The Washington State Economic Development Commission has proposed a new economic development strategy

The Washington State Economic Development Commission has issued a proposal called “The Washington Innovation Economy: A New Economic Strategy for Prosperity.”

Here’s an excerpt: “Washington State is in the midst of an unprecedented economic crisis that increases the need to make new policy choices and investment priorities. While policy attention will necessarily focus on the immediate and short term, we must also address longer term challenges. Our economy is undergoing a profound structural adjustment and facing new global realities. We need to come out of this recession stronger, more agile and more innovative.”

Related external links (will open a new window):

  • Read the full strategy [PDF]

    – end of post –

    Advertisements
  • This entry was posted in Partner_News_and_More, WEDC. Bookmark the permalink.

    2 Responses to The Washington State Economic Development Commission has proposed a new economic development strategy

    1. Karen says:

      Has anyone looked at Enterprise Ireland as a model? I saw firsthand how small Irish startups were able to leapfrog over larger international competitors because of this very focused approach. Companies have to be vetted in, but once accepted, they have access to innovation vouchers, training grants, research assistance, high-level business contacts, and capitalization strategies. The program has been around for about 6 years and has made a significant difference in key metrics such as revenue growth and job creation. The current strategy doc is not specific will take too long. I'd feel a lot better if I knew Rogers Weed was looking outside the US for solid programs with good track records and speedy deployment trajectories.

    2. The Washington Economic Development Commission strategic planning process assessed other state’s innovation strategies and in fact examined the approach in Ireland. Dr. William Harris, current President and CEO of Science Foundation Arizona, participated in the WEDC's Scoping Roundtable of Innovation & State Strategies held in Seattle last June. Dr. Harris, served as Director General of Science Foundation Ireland (SFI) in 2001, and was instrumental in the design of Enterprise Ireland. Dr. Harris' insights were utilized in the creation of the WEDC innovation framework. Additional research was also done on Korea, New Zealand, and Sweden. Check out the results of the roundtable at: http://www.wedc.wa.gov/Download%20files/ScopingRoundtable.pdf and also the innovation benchmark report at: http://www.wedc.wa.gov/Download%20files/Innovation%20Benchmarks%20June%202008.pdf The economic crisis (which by the way is severely impacting Ireland) reinforces the need for an economic development and recovery strategy based on innovation. The "WA Innovation Economy, A New Economic Strategy for Prosperity" is a three phase effort: first strategize, then organize, and then operationalize. You may be interested in the upcoming series of Innovation Roadmap Forums being held across the state during the next two months. The venues, dates and times are posted at http://www.wedc.wa.gov/meetings. At these forums local communities articulate their unique innovation vision, establish project priorities, identify partners and define success metrics. These on-the-ground relationships are the key to accelerating out of the recession and for our state to emerge stronger, innovative and more competitive globally.

    Leave a Reply

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out /  Change )

    Google photo

    You are commenting using your Google account. Log Out /  Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out /  Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out /  Change )

    Connecting to %s