Small Group #2: Diverse and Prosperous Economy and Quality of Life in Treasure Coast Communities

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Small Group Members :
Austin, Bowden, Lannon, Minton, Ranieri, Richey, Stinnette, Whittles, Bush, Root, Vaday

Vision Goals:

  • Promoting a business environment that balances collaboration with competition and supports re-invention and risk taking.
  • The Treasure Coast will develop an understanding of the positive role and impact of a diverse economy and businesses on the quality of life in communities and the prosperity of citizens throughout the region.

 

Small Group Question 1:

How can the region promote a business environment that balances collaboration with competition and supports re-invention and risk taking?

Small Group Draft Objectives

  • Develop a marketing campaign involving major regional assets/institutions (Harbor Branch, IFAS, USDA, FAU, IRCC) to promote the Treasure/Research Coast.
  • Identify our strengths and decide what we really want to pursue. Capitalize on what we have now.
  • Identify the region’s economic development infrastructure needs and develop strategies to meet the identified needs.
  • Create a five-year regional economic development plan involving local governments and the private sector with action plans and measurements.
  • Develop a formula for cost-sharing and benefit-sharing among the counties.
  • Review and revise comp plans to make sure land use patterns support economic development.
  • Encourage all 3 counties to include a ED component in comp plans that supports a regional approach.
  • Educate the public on the possibility of industrial development compatible with the high quality of life in the region.
  • Formalize and fund an economic development effort with the three counties plus Okeechobee County .
  • Analyze and provide public incentive funding for economic development needs in the region.
  • Seek legislative funding (through the TC legislative group) to increase “closing incentives.”
  • Capitalize on our location and transportation facilities advantages to attract and develop distribution centers.
  • Build a world class university for the region to attract and retain high wage businesses and workforce. (Fortune 500 companies want to see a quality university)
  • Develop a model for funding industrial parks in the TC region
  • Identify appropriate locations for industrial development in the TC region.
  • Attract a mega-yacht port and related business

Plenary Discussion Comments, Concerns and Suggestions- 5-6

  • Venture Capital and entrepereuship should be included/added
  • H – include more than education – involve the various interests – create public support for
  • Provide economic impact analysis
  • H, N, O – specify economic development vs industrial
  • E - cost sharing is a new idea
  • F - comp plans and land use patterns need to be consistent with the broader vision
  • Better funding strategy for teachers
  • Better terminology for industrial that conveys concept of contributory
  • I – include appropriately or adequately fund
  • The charge from the Governor did not include Okeechobee (I)
  • There maybe other incentives besides funding (J) (see J in first group)
  • We do ourselves a disservice if we don’t consider Okeechobee.
  • Other bordering counties have an impact i.e. Palm Beach and Brevard.
  • The focus of the process is the three counties but there maybe issues that overlap with other counties
  • Recommend a dialogue with neighboring counties like Okeechobee
  • M – focus on the entire lifetime of learning
     

Small Group Discussion Comments 8-5

  • Build on the TC asset of an educated, bi-lingual workforce asset to compete in some businesses,
  • We need higher paying jobs to keep and attract people.
     

Small Group Question 2:
How will a diverse economy and businesses contribute to the quality of life in communities and the prosperity of citizens throughout the region?

Small Group Draft Objectives

  • Develop strategies such as diversification for ensuring the future of agriculture in the Treasure Coast region.
  • Expand USDA lab and become a leader in aqua culture
  • Establish a St. Lucie County Research and Education Park on Pruitt Research Blvd.

 

Plenary Discussion Comments, Concerns and Suggestions 8-6

  • Arts and culture are missing
  • More of a focus on Indian River County in all the discussions
  • Businesses in a thriving economy contribute to the non profit agencies in a community
  • Economic diversity creates and requires intellectual infrastructure
  • There are tax benefits to new businesses
  • Economic diversity stimulates more infrastructure, more services, etc
  • A healthy economy creates a healthy community and lowers public health care costs for indigent care etc.
  • “Recession resiliency”

Small Group Discussion Comments from 8-5

  • Even if we don’t attract fortune 500 companies, we need to make sure our economy is strong enough to keep our residents and children here.
  • We need to build on what we have now.