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E-Newsletter

July 2010

www.ncwedd.com

Links

CEDS Document

Review the Comprehensive Economic Development Strategy

Sustainable Oroville

Click here to learn more

Washington State Dept. Of Commerce

Learn more about international trade and Economic Development

Mission

To promote diversification and development of existing and potential economic opportunities that enhance the stability and future of the NCW region.

Vision

The North Central Washington Economic Development District will be characterized by a vibrant and diverse economy.

Guiding Principles

· We recognize the importance of maintaining rural lifestyles and enhancing the quality of life.

· We value the preservation of unique and significant natural and cultural resources, and respect diverse cultures.

· We encourage participation of all citizens and consensus-based planning and recognize that success requires a long-term commitment.

· We value the importance of understanding our regional economy and using that to shape the future.

· We believe partnerships expand opportunities.

· We encourage sustainable economic development, believing that the integration of community, economy and environment is key to success.

· We play a leadership role for regional economic development in the region.

· We believe in building on our strengths, supporting the maintenance and preservation of existing business and infrastructure.

Contact Us!

Jennifer Korfiatis

NCW EDD Director

PO Box 1064

Wenatchee WA 98807

jennifer@ncwedd.com

(509) 682-6907

Welcome!

Welcome to the July edition of the NCWEDD e‑newsletter. This edition is packed with great economic information that we hope you'll find useful. Mark your calendars! The next NCWEDD membership meeting is set for Wednesday, July 14 at 8:45am in the Chelan Fire Station. Hope to see you there.

U.S. Job Growth Driven Entirely by Startups,
According to Kauffman Foundation Study

For policymakers who are focused on jobs, jobs, jobs, a new Kauffman Foundation study has the answer: startups, startups, startups.

When it comes to creating new jobs, startup companies are the source, according to the study titled The Importance of Startups in Job Creation and Job Destruction.

The study bases its findings on the Business Dynamics Statistics, a U.S. government dataset compiled by the U.S. Census Bureau that tracks the annual number of new businesses (startups and new locations) from 1977 to 2005, and defines startups as firms younger than one year old.

Read more about this study of job growth and destruction patterns at both startups and existing firms.

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Sustainable Oroville

The Sustainable Oroville site (www.SustainableOroville.com) came about after proactive conversations with local citizens and community leaders who understood the beneficial results that would be obtained by bringing in sustainable hospitality and industry to Oroville. The goal of the site is to give a visual presentation for the ever-growing list of interested parties that a community is still capable of creating their own sustainable financial solutions. The site became even more community minded with the completion of recommendations made by residents of the area to include local and regional business that currently support the region.  Creators of the website will be presenting at the NCWEDD meeting on July 14.

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Entrepreneurship in North Central Washington

The North Central Washington Economic Development District is pleased to announce the completion of a comprehensive feasibility study designed to examine the needs of, and potential for, entrepreneurship and innovation in the three-county region. Specifically, this project examined the need for education/training, networking, mentoring and resources in terms of entrepreneurship and innovation. This study included a mailed survey to a database of 6099 registered businesses in the region, as well as an electronic version that was circulated to the distribution lists of 13 partner organizations. A total of 711 responses were collected, and the results can be reviewed on the NCWEDD’s website by clicking this link: http://www.ncwedd.com/newsroom.htm
	Save the Date! A Washington Small Business Forum will be held on July 22 at the Red Lion Hotel in Wenatchee. The event is sponsored by the US Small Business Administration, USDA Rural Development, Washington Small Business Development Centers, and the Federal Reserve Bank of San Francisco. Financing is an essential component of a successful business in times of both economic vitality and slow growth. Expert advice is also invaluable to help businesses make prudent decisions. This workshop is designed to provide information on both conventional and government lending programs, and organizations that are available to provide technical assistance to small businesses and entrepreneurs. To Register: http://www.frbsf.org/community/resources/2010/0720/index.html I.        Welcome, Introductions II.        Opening Remarks  III.        Current Challenges Facing Small businesses (facilitated discussion) IV.        Local Technical Assistance  V.        Financial Institutions  VI.        Next Steps (facilitated discussion) VII.        Adjourn

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Washington State export opportunities

Governor Chris Gregoire recently announced a new state export initiative designed to open additional export opportunities for Washington businesses and create jobs. The initiative complements the National Export Initiative, President Obama’s ambitious plan to double the nation’s exports by 2015, and commits Washington State to working with the US Department of Commerce as it implements the federal initiative.

“As one of the nation’s leading exporting states, Washington State has the ability to act as a testing ground as the US Department of Commerce develops new programs to move the National Export Initiative forward,” Gregoire said. “Washington is the gateway to Asia, and those trading partners have not been hit as hard as other areas around the world. We need to continue to increase our efforts to reach out to those trading partners. When our companies have more opportunities to do business, they can expand and create more good jobs for our communities.”

Over the next five years, Gregoire expects the state export initiative to increase the number of Washington state companies exporting by 30 percent and help 5,000 Washington businesses achieve $600 million in new export sales.

“Increasing the export of American products and services to global markets can help revive the fortunes of U.S. companies, spur future economic growth and support jobs in the U.S.,” said U.S. Commerce Secretary Gary Locke. "I applaud Governor Gregoire and Washington State for partnering with us on the National Export Initiative, and look forward to working with the State."

Gregoire’s 6-point plan includes:

         Working as partners with the U.S. Department of Commerce to identify new opportunities for our businesses, serving as a pilot state for “field testing” new programs and tools the federal government develops as a part of the National Export Initiative;

         Directing the Community Economic Revitalization Board (CERB) to dedicate $3 million in funding toward export counseling assistance to companies seeking to export for the first time;

         Implementing a “Farm-to-Market Initiative” to reward ambitious and achievable proposals to enhance the competiveness of our agricultural enterprises in the global marketplace. It will ask nearly 20 existing state programs to compete for development funds, ensuring we make the most promising investments in this important industry;

         Enhancing our standing as a destination for foreign students who invest in our economy through tuition, lodging and entertainment and encourage Washington students to study abroad; and

         Strengthening and expanding relationships with overseas trading partners. This September, Gregoire will lead a trade mission to Asia to visit the World Expo in Shanghai, stop in other Chinese cities and visit Vietnam, an emerging market for our companies.

         Engaging with the federal government to ensure a fully-funded federal transportation reauthorization act that includes a national freight program aimed at infrastructure investments that enhance our ability to efficiently move goods.  This program would match the commitment the state has already made on projects such as the Columbia River Crossing in Vancouver, the North Spokane Corridor, which directs freight to Canada, and the SR 519 project serving the Port of Seattle.

Gregoire announced the state export initiative at the Port of Seattle Headquarters along with Department of Agriculture Director Dan Newhouse and Commerce Director Rogers Weed.

“We already export a broad diversity of Washington-grown food products to consumers around the world,” said WSDA Director Dan Newhouse. “The Governor is offering our industry an opportunity to increase these exports, expand our industry and increase jobs, especially in rural communities, with products from apples to wine and oysters to wheat. Working with our resourceful, innovative farmers, ranchers and food processors, we can meet this challenge.”

“Taking the lead among all states with this early commitment to the National Export Initiative is good for Washington because it builds on our core strengths,” said Washington State Commerce Director Rogers Weed. “Expanding opportunities for our state’s current exporters will generate growth in the near term, while future sales and jobs will come from a new focus by the Small Business Development Centers and other key partners to find and help some of the 96 percent of other Washington companies reach international markets with their products and services.”

With 8,000 Washington companies currently exporting, the State is the largest U.S. exporter on a per capita basis. Approximately four percent of Washington companies export, compared to a national average of one percent.

For companies seeking export assistance, Washington’s Department of Commerce has set up a dedicated email account to answer your questions. Contact them at trade@commerce.wa.gov.

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Welcome Dayla Culp! We are pleased to welcome Dayla Culp to the EDD and RC&D team. Dayla joins both organizations as a shared Administrative Assistant, and after only one month, is quickly getting up-to-speed. To contact Dayla, feel free to email her at: rcd@communitynet.org