10-24-11 Council Agenda & Packet

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To: Project Future Board of Directors From: Philip A. Newbold, Chairman Re: Transition Plans Nearly 30 years ago, a small dedicated group of concerned community leaders gathered to better organize and dramatically improve the community's economic future. Project Future was launched and over the past three decades has been tirelessly working to attract and create jobs and improve the economic well being of the area. As technology and globalization have changed all our daily lives and our economy,we are faced with significant changes which require a more regional and more technology based future. Whereas Project Future has spent a great deal of its successful efforts on attracting new businesses to the community and helping existing businesses expand and grow, it now seems more strategic to focus more of our resources on new business startups and to commercialize more of the technologies coming out of Notre Dame and Indiana University. The biggest transition is to announce that Pat McMahon, our talented Executive Director, will be focusing the majority of his time in an expanded role that has evolved from the Michiaaa Technology Connection(MTC) evaluation and planning exercise. Pat will focus on several of the MTC's strategic recommendations,working to create stronger bridges between Notre Dame's expanding research centers and our communities. Pat will report directly to Bob Bernhard,Vice President of Research, as Notre Dame takes steps to enhance its capacity to support the transformation of new concepts and big ideas into new ventures and expanding businesses. Pat will also spent a portion of his time assisting in the transition of our traditional economic development activities into a combined regional/local structure. Pat played a strong role over the past two years with several regional development professionals to create a platform for a larger, multi-county marketing umbrella. His "second"job will be to assist in the evolution of strong local initiatives that will work closely with these regional partners. The Executive Committee of Project Future has been quietly working with the Chamber of Commerce of St. Joseph County to explore how to best position the county and the region for growth over the next decade. A small group of Project Future Board members will be working with the Chamber to develop a more coordinated and expanded role around business retention, attraction and growth for South Bend, Mishawaka and St. Joseph County, and how those activities complement regional efforts. More details will emerge over the next several weeks as we better define roles,responsibilities, funding needs, and leadership. Finally,there are two new organizations that are also active and critically important to our regional economic development future. Jump Start has recently developed a new Regional Economic Assistance Plan (REAP) and the Corporate Partnership for Economic Growth(CPEG) will help coordinate,focus and accelerate economic development across a seven county region of north central Indiana and southwest Michigan. What is clear is that we continue to need your longstanding leadership and financial support. Project Future has been the envy across the state of the private,public and nonprofit partnership that has enabled the area to be successful and work together. As we enter this new transition phase, we will continue to provide new details on our plans and leadership as they emerge. Thank you again for your unwavering support of Project Future and we look forward to a stronger and more vibrant economic future. —..m..-K..v_-• -wM- OCT -19 2011 CITY CLERK,SOUTH BnWD,W