State Encourages Innovation, Spurs Entrepreneurship
Published May 27, 2009
With bank bailouts and mortgage meltdowns dominating news headlines, it’s no wonder that companies are looking for ways to cut costs and weather the storm. But with proper planning, the current downturn also could mean big opportunities for California businesses.
“It’s more important than ever to look at ways to strengthen our approach to economic development – investing in long-term strategy and [maximizing use of] existing resources,” says Kathy Millison, city manager for the city of Clovis and incoming chair of the California Association for Local Economic Development, or CALED. “Now is the time to position ourselves for future growth.”
Millison says the state is working hard to develop strategies that will support existing industries while fostering new ideas and technologies in everything from health and life sciences to green industries and renewable energy.
“California has a proven record when it comes to innovation and entrepreneurship,” she says. “Our economy is shifting from manufacturing products to manufacturing ideas. We have the intellectual resources and leadership in place to spur growth, but we also have to look at where we fit within the global marketplace.”
Millison insists that such changes in strategy must occur at the local and regional level. “This is going to be a grass-roots effort. Change is not going to come from the top but rather from the bottom up. It’s important to help our local and regional economic development partners understand their strengths and seek out opportunities.”
That has been CALED’s mission from the beginning. Established in 1980, the organization provides training, education, research and technical assistance to its more than 900 members, including cities, counties, state and federal agencies, and economic development corporations throughout the state – as well as the private sector.
Story by Amy Stumpfl
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