Summit reaches Cd’A – Businessmen meet to discuss new ideas for regional economic growth –

In a rare display of cross-border cooperation, economic development experts from Spokane came to the Coeur d’Alene Resort Thursday for the Inland Northwest Competitive Summit.

By RICK THOMAS
Staff writer

http://www.cdapress.com/articles/2004/05/28/business/bus01.txt

Joined by the Council on Competitiveness, the Spokane Area Economic Development Council, Intec and the U.S. Economic Development Administration, about 60 showed up to discuss innovative ways to attract and grow business in the region.

"Regional collaboration creates a competitive advantage," said Bob Marcusse, chief executive officer of the Kansas City Area Development Council.

Marcusse explained how the Missouri city of 2 million worked with the bordering city in Kansas to create a one-source marketing campaign beneficial for the region.

"If you want to win this battle, put aside regional concerns, get together and do it the way the customer would like to see it done," he said.

Marcusse was one of several economic development experts from around the country who spoke to the group.

"This is economic development 101," he said. "The key to successful business recruiting is to avoid being eliminated by site selectors."

A regional marketing effort resulted in the sale of 1,000 acres in Kansas City, Kan., where Kansas Speedway was eventually built, changing an economically depressed area from one generating only $15,000 in taxes into one paying $5 million.

Scott Morris, president of Avista Utilities, and Post Falls Mayor Clay Larkin made opening statements.

Morris encouraged the group to "leverage the things we do well," as a tool to entice new business to the area.

Larkin cited success in recruiting Sysco and Buck Knives.

"Why did they choose North Idaho? Why Post Falls?" said Larkin. "We try to make them welcome."

Victor Hwang, president and chief operating officer for Larta, a think tank for technology businesses, warned that globalization is driven by innovation.

"We are losing our edge," he said. "People are copying what we do."

Even tourism, a staple of the North Idaho economy, is under siege as technology allows broader and faster marketing, said Huang.

The keys for smaller cities and rural communities are to focus on their distinct advantages, prevent migration and diversify the economic base with technology.

"Today the real game is not about attracting outside business; it’s about growing existing business," said Randall Kempner, executive director of the Council on Competitiveness Center for Regional Innovation.

Larkin dismissed that idea as lopsided.

"We should do both," he said.

On the idea of regional collaborations between Kootenai and Spokane counties, Larkin said, "The jury is still out. Both sides have always been territorial."

Spokane Mayor Jim West said there is room for cooperation in spite of occasional bad feelings when a business migrates from one state to the other.

"The need to get over it and move on," he said.

West introduced keynote speaker David Sampson, President George Bush’s assistant secretary for economic development at the U.S. Department of Commerce.

The former economic development specialist from Texas delivered a speech that was as much a promo for his boss as a lesson in economics, citing improved unemployment rates and a $3 million grant to the Inland Northwest for wet labs in biomedical labs in the region as contributions of the administration.

"We’re looking for you to help set the standards for the pace," said Sampson. "Think regionally, act regionally."

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Summit offers economic strategies

Tom Sowa
Staff writer

http://www.spokesmanreview.com/business-news-story.asp?date=052804&ID=s1523760&cat=section.business

The Inland Northwest’s business and civic leaders should focus on three key strategies to boost the region’s economy and produce more high-wage jobs, an economic development summit concluded Thursday.

The daylong event at the Coeur d’Alene Resort included a summary of area strengths prepared by the Washington, D.C.-based Council on Competitiveness, a nonprofit agency that fosters regional economic growth.

The summit was part of an effort termed the Inland Northwest Regional Compe
titiveness Initiative, which encourages collaboration on regional economic growth.

The U.S. Economic Development Administration chose the Inland Northwest as one of six U.S. regions in which to develop a strategy focused on building an innovation economy.

Groups that sponsored and participated in the summit include the City of Spokane, INTEC, and the Spokane Area Economic Development Council.

Thursday’s summit produced three suggestions to boost regional economic growth. They are:

• Deepening regional collaboration around image and marketing. Summit organizers used the example of Kansas City’s adoption of the “One KC” image and a related logo that helped build recognition for that city and region.

• Leveraging and strengthening research assets. Local officials have identified medical research as a key source of future high-wage jobs. Participants agreed the region needs to work harder at building links between research centers and companies.

• Fostering an entrepreneurial environment. Young companies need a strong network that puts CEOs and product developers in touch with specialists and with other entrepreneurs engaged in similar efforts, the group agreed. “It’s clear we need to encourage more connectivity between area universities and entrepreneurs, and among entrepreneurs themselves,” Jon Eliassen, CEO and president of the Spokane Area EDC, said after the meeting.

Those three issues were identified by the Council on Competitiveness and a local partnership after a four-month survey that included interviews of area business, educational and community leaders.