Five Key Learnings from the Regional Economic Framework

On August 12^th, the Metropolitan Council formally adopted the Regional Economic Framework, a document that presents regional economic conditions and an action plan to make the region better across nine strategic priority areas. The Framework is more than a planning document. First, the Framework serves as an alternative Comprehensive Economic Development Strategy (CEDS), a prerequisite to qualify for millions of dollars of U.S. Economic Development Administration (EDA) funding. Because of the adoption of the Framework, the 7-county metro area now qualifies for much needed CARES Act disaster recovery assistance funds to respond to and prepare for the COVID-19 pandemic. Because of the adoption of the Framework, cities, counties, tribal governments, nonprofits, and universities can access competitive funds for COVID-19 disaster recovery, in addition to millions more dollars of funds from EDA’s ongoing funding programs over the next several years. Second, the Framework represents a partnership between the Metropolitan Council, the Center for Economic Inclusion, and GREATER MSP, an exciting achievement of collaboration for our region. This week I reflect on some key learnings developing the Regional Economic Framework and what it means for reimagining the Minneapolis Saint Paul regional economy.

1. Collaboration is the key to success

When GREATER MSP and the Met Council joined in 2019 to discuss the idea of developing the Regional Economic Framework, we knew it was possible because of the firm footing of regional engagement both entities brought to the project. The GREATER MSP Partnership is made up of hundreds of organizations, with cross-sector representation from public, private, and civic partners. The Met Council convenes regional governments across the 7-county metro with a diversity of stakeholders who inform major near and long-term planning efforts (including Thrive 2040). Together with the Center for Economic Inclusion, which connects and empowers Black, indigenous, and people of color (BIPOC) leadership and convenes economic inclusion dialogues across sectors, our three organizations were positioned to develop the Framework through collaboration and consensus. Yet even with the engagement made possible through our three organizations, we learned through partner input there is even more that can be done to ensure the Framework represents the entire region and focuses on priorities that matter to all.  All three of our organizations value meaningful and authentic engagement, and are committed to ongoing engagement around the Framework, including its implementation, evaluation of effectiveness, and potential future revisions.

2. Community and economic development join forces to reimagine the regional economy

We built a Framework that aligns community development and economic development in a way we haven’t seen before in MSP, a positive outcome of the 2020 disasters we face: a pandemic that resulted in an economic crisis and the tragic killing of George Floyd that resulted in a social movement to combat racial injustices. Through the development of the Framework in the context of COVID-19 and George Floyd, it became evident that the actions needed to make our region a stronger, more resilient economy require a broader set of partners than ever before. The threats to our growth require a mix of tactics at the hyper local level up to regional and state levels, and innovative solutions through engagement of individuals, organizations, and companies of all sizes.  Reimagining the MSP regional economy will require action across community development and economic development, local and regional, public and private.

3. Aligning planning and economic development to deliver stronger place-based strategies

One of the outcomes of the Regional Economic Framework I am most proud of is the stronger alignment between regional planning and investment policies led by Met Council and the economic development and regional competitiveness strategies of GREATER MSP. What became clear during the process of building our region’s economic conditions and opportunities was that we are smarter and more targeted when there is better alignment across these two disciplines. For example, land use policies that facilitate the development of affordable housing near reliable transit routes makes it easier for workers to access jobs and companies to grow. Building out and maintaining resilient wastewater infrastructure ensures that manufacturers can swiftly ramp up production to respond to changing market conditions. Protections of our natural resources and retaining plentiful public greenspace ensures that we can continue to attract professional talent seeking quality places to live and recreate. The Regional Economic Framework forged a stronger relationship and alignment of values across planning and economic development which will result in smarter more targeted place-based strategies and priorities. 

4. Building a reimagined MSP economy means advancing inclusive growth

Racial inclusion and equity are our region’s greatest threat to economic growth and prosperity, something understood through analysis of regional economic data, particularly when benchmarking against peer regions. For this reason, racial inclusion is one of the nine strategic priorities identified by GREATER MSP, critical to our economic growth and competitiveness. Amid development of the Framework our region experienced the tragic killing of George Floyd and social unrest that followed. While this was a terrible incident, it led to a focus on systemic racism and racial economic injustice more directly than may have been possible before. The Center for Economic Inclusion provided extensive, much needed, direction in ensuring the Framework represented the depth and complexity of our region’s racial injustices and inequities that hold back the full potential of BIPOC businesses, workers, and learners. The Center ensured that the economic disparities faced by BIPOC communities and the leadership of BIPOC-led organizations were integrated into each of the nine strategic priorities of the strategic direction and action plan.

5. With an adopted Framework, now is the time to apply for millions in federal funding

In early March we set out to achieve a bold goal, to develop and adopt a document that would meet EDA’s funding eligibility requirements, and to do so in a timeframe that would allow eligible entities in the region to access critical COVID-19 disaster recovery funding. By adopting the Regional Economic Framework on August 12^th, all eligible entities across the 7-county region are now eligible to apply for and be approved for these critical pandemic recovery dollars. We are thrilled to hear that applications are already being submitted to EDA by cities, counties, and collaborations with nonprofit organizations in MSP. Applications have the potential to feed millions of federal dollars into our region for much-needed recovery assistance and resiliency planning.

If you have any questions about the Regional Economic Framework or applying for federal EDA CARES Act funding, please contact me at amanda.taylor@greatermsp.org. All three of our organizations are positioned to provide technical assistance and we collectively encourage all prospective applicants to include explicit racial equity goals in applications to EDA.  

While the development of the Framework came with the typical challenges, it was a pleasure to work with staff at the Met Council and Center for Economic Inclusion on this project. I want to specifically acknowledge and thank Mariia Zimmerman, Michael Larson, and Andrea Ferstan for their dedication and commitment to this important work.