Arming Cities with Market Intelligence: Applying the Inner-City Market DrillDown Tool in Johannesburg and Bogota

Thursday, March 12, 2009
2:00 pm - 3:30 pm 

Videotape of session (.wmv file)

This session explored the application of data mining techniques pioneered by Social Compact using their proprietary Neighborhood Market Drilldown tools.  Social Compact has uncovered more than $33.5 billion in missed market opportunities in 20 cities across the United States and United Kingdom.  Their approach recognizes important market information gaps due to undercounting by census and other conventional data.  Their work has helped facilitate new investment in underserved markets in deprived inner-city areas by banks, retailers and developers, creating jobs and improving access to affordable goods and services.  This private investment has helped cities expand their local revenue base.

Social Compact has uncovered more than $33.5 billion in missed market opportunities in 20 cities across the United States and United Kingdom. Their approach recognizes important market information gaps due to undercounting by census and other conventional data. Their work has helped facilitate new investment in underserved markets in deprived inner-city areas by banks, retailers and developers, creating jobs and improving access to affordable goods and services. Cities have proven to be the greatest promoters and users of Social Compact's work with the aims of attracting investment to enhance their local revenue base, create job opportunities in the innercity, and to target the urban poor in particular with access to better private sector delivered services. Application of such approaches can help to reduce predatory lending practices in underserved areas and provide access to fresh produce and higher quality products that can improve health outcomes.

The session reviewed Social Compact’s experience in the US and abroad, provided insights about the data mining techniques used, and updated participants on the progress to date in planning and implementing two pilot Market DrillDowns in Bogota and Johannesburg.  This initiative is being carried out in partnership with the Cities Alliance.

Chair
Stephen Karam, Sr. Urban Economist, World Bank

Presenters
John Talmage, President and Chief Executive, Social Compact
Presentation  PDF

Olga Stella, Vice President for Business Development, Detroit Economic Growth Corporation

Taimur Samad, Urban Specialist, World Bank
Presentation  PDF

John Talmage joined Social Compact as deputy director in January 2006, before his appointment as president and chief executive by the organization’s board later that year. Under John’s leadership, Social Compact has greatly expanded its DrillDown market research program, which documents the market strengths of communities throughout the United States. In response to the challenges facing underserved urban markets around the country and abroad, John continues to coordinate the development of Social Compact’s next-generation of DrillDown tools and practices that contribute to innovation in the community development field. Prior to joining Social Compact, John served as the Deputy Director for Economic Development for the City of New Orleans. John focused on business development issues for the city, including workforce development, international trade and business recruitment and retention. Before joining the mayor’s staff in New Orleans, John was in New York City, working primarily for the city council. While in New York, John collaborated with communities throughout North Brooklyn to address economic development, housing and land-use matters.

Olga Stella is Vice President for Business Development at the Detroit Economic Growth Corporation. In this position, she helps lead DEGC’s business attraction and retention efforts on behalf of the City of Detroit. Olga has previously held positions within DEGC that focused on policy development, special initiatives, strategic partnerships, and project management. Prior to rejoining the Detroit Economic Growth Corporation in 2007, Olga served as Chief of Staff for State Representative Steve Tobocman. As Chief of Staff, Olga handled Representative Tobocman’s policy agenda, communications, and community initiatives. Their work focused on economic and community development, neighborhood revitalization, immigration, and social justice/civil rights issues.

Taimur Samad is an Urban Specialist working in the LAC Region. He is the Task Team Leader for the Bogota Drilldown Pilot and will review the conditions and circumstances that triggered the interest of Bogota officials in implementing a Drilldown, as well as the planning considerations as the pilot is being prepared for implementation. Social Compact Website Link: http://www.socialcompact.org/