These are not articles

Exploring ideas, innovation, and impact in economic development

A unique approach to generating impactful ideas is being launched as a pre-conference event to the 2012 Economic Developers Council of Ontario (EDCO) conference early next year. Combining the energy and creativity of the groundbreaking TEDTalks with hands-on skills building that can be applied immediately in your organization, i³ is envisioned as the first in a series of events focused on ideas, innovation and impact in 21st Century economy. Among the event's presenters are: summit climber Jean-Francois Carrey, who conquered Mount Everest at the age of 24; business visionary Idris Mootee, founder of Idea Couture Inc. and author of Escape Velocity; and creative thinking guru Tim Hurson, author of the best-selling Think Better – a handbook for transforming ideas into action. Together, this group of world-class speakers and innovators will explore how to generate ideas, how to overcome adversity in making them happen, and how to maximize their impact for your organization, your community or yourself. The one-day event takes place in Toronto on January 31st, and is open to anyone with an interest in the future of economic development, workforce planning or those who are seeking a new way of solving problems. Registration details can be found here and more information about the event is available here.

On the first day of Christmas PNC gave to me twelve costs indicating

For the past 28 years economists have calculated how much the gifts from the 12 days of Christmas cost each year. PNC's Christmas Price Index is a useful (and rather festive) tool for measuring inflation on particular goods and services. Forbes suggests that this year's Index mirrors the US economy with labour remaining relatively constant and the price of goods increasing only a small margin over last year. For more insight into some of the key patterns that can be drawn out of the index take a look at this interesting article from The Atlantic. Particularly fascinating are the inflation rates of goods versus services and the dramatic increase in gold we've witnessed since 2008. On a more personal note: if you're looking for any of the particularly pricey items from the song this year (the most expensive are those beautiful swans-a-swimming) head over to Luxembourg, where the Economist has found that Christmas shoppers are most generous in their gift giving. And be sure to check out the great interactive Christmas Price Index website.

Groundbreaking "Cluster Mapping Project" changes the way we see economic clusters

The United States Economic Development Administration (EDA) and Harvard University’s Institute for Strategy and Competitiveness (ISC) have unveiled a major new online project designed to map America’s "clusters" of economic strength. First described by Harvard's Michael Porter in 1990, economic clusters are interconnected concentrations of businesses, suppliers and institutions that operate together (usually in a specific geographic area) to increase productivity. Since Porter defined the concept in his book The Competitive Advantage of Nations, it has become the holy grail of many economic development programs as economic developers seek to shape and define such concentrations within their own regions. Now ISC and EDA have launched a major new website that tracks cluster growth and development across the United States. The data available includes mapping of clusters and regional strengths, statistical evidence to back the mapping up, a database of key organizations involved in cluster development, and a list of resources to support those working on cluster development. As Michael Porter himself suggests, the site "will help clusters and regions to understand their economic composition, benchmark their performance, improve institutions, and find appropriate partners across the country." EDA and ISC stress the beta test nature of the site, and insist that it will be updated and expanded on an ongoing basis.

MPI asks: "Dear Santa, Who's Your City?"

What if one person had the potential to drive local production and output in sectors like advanced manufacturing, transportation and logistics, and retail/wholesale trade, while attracting new businesses and supporting the development of a global network of trade and transportation? What if this individual was looking to move their business operations and home to an area that allows access to global markets while minimizing commuting times? Building on the concepts of Who’s Your City, the Martin Prosperity Institute recently undertook the site selection work for this one-man economic driver, offering Santa a list of North American metropolitan areas that provide the best mix of lifestyle amenities that are important to him. By looking at the number of cookie factories per capita; milk producers per capita; doll, toy and game manufacturing establishments per capita; postal service workers/couriers per capita (to receive and reply to wish lists); and department stores per capita, MPI notes that Guelph, Ontario, is Santa’s best choice for a new home town across all of North America, while Williamsport, Pennsylvania, topped the list of U.S. metros. Though lower ranking in his key lifestyle amenities, we might suggest that Santa not immediately write off the warmer confines of San Jose or Los Angeles after years at the North Pole.

Making the most of your volunteer resources

In 2007, 46% of Canadians volunteered and collectively contributed 2.1 billion volunteer hours, equivalent to 1.1 million full-time jobs (no doubt helping Canada to rank 3rd in Gallup's World Giving Index last year). This impact is not unique to Canada. Volunteers have made Habitat for Humanity, for example, one of the largest homebuilders in the United States and a high performance organization with the capacity to respond to regional and national issues. In fact, The United Nations now recognizes local volunteerism as an “essential component for the sustainable and equitable progress of communities”. So how can organizations that rely on volunteers (be they on the ground or around the boardroom table) make the most of this valuable resource? This tool can quickly identify a volunteer’s "VQ", the individual strengths that will help them to be most effective in executing an organization's vision. For more tools and resources on volunteer management visit volunteer.ca or Imagine Canada's Nonprofit Library.