Highlights from Spencer Economic Forum

Check out some highlights from the Spencer Economic Development forum our firm conducted on November 5th.  Clip is courtesy of Spencer Municipal Utilities.

Toyer Strategic Leads Forum in Spencer, Iowa

Toyer Strategic Consultant was in Spencer, Iowa yesterday continuing our work with the Grow Spencer Commission to create Spencer’s new economic development strategic plan.  The day concluded with a community forum where David Toyer made a presentation on the economic development planning process, the core planning components within the strategy, some of the targeted industries and a review of the community’s goals.  There is more coverage of the forum at The Daily Reporter and KICD AM 1240.

“Spencer is one of the nation’s 550 micropolitan statistical areas,” said David Toyer.  “We’re excited to be working with them on a plan to maximize their growth potential.”

Learn more about Micropolitans.

Learn more about the Toyer Framework® and our Micgrowpolitan™ services.

The Significance of Micropolitan Statistical Areas

Defined by the Office of Management and Budget (OMB) as labor market areas with at least one urban core between 10,000 and 50,000 population, “micropolitans” are far mightier than the “micro” implies.  In fact, micropolitan areas represent roughly 21% of the nation’s counties and around 9% of the population nationwide.

However, some micropolitans are faring much better that others in attracting new population, new business investment and new jobs.  And that’s where our firm comes in.  Our economic development practice specializes in economic development for micropolitans and our company’s founder has real experience as the former economic development director for the Greater Burlington Partnership (Burlington IA/IL Micropolitan) during a 4 year period where he helped attract over $250 million in new business development and 750 primary sector jobs.

“What we often see is that micropolitans which are struggling either need to refresh and refocus their economic development strategy or reorganize how economic development is approached within their geography,” says David Toyer, founder of Toyer Strategic.  “But many of these same areas have limited budgets and staffing resources.”

To solve this problem, Toyer Strategic doesn’t have a template strategic plan that it produces for all micropolitans.  Instead, the company uses an approach (a process for strategic planning) that lends itself to being customized to match the unique characteristics and resource limitations of a micropolitan.  Learn more about our approach

Additionally, Toyer Strategic Consulting has developed a Micgrowpolitan™ program where we will independently certify a micropolitan as Micgrowpolitan™ based on comprehensive analysis of key economic development program elements.  The certification is a way for economic development organizations in micropolitans to show their local officials, community stakeholders, partner organizations, investors and even prospects that they have what it takes to compete and win economic development projects.  What is the certification and how do I get it?

More Facts:
As of 2017, OMB tracks 536 Micropolitan Statistical Areas (μSAs) in the United States against only 383 Metropolitan Statistical Areas (MSAs).  But based on 2018 census population estimates, there could be as many as 550 micropolitans in the U.S. (Policom) and still only 383 metropolitans.

 

A Look at 2018’s Top Micropolitans

Unless you live in one, your first question may be: “What’s a Micropolitan?”

According to the Office of Management and Budget (OMB) a Micropolitan Statistical Area (μSA) is a labor market area in the United States centered on an urban cluster (urban area, city) with a population of at least 10,000 but fewer than 50,000 people.  This includes places like Burlington, IA; Paris, TX; Brookings, SD; Bozeman, MT and Ellensburg, WA.

Once considered “rural” areas, these locations are finally getting credit for being centers of economic growth, as well as great places to live.  However, some are doing better than others.  Annual rankings published by Policom and Site Selection Magazine (Conway Data) focus on these areas’ economic strength (Policom) and number of new qualifying economic development projects (Site Selection).

So how does your Micropolitan rank?  Here’s the top ten:

Ranking Policom Rank Site Selection Rank
1 Bozeman, MT Findlay, OH
2 Lewisburg, PA Batavia, NY
3 Truckee-Grass Valley, CA Wooster, OH
4 Traverse City, MI Shelby, NC
5 Wooster, OH T-5 Cullman, AL
6 Andrews, TX T-5 Richmond-Brea, KY
7 Durango, CO T-7 Ashland, OH
8 Edwards, CO T-7 Manitowoc, WI
9 Kapaa, HI Jefferson, GA
10 Dickinson, ND

T-10:
Cedartown, GA; Angola, IN; Bardstown, KY;
Danville, KY; Frankfort, KY; Tupelo, MS; Kingston, NC;
and Tiffin, OH

So what if you don’t like your ranking?  That’s where our firm comes in.  Our economic development consultant team specializes in working with Micropolitans.  Let us help you become a Micgrowpolitan™!

Spencer Iowa Retains Firm

The City of Spencer, Iowa has retained Toyer Strategic Consulting to assist their newly created Grow Spencer Commission with the development of an economic development work plan for the community.  Check out this story in The Daily Reporter.