Economic development practitioners are known for continually “taking stock” of their community, and discussing this along stakeholders, both political and economic. The scorecard layout used in the PowerPoint presentation described here expedites its use as both an orientation piece for stakeholders and a concise way of evaluating economic development conditions affecting the community. Six common themes are shared across three levels of geography: the state, the surrounding economic region of which the community is a part, and the community itself.
Although the material can be easily modified, there may be some advantage to using it essentially intact, as an “outsiders” view of issues commonly worthy of attention. A companion worksheet, “ED evaluation automated scoresheet” has also been prepared as a companion piece. The sample slide presentation and worksheet are provided below:
Scorecard for economic development organizations
Purpose/intent of this scorecard
Intended for local-area economic development organization/department
Scorecard format: Each line item for each area is scorable for point in time, based on level of “cause for concern”
Summary of high-level potential competitive challenges and opportunities
Reminder of how outsiders will build up a perception (although modifiable, template is externally sourced, with arms-length topical focus)
Help inform ongoing strategic planning processes
Sharable with decision-makers, as appropriate
Topics: Conditions by geographic unit – state, region, and locality
Physical conditions
Political-philosophical positions, generally and specific to economic development
Strategic positions
Economy
Workforce
Popular sentiment
State
Physical conditions
Location: access to markets, materials, labor
Vulnerability to natural hazards
Vulnerability to human development hazards
Political-philosophical positions
Scale of inclusiveness/embrace of change*
Strategic positions
Statewide ED policy: presence, quality
Strategic incentives, compatible with legislative positions
ED support agency: presence, strength, and level of engagement
Economy
High-employment sectors** exist due to competitive advantages, rather than shortfall in economic diversity
Exporting sectors may be susceptible to contraction
Due to automation
Due to anticipatable business decline
Workforce
People coming into workforce have adequate range of opportunities
Education and training resources are at or above average
Popular sentiment
General public engagement in ED issues at statewide level:
ED implications of public policy are communicated/understood
Working population is involved in ED-related policy decisions
*For example, do legislative measures reflect a future-oriented, planetary perspective, or nostalgia for the past and “local first” mentality.
**Proportionately high, indexed to US sector mix.
Region
Physical conditions
Location: access to markets, materials, labor – relative to rest of state or other neighboring regions
Vulnerability to natural hazards
Vulnerability to human development hazards
Political-philosophical positions
Dominant industry(ices) does not unduly influence policy
Strategic positions
Coordination throughout region
Strategic incentives: presence and applicability to locality
Regional ED organization: presence, strength, and engagement
Economy
Regional economic base aligns with or otherwise complements local economy
High-employment sectors** exist due to competitive advantages, rather than shortfall in economic diversity
Exporting sectors susceptible to automation or general decline
Workforce
People coming into workforce have adequate range of opportunities in region
Education and training resources in region are accessible to local residents
Popular sentiment
Regional stakeholders’ ED influence is distributed throughout region, including locality
[Community X]
Physical conditions
Location: access to markets, materials, labor – relative to surrounding or other neighboring regions
Vulnerability to natural hazards
Vulnerability to human development hazards
Political-philosophical positions
Dominant industry(ies) does not unduly influence policy
Strategic positions
Current, documented
Comprehensive
Strategic incentives specific to locality
ED organization: presence, strength, and local commitment to
ED roles coordinated among local organizations
ED roles coordinated with regional organizations
Economy
Local-serving businesses are appropriately represented for community size, etc.
Export sectors are appropriately diverse
Business-support activities are available locally
Local jobs and local resident workforce are reasonably aligned
Infrastructure for existing/targeted businesses is available or feasible and planned appropriately
Exporting sectors susceptible to automation or general decline
Workforce
People coming into workforce have range of opportunities realistic for the community
Education and training resources are reasonably accessible to local residents
Popular sentiment
ED implications of local policy decisions are communicated/understood
Working population is involved in ED-related policy decisions
Sample Scoring Image
