NORMAN — What’s driving our economy? Deidre Myers, director of Policy, Research and Economic Analysis for the Oklahoma Department of Commerce, has conducted extensive research on the topic of economic systems in Oklahoma and will provide a special report and analysis on Norman’s ecosystems at the 2013 Economic Summit in Norman.
The Norman Economic Development Coalition is hosting the Summit from 9 a.m. to noon on May 2 at the Embassy Suites Norman.
“A community or a regional economy needs to understand how and where it makes its money,” Myers said. “That information helps policy makers and elected officials support those businesses and develop the workforce needed for those critical occupations.”
Economic systems, known in the industry as ecosystems, provide the greatest wealth generation, have the most growth potential and deliver the maximum competitive advantage for a state or a region to capture a greater global market share, according to NEDC.
Myers said the term ecosystems, also used to describe biological systems, is not a misnomer. Economic systems are more organic than people might think.
“It is very similar to an ecology. Businesses do not exist on their own,” Myers said. “It’s very important to understand how businesses relate to each other and to other entities. It’s a very synergistic environment. The value of the whole can be greater than the sum.”
“By using a systematic approach to our economy, elected officials and policy makers are able to prioritize resources, align policies and programs, and maximize outcomes,” NEDC reports.
Norman community leaders including representatives from the Norman Regional Health System, Norman Public Schools, city of Norman, Moore Norman Technology Center, the University of Oklahoma and the Norman Economic Development Coalition also will speak at the Summit.
The Economic Summit Session is open to the public with registration at $20 per person or groups of 10 for $150. To register, call Kizzie Moore of the Norman Economic Development Coalition at 573-1900.