What do Boston, Madison, Austin, Indianapolis, Columbus, the triangle in the Carolinas and Silicone Valley have in common? We know they are all thriving, but there is more to the story.
First, each of these communities has an innovative, entrepreneurial and engaged college or university that is partnering in the growth.
Second, each of these communities is thriving as an economic region, not as a single municipality. The region is being defined by the international marketplace and the labor force, not by some arbitrary configuration mandated by law or some governmental agency.
Third, because these areas are thriving by regions, they are being led by business people, not political leaders. The local political leadership must be involved and at the table, but the actual leadership is coming from the business community.
Fourth, in each of the thriving communities, the business community has created a multi-jurisdictional, non-profit, non-governmental organization (NGO) to advance the region’s agenda. NGOs can do this because state laws creating them allow great flexibility and, consequently, they are more nimble than state and local governments and bureaucratic agencies.
Finally, the communities that are thriving also have high concentrations of people with advanced degrees. The higher the number of degrees, the higher the per capita income and the more robust the regional economy. Diversity also helps fuel prosperity as people from around the world come to these innovative colleges and universities to acquire knowledge and skills that drive the new economy. Smart communities figure out how to attractand retain this foreign talent pool.
The formula is easy! An Engaged University + Regionalism + Business Leadership + NGOs + Talent = Prosperity. It is that simple!
Doing it is hard. That’s the challenge Mid-Michigan faces today.