EDA Promotes Rural Economic Prosperity

By Dr. David A. Sampson, Assistant Secretary for Economic Development, US Department of Commerce

The Department of Commerce and the Economic Development Administration (EDA) are helping forward President Bush’s goal of helping American communities compete economically in an ever-changing, technology-driven world. In this regard, we are interested in partnering in projects that promote technology-based rural development.

Development of strong regional economies is imperative to rebuilding confidence and prosperity for all our citizens. To help boost development of regional economies, EDA has adopted an economic development strategy based on enhancing regional competitiveness, fostering innovation, increasing productivity and developing industry clusters.

We have engaged in discussions with some of the country’s leading experts on economic development, including Dr. Mark Drabenstatt of the Federal Reserve Bank’s Center for Rural Studies in Kansas City, and Professor Michael Porter of Harvard Business School, to further advance the latest thought on rural development.

EDA is making investments that will help develop regional economies so that our nation’s communities, especially our rural communities, can best compete in the global marketplace. EDA has just released a new report, with the University of Minnesota, entitled, Rural Knowledge Clusters: The Challenge of Rural Economic Prosperity. It brings to the table the idea of focusing on knowledge clusters, instead of just industry clusters, in rural areas and describes three Minnesota towns as examples. The report can be accessed on EDA’s Web site at: www.osec.doc.gov/eda/pdf/U.Minn.Lit.Rev3.pdf

EDA recently invested $175,000 in the collaborative effort between the NADO Research Foundation and the Environmental Services Research Institute (ESRI) to create a geographic information system training scholarship program. This program will improve the ability of our planning partners to analyze their regional economies and help identify what industry clusters exist in their area while developing their comprehensive economic development strategies.

EDA issued a guidebook that recommends a realistic, principles-based approach to strategic, technology-based economic development planning. Based on “best practices” from across the United States, Strategic Planning in the Technology Driven World: A Guidebook for Innovation-led Development captures both the real world expertise and creativity needed for communities to succeed in planning and promoting technology-based economic development.

The guidebook examines successful regional economic development initiatives, describes the “how to” of strategic planning for successful development, and provides background on the knowledge economy and economic development and how to conduct a regional assessment, and a list of technology tools and resources for strategic planning. The guidebook was completed with the help of Collaborative Economics of Mountain View, California, in conjunction with Andrew Reamer and Associates of Belmont, Massachusetts. The guidebook can be downloaded from EDA’s Web site at: www.osec.doc.gov/eda/pdf/1G3_21_ stratplan-tech.pdf

We all have our work cut out for us during the coming years. We must work together in new partnerships and pursue market driven development strategies to enhance employment opportunities and long-term prosperity. Americans expect and deserve no less.

Through these efforts, EDA and our development partners will continue to help forward the President’s goal of leaving no geographic or demographic sector behind when it comes to achieving the American dream. I look forward to working with NADO leadership and NADO members in pursuit of this goal.

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