Governor Ivey Announces Research Partners Join Team Developing New Strategic Economic Growth Plan – Office of the Governor of Alabama
Governor Ivey Announces Research Partners Join Team Developing New Strategic Economic Growth Plan - Office of ... Governor Kay Ivey
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MONTGOMERY – New Strategic Economic Growth Plan for Alabama
Governor Kay Ivey has announced the selection of a consulting firm and two Alabama universities to assist in the creation of a new strategic economic growth plan for the state. This plan aims to guide Alabama into the next decade and beyond, with a strong emphasis on achieving the Sustainable Development Goals (SDGs).
Collaborating Organizations
- McKensey & Company: Conducts quantitative analysis of target sectors, develops strategies for innovation, entrepreneurship, business retention/expansion, and business attraction. Also engages with industry leaders outside of Alabama for qualitative analysis.
- Troy University’s Continuing Education and Outreach: Facilitates focus groups with internal stakeholders such as regional economic developers, private sector leaders, and business associations.
- Alabama A&M University’s Center for Educator Preparation and Certification Services: Provides an academic element to the qualitative analysis through extensive notetaking, review, and preparation of a final report based on gathered information.
The executive committee leading the development of the plan will also continue its partnership with the Hoover Institution, a leading economic policy research center.
Importance of the Strategic Plan
Governor Ivey emphasized the need for a strategic plan that prepares Alabama for the future and helps the state remain competitive in attracting game-changing corporate growth projects. The plan aims to capitalize on fast-paced changes driven by technology and achieve the SDGs by 2030.
Plan Development Process
The collaborating organizations will immediately begin conducting surveys, interviews with business leaders, focus groups, and evaluating strategies to shape the plan. They will also examine best practices, leverage industry studies, and explore enhanced levels of accountability.
Deadline and Replacement of Current Plan
The team has been given an ambitious deadline, with October 1 targeted for the delivery of the completed plan. The new plan will replace Accelerate Alabama, the state’s first-ever economic development strategic plan adopted in 2012 and last updated in 2017.
Next-Generation Strategic Plan
The next-generation strategic plan aims to have a broader focus and include new elements such as elevating human capital, spurring entrepreneurship, energizing talent attraction, and quality placemaking. Quality placemaking involves leveraging the state’s outdoor recreation infrastructure, which aligns with the mission of Innovate Alabama.
Governor Ivey’s Vision
Governor Ivey’s push for a new strategic plan follows the adoption of The Game Plan in 2023, a package of economic development bills that modernized Alabama’s playbook for facilitating economic growth. She envisions Alabama as a trailblazer that raises its economy to the next level, providing life-changing career opportunities and reaching new heights of prosperity.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 17: Partnerships for the Goals
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries.
- Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries.
- Target 11.4: Strengthen efforts to protect and safeguard the world’s cultural and natural heritage.
- Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- GDP growth rate
- Industry’s share of employment and GDP
- Investment in cultural and natural heritage preservation
- Level of multi-stakeholder partnerships and resource mobilization
4. Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries. | GDP growth rate |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries. | Industry’s share of employment and GDP |
| SDG 11: Sustainable Cities and Communities | Target 11.4: Strengthen efforts to protect and safeguard the world’s cultural and natural heritage. | Investment in cultural and natural heritage preservation |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources. | Level of multi-stakeholder partnerships and resource mobilization |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: governor.alabama.gov
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