Developing an enduring public-private-academia-civil society collaborative for a stronger and more equitable DMV.
BUILDING A STRONGER AND MORE EQUITABLE DMV
The DMV boasts a wealth of talent, institutions, access, and assets but lags in economic competitiveness vis-a-vis peer regions. Historically, our region’s development has been constrained by jurisdictional fragmentation, limited cross-sector coordination, and socioeconomic inequities. The COVID-19 pandemic has further highlighted the inherently regional nature of our economy.
GREATER WASHINGTON RANKS
out of 53 metropolitan areas (2008 – 2018)
25th
in growth
36th
in prosperity
40th
in inclusion
52nd
in racial inclusion
In July 2020, the COVID-19 Strategic Renewal Task Force commissioned a Regional Economic Development Strategy (REDS) to tackle these systemic challenges by proposing the basis for an enduring regional model addressing economic renewal and social equity.
REDS MISSION
To establish a regional alliance to shape a cross-sector platform to enhance cooperation, communication, and collaboration for equitable economic development.
Economic Development
Industry & Business
Jurisdiction Governance
Planning
Civil Society
Academia
REGIONAL
ECONOMIC
DEVELOPMENT
STRATEGY
Public Sector
KEY OBJECTIVES
Lay the groundwork for enduring regional economic development collaboration
Identify shared interests, complementary resources, and partnership opportunities
Explore joint actions across talent development, market strengthening and activation, regional branding and marketing, and innovation ecosystem development
Emphasize ways to address linkages between economic renewal and social equity
REDS GOALS*
ALIGN
regionally across DC, MD, and VA
POSITION
for long-term equitable economic success
FOCUS
on innovation, talent, and capacity building
ENGAGE
industry, government, academia, and civil society
around joint interests and a regional brand
UNITE
Goal
Guiding Principles*
ALIGN
Enduring:
Grounded:
Shared:
Building sustained and structured collaboration for regional economic development
Acting regionally to accelerate growth for all while remaining grounded in local priorities
Sharing functions to optimize resources and benefit all
POSITION
Visionary:
Equitable:
Data-Driven:
Driving innovative, bold, and improved outcomes for a higher quality of life
Prioritizing opportunity and growth in historically under-invested communities
Delivering with clear goals, metrics, and reporting for transparency and accountability
FOCUS
Innovative:
Cultivating:
Fostering:
Sustaining a robust and collaborative innovation environment that attracts investment
Developing, attracting, and retaining talent for a 21st century economy
Building capacity across organizations, sectors, and jurisdictions for greater impact
ENGAGE
Connected:
Shaping:
Diversified:
Engaging industry, academia, society & philanthropy in integrated planning & development
Creating cross-sector opportunities and engines of economic growth
Growing new and existing areas of specialization within the region
UNITE
Respectful:
Together:
Celebrated:
Maintaining prospect confidentiality and refraining from solicitations within the region
Creating one regional brand and marketing jointly to compete globally
Celebrating growth and development successes across the region
*Approved by the REDS Steering Committee in March 2021.
ESTABLISHING AN ENDURING COLLABORATION
REDS 1.0 will establish a regional blueprint geared at improving the competitive advantage of the region both nationally and globally. A Steering Committee comprised of regional public, private, non-profit, and academia leaders is providing guidance and oversight. A Working Group of volunteers from 14 organizations is developing actionable recommendations for a final REDS 1.0 report to be released in May 2021.
STEERING COMMITTEE
Public Sector & Economic Development Organizations
Fairfax County Economic Development Authority
Victor Hoskins
DC Office of the Deputy Mayor for Planning and Economic Development
John Falcicchio
Montgomery County Economic Development Corporation
Benjamin Wu
Prince George's County Economic Development Corporation
David Iannucci
Alexandria Economic Development Partnership
Stephanie Landrum
Regional Organizations
Connected DMV
Stu Solomon
Greater Washington
Board of Trade
Jack McDougle
Metropolitan Washington
Council of Governments
Chuck Bean
Consortium of Universities of the Washington Metropolitan Area
Andrew Flagel
Washington Metropolitan Area Transit Authority (WMATA)
Shyam Kannan
Washington DC
Economic Partnership
Keith Sellars
United Way of the National Capital Area
Rosie Allen-Herring
Washington Business Journal
Alex Orfinger
U.S. Deptartment of Commerce (former)
Matt Erskine
Industry & Community Organizations
Manufacturing
Tim O'Brien
Micron
Real Estate & Development
Bob Buchanan
The 2030 Group
Cybersecurity
Julie Xiang
Merlin International
Energy
Felecia Greer
Pepco
Hospitality
Name pending
Marriott
Tourism
Elliott Ferguson
Destination DC
Venture Capital & Private Equity
Phil Bonner
Ardent Ventures
Philanthropy
Travis Reindl
Bill & Melinda Gates Foundation
Research & Public Policy
Jeannette Chapman
The Stephen S. Fuller Institute, George Mason University
Academia
Dr. Anne Kress
Northern Virginia
Community College (NOVA)
