Bruce Kendall: Economic Development

The Chief Executive Officer of Economic Development Board of Tacoma-Pierce County, Bruce Kendall, visited our class and spoke about his company and plans for the Tacoma-Pierce region. Bruce leads a 'not for profit' company (501-(C)(6)) that garners its funding through voluntary 'pledges' from both private and public institutions. The focus of his business is to stimulate economic growth and development in this region by helping companies bring their business here. Bruce wants to focus on companies that will bring in 'external' money – cash flows from sources outside our region streaming into our region. Bruce is also focused on larger, more establish and stable companies. A large part of what Bruce's company does is road block clearing. Talking with companies, encouraging them to bring their business to our region, and then helping them clear any road blocks, financial, legal or otherwise, preventing them from coming. Bruce's focus is in five core areas: clean water, cyber security, logistics, medical services, and aerospace. Attracting companies in these areas will help accelerate economic growth in the region because the infrastructure for those businesses is in place, and mature. The part I found most interesting about Bruce's talk is that he doesn't provide any direct service or product to the region, yet private companies will give him money. Not as investments, or as donations, but as “Pledges” that help his company continue to provide the indirect service to the region that Bruce claims we need.