Economic Development Strategy
Vision & Strategy
Vision is the vortex of any planning initiative. It is the tension between what is and what could be. Our visioning process forges alignment… within a group of how the future will be described.
Vision, the ability to see a future that does not yet exist, shapes economic development.
Most economic development visioning centers on traditional economic development. Traditional economic development is transactional in nature. The focus is on increasing the size of the pie and preparing the community, infrastructure, real estate, and workforce to support the desired growth.
In contrast, an aspirational economic development vision focuses on a change in status. For example, a tier 3 or tier 4 community can aspire to move up to a tier 2 or tier 3 community. An aspirational vision requires a community to come together around the vision and invest as if it had already achieved the desired status.
Visioning is the process of forging alignment within a group of how the future will be described. The vision hinges on two basic questions:
What community do we want?
What community will businesses and individuals want to live in?
Once a vision is defined and internalized by leadership, strategy provides the roadmap required to navigate through known and unknown obstacles from the present to the desired future destination. The vision provides the essential outcomes critical to successful economic development. Strategic focus on these outcomes drives the actions of public and private sector leaders toward the vision created and owned by these same leaders. Success in economic development is first and foremost an agreement on the direction of the community by its leaders. The most successful communities are those that have leadership alignment. All efforts, including citizen engagement, flow from this foundation.
Our team of experts has been strategically chosen to assist in the development vision and strategy for economic development organizations for three reasons:
- Practitioners First, Consultants Second
- Industry Leadership
- Approaches Aligned with Today’s Business Models
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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.