Summarizing the Economic Development Strategy Task Force’s Reboot Meeting

The SEMCOG/Metropolitan Affairs Coalition (MAC) Economic Development Task Force convened on July 15 for the first time since our initial kickoff meeting in February. A lot has changed in that time, most noticeably with the now-familiar Zoom video call matrix being our virtual venue, rather than the Woodward Room in SEMCOG’s office.

The region’s economic development strategy provides Southeast Michigan with a roadmap for economic success, and the task force’s role is to ensure that we have a dynamic strategy that evolves to reflect the region’s current and future needs.

Task force co-chairs Laura Kropp, Mayor, City of Mount Clemens; and Sandro DiNello, President & CEO, Flagstar Bank, shared some of their thoughts and experiences on the changes we’ve undergone since that first in-person meeting, focusing on the important topics of COVID-19 and social equity. Sandro DiNello called this a time of opportunity and noted his bank’s continuing commitment to being an inclusive organization. Laura Kropp talked about creation of a new board in her city that will look at city practices through an equity lens. Health and equity will be important components in this new economic development strategy.

Task force members heard information on current socioeconomic conditions, with health and equity being emphasized in the analysis. There have been changes in the regional economy, most notably the growth in health care and the emerging importance of telemedicine; the acceleration of automation, especially in manufacturing; and the challenges facing traditional retail. Reference was also made to a new SEMCOG Quick Facts document – Did the Past Economic Recovery Result in Shared Prosperity?
Task force members were divided into several small breakout groups to discuss immediate and longer-term impacts of the COVID-19 pandemic and the ways in which health has a heightened role in economic development across the three pillars of Place, Business, and Talent. Task force members also discussed the importance of ensuring that plans for the region’s economic recovery and long-term prosperity promote and are committed to diversity, equity, and inclusion (DEI).

There are a number of upcoming opportunities for members and guests to participate in events that will help inform our work. In August, we will release a podcast featuring a discussion with the task force co-chairs on topics covered at the July 15 meeting. This fall, SEMCOG will host a workshop with economists from the Research Seminar in Quantitative Economics (RSQE) at the University of Michigan on the topic of shared prosperity. Stay tuned for more information.