Retooling for Growth: Building a 21st Century Economy

in America's Older Industrial Areas On November 8-11, 2007, The 106th American Assembly took place at The Hotel Hershey in Hershey, Pennsylvania. Description The Assembly on "Building a 21st Century Economy in America's Older Industrial Areas" investigated and reported on emerging economic development strategies for weak market cities, aimed at meeting a major need as cities and metropolitan areas seek to find their place in the changing global economy. Thought leaders in urban affairs continue to refine the work produced in the The American Assembly's 1997 Community Capitalism Assembly, categorizing cities and their metropolitan areas as weak market and strong market places. The Brookings Institution's Metropolitan Policy Program is leading a consortium that includes Smart Growth America, the National Housing Institute, PolicyLink, and other national organizations in advancing thinking and action to improve weak market cities. The American Assembly held in 2007 builds on this work to define effective economic development strategies for weak market cities. A crucial question facing weak market cities today is what economic development strategies should be used as these cities and metropolitan areas seek to find their place in the changing global economy. There is no easy fix here, but this Assembly represents a major opportunity to remove the public policies and practices that handicap these cities. The American Assembly report will serve as an action agenda for strengthening the economic development strategies, policies, and programs of weak market cities. What are the common themes and approaches in current economic development thinking about how weak market cities can best identify and implement economic development strategies to help them find their economic niches in the world market? How should local governments in weak market cities intersect with community groups, business organizations, and civic organizations to implement successful economic development strategies? How should federal and state economic development tools be adjusted to help weak market cities fashion and implement successful economic development programs? Given the range of economic development theories, how should weak market cities determine the best economic development strategies for their particular circumstances? PRESENTATIONS Read and hear project director Paul Brophy's commentary on NPR's Marketplace. Retooling for Growth project director, Paul Brophy recently gave a panel presentation at the International Economic Development Council's Federal Forum. See a copy of his powerpoint presentation here. "Retooling" participant Stephen Crawford -- Deputy Director of the Brookings Institution Metropolitan Policy Program -- served on the panel with Paul. View a PDF of his presentation here.