With our nation's loss of nearly 600,000 jobs last month and pink slips now being doled out at the rate of 20,000 per day according to a recent front-page headline in The New York Times, communities across America have good reason to think "the sky is falling." Few occupations or corners of the country are being spared.
So what are economic developers to do? Do they throw in the towel until the economic stimulus plan starts to work and the economy shows signs of recovery? Economic developers in communities – big and small, rural and urban – might do well to take a page from Kalamazoo, Michigan.
After suffering a long period of economic setbacks in the 1990s when factory closings, corporate mergers and downsizings hacked thousands of high-paying jobs, the community embraced a long-term economic development strategy now known as "Community Capitalism." It's a "by your own bootstraps" approach to revitalization that harnesses the resources of corporations, non-profit organizations, educational institutions and entrepreneurs rather than looking for a "bailout" from state or federal governments.
Kalamazoo's successes are recounted in a new book, "Community Capitalism: Lessons from Kalamazoo and Beyond." The book, which has been featured on FOX Business News, and its practical advice on what communities can do in the face of devastating job losses, is gathering a head of steam in this economy. One community, Newark, Ohio, even bought 1,200 copies of the book, passed them out to residents for inspiration and held a series of town hall meetings to discuss what they could do to help themselves.
Now, the book's author and Southwest Michigan First CEO Ron Kitchens is partnering with Eric P. Canada of Blane, Canada Ltd. to present a Webinar on Community Capitalism on March 10 at 1:00 p.m., CST. The 90-minute session costs just $89.
Don't be "Chicken Little" running around proclaiming that the sky is falling. Take a hard look at how your community can seize control of its economic future. Consider registering for the Webinar at: http://www.eventbrite.com/event/272309485.
Dariel Y. Curren
Vice President
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