MadREP Launches ‘Advance Now’ Strategy at Community Leadership Summit on April 25
MadREP, the economic development partnership for the eight-county Madison Region, announces the launch of the Advance Now Strategy, a comprehensive, action-oriented economic development plan that will serve as the region’s consensus blueprint for driving economic growth over the next five years.
MadREP will unveil the Advance Now Strategy at a Community Leadership Summit on Wednesday, April 25 from 3-5pm at the Sheraton Madison Hotel (706 John Nolen Drive, Madison). Leading economic development strategist Mac Holladay will join members of the Advance Now Strategy Committee to share the goals, objectives, and actions that will shape our region’s future. Paired with a detailed implementation plan that includes such metrics as per capita income, educational attainment, and number of business establishments, the Advance Now Strategy promises to move the Madison Region forward with a shared vision for economic growth.
“The development of the Advance Now Strategy is only the beginning. The real work starts now,” notes Mr. Holladay, President & CEO of the Atlanta-based economic development consulting firm Market Street Services. “The Madison Region is poised for positive development and job creation, but it will require the commitment and collaboration of leaders from both the public and private sectors. The future of this region relies on the aggressive and continued implementation of this strategy over years to come.”
The Strategy will outline specific steps to move the Madison Region forward in five key goal areas:
- Advance Economic Competitiveness
- Advance Human Capital
- Advance Innovation and Entrepreneurship
- Advance the Madison Region’s Story
- Advance Regional Cooperation, Leadership, and Diversity
This visionary game plan is built upon eight months of research (including a Competitive Assessment, Target Cluster Analysis, and Marketing Review), public- and private-sector participation, and input from 2,000+ citizens.
“Advance Now marks the largest comprehensive economic development initiative yet undertaken in the Madison Region,” says Jenn Post Tyler, Interim Executive Vice President of MadREP. “This strategy positions the Madison Region to reverse negative trends in our rate of business growth and job creation. MadREP looks forward to collaborating with implementation partners across the Madison Region to carry this strategy forward and enact real change for our region’s economy.”
The Advance Now Strategy will also position the Madison Region to charter an Economic Development District designation with the federal Economic Development Administration, opening much needed funding opportunities.
The public may register for the April 25 Community Leadership Summit at advancenow.madisonregion.org.
ABOUT ADVANCE NOW
The development process for Advance Now involves two research phases and two action phases, resulting in a holistic, transformational economic development strategy that builds on the Madison Region’s specific assets, and a tangible implementation plan that will guide strategic efforts and outcomes. Advance Now will unite fragmented economic development efforts with a comprehensive action-oriented blueprint that will enable the Madison Region to compete on a larger scale in today’s global marketplace.
The Advance Now Development Process
Phase 1) Competitive Assessment: Analyzes the region’s position in the economy (Sept-Oct 2011)
Phase 2) Target Cluster Analysis: Identifies existing and emerging targets to pursue (Nov-Dec 2011)
Phase 3) Core Strategies: Combines research with action items (Jan-Feb 2012)
Phase 4) Implementation Plan: Includes capacity assessments, measurement tools, and action plans (Mar-
Apr 2012) The Implementation Plan covers the years 2013-2017.
MadREP is partnering with the Atlanta-based economic development consulting firm Market Street Services, led by founder and CEO J. Mac Holladay, to develop Advance Now. The entire process is overseen by a 24-member Strategy Committee of public- and private-sector leaders and elected officials, and a 15-member Technical Workgroup of regional economic development professionals.
More information about Advance Now, including downloads of all the research and reports released to date, are available at advancenow.madisonregion.org.
Support for Advance Now is provided by American Family Insurance, Madison Gas & Electric, and the U.S. Economic Development Administration.