Regional economic effort key, officials told

EVANSVILLE, Nov 22, 2008 - In the past five years, the counties surrounding the Memphis, Tenn., area at the junction of Tennessee, Arkansas and Mississippi have begun working together to market the region's work force and amenities.

The cooperative approach of the Memphis Regional Economic Development Council has allowed 52 counties across three states to attract automobile plants and other economic development boosts when in the past the areas had worked alone.

Sharon Younger, an economic development consultant who worked with the region, told a group at the Regional Economic Summit on Friday that she sees similarities between the broader Memphis region and the three-state area of Kentucky, Indiana and Illinois, and some of the same potential.

Before establishing the council, economic development officials "couldn't see past state lines," Younger said.

Younger, who is president of the firm Younger Associates, and other speakers focused on a more regional approach to economic development on Friday at The Centre here, where economic development departments, municipal staff and elected officials gathered for the two-day summit.

Jody Wassmer, president of the Greater Owensboro Chamber of Commerce, said he saw a lot that this region could borrow from the Memphis model.

"Here, we have various examples of chambers and economic development organizations working together in Kentucky, Indiana and Illinois but very little cooperation across state lines," Wassmer said. "They've crossed that bridge, and I believe we can learn from what they've accomplished."

Mark James, founder and CEO of consulting firm ED Solutions, said regional economic partnerships crossing state lines are becoming more common.

During one of the summit's breakout sessions Friday, James pointed to the Texoma Regional Consortium -- a group formed of counties that border each other in Texas and Oklahoma that realize the shared work force between the areas in the two states.

Younger said work on the Memphis council began with an in-depth study of the workforce in the entire region that allowed the larger area to present a more in-depth picture to businesses looking to locate there.

Nick Brake, president and CEO of the Greater Owensboro Economic Development Corp., said he wasn't sure he saw one large economic development agency emerging from this week's summit.

But Brake said he did see increased collaboration when it comes to understanding the regional work force and cooperation between educational institutions.

"The reality is that our market, our labor market, includes (Vanderburgh, Ind.) County, it includes Henderson County, it includes the 30-mile radius," Brake said. "Site selectors ... look at our labor market as being 450,000 people."

Owensboro Finance Director J.T. Fulkerson said he was encouraged throughout the summit to find that Owensboro and Daviess County were already moving forward with some of the initiatives touted by consultants and those in the economic arena.

But there will need to be a willingness to be aggressive with those initiatives, Fulkerson said.

"It's about innovative thinking and not being scared of changes," Fulkerson said. "You can't be sitting back and just say, 'I'm happy to change.' You've got to be aggressive."

The city and local business groups have already begun the process of developing a brand for Owensboro and Daviess County, and the work on that branding is expected should be shared with the community in the next several weeks.

Eric Stavriotis with Jones Lang LaSalle, a strategic consulting firm, said that in his work as a site selection consultant, branding is important, but shouldn't be so broad as to lose its meaning.

"Branding yourself has to take a look at the assets you have in your community," Stavriotis said during another breakout session.

Younger also mentioned branding, and particularly how Marion, Ark., began tying itself in to the Memphis community as part of the regional council's work. Northwest Mississippi also established its Mississippi Memphis Metro council to help tie in to the Memphis area, Younger explained.

Stavriotis said a brand can help tell businesses just what a community has to offer.

"Brand the heck out of it," Stavriotis said.