There is more to successful economic development than aggressive recruitment, doling out incentives and putting down new utility lines and roads. A lot more.
That was the message this week from consultants for Ocala/Marion County business leaders who are orchestrating the merger of the Chamber of Commerce and the Economic Development Corp. To be competitive, said Jon Roberts of TIP Strategies of Austin, Texas, requires a "holistic view" that creates a unified strategy for both "short-term fixes and long-term transformational initiatives." More here.
Place marketing means designing a place to satisfy the needs of its target markets. It succeeds when citizens and businesses are pleased with their community, and the expectations of visitors and investors are met.
The potential target markets of place marketing are defined as place customers, which are producers of goods and services, corporate headquarters and regional offices, outside investment and export markets, tourism and hospitality, and new residents.