by TIP Strategies staff
Performance measurement is an increasingly important part of economic development strategic planning. In addition to traditional measures of job growth, income, and tax base, TIP has been working with our clients to establish broader metrics associated with challenges including sustainability, social equity, and other community development issues.
Most recently, our work in Fort Collins has allowed us to link traditional and non-traditional measures with the goals and initiatives of city budgeting and comprehensive planning, as well as metrics from other city departments and initiatives. The dashboard received a Certificate of Excellence from the International City/County Management Association’s Center for Performance Measurement in 2015, in recognition of the city’s superior performance management efforts.
TIP also prepared the most current economic development strategic plans for the City of Las Vegas and the Las Vegas Global Economic Alliance (LVGEA). Each plan included a comprehensive set of performance indicators for measuring economic growth in the city and the region, respectively. Recognizing the importance of measuring performance, the LVGEA publishes an annual progress report on the economic indicators included in the regional comprehensive economic development strategy, as well as an internal performance metrics report connected to its organizational strategic plan and budget. The newly appointed head of the LVGEA, Jonas Peterson, was recently featured by Atlas Advertising in recognition of the organization’s dramatic growth in the last two years. Peterson credits internal measurement as one of the key factors in the organization’s successful implementation of its economic development strategy.