What does it mean to be a global city? TIP has been pondering this question since we were engaged to lead a team of consultants charged with preparing a new strategy for the City of Fort Worth. While there are volumes of research around this question—and no lack of opinions—we place emphasis on three areas: trade, talent, and tradition.
To help capitalize on its unique advantages, Kern County engaged TIP to lead the preparation of an economic diversification plan for East Kern County. Over the course of a 12-month planning process, TIP worked with Kern County and key partner organizations including the Kern Economic Development Corporation (EDC) and the East Kern Economic Alliance (EKEA) to create a bold and comprehensive set of strategies to accelerate economic development in East Kern.
Last fall, TIP was engaged by the Delaware Business Roundtable (DBRT), a group of more than 50 Delaware CEOs, to craft a strategic framework for pursuing a new long-term approach to economic development in the state. The final product, the Delaware Growth Agenda, was released by the DBRT in July.
On April 1, 2016, TIP senior consultant Alex Cooke attended a luncheon hosted by the Waxahachie Chamber of Commerce Economic Development Council to celebrate the community’s successful implementation of its economic development strategic plan.
In 2015, EMCOG tasked TIP with exploring potential areas of focus for a CoE with the goal of identifying a concept that could serve as a catalyst for job growth and investment while supporting the success of existing companies.
One recent project that has yielded significant positive outcomes is the strategic plan TIP completed for the Lubbock Economic Development Alliance (LEDA). Since the plan was finalized in March 2015, two of the five priority projects TIP identified have already been partially implemented.
In June 2014, the North Louisiana Economic Partnership (NLEP) adopted its five-year strategic plan, developed with the assistance of TIP Strategies. TIP’s principal and CEO, Tom Stellman, recently attended NLEP’s Annual Meeting to provide an update on plan implementation and outcomes to the organization’s Board of Directors.
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.