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  • 1. Economic Growth: Survey of Growth Communities Discussion and Presentation on the Survey Results From Fifteen Moderate and High Growth Communities. Connecting Companies With Communities TM Moran, Stahl & Boyer
  • 2. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Moran, Stahl & Boyer Profile (Sample of Client Base)
    • Corporate Site Selection
    • American International Group (AIG)
    • American Fuji Seal
    • AT&T
    • Colgate-Polmolive
    • Columbia Energy Group
    • Corning Incorporated
    • Dow Chemical
    • Federal Express
    • Infineon Technologies
    • John Hancock Insurance
    • Johnson & Johnson
    • Mac Dermid Corporation
    • Merrill Lynch
    • Prudential Financial Services
    • Economic Development Consulting
    • Alberta
    • Arizona
    • British Columbia
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Massachusetts
    • Newfoundland/Labrador
    • New Jersey
    • New York
    • Pennsylvania
    • Texas
    • Virginia
  • 3. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Discussion Topics
    • The fifteen (15) growth communities that participated in the survey
    • Key drivers of population growth
    • Target industries for future growth
    • Techniques for reaching out to existing companies
    • Product/company life cycles
    • The new work ethic and its impact on workforce development
    • Effective economic development marketing tools
    • Two most important things to stimulate economic growth
    • Reflections on economic growth
    • Action Plan to support economic growth
  • 4. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Fifteen Communities Surveyed
    • Community Selection Based on:
    • Level of growth
    • Size of population
    • Diversity of economic base
    • Geography
    • Personal experience
  • 5. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Key Drivers of Growth
  • 6. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Target Industries for Future Growth Back Office/Shared Services Life Science/Biotech Specialty/Advanced Mfg. Region/Corporate HQ’s Information Technology Logistics/Distribution Healthcare Services Electronics/Optics Aviation/Aerospace Renewable Energy Which industries have higher-paying jobs and will remain in the community into the future?
  • 7. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Biotech and Life Sciences Chemicals Pharmaceuticals Biomaterials Pesticides Bioinformatics Medical Devices Medical Instruments Electronic Equipment
  • 8. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Techniques for Reaching Out to Existing Employers One-on-One Meetings Newsletters Periodic Social Events Seminars/Workshops Annual Business Surveys
    • Critical Questions:
    • Are they growing?
    • Any new products/services (R&D)?
    • How tough is the competition and where is it coming from?
    • What are their challenges?
    • How can the community support them?
    • Where are they in their life cycle?
    Employer interviews and plant tours are important ways to better understand your economic base.
  • 9. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Phase III Maturation & Consolidation Phase II Rapid Market Growth Through Internal Expansion and Acquisition Phase I Business Start-up & Product Rollout Output Time Company/Product Life Cycle: Key to Understanding Opportunities Start-up Capital > Labor/Facilities/Capital > Minimize Cost > Sustained Market Phase IV Sustained Niche or “ Last One Standing” A B C D Critical Decisions Made in Phase III A: Attempt to go back to Phase II (new market expansion/product improvements) B: Consolidate with competition to grow share in a shrinking market C: Go/stay private with niche operation and proceed to Phase IV D: Continue to enhance productivity to sustain margins (production improvements/cost takeouts)
  • 10. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer The New “Work Ethic” . . . The Bar Has Been Raised
    • Punctuality . . . dependable
    • Business etiquette . . . respect/discern
    • Drive to succeed . . . focused/ethical
    • Commitment . . . hard work/time management
    • Attention to detail . . . pursuit of quality
    • No drugs . . . testing is inevitable
    • Work in teams but also independent thinker
    • Demonstrate creativity and innovation
    • Grasp critical thinking approach to problem solving
    • Quick to learn new information and concepts
    • Attitude that readily adapts to change
    • Math…integral to many industries
    • Computer…Microsoft Office platform
    • Communication … written and verbal
    • College degree . . . technical and entrepreneurial
    • Industry specific. . . jargon and concepts
    • Special certifications . . . by discipline
    Core “Soft” Competencies Core “Technical” Competencies Advanced “Soft” Competencies Advanced “Technical” Competencies Higher skills required in order for companies to quickly adapt to rapidly-evolving markets.
  • 11. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Career: Vision > Motivation > Preparation > Outcome Vision: defining realistic opportunities and knowing how to achieve them. Motivation: personalizing options and having the ongoing support for success. Preparation: having the focus and discipline to meet requirements. Outcome: securing the best jobs and careers in the local marketplace.
    • Student interest in participating in various career-related activities . . .
    • College and industry tours
    • Job shadowing
    • One-to-one contact with someone in career area
    • Internships
  • 12. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Workforce Development Strategy Elementary > Secondary > College > Workforce Students, Parents, Educators, Prospective Employees, etc. On-Going Interface With Local Industry Labor Force Planning, Career Awareness/Trends, Internships, etc. Evolving Developmental Needs . . . Part of Life-Long Learning: Career Awareness, Technical Skills and “Soft” Skills
    • Facilitators
    • Econ. Dev. Staff
    • WIB’s
    • Local Industry Leaders
    • Local Education Leaders
    Ultimate Goal: Having a Labor Force at the Right Size, with the Right Skills, and the Desire to Remain in the Region.
  • 13. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Techniques for Stimulating Entrepreneurial Activity Entrepreneurship Awareness Access to Low Interest Loans/Grants Business Plan Competition to Win Start-Up Funds Courses on Preparing Business Plans Low Cost Space and Incubators for Start-Ups Business mentorship, access to angel/venture capital, and awareness of local university patent commercialization opportunities are also important.
  • 14. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Entrepreneurial Index Developed by Advanced Research Technologies, LLC based on new company startups per 1,0000 workforce participants, change in the number of new business start-ups over a 10-year period, and percent of smaller firms experiencing high growth. Allentown-Bethlehem, PA
  • 15. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Effective Economic Development Marketing Tools Web site Direct letters to consultants and prospects Road trips to visit consultants, brokers and prospects Industry-specific trade shows Use of PDF attachments on web site Familiarization trips for consultants, brokers, etc. Real estate-related trade conferences/trade shows E-mail updates and newsletters Hard copy mailed updates, newsletters, magazines Advertising in site selection publications Advertising in industry-specific publications Web Site-Related Tools Direct Communications Face-to-Face Activities Print Advertising
  • 16. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer
    • Web Site-Related Tools – Key information to include:
    • > Contact information for the economic development staff
    • > Community profile in PDF format that includes area resources and a list of employers with 100+ employees by industry; a discussion on target industries and resource profiles for each industry; available incentives as well as a list of updated sites and buildings with basic details noted.
    • Direct Communications
    • > Both e-mail and hard copy materials receive only casual review by the reader unless the reader has some previous relationship with the community.
    • > Communities send out hundreds of items a month and a consultant or commercial broker is typically deluged with information in this format.
    Effective Economic Development Marketing Tools
  • 17. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer
    • Face-to-Face Activities
    • > Trade shows/conferences provide an opportunity for brief encounter
    • > The road trips may provide 30 to 60 minutes of face time
    • > Special conferences allow several days of potential encounters
    • > Familiarization tours provide first-hand experience in community and multiple-days for discussions (precise planning and execution is critical to success)
    •  Print Advertising
    • > Opportunity to reinforce a brand image or communicate a focused thought to a broad readership.
    • > Keep in mind that most readers may give an ad one second or less to process unless there is a compelling reason to reflect longer or act on the message.
    Effective Economic Development Marketing Tools
  • 18. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Two Most Important Things to Stimulate Economic Growth
    • Stimulating Business Growth - Grow your own – both expansion of existing companies and new start-ups
    • - Focus recruitment on targeted industries with emerging high quality jobs
    • - Align recruiting efforts to capitalize on the unique assets of a community.
    • Development of Resources to Support Economic Growth - Build the product capacity (buildings/sites, workforce, infrastructure) to facilitate growth
    • - Train the region’s workforce for the businesses (industries) that will be growing
    • - Maintain a “speed of business” model that addresses the needs and opportunities of the region’s businesses
    • - Incentives are a strategic aspect of available resources (e.g., tax abatement/rebates, training support, other offerings)
    • - Facilitate internal discussions (among stakeholders) to garner support for the development of a competitive product (community resource development).
    Strategy
  • 19. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Two Most Important Things to Stimulate Economic Growth
    • Other Considerations - Have a focused strategy and the resources (people and finances) necessary to carry out the strategy
    • - The regional marketing approach is a valuable asset for leveraging resources and building market awareness
    • - Conduct a comprehensive marketing and business development campaign
    • - Produce solid (accurate/timely) facts (statistics, available real estate, etc.) for prospects to make location decisions.
  • 20. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Two Most Important Things to Stimulate Economic Growth
    • Build strong relationships (partnerships) with existing local companies - Understand their needs and provide them and support their growth - Seek financial support from larger employers for economic development initiatives and access to HR functions for prospect/consultant interviews.
    • Sustain effective working relationships with local government agencies and assure they understand their role in the overall economic development process.
    • Educate the community (at large) on the need for economic development, the value businesses provide the local economy, and the need to stimulate and maintain a competitive business climate.
    • Host familiarization tours of the community for company prospects, consultants, brokers and other influencers as a valuable relationship-building tool.
    • Facilitate an on-going relationship between all local services and government agencies to present an effective and seamless team of resources to existing and prospective companies.
    • Develop a true regional economic development partnership and obtain buy-in from all stakeholders.
    Relationships
  • 21. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Reflections on Economic Growth
    • Every community faces a crossroads at some time – in fact multiple times. Those communities that are successful have a group of stakeholders that pull together and help the community recast a new economic strategy.
    • High growth and no growth have their own unique but separate challenges.
    • Manufacturing is still a strong underpinning to many local economies but every industry and company must deal with their evolving life cycle issues.
    • It’s OK to go “elephant” hunting for big projects but remember that many jobs are provided through smaller entrepreneurial companies.
  • 22. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Reflections on Economic Growth “Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” - Benjamin Franklin
  • 23. Economic Growth: Survey of Growth Communities Moran, Stahl & Boyer Action Plan to Support Economic Growth
    • Develop an objective evaluation of local resources that support economic development.
    • Determine an achievable target industry portfolio and types of operations that provide the jobs and tax base desired.
    • Complete a labor force gap analysis that positions labor resources to anticipate employer needs.
    • Develop real estate resources at the level of readiness required to support each type of operation.
    • Prepare /implement a marketing and business development strategy that targets each life stage opportunity.
  • 24. John M. Rhodes, Senior Principal 941.755.0041 [email_address] Moran, Stahl & Boyer Site selection and community economic development consultants. M S B &

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