The Basic Course - JJ Johnston

Transcript

1. Business Attraction
   J.J. Johnston, CEcD, FM, IOM
   Community and Economic Development Director
   

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2. Learning Objectives
   Economic development/business attraction
   Understand aspects of target marketing
   Develop prospect targeting techniques
   Engage marketing planning process
   Create strategic and tactical priorities
   

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3. According to the International Economic Development Council:
   Economic Development Defined
   “Economic development is the intentional practice
   of improving a community’s economic well-being
   and quality of life. It includes a broad range of
   activities to attract, create, and retain jobs, and to
   foster a resilient, pro-growth tax base and an
   inclusive economy. The practice of economic
   development comprises of a collaborative effort
   involving industry, government and myriad
   community stakeholders.”
   

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4. Dysfunctional Communities are Possible
   Quality of
   Life
   Political
   Effectiveness
   Human
   Resources
   Community
   Vision??
   Economy
   Physical
   Environment
   Public
   Finance
   

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5. OMG… MY TOWN IS DYSFUNCTIONAL!!!
   

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6. “IF THE ONLY TOOL WE HAVE IS A HAMMER,
   EVERY PROBLEM IS A NAIL”
   THE CLASSIC METAPHOR
   COMMUNITIES WE MARKET
   q ARE COMPLEX PRODUCTS
   q BEING SOLD TO SOPHISTICATED BUYERS
   q OUR VERY BEST TOOL / OUR BRAINS!
   q NAILING IT WITHOUT A HAMMER
   

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7. Communities need Economic Stability
   Economic Base
   Tax Base
   Revenues Expenditures
   Service Delivery
   Population
   

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8. Economic Development’s 5 Ps of Marketing &
   the Environment
   Regulatory
   Social
   Political
   PRODUCT
   PRICE
   PROMOTION
   PLACE
   PEOPLE
   Technology
   Economic
   Legal
   

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9. KEY ATTRACTION GOALS
   To create a business attraction program that is research-
   based/market-oriented/community & client driven
   To attract acceptable prospect visitations
   To forge alliances with local business, education,
   government and workforce providers
   To train and mobilize an effective deal-closing team
   To realize every new job opportunity possible for your
   community
   To continuously improve, innovate and win
   

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10. GENERAL APPROACH
    Gather business & industry trend intelligence
    Align with community assets
    Engage economic base analysis
    Provide customized research
    Present findings/recommendations to key partners in your community
    Create a winning proposal
    

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11. CONSIDERATIONS PRIOR TO LAUNCHING
    BUSINESS ATTRACTION PROGRAM
    Understand your region and its economic engines
    Conduct local industry analysis
    Conduct sector analysis
    Conduct cluster analysis
    Align with community priorities
    

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12. BUSINESS ATTRACTION FOCUS AREAS
    STRATEGIES/TACTICS
    GOALS/OBJECTIVES
    RESEARCH/TARGETING
    SALES/SYSTEMS/STAFFING
    EVALUATION/INNOVATION
    PROGRAM IMPLEMENTATION
    

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13. STRATEGIC AND TACTICAL CONSIDERATIONS
    Linking business and community goals
    Developing regional marketing brand
    Increasing visibility with business decision makers
    and site selectors
    Expanding strategic relationships
    Generating qualified leads – converting into prospect
    visits and projects
    Creating an effective website for your EDO
    

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14. DYNAMIC WEBSITES ARE AN ESSENTIAL TOOL
    Must have current and data rich content
    Easy to navigate
    Promotes region as a diverse product
    Benchmarked/competitive comparisons
    Builds strong business case for targeted industries
    Contains customized research, including GIS, building
    and sites, newsrooms, social media links, etc.
    

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15. PLANNING INPUTS
    COMMUNITY ASSESSMENTS
    PRODUCT (ENTIRE COMMUNITY)
    WORKFORCE
    INFRASTRUCTURE
    ECONOMIC BASE
    COMMUNITY VISIONING
    COMPETITION
    TREND ANALYSIS
    

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16. ANALYSIS BY CATEGORY
    BASIC INQUIRIES
    GENERATED LEADS/SUSPECTS
    CONVERSION TO PROSPECTS
    CLOSED DEALS
    

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17. Role of Relationship Marketing
    

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18. Prospect Profile Targeting
    

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19. How Do We Target Quality Employers?
    Target Compatible
    Industries
    Best Locational Advantage
    Good Market Strength
    Most Jobs
    Best Jobs
    Manageable Environmental
    Impact
    Manageable Infrastructure
    Costs
    Positive Fiscal Impact
    

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21. Targeted Technologies
    Fourth Industrial Revolution (4IR), AI, 3D, I of T, VR
    Bioinformatics
    3PL and Redundant Supply Chains
    5G Technology and expanded IT capabilities within
    commercial business corridors
    Precision Cancer Diagnostics
    Research and Development/Academic and Commercial
    Tele Health/Tele Medicine/Tele Veterinarian Services
    Translational Genomics
    

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22. Targeted Industries
    Advanced business services
    Aerospace and defense
    Engineering
    Environmental Sciences
    Information technology/software
    Life and bio-sciences
    Research & Development
    Ubiquitous Mobile Super Computing
    

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23. Key Information To Be Presented
    Taken from DCI “Winning Strategies” survey 2017
    Demographics/Workforce
    Major Employer List
    Maps
    Targeted Industries
    Searchable database of buildings
    and sites
    Quality of Life information
    Staff Contact information
    

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24. NEXT STEPS
    Confirm targets
    Align deal-making teams
    Create customized proposal & presentation
    Seek pro-active feedback
    Present modified proposal
    Seal the deal
    Ask for testimonials
    

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25. ANALYZE & ALIGN SITE FACTORS IN
    DEVELOPING LOCAL ECONOMIES
    Research and Position Compatible Industries
    Strategically Present Customized Research and
    Link to Advantages of Your Community
    Targeted to Greatest Wealth/Job Creation
    Focused on Community and Prospect Benefit
    

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27. Sampling of Site Selectors
    Atlas Insight
    CBRE
    Cushman & Wakefield
    Deloitte
    Ernst & Young (EY)
    Foote Consulting
    Grella Partnership
    Strategies
    Grubb and Ellis
    Hickey and Associates
    JLL
    KPMG
    McEnroe
    Newmark Knight Frank (NFK)
    Price Waterhouse Coopers
    (PWC)
    Site Selection Group
    Wadley Donovan Gutshaw
    Consulting (WDGC)
    

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28. SITE SELECTORS FUNCTION
    § Analyze client requirements
    § Research regions/communities
    best locations
    § Align interest of companies to
    communities
    § Negotiate mutual considerations
    SITE SELECTION FACTORS
    § Labor/Demographics
    § Finance/Operating Costs/Risk
    Management
    § Operating
    Environment/Regulators
    § Facilities/Sites
    § Transportation/Logistics
    § Tax Structure/Incentives
    § Utility Infrastructure
    § Quality of life/Education,
    Safety/Business Climate
    

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29. CLIENT CONSIDERATIONS
    § Proximity to customers/ suppliers
    § Proximity to labor/logistics
    § R.O.I. – Cost Containment
    Risk Management
    Sustained Profitability
    NPV – 20 years forward
    SITE SELECTION PHASES
    1. Initial location decision criteria
    2. Initial screening
    3. Detailed location assessments
    4. Field visits or “short list” locations/site
    5. Negotiation/selection of final sites
    • Completion of CRE/Incentive
    Agreement
    • Site Acquisition
    • Public Announcement
    

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30. Summary
    GENERATE THOUGHTFUL RESEARCH FOCUSED
    TO STRATEGY
    USE ANALYTICAL RESEARCH TO HELP SHAPE
    FUTURE ECONOMY
    BE A CHANGE AGENT FOR YOUR COMMUNITY
    

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