EPISODE · Sep 6, 2024 · 32 MIN
138: Blending Non-Profit Values with For-Profit Agility: Bo Kemp’s Approach to Economic Development
from Econ Dev Show Podcast - Economic Development · host Dane Carlson
In this episode, Bo Kemp, CEO of the Southland Development Authority discusses his unique approach to economic development through a not-for-profit organization that operates with the agility and risk-taking mindset of a for-profit business. Kemp emphasizes the importance of failing fast and pivoting quickly to optimize programs and services. He explains how his organization is structured to evaluate and stop initiatives that aren’t delivering the expected impact, which contrasts with traditional non-profits that often have difficulty abandoning projects due to the lengthy fundraising and validation process. His goal is to take on the risks that for-profit businesses avoid, using innovative techniques like measuring social impact and partnering with businesses to drive wealth-building at the municipal level. Kemp also shares how his team is working to monetize their services by offering their proven models to other municipalities. For example, their business growth services could be replicated in cities like Tucson, Arizona, allowing other communities to benefit from their expertise and infrastructure without having to start from scratch. Kemp’s team uses tools like Salesforce and data science to manage relationships and measure success, which they are willing to share with other cities to support broader economic growth. The conversation highlights Kemp’s vision of blending for-profit efficiency with non-profit values to foster sustainable, community-centered development. Like this show? Please leave us a review here — even one sentence helps! Special Guest: Bo Kemp.
What this episode covers
In this episode, Bo Kemp, CEO of the Southland Development Authority discusses his unique approach to economic development through a not-for-profit organization that operates with the agility and risk-taking mindset of a for-profit business. Kemp emphasizes the importance of failing fast and pivoting quickly to optimize programs and services. He explains how his organization is structured to evaluate and stop initiatives that aren’t delivering the expected impact, which contrasts with traditional non-profits that often have difficulty abandoning projects due to the lengthy fundraising and validation process. His goal is to take on the risks that for-profit businesses avoid, using innovative techniques like measuring social impact and partnering with businesses to drive wealth-building at the municipal level. Kemp also shares how his team is working to monetize their services by offering their proven models to other municipalities. For example, their business growth services could be replicated in cities like Tucson, Arizona, allowing other communities to benefit from their expertise and infrastructure without having to start from scratch. Kemp’s team uses tools like Salesforce and data science to manage relationships and measure success, which they are willing to share with other cities to support broader economic growth. The conversation highlights Kemp’s vision of blending for-profit efficiency with non-profit values to foster sustainable, community-centered development. Like this show? Please leave us a review here — even one sentence helps! Special Guest: Bo Kemp.Sponsored By:Sitehunt: Sitehunt helps economic developers understand their sites, match them to projects, and respond with confidence in minutes instead of scrambling for days. Links:Bo Kemp | LinkedIn Southland Development Authority — The SDA is a non-profit business organization designed to grow the economy of the South Suburbs. Video - Southland Development Authority 2024 - YouTube Southland Development Authority | LinkedIn Southland Development Authority (@BuildSouthland) / X Southland Development Authority | Facebook Southland Development Authority (@buildsouthland) • Instagram photos and videos Southland Development Authority - YouTube
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138: Blending Non-Profit Values with For-Profit Agility: Bo Kemp’s Approach to Economic Development
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