Armed with a renewed vision and fortified mission, the Northwest Economic Council (NWEC) is on the offensive when it comes to economic development.
I sat down with NWEC board President Bruce MacCormack last month to talk about the organization’s new direction.
Formerly the Bellingham/Whatcom Economic Development Council, the organization changed its name and its leadership, and has emerged from a phase of reorganization re-energized to help grow business from within the county’s borders as well as attracting companies from further afield.
“We knew we had to rediscover ourselves and what our position was in this community,” MacCormack said. To that end, the organization commissioned a county-wide survey to understand the needs of business.
“People wanted someone to step up and create an economic strategic plan for the county,” he relates, which is now under way.
As Whatcom County’s recognized ADO (associate development organization), developing a “regional economic strategy” plan is part of NWEC’s duties. The plan involves the cities, county, port and utilities as well as other stakeholders and is set to be unveiled at the first of next year, MacCormack said.
As an economic development entity, the top priorities of the council are maintaining jobs, creating new jobs, helping small business and startups prosper and survive, and helping companies get funding, MacCormack said. He sees a lot of the economic development being generated by small- and mid-sized companies, rather than the big guys.
“A huge percentage of the way the economy is going to re-grow is through small business,” he said.
In that vein, MacCormack is most excited about the NWEC’s business accelerator program, the Innovation Resource Center (IRC). The IRC just received a $99,000 grant from the U.S. Department of Agriculture to fund the endeavor, which aims to help grow and mentor startup businesses.
Businesses selected for the IRC will not only share bricks-and-mortar infrastructure, but will have access to educational, government and business resources such as training, funding and mentoring.
“The attraction will be to come together and grow themselves in a safe environment,” MacCormack said. While most startups will be local businesses, they may also hail from other counties, states or Canadian businesses hoping to get a foothold in the United States, he added.
MacCormack predicts government funding for startups will become less prevalent, and hopes the private sector will step in to help drive economic development. “You’re going to see less emphasis on government funding in the future and more emphasis on private sector intervention,” he said, pointing to both Skagit County and Spokane as areas where the private sector is greatly involved economic development.
“We’ve somehow got to encourage greater participation by private business,” MacCormack said. And he doesn’t mean only on a financial level, but business leaders using their experience to coach new and growing small businesses.
Business leaders can engage with NWEC in a number of ways, including joining the membership organization, volunteering for a committee or advisory team, or simply sharing experience and opinions with the group. To learn more, visit www.nwecon.org.
NWEC searches for new leader
The Northwest Economic Council’s executive director for the last four years, Nancy Jordan, stepped down from the position in early July. NWEC Board Chairman Bruce MacCormack said a search is under way for a senior executive who will oversee the IRC, NWEC Foundation, the strategic economic plan and other organizational initiatives.