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Shared Prosperity Workgroup Kickoff Meeting. February 5, 2014 1:30 – 3:00PM McKnight Foundation. Background. Our Vision: Growing a prosperous, equitable, and sustainable region. Our Goals: To enhance the region’s economic competitiveness we will: - PowerPoint PPT Presentation
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Shared Prosperity Work Group 1
Shared Prosperity Workgroup Kickoff Meeting
February 5, 20141:30 – 3:00PM
McKnight Foundation
2
Our Vision: Growing a prosperous, equitable, and sustainable region
Our Goals: To enhance the region’s economic competitiveness we will: 1) Improve the economic prospects of low-income people and low-wealth
communities2) Promote high quality development near existing assets (e.g. employment
centers, transitways, and commercial and industrial corridors)3) Advance a 21st century transportation system
Background
Approved 11/20/2013
PRO has three workgroups• Shared Prosperity• Regional Equity & Community Engagement• Transit Oriented Development
Scope of work has 1-year time horizon.
Shared Prosperity Work Group 3
Workgroup Objectives
• Accomplish 2-3 things that advance more socially equitable & environmentally sustainable economic development
• Enhance on-going work elsewhere in the region
• Deliver outcomes that are both tactical & immediate AND set the stage for longer-term change and action.
Shared Prosperity Work Group 4
Workgroup Roles
• Project development– Shape, advise, review,
represent• Bring organizational
expertise• Forge connections
– Build partnerships to other tables
• Others?
Shared Prosperity Work Group 5
WorkGroup Meetings
Meeting Objectives:1) Project work &
updates2) Deep dives into
specific issues/initiatives
3) Cross-collaboration w/other PRO workgroups
Meeting Date Time Location
Wed, Feb. 5 1:30-3:00 McKnight Foundation
Thurs, Mar. 6 10:00-11:30 GREATER MSP
Wed, May 7 10:00-11:30 McKnight Foundation
Wed, Aug. 6 10:00-11:30 GREATER MSP
Wed, Oct. 22 10:00-11:30 McKnight Foundation
Shared Prosperity Work Group 6
Workgroup Projects• Accomplished &
embedded in one-year• Aligns with existing
organizational objectives
• Resources and partners can be secured
• Fill a niche in the ecosystem
Shared Prosperity Work Group 7
Context: Related ActivitiesWorkforce MBE
AdvancementSub-Regional Strategies
Small Biz Development
Other (multi-issue)
Twin Cities Construction Consortium
MEDA programs North Minneapolis Job Creation Team
NDC – Job Creation
Everybody In
MSP WIN (sectoral strategies, etc)
SBA Emerging Leaders
East Metro Strong
MEDA – Job Creation
Central Corridor Anchor Partnership
Itasca Workforce Alignment
Certification Portal - Government procurement
Southwest LRT eTOD (employment)
MCCD – Open to Business
Itasca socio-economic disparities
Corridors 2 Careers – phase 2
Business Bridge- Itasca
Minneapolis Equity in Employment
DEED, Mpls & other funding to biz asst orgs
Accelerate MSP
Shared Prosperity Work Group 8
Two Projects• Regional Success Measures
– create a single, shared set of indicators, supported by a cross-sector regional partnership, to create a common view of the region’s performance.
– Includes social, economic, and environmental• Urban Competitiveness Strategies
– guide business attraction, expansion, and retention and job creation to support (re) development in the core cities & connected transit corridors
– Achieve Triple Bottom Line results (economic development that is socially equitable and environmentally sustainable)
Shared Prosperity Work Group 9
Reflections?
WORKING DRAFTLast Modified 2/4/2014 11:43 AM Central Standard Time
Printed
Regional Success Indicators
February 5, 2014Discussion document
CONFIDENTIAL AND PROPRIETARYAny use of this material without specific permission of McKinsey & Company is strictly prohibited
Creating a shared perspective on our progress as a region
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What Matters Gets Measured
There’s consensus in our region that indicators are important – they help us, as a region, answer key questions:
• How do you know your region is making progress, if you do not measure change?
• What if the region is changing, but the public doesn’t recognize what is happening?
• What can stimulate regional leaders to take action?
Regional metrics provide answers to these fundamental questions and can create a common fact base to develop regional solutions.
SOURCE: Questions adapted from the Lincoln Land Institute, Alliance for Regional Stewardship
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The Project: Regional Success Indicators
This year, our region will create a set of shared, objective metrics to track the Greater MSP region’s overall success on critical economic, environmental and social outcomes.
• More effective regional priority-setting• Greater coordination across regional initiatives• Better visibility & use of existing data assets • Increased economic competitiveness
The result for our region will be
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“ Wait . . . I thought we did that already?”
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“ Wait . . . I thought we did that already?”
Business Vitality Index
Regional indicators
CCE Indicators
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Our Region’s Unique Challenge
Our region does not lack metrics. We have done a great work and invested huge resources to create multiple indicator sets.
But in practice, this diffusion of effort and focus robs us of the benefit of measurement. Where do we all look to answer the most basic question: How are we doing?
Without consensus on a single, shared set of metrics we are struggling to move consistently and quickly from measurement to collective action.
MEASURE
REVIEW
ACT
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Finish the Job
We have the opportunity to draw upon all of our work to date and establish a shared set of key metrics.
This capstone effort on regional measurement will help leaders converge around a set of metrics that are:
• Objective• Comprehensive (economic, social, environmental)• Compact (20-25 key measures in 5-6 categories)• Benchmarked against peer regions • Clearly and consistently communicated • Endorsed and used by organizations region-wide
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The Push to Act
Consensus accelerator The benefits of a shared dashboard for leaders in the public, private and nonprofit sectors would be immediate and significant. The new consensus around key metrics will help us manage growth, focus investment, set strategic priorities and act more quickly in areas requiring cross-sector collaboration.
Regional Economic Development Strategy Establishing regional indicators is one of the six action items identified in the region’s 3-5 year competitiveness strategy. The new indicators will provide a data-driven, comprehensive answer to the fundamental question “how are we doing” and enable a new range of collaborative endeavors central to execution of the strategy.
Global best practiceHigh-performing regions around the globe use indicators to develop and maintain a common understanding of what’s critical to their success. In our region, the indicators will be used to benchmark against national and international peers and, over time, produce valuable trend data on our region’s performance.
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Successful regions around the world are adopting indicators to drive continued growth and prosperity
SOURCE: City and agency websites
Example to be explored to select MSP’s indicators
Seoul San Diego CharlotteAtlanta
Singapore
LondonBostonPhiladelphia
Seattle
PRELIMINARY
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Like most best practice regional indicators, San Diego’s are organized into categories
▪ San Diego’s indicators are prominently displayed on the homepage of the regional economic development organization
▪ Oriented to tell story of region’s talent, e.g., talent has its own category, above economy
▪ Engaging, at-a-glance display both simplifies message and invites viewer to explore
PRELIMINARY
SOURCE: SanDiegoBusiness.org/Research; Io.inc, McKinsey Cities Initiative
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London’s set of indicators is focused on sustainable development, which it defines broadly
SOURCE: London Sustainable Development Commission
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A Meaningful Step Toward Greater Regional Equity
Private, public and nonprofit leaders in our region agree greater equity must be a top priority.
INFRASTRUCTURE GROWTHTALENTEQUITY
Our regional dashboard can place equity measures on the same plane as other primary metrics, such as economic growth.
The result will be more accountability for all of us on the goals we believe are critical to our long-term success.
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Process: Boardrooms and Spreadsheets
SOURCE: Source
TECHNICAL*
LEADERSHIP LEADERSHIP
CONSENSUS BUILDING • Regional Priorities• Process, Goals, Outcomes
METRIC IDENTIFICATION & SELECTION
COMMUNICATIONADOPTION & UTILIZATION
JANUARY JULY DECEMBER
*demographic, marketing, forecasting and other specific disciplines of expertise
We begin by engaging leaders to build consensus around the categories for the regional dashboard.
Technical expertise is phased in as the conversation turns to choosing specific metrics.
PRELIMINARY
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Process: Recognizing and Incorporating Existing Efforts
• This effort will leverage the consensus established by all previous and current efforts about what areas deserve measurement and tracking.
• There is no presumption that the new shared dashboard will replace any of the current data sets.
• Dialogue with many public, private and nonprofit organizations is a core element of this project.
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Project 2014 Timeline
Deliverables
▪ Create video of Bd lead▪ Collect ext. models/best practices▪ Identify internal models, resources
Business case for project Draft categories (5-6) Initial list of benchmark regions
Activities
Build team, hire facilitator Conduct sessions to introduce
project, collect input
January April May September October December
Phase 1CONVERGE
Phase 2DESIGN
Phase 3COMMUNICATE
Leadership
Technical
Milestones
▪ Refine input process, identify stakeholders
▪ Set working team w/roles
Metrics in each category Draft mock-up of dashboard Draft communications plan
PRO xx SP: Feb 5; March 6 PAC/Itasca/MetCncl/GMSPBd
Final dashboard Regional benchmark set Communications &
Maintenance plan
Hold tech. sessions on metrics Plan marketing/comms Share, collect input on draft
categories w/ metrics
PRO xx SP: May 7, August 6 PAC/Itasca/MetCncl/GMSPBd
PRO xx SP: Oct 22 PAC/Itasca/MetCncl/GMSPBd
Final review, revision of dashboard w/key groups
Design final dashboard brand
▪ Identify org. owner for data curating▪ Create roll out strategy w/timeline,
partners, resource plan
▪ Execute roll out strategy
▪ Refine metrics▪ Define process and resources to
collect, publish metrics
▪ Create first version of dashboard
IN PROCESS
Questions
• What are your ideas?
– Key stakeholder groups– Best practices from
other regions?
Shared Prosperity Work Group 25
Shared Prosperity Work Group 26
Urban Competitiveness Strategy
Activities (illustrative):• Identify target industries and
subsectors (examine spectrum of occupational needs)
• Develop differentiated strategies to attract investment and job creation in:– Areas of market challenge– TOD– Opportunity sites
Shared Prosperity Work Group 27
Discussion• What are your reactions to the two projects?• Are there other ideas for how this group can
advance change in 2014?
Shared Prosperity Work Group 28
Next Steps• Regional Success Measures:
– Share this update at February PRO meeting– Develop and share outreach strategy– Use March 6th workgroup meeting to gather
categories to group indicators • Urban Competitiveness Strategy:
– Project team will meet in February, come to 3/6 meeting with goals for discussion