Kitsap Economic Development Strategic Plans

December 6, 2012

Kitsap Peninsula Business Journal

The Kitsap Peninsula Business Journal discusses the alignment between the recently released Annual Report to the Kitsap Community by the Kitsap Aerospace and Defense Alliance (KADA) and the Prosperity Partnership’s recently updated Regional Economic Strategy:

“These strategic plans, critical to Kitsap’s economic future, are well aligned and coming together to guide our regional and local economic development efforts for generations to come.”

Economic Highlight – Entrepreneurship & Innovation

March 13, 2012

Over the next couple of months, we will be releasing economic highlights from our work on the Regional Economic Strategy Update. These highlights will cover information from both industry clusters and foundations of the local economy.

One way to measure the level of innovation in a region is to examine the level of utility patents that are issued to companies and organizations. Of the peers we measured, the Puget Sound region is second only to the Bay Area in terms of these patents issued between 2006-2010. Utility patents protect the function and abilities of an invention (think cotton gin), versus design patents which protect the ornamental design of a functional item (think the iconic Coke bottle design).

The Bay Area has more than twice the population (7.15 million) than the Puget Sound area (3.5 million) and produced more than three times the utility patents in the period from 2006-2010 (16,364 versus 4,660). Over that period of time, however, the volume of patents in the Bay Area increased by 26%, while the number of patents in the Puget Sound area increased by 79% – more than double the rate of any of the peers that we reviewed.

Locally, the bulk of the patents issued are from activities in King County. In 2010, 78% of the regions utility patents were from King County companies, while Kitsap County came in second with 13%.

Regional Economic Strategy – Opportunities Workshop Recap

October 24, 2011

On October 5, more than 75 community leaders gathered for an Opportunities Workshop at the Dome Room at the Arctic Club in Seattle. This workshop is an important element in the update to the Regional Economic Strategy, which relies on a comprehensive economic data analysis and a consensus-based strategic planning process.  

“The Prosperity Partnership’s strength comes from our partners,” said Bob Drewel, Executive Director of the Puget Sound Regional Council, “and they came together to share their best ideas on how we can shape the economic future of our region. We appreciate our partners continued efforts to advance regional economic development planning.”

Workshop participants enjoyed hearing about the research and data gathering being completed to help inform the update to the Regional Economic Strategy. TIP Strategies began with an occupational analysis to identify talent clusters to compare to the existing industry landscape. This analysis will help identify programmatic strategies the region can use to better support job growth and local industries. Occupations were measured by eight criteria, including job quality, critical mass, momentum, stability and outlook. Aerospace, Logistics and Infrastructure, Information Technology, Life Sciences, Business Support and Social Development emerged as the most promising from this analysis.

Promising occupational clusters and how they relate to industry clusters

Breakout roundtable discussions formed around economic opportunities that exist in the region and how to take advantage of them. Discussion topics included opportunities related to main economic drivers such as talent, innovation, industry, infrastructure and other regional assets. These discussions will help guide the development of the Regional Economic Strategy.

Working groups were formed on these topics: higher education and workforce, aerospace, business climate, physical infrastructure, and entrepreneurship and innovation. They will meet over the next few months to help further define strategies.

Stay tuned for more information on the Regional Economic Strategy update, which is scheduled to roll out in 2012.