Quality of life… we talk about having it, but so does every other community, no matter how disparate. We try to name our assets and hope that it matches with our target market’s idea of quality in their (or their employees’) lives.
One tool that I have been following with some interest (see Strengthening Brand America blog post) is the American Dream Composite IndexTM. It utilizes surveys of exiting residents to determine their opinion of to what degree they are achieving the ‘american dream’ specifically along five areas, Economic, Well-Being, Societal, Diversity and Environment.
Tennessee did not score particularly well on the 2013 ADCI. However, many of the components measured have been worked on the past year in Cheatham County and will be more formally structured and tracked by our participation in the Tennessee Department of Economic & Community Development’s Three Star program.
About Daryl Phillips, CEcD
I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS).
Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee.
I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers.
I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
Daryl – First, thanks for following the American Dream Composite Index work. EDOs around the nation are beginning to think through the implications of focusing on better enabling residents to achieve their American Dream. The discussions are very different than the past and very exciting. Second, I am optimistic, with aspects of the state’s Three Star Program focused on addressing the drivers of the American Dream, that Tennessee’s 2014 ADCI scores will improve. Shifting the ED profession’s paradigm to “resident is boss” will well serve both Tennessee and employers doing business in the state. Sustained focus on resident as boss will help Tennessee become a magnet for top talent and in turn additional capital investment.