Civic leaders and foundations working to improve regional economic competitiveness can achieve better results by partnering with stakeholders from multiple sectors, a report from Fund for Our Economic Future and the John S. and James L. Knight Foundation argues.

 The report, Catalyzing Regional Economic Transformation: Lessons From Funder Collaboration in Northeast Ohio (27 pages, PDF), charts the development of the Fund for Our Economic Future, a funder collaborative launched in 2004 to address growing poverty and unemployment in Northeast Ohio. Through the fund, twenty-eight philanthropic organizations committed a total of $30 million over three years to bolster the economic competitiveness of the region. Since then, the collaborative has grown to more than fifty members, awarded more than $90 million in grants, and invested more than that in the form of economic development grants, including a total of $141 million in 2011 and 2012. The collaborative also has helped the region attract or generate more than $100 million in federal and state support, $2.2 billion in new capital, more than 12,000 jobs, and nearly $400 million in new payroll.

At the same time, the report's authors note that the fund has struggled to successfully address issues such as business retention, talent development, and economic inclusion. The report also highlights lessons learned for foundations with respect to fostering effective collaboration; encouraging partners from other sectors to apply jointly for federal and state grants; going beyond their roles as grantmakers and convening forums for citizen engagement; engaging private-sector partners to not only inform but implement strategy; and staffing the effort with full-time staff who have competencies in thought leadership, convening, and research and analysis.

"Funders and institutions are increasingly realizing the importance of addressing complex economic and social issues through greater collaboration. This report identifies ways to increase the effectiveness of funder collaboration," said Jon Sotsky, director of strategy and assessment at the Knight Foundation. "The lessons, based on almost a decade of work at the fund, including successes and struggles, can be tremendously valuable for businesses, nonprofits, and governments who adopt collaboration as a way to strengthen economic opportunity."