Ka Wai Ola - Office of Hawaiian Affairs, Volume 12, Number 1, 1 January 1995 — Decapitated fish and five Maine principles [ARTICLE]

Decapitated fish and five Maine principles

The state of Maine has the nation's only independent govemor, whose campaign rested in part on the slogan, "A Maine fish doesn't leave the state with its head on." In other words, at every step of the product's saleresources and profits should stay in the community where they originate. That's one of the principles that's guided Coastal Enterprises, ine. (CEI), a non-profit community development corporation in Maine. CEI has mobilized over $100 million in financing for small businesses, technical assistance, social services and housing, microenterprises, child care services, and women in business. "We're not marginal anymore," said Ron Phillips, CEI's president and principal founder.

Phillips outlined five key principles that have contributed to CEI's success and that he believes are essential to success for community-based eeonomie development: 1. Asset deve!opment. You must attract and keep capital as well as distribute it. 2. Job creation. You must ensure that lowineome people ean access the benefits. 3. Planning. You must target strategic eeonomie sectors, sectors where you ean make a difference and where eeonomie potential is great. 4. Partnerships. You should develop pubhc and private partnerships. 5. Public policy. You must influence and direct public policy to support community-based lending and investmeni. EB