Ron Kitchens with Daniel Gross and Heather Smith
Community Capitalism is a fascinating book about how Kalamazoo, Michigan has leveraged community resources and spirit to revitalize its economy in the face of the massive forces of globalization. Weaving in compelling stories from around the world, the book outlines a revolutionary new economic development strategy that leaders of all stripes can embrace to re-imagine a better future for their communities and organizations.
Ron Kitchens
Ron Kitchens serves as the Chief Executive Officer of Southwest Michigan First, as well as the Managing Partner of the Southwest Michigan First Life Science Fund. With more than 25 years of experience in economic development, he has been a businessman, city administrator, elected official and staff member to United States Senator John Danforth. Kitchens, who is a graduate of Missouri State University and the University of Oklahoma Economic Development Institute, is a certified economic developer and has been featured in the Wall Street Journal, the Economist, Fast Company and dozens of other regional and national media.
Daniel Gross
Daniel Gross, the long-time “Economic View” columnist for The New York Times and “Moneybox” columnist for Slate, has contributed to dozens of magazines and newspapers, including Fortune, New York, Wired and the Washington Post. His books include the best-selling Forbes Greatest Business Stories of All Time and Pop! Why Bubbles are Great for the Economy. Gross was educated at Cornell University and holds a masters degree from Harvard University.
Heather Smith
As Vice President of Communications at Southwest Michigan First, Heather Smith focuses on aligning the organization’s communications strategy with the business and community environment. She is a graduate of Yale University with a Bachelor of Arts in History with honors, and worked previously at Accenture.
EPILOGUE:
COMMUNITY CAPITALISM
THE CHALLENGE
Community and economic growth is often discussed in terms of sole strategies. These strategies are often based on the latest perceived fad. While the majority of these strategies are correct, they were never intended to be sole solutions to growing and developing an economy.
THE RESPONSE
Community Capitalism, using Kalamazoo, Michigan as the primary example along with stories from regions around the world, represents 20 years of study and observations about what the crucial elements of successful regions are and how those elements are delivered.
THE FINDINGS
Community Capitalism will surprise many with its simplicity and how easy it can be for nearly every community around the globe to achieve success with this approach. The stories contained within the book demonstrate that a community need not have access to great wealth to succeed, but only a commitment to success itself. The key findings of Community Capitalism include:
Place: More than any other time in history, people have the choice to live where their surroundings meet their cultural, civic and human needs. Increasingly, communities that succeed are those that develop a sense of place for those who currently live there, as well as those they hope to recruit.
Capital: It is about money. Companies cannot grow without it. People will move to access it. Communities that succeed will find ways to ensure the flow of capital is maintained to meet the needs of individuals and companies.
Infrastructure: The infrastructure of growth is no longer water or sewer lines. Today, the infrastructure of growth is engineering schools, high-tech incubators and research institutions.
Talent: Gone are the days when advanced economies can focus on natural resources or low cost. The number one indicator of sustainable success is now the creation, development and development of talent.
Education: Great minds do great things. Communities that succeed will increasingly focus on access to education that is relevant, lifelong and delivered in a manner that encourages the recipient to make the community home for life.
Many of the findings of Community Capitalism fly in the face of those who want to believe there is a “white knight” of an economic development strategy that will bring prosperity into their community. By investing in the five Community Capitalism strategies, communities will ensure their ability to not only prosper, but also to thrive in a changing economy.
