SEATTLE— The Puget Sound Regional Council (PSRC) has announced that the Economic Competitiveness Group, Inc. (ECG) and Global Insight, Inc. have been selected to assist with development of a regional economic strategy for the central Puget Sound region. PSRC Executive Director Bob Drewel announced the selection today.
"This is a great step toward launching the work needed to best assure our region's long term economic competitiveness by sustaining the collaboration the region exhibited in winning the Boeing 7E7 and applying those lessons to our future," said Drewel. "We were able to select from the world's most outstanding talent and this ECG/Global Insight team was the unanimous choice of our regional team."
The Economic Competitiveness Group and Global Insight team was selected in a competitive recruitment conducted by PSRC in partnership with the region's four economic development councils and others. The team was selected for their international experience. Past clients have included Joint Venture: Silicon Valley Network and the World Bank.
"We were very impressed with ECG and Global Insight and are eager to move forward with them," said John Powers, CEO of the Seattle King County Economic Development Council. "These are exciting times for the economic future of our region. All four economic development councils in our region, and many others, are together on this. We are confident this team can help us continue to mobilize together so we'll be ready to execute a comprehensive economic strategy in the first quarter of 2005."
The goal of the strategy is to develop a common vision for the region's economy and to focus on key components of it, including identification of important and emerging sectors and steps that should be taken to support and grow them.
The regional economic strategy is a collaborative public and private sector effort being developed in conjunction with the region's four private, non-profit economic development councils, serving King, Pierce, Snohomish and Kitsap counties), the federal Economic Development Administration, the state of Washington and other economic and civic interests. The first planning stages of the strategy will be launched next month. A regional economic summit is planned for fall. The region will be ready for implementing actions by 2005.
PSRC (http://www.psrc.org) develops policies and coordinates decisions about regional growth and transportation planning in King, Pierce, Snohomish and Kitsap counties. The Council is composed of over 80 county, city, port, transit, tribal and state agencies serving the region. It coordinates the distribution of about $150 million in Federal Highway Administration and Federal Transportation Administration funds each year. PSRC sets priorities and evaluates the most efficient ways to target those funds to support state and local transportation and growth management plans. PSRC joined forces with the region's Economic Development District in 2003.
Global Insight, Inc. (http://www.globalinsight.com/) is a privately held company formed to bring together the two most respected economic and financial information companies in the world, DRI and WEFA. Global Insight provides the most comprehensive economic and financial coverage of countries, regions, industries and markets available, using a unique combination of expertise, models, data and software within a common analytical framework to support planning and decision-making. With its April 2003 acquisition of World Markets Research Centre, Global Insight also provides the world's first same-day analysis and risk assessment service covering 185 countries and 4 industries, providing insightful analysis of market conditions and key events around the world. The company has over 3,300 clients in industry, finance and government with revenues in excess of $70 million, over 600 employees and 23 offices in 12 countries covering North and South America, Europe, Africa, the Middle East and Asia.
Title VI Notice: PSRC fully complies with Title VI of the Civil Rights Act of 1964 and related statutes and regulations in all programs and activities. For more information, or to obtain a Title VI Complaint Form, see http://www.psrc.org/about/titlevi/index.htm or call 206-464-6175.