Community Economic Development Strategic Planning: Growth and Development, A Case Study

Abstract

This case study describes the use of analytic techniques to assist the community of Hibbing, Minnesota with economic development strategic planning. Based on best available data, the study suggests industries that might be targeted for the community of Hibbing, according to Michael E. Porter’s competitive advantage elements of factor conditions, demand conditions, firm strategy, and related and supporting industries in the community, advanced in his 1990 book, The Competitive Advantage of Nations. The report attempts to answer the question: What niches are implied by Hibbing’s current structure and trends? The data used are taken from the IMPLAN software system and data purchased specifically for this analysis; assertions are data driven based on employment information. The observations represent a first step to industrial complex analysis – the analysis of possible areas for future growth and development. As we propose in the paper, the results of the analysis of competitive elements should be used as a basis for a public-private partnership aimed at recruitment, expansion, retention and creation of businesses in the community.