News Releases

A Kansas County asks students for economic growth ideas

Tuesday, February 16, 2010

BY WAYNE LARSON

University of Kansas School of Business students recently helped the Miami County, Kan., Economic Development department figure out how it could make its economy grow as fast as its population. "When even the successful counties and cities are struggling you know that America is truly facing some difficult economic times," said first-year Masters of Business Administration student Matt Goehausen.

School of Business Director of Entrepreneurship Programs Wallace Meyer's class was chosen to do the study because Miami County wanted an outsider's view on its economic operations. Janet McRae, the county's Economic Development department director, said the students also provided the county with a younger perspective. "Often times we're too close to it," McRae said when talking about the department's view on its county.

The students embraced the idea of an outside prospective. In fact, they went more than 500 miles northeast to Kendall County, Ill., to provide Miami County with an outsider's view on its economic operations. A "like-market approach" identified the Illinois county as a model for fast growth strategy, Goehausen said. "Kendall had been the fastest growing county in the country and it has many similar characteristics to Miami," he said.

The Economic Development department has started a conversation with Kendall County, and the dialogue has been helpful, McRae said. The students recommended Miami County use the same revolving loan fund concept that Kendall County has used so successfully. Revolving loan funds would help start-up businesses and embrace small town lifestyles, Goehausen said.

Additional student recommendations included creating a public transit system between Miami County and Overland Park, Kan., and trying to attract companies from outside Miami County to do business with companies inside the county.

"I think our county commissioners were intrigued," McRae said when commenting on the student's ideas. "They appreciated the prospective the students provided."

Learning experiences were shared by both parties involved in the semester-long project. Goehausen said he enjoyed working with a governmental entity. "The project taught me lessons that I will use in the future should I go into any type of consulting position."