EDC Hires Existing Industry Manager

Sharla Austin-Darnell has been hired as the new Existing Industry Manager at the Greater Owensboro Economic Development Corp. Prior to coming to EDC, Austin-Darnell served as the Existing Industry Manager at the Madisonville-Hopkins County Economic Development Corp., where she served as the Interim-President since February. Prior to working in economic development, she has served as the Executive Director for the Madisonville-Hopkins County Convention and Visitors Bureau. She has a bachelor’s degree from Murray State University and is currently working toward a master’s degree at Murray State.

"Sharla brings several years of experience in working with existing businesses and has run a quality program in Madisonville," said EDC President/ CEO Nick Brake. "She has worked closely with the Kentucky Cabinet for Economic Development and understands many of the issues that impact economic development. She will fit in well with the existing team at the EDC."

Madison Silvert will assume the title of Executive Vice President while continuing to serve as the director of the Emerging Ventures Center and coordinating EDC efforts in high tech development and entrepreneurship. Becky McCubbins will continue to work with marketing and new business development and assume the title of New Business Development Manager.

Jennifer Wright, the EDC Executive Vice President, who handled the existing industry program since November 2007, is relocating to Savannah, GA, where her husband has accepted a job.

EDC a Partner in the 26-County Regional Economic Summit

EVANSVILLE, IN– The Greater Owensboro Economic Development Corp. will join business and government leaders from Illinois, Indiana, and Kentucky in Evansville on November 20 and 21, 2008 to study the new economic model of future growth. The 2008 Regional Economic Summit will feature nationally-recognized business experts and economists who will discuss the current economic climate and realities facing a 26-county region, as well as outline the steps necessary for prosperity, wealth creation, and economic vitality in the 21st Century.

"Our global environment requires us to think regionally to be competitive in the future," said EDC President/CEO Nick Brake, a member of the steering committee.

“Each community in our three-state region faces the same economic realities,” said Kevin Sheilley, President & CEO of Northwest Kentucky Forward, a public-private economic development partnership that serves Henderson, McLean, Union and Webster counties. “We share a common workforce and have identical infrastructure challenges, and we believe it is possible to develop solutions which can be replicated in each state.”

Kicking off the summit is Rich Karlgaard, publisher of Forbes – the world’s most popular business and financial magazine. Karlgaard writes Digital Rules, a regular Forbes column, which discusses technology, entrepreneurship, regional and economic development, and the future of business and work. He frequently guests on the Fox News Channel’s Forbes on Fox and has written a Wall Street Journal best seller – Life 2.0 How People Across America Are Transforming Their Lives by Finding the Where of Their Happiness.

University economists from each state led by Dr. Mohamed Khayum, Dean of the College of Business at the University of Southern Indiana, are collaborating to develop a regional economic model which will establish the foundation where opportunities for the 26-county region will be identified.

“Evidence suggests that the significance of previous drivers of economic growth such as natural resources and physical capital is being replaced by human creativity and that creativity propels economic growth,” stated Dr. Khayum.

Attendees will have the opportunity during the two-day summit to participate in general and break-out sessions dealing with entrepreneurialism, regional collaboration, building stronger economic development strategies, and alignment to the emerging world economy. The final summit agenda is being developed in cooperation with regional advisory councils from each state.

Founding sponsors for the 2008 Regional Economic Summit are Old National Bank and Regency Properties. Lead sponsors of the event are the Richland County Development Corporation (IL), Greater Owensboro Economic Development Corporation (KY), Northwest Kentucky Forward (KY), Chamber of Commerce of Southwest Indiana (IN), and the Economic Development Coalition of Southwest Indiana (IN).

For registration and more information about the 2008 Regional Economic Summit log onto http://www.regionaleconomicsummit.com/ or call 812-463-6102.

EDC, Learning Community Form Partnership for P-16 Council

The Greater Owensboro Economic Development Corp. and The Learning Community have formed a partnership for continued support of the Regional Alliance for Education, the Owensboro area P-16 Council.

The Regional Alliance, which brings together leadership from area school systems, colleges, universities, early childhood, adult education, and workforce development with representatives from the business community each quarter, is one of the first and most active P-16 Councils (preschool through college/ grade 16) recognized by the Kentucky Council on Postsecondary Education.

Helen Mountjoy, former Executive Vice President of the Greater Owensboro Economic Development Corp. served as the Executive Director of the Regional Alliance until departing for Frankfort in December to serve as Secretary of the Education Cabinet for Governor Beshear. Dr. Fred Reeves served as the Interim Executive Director from January until May.

Tracy Marksberry, the Executive Director of The Learning Community will oversee all Regional Alliance programming with financial support from the EDC under the new partnership.

The EDC and Learning Community will advance a plan of work for Regional Alliance programs that will be released in more detail later in the year. The agenda will focus on the following three broad areas:

1. Building a strong foundation through early childhood education and literacy initiatives such as the Imagination Library;


2. Preparing high school students for 21st century success with emphasis on increased access and improved preparation for postsecondary education;


3. Developing a 21st century workforce, emphasizing life-long learning, internship programs, and increased opportunities for students to earn bachelor's and graduate degrees in Owensboro.
   

"Nearly all jobs of the future will require some postsecondary education," said EDC President/CEO Nick Brake. "The EDC, the Learning Community, and the Regional Alliance for Education will take the lead to champion higher education attainment by providing a consistent, unified voice to promote these goals and by supporting and implementing strategies for our region to GO-Higher"

The Learning Community is a grass-roots initiative to increase educational opportunities for residents of the region. The office is located at the Greater Owensboro Economic Development Corp. Watch the Learning Community video here.

Nadira Hira speaks about Gen Y challenges in the Owensboro region

This week the Green River Workforce Investment Board (WIB) hosted a luncheon, co-sponsored by GO-EDC, featuring Nadira Hira speaking on the Generation Y workforce. Hira is an award-winning journalist and general assignment writer at Fortune Magazine, where she has focused increasingly on stories for and about Generation Y, the fastest growing segment of the American workforce.

Generation Y refers to individuals born between 1978 and 1994. In the next several years, they are expected to outnumber all other segments of the workforce. The retirement of the boomer generation, which officially began this year, will trigger a worker shortage that Generation X, which comes behind the Boomers, will be unable to fill. Businesses are realizing that they may have no choice but to accommodate the unique and curious aspects of the Gen Y creatures.

Hira spoke to the audience about many of the challenges that businesses face in recruiting, retaining, and supervising this important demographic group. Her blog at Fortune.com is full of the same points. Members of Gen Y are looking for meaningful work; they are particularly influenced by technology which often makes them more productive than their predecessors despite the fact that they spend less time working in a traditional office setting.

It struck me, as I looked around the room how evident the need to reach out as a region to this group-- the community in general is not connecting with Gen Y.

Greater Owensboro has an opportunity to correct this with a couple of key steps. The first step is to conduct a real evaluation of the strengths and values of the community relative to the Gen Y group. The current branding campaign is an opportunity for the region to appeal to the Gen Y audience as an authentic community providing meaningful work and meaningful play.

Secondly, the region should have a plan to become a destination for Generation Y. This is where the overall strategy to attract people with attractive places, known as place making, come in to play (click here for more information). Lastly, the community must figure out how to engage this younger generation as community leaders. Not only will Gen Y fill a majority of the jobs in the workforce, they will be assuming leadership roles in corporations and communities much sooner than their predecessors.

The last step is a missing link. The Chamber Young Professionals is an active group of Generation Y members which could play a key role in shaping this for future of their generation and the vitality of the region. Are we ready to pass the torch?

Please visit the following links to read more about Nadira Hira:
http://www.timeinc.net/fortune/information/presscenter/fortune/bios/FOR_Hira.html
http://thegig.blogs.fortune.cnn.com/
http://money.cnn.com/magazines/fortune/entrylevel/2007/index.html

Hines Group Consolidation and Expansion Creates an Opportunity to Market 150,000 Square Foot Building in the Airpark

The Hines Group plans to expand its Premium Allied Tool plant in Philpot so it can consolidate operations there with its Owensboro Manufacturing plant. The move in-and-of-itself is good news for the community because of the jobs and the important role this firm has played over the years in our regional economy.

This consolidation will also lead to an opportunity to market the 152,000-square-foot Owensboro Manufacturing plant and its 25 acres in the Mid America Airpark.

The building, originally constructed in 1998 with an addition in 2002, was designed for metal
fabrication manufacturing and has been used for that purpose for the past 10 years. The building
is constructed of steel framing, steel siding, and low pitch gable roofing, with a brick finish
identifying the primary administrative portion of the facility. The manufacturing and production
areas of the facility are approximately 140,000 square-feet, and the remaining approximate 12,000 square-feet is designed for clerical and administrative use. Because of its design and construction, this building offers considerable versatility and changes can easily be made to accommodate the precise needs of a variety of manufacturing, warehousing, or distribution organizations.

The manufacturing and production areas of the building have concrete floors, some 12” thick. The walls are 8’ steel sandwich and unfinished, and the ceilings are 22’ CH to eaves with vinyl faced insulation. There are eleven (11) loading docks, sizes 30’x50’ typical, 60’x50’. Sodium vapor and some metal halide lighting illuminates this area of the structure. This area includes second level office space, several specialty production rooms, a large break room,
multiple restrooms, and adequate closet space. The warehouse and manufacturing areas, like the office areas, offer complete climate control with air conditioning andheating systems.

For more information about the Owensboro Manufacturing Building please visit the following link: http://edc.owensboro.com/documents/PropertyBrochure-OM.pdf

“Coworking” places for the budding entrepreneur in Owensboro

Two locations in Downtown Owensboro, The Creme` and Emerging Ventures, are part of a cutting edge contemporary model for job creation. Here’s how:

A majority of big businesses come from small businesses, and small businesses are started by entrepreneurs... from their homes. But there are limitations to working from home, no human interaction, no place for meetings, no escape from spending most of your life at home.

"Coworking" sites are an emerging trend for a new pattern for working. Typically work-at-home professionals, independent contractors, or people who travel frequently end up working in an isolated way. Wikipedia calls coworking "the social gathering of a group of people, who are still working independently, but who share values and who are interested in the synergy that can happen from working with talented people in the same space." (http://en.wikipedia.org/wiki/Coworking)

Often times, coffeehouses with free WiFi have become preferred locations for coworking. Starbucks has found enormous success as a "third space" attracting this type of activity. In addition to Starbucks, Owensboro has two new downtown locations that are attractive "third spaces" for professionals or independent contactors to gather, both have free WiFi and a creative atmosphere found in larger urban areas. The Creme,` located on Second Street, is the new downtown coffeehouse that opened last week. The free WiFi, comfortable atmosphere, and good food and coffee will be a hit, especially when the outdoor courtyard opens just in time for the nice weather.

The second location is the Emerging Ventures Center on the third floor of the Commerce Center on Third Street. The Center, which is linked to the Kentucky Innovation and Commercialization framework and hosts the Owensboro Small Business Development Center and SCORE, has ample space for entrepreneurs to meet and work with free WiFi, a high-tech conference room and ample resources, including business counselors ready to assist.

As the community-wide "Place Making" strategy begins to develop, look for more opportunities to promote "coworking" and third spaces such as The Creme` and Emerging Ventures.

For more information about "coworking" please see the following links: http://www.cooltownstudios.com/mt/archives/001002.html, http://www.cooltownstudios.com/mt/archives/001273.html

Recruitment of Entrepreneurs, Day 2

By Madison Silvert, EDC Vice President for Entrepreneurship and High Tech Development

Chicago-- It is Day 2 here in Chicago.  Today I had the opportunity to attend a panel at the Chicago Graduate School of Business on what make entrepreneurs tick.  The panel consisted of multiple entrepreneurs, some of which were graduates of the Chicago GSB-- all very successful entrepreneurs.

Interestingly, what I learned very much validates the EDC placemaking initiative.  One of the panelists, Chris Gladwin, the founder of Cleversafe, talked about his latest venture and how he lured talent to his company.  In the software engineer field, a market where a top notch engineer can earn north of six figures a year, Chris was able to lure employees to work for him for nothing more than company equity.  The second year, he was able to pay them half of the market rate, and then eventually pay the market rate.  The idea was to ensure that his employees would be as passionate about his company as he was.  This approach for attracting talent is becoming more and more common, and it demands that, if an employee is going to take a risk by working for your company, that the employee has an attractive place to live.  It is much easier for Chris to use this tactic in a thriving area like Chicago, and would be much more difficult in a community that had limited lifestyle opportunities.  It is clear to me, now more than ever, how important the placemaking initiative is and how it ties not only to economic development, but to recruitment of industry.  Making Owensboro an attractive place to live makes it much easier for employers to attract talented people who value a quality of life that is safe, affordable and fun. 

Following the panel, I was able to meet with several Chicago GSB students about the unique support structure we have for them in Owensboro, and I was able to meet with one individual that is already interested in incubating a business here, much in the way Agent511 has chosen to do.  All in all, Chicago is proving to be fertile ground for entrepreneurial recruitment.