Innovative Local Economic Development – International Urban and Regional Cooperation

Our webinar series on Education, Jobs, and Skills involve IURC-NA cities and key stakeholders in a peer-to-peer learning environment to discuss and share challenges and best practices to build long-term learning, networking, and working relationships.

This second session focused on Innovative Local Economic Development- Programmes and Strategies for Post Covid-19 Recovery. The session was moderated by Tricia Hackett, Senior Sustainable Urban Development Expert, and included presentations from:

• Valentina Ridolfi – Rimini, Italy
• Ben Seigel – Baltimore, USA
• Gil Carvalho – Braga, Portugal
• Alex Minnella – Aurora, USA
• Federico Morábito – Mendoza, Argentina

During the webinar, we learned about the different strategies the cities have employed to support local businesses affected by the COVID-19 pandemic and how these plans and programs align with long-term objectives to boost the local economy.

These are the most important takeaways:

Rimini’s Strategic Plan for City Transformation:
- Post-WW2 development as a vacation spot for everyone.
- A decade of development creating a model aligned with global tourism trends.
- Current focus on constant innovation and reintroducing the destination to the world.
- Based on a new vision, strategic areas, and scopes of development.
- Medium to long-term horizon with continuous stakeholder participation.
- Six strategic scopes include seaside tourism, urban attractiveness, innovation, territorial recompositing, urban mobility, and welfare.
Competitive Adjustments and Investments in Rimini:
- Analysis of weaknesses led to identifying a loss of brand value, which was addressed through the Strategic Plan.
- Investments of 150 million euros to revitalize the historical city center and transform 300 hectares of waterfront with public and private funding.
Post-Pandemic Tourism Revitalization in Rimini:
- Task force created during the pandemic to rebrand and revitalize tourism.
- Action Plan focuses on overcoming business fragmentation and creating the Villages of the Sea Park.
- Three-step process involving “evangelization”, selection, and training to develop supply chains for entrepreneurial growth.
Baltimore’s BASE Network Supporting Small Businesses:
- Creation of BASE (Business Assistance and Support for Equity) to reach businesses not accessing recovery packages.
- Strategic Plan includes a technical assistance network, partnerships, and financial assistance programs.
- Implementation of a $25 million ARPA Economic Recovery Fund Program for small businesses.
- Technical assistance and small business grants aimed at serving 7000 businesses in 2022-23.
Thematic Cluster Presentations:
- Invest Braga’s GATE project in Portugal assisted local businesses during COVID-19 with a digital platform and financial aid.
- Aurora, USA, responded to real estate challenges with long-term urban planning, public-private partnerships, and infrastructure projects.
- Mendoza, Argentina, focuses on post-pandemic sustainable economic development through the “Mendoza Activa” project supporting private investment, technology incorporation, and employment generation.