Sam:

With all due respect, this one-size-fits-all statistical approach to economic development is likely to fail because it is unable to match the unique qualities of our economy and the rapidly changing nature of our economy.

In many ways Portland is a statistical anomaly. We have the highest unemployment, but we keep attracting people. Our business costs are high, but companies are posting banner results this year. The strict land use policies constrict available land for economic growth, but companies interested in moving here are undeterred. The information-based portion of the economy is huge, but Portland has a relatively high percentage of basic manufacturing at its core. And the percentage of "creative" workers is exploding. As a result standard economic measures do a poor job of capturing the economic dynamics that drive this city. And to the extent that economic development policies are designed to deliver results against these ill-fitting metrics - we will promote an economic future that is not what we want.

"Minority and women business ownership matches percent of minority and women in local population"? Is there anywhere in the world that even comes near to meeting such a standard? This seems like social engineering - thinly disguised as economic measurement.

Moreover, we live in a world where external factors, both state and global affect our city's performance. Salem's failure to solve the education disinvestment and rising oil prices affect us. Tracking performance to metrics over which we have no control is an excercise in futility.

This seems like another case of: "For every complicated problem there is a very simple and very wrong answer". I believe a better approach is to invest in effective economic development initiatives and focus less on casual metrics. Let's admit that Portland is a special place that deserves custom solutions that will not likely match these standard metrics.

Jim T