A new campaign was unveiled Tuesday to lure large companies to Northwest Iowa. It's called "Beyond Expectations" and it's a joint effort from economic development leaders in six local counties.
Cherokee, Lyon, O'Brien, Osceola, Plymouth and Sioux Counties will now be marketed as one region.
Local business leaders, development leaders and elected officials gathered at Northwest Iowa Community College Tuesday night to hear campaign organizers present a new plan to attract, retain and grow business investment in a six county region.
"To build upon the strengths of each of our counties and communities and regionalize those efforts so that we're more competitive," says Gary Tucker, Plymouth County Econ. Dev. Director.
Targeted companies are those that are compatible with the region's current industries.
"Distribution, logistics, companies in the advanced manufacturing area as well as biosciences," says Tucker.
And the list of incentives to move to Northwest Iowa seems endless.
"We have a quality, dedicated workforce. We have infrastructure. We have ready to build sites. We have industrial parks. We have state incentives, local incentives," says Kiana Johnson, Chair of NW Iowa development campaign.
But while campaign organizers promote Highway 60 as a key Midwest transportation corridor, they also assure neighbors that a boom in big time business won't bulldoze the region's small town values.
"This is just like any other community or county working toward economic development but instead we're doing it regionally," says Johnson.
For detailed information on the campaign click here: http://www.northwestiowa.org/index.html.
Monday, September 22, 2008
Five Keys to Effective Economic Development Marketing
By Steve Vierck, CEcD, President/Economic Development
AngelouEconomics
Getting the attention of your targeted business prospects is a difficult task in the best of situations; battling 13,000 competitors makes it substantially more so. Unfortunately, that is the challenge faced today by economic development professionals. Because of this increasingly intense competition, it is imperative for economic developers to do all in their power to elevate above the competition in order to achieve meaningful results. Angelou Economics has observed that the following five marketing fundamentals can make the difference between great success and mediocrity.
1. Measure results
Knowing what you want to achieve and how to determine whether you are ultimately successful is where the most effective marketing programs begin. Most successful economic development organizations have meaningful performance objectives as their starting point. This means not only tracking final results, but also the effectiveness of your various approaches to generating and converting leads, prospects and locates.
To help evaluate which elements of the marketing mix are most cost effective, try to calculate “dollar to dollar” results from the marketing initiatives which you carry out. One way to do this is to divide expenditures for a particular marketing category, such as advertising or sales trips, by the results generated, in order to derive an average cost per lead or prospect. For instance, your year’s advertising in a particular site selection magazine may yield one lead per every $600 spent while an annual sales trip to a key market area may generate on average one lead per $800. Recognize that some prospects and leads will result from a combination of different elements of the marketing mix.
Along with clarifying your best lead generation approaches, you’ll discover that some approaches are more effective than others at generating quality prospects; the type that may ultimately become locates. Conversely, you may also determine that an approach where you’re spending valuable marketing dollars churns up numerous leads - but few ever come to fruition. Using the previous example, you might find yourself generating numerous leads through advertising, but discover that few ever turn into qualified relocation prospects that actually visit your community or region. On the other hand, the annual sales trip with face-to face meetings may not generate many leads but those that do develop often end up locating in your community.
Once you’ve fine tuned the types of marketing used to generate leads, conversion rates are a useful technique to gauge how effective you are in working with those new clients. Conversion rates are essentially a tool to measure your organization’s efficiency in converting potential customers into new or expanded businesses. As used in economic development, they are calculated by dividing the number of qualified prospects or business locates by the total number of leads. For example, if over the past year your organization converted 20 leads into 5 qualified prospects into 2 locates then your lead to prospect conversion rate would be 5/20 = 25% while your lead to locate conversion rate would be 2/20 or 10%. You can also carry the analysis one step further and compare the conversion rates of leads generated from different types of marketing.
We can often learn more from our failures than from our successes. Don’t neglect to carefully track why companies go elsewhere. Was it because certain skill sets in your workforce were inadequate to support the companies’ operations, the lack of an appropriate building, insufficient incentives, or some other factor? This information helps us to repair any deficiencies and to become more competitive in the future.
2. Understand and meet your customers’ needs
Understanding and meeting customer needs is the essence of marketing. You can do just about everything else wrong, yet serve your customers well, and often be successful. To get a true edge on the competition, strive to not only meet, but exceed, their expectations. First, understand what they really want and need.
On most projects, there are 2-3 main drivers that are the differentiators between success and failure. A key starting point is precise identification of those critical site selection factors. At this point, careful listening to the prospective business is much more important than skillful presentation. This identification of real project needs can be more challenging than expected and often requires clarification. It is not uncommon for economic developers to hear conflicting requirements from the different corporate executives and consultants on the site selection team. It is your job to work your way through the conflicting information and understand what is really important to the success of this project.
Once the real “driver factors” are known, pull out all stops to demonstrate your specific competitive advantages relative to those needs. Perhaps you have a training program at your community college applicable to a primary workforce need, a building that meets their facility requirements, or an incentive program uniquely fitted to their financial needs. Customize your communications to emphasize these attributes and deliver the information ahead of schedule (thereby exceeding their expectations).
Your presentations should be customized to their specific requirements; and not include too much generic material. The key is to provide information that is timely, relevant and concise. Tell them what they need to know; not what you want to tell them. Include regional “subject experts” within the fields of most interest to the client. Avoid the tendency to present “canned” information rather than material customized to the businesses’ specific requirements.
The same need for customized information applies to websites. Develop sections devoted to your target industries with a list of area businesses within that sector, applicable cost information, relevant infrastructure, education/training programs, and other resources. Having a special section of your website dedicated to data centers, for instance, shows that data centers are of strong interest to your region.
Focus on meeting and exceeding your customers’ needs and you’ll successfully meet your own needs as well.
3. Marketing is a process … not an event
A colleague recently went to the drycleaners to pick up his clothing. When he walked in, the owner told him that there was no charge as the bill was on him. When asked why, the owner said that he wanted to thank my colleague for his steady business over the years. I suspect that my colleague won’t be changing drycleaners anytime soon. This is an example of relationship marketing.
Economic Development marketing is relationship marketing - an approach that includes the following steps: Awareness, Comparison, Transaction, Reinforcement and Advocacy. Successful projects will transition from initial awareness of your area to comparison with competitor areas to a transaction such as leasing of facility space and hiring, following successful completion of which the company’s decision will be reinforced, often turning them into strong advocates of your region and organization.
The importance of this “process versus event” approach was reinforced several years ago, when an economic developer scheduled a meeting with a former client in the electronics industry merely to thank him for placing a small design facility in the region. The meeting had barely started before the former client announced that they had a brand new need for another design center and based on his previous experience and dependable relationships, he had decided to locate the second facility in the region.
Just as with the recent success at the Beijing Olympics of the U.S. Men’s Basketball Team, your efforts will be most successful if all the parts work together. A well structured marketing plan contains initiatives that gain substantial value by tightly connecting to the other elements. A commonly-used approach used to help tie together marketing initiatives is to develop a marketing calendar which shows the timing of sales trips, trade shows, industry conferences, special events, etc. Connecting your marketing together reinforces awareness of your area and your specific messages. For example, before exhibiting at a major trade show some organizations send out direct mail or e-mails to attendees inviting them to stop by their booth for a drawing and advertise in trade publications read by many of the attendees.
4) Be different!
Granted, this point cuts across the grain of most of the advice delivered to us as children. But with so many competitors across the globe, it is essential to stand out from the pack. Marketing is about creating desirability and differentiation. Most organizations understand the desirability objective, but a quick glance through the oh-so-similar advertisements in any site selection magazine illustrates that we have a long way to go towards differentiating our messages and communities.
Carve out specific niches. Is your organization known for your interest and assets in at least one field not shared with numerous other economic development organizations? If a target industry market is already filled with competitors, then look for a specific category where you can be tops. You are normally much better positioned pursuing a more specialized industry with, say, 15 relocation or expansion projects per year and 30 competitors, than a larger field with 100 projects pursued by 1,000 organizations.
The fresh perspective and insights on targeting provided by a consultant can often be of value. AngelouEconomics has helped over 100 clients sharpen their industry targeting.
5. Use your Allies (and be used too!)
If there is one industry that absolutely requires effective alliances, it is certainly economic development. No organization has the resources to achieve all that it desires, yet, community and regional resources can be immense. The best organizations are often those that best engage those public and private resources.
Surveys of community economic development groups show that state departments of commerce, regional organizations, and utilities are viewed as the best resources for assistance with developing new business. These allies should be included along with those businesses being targeted as important parts of any relationship marketing process. Periodically communicate with them including face to face visits. Just as we market to prospective new and expanding businesses, we need to market to our principle allies.
If your allies are helpful and deliver results, be mindful of their needs by helping to recognize and bolster them. Exceed their expectations of you as a partner. This is of particular value for state agencies which require demonstrated support from the community level. Testify in support of their funding needs or write a note of recognition to a legislator.
Local colleges and universities are often underutilized as allies and resources. Their alumni can be excellent sources of new business leads as that Engineering or Business Administration graduate from 30 years ago may now be running a company. Don’t stop at the Office of the President or Chancellor. Often, the college Deans and department heads know best where their alumni are located and which are in positions of authority to influence corporate expansion to your region. One community reports of the location of a technical support center, partially because the company’s co-founder was a graduate of the local university’s College of Engineering.
Surveys have consistently shown that corporate decision makers are heavily influenced by their industry peers when making decisions about new facility locations. Business executives, particularly within the same industry, are viewed as credible sources of information. So, don’t forget the power of local businesses. Get them on your marketing team. Leverage their suppliers, customers, and other contacts. Local company support often means the difference between a “cold call” to the supplier and a “warm reception.”
Include appropriate local industry representatives on sales trips and when you host events for visiting companies and site consultants. Local business executives are often the ones most listened to as they have often dealt directly with many of the areas of strong interest and speak the executive “dialect”. Practicing these five fundamentals will help your organization achieve excellent marketing results. Measure results... Understand and meet your customers’ needs – and exceed their expectations... Take a long term relationship marketing approach… Be different and carve out unique niches… gain valuable leverage by using your allies (and being used too!). And think big! A favorite quotation from Michelangelo has much applicability to economic development:
“The greatest danger for most of us is not that we aim too high and miss it, but that we aim too low and reach it.”
Steve Vierck and the Angelou Economics professional staff is available to talk with you about developing and implementing effective marketing programs. Please do not hesitate to contact us directly at 512-225-9321.
AngelouEconomics
Getting the attention of your targeted business prospects is a difficult task in the best of situations; battling 13,000 competitors makes it substantially more so. Unfortunately, that is the challenge faced today by economic development professionals. Because of this increasingly intense competition, it is imperative for economic developers to do all in their power to elevate above the competition in order to achieve meaningful results. Angelou Economics has observed that the following five marketing fundamentals can make the difference between great success and mediocrity.
1. Measure results
Knowing what you want to achieve and how to determine whether you are ultimately successful is where the most effective marketing programs begin. Most successful economic development organizations have meaningful performance objectives as their starting point. This means not only tracking final results, but also the effectiveness of your various approaches to generating and converting leads, prospects and locates.
To help evaluate which elements of the marketing mix are most cost effective, try to calculate “dollar to dollar” results from the marketing initiatives which you carry out. One way to do this is to divide expenditures for a particular marketing category, such as advertising or sales trips, by the results generated, in order to derive an average cost per lead or prospect. For instance, your year’s advertising in a particular site selection magazine may yield one lead per every $600 spent while an annual sales trip to a key market area may generate on average one lead per $800. Recognize that some prospects and leads will result from a combination of different elements of the marketing mix.
Along with clarifying your best lead generation approaches, you’ll discover that some approaches are more effective than others at generating quality prospects; the type that may ultimately become locates. Conversely, you may also determine that an approach where you’re spending valuable marketing dollars churns up numerous leads - but few ever come to fruition. Using the previous example, you might find yourself generating numerous leads through advertising, but discover that few ever turn into qualified relocation prospects that actually visit your community or region. On the other hand, the annual sales trip with face-to face meetings may not generate many leads but those that do develop often end up locating in your community.
Once you’ve fine tuned the types of marketing used to generate leads, conversion rates are a useful technique to gauge how effective you are in working with those new clients. Conversion rates are essentially a tool to measure your organization’s efficiency in converting potential customers into new or expanded businesses. As used in economic development, they are calculated by dividing the number of qualified prospects or business locates by the total number of leads. For example, if over the past year your organization converted 20 leads into 5 qualified prospects into 2 locates then your lead to prospect conversion rate would be 5/20 = 25% while your lead to locate conversion rate would be 2/20 or 10%. You can also carry the analysis one step further and compare the conversion rates of leads generated from different types of marketing.
We can often learn more from our failures than from our successes. Don’t neglect to carefully track why companies go elsewhere. Was it because certain skill sets in your workforce were inadequate to support the companies’ operations, the lack of an appropriate building, insufficient incentives, or some other factor? This information helps us to repair any deficiencies and to become more competitive in the future.
2. Understand and meet your customers’ needs
Understanding and meeting customer needs is the essence of marketing. You can do just about everything else wrong, yet serve your customers well, and often be successful. To get a true edge on the competition, strive to not only meet, but exceed, their expectations. First, understand what they really want and need.
On most projects, there are 2-3 main drivers that are the differentiators between success and failure. A key starting point is precise identification of those critical site selection factors. At this point, careful listening to the prospective business is much more important than skillful presentation. This identification of real project needs can be more challenging than expected and often requires clarification. It is not uncommon for economic developers to hear conflicting requirements from the different corporate executives and consultants on the site selection team. It is your job to work your way through the conflicting information and understand what is really important to the success of this project.
Once the real “driver factors” are known, pull out all stops to demonstrate your specific competitive advantages relative to those needs. Perhaps you have a training program at your community college applicable to a primary workforce need, a building that meets their facility requirements, or an incentive program uniquely fitted to their financial needs. Customize your communications to emphasize these attributes and deliver the information ahead of schedule (thereby exceeding their expectations).
Your presentations should be customized to their specific requirements; and not include too much generic material. The key is to provide information that is timely, relevant and concise. Tell them what they need to know; not what you want to tell them. Include regional “subject experts” within the fields of most interest to the client. Avoid the tendency to present “canned” information rather than material customized to the businesses’ specific requirements.
The same need for customized information applies to websites. Develop sections devoted to your target industries with a list of area businesses within that sector, applicable cost information, relevant infrastructure, education/training programs, and other resources. Having a special section of your website dedicated to data centers, for instance, shows that data centers are of strong interest to your region.
Focus on meeting and exceeding your customers’ needs and you’ll successfully meet your own needs as well.
3. Marketing is a process … not an event
A colleague recently went to the drycleaners to pick up his clothing. When he walked in, the owner told him that there was no charge as the bill was on him. When asked why, the owner said that he wanted to thank my colleague for his steady business over the years. I suspect that my colleague won’t be changing drycleaners anytime soon. This is an example of relationship marketing.
Economic Development marketing is relationship marketing - an approach that includes the following steps: Awareness, Comparison, Transaction, Reinforcement and Advocacy. Successful projects will transition from initial awareness of your area to comparison with competitor areas to a transaction such as leasing of facility space and hiring, following successful completion of which the company’s decision will be reinforced, often turning them into strong advocates of your region and organization.
The importance of this “process versus event” approach was reinforced several years ago, when an economic developer scheduled a meeting with a former client in the electronics industry merely to thank him for placing a small design facility in the region. The meeting had barely started before the former client announced that they had a brand new need for another design center and based on his previous experience and dependable relationships, he had decided to locate the second facility in the region.
Just as with the recent success at the Beijing Olympics of the U.S. Men’s Basketball Team, your efforts will be most successful if all the parts work together. A well structured marketing plan contains initiatives that gain substantial value by tightly connecting to the other elements. A commonly-used approach used to help tie together marketing initiatives is to develop a marketing calendar which shows the timing of sales trips, trade shows, industry conferences, special events, etc. Connecting your marketing together reinforces awareness of your area and your specific messages. For example, before exhibiting at a major trade show some organizations send out direct mail or e-mails to attendees inviting them to stop by their booth for a drawing and advertise in trade publications read by many of the attendees.
4) Be different!
Granted, this point cuts across the grain of most of the advice delivered to us as children. But with so many competitors across the globe, it is essential to stand out from the pack. Marketing is about creating desirability and differentiation. Most organizations understand the desirability objective, but a quick glance through the oh-so-similar advertisements in any site selection magazine illustrates that we have a long way to go towards differentiating our messages and communities.
Carve out specific niches. Is your organization known for your interest and assets in at least one field not shared with numerous other economic development organizations? If a target industry market is already filled with competitors, then look for a specific category where you can be tops. You are normally much better positioned pursuing a more specialized industry with, say, 15 relocation or expansion projects per year and 30 competitors, than a larger field with 100 projects pursued by 1,000 organizations.
The fresh perspective and insights on targeting provided by a consultant can often be of value. AngelouEconomics has helped over 100 clients sharpen their industry targeting.
5. Use your Allies (and be used too!)
If there is one industry that absolutely requires effective alliances, it is certainly economic development. No organization has the resources to achieve all that it desires, yet, community and regional resources can be immense. The best organizations are often those that best engage those public and private resources.
Surveys of community economic development groups show that state departments of commerce, regional organizations, and utilities are viewed as the best resources for assistance with developing new business. These allies should be included along with those businesses being targeted as important parts of any relationship marketing process. Periodically communicate with them including face to face visits. Just as we market to prospective new and expanding businesses, we need to market to our principle allies.
If your allies are helpful and deliver results, be mindful of their needs by helping to recognize and bolster them. Exceed their expectations of you as a partner. This is of particular value for state agencies which require demonstrated support from the community level. Testify in support of their funding needs or write a note of recognition to a legislator.
Local colleges and universities are often underutilized as allies and resources. Their alumni can be excellent sources of new business leads as that Engineering or Business Administration graduate from 30 years ago may now be running a company. Don’t stop at the Office of the President or Chancellor. Often, the college Deans and department heads know best where their alumni are located and which are in positions of authority to influence corporate expansion to your region. One community reports of the location of a technical support center, partially because the company’s co-founder was a graduate of the local university’s College of Engineering.
Surveys have consistently shown that corporate decision makers are heavily influenced by their industry peers when making decisions about new facility locations. Business executives, particularly within the same industry, are viewed as credible sources of information. So, don’t forget the power of local businesses. Get them on your marketing team. Leverage their suppliers, customers, and other contacts. Local company support often means the difference between a “cold call” to the supplier and a “warm reception.”
Include appropriate local industry representatives on sales trips and when you host events for visiting companies and site consultants. Local business executives are often the ones most listened to as they have often dealt directly with many of the areas of strong interest and speak the executive “dialect”. Practicing these five fundamentals will help your organization achieve excellent marketing results. Measure results... Understand and meet your customers’ needs – and exceed their expectations... Take a long term relationship marketing approach… Be different and carve out unique niches… gain valuable leverage by using your allies (and being used too!). And think big! A favorite quotation from Michelangelo has much applicability to economic development:
“The greatest danger for most of us is not that we aim too high and miss it, but that we aim too low and reach it.”
Steve Vierck and the Angelou Economics professional staff is available to talk with you about developing and implementing effective marketing programs. Please do not hesitate to contact us directly at 512-225-9321.
Tuesday, September 16, 2008
Cornerstone staying ahead
09/15/2008
by David Chapman
Staff Writer
With the national economy down, the competition rises for Cornerstone and its executive director, Jerry Mallot.
Not just from other U.S. cities, either — it’s the international business community that the Northeast Florida economic development organization is going to battle over business growth.
“The business climate has certainly changed,” said Mallot. “The late ‘90s had some of the most prolific growth ever seen ... today the strength of the euro versus the dollar means more companies are expanding their services overseas in foreign markets.”
Amid the current national economic woes, though, Mallot believes the region is building a foundation that will help it overcome the competition – even international companies – and flourish.
“The down economy is kind of a perfect storm affecting businesses,” he said, “but Northeast Florida is well positioned to come out ahead.”
He bases that optimism on the ever-growing and direct port system, numerous roadways that allow for easy accessibility and distribution.
For the Jacksonville Port Authority, working with Cornerstone — the economic development division of the Jacksonville Regional Chamber of Commerce — to attract business to Jacksonville is a “tag-team” effort according to one Port official.
“We have a very close relationship with Cornerstone,” said Roy Schleicher, senior director of trade development and global marketing for the Port. “We’re both constantly keeping each other involved with business and looking for opportunities to get jobs to Jacksonville.
“It’s a great relationship and the Port is lucky to have them.”
Mallot said he and his staff are currently looking to attract 57 different business clients — 24 in manufacturing and processing, 23 in office and commercial business and 10 warehouse distribution companies.
Of those 57 potential clients, said Mallot, 68 percent of them would be new to Northeast Florida. More here.
Enterprise Group widens focus
Posted by Chris Gautz | Citizen Patriot September 14, 2008 00:08AM
Quantum. Windmill. Cookie.
Those names that don't mean anything to anyone outside local economic-development circles represent Jackson County's efforts to attract hundreds of jobs and millions in investment.
For years, The Enterprise Group focused on retaining jobs in a county that has been hemorrhaging them. Now the agency is broadening its focus to attract new businesses.
Enterprise Group President and CEO Scott Fleming said after he arrived on the job in February, he asked business and community leaders what they wanted.
"What everyone told me was we need new businesses here to inject more dollars into our economy," he said.
To help track that, he presents a scorecard each month to the EG board, which contains a list of the attraction activities he and his staff are engaged in.
The August scorecard contains 12 potential and confidential projects that represent a potential total investment of more than $300,000 and 1,000 jobs. Each project has a code name.
Among the others are Global Solutions, MMC, International and Greenwood.
Fleming said aside from manufacturing and high-tech companies, the EG are also looking to Hollywood.
"Much like the rest of the state, we're trying to attract some of the movie industry to the area, because of the large tax incentives the state now offers," he said.
Fleming knows that every pitch won't be successful, but he said you need to juggle 10 to 20 potential projects in hopes that one of them will come through.
"One home run is all we need," he said. More here.
Friday, September 12, 2008
$16M development effort launched; regional partnership seeks to compete with the world
From Staff Reports
Every day, around the world, businesses are choosing places to locate new facilities. To attract new businesses and maintain a thriving economy, East Tennessee must act now because the world won't wait.
That was the message Innovation Valley Inc., an investor-directed program dedicated to recruiting, retaining and expanding business growth, delivered to community business leaders at a kick-off breakfast Monday morning.
The group outlined its plan of traditional economic development marketing strategies as well as innovative tactics in work force development, education and technology-led economic development to grow local business.
Additionally, organizers announced the group has already raised $4.2 million toward the $16 million cost of the five-year campaign.
Live, streaming video connected the event across three locations: the Airport Hilton in Blount County, the Knoxville Convention Center in Knox County and Pollard Technology Conference Center in Oak Ridge. The locations span the 25-mile-long Innovation Valley Technology Corridor and underscore the regional approach now under way.
Blount Partnership President and CEO Fred Forster said he was impressed by the presentation and that the future looks bright for the region and for the organization.
"I think it's going to be very successful. I think we've got people in the region now interested in working together," Forster said.
Bryan Daniels, executive vice president for industrial development for the Blount Partnership, will be the chief contact between Innovation Valley and the Blount County Chamber of Commerce.
There have been previous efforts to promote the region's economy. Daniels said he believes conditions now are conducive for this effort to match expectations. He said the economy is changing. "I think what you're seeing now is the economy in the U.S. is leading toward research and development, what we call technical manufacturing," he said.
A change at the north end of Pellissippi Parkway encourages companies to look at this region, according to Daniels. Oak Ridge National Laboratory has opened up to work with private businesses. "Oak Ridge has become a user-friendly facility. Companies can come in," he said.
The region is trying to cater to those companies wanting to locate near the national lab, near the University of Tennessee and near McGhee Tyson Airport.
"That's why we're building our technology park," Daniels said, referring to Pellissippi Place that will be built off Pellissippi Parkway at Old Knoxville Highway.Seeking regional impactCommunity, business and government leaders in attendance at the event Monday were treated to a synchronized presentation, a technology-fueled event led by Innovation Valley Inc. board chairman Dr. Thomas Mason of UT-Battelle in Oak Ridge and board members Kevin Clayton of Clayton Homes Inc. in Blount County and Jimmy Haslam of Pilot Travel Centers LLC in Knox County. "We have put together a truly unique partnership of business and community leaders to help our region compete globally for increased economic growth," Mason said.
"It's all about a regional impact, and we realize that by partnering instead of competing, we have much more to gain for the Innovation Valley Technology Corridor. It all works together, and together it works better.
"The Innovation Valley Inc. board members Mason, Haslam and Clayton introduced the organization's goals and strategic plans. The effort employs a comprehensive, five-year economic development plan designed to build on the successes of the Jobs Now! program and lead Innovation Valley into the future. At the conclusion of the presentation, University of Tennessee men's head basketball coach, Bruce Pearl, addressed guests from the Knoxville Convention Center location.
"The world is moving ahead in areas of education, technology and business recruitment. Just watching the Olympics from China helps you appreciate that fact. We need to keep up," Pearl said. "East Tennessee has what it takes to meet the challenge, to recruit and train the best team and rise to the occasion. We've got to work together to be successful, to be at the top of our game."
"The central idea behind Innovation Valley Inc. is that a single successful partnership benefits all partners. It doesn't make any sense for us to devote energy and resources to working against one another when the real competition is not down the road, it's around the world," said Mason.
"This kick-off event was indicative of the unified, inspired coalition that Innovation Valley Inc. represents in our region," said Clayton. "This is the first step in bringing everyone together to collectively improve and secure our economic future and to position Innovation Valley as the place to locate or grow your business.
"Partnering organizations in Innovation Valley Inc. include Blount County Chamber of Commerce, Knoxville Chamber, Loudon County Economic Development Agency, Oak Ridge Economic Partnership, The Roane Alliance and Tellico Reservoir Development Agency.
Innovation Valley Inc. plans to increase economic prosperity in the region by focusing on six program areas:
� Education and workforce development
� Technology and entrepreneurship
� Global marketing
� Business retention and expansion
� Public policy
� Resources for living
By addressing these key program areas, Innovation Valley Inc. intends to foster growth for communities in our region and those who do business here. And in doing so, generate headlines that more business and prosperity are headed to Innovation Valley, according to a prepared statement.
To learn more, visit www.innovationvalleyinc.org.
Every day, around the world, businesses are choosing places to locate new facilities. To attract new businesses and maintain a thriving economy, East Tennessee must act now because the world won't wait.
That was the message Innovation Valley Inc., an investor-directed program dedicated to recruiting, retaining and expanding business growth, delivered to community business leaders at a kick-off breakfast Monday morning.
The group outlined its plan of traditional economic development marketing strategies as well as innovative tactics in work force development, education and technology-led economic development to grow local business.
Additionally, organizers announced the group has already raised $4.2 million toward the $16 million cost of the five-year campaign.
Live, streaming video connected the event across three locations: the Airport Hilton in Blount County, the Knoxville Convention Center in Knox County and Pollard Technology Conference Center in Oak Ridge. The locations span the 25-mile-long Innovation Valley Technology Corridor and underscore the regional approach now under way.
Blount Partnership President and CEO Fred Forster said he was impressed by the presentation and that the future looks bright for the region and for the organization.
"I think it's going to be very successful. I think we've got people in the region now interested in working together," Forster said.
Bryan Daniels, executive vice president for industrial development for the Blount Partnership, will be the chief contact between Innovation Valley and the Blount County Chamber of Commerce.
There have been previous efforts to promote the region's economy. Daniels said he believes conditions now are conducive for this effort to match expectations. He said the economy is changing. "I think what you're seeing now is the economy in the U.S. is leading toward research and development, what we call technical manufacturing," he said.
A change at the north end of Pellissippi Parkway encourages companies to look at this region, according to Daniels. Oak Ridge National Laboratory has opened up to work with private businesses. "Oak Ridge has become a user-friendly facility. Companies can come in," he said.
The region is trying to cater to those companies wanting to locate near the national lab, near the University of Tennessee and near McGhee Tyson Airport.
"That's why we're building our technology park," Daniels said, referring to Pellissippi Place that will be built off Pellissippi Parkway at Old Knoxville Highway.Seeking regional impactCommunity, business and government leaders in attendance at the event Monday were treated to a synchronized presentation, a technology-fueled event led by Innovation Valley Inc. board chairman Dr. Thomas Mason of UT-Battelle in Oak Ridge and board members Kevin Clayton of Clayton Homes Inc. in Blount County and Jimmy Haslam of Pilot Travel Centers LLC in Knox County. "We have put together a truly unique partnership of business and community leaders to help our region compete globally for increased economic growth," Mason said.
"It's all about a regional impact, and we realize that by partnering instead of competing, we have much more to gain for the Innovation Valley Technology Corridor. It all works together, and together it works better.
"The Innovation Valley Inc. board members Mason, Haslam and Clayton introduced the organization's goals and strategic plans. The effort employs a comprehensive, five-year economic development plan designed to build on the successes of the Jobs Now! program and lead Innovation Valley into the future. At the conclusion of the presentation, University of Tennessee men's head basketball coach, Bruce Pearl, addressed guests from the Knoxville Convention Center location.
"The world is moving ahead in areas of education, technology and business recruitment. Just watching the Olympics from China helps you appreciate that fact. We need to keep up," Pearl said. "East Tennessee has what it takes to meet the challenge, to recruit and train the best team and rise to the occasion. We've got to work together to be successful, to be at the top of our game."
"The central idea behind Innovation Valley Inc. is that a single successful partnership benefits all partners. It doesn't make any sense for us to devote energy and resources to working against one another when the real competition is not down the road, it's around the world," said Mason.
"This kick-off event was indicative of the unified, inspired coalition that Innovation Valley Inc. represents in our region," said Clayton. "This is the first step in bringing everyone together to collectively improve and secure our economic future and to position Innovation Valley as the place to locate or grow your business.
"Partnering organizations in Innovation Valley Inc. include Blount County Chamber of Commerce, Knoxville Chamber, Loudon County Economic Development Agency, Oak Ridge Economic Partnership, The Roane Alliance and Tellico Reservoir Development Agency.
Innovation Valley Inc. plans to increase economic prosperity in the region by focusing on six program areas:
� Education and workforce development
� Technology and entrepreneurship
� Global marketing
� Business retention and expansion
� Public policy
� Resources for living
By addressing these key program areas, Innovation Valley Inc. intends to foster growth for communities in our region and those who do business here. And in doing so, generate headlines that more business and prosperity are headed to Innovation Valley, according to a prepared statement.
To learn more, visit www.innovationvalleyinc.org.
'Committee of 100' members take matters into their own hands
Fund to assist current, future business owners
By KATHIE DICKERSON
Staff Writer • September 12, 2008
COSHOCTON - Some local residents are taking it upon themselves to help boost economic development.
And they are asking for others to join them.
The Coshocton Committee of 100 was announced Thursday by the Coshocton Port Authority and Coshocton County Chamber of Commerce.
The idea came from local business owner Mike Remington, who said as the community continued to fall on economic hard times, he heard, and probably said himself, why doesn't somebody do something?
"What can I do, I'm just one person?" he asked. "What about 100 people who could commit to $100 a month for a year, and that could continue to grow two years, and eventually four, until the port authority would have $1 million available for development?"
The plan has evolved over the last few months, and a fund as been setup through the Coshocton Foundation. Though there's been no formal announcement until now, nine people have committed to the program, Remington said.
Money raised will be used to create a community development fund that will allow the port authority to offer financial assistance to entrepreneurs and small businesses; provide lease subsidies to companies interested in locating in Coshocton County; provide $2,500 relocation grants to graduates of Coshocton County high schools who have left the area and want to return and start a business; and provide matching funds to obtain other state and federal dollars to support economic development projects.
"This gives the port authority new tools to create a stronger economic climate here in Coshocton County," said T.J. Justice, port authority executive director.
The funds will be used strictly for economic development and not operating expenses, Justice said. Operating funds for the port authority come primarily from county commissioners and the city of Coshocton.
Kathy Thompson, executive director of the Coshocton Foundation, said the fund is a donor advised fund, which means the port authority will have input in how the money is awarded.
Allotment of fund will have to go through the five-member distribution board of the Coshocton Foundation and the Port Authority Board.
There are certain criteria applicants will have to follow, such as new business owners participating in training with the Small Business Development Center.
The SBDC was one factor that swayed Buehler's Fresh Foods to committing to the project, said Mel Allerhand, marketing consultant to Buehler's.
He said the company was looking for a way to invest in the community that would in turn make a difference at the store.
"Buehler's wanted to look at something that would also assist businesses over a long period of time," he said.
SBDC offers startup training for entrepreneurs, but also has a volunteer committee of professionals who offer advice in a wide area, including accounting, law, human resources and marketing.
"These people are experts in their fields and can help with ongoing strategic planning," said Steve Schillig, director for Region 10.
Allerhand said Buehler's has committed to the project, but the dollar amount won't be decided until next week when the Buehler's Foundation board meets next week.
"This could be a role model for others around the state," he said.
Remington said presentations about the Committee of 100 are already planned for the Coshocton Kiwanis and Coshocton Rotary clubs, and the Board of Realtors has expressed an interest in hearing more about the project.
"It comes back to 'somebody ought to do something,'" Remington said. "Here's your chance to do something for Coshocton County."
kdickerson@nncogannett.com740-295-3442
By KATHIE DICKERSON
Staff Writer • September 12, 2008
COSHOCTON - Some local residents are taking it upon themselves to help boost economic development.
And they are asking for others to join them.
The Coshocton Committee of 100 was announced Thursday by the Coshocton Port Authority and Coshocton County Chamber of Commerce.
The idea came from local business owner Mike Remington, who said as the community continued to fall on economic hard times, he heard, and probably said himself, why doesn't somebody do something?
"What can I do, I'm just one person?" he asked. "What about 100 people who could commit to $100 a month for a year, and that could continue to grow two years, and eventually four, until the port authority would have $1 million available for development?"
The plan has evolved over the last few months, and a fund as been setup through the Coshocton Foundation. Though there's been no formal announcement until now, nine people have committed to the program, Remington said.
Money raised will be used to create a community development fund that will allow the port authority to offer financial assistance to entrepreneurs and small businesses; provide lease subsidies to companies interested in locating in Coshocton County; provide $2,500 relocation grants to graduates of Coshocton County high schools who have left the area and want to return and start a business; and provide matching funds to obtain other state and federal dollars to support economic development projects.
"This gives the port authority new tools to create a stronger economic climate here in Coshocton County," said T.J. Justice, port authority executive director.
The funds will be used strictly for economic development and not operating expenses, Justice said. Operating funds for the port authority come primarily from county commissioners and the city of Coshocton.
Kathy Thompson, executive director of the Coshocton Foundation, said the fund is a donor advised fund, which means the port authority will have input in how the money is awarded.
Allotment of fund will have to go through the five-member distribution board of the Coshocton Foundation and the Port Authority Board.
There are certain criteria applicants will have to follow, such as new business owners participating in training with the Small Business Development Center.
The SBDC was one factor that swayed Buehler's Fresh Foods to committing to the project, said Mel Allerhand, marketing consultant to Buehler's.
He said the company was looking for a way to invest in the community that would in turn make a difference at the store.
"Buehler's wanted to look at something that would also assist businesses over a long period of time," he said.
SBDC offers startup training for entrepreneurs, but also has a volunteer committee of professionals who offer advice in a wide area, including accounting, law, human resources and marketing.
"These people are experts in their fields and can help with ongoing strategic planning," said Steve Schillig, director for Region 10.
Allerhand said Buehler's has committed to the project, but the dollar amount won't be decided until next week when the Buehler's Foundation board meets next week.
"This could be a role model for others around the state," he said.
Remington said presentations about the Committee of 100 are already planned for the Coshocton Kiwanis and Coshocton Rotary clubs, and the Board of Realtors has expressed an interest in hearing more about the project.
"It comes back to 'somebody ought to do something,'" Remington said. "Here's your chance to do something for Coshocton County."
kdickerson@nncogannett.com740-295-3442
Site selection consultant tells Rowan leaders how to attract company investment, new jobs
By Mark Wineka
mwineka@salisburypost.com
It was a Boy Scout message for an industry-hungry audience.
Be prepared.
Mark Sweeney, a nationally recognized site selection consultant, told Rowan County leaders Tuesday that the preparations they make now in things such as sites, teamwork, workforce, infrastructure, incentives and quality of life will pay off.
Maybe tomorrow. Maybe five years from now.
But prepared communities win, Sweeney said, and attracting company investment and new jobs is more competitive than ever.
Speaking at Catawba College as a guest of the Ketner School of Business and the Salisbury-Rowan Economic Development Commission, Sweeney gave specific examples of how communities elsewhere were able to land the big companies.
In Marion, Ind., where Dollar General built a million-square-foot distribution center, it came down to a mayor's leadership on troubling site issues and state legislation on incentives.
The mayor's work led to 750 jobs and kept Dollar General from choosing its other favorite site in Illinois.
In Columbus, Miss., the community invested up front in a certified site with the best infrastructure possible to land Severcoor Steel, which invested $800 million and created 450 jobs.
Canton, Miss., invested in the education and training of its workforce, and it proved to be the deciding factor for Nissan to build an assembly plant that created more than 4,000 jobs.
Greenville, S.C., used a creative approach with taxes and incentives to attract a Nissan warehouse.
Olive Branch, Miss., depended on its quality of life and emphasizing its place within a greater Memphis, Tenn., region to attract a large Trex Manufacturing plant.
"Salisbury is a nice town, but it's not going to have an NFL team soon," Sweeney said.
That doesn't mean Rowan County can't leverage its regional assets — its proximity to bigger cities such as Charlotte and Greensboro.
"The regional thing has worked pretty well here," said Sweeney, a principal in McCallum Sweeney Consulting of Greenville, S.C.
Part of being prepared is having customer knowledge, Sweeney said. The clients he works for are profit-driven, deadline-driven, have multiple location options and are "risk averse," Sweeney said.
"If it was your billion dollars you were investing, you'd be risk averse, too," he said. "... We want to get to the right place with the right package."
Sweeney said when his own company narrows down a client's search to a handful of "finalist communities," it means the clients could go to any of the communities and operate successfully.
The final decision on which community it will be comes down to negotiations (maybe with incentives), risk analysis, cost modeling and other things. Again, a community has to be prepared.
Executives of companies are passionate about their companies, Sweeney said, and they want to see that same passion from leaders about their communities.
Sweeney was once in a community where an official welcomed his client by saying, "We hope you come here — we really need the taxes." That's not a good opening line, Sweeney said.
Sweeney's large audience included businessmen, EDC members, county commissioners, municipal mayors and council members and college faculty and students.
Here were some other Sweeney observations:
- A community has to have "product," and that product takes the form of leadership, sites, infrastructure, human resources, taxes and community assets.
- The county could have the best labor force, incentives, leadership and quality of life, but if it doesn't have sites, it almost always will lose the clients of site consultants such as Sweeney. A community has to have a portfolio of ready, available sites because location decisions demand speed. Companies work off tight schedules.
- Taxes and what a company will have to pay in taxes are a major site variable. "They are considered in every location decision," Sweeney said.- To many company officials, small towns are more of a risk, presenting a lot more issues to overcome. Again, smaller communities should strongly sell themselves as part of a greater region.
- For some companies, a location decision comes down to what assets a community has. A community should never stop investing in its quality of life, Sweeney said. Companies who would be bringing or recruiting people from around the world to a new location ask themselves, will they come to this place?
- Sweeney said it's "very common" to offer incentives to existing industries which are looking to expand. He said growth inside a company often can be competitive among different locations, and economic development officials should make their existing companies aware of the incentive packages that might be available to them in that competition.
- Having existing buildings as part of a community portfolio is good. At the least, Sweeney said, a speculative building generates traffic and should partly be viewed as a marketing tool. If he had to recommend a size for a speculative building, Sweeney said, something in the neighborhood of 50,000 square feet, easily expandable to 100,000 square feet, would be a start.
- Asked if it were feasible to have an incentives package in which many local taxing authorities within a region participated, Sweeney said it makes sense on paper, but the execution is difficult. Many times there are legal restrictions and political obstacles, he said.
- Incentives are community decisions, Sweeney said, but if a community decided against them the impact would be immediate and substantial. Incentives don't drive projects, but in the final decision stages, they matter, he said.
- Incentive packages can be designed and crafted to lead to the kind of industries a community wants, Sweeney said.
mwineka@salisburypost.com
It was a Boy Scout message for an industry-hungry audience.
Be prepared.
Mark Sweeney, a nationally recognized site selection consultant, told Rowan County leaders Tuesday that the preparations they make now in things such as sites, teamwork, workforce, infrastructure, incentives and quality of life will pay off.
Maybe tomorrow. Maybe five years from now.
But prepared communities win, Sweeney said, and attracting company investment and new jobs is more competitive than ever.
Speaking at Catawba College as a guest of the Ketner School of Business and the Salisbury-Rowan Economic Development Commission, Sweeney gave specific examples of how communities elsewhere were able to land the big companies.
In Marion, Ind., where Dollar General built a million-square-foot distribution center, it came down to a mayor's leadership on troubling site issues and state legislation on incentives.
The mayor's work led to 750 jobs and kept Dollar General from choosing its other favorite site in Illinois.
In Columbus, Miss., the community invested up front in a certified site with the best infrastructure possible to land Severcoor Steel, which invested $800 million and created 450 jobs.
Canton, Miss., invested in the education and training of its workforce, and it proved to be the deciding factor for Nissan to build an assembly plant that created more than 4,000 jobs.
Greenville, S.C., used a creative approach with taxes and incentives to attract a Nissan warehouse.
Olive Branch, Miss., depended on its quality of life and emphasizing its place within a greater Memphis, Tenn., region to attract a large Trex Manufacturing plant.
"Salisbury is a nice town, but it's not going to have an NFL team soon," Sweeney said.
That doesn't mean Rowan County can't leverage its regional assets — its proximity to bigger cities such as Charlotte and Greensboro.
"The regional thing has worked pretty well here," said Sweeney, a principal in McCallum Sweeney Consulting of Greenville, S.C.
Part of being prepared is having customer knowledge, Sweeney said. The clients he works for are profit-driven, deadline-driven, have multiple location options and are "risk averse," Sweeney said.
"If it was your billion dollars you were investing, you'd be risk averse, too," he said. "... We want to get to the right place with the right package."
Sweeney said when his own company narrows down a client's search to a handful of "finalist communities," it means the clients could go to any of the communities and operate successfully.
The final decision on which community it will be comes down to negotiations (maybe with incentives), risk analysis, cost modeling and other things. Again, a community has to be prepared.
Executives of companies are passionate about their companies, Sweeney said, and they want to see that same passion from leaders about their communities.
Sweeney was once in a community where an official welcomed his client by saying, "We hope you come here — we really need the taxes." That's not a good opening line, Sweeney said.
Sweeney's large audience included businessmen, EDC members, county commissioners, municipal mayors and council members and college faculty and students.
Here were some other Sweeney observations:
- A community has to have "product," and that product takes the form of leadership, sites, infrastructure, human resources, taxes and community assets.
- The county could have the best labor force, incentives, leadership and quality of life, but if it doesn't have sites, it almost always will lose the clients of site consultants such as Sweeney. A community has to have a portfolio of ready, available sites because location decisions demand speed. Companies work off tight schedules.
- Taxes and what a company will have to pay in taxes are a major site variable. "They are considered in every location decision," Sweeney said.- To many company officials, small towns are more of a risk, presenting a lot more issues to overcome. Again, smaller communities should strongly sell themselves as part of a greater region.
- For some companies, a location decision comes down to what assets a community has. A community should never stop investing in its quality of life, Sweeney said. Companies who would be bringing or recruiting people from around the world to a new location ask themselves, will they come to this place?
- Sweeney said it's "very common" to offer incentives to existing industries which are looking to expand. He said growth inside a company often can be competitive among different locations, and economic development officials should make their existing companies aware of the incentive packages that might be available to them in that competition.
- Having existing buildings as part of a community portfolio is good. At the least, Sweeney said, a speculative building generates traffic and should partly be viewed as a marketing tool. If he had to recommend a size for a speculative building, Sweeney said, something in the neighborhood of 50,000 square feet, easily expandable to 100,000 square feet, would be a start.
- Asked if it were feasible to have an incentives package in which many local taxing authorities within a region participated, Sweeney said it makes sense on paper, but the execution is difficult. Many times there are legal restrictions and political obstacles, he said.
- Incentives are community decisions, Sweeney said, but if a community decided against them the impact would be immediate and substantial. Incentives don't drive projects, but in the final decision stages, they matter, he said.
- Incentive packages can be designed and crafted to lead to the kind of industries a community wants, Sweeney said.
Report: Competition holding back growth of Ohio’s major cities
Business First of Columbus - by Matt Burns
Competition might be a big part of the American dream, but that same spirit in communities around the state could be a major factor holding back Ohio’s economic development, according to a study released this week.
The Columbus nonprofit Greater Ohio, along with the Washington, D.C.-based Brookings Institution, unveiled “Restoring Prosperity: The State Role in Revitalizing Ohio’s Core Communities.” The study takes a look at the state’s growth history, its policies and how those all tie in to 32 so-called core communities, those with at least 15,000 residents in 1950.
Those communities now account for a little more than 2 percent of Ohio’s land area, but for more than a quarter of its population and more than a third of its jobs.
Outlining economic troubles in Ohio that are more pronounced on average than the rest of the nation, the study recommends building on what the cities currently have and adjusting what it considers misguided strategies at state and local levels.
The study praised several recent moves by Gov. Ted Strickland’s administration, including a new economic development plan from the state Department of Development and a 10-year plan for higher education. Moves made during former Gov. Robert Taft’s administration, such as a tax-reform package that is phasing in a commercial activity tax and the state’s $1.6 billion Third Frontier program, also got nods as “smart initiatives with solid results.”
But problems remain that are affecting growth.
According to the study, the state funnels funding through specific agencies without a clear overall goal, and its development policies favor suburban growth and new communities over inner-city growth and ailing older areas.
The study also questioned incentive programs that look at specific businesses but not the larger development picture.
Looking at the effects growth can have, the study also examines how communities use tax breaks and incentives to lure companies within their borders. The report points to a level of competition for those businesses among Ohio communities, of which there are nearly 3,800 local government jurisdictions, or about one for every 10 square miles.
Competition can sometimes have spillover effects, however, for neighboring communities that must deal with the growth without reaping its benefits, according to the study.
Revitalizing the core areas around the state, according to the study, will require a shift in the state’s focus toward encouraging regional development that builds on assets in individual areas.
Such work has already begun in Columbus, Cleveland, Akron and Cincinnati through the growth of universities and medical centers, so-called “anchor institutions.”
Strickland spokesman Keith Dailey said the governor is taking a look at the recommendations, but believes the Development Department’s recent strategic plan represents a step in the right direction. Strickland on Wednesday attended and spoke at a summit centered around the study.
“There are multiple components to the strategic plan, but a core strategy is moving forward to ensure we’re recognizing the state’s strengths and, in particular, its regional strengths, and working to collaborate with local government,” Daily said.
The study notes that changes must involve more than just state officials. That means partnerships among city and suburban leaders in the state, along with a federal partner to help drive innovation.
To download the full report, click here.
Competition might be a big part of the American dream, but that same spirit in communities around the state could be a major factor holding back Ohio’s economic development, according to a study released this week.
The Columbus nonprofit Greater Ohio, along with the Washington, D.C.-based Brookings Institution, unveiled “Restoring Prosperity: The State Role in Revitalizing Ohio’s Core Communities.” The study takes a look at the state’s growth history, its policies and how those all tie in to 32 so-called core communities, those with at least 15,000 residents in 1950.
Those communities now account for a little more than 2 percent of Ohio’s land area, but for more than a quarter of its population and more than a third of its jobs.
Outlining economic troubles in Ohio that are more pronounced on average than the rest of the nation, the study recommends building on what the cities currently have and adjusting what it considers misguided strategies at state and local levels.
The study praised several recent moves by Gov. Ted Strickland’s administration, including a new economic development plan from the state Department of Development and a 10-year plan for higher education. Moves made during former Gov. Robert Taft’s administration, such as a tax-reform package that is phasing in a commercial activity tax and the state’s $1.6 billion Third Frontier program, also got nods as “smart initiatives with solid results.”
But problems remain that are affecting growth.
According to the study, the state funnels funding through specific agencies without a clear overall goal, and its development policies favor suburban growth and new communities over inner-city growth and ailing older areas.
The study also questioned incentive programs that look at specific businesses but not the larger development picture.
Looking at the effects growth can have, the study also examines how communities use tax breaks and incentives to lure companies within their borders. The report points to a level of competition for those businesses among Ohio communities, of which there are nearly 3,800 local government jurisdictions, or about one for every 10 square miles.
Competition can sometimes have spillover effects, however, for neighboring communities that must deal with the growth without reaping its benefits, according to the study.
Revitalizing the core areas around the state, according to the study, will require a shift in the state’s focus toward encouraging regional development that builds on assets in individual areas.
Such work has already begun in Columbus, Cleveland, Akron and Cincinnati through the growth of universities and medical centers, so-called “anchor institutions.”
Strickland spokesman Keith Dailey said the governor is taking a look at the recommendations, but believes the Development Department’s recent strategic plan represents a step in the right direction. Strickland on Wednesday attended and spoke at a summit centered around the study.
“There are multiple components to the strategic plan, but a core strategy is moving forward to ensure we’re recognizing the state’s strengths and, in particular, its regional strengths, and working to collaborate with local government,” Daily said.
The study notes that changes must involve more than just state officials. That means partnerships among city and suburban leaders in the state, along with a federal partner to help drive innovation.
To download the full report, click here.
Consultant: Area needs industrial sites ready
EDC luncheon told that without facilities, Marion at risk of being left behind.
By Rick Cundiff
Star-Banner
Published: Thursday, September 11, 2008 at 6:30 a.m.
OCALA - Marion County needs to develop industrial sites if it wants to attract industry in the future, a leading site selection consultant said Wednesday.
John Rhodes, senior principal in the Moran, Stahl and Boyer consultant firm, told the annual luncheon of the Ocala/Marion County Economic Development Corp. that the county needs to get serious about developing new industrial sites or risk getting left behind when the economy recovers from the current slowdown.
Just offering vacant land without infrastructure development is no longer enough, Rhodes said.
"You are going to have to put some of your hard-earned money on the line," he told the audience of nearly 350 business and community leaders. "If you don't have the facilities and the readiness you need, stop marketing, because you're just playing games." More here.
By Rick Cundiff
Star-Banner
Published: Thursday, September 11, 2008 at 6:30 a.m.
OCALA - Marion County needs to develop industrial sites if it wants to attract industry in the future, a leading site selection consultant said Wednesday.
John Rhodes, senior principal in the Moran, Stahl and Boyer consultant firm, told the annual luncheon of the Ocala/Marion County Economic Development Corp. that the county needs to get serious about developing new industrial sites or risk getting left behind when the economy recovers from the current slowdown.
Just offering vacant land without infrastructure development is no longer enough, Rhodes said.
"You are going to have to put some of your hard-earned money on the line," he told the audience of nearly 350 business and community leaders. "If you don't have the facilities and the readiness you need, stop marketing, because you're just playing games." More here.
Thursday, September 04, 2008
Ohio debuts new strategic plan for development
Ohio Gov. Ted Strickland has unveiled a new strategic plan for economic development that calls for boosting the per capita income of Ohioans and increasing job growth to a level that’s 25 percent higher than the five states surrounding Ohio.
“We can’t be first in the nation until we’re first in the Midwest,” said Lt. Governor Lee Fisher, who detailed the new strategic plan at a noon press conference Wednesday.
Fisher described several new programs aimed getting Ohio companies to expand their business ties to each other, helping companies find employees who have Ohio ties but now live out of state and establishing incentives to get companies to locate near “knowledge centers,” including research universities and centers for advanced manufacturing technologies.
The new program, dubbed “Ohio Hubs of Innovation and Opportunity,” will take several years to develop, said Fisher, who is also director of the Ohio Department of Development.
Details of the strategic plan can be found here. Among its other goals are to increase population among Ohioans ages 25-64, boost venture capital investment in Ohio and grow the state’s inventory of “development-ready sites” from the 3,744 acres now available to 15,000 by 2020.
Fisher declined to detail the cost of the program, but said it would be funded through the Department of Development’s existing operating budget.
“We can’t be first in the nation until we’re first in the Midwest,” said Lt. Governor Lee Fisher, who detailed the new strategic plan at a noon press conference Wednesday.
Fisher described several new programs aimed getting Ohio companies to expand their business ties to each other, helping companies find employees who have Ohio ties but now live out of state and establishing incentives to get companies to locate near “knowledge centers,” including research universities and centers for advanced manufacturing technologies.
The new program, dubbed “Ohio Hubs of Innovation and Opportunity,” will take several years to develop, said Fisher, who is also director of the Ohio Department of Development.
Details of the strategic plan can be found here. Among its other goals are to increase population among Ohioans ages 25-64, boost venture capital investment in Ohio and grow the state’s inventory of “development-ready sites” from the 3,744 acres now available to 15,000 by 2020.
Fisher declined to detail the cost of the program, but said it would be funded through the Department of Development’s existing operating budget.
Subscribe to:
Posts (Atom)