20. Contact information • Rick Terrien • Iowa County Area Economic Development • 608 577 7546 • rickt@iowacountyedc.org. • www.iowacountyedc.org

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