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South Dakota Rural Enterprise Opportunity Roundup - economic development report card

I am looking for feedback on what people are doing to provide an economic development “report card” of sorts both to board and members, as well as, the community. Any great ideas I can look at?
  • See www.cfed.org for the 2007-2008 Assets and Opportunity Score Card.

  • Tell the stories, not the theories!

  • We use several methods for reporting to our board, legislators and community.

    • Our quarterly newsletter helps us stay in front of people with stories about our clients, partners and anything else we want them to know, the annual report gives statistics, progress on initiatives and success stories.

    • The board also gets statistical information in more detail on a quarterly basis. The statistics include demographics, number of new clients, referral sources, launches, funding raised by source for clients and a variety of other metrics. We have a database that follows our work process and it allows us to track any data related to where clients are in the process and how their company is progressing. For instance, we know how many are working on intellectual property issues, economic intelligence, financial analysis or projections, business plan writing, presentations for angel investors, and how many are doing homework and when it is due.

    • We also consider our website as a valuable tool to communicate. We keep newsletters, annual reports, press releases and events on our site so they are easy to access.

    • You can find our website at www.sdei.org if you want to see examples of what we do for the public.

  • If you go to www.lylescenter.com and download the Innovation Economy Agenda (full report has the metrics), you will see a pretty comprehensive study of the Central Valley in terms of intellectual property, entrepreneurship, and capital over 10 years. The report is an index that will be upgraded each year to provide a method for tracking progress in the region. The report has had a very positive impact. Indeed the area EDC which has worked off of an attract-and-retain model of economic development is now switching to a model of developing and growing an infrastructure that will support entrepreneurial behaviors. Also on the website is the Mayor's Creative Economy report which outlines a strategy for attracting and retaining knowledge and creative workers.
 

Opportunity
Roundup

629 S. Minnesota Ave.
Suite 201
P.O. Box 2282
Sioux Falls, SD

ph 605.978.2804
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