January 11, 2006

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January 11, 2006

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Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties – PowerPoint PPT presentation

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Title: January 11, 2006


1
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
2
RECAP Greater Bostons Key Challenges Scan of
the Competition
  • Mary Jo Meisner, Vice President for
    Communications, Community Relations and Public
    Affairs
  • The Boston Foundation

3
Greater Boston MSA Population 1969-1999
4
Greater Boston MSA Employment 1969-1999
5
Since 2001, MAs pop. employment have
declined relative to the U.S.
Source New England Economic Partnership
6
Metro Bostons 1990s economic engines are now
lagging
7
With a high and rising cost of living
8
Our region now has the highest family costs among
competitors
9
Yet the housing affordability gap in Greater
Boston continues to widen
Ratio of Median Income to Income Needed to
Purchase the Median-Priced House
Threshold of Affordability
Source Median income from the Census (1990 and
2000) and Current Population Survey (2004).
House prices based on the OFHEO index. Income
needed based on a monthly payment including
principal and interest on a 30-year conventional
mortgage with 20 down, real estate taxes and
insurance, and a qualifying income of 28.
10
The region has grown only due to immigrants, with
recent net losses
11
With global regional competitors catching up
12
Yet our public higher education funding is
erratic lower than competitor states
13
Despite gains, MCAS proficiency is stuck in
neutral, scores for young children are falling,
and dropout rates are rising
14
And waiting lists are rising for the first rungs
of educational opportunityBasic literacy
English classes
15
To top it off Weak networks brand compared
to competitors
  • NETWORKS
  • More fragmentation, less collaboration, fewer
    linkages
  • BRAND
  • Old, cold, expensive, unwelcoming, and
    anti-business a difficult place to get things
    done

16
Our mutually reinforcing assets are now out of
alignment, with housing costs our weakest link
Forces Within the Dynamic System Contributing to
Growth
Mutual Reinforcement
Unaligned Links
Weakest Link
Infra-structure Costs
Strongest Link
Regional Brand
Education
Education
Regional Brand
Demographics and Immigration
Regional Networks and Collaboration
Regional Networks and Collaboration
when there are engines that are not contributing
you may be only as strong as your weakest link.
17
We Have Big Ideas
  • Focus strategies on talent innovation
  • Create a talent-friendly environment
  • Drive growth from Greater Boston throughout the
    Commonwealth
  • Be a leader in creating talent partnerships with
    China, India and other innovation clusters

18
But our competitors have Big Ideas, too
  • Often the same ideas
  • For example

19
Chicago Metropolis 2020 a business-inspired,
broadly inclusive plan for the 21st century
20
(No Transcript)
21
NCs Research Triangle Where the minds of the
world meet
22
Research Triangle Park
23
Innovation Philadelphia local innovation/global
partners, student retention initiative, wifi
24
Multiple languages at phila.gov
25
Central Florida Putting the pieces together
26
TheSan Francisco Bay Area
27
A NEW MODEL Coordinated, Distributed Leadership
Open, Dynamic Civic Leadership
  • Regulatory Reform/Home Rule
  • Rappaport Pioneer Institutes
  • Sovereign Bank
  • MAPC
  • MMA, Mass Taxpayers, CURP

New Leadership Pipeline
John LaWare Leadership Forum
World Class Human Capital
21st Century Infrastructure
21st Century Jobs and Economic Strategies
  • Housing
  • Commonwealth Housing Task Force
  • Pre-K-11 Education
  • Early Education for All Campaign
  • Great Schools Campaign
  • Innovation Economy Jobs
  • Economic Stimulus Bill
  • Jobs for Massachusetts
  • Global Massachusetts 2015
  • Transportation
  • Multi-stakeholder CURP Initiative
  • Higher Education
  • Senate Task Force on Pub Higher Ed.
  • MetroBoston College Presidents Alliance
  • Energy
  • Mass Tech Collab., NE Council
  • Regional Branding
  • Marketing
  • New England Council
  • Boston Fed
  • 5th Century Trustees
  • Technology Access/Solutions
  • MA Technology Leadership Council
  • Health Care
  • Multi-stakeholder initiatives
  • Regional Planning
  • MAPCs MetroFuture
  • Workforce Training
  • SkillWorks
  • Community - Industry Partnerships

Cultural Facilities Economic Stimulus Bill/Match
28
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
29
Chapter 40R 40S and BeyondGetting the
Incentives Right Housing
  • Barry Bluestone

Director, Center for Urban Regional
Policy Northeastern University
30
New Single Family Home Permits Greater Boston

31
The Commonwealth Housing Task Force
  • Not a new organization but a federation of
    business, labor, environmental groups, housing
    developers advocates
  • Relies on housing studies report cards to
    analyze the problem, craft new solutions
  • A partnership with NUs Center for Urban and
    Regional Policy to encourage new housing
    construction

32
Principles for a New Approach to Housing
  • INCREASE PRODUCTION EFFICIENTLY Zone enough land
    to meet the demand for new housing when and where
    it is needed.
  • SMART GROWTH Protect open space and enhance
    historic preservation while providing more
    housing.
  • GET INCENTIVES RIGHT For developers and for
    local communities.

33
40R Basics
  • Overlay Districts near transit city, town and
    village centers the olde New England model
  • As of right residential development, with
    minimum allowable densities
  • 20 of the units affordable
  • Mixed Use

34
40R Incentives
  • up to 20 units -- 10,000 201-500 units
    -- 350,000
  • 21-100 units -- 75,000 over 500 units
    -- 600,000
  • 101-200 units -- 200,000
  • A one-time Bonus for each new or rehabbed unit

35
The School Cost Problem
  • A modest home in a typical community will have,
    on average, 1 student
  • the home will contribute 2,000 - 2,500 annually
    in property taxes for education, but the student
    costs 7,000 - 10,000 to educate
  • community forced to reduce average education
    expenditures per child, or increase taxes through
    an override

36
A Stumbling Block
  • Communities reluctant to permit higher density
    municipal finance implications are not favorable.
  • School costs are a stumbling block (constraints
    from Prop 2 ½ and declining local aid)

37
Declining Local Aid
38
Local Spending Lagging
39
Residential Property Tax Stress in the
Commonwealth
40
40S School-Cost Insurance
  • Provides insurance for net new school costs
  • By underwriting net school costs, the
    Commonwealth provides an incentive for
    communities to permit modest priced single family
    home construction

41
The Costs/Benefits of Chapter 40S
  • No costs until FY 2008
  • lt 2.0 million in 2008 ramping up to 35,000,000
    in FY 2014
  • Goal 11,000 new single family housing units
  • Only 0.8 of the projected Chapter 70 School Aid
    budget in 2014.

42
A Contribution to Economic Development beyond
Housing
  • New research at CURP -- working with NAIOP
    underscores the critical role of local
    municipalities in economic development
  • Firms locate in cities towns, not states
  • Local fiscal capacity is essential to attracting
    and retaining people AND firms
  • Must offset high private sector costs with
    quality public services
  • Limit high local property taxes

43
40S is only one aspect of local Aid Reform
  • The Massachusetts Taxpayers Foundation recommends
    an increase in local aid to 40 of state
    generated revenues - an estimated increase of 1
    billion back in FY2005

44
To Ensure Prosperity
  • Implement Chapter 40R 40S New incentives to
    reduce the cost of living
  • Advocate for increased local aid investment in
    cities towns to help them retain attract
    business and jobs
  • Replicate federation approaches like the
    Commonwealth Housing Task Force to create
    consensus
  • Focus on leadership, partnership, and getting the
    incentives right

45
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
46
Building an Integrated System of Educational
Excellence
  • Maura Banta

Corporate Community Relations Manager IBM
47
Our global regional competitors are advancing
in educational attainment
48
Education immigrants the key to the future
workforce
Educational Attainment Immigrant Labor Force
arriving in MA 90 - 00
Source MassInc, US Census, CPS data.
49
And despite investment and gains, MCAS
proficiency is stuck in neutral
50
Our funding of public higher education is
erratic among the lowest
51
The OVERARCHING GOAL An Excellent Pre K- 16
Workforce Development System

Workforce Development
Lifelong Learning
Public Private Colleges, Universities
Adult Literacy English Skills (ABE/ESOL)
K-12
Out-of-School Enrichment
Early Education
Healthy Child Development
52
Broad Agreement Among Business Leaders on Core
Goals
  • Quality Early Education
  • Quality Teaching/Teacher Training
  • High Standards (Proficiency), Quality Measures
  • Overcoming Disparities in School Quality
    Student Outcomes
  • Excellence in Math Science
  • Ready Access to Adult Basic Education
  • (ESL, ABE)
  • Importance of Public Higher Education
  • Workforce Development At All Levels

53
Excellent Business-Supported Initiatives Underway
  • PRE K- 12
  • Early Education for All Campaign
  • Just for the Kids -Mass Business Alliance on
    Education
  • Great Schools Campaign Mass Insight Education
  • Rennie Center Research plus
  • Teacher 21 Mass Business Roundtable
  • NGA Grant to MA
  • HIGHER EDUCATION
  • Senate Task Force on Public Higher Education -
  • Budget Recommendations
  • R D Centers of Excellence Technology Road
    Map/Mass Insight
  • STEM (Science, Technology, Engineering, Math) -
    School to Career
  • Goldberg Seminar collaboration among institutions

54
Workforce/Career Development
  • SkillWorks
  • A New Initiative
  • 5-year, 15 million partnership Foundations,
    City of Boston, Commonwealth of MA
  • Directly engages employers
  • Targets health care and hospitality
  • 30-40 million pending
  • Economic Stimulus Bill

A fragmented system. But what works? Need
research pilots at all levels
55
The First Rung of the Ladder Early Education
 
56
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
57
Understanding the Importance of Early Education
  • Mara G. Aspinall

President Genzyme Genetics
58
The Early Years Are Learning Years
Sources Public expenditures RAND analysis.
59
Early Education Pays in Better Child Outcomes
Source Reynolds, "Journal of the American
Medical Association.
60
Early Education Returns 7.16 Per 1 Invested
(Lifetime savings per participant (based on age
27 follow-up) in 2001 constant dollars,
discounted 3 annually)
Sources Barnett, High/Scope Press.
61
An Increasing Priority Across the Nation
  • 3 States have Universal Pre-K
  • Georgia
  • Oklahoma
  • Florida
  • 12 States moving toward Universal Pre-K
  • New York
  • New Jersey
  • North Carolina
  • Early Ed a top priority in Gubernatorial
    Elections
  • Virginia
  • New Jersey
  • 26 States increased Pre-K Investment in FY06

62
H.4582 An Act Relative to Early Education and
Care
  • CREATES
  • The framework for a new voluntary, high-quality
    universal early education program
  • Research-based standards
  • Accountability via strong child assessment
    program measurement

63
What Can Business Civic Leaders Do?
  • Join the Campaign
  • Contribute expertise for economic policy
    analysis
  • Participate in legislative advocacy
  • Connect EEA with HR staff to engage your employees

64
www.earlyeducationforall.org
65
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
66
Developing a Brand Name for New England
  • Lynn Browne

Senior Vice President Federal Reserve Bank of
Boston
67
  • Mike Reopel of Deloitte Consulting
  • New England does not offer potential investors a
    clear positive message
  • Little marketing compared to competitor regions
  • Region should develop and market its brand
  • An easy fix

68
  • Mike continued
  • New England states should work together
  • Greater impact
  • Region is more marketable than individual states
    and cities
  • Bostons dynamism and culture complemented by
    recreational opportunities and lower costs
    elsewhere

69
  • Audience comments
  • Massachusetts has a brand state is a difficult
    place to do business
  • We need a positive theme that drives action
  • Example Singapore as talent hub

70
  • What to do?
  • Develop a positive message
  • True
  • Meaningful
  • Brandable
  • Market message aggressively
  • Both governments and business
  • Act to reinforce our message

71
  • What to do?
  • Attack our negative image
  • Fix problems
  • Dispel inaccuracies
  • Say less about things beyond our control
  • Can we be more courteous/welcoming?
  • Smiley face was invented by Harvey Ball of
    Worcester

72
  • Elements of a positive regional message
  • Innovative, entrepreneurial culture
  • Sophisticated professional workers firms
  • Magnificent research teaching institutions
  • Abundant recreational cultural opportunities
  • History everywhere

73
  • New England states already have a common website
    Team New England
  • Marketing tag lines
  • Massachusetts Its All Here
  • You Belong in Connecticut
  • Blue Sky Rhode Island Think Big, Start Small,
    Scale Fast
  • Think Vermont

74
  • Could we
  • Convey a more substantive message?
  • Be clearly linked to our region?

75
  • What next?
  • Form a task force to work on a regional brand
    and a marketing strategy
  • Send ideas and suggestions to
  • Susan Asci, New England Council
  • Lynn Browne, Federal Reserve Bank of Boston

76
Federal Reserve Bank of Boston The Boston Foundation Greater Boston Chamber of Commerce New England Council National Association of Industrial and Office Properties Associated Industries of Massachusetts Mass Insight
January 11, 2006
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