Economic Gardening In Your Own Backyard
In
the world of Economic Development, an old concept is new again. There
is a growing movement across the country to bring back economic
gardening - the fundamental idea that local entrepreneurs drive
local economies. Economic gardening, a concept which began at the
City of Littleton, Colorado in the mid-1980s, seeks to focus on
growing and nurturing second-stage local business (businesses
approaching $1 million in total receipts) and allowing smaller
companies to gain access to the same kind of tools and information
that their larger counterparts enjoy. But for many municipalities,
this message is something that cities have been trying to convey for
decades - economic growth begins right in your own backyard. This
concept is distinctive from the traditional economic practice of
business recruitment, which is often referred to as "economic
hunting" where professionals seek out companies and businesses from
outside of a jurisdiction to bring into their own local economies.
The
State of Florida has been paying attention to the economic gardening
concept. In response to the high demand for resources specifically
for second-stage businesses, the Florida Economic Gardening Institute
was established at the University of Central Florida in 2009. To
support this concept on a state-wide level, the Florida Legislature
funded the Economic Gardening Technical Assistance Pilot Program,
known as GrowFL. With various partnerships throughout the state,
including Orange County and the Florida High Tech Corridor Council,
the Institute collaborates with statewide partners to support the
growth of second-stage businesses through localized entrepreneurial
ecosystems.
Technical
assistance is offered by a team of consultants specializing in unique
areas to analyze business strategies. The team offers sophisticated
market research tools in the following areas:
Market
research/competitive intelligence
Internet
and social media strategy/search engine optimization
Geographical
information systems
Core
strategy review
Referrals
In
addition to providing businesses with dedicated professional
technical assistance, GrowFL holds events throughout the state to
help CEO's discover the people and resources needed to help their
business grow, and holds seminars to provide advanced training on
management principles and practices. The organization's CEO
Roundtable program gives participants the opportunity to discuss
business practices and management strategies with peer CEOs who deal
with similar growth challenges. The program consists of bringing
together groups of 12 to 15 qualified entrepreneurs over the course
of a year to engage in collaborative problem-solving sessions that
address issues important to business owners. Many of these events
are at no cost to businesses, but are limited to companies that
provide products or services within and beyond its current location
to regional and/or international markets. Unfortunately, physician's
offices, retailers and restaurants are not eligible to participate.
There
are two upcoming free GrowFL webinars that you should mark on your
calendar.
December
6, 2011 - How to
position your product as a solution
January
9, 2012 - Everything
you want to know about the customer you don't have
In
July 2011 a census of companies that participated in the GrowFL
program was conducted to measure initial outcomes and successes.
Based on the job growth figures reported, GrowFL has helped to create
more than 3,285 direct and indirect local jobs to Florida's economy
and has helped about 300 businesses.
The
bottom line is that GrowFL can help you position your company for
success with advice, training and referrals from a qualified team of
professionals.
To
sign up for the webinars visit www.growfl.com/growflnews/events
For
more information about GrowFL programs, visit www.growfl.com
or call (407) 823-6384.
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