FIU Report: Major Changes Needed to Improve Miami-Dade's Economic Development Delivery System


MIAMI, Fla. (July 12, 2001) -- A new report from Florida International University's Metropolitan Center makes a bold set of policy recommendations to reduce barriers and facilitate economic development in a metropolitan region that has been referred to as "ground zero" for 21st century urban America.

Titled the "Economic Development Implementation Plan for Miami-Dade County," the EDIP report was commissioned in July 2000 by the Miami-Dade Board of County Commissioners "to identify clear and workable economic development strategies to overcome existing impediments, increase the benefits and positive consequences of economic development programs and to help ensure the most efficient and effective investment of public and private resources."

The Metropolitan Center conducted an assessment of the delivery of economic development programs countywide, with particular reference to how they serve the African-American community. The Center team used extensive interviews with key individuals, a panel of national experts, two community policy forums, and compiled information on 'best practices' elsewhere. The project also received guidance from an internal Advisory Committee and input from nationally-recognized subcontractors to produce a final report with extensive findings, recommendations, and attachments detailing input from various groups.

"The FIU Metropolitan Center Economic Development Implementation Plan for Miami-Dade County presents a fresh approach to holistically address economic development issues in the Black community," said Miami-Dade Mayor Alex Penelas. "All of the recommended initiatives and process reforms are interconnected and the investment in a holistic approach will be well worth the effort for Miami-Dade County. I look forward to focusing now on the Sustainable Neighborhoods Initiative."

The EDIP report's findings identify impediments in:

• a coherent and unifying vision and policy;
  
• access to private capital;
  
• inclusion of the African-American community;
• entrepreneurial environment; systems integration;
• investment in public infrastructure;
• coordination and integration with other planning and development functions;
• existence of benchmarks and performance standards;
• clear entity in authority;
• and formalized and tailored workforce development programs.
  

Based on these findings, the EDIP report then outlines a unified economic development implementation policy in the form of four "operational elements" and numerous associated policy recommendations:

• "Creating a Strong Local Entrepreneurial Environment" requires professional competence-building, a workforce development initiative, developing and leveraging capital resources for equity and debt, and investing in community development corporation organizational needs.
• "Developing Community Collaboration and Capacity-Building" should be supported by a "Sustainable Neighborhoods Initiative," and creating a CDC collaborative model.
• "Instituting a Comprehensive Planning and a Coordinated, Integrated Delivery System" requires a new leadership position of Chief Development Officer to coordinate and integrate Miami-Dade's planning and development functions, the initiation of a Comprehensive Economic Development Strategy, better use of federal resources through an accountable and collaborative business finance system, and coordination/dedication of Capital Improvement Program and Community Development Block Grant funding for targeted public infrastructure improvements.
• Building a Public/Private Lending Capacity" is supported by recommendations to insure that regulated financial institutions invest in all of Miami-Dade's markets and communities, create and strengthen alternative community development financial institutions, create a predevelopment fund, create Community Development Credit Unions to address financial literacy/basic service needs of lower-income markets, and create a venture capital company to serve the equity needs of minority-owned small and medium-sized businesses.
  

The EDIP report, while an independent product of the Metropolitan Center, grew out of Mayor Penelas' Mosaic 2000 Partnership and benefited from the support of the staff of the mayor and county manager offices, as well as the cooperation of a wide array of stakeholders.

"I'd like to thank and acknowledge the EDIP Team and EDIP Advisory Committee members for their dedication to this project and to our community," said Penelas. "The EDIP Team includes Dr. Jim Rivers, director of the FIU Metropolitan Center, Dr. Ned Murray of the FIU Metropolitan Center, Johnny Mack of the National Institute for Community Investment, and James Carras or Carras Community Investments. The EDIP Advisory Committee includes Dean Ronald Berkman of the FIU College of Health and Urban Affairs, Cynthia Curry of CWC & Associates, and George Knox, Esq.

"I'd also like to thank Dr. Marty Pinkston, chair of the Mosaic Initiative Economic Development Committee, for her support and guidance."

Metropolitan Center Director Rivers emphasized his "pride in a comprehensive and unfettered examination of issues of critical concern to this community." Murray, the report's chief architect and the Metropolitan Center director of Research, was also pleased in the results, stating, "The community planning process produced definable and workable strategies that can clearly guide Miami-Dade's economic development planning and implementation."

Created in 1998, The FIU Metropolitan Center seeks to better understand and ameliorate pressing urban problems in Southeast Florida through research, training and technical assistance. The Center coordinates the activities of the FIU Institute of Government and the FAU-FIU Joint Center for Environmental and Urban Problems.

Opened in 1972, FIU is one of America's leading public research universities, with two Miami campuses serving some 34,000 students. Its more than $60 million in annual contracts and grants focus on, among other things, a host of challenges specific to urban areas.

Media contacts: Todd M.-P. Simmons (305) 348-2232.