CREDC begins work on new regional economic development plan
The Columbia River Economic Development Council (CREDC) recently announced the hiring of TIP Strategies, an Austin-based consulting firm, to begin work on a new strategic plan for Clark County – the county's first comprehensive strategic review in nearly a decade.
Along with its 130 public and private stakeholders, CREDC said it’s pursuing the planning effort “to focus and prioritize the region’s economic development activities based upon changing trends, new technologies and industries.”
"We are pursuing a fresh strategic plan to help position nour region for the next waves of opportunity in attracting private investment and employment to the region," added Bart Phillips, CEO of CREDC. "Every so often it is essential to take a step back and assess how we can make the biggest impact for our investors and community."
TPI strategies comes in with sizable experience in the Pacific Northwest. Most recently, the firm worked with the Cowlitz County Economic Development Council (CCEDC) to develop a strategic review there. Ted Sprague, president of CCEDC, said he was extremely pleased with the results.
“For the past few months, I’ve been getting very favorable comments from people when we talk about what we’ve learned [from the strategic review],” said Sprague. “I’m very happy with what we’ve received.”
In addition to gathering data and reviewing community assets, TIP Strategies will interview several business and community leaders throughout the planning cycle. The project is underwritten by the Clark County Board of Commissioners through moneys generated by the Industrial Revenue Bond Public Corporation. CREDC calls it “a case of economic development funding economic development.”
Should the results of the strategic review call for drastic changes, CREDC said it stands ready to make them. Given the tough economy and high unemployment, the organization said now is a critical time to sharpen Clark County's strategic focus.
"Given the dramatic impact the economic downturn has had on our regional economy, we believe it's critical to assure that every economic development dollar invested in this region is focused on achieving the greatest possible return on investment," said Bart Phillips, president of CREDC.
Sprague echoed that statement, explaining that recession is a critical period when it comes to renewing your strategic plan.
“Now is the time to do things like this,” he said. “Take a look at what you’re doing right and what we’re doing wrong and go from there.”
TIP Strategies expects to have its work completed in the second quarter of 2011, and to report their findings to the public by June 2011.
