SMART Community Review (SCR) SMART Community Exchange 2018 Program | Page 5

SMART Growth Economic Development
A SMART growth economic development strategy might build
upon and improve conventional economic development
approaches.
The mega trend of Smart Communities is set to drive urban
development for the next decade and will drive demand for
SMART growth Economic Development, SMART Workforce
Development & Training, SMART Education, SMART
Community Concepts, and new Business Models.
North America will continue to dominate the global market for
SMART city technologies. Investment rate in North America
will increase from $118.5 billion in 2016 to $244.5 billion in
2021. Technology ubiquity, advanced investment, and
organizational models in U.S. cities will drive investment.
There are currently over one hundred SMART community
projects, and more than six hundred communities, are set to
go SMART in the next few years.
Supporting
Businesses
Supporting
Educators
SMART
Supporting
Workers
SMART Growth
Supporting
Quality of
Life
Economic
Development
Many communities are finding success cultivating a
competitive advantage by using their unique assets to attract
new investment and support existing businesses. These
place-based assets might include residents and their skills;
local architecture and infrastructure; academic, technical, and
medical institutions; local and regional business and
employment concentrations; cultural, natural, and artistic
resources; and general quality of life. What distinguishes
SMART growth economic development from conventional
economic development is the emphasis on building on these
existing community assets, rather than pursuing jobs or tax
base growth without particular regard for location or synergies
among existing assets.
SMART Communities Need A SMART Workforce
SMART communities need a skilled workforce with training
and experience that is in demand to succeed and continue
SMART growth. SMART workforce development is important
to ensuring that residents can successfully compete for 21st
century employment opportunities and benefit from SMART
growth. The availability of a SMART workforce can also help
retain existing businesses, help businesses grow, and attract
new investment, businesses and industries.
SMART Workforce Development & Training
Our SMART Workforce Development & Training program is a
cloud-based AI learning platform developed in close
collaboration with SMART community participants. The
program is designed to support businesses, workers, and
educators, to ensure that residents can access 21st century
job training programs that teach job-specific technical skills.
Local educational institutions and job training centers can be
key partners in achieving SMART workforce development and
training goals in communities where we operate. Visit
www.SMARTCommunityExchange.com to learn about
SMART Community Exchange, or click HERE to learn how
your organization or enterprise can participate in SMART
Community Exchange (SCE) partner programs.