An introduction to the Missouri Partnership

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An introduction to the Missouri Partnership

  1. 1. Columbia Chamber of Commerce 2010 Leadership Retreat Presented by: Christopher Chung The Missouri Partnership April 29, 2010
  2. 2.  Introduction to the Missouri Partnership  How we market our “product” and work our deals  Long-term challenges for Missouri  How does Columbia stack up?  Questions and answers
  3. 3.  Mission  To promote Missouri as a destination for new business investment  To recruit new employers and jobs to Missouri  Structure  Public-private non-profit corporation  Governance  12-member Board of Directors from statewide  Size  10 employees – Sales, Marketing, and Admin
  4. 4.  What are its key objectives?  Why was it created?  Who else uses this approach?
  5. 5.  What are our key objectives?  Deliver the “message” about Missouri’s positive business attributes  Raise awareness and visibility of Missouri and its advantages as a place to do business  Generate investment leads (i.e. “Get Missouri on the list”)  Work with partners to close investment deals
  6. 6.  Why was it created?  Effectiveness of public-private partnership model  Engagement of private-sector resources  Needed consistency in marketing efforts  Needed continuity in sales relationships
  7. 7.  Who else uses this approach?  Florida – Enterprise Florida  Alabama – Econ. Dev. Partnership of Alabama  Utah – Econ. Dev. Corporation of Utah  Ohio – Ohio Business Development Coalition
  8. 8.  Three principal components of economic development and job creation  Retention and expansion of existing industry  Entrepreneurial development, technology commercialization, and small business growth  New business recruitment  The Missouri Partnership was formed to address the area of new business recruitment
  9. 9.  Significance of new business recruitment  Generates net new job creation and capital investment (versus intra-state relocation of existing businesses)  Provides new market opportunities for local suppliers of goods and services  Attracts new residents and income base  Success depends heavily on perception and external marketing efforts, similar to winning new “customers”
  10. 10. Key Stages in the Investment Decision  Missouri must win the right to compete  Achieved through marketing/relationships  Missouri must win the competition  Achieved through recruitment (sales) effort  Missouri must win the repeat competition  Achieved through retention/expansion effort
  11. 11. Our Marketing Strategy  “Air Campaign”  Build a positive image of Missouri for business  Shape perception of Missouri business climate  “Ground Campaign”  Develop and manage relationships with decision- makers and decision-influencers  Initiate face-to-face conversation about plans  Ultimate goal is to generate qualified investment leads
  12. 12. “Air Campaign” Tactics  Advertising  Earned media  Digital (web, social media, e-news releases, search-engine optimization)  Thought-leadership activities
  13. 13. Elements of “Air Campaign” Messaging  Features new Missouri brand  Focused on relevant industry assets  Relies on success stories and corporate testimonials  Highlights improvements to business climate and positive acknowledgments/rankings for Missouri
  14. 14. Cooperative advertisement with ABC Labs (Columbia)
  15. 15. Cooperative advertisement with ProEnergy (Sedalia)
  16. 16. Cooperative advertisement with AirEvac (West Plains)
  17. 17. Cooperative advertisement with Springfield Remanufacturing (Springfield)
  18. 18. Cooperative advertisement with Boehringer Ingelheim Vetmedica (St. Joseph)
  19. 19. Cooperative advertisement with Handmark (Kansas City)
  20. 20. Cooperative advertisement with Triumph Pharmaceuticals (St. Louis)
  21. 21. Advertisement in North American Wind magazine
  22. 22. Advertisement in 25 of the largest metro business journals in the U.S.
  23. 23. US Airways in-flight magazine advertisement
  24. 24. Advertisement in Next Generation Pharma
  25. 25. Advertisement in Business Xpansion Journal
  26. 26. Advertorial supplement for North American Clean Energy
  27. 27. Advertorial insert for Business Facilities and Pharmaceutical Commerce
  28. 28. Advertorial supplement for Inbound Logistics
  29. 29. Advertorial insert for Site Selection
  30. 30. Earned media in Wall Street Journal re: state incentive programs
  31. 31. Earned media in NYTimes.com re: algae- to-biofuels development in Missouri
  32. 32. Missouri “e-news release” on Missouri 2009 tax climate rankings
  33. 33. Missouri trade show exhibition booth
  34. 34. Missouri trade show exhibition booth at Paris Air Show (2009)
  35. 35. Missouri trade show exhibition booth at China Overseas Investment Fair (2009)
  36. 36. Marketing brochure for wind energy investment in Missouri
  37. 37. Marketing brochure for solar energy investment in Missouri
  38. 38. Marketing brochure for agribusiness investment in Missouri
  39. 39. Missouri incentives collateral piece
  40. 40. “Ground Campaign” Tactics  Conference sponsorships  Tradeshow exhibition presences  Decision-maker outreach (e.g. site selection consultants)
  41. 41. Conference Sponsorship Efforts (2010)  Industrial Asset Management Council  German-American Chamber of Commerce Wind Energy Business Conference  SPEED News Aerospace Conference  Midwest-US Japan Association  Soy and Natural Foods Conference
  42. 42. Tradeshow Exhibition Efforts (2010)  CoreNet Global  Biotechnology Industry Organization (BIO)  Solar Power International  WINDPOWER Expo  AFCOM Data Center World
  43. 43. Decision-Maker Outreach Efforts (2010)  Consultant outreach events  Chicago  Greenville, SC  New York / New Jersey  Los Angeles  Cleveland  International trade commissioners and consular offices
  44. 44. Our Marketing Partners  Missouri Department of Economic Development  Hawthorn Foundation  Local and regional economic development groups  Private industry in Missouri (e.g. utility companies, construction firms)
  45. 45. Our Process for Working Recruitment Deals  How we work on business recruitment deals:  “State-sourced” recruitment opportunities  Generate leads through marketing and sales relationships  Identify locations in Missouri meeting the client’s needs  Incentive proposals from state and local communities  Ombudsman role for clients
  46. 46. Our Process for Working Recruitment Deals  How we work our business recruitment deals:  “Locally-sourced” recruitment opportunities  Represent Missouri at the table with clients  Facilitate incentive proposals from state  Utilize existing client relationships
  47. 47.  Product Awareness  Raising the visibility of Missouri and its economic development potential  Shaping a positive perception of Missouri as a place to do business  Product Development  Targeting growth industries that complement Missouri’s advantages  Business climate improvements
  48. 48.  Product Awareness/Perception  Product Development
  49. 49.  Booche’s, Shakespeare’s, Flat Branch Brewery, Murry’s, Lakota Coffeehouse, Village Wine & Cheese (R.I.P.)  KBIA-FM  True/False Film Festival  The District  Stephens Lake Park  The friendliness of the people
  50. 50. Christopher Chung President and CEO The Missouri Partnership +1.314.725.0949 (O) +1.573.808.0089 (M) Chris@MissouriPartnership.com

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