SlideShare una empresa de Scribd logo
1 de 16
Descargar para leer sin conexión
PARTNERING FOR PROSPERITY
An Economic Growth Action Agenda for Cook County



EXECUTIVE SUMMARY




                                                   April 2013
PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                1
2   PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
To the Residents of Cook County:
                                         Cook County is at the heart of a great metropolitan region, where we
                                         make up more than half of its population, jobs, and businesses. Although
                                         our assets are plentiful, our economy has been slipping. This is impacting
                                         millions of decisions made each day by families, businesses, and inves-
                                         tors in this region. Governments, including Cook County government, don’t
                                          control this activity, but we do have a role to play. I’m convinced that we
                                         can create an environment where the economy can thrive.
                                         When we provide first-class public services and infrastructure, we help
                                         the economy grow. When we create accountable, transparent and
                                         responsive government, we help the economy grow. These are roles that
                                         County government can—and should—play. We have an obligation to
                                         ensure that our programs, policies and investments support a thriving
                                         private sector.
                                         We also have a responsibility to find ways we can partner with other
                                         governments and civic institutions to align our efforts. We are one region.
                                         Together, we can compete on a global stage. Separately, we are at risk
                                         of competing with each other in a short-sighted, zero-sum game.
                                         To help County government address our role in the region’s economy, I
                                         appointed a Council of Economic Advisors, chaired by Bill Osborn and
                                         John Rogers. I gave the Council a difficult but critical task: to find practi-
                                         cal, effective ways that County government can support economic growth.
                                         “Partnering for Prosperity” is the Council’s response to that challenge.
                                         Building on a strong foundation of research and analysis, it offers nine
                                         strategies for improving the business environment, encouraging produc-
                                         tivity, and supporting the people, places, and actions that can help the
                                         economy grow.
                                         This document is a starting point for things to come. With the continued
                                         advice and assistance of the Council of Economic Advisors, initiatives will
                                         be developed to implement these strategies.
                                         We cannot do it alone. But other regional and local partners already
                                         have thoughtful plans and our strategies are designed to align with them.
                                         We are working closely to support the Chicago Metropolitan Agency
                                         for Planning “GO TO 2040” plan, the World Business Chicago “Plan for
                                         Economic Growth and Jobs,” and the Chicagoland Chamber of Commerce’s
                                          new Tri-State Alliance for Regional Development. I look forward to the
                                         future opportunities this document will foster, creating prosperity for the
                                         residents of Cook County and the entire region.


                                         Sincerely,




                                         Toni Preckwinkle,
                                         President




PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                                          3
COOK COUNTY COUNCIL OF ECONOMIC ADVISORS


                                                  Co-Chairs
Bill Osborn                                             John Rogers
Chairman of the Board, Northwestern University          Chairman, CEO & CIO, Ariel Investments
Chairman, Northern Trust Corporation (Retired)




Paula Allen-Meares                                      Sheila O'Grady
Chancellor, UIC                                         Consultant, Spencer Stuart
                                                        Former President, Illinois Restaurant Association
Robert Beavers
Chairman & CEO, Beavers Holdings                        Richard Price
                                                        Chairman & CEO, Mesirow Financial
Frank Clark
Chairman & CEO, ComEd (Retired)                         Jorge Ramirez
                                                        President, Chicago Federation of Labor (AFL-CIO)
Sue Ling Gin
Chairman & CEO, Flying Food Group                       Michael Sacks
President & Founder, New Management Ltd                 CEO, Grosvenor Capital Management

Roberto Herencia                                        Sam Scott
President & CEO, BXM Holdings                           Chairman, President & CEO, Corn Products
                                                            International (Retired)
Julie Howard
CEO, Navigant Consulting                                Alejandro Silva
                                                        Chairman & CEO, Evans Food Group
Stacy Janiak
Managing Partner (Chicago Office), Deloitte             James Skogsbergh
                                                        President & CEO, Advocate Health Care
Aylwin Lewis
President & CEO, Potbelly Sandwich Works                Kurt Summers
                                                        Senior Vice-President, Grosvenor Capital Management
James H. Lowry
Senior Advisor, Boston Consulting Group                 Scott Swanson
                                                        President, Charter One and RBS Citizens, Illinois
Michael Moskow                                               and Michigan
Vice-Chairman and Senior Fellow on the Global
     Economy, Chicago Council on Global Affairs         Michael Tang
President & CEO, Federal Reserve Bank of                Vice-Chairman, Tang Industries
     Chicago (Retired)                                  CEO, National Material

                           Kevin Willer
                           President & CEO, Chicagoland Entrepreneurial Center




4                                                                              PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
Dear President Preckwinkle:
The Cook County Council of Economic Advisors is pleased to present for
your consideration the following Economic Growth Action Agenda for
Cook County.
For the last decade, our metropolitan economy has grown more slowly
than the nation’s and those in other metropolitan areas. Cook County
plays a large role in this slipping economy. We have some of its greatest
assets, including robust industries, a national transportation hub, world-
class universities, and a high percentage of college-educated residents.
But we also face some of its biggest challenges—a declining number of
middle-skill production jobs and a greater percentage of people with low
educational attainment. Cook County has multiple communities where
residents are isolated by poverty, and its government is constrained by
fiscal problems.
We face these challenges as the global economy is shifting dramatically.
It is now more knowledge-based, more centered in metropolitan regions,
and more dynamic. As we look for ways to bolster our region’s economy,
we will need to take these changes into account.
In the past, Cook County government has not had a strategic agenda for
supporting our economy. It is our hope that this Action Agenda will guide
the County as it reshapes its economic role in the region. The Agenda
includes nine strategies for economic growth that should shape County
policy, and inform its partnerships and actions. Like any good plan, it is
intended to be a living document that will be adjusted as initiatives are
developed to implement the strategies and as new strategic opportuni-
ties arise.
We have called this Action Agenda “Partnering for Prosperity” to reflect
the many partnerships Cook County must engage in to support economic
growth. Our intent is to avoid duplication, promote cooperation, and
ensure that the County’s assets are well-deployed to support growth in
the region’s economy. All this should be done in alignment with other
regional plans and initiatives.
We want to thank Metropolis Strategies and RW Ventures for their work
in research, analysis, and document development. Thanks also go to the
staff of the President’s Office and the Bureau of Economic Development,
to the members of the Council of Economic Advisors, and to the Chicago
Community Trust, which provided financial support for part of this effort.
Most of all, thank you for this opportunity to support your leadership in
making Cook County an effective partner in regional economic growth.
We look forward to continuing to work with you.




Bill Osborn                                         John Rogers
Co-Chair, Council of Economic Advisors              Co-Chair, Council of Economic Advisors

Chairman of the Board, Northwestern University      Chairman, CEO & CIO, Ariel Investments
Chairman, Northern Trust Corporation (Retired)



PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                 5
Foreword
                                  The Chicago region enjoys many economic advantages. It
                                  is a national transportation hub and a leading center for
                                  industry and business. It has a well-educated population, a
                                  civic-minded business community, and an impressive network
                                  of public and private research institutions.
                                       Despite these strong assets, the region is underperforming.
                                  Its public and private sectors need to take action, committing
                                  to a new kind of economic development that will produce
                                  results in today’s global economy.
                                       The region’s businesses, civic organizations, and local
                                  goverments are beginning to respond to this call, and Cook
                                  County disproportionately contains—and drives—the region’s
                                  economy, with more than half of its population, jobs, busi-
                                  nesses, and income. It also grapples with acute instances of
                                  the region’s overall economic challenges: heavily congested
                                  transportation infrastructure, concentrated poverty, and a
                                  workforce that is poorly matched to hiring needs and poorly
                                  connected to job centers.
                                       Under the leadership of President Toni Preckwinkle and
                                  with the guidance of her new Council of Economic Advisors,
                                  the County has committed itself to a clear focus on econom-
                                  ic growth, aiming to ensure that its programs, policies, and
                                  investments are aligned to support a thriving private sector.
                                       The public release of “Partnering for Prosperity” is the
                                  first step in this ongoing process. This Economic Growth
                                  Action Agenda outlines nine realizable, effective strategies
                                  the County can pursue in order to promote economic growth
                                  in the region. The Council is already prioritizing the report’s
                                  highest-potential strategies, and investigating routes to imple-
                                  mentation. As initiatives develop and momentum builds, the
                                  Action Agenda will continue to evolve, responding to new
                                  economic opportunities and to new prospects for creating re-
                                  gional partnerships. It is in these partnerships that the County
                                  and the region will find their strongest tools for growth.
                                       This document is a brief introduction to the most important
                                  points in the Economic Growth Action Agenda, including its
                                  recommended strategies. Readers can download a PDF of
                                  the full report at:
                                  http://blog.cookcountyil.gov/economicdevelopment/
                                  growth-strategies

PHOTO CREDITS
Cover photograph, Tim Peartrice



6                                                                         PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
GROWTH IN A NEW GLOBAL ECONOMY

Over the past 18 months, several well-               There are no “one-size-fits-all” solutions
regarded plans for the region have been              for helping regional economies grow.
developed.1 These reveal troubling trends            Each region has unique assets and will
in the metropolitan economy—which,                   require specially tailored strategies.
despite strong economic assets, has un-              Growth strategies need to be integrated,
derperformed the nation and its peers                not fragmented—a regional economy’s
in terms of output, employment, and                  whole is greater than the sum of its parts,
productivity.                                        and each piece (such as workforce train-
    The region’s underperformance re-                ing, infrastructure, and business devel-
flects in part its failure to understand and         opment) succeeds or fails in context of
respond to a changing global economy.                the others.
Cook County’s Economic Growth Action
Agenda has been crafted to respond to                INCLUSIVENESS IS GOOD FOR GROWTH
these new conditions.                       All parts of the region’s economy are in-
                                            extricably linked. Regions that develop
KNOWLEDGE FUELS THE WORLD’S ECONOMIES       and deploy more of their human, real
Knowledge-based products and process- estate, and business assets do better in
es are proliferating across all industries, the long run because they create greater
and entirely new sectors are emerging.      efficiency and productivity, and reduce
Continuous innovation, assisted by flex-    the costs of poverty.
ible, responsive networks, has become
the hallmark of economic growth in the      REGIONAL STRATEGIES PAY OFF
new global economy.                         In the past, underperforming regions
                                            tended to “catch up” with their higher-
METROPOLITAN REGIONS ARE KEY                performing peers over time. This dynamic
Metropolitan regions concentrate assets, has changed. High-performing regions
including human, business, real-estate,     tend to continue pulling ahead of their
and institutional assets, and allow them    competitors. In this context, small changes
to interact continually to create eco-      in strategy can make a big difference.
nomic value. As a result, metropolitan
regions are now the global economy’s
primary competitive units.

1	See Chicago Metropolitan Agency for Planning,
  “GO TO 2040” (October 2011); World Business
  Chicago, “A Plan for Economic Growth and Jobs”
  (March 2012); and Organization for Economic
  Cooperation and Development, “OECD Territorial
  Review: The Chicago Tri-State Metropolitan Area”
  (September 2012).




PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                   7
A KEY PART OF THE CHICAGO REGION

Cook County is the core of the region’s            COOK COUNTY’S SHARE
population, jobs, businesses, and pro-             OF THE REGION’S
ductivity (see charts at right). These             LAND AREA
assets exert outsized influence on the
regional economy and, as global eco-                    12.5%
nomic trends continue to favor dense,
connected areas, they are likely to
become an even more significant driver
of the regional economy over time.                 COOK COUNTY’S SHARE
    The County also has a dispropor-               OF THE REGION’S
tionate share of certain economic                  POPULATION
challenges. The County’s unemploy-
ment rate, for example, is one point
higher than the rest of the region’s18
                                                                 55%
and its poverty rate is nearly double
that of its neighbors.
    Both its assets and challenges are
                                                   COOK COUNTY’S SHARE
closely linked to the region’s economy.
                                                   OF THE REGION’S
Like the region, Cook County has un-
                                                   BUSINESSES

                                                                 54%
derperformed economically and needs
to repond with fact-based strategic eco-
nomic growth planning.



                                                   COOK COUNTY’S SHARE
                                                   OF THE REGION’S
                                                   AGGREGATE INCOME

                                                       53.5%

                                                   COOK COUNTY’S SHARE
                                                   OF THE REGION’S JOBS

                          COOK COUNTY                            58%
                          CHICAGO MSA
                          WITHOUT COOK


8                                          PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
A PROCESS FOR FINDING OPPORTUNITIES

To identify appropriate, high-impact
economic growth strategies for Cook
County, the Economic Growth Action
Agenda analyzed three essential fac-
tors. The Action Agenda’s strategies                        REGIONAL ECONOMIC
focus on the point where these three                       GROWTH OPPORTUNITIES
factors intersect because this is where
the County’s best opportunities occur.

REGIONAL ECONOMIC GROWTH OPPORTUNITIES
Since regions are the global economy’s             COUNTY-SPECIFIC      COUNTY GOVERNMENT
primary competitive units, metropolitan         ASSETS AND CHALLENGES       CAPACITIES
Chicago’s growth strategies must be
grounded in its unique regional charac-
teristics. The Economic Growth Action
Agenda builds on existing regional stud-
ies that highlight the size and diversity
of metro Chicago’s economy, analyze            COUNTY GOVERNMENT CAPACITIES
its rich economic assets, and identify         Cook County government’s particular
opportunities and strategies for moving        economic growth capacities and core
forward.                                       competencies determine which County-
                                               centered regional opportunities it can
COUNTY-SPECIFIC ASSETS AND CHALLENGES          best impact. Its capacities to influence
Not all regional opportunities are equal-      economic growth fall into three catego-
ly centered in Cook County or relevant         ries: its inherent governmental capacities
to its people, firms, and communities. The     (taxation, regulation, and the provision
County’s assets and challenges define          of public goods) shape and enable mar-
which opportunities are most relevant          ket activity; its various offices, bureaus,
and most susceptible to its influence.         and departments administer economic
    The Economic Growth Action Agenda          development funds or tools (such as
is based on a rigorous market analysis         property tax abatements); and its po-
of the County’s performance in five key        sition as a major employer, purchaser,
areas: performance of regional clusters;       and property owner can be leveraged
human capital; innovation and entrepre-        to improve workforce quality, local
neurship; spatial efficiency; and institu-     business growth, and efficient urban
tional environment.                            development.




PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                9
STRATEGIES FOR PROMOTING GROWTH

From the Action Agenda’s detailed            The following list of nine is a begin-
market analysis, nine priority growth        ning. The work that follows to develop
strategies emerged. These are intended       initiatives will be a next step, and other
to align with other recently developed       strategies may emerge as the County
regional strategies, and will be imple-      builds its capacity to support economic
mented in partnership with World Busi-       growth. The strategies fall into three
ness Chicago, CMAP, the Chicagoland          general categories: governance, pro-
Chamber of Commerce, and others.             duction, and support.



     GOVERNANCE STRATEGIES
Businesses will invest in regions with effective institutions, and
regional collaboration is essential to successful economic
growth strategies.



            COOK COUNTY GOVERNMENT 3.0
     1      Increase Cook County government’s transparency,
            efficiency, and accountability

                      Businesses look for a good tax-value proposition, which in
               WHY    part rests on effective, efficient government


                      Initiatives to implement this strategy should include:
              WHAT
                           Open, transparent flexible, adaptive, efficient government
                           that includes technology-enabled policies and processes.
                           Close engagement with citizens and with the civic and
                           private sectors.
                           Expanded collaboration across the County’s elected offices
                           and with municipalities.
         REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 10);
           ALIGNMENTS CMAP GOTO 2040 (Efficient Governance); OECD Territorial
                      Review (27)


10                                                              PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
INTERGOVERNMENTAL EFFICIENCIES
      2              Increase suburban government efficiency through
                     shared services and centralized capacities

                                         Cook County contains 121 municipalities of different sizes,
                         WHY             with a wide range of capacities. Duplication of services im-
                                         poses costs on businesses and residents.
                                         Initiatives to implement this strategy should include:
                        WHAT             Resources to identify and help implement service-sharing
                                         opportunities among interested suburbs.
                                         Technical expertise made available to suburbs that have
                                         limited government capacities.
           REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 10);
             ALIGNMENTS CMAP GOTO 2040 (Pursue Coordinated Investments);
                                         OECD Territorial Review (28)




                     STRONG STRATEGIC CAPACITY
      3              Increase the region’s capacity for strategic, coor-
                     dinated economic growth initiatives

                                         Local economic development tends to focus on “zero-sum”
                         WHY             intra-regional competition for firms, and many suburbs have
                                         limited economic development capacities.
                                         Initiatives to implement this strategy should include:
                        WHAT                   Capacity for detailed economic analyses and business
                                               planning that can support new economic growth initiatives.
                                               Shared initiatives across municipalities within Cook County
                                               and, ultimately, across County borders.
            REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Implementation
              ALIGNMENTS approach); CMAP GO TO 2040 (Pursue Coordinated Invest-
                                         ments); OECD Territorial Review (28)




PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                            11
PRODUCTION STRATEGIES
The production sectors of the regional economy—not retail or
real estate—are its primary drivers of growth.

             MANUFACTURING PRODUCTIVITY
     4       Increase the productivity of Cook County’s manu-
             facturing clusters

                       Manufacturing in Cook County and the region is strong and
               WHY     positioned to grow. In particular, Fabricated Metals and Food
                       Processing employment are 20 percent more concentrated in
                       Cook than in the nation.
                       Initiatives to implement this strategy should include:
               WHAT    Assistance for manufacturing firms that need cutting-edge tech-
                       nologies and workers to operate them.
         REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 1);
           ALIGNMENTS CMAP GOTO 2040 (Support Economic Innovation); OECD
                       Territorial Review (29)




             SUPPLIER COMPETITIVENESS
     5       Increase competitiveness of anchor institution
             suppliers

                       Cook County spends $1 billion annually on goods and ser-
               WHY     vices. Improving the productivity and competitiveness of its
                       suppliers, especially SWMBEs, would be good for County
                       government and for regional growth
                       Initiatives to implement this strategy should include:
               WHAT       Small business productivity services tailored for this group.
                          NOT a “buy local” or set- side strategy.
                                                   a

         REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategies 2 and 9)
           ALIGNMENTS


12                                                             PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
LOGISTICS PRODUCTIVITY
      6              Increase the productivity and efficiency of the
                     Transportation and Logstics cluster
                                            i

                                         Transportation and logistics employs over 140,000 people
                         WHY             in the region, 54 percent of whom work in Cook. Trucking is
                                         particularly strong in the the County.
                                         Initiatives to implement this strategy should include:
                        WHAT                   Support for existing and planned logistics strategies.
                                               Assistance for small trucking companies that need to update
                                               their technologies.
            REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 3); CMAP
              ALIGNMENTS GOTO 2040 (Support Economic Innovation)




      SUPPORT STRATEGIES
Certain key areas “support” economic growth and enable
markets. Keeping these healthy creates an environment where
businesses can thrive.



                     STRONG PHYSICAL INFRASTRUCTURE
       7             Improve the quality  nd efficiency of the region’s
                                          a
                     transportation infrastructure

                                         Businesses rely on the efficient movement of people, goods,
                         WHY             and ideas, but the region is now the nation’s third most con-
                                         gested—at a cost of $6.2 billion annually.
                                         Initiatives to implement this strategy should include:
                        WHAT                  Improved regional public transit.
                                               Congestion management.
            REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategies 3
              ALIGNMENTS and 8); CMAP GOTO 2040 (Regional Mobility); OECD
                                         Territorial Review (27)



PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                            13
COMMUNITIES THAT CONNECT
     8       Support the emergence  f dense, mixed-use, well-
             connected communities
                                   o


                       The region has an acute jobs-housing mismatch, and its poor-
               WHY     est areas—many of them located in Cook County—are isolated
                       from economic opportunity.
                       Initiatives to implement this strategy should include:
               WHAT       Mixed-use, high-density development.
                          Affordable housing near job centers and transit.
                          Broadband expansion.
         REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 9); CMAP
           ALIGNMENTS GO TO 2040 (Achieve greater livability through land use and
                       housing); OECD Territorial Review (18)




             DEMAND-DRIVEN WORKFORCE
     9       Improve the alignment of Cook County residents’
                                    
             skills with employer demand

                       In Cook County, higher-skilled occupations are growing much
               WHY     faster than jobs for lower-skilled workers. At the same time,
                       42 percent of residents have a high school education or less.
                       Cook is home to two-thirds of the region’s immigrants, but
                       immigrants in Cook are less likely to speak fluent English or
                       have a college degree.
                       Initiatives to implement this strategy should include:
              WHAT        Employer-driven, targeted training aimed at priority sectors.
                          Tailored workforce training and jobs-matching for the
                          County’s immigrant population.
         REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 6); CMAP
           ALIGNMENTS GO TO 2040 (Improve Education and Workforce Develop-
                       ment); OECD Territorial Review (18)




14                                                              PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
COOK COUNTY’S NEXT STEPS
This Economic Growth Action Agenda sets the stage for new
partnerships, policies, actions, and investments for Cook County.
Implementation of the agenda will require the following:

1. FULLY ENGAGE COUNTY GOVERNMENT AND           2.	IDENTIFY INITIATIVES THAT SUPPORT EACH OF
   PARTNERS IN IMPLEMENTATION                      THE STRATEGIES
Acting on these strategies requires the         The nine recommended strategies set
engagement of all levels of County gov-         a direction for the County. Each must
ernment and multiple outside partners.          be implemented through the adoption
The County must:                                of specific initiatives. The range of
                                                possible initiatives is wide: some may
	     Engage people throughout the              be modest and require few resources,
      County’s departments, agencies,           and others may be more ambitious
      and elected offices (as well as           and require time, resources, and the
      municipalities, other governments,        development of new partnerships.
      and civic groups) by informing them           A first step in this process is to iden-
      about the Action Agenda and it            tify existing initiatives and programs
      alignments with other regional eco-       consistent with the recommended strat-
      nomic growth plans.                       egies, and determine what role the
	     Align the County’s day-to-day work        County government and the Council
      and programs with the strategies.         of Economic Advisers might play in
      This will start with detailed review      supporting them. Where there is no
      by County department and agency           existing initiative, the County and the
      heads to determine how they can           Council will have to play a leadership
      adjust guidelines, criteria, regulatory   role in defining a course of action to
      practices, investments, and priorities    move the strategy forward.
      to support the strategies.                3.	SET PRIORITIES AND SELECT INITIATIVES FOR
	     Establish an implementation team             ACTION
      with the skills, resources, and time      The County and the Council will eval-
      needed to work across departments         uate the inventory of initiatives and
      supporting alignment with the strat-      select those that they have the capacity
      egies. The team should also be able       to lead or support. A business plan will
      to measure and monitor progress,          be required for those initiatives that the
      and work effectively with other           County will lead. For initiatives that
      governments and civic institutions        others are leading, the County will de-
      leading initiatives that are part of      velop specific work plans to identify the
      the County’s agenda.                      resources to be devoted to the activity,
                                                and the value that will be realized as a
                                                result of their commitments.


PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY                                                   15
ACKNOWLEDGEMENTS

       Cook County wishes to thank its Council of
       Economic Advisors for their leadership, and
       Metropolis Strategies and RW Ventures for
       their work in research, analysis, and document
       development for “Partnering for Prosperity.”
       Thanks also go to the staff of the President’s
       Office and the Bureau of Economic Develop-
       ment, and to The Chicago Community Trust.
       PDFs of “Partnering for Prosperity: An Econom-
       ic Growth Action Agenda” and its accompany-
       ing Executive Summary can be downloaded at:
     http://blog.cookcountyil.gov/economicdevelopment/
     growth-strategies




16                                               PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY

Más contenido relacionado

Similar a Finalpfp exec summary

Kraftfoods. Creating a more delicious world
Kraftfoods. Creating a more delicious worldKraftfoods. Creating a more delicious world
Kraftfoods. Creating a more delicious worldEvgeny Borodin
 
The Changing Resource Development Paradigm: Maximizing Sustainable Local Be...
The Changing Resource Development Paradigm:   Maximizing Sustainable Local Be...The Changing Resource Development Paradigm:   Maximizing Sustainable Local Be...
The Changing Resource Development Paradigm: Maximizing Sustainable Local Be...Wayne Dunn
 
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10Lessons in Leadership and Sustainability from Greensburg KS 7 13-10
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10lauraebrown
 
Visioning and Listening Meeting Presentation
Visioning and Listening Meeting PresentationVisioning and Listening Meeting Presentation
Visioning and Listening Meeting PresentationBNIM
 
Vision 2020 + Legacy Fort Wayne
Vision 2020 + Legacy Fort WayneVision 2020 + Legacy Fort Wayne
Vision 2020 + Legacy Fort WayneNortheastIndiana
 
Gcat presentation
Gcat presentationGcat presentation
Gcat presentationWes Regan
 
Budget Message2012 2013
Budget Message2012 2013Budget Message2012 2013
Budget Message2012 2013cpearsmi
 
Vision2050
Vision2050Vision2050
Vision2050LAZOVOY
 
2014년 베스트 노인친화도시 보고서
2014년 베스트 노인친화도시  보고서2014년 베스트 노인친화도시  보고서
2014년 베스트 노인친화도시 보고서Seongwon Kim
 
Place Based Enterprise for Local Government
Place Based Enterprise for Local Government Place Based Enterprise for Local Government
Place Based Enterprise for Local Government Robert Prestipino
 
Greensburg presentation 7 13-10
Greensburg presentation 7 13-10Greensburg presentation 7 13-10
Greensburg presentation 7 13-10lauraebrown
 
Post Report on the Conduct of Region 1 CMC
Post Report on the Conduct of Region 1 CMCPost Report on the Conduct of Region 1 CMC
Post Report on the Conduct of Region 1 CMCJo Balucanag - Bitonio
 
2017-2018 Buffalo Niagara Partnership Annual Report
2017-2018 Buffalo Niagara Partnership Annual Report2017-2018 Buffalo Niagara Partnership Annual Report
2017-2018 Buffalo Niagara Partnership Annual ReportBuffalo Niagara Partnership
 
Sustainable Development Commision
Sustainable Development CommisionSustainable Development Commision
Sustainable Development CommisionJustin Yuen
 

Similar a Finalpfp exec summary (20)

2013 Public Policy Guide
2013 Public Policy Guide2013 Public Policy Guide
2013 Public Policy Guide
 
Kraftfoods. Creating a more delicious world
Kraftfoods. Creating a more delicious worldKraftfoods. Creating a more delicious world
Kraftfoods. Creating a more delicious world
 
BACEI RES Report
BACEI RES ReportBACEI RES Report
BACEI RES Report
 
The Changing Resource Development Paradigm: Maximizing Sustainable Local Be...
The Changing Resource Development Paradigm:   Maximizing Sustainable Local Be...The Changing Resource Development Paradigm:   Maximizing Sustainable Local Be...
The Changing Resource Development Paradigm: Maximizing Sustainable Local Be...
 
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10Lessons in Leadership and Sustainability from Greensburg KS 7 13-10
Lessons in Leadership and Sustainability from Greensburg KS 7 13-10
 
March_VCEDA-HighResFinal
March_VCEDA-HighResFinalMarch_VCEDA-HighResFinal
March_VCEDA-HighResFinal
 
Visioning and Listening Meeting Presentation
Visioning and Listening Meeting PresentationVisioning and Listening Meeting Presentation
Visioning and Listening Meeting Presentation
 
Vision 2020 + Legacy Fort Wayne
Vision 2020 + Legacy Fort WayneVision 2020 + Legacy Fort Wayne
Vision 2020 + Legacy Fort Wayne
 
Gcat presentation
Gcat presentationGcat presentation
Gcat presentation
 
Budget Message2012 2013
Budget Message2012 2013Budget Message2012 2013
Budget Message2012 2013
 
Vision2050
Vision2050Vision2050
Vision2050
 
Base summit briefing book june 2013
Base summit briefing book june 2013Base summit briefing book june 2013
Base summit briefing book june 2013
 
2014년 베스트 노인친화도시 보고서
2014년 베스트 노인친화도시  보고서2014년 베스트 노인친화도시  보고서
2014년 베스트 노인친화도시 보고서
 
Place Based Enterprise for Local Government
Place Based Enterprise for Local Government Place Based Enterprise for Local Government
Place Based Enterprise for Local Government
 
Greensburg presentation 7 13-10
Greensburg presentation 7 13-10Greensburg presentation 7 13-10
Greensburg presentation 7 13-10
 
Sosyal İyilik Raporu / JWT
Sosyal İyilik Raporu / JWTSosyal İyilik Raporu / JWT
Sosyal İyilik Raporu / JWT
 
Post Report on the Conduct of Region 1 CMC
Post Report on the Conduct of Region 1 CMCPost Report on the Conduct of Region 1 CMC
Post Report on the Conduct of Region 1 CMC
 
Public Policy Guide
Public Policy GuidePublic Policy Guide
Public Policy Guide
 
2017-2018 Buffalo Niagara Partnership Annual Report
2017-2018 Buffalo Niagara Partnership Annual Report2017-2018 Buffalo Niagara Partnership Annual Report
2017-2018 Buffalo Niagara Partnership Annual Report
 
Sustainable Development Commision
Sustainable Development CommisionSustainable Development Commision
Sustainable Development Commision
 

Más de cookcountyblog

Cook County Annual Report 2013
Cook County Annual Report 2013Cook County Annual Report 2013
Cook County Annual Report 2013cookcountyblog
 
Final Amendments to the Cook County Executive Budget Recommendation
Final Amendments to the Cook County Executive Budget RecommendationFinal Amendments to the Cook County Executive Budget Recommendation
Final Amendments to the Cook County Executive Budget Recommendationcookcountyblog
 
Tentative Amendments to the 2014 Executive Budget Recommendation
Tentative Amendments to the 2014 Executive Budget RecommendationTentative Amendments to the 2014 Executive Budget Recommendation
Tentative Amendments to the 2014 Executive Budget Recommendationcookcountyblog
 
2013 q2 star report final
2013 q2 star report   final2013 q2 star report   final
2013 q2 star report finalcookcountyblog
 
Fy2014 preliminary budget report (web)
Fy2014 preliminary budget report (web)Fy2014 preliminary budget report (web)
Fy2014 preliminary budget report (web)cookcountyblog
 
Full Report of the Cook County Sustainability Council, 060513
Full Report of the Cook County Sustainability Council, 060513Full Report of the Cook County Sustainability Council, 060513
Full Report of the Cook County Sustainability Council, 060513cookcountyblog
 
Executive Summary of Cook County Sustainability Advisory Report, 060513
Executive Summary of Cook County Sustainability Advisory Report, 060513Executive Summary of Cook County Sustainability Advisory Report, 060513
Executive Summary of Cook County Sustainability Advisory Report, 060513cookcountyblog
 
Uploading datasets to data site
Uploading datasets to data siteUploading datasets to data site
Uploading datasets to data sitecookcountyblog
 
2013 Rabies Vaccination and Microchip Clinic Calendar
2013 Rabies Vaccination and Microchip Clinic Calendar2013 Rabies Vaccination and Microchip Clinic Calendar
2013 Rabies Vaccination and Microchip Clinic Calendarcookcountyblog
 
Approved Amendments to the FY 2013 Cook County Budget
Approved Amendments to the FY 2013 Cook County BudgetApproved Amendments to the FY 2013 Cook County Budget
Approved Amendments to the FY 2013 Cook County Budgetcookcountyblog
 
2013 Cook County Suburban Warming Centers
2013 Cook County Suburban Warming Centers2013 Cook County Suburban Warming Centers
2013 Cook County Suburban Warming Centerscookcountyblog
 
2012 Cook County Government Midterm Report
2012 Cook County Government Midterm Report2012 Cook County Government Midterm Report
2012 Cook County Government Midterm Reportcookcountyblog
 
Cook County Government Budget Fy2013 Tentative Amendments
Cook County Government Budget Fy2013 Tentative AmendmentsCook County Government Budget Fy2013 Tentative Amendments
Cook County Government Budget Fy2013 Tentative Amendmentscookcountyblog
 
2013 Executive Budget Recommendation Briefing
2013 Executive Budget Recommendation Briefing2013 Executive Budget Recommendation Briefing
2013 Executive Budget Recommendation Briefingcookcountyblog
 
8.16.12 exbt 02 overall reduced
8.16.12 exbt 02 overall reduced8.16.12 exbt 02 overall reduced
8.16.12 exbt 02 overall reducedcookcountyblog
 
Center Street Cross Sections
Center Street Cross SectionsCenter Street Cross Sections
Center Street Cross Sectionscookcountyblog
 

Más de cookcountyblog (20)

Cook County Annual Report 2013
Cook County Annual Report 2013Cook County Annual Report 2013
Cook County Annual Report 2013
 
Final Amendments to the Cook County Executive Budget Recommendation
Final Amendments to the Cook County Executive Budget RecommendationFinal Amendments to the Cook County Executive Budget Recommendation
Final Amendments to the Cook County Executive Budget Recommendation
 
Tentative Amendments to the 2014 Executive Budget Recommendation
Tentative Amendments to the 2014 Executive Budget RecommendationTentative Amendments to the 2014 Executive Budget Recommendation
Tentative Amendments to the 2014 Executive Budget Recommendation
 
2013 q2 star report final
2013 q2 star report   final2013 q2 star report   final
2013 q2 star report final
 
Fy2014 preliminary budget report (web)
Fy2014 preliminary budget report (web)Fy2014 preliminary budget report (web)
Fy2014 preliminary budget report (web)
 
Full Report of the Cook County Sustainability Council, 060513
Full Report of the Cook County Sustainability Council, 060513Full Report of the Cook County Sustainability Council, 060513
Full Report of the Cook County Sustainability Council, 060513
 
Executive Summary of Cook County Sustainability Advisory Report, 060513
Executive Summary of Cook County Sustainability Advisory Report, 060513Executive Summary of Cook County Sustainability Advisory Report, 060513
Executive Summary of Cook County Sustainability Advisory Report, 060513
 
Uploading datasets to data site
Uploading datasets to data siteUploading datasets to data site
Uploading datasets to data site
 
2013 Rabies Vaccination and Microchip Clinic Calendar
2013 Rabies Vaccination and Microchip Clinic Calendar2013 Rabies Vaccination and Microchip Clinic Calendar
2013 Rabies Vaccination and Microchip Clinic Calendar
 
Approved Amendments to the FY 2013 Cook County Budget
Approved Amendments to the FY 2013 Cook County BudgetApproved Amendments to the FY 2013 Cook County Budget
Approved Amendments to the FY 2013 Cook County Budget
 
2013 Cook County Suburban Warming Centers
2013 Cook County Suburban Warming Centers2013 Cook County Suburban Warming Centers
2013 Cook County Suburban Warming Centers
 
DHSEM CCR 121012
DHSEM CCR 121012DHSEM CCR 121012
DHSEM CCR 121012
 
2012 Cook County Government Midterm Report
2012 Cook County Government Midterm Report2012 Cook County Government Midterm Report
2012 Cook County Government Midterm Report
 
Execsumrev
ExecsumrevExecsumrev
Execsumrev
 
Cook County Government Budget Fy2013 Tentative Amendments
Cook County Government Budget Fy2013 Tentative AmendmentsCook County Government Budget Fy2013 Tentative Amendments
Cook County Government Budget Fy2013 Tentative Amendments
 
2013 Executive Budget Recommendation Briefing
2013 Executive Budget Recommendation Briefing2013 Executive Budget Recommendation Briefing
2013 Executive Budget Recommendation Briefing
 
Public Meeting Notice
Public Meeting NoticePublic Meeting Notice
Public Meeting Notice
 
Public Hearing Notice
Public Hearing NoticePublic Hearing Notice
Public Hearing Notice
 
8.16.12 exbt 02 overall reduced
8.16.12 exbt 02 overall reduced8.16.12 exbt 02 overall reduced
8.16.12 exbt 02 overall reduced
 
Center Street Cross Sections
Center Street Cross SectionsCenter Street Cross Sections
Center Street Cross Sections
 

Finalpfp exec summary

  • 1. PARTNERING FOR PROSPERITY An Economic Growth Action Agenda for Cook County EXECUTIVE SUMMARY April 2013 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 1
  • 2. 2 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 3. To the Residents of Cook County: Cook County is at the heart of a great metropolitan region, where we make up more than half of its population, jobs, and businesses. Although our assets are plentiful, our economy has been slipping. This is impacting millions of decisions made each day by families, businesses, and inves- tors in this region. Governments, including Cook County government, don’t control this activity, but we do have a role to play. I’m convinced that we can create an environment where the economy can thrive. When we provide first-class public services and infrastructure, we help the economy grow. When we create accountable, transparent and responsive government, we help the economy grow. These are roles that County government can—and should—play. We have an obligation to ensure that our programs, policies and investments support a thriving private sector. We also have a responsibility to find ways we can partner with other governments and civic institutions to align our efforts. We are one region. Together, we can compete on a global stage. Separately, we are at risk of competing with each other in a short-sighted, zero-sum game. To help County government address our role in the region’s economy, I appointed a Council of Economic Advisors, chaired by Bill Osborn and John Rogers. I gave the Council a difficult but critical task: to find practi- cal, effective ways that County government can support economic growth. “Partnering for Prosperity” is the Council’s response to that challenge. Building on a strong foundation of research and analysis, it offers nine strategies for improving the business environment, encouraging produc- tivity, and supporting the people, places, and actions that can help the economy grow. This document is a starting point for things to come. With the continued advice and assistance of the Council of Economic Advisors, initiatives will be developed to implement these strategies. We cannot do it alone. But other regional and local partners already have thoughtful plans and our strategies are designed to align with them. We are working closely to support the Chicago Metropolitan Agency for Planning “GO TO 2040” plan, the World Business Chicago “Plan for Economic Growth and Jobs,” and the Chicagoland Chamber of Commerce’s new Tri-State Alliance for Regional Development. I look forward to the future opportunities this document will foster, creating prosperity for the residents of Cook County and the entire region. Sincerely, Toni Preckwinkle, President PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 3
  • 4. COOK COUNTY COUNCIL OF ECONOMIC ADVISORS Co-Chairs Bill Osborn John Rogers Chairman of the Board, Northwestern University Chairman, CEO & CIO, Ariel Investments Chairman, Northern Trust Corporation (Retired) Paula Allen-Meares Sheila O'Grady Chancellor, UIC Consultant, Spencer Stuart Former President, Illinois Restaurant Association Robert Beavers Chairman & CEO, Beavers Holdings Richard Price Chairman & CEO, Mesirow Financial Frank Clark Chairman & CEO, ComEd (Retired) Jorge Ramirez President, Chicago Federation of Labor (AFL-CIO) Sue Ling Gin Chairman & CEO, Flying Food Group Michael Sacks President & Founder, New Management Ltd CEO, Grosvenor Capital Management Roberto Herencia Sam Scott President & CEO, BXM Holdings Chairman, President & CEO, Corn Products International (Retired) Julie Howard CEO, Navigant Consulting Alejandro Silva Chairman & CEO, Evans Food Group Stacy Janiak Managing Partner (Chicago Office), Deloitte James Skogsbergh President & CEO, Advocate Health Care Aylwin Lewis President & CEO, Potbelly Sandwich Works Kurt Summers Senior Vice-President, Grosvenor Capital Management James H. Lowry Senior Advisor, Boston Consulting Group Scott Swanson President, Charter One and RBS Citizens, Illinois Michael Moskow and Michigan Vice-Chairman and Senior Fellow on the Global Economy, Chicago Council on Global Affairs Michael Tang President & CEO, Federal Reserve Bank of Vice-Chairman, Tang Industries Chicago (Retired) CEO, National Material Kevin Willer President & CEO, Chicagoland Entrepreneurial Center 4 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 5. Dear President Preckwinkle: The Cook County Council of Economic Advisors is pleased to present for your consideration the following Economic Growth Action Agenda for Cook County. For the last decade, our metropolitan economy has grown more slowly than the nation’s and those in other metropolitan areas. Cook County plays a large role in this slipping economy. We have some of its greatest assets, including robust industries, a national transportation hub, world- class universities, and a high percentage of college-educated residents. But we also face some of its biggest challenges—a declining number of middle-skill production jobs and a greater percentage of people with low educational attainment. Cook County has multiple communities where residents are isolated by poverty, and its government is constrained by fiscal problems. We face these challenges as the global economy is shifting dramatically. It is now more knowledge-based, more centered in metropolitan regions, and more dynamic. As we look for ways to bolster our region’s economy, we will need to take these changes into account. In the past, Cook County government has not had a strategic agenda for supporting our economy. It is our hope that this Action Agenda will guide the County as it reshapes its economic role in the region. The Agenda includes nine strategies for economic growth that should shape County policy, and inform its partnerships and actions. Like any good plan, it is intended to be a living document that will be adjusted as initiatives are developed to implement the strategies and as new strategic opportuni- ties arise. We have called this Action Agenda “Partnering for Prosperity” to reflect the many partnerships Cook County must engage in to support economic growth. Our intent is to avoid duplication, promote cooperation, and ensure that the County’s assets are well-deployed to support growth in the region’s economy. All this should be done in alignment with other regional plans and initiatives. We want to thank Metropolis Strategies and RW Ventures for their work in research, analysis, and document development. Thanks also go to the staff of the President’s Office and the Bureau of Economic Development, to the members of the Council of Economic Advisors, and to the Chicago Community Trust, which provided financial support for part of this effort. Most of all, thank you for this opportunity to support your leadership in making Cook County an effective partner in regional economic growth. We look forward to continuing to work with you. Bill Osborn John Rogers Co-Chair, Council of Economic Advisors Co-Chair, Council of Economic Advisors Chairman of the Board, Northwestern University Chairman, CEO & CIO, Ariel Investments Chairman, Northern Trust Corporation (Retired) PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 5
  • 6. Foreword The Chicago region enjoys many economic advantages. It is a national transportation hub and a leading center for industry and business. It has a well-educated population, a civic-minded business community, and an impressive network of public and private research institutions. Despite these strong assets, the region is underperforming. Its public and private sectors need to take action, committing to a new kind of economic development that will produce results in today’s global economy. The region’s businesses, civic organizations, and local goverments are beginning to respond to this call, and Cook County disproportionately contains—and drives—the region’s economy, with more than half of its population, jobs, busi- nesses, and income. It also grapples with acute instances of the region’s overall economic challenges: heavily congested transportation infrastructure, concentrated poverty, and a workforce that is poorly matched to hiring needs and poorly connected to job centers. Under the leadership of President Toni Preckwinkle and with the guidance of her new Council of Economic Advisors, the County has committed itself to a clear focus on econom- ic growth, aiming to ensure that its programs, policies, and investments are aligned to support a thriving private sector. The public release of “Partnering for Prosperity” is the first step in this ongoing process. This Economic Growth Action Agenda outlines nine realizable, effective strategies the County can pursue in order to promote economic growth in the region. The Council is already prioritizing the report’s highest-potential strategies, and investigating routes to imple- mentation. As initiatives develop and momentum builds, the Action Agenda will continue to evolve, responding to new economic opportunities and to new prospects for creating re- gional partnerships. It is in these partnerships that the County and the region will find their strongest tools for growth. This document is a brief introduction to the most important points in the Economic Growth Action Agenda, including its recommended strategies. Readers can download a PDF of the full report at: http://blog.cookcountyil.gov/economicdevelopment/ growth-strategies PHOTO CREDITS Cover photograph, Tim Peartrice 6 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 7. GROWTH IN A NEW GLOBAL ECONOMY Over the past 18 months, several well- There are no “one-size-fits-all” solutions regarded plans for the region have been for helping regional economies grow. developed.1 These reveal troubling trends Each region has unique assets and will in the metropolitan economy—which, require specially tailored strategies. despite strong economic assets, has un- Growth strategies need to be integrated, derperformed the nation and its peers not fragmented—a regional economy’s in terms of output, employment, and whole is greater than the sum of its parts, productivity. and each piece (such as workforce train- The region’s underperformance re- ing, infrastructure, and business devel- flects in part its failure to understand and opment) succeeds or fails in context of respond to a changing global economy. the others. Cook County’s Economic Growth Action Agenda has been crafted to respond to INCLUSIVENESS IS GOOD FOR GROWTH these new conditions. All parts of the region’s economy are in- extricably linked. Regions that develop KNOWLEDGE FUELS THE WORLD’S ECONOMIES and deploy more of their human, real Knowledge-based products and process- estate, and business assets do better in es are proliferating across all industries, the long run because they create greater and entirely new sectors are emerging. efficiency and productivity, and reduce Continuous innovation, assisted by flex- the costs of poverty. ible, responsive networks, has become the hallmark of economic growth in the REGIONAL STRATEGIES PAY OFF new global economy. In the past, underperforming regions tended to “catch up” with their higher- METROPOLITAN REGIONS ARE KEY performing peers over time. This dynamic Metropolitan regions concentrate assets, has changed. High-performing regions including human, business, real-estate, tend to continue pulling ahead of their and institutional assets, and allow them competitors. In this context, small changes to interact continually to create eco- in strategy can make a big difference. nomic value. As a result, metropolitan regions are now the global economy’s primary competitive units. 1 See Chicago Metropolitan Agency for Planning, “GO TO 2040” (October 2011); World Business Chicago, “A Plan for Economic Growth and Jobs” (March 2012); and Organization for Economic Cooperation and Development, “OECD Territorial Review: The Chicago Tri-State Metropolitan Area” (September 2012). PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 7
  • 8. A KEY PART OF THE CHICAGO REGION Cook County is the core of the region’s COOK COUNTY’S SHARE population, jobs, businesses, and pro- OF THE REGION’S ductivity (see charts at right). These LAND AREA assets exert outsized influence on the regional economy and, as global eco- 12.5% nomic trends continue to favor dense, connected areas, they are likely to become an even more significant driver of the regional economy over time. COOK COUNTY’S SHARE The County also has a dispropor- OF THE REGION’S tionate share of certain economic POPULATION challenges. The County’s unemploy- ment rate, for example, is one point higher than the rest of the region’s18 55% and its poverty rate is nearly double that of its neighbors. Both its assets and challenges are COOK COUNTY’S SHARE closely linked to the region’s economy. OF THE REGION’S Like the region, Cook County has un- BUSINESSES 54% derperformed economically and needs to repond with fact-based strategic eco- nomic growth planning. COOK COUNTY’S SHARE OF THE REGION’S AGGREGATE INCOME 53.5% COOK COUNTY’S SHARE OF THE REGION’S JOBS COOK COUNTY 58% CHICAGO MSA WITHOUT COOK 8 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 9. A PROCESS FOR FINDING OPPORTUNITIES To identify appropriate, high-impact economic growth strategies for Cook County, the Economic Growth Action Agenda analyzed three essential fac- tors. The Action Agenda’s strategies REGIONAL ECONOMIC focus on the point where these three GROWTH OPPORTUNITIES factors intersect because this is where the County’s best opportunities occur. REGIONAL ECONOMIC GROWTH OPPORTUNITIES Since regions are the global economy’s COUNTY-SPECIFIC COUNTY GOVERNMENT primary competitive units, metropolitan ASSETS AND CHALLENGES CAPACITIES Chicago’s growth strategies must be grounded in its unique regional charac- teristics. The Economic Growth Action Agenda builds on existing regional stud- ies that highlight the size and diversity of metro Chicago’s economy, analyze COUNTY GOVERNMENT CAPACITIES its rich economic assets, and identify Cook County government’s particular opportunities and strategies for moving economic growth capacities and core forward. competencies determine which County- centered regional opportunities it can COUNTY-SPECIFIC ASSETS AND CHALLENGES best impact. Its capacities to influence Not all regional opportunities are equal- economic growth fall into three catego- ly centered in Cook County or relevant ries: its inherent governmental capacities to its people, firms, and communities. The (taxation, regulation, and the provision County’s assets and challenges define of public goods) shape and enable mar- which opportunities are most relevant ket activity; its various offices, bureaus, and most susceptible to its influence. and departments administer economic The Economic Growth Action Agenda development funds or tools (such as is based on a rigorous market analysis property tax abatements); and its po- of the County’s performance in five key sition as a major employer, purchaser, areas: performance of regional clusters; and property owner can be leveraged human capital; innovation and entrepre- to improve workforce quality, local neurship; spatial efficiency; and institu- business growth, and efficient urban tional environment. development. PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 9
  • 10. STRATEGIES FOR PROMOTING GROWTH From the Action Agenda’s detailed The following list of nine is a begin- market analysis, nine priority growth ning. The work that follows to develop strategies emerged. These are intended initiatives will be a next step, and other to align with other recently developed strategies may emerge as the County regional strategies, and will be imple- builds its capacity to support economic mented in partnership with World Busi- growth. The strategies fall into three ness Chicago, CMAP, the Chicagoland general categories: governance, pro- Chamber of Commerce, and others. duction, and support. GOVERNANCE STRATEGIES Businesses will invest in regions with effective institutions, and regional collaboration is essential to successful economic growth strategies. COOK COUNTY GOVERNMENT 3.0 1 Increase Cook County government’s transparency, efficiency, and accountability Businesses look for a good tax-value proposition, which in WHY part rests on effective, efficient government Initiatives to implement this strategy should include: WHAT Open, transparent flexible, adaptive, efficient government that includes technology-enabled policies and processes. Close engagement with citizens and with the civic and private sectors. Expanded collaboration across the County’s elected offices and with municipalities. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 10); ALIGNMENTS CMAP GOTO 2040 (Efficient Governance); OECD Territorial Review (27) 10 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 11. INTERGOVERNMENTAL EFFICIENCIES 2 Increase suburban government efficiency through shared services and centralized capacities Cook County contains 121 municipalities of different sizes, WHY with a wide range of capacities. Duplication of services im- poses costs on businesses and residents. Initiatives to implement this strategy should include: WHAT Resources to identify and help implement service-sharing opportunities among interested suburbs. Technical expertise made available to suburbs that have limited government capacities. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 10); ALIGNMENTS CMAP GOTO 2040 (Pursue Coordinated Investments); OECD Territorial Review (28) STRONG STRATEGIC CAPACITY 3 Increase the region’s capacity for strategic, coor- dinated economic growth initiatives Local economic development tends to focus on “zero-sum” WHY intra-regional competition for firms, and many suburbs have limited economic development capacities. Initiatives to implement this strategy should include: WHAT Capacity for detailed economic analyses and business planning that can support new economic growth initiatives. Shared initiatives across municipalities within Cook County and, ultimately, across County borders. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Implementation ALIGNMENTS approach); CMAP GO TO 2040 (Pursue Coordinated Invest- ments); OECD Territorial Review (28) PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 11
  • 12. PRODUCTION STRATEGIES The production sectors of the regional economy—not retail or real estate—are its primary drivers of growth. MANUFACTURING PRODUCTIVITY 4 Increase the productivity of Cook County’s manu- facturing clusters Manufacturing in Cook County and the region is strong and WHY positioned to grow. In particular, Fabricated Metals and Food Processing employment are 20 percent more concentrated in Cook than in the nation. Initiatives to implement this strategy should include: WHAT Assistance for manufacturing firms that need cutting-edge tech- nologies and workers to operate them. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 1); ALIGNMENTS CMAP GOTO 2040 (Support Economic Innovation); OECD Territorial Review (29) SUPPLIER COMPETITIVENESS 5 Increase competitiveness of anchor institution suppliers Cook County spends $1 billion annually on goods and ser- WHY vices. Improving the productivity and competitiveness of its suppliers, especially SWMBEs, would be good for County government and for regional growth Initiatives to implement this strategy should include: WHAT Small business productivity services tailored for this group. NOT a “buy local” or set- side strategy. a REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategies 2 and 9) ALIGNMENTS 12 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 13. LOGISTICS PRODUCTIVITY 6 Increase the productivity and efficiency of the Transportation and Logstics cluster i Transportation and logistics employs over 140,000 people WHY in the region, 54 percent of whom work in Cook. Trucking is particularly strong in the the County. Initiatives to implement this strategy should include: WHAT Support for existing and planned logistics strategies. Assistance for small trucking companies that need to update their technologies. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 3); CMAP ALIGNMENTS GOTO 2040 (Support Economic Innovation) SUPPORT STRATEGIES Certain key areas “support” economic growth and enable markets. Keeping these healthy creates an environment where businesses can thrive. STRONG PHYSICAL INFRASTRUCTURE 7 Improve the quality nd efficiency of the region’s a transportation infrastructure Businesses rely on the efficient movement of people, goods, WHY and ideas, but the region is now the nation’s third most con- gested—at a cost of $6.2 billion annually. Initiatives to implement this strategy should include: WHAT Improved regional public transit. Congestion management. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategies 3 ALIGNMENTS and 8); CMAP GOTO 2040 (Regional Mobility); OECD Territorial Review (27) PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 13
  • 14. COMMUNITIES THAT CONNECT 8 Support the emergence f dense, mixed-use, well- connected communities o The region has an acute jobs-housing mismatch, and its poor- WHY est areas—many of them located in Cook County—are isolated from economic opportunity. Initiatives to implement this strategy should include: WHAT Mixed-use, high-density development. Affordable housing near job centers and transit. Broadband expansion. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 9); CMAP ALIGNMENTS GO TO 2040 (Achieve greater livability through land use and housing); OECD Territorial Review (18) DEMAND-DRIVEN WORKFORCE 9 Improve the alignment of Cook County residents’ skills with employer demand In Cook County, higher-skilled occupations are growing much WHY faster than jobs for lower-skilled workers. At the same time, 42 percent of residents have a high school education or less. Cook is home to two-thirds of the region’s immigrants, but immigrants in Cook are less likely to speak fluent English or have a college degree. Initiatives to implement this strategy should include: WHAT Employer-driven, targeted training aimed at priority sectors. Tailored workforce training and jobs-matching for the County’s immigrant population. REGIONAL PLAN WBC Plan for Economic Growth and Jobs (Strategy 6); CMAP ALIGNMENTS GO TO 2040 (Improve Education and Workforce Develop- ment); OECD Territorial Review (18) 14 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY
  • 15. COOK COUNTY’S NEXT STEPS This Economic Growth Action Agenda sets the stage for new partnerships, policies, actions, and investments for Cook County. Implementation of the agenda will require the following: 1. FULLY ENGAGE COUNTY GOVERNMENT AND 2. IDENTIFY INITIATIVES THAT SUPPORT EACH OF PARTNERS IN IMPLEMENTATION THE STRATEGIES Acting on these strategies requires the The nine recommended strategies set engagement of all levels of County gov- a direction for the County. Each must ernment and multiple outside partners. be implemented through the adoption The County must: of specific initiatives. The range of possible initiatives is wide: some may Engage people throughout the be modest and require few resources, County’s departments, agencies, and others may be more ambitious and elected offices (as well as and require time, resources, and the municipalities, other governments, development of new partnerships. and civic groups) by informing them A first step in this process is to iden- about the Action Agenda and it tify existing initiatives and programs alignments with other regional eco- consistent with the recommended strat- nomic growth plans. egies, and determine what role the Align the County’s day-to-day work County government and the Council and programs with the strategies. of Economic Advisers might play in This will start with detailed review supporting them. Where there is no by County department and agency existing initiative, the County and the heads to determine how they can Council will have to play a leadership adjust guidelines, criteria, regulatory role in defining a course of action to practices, investments, and priorities move the strategy forward. to support the strategies. 3. SET PRIORITIES AND SELECT INITIATIVES FOR Establish an implementation team ACTION with the skills, resources, and time The County and the Council will eval- needed to work across departments uate the inventory of initiatives and supporting alignment with the strat- select those that they have the capacity egies. The team should also be able to lead or support. A business plan will to measure and monitor progress, be required for those initiatives that the and work effectively with other County will lead. For initiatives that governments and civic institutions others are leading, the County will de- leading initiatives that are part of velop specific work plans to identify the the County’s agenda. resources to be devoted to the activity, and the value that will be realized as a result of their commitments. PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY 15
  • 16. ACKNOWLEDGEMENTS Cook County wishes to thank its Council of Economic Advisors for their leadership, and Metropolis Strategies and RW Ventures for their work in research, analysis, and document development for “Partnering for Prosperity.” Thanks also go to the staff of the President’s Office and the Bureau of Economic Develop- ment, and to The Chicago Community Trust. PDFs of “Partnering for Prosperity: An Econom- ic Growth Action Agenda” and its accompany- ing Executive Summary can be downloaded at: http://blog.cookcountyil.gov/economicdevelopment/ growth-strategies 16 PARTNERING FOR PROSPERITY: EXECUTIVE SUMMARY