Competitve Realities
Although the bulk of the criteria in Section 13.6 of House Bill
1414 address components of the actual Vision Plan,
Market Street feels that an essential component of the strategic
planning process is a thorough understanding of a
region’s economic and demographic trends, and overall business
competitiveness.
To put its competitiveness into clearer focus, the Piedmont Triad
Region will be compared against 3 benchmark regions
(Memphis, Tennessee; Greenville, South Carolina; and Norfolk-Virginia
Beach-Newport News, Virginia). The Competitive Realities assessment
will include the following components:
Demographic Profile: What are the current and
past trends in the Piedmont Triad region’s population, including
population growth/decline, age distribution, racial distribution,
and so forth?
Economic Profile: What are the current and past
trends in the Piedmont Triad region’s economy, including
employment and unemployment trends, income trends, economic base
trends, and so forth.
Business Competitiveness Profile: How does the
Piedmont Triad region compare to the benchmark regions in the
following competitiveness categories?
- Education and workforce development;
- Infrastructure;
- Business costs and capacity; and
- Quality of life
Complementing the quantitative collection of data in these Competitive
Realities components will be comprehensive
qualitative information gathered from a wide-ranging regional input
process. This feedback will inform the Competitive
Realities assessment, as well as each successive report in the Piedmont
Triad region’s strategic development process.
|
