Columbus2020!

Area opening a new chapter in economic development

By Kenny McDonald

Columbus2020! Wednesday January 4, 2012 9:39 AM

As we kick off a new year, it’s important both to reflect on the economic development progress central Ohio made in 2011 and to review priorities and goals for 2012. Columbus2020! serves as the 11-county economic growth strategy and involves several local organizations. The comprehensive, 10-year strategy provides a roadmap to increase our region’s outreach to local companies, market the region to growing businesses around the world and create a nurturing environment for young companies to start and prosper.

Columbus2020!’s leadership insisted on having a bias for action in its first year of operation to set the tone for this aggressive strategy. The first priority was to build a team of professionals to lead the effort and to collaborate with the various state and local economic development groups. Secondly, it was important that a board of directors be put in place to lead the public-private partnership. Finally, it was critical that the strategy include a sustainable funding model and engage an inclusive group of local governments and private-sector companies to fund the strategy.

Operationally, the team’s focus was to reach out to local businesses. Along with its local economic development allies in the region’s 11 counties, more than 500 companies were interviewed face to face about their challenges and opportunities for growth. The goal of this outreach was to better understand the region’s economic base, connect companies with their peers and make them aware of state and local programming available to support them.

The Columbus2020! team set a new standard for marketing the region nationally and internationally, with more than 40 business missions to talk with developing businesses and location advisers in 22 states and six countries. The team uncovered more than 150 qualified projects, hosted nearly one new company per week to investigate the region firsthand and participated in dozens of projects that have announced expansions and new jobs in central Ohio.

To help foster entrepreneurship in the region, Columbus2020! collaborated with TechColumbus to create the First Customer initiative, which connects technology and biomedical startups with larger companies and institutions in the region. Although the program is in its early stages, more than 30 Columbus-based entrepreneurs have been engaged thus far. One success story is AKOTA Technologies, whose software tool has landed a trial engagement with a major health-care organization as a result of the First Customer initiative.

Although Columbus2020! had a productive year in 2011, its leaders want to continue the momentum throughout 2012 and beyond. In all that we do, we will keep in mind the aggressive goals we set forth when forming the organization: to create 150,000 new jobs, generate $8 billion in new capital investment and increase per-capita income by 30 percent by 2020. Broadly, we want the Columbus region to be recognized as a leader in economic development. With one year down, we think we’re headed in the right direction.

Kenny McDonald is chief economic officer for Columbus2020! Email McDonald at km@columbusregion.com or visit ColumbusRegion.com for more information.

May 22, 2012 | Currently: 70° Overcast

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