Hip Real Estate Does Not An Economy Make
Erin Flynn, Economic Development Director of the Portland Development Commission, made that comment at the recent Portland Leadership Summit’s breakout session on Economic Development and Prosperity.
Ms. Flynn said that Portland economic development faces two challenges: the need for new development tools, and institutional fragmentation. She noted that while the city has good tools for development, they are place-based and real estate-dependent. She argued for creating complementary economic development tools that will encourage entrepreneurship and micro business development. She also suggested making manufacturing more visible and cautioned that as we develop the city, we not displace profitable businesses from their current locations.
Ms. Flynn also believes that accountability for economic development is spread too thin over many city agencies. Good ideas can languish or get lost in translation when one agency is responsible for developing an idea but another agency is responsible for implementing it. Ms. Flynn suggested that the city must systematically coordinate economic development resources and activities across bureaus in order to improve delivery and impact as well as identify remaining gaps.
For someone who's been arguing that the city spends too much time boasting about sustainable development and not concentrating enough on developing a sustainable economy - of which sustainable development is a vital component (see blog post November 27, 2007) - I welcome Ms. Flynn’s point of view.
