LAUTMAN GROUP + Blane, Canada Ltd.Economic Engineering
Economic Engineering… a process, not a plan!
Coalition Building + Strategy + Execution + Measurement + Management
EE is a locally driven, expert-supported, structured process designed to engage the full community in taking responsibility for their community’s economic future.
If it can’t be measured, it can’t be managed.
Economic Engineering is a very powerful process for guiding and anchoring a community’s economic development strategy. EE puts community leaders in control. This is an extremely valuable contribution to the economic development profession.
I like the fact that EE is numbers driven and includes accountability.
We were early in. EE helped community leaders identify our achilles heel, craft a solutions, and build a highly specific plan based on a full market assessment that addressed the barriers delivering results now for 10-years.
The EE Process
Experience the Economic Engineering difference in a small team setting. Estimate needed jobs. Evaluate EE’s potential for creating an economic path for YOUR community’s economic future. Go/No go.
Refine the calculations for needed jobs. Learn what drives community growth. Build consensus on central pillars of the strategy. Invite community input on strategy, tactics, and goals. Congeal support for each pillar. Identify barriers to success. Go/No go.
Stress-test strategy, tactics, goals, refine. Define steps to eliminate barriers. Sequence barriers by priority. Estimate cost and time required to resolve . Refine everything as a group. Assign accountability. Empower sub groups. Go/No go.
Fund, launch, support, refine each pillar. Launch barrier sub groups. Recruit, train future leaders. Monitor pillar results, recalculate, adjust, empower, repeat.
EE: is inclusive
All of the development inputs for a thriving community.
Benefits of the EE Process
- Unanimous agreement on direction and goals
- See the consequences of inaction and missed opportunities
- Ongoing capacity to build local leadership for the future
- Engages vocal opposition
- Eliminates “us vs. them” infighting
- Aligns personal and community interests
Economic Engineering Back Story
Economic Engineering is a totally fresh, new approach to economic development. Instead of a wishful thinking planning process or focusing on the low-hanging fruit, Economic Engineering (EE) boils down to a calculated number of prime jobs required to create a desired future.
EE allows community leaders to understand how many new primary sector jobs will be required to accomplish the community’s economic development goal using our custom EE Calculator (patent pending). They will select the combination of the nine economic drivers, e.g., business attraction, business retention, tourism, entrepreneurship, extraction, agriculture, retirement, etc. appropriate for their community. Then, individual programs are designed (or adapted from prior research) by program constituents, detailing strategy, tactics, and resource requirements to meet the job goals for each targeted economic driver. Barriers are identified, budgeted, and time-lined.
Community leaders are involved throughout the process. Plus, with a diverse group of community participants, everyone learns by doing. Everyone is emersed in how the economy works, what is required and why they need to commit time and resources to achieve these important community goals and work toward a shared community future – deepening the local leadership talent pool.
Research and Development
Economic Engineering is rooted in the book, When the Boomers Bail: A Community Economic Survival Guide by Mark Lautman. Economic Engineering answers reader’s question: How? Now after 10-years of R&D and dozens of proof-of-concept trials, EE has been refined for use in your community.
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What is your community's jobs number? Find out with Economic Engineering!
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Blane, Canada’s 13 Tips delivers the storyline, the insight, the ah ha and the source link to go deep if desired. A six minute read draws widely from the environment influencing successful economic development and leadership in a changing world to keep you ahead of the game.