Published: December 19, 2008
California Economic Leader Summoned by Obama Transition Team
Wayne Schell, President and CEO of the California Association of Local Economic Development (CALED), received a request from an Obama transition team leader to gather a group of stakeholders to present policy and tactical recommendations on infrastructure and job creation to the Obama team in Washington, D.C.
"It's not often you get a request like that. I was impressed that the Obama team reached down to the real practitioners who know economic development at the local level and can offer sound advice to stimulate jobs and much needed capital for local communities," said Schell.
Schell was tapped by Rosie Rios, who is responsible for public affairs, policy and planning for the Obama Treasury/Federal Reserve Transition Team and serves as a CALED Board member. Rios, who worked as a volunteer on the Obama campaign, currently is on leave from her job as managing director of investments with MacFarlane Partners in San Francisco, a real estate investment management firm.
After receiving the request, Schell quickly went to work and placed at the top of his list Jeff Finkle, CEcD, President and CEO of the International Economic Development Council (IEDC). Together, they convened a group of ten professionals who shared their views on the implementation of the economic stimulus package. In addition to CALED and IEDC, organizations represented at the meeting were Community Reinvestment Fund, Council on Competitiveness, National Association of Development Organizations, National Association of Development Companies, International Downtown Association, Association of Defense Communities and Council of Development Finance Agencies.
According to Schell, "The Obama team was interested in the 'how'...how to get money on the street fast and determine the criteria for the best and most reliable sources of funding. Like CALED, the Obama team is interested in short-term projects that put people to work and help long-term economic development.
The meeting between the group Schell and Finkle assembled and the Obama transition team took place on December 16 in the nation's capital. Among others, Schell proposed the following federal stimulus recommendations:
Focus stimulus dollars on economic development and ask the question, "Will the project stimulate business development in the short term as well as the long term?"
Establish a special state/local economic capacity fund to help cover the cost of existing economic development organizations to identify, sort and package business development infrastructure and lending projects.
Stimulate the private market using federal funds in a way that will leverage credit enhancement and loan guarantees through existing federal organizations (i.e., Small Business Administration, Housing and Urban Development and EDA).
Stimulate workforce development and fund community colleges to provide "Demand" training.
Use the federal Economic Development Administration (EDA) as a major vehicle to deliver local economic development projects.
Briefing papers presented by Schell and other members of his group will be posted on CALED's Web site. Schell praises Obama and his team for being open and moving information into the public's view.
"Frontline practitioners are not often invited to the table until after decisions are made on what will be done," said Schell. "It's one thing to talk about the need for funds to fix something and another to find out how that money will be used and work out the process on how it's going to happen up front before the plan is finalized. We appreciate that the Obama transition team is reaching out to people who are 'doing the do.'"
CALED is a statewide, professional economic development organization dedicated to local economic development. Its more than 1,000 members represent cities, counties, state and federal agencies, economic development corporations and the private sector. These include developers, economic development directors, city managers, realtors, finance consultants, marketing experts, redevelopment professionals, utility representatives, bankers and many others.
For more information, visit CALED at www.caled.org.
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