On Monday, I attended The Local Economy Solution workshop with guest presenter Michael Shuman.
It isn't very often that I come away from these kinds of sessions with, not one, not two, but three big 'Aha' moments, but I did this time. Michael, a well-known-although-not-to-me-economist and author of several books on creating community prosperity, gave an engaging presentation on how communities can take charge of their own economic development with commonsense actions that support local businesses.
The workshop, held at the HUBSPACE, was organized by the SFU Certificate Program for Community Economic Development in partnership with local sponsors Integris Credit Union, the City of Prince George and Innovation Central Society. The room was full of curious learners, staff from various business support agencies, and innovative thinkers.
I felt a little bad for the economic development staff from the city in attendance, as many round table conversations pointed fingers of responsibility at our municipality. The question of who should do what first to improve Prince George's economy was often answered with suggestions like, "The city should really..."
But is it the city? Not in isolation, I argue. If, as residents, we sit back waiting for our local government to revitalize our downtown or for the economic development office to bring a bunch of new businesses to town, we'll be in the ground before these changes ever appear.
So, if not the city, whose responsibility is it to develop our local economy? One of the things that stuck with me since the workshop is the notion that economic development shouldn't only be about attraction and retention of outside businesses. Michael demonstrated that we have everything we need, right here in Prince George.
He argued that local government could accomplish much more by putting money and focus into helping existing businesses grow and potential businesses multiple. But they can't make change alone. True partnerships must develop between entrepreneurs and business support agencies such as Community Futures, the Downtown Business Improvement Association and the Chamber of Commerce.
Add to this mix a few real estate developers and landlords of vacant buildings, a sprinkling of community champions with recent successes, and a healthy dose of government with innovative business support policies. And finally, add 80,000 people who make conscious choices every day to buy local products from locally owned businesses as much as possible, and you've got the magic recipe for change.
We are all part of the economic prosperity equation.
Then, what the heck are we waiting for?
We create our own destiny on this one folks and it starts with today. Where are you eating lunch? Are you buying produce grown as close to PG as possible? Is your mortgage with a bank or credit union that is making investments in your city? Are you actively making a difference to enhance the place you live in? Can you think of something that you have to leave town to buy and instead make it available to your neighbours by producing or selling it here?
The energy of possibility was quite strong in the room with Michael inspiring self-sufficiency in each of the workshop attendees. By the end, he had most of us believing that we could make a much bigger difference than we initially considered. If you missed the session, I encourage you to read one of his books such as Local Dollars, Local Sense: How to Move Your Money from Wall Street to Main Street and discover the incredible impact you have on Prince George's prosperity.
Until next week, stay in the black and keep coming back.
