The Washington Technology Center (WTC) is hosting the first-ever Washington State Technology Summit on April 8 in Seattle. The event is expected to draw 400 people to discuss trends, opportunities and challenges facing Washington State's technology industries. |
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Febuary 2, 2005
Work begins in earnest to develop regional economic strategy The new year kicked off the Prosperity Partnership's work to develop a regional economic strategy. We received the first draft of a living research document from our consultant team. Cluster Working Groups of approximately 50 people each have formed around five initial industry clusters. Leaders from throughout the four-county region have agreed to serve as co-chairs of each group. And over 75 organizations have signed on to collaborate as partners. All this activity means that over 300 of our region's leaders in the five clusters and in public, private, non-profit and labor organizations will be actively collaborating to develop and implement this strategy. And thousands more will be involved through regular updates and having the opportunity to comment on ideas and drafts. We are developing a truly regional economic strategy! Read below for more details... Prosperity Partnership: working for small businesses
The Prosperity Partnership recognizes this contribution and has taken two important steps to include the needs of small businesses in our strategy development. First, small business issues were one of seven topics the 1,100+ participants at the Regional Economic Summit explored in detail. Second, we have integrated small businesses into the strategy development process by recruiting small business owners onto the Cluster Working Groups, Partnership Roundtable and Economic Development District Board. Small businesses account for 60% of the participants in our strategy development process, ensuring their voice is heard throughout the next four months. As the strategy coalesces, having a majority of participants representing small business will help us reach our goal of growing 100,000 new jobs in our region. Research points to region's strengths, weaknesses Throughout the summer and fall, consultants from the Economic Competitiveness Group and Global Insight interviewed top business executives in the Puget Sound region to discern what we view as our top strengths and weaknesses. The results are a mix of issues on which Prosperity Partnership partner organizations have been working tirelessly for many years and formerly 'niche' subjects that are becoming areas of concern to the broader business community. A significant strength of this region according to many of the respondents was our quality of life. The decision for some to locate here and the ability to attract the best people from all over the world is due in great part to our high quality of life. Intellectual capital and research capabilities, and port, airport and logistical attributes were other strengths cited by many interviewees. Not surprisingly, transportation and congestion was cited by nearly three-quarters of all respondents as a major weakness of our region, and 32% named it a top constraint on their ability to do business. But over half of the respondents also said we are weak in technology transfer or the ability to commercialize new technologies. This is surprising - it shows that technology transfer has become an issue that is recognized by the entire business community, not just the technology sector.
Community leaders join as Cluster Working Group co-chairs Prominent business and community leaders have agreed to lead the Prosperity Partnership's five cluster working groups, securing our chances for developing a cohesive, integrated strategy by the spring of this year. The five clusters identified for action this year, as well as each cluster's co-chairs are: Aerospace Environment & Alternative Energy Information Technology Life Sciences Logistics & International Trade Each Working Group will develop a set of three to five action items to improve our region's competitiveness in a given cluster. Cluster Groups, Partnership Roundtable working on ambitious schedule Between now and the end of April, each of the five cluster working groups will assemble regularly to develop business plans aimed at overcoming obstacles or seizing opportunities. All this will happen on a very ambitious schedule. We started last week with the first Environment & Alternative Energy cluster group and the entire process will be completed by the start of May. If you are interested in joining the Partnership Roundtable, please contact Richard Berndt at 206-587-5061 or rberndt@psrc.org. Washington Technology Summit: Supporting Industry Growth The Washington Technology Center (WTC) is hosting the first-ever Washington State Technology Summit on April 8 in Seattle. The event is expected to draw 400 people to discuss trends, opportunities and challenges facing Washington State's technology industries. The summit will investigate similar issues as at least two of the Prosperity Partnership's cluster working groups: Environment and Alternative Energy and Life Sciences. In its afternoon sessions, the summit will focus on four key technology industries: energy, life sciences, defense & security and nanotechnology. WTC is also a founding partner of the Prosperity Partnership. For more information, visit the Washington Technology Center website at www.watechcenter.org. |
Small businesses are the backbone of our nation's and our region's economies. In 2002, there were just under 23 million small businesses nationwide, and small businesses (businesses with fewer than 100 employees) employ 60% of the Puget Sound region's workforce.
