Discovering and applying new and innovative economic development tools, models, policies, and programs
Creating Jobs and Wealth in Distressed Michigan Communities
The REI University Center has identified the following topics for possible co-learning plans in 2016. To submit an application or to learn more, please visit http://www.reicenter.org/surveys/2016-call-for-authors/
The deadline for all applications is Monday, December 27, 2015. Please direct questions to Ms. Jennifer Bruen at bruenjen@msu.edu or 517-353-9555
As the governor's Regional Prosperity Initiative heads toward its third year, regional decision-making in Michigan is on the rise. It may be reasonable to ask, "Will some economic development funding decisions move from Lansing toward these RPI regions?" This Co-Learning Plan would explore the models that exist for regional tax base sharing using regional decision-making bodies like those represented by the Regional Prosperity Initiative. Apply Now!
A Social Impact Bond is a contract with the public sector in which private sector makes a commitment to pay for improved social outcomes, such as job creation and unemployment reduction, which would result in public sector savings. Social Impact Bonds could be used by DDA's and TIF's to capitalize economic development. The bonds would be paid off through payments made to the DDA/TIF/EDC's, where they can positively identify where the jobs created by an economic development project went to unemployed persons who would no longer need public subsidies. This model strengthens accountability in publically funded economic development and could bring additional resources to community economic development organizations. This Co-Learning Plan would seek to find out ways to create and administer Social Impact Bonds as a way to capitalize economic development for distressed communities should be supported. Apply Now!
We have entered an age when communities need to invest in themselves. Federal and state dollars are becoming scarcer. Economic developers, businesses and local civic leaders need to make a compelling case to the state legislature to allow local governments more flexibility in investing in their regional economies. For example the state of Oklahoma has allowed metropolitan areas to invest in defined capital projects funded by a small increase (one penny) in the sales tax. The tax has a start date and an end date and the projects are paid for in cash (no debt--save the money before you build the project!). The MAPs policy (Metropolitan Area Projects) could assist Michigan Regions in building their capacity to attract talent, build regional collaboration, generate needed revenues at the regional level and address important regional infrastructure needs. This Co-Learning Plan would describe the key elements of the MAP program and similar programs in the U.S. identify key benefits of such a program for Michigan and propose a specific policy action plan on how such a policy might be developed and adopted in Michigan. Apply Now!
Recently, the International Economic Development Council hosted a webinar on "Inclusive Growth". That webinar was promoted as critical to economic developers because "increasing numbers of people have found themselves shut out from access to economic opportunity. Middle-class incomes have stagnated, wage gaps have become more acute, and fewer lower-skill jobs are available that pay a living wage. Old patterns and new market dynamics make it difficult for many people to enter the workforce for the first time, to re-enter the workforce, or to earn a family-sustaining wage. At the same time, changing demographics and economic factors mean that the U.S. needs the broadest possible workforce participation." This co-learning plan would describe what is inclusive growth, why is it a 21st Century Economic Imperative, what can Michigan communities do broaden access to economic opportunities and what policies and practices can support inclusive growth. Apply Now!
Big box stores and tax base abatement appeals issues in Michigan? What are the impacts? What might be the solutions? Would Community Benefit Agreements work? - Big Box stores are benefiting from tax appeals that are reducing (most often more than half) their tax base. Usually "the construction costs" method is used in Michigan, but Big box stores have been appealing for and winning the use of "comparable sales", that is providing them significant reduction of their tax base (often more than half), due to assessments based on empty stores, called "dark stores". This reduction in the tax base impacts local revenue negatively on communities (reduction in budget, cut of public services etc.). How are the real distributional impacts of the change in the tax base assessment method effects all stakeholders (the stores, local governments, local communities)? What solutions and alternative practices make sense to such situations? Would Community Benefit Agreements make sense to cope with losses in local government budgets and public services to communities? Apply Now!
How might Michigan implement a carbon tax and dividend policy? What would the implications be for such a policy? Apply Now!
This Co-Learning Plan would describe why a "buying local" education campaign would be beneficial and how to do it and to help more of the smaller hard working Michigan Businesses. Apply Now!
We welcome innovative ideas under this category. What tools, models, policies or programs would support this idea? Consider your level of professional or academic experience in the topic area you are suggesting, as it pertains to economic development. Apply Now!