One of the more interesting, and hopeful, aspects of the recession has been the willingness of local communities to take increasing charge of their own economic futures. Across the State there are initiatives which range from helping the creation of local businesses among the recently unemployed to providing targeted supports for local entrepreneurs. These initiatives seem to suggest a new willingness to take local responsibility for economic development. Local expectations that the efforts of the IDA can reduce the overwhelming level of unemployment are no longer prevalent. Increasingly, and thankfully, there is a movement towards taking charge of local economic initiative through the local government and local development sectors in Ireland. The taking in hand of local responsibility is of course building on an already well established history of initiative with the enterprise boards and local development companies. What is notable now however is the increasing inter-agency co-operation, often facilitated through the city and county development boards. This provides some optimism that a combination of efforts at local and national level can return Ireland to what it had lost during the latter half of the Celtic Tiger era, i.e. a country focused on real economic activity based on innovation and entrepreneurism rather than the more aptly described “blister”, property-focused, economy of the final years of the last decade.
Among the many initiatives that stand out are those taking place under the guidance and leadership of Waterford City and County Development Boards. Bubbling away, almost unnoticed by national media and commentators, are a range of practical actions which will help the City and County, and the wider South-East region, to create sustainable economic activities which are central to a vibrant community. The members of the Boards are drawn primarily from the local government and local development sectors. It also has active participants from the community as well as the state agencies operating in Waterford. In the City, under the headline “Doing it for ourselves” the Board have produced high quality and evidence based material to support employment initiatives. These are targeted at both indigenous entrepreneurs and the foreign direct investment sector. However more than the provision of information and marketing materials, the members are undertaking direct actions to meet existing, and support potential, industrial and service based employers in the Region and internationally. The Boards are working with a wide range of businesses, local and international, to explore the opportunity for further investment.
Building on the already successful businesses of Waterford, the Boards are working across the state support agencies and local resources to enhance the name of Waterford in the international market place. They do, of course, have the unique selling point in Waterford Crystal, one of the most instantly recognisable marques across the globe. The near loss of this iconic name has provided a remarkable impetus for the City to radically re-position itself. The City no longer sees itself as dependant upon others to meet its long-term economic or social future, a lesson well-learnt from the closure of Waterford Crystal in 2009. The renewal of this icon of the City was largely driven by local initiative through the City Council and local business working with the new owners of the Waterford Crystal name to bring crystal making back into the heart of the City. The impact the new design centre is having is plain to see. Not only is there the physical and financial impact but more significantly it does seem that the success of the centre is having a considerable, positive, effect on confidence, that great unknown in the economic life of a community.
Among a remarkable array of actions which are now having a measurable effect, in and around the city and county, are:
• The Waterford City Tourism initiative: A new website and map for Waterford City has been produced which will help promote Waterford City to visitors and potential visitors. In addition, a Product Development Committee has been set up. It is working to enhance the tourism product offering in and around the City. The Committee is also working with family fun providers and accommodation providers to enhance the tourist offering. A Festivals and Events Committee is working towards developing a number of national scale events by upscaling existing festivals in Waterford and is playing a major role in the Tall Ships Festival.
• Promoting entrepreneurial activity through ‘Deise Den’ Start your own business competition with a prize fund valued at €25,000: The Business Support Unit (BSU) of the City Council has taken the role of driving a competition to foster entrepreneurial culture locally and to create a real opportunity for entrepreneurs to start up a new business. A notable feature of the initiative is the willingness of other agencies to work together with the BSU including Waterford City Community Enterprise Centre, Waterford City Enterprise Board and the private sector. The BSU secured WLRfm (the local radio station) as a media partner thus providing the opportunity to communicate the opportunity across Waterford.
• Improve International Links with Erie, Pennsylvania, particularly Mercyhurst College: In the County the Development Board has facilitated greater inter-action with the United States, building on existing close cultural relations. More specifically the County is working with Mercyhurst on the possible development of a campus building on existing out-centre activities of the College. Already students and academic staff of the College have had programmes in Dungarvan, providing a real financial input to the local economy.
• Development of a business focused information web-site: The City Board has launched a particularly good business reference point. The site provides those doing location intelligence audits, particularly for international investors, with a one stop shop. It provides a model, (fortunately being increasingly replicated across the State but still some way to go), for all local promoters of business development. International investors just do not rely on IDA information when it comes to making investment decisions on locations for new development. They do check out locations on a regular basis and having a high specification web-site does provide an advantage.
The City and County now have the necessary social, cultural and environmental assets to sustain a high quality of life. In an initiative to bring this into the information mix, the City Board have produced a high quality production, based on both professional and amateur photographs, of life in Waterford which is made available to potential investors. One flick though this instantly conveys the area as a high quality location for living and investment.
The initiatives above along with the many others not covered here, convey a further message to potential investors, i.e. that this particular area has the confidence in itself to grow sustainably. The two Boards have underpinned this message by putting their resources into a high quality and rolling programme of investment ranging from incubator units to web-sites which are being properly maintained. This costs money and the fact that the members of the Boards, and notably the local authorities and local development bodies, have put this money together demonstrates to investors that Waterford is a place to invest in.
Lessons for others to follow?
