Business Retention & Expansion by Grady Batchelor

Soaring To Success With Business Retention & Expansion (BR&E) Grady Batchelor President, Industrial Development Authority of Winston County, Alabama www.idawinston.org

What I’ve Learned About BR&E

BR&E Can Be Done

BR&E Is Key To Success

BR&E Opens Doors

BR&E Creates Demand & Awareness

BR&E Supports Funding Initiatives

BR&E Uncovers Facts

BR&E Promises Tremendous Future Value

What Is Synchronist®?* A Tool A Process A Foundation for Growth Synchronist® is a service of Blane-Canada Ltd.

Why BR&E – WIIFM? Primary Outcomes

Business Retention

Business Expansion

Secondary Outcomes

Introduce Goodwill

Identify Opportunities

Develop Trust

Uncover Niches

Shape Policy

Secure Funding

Show the Love

Show your industries you care and they are important to you

Key Elements of BR&E Programs Confidentiality People Planning BR&E Model Partners

BR&E Begins & Ends With Confidentiality – Vital to Success

No information, written or verbal, concerning the industry shall be shared with any other individuals.

All information is for statistical analysis and is not to be revealed to third parties.

The rules of confidentiality will continue to apply after the interviews are completed.

BR&E Model Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Pre-Launch Planning Company Visits / Interviews Post Visit / Red Flag Identification Data Analysis Follow Up Strategic Planning and Implementation

BR&E Model Post Visit/Red Flag Pre-Launch Planning Visits/Interviews

Define Objectives

Leadership

Publicity

Business Selection

Training

Business Contacts

Visits/Interviews

Post-Visit/Red Flag

Data Analysis

Strategic Planning

Implement Strategy

Plan Next Visit

Add clarifying details

Make adjustments as needed

Complete the Post Visit form

Make personal observations

Identify warning signs / Red Flags

Return the survey(s) to the appropriate party

Setup Meeting Time

Accept a Survey by Mail as a Last Resort

Take Two Copies of the Survey Forms to the Visit

Familiarize Yourself with the Survey Forms

Arrive 5 Minutes Early and Allow Time for Tour

Make Introductions as Appropriate

Synchronist Forms

Company Background Form

On-Site Form

Post-Visit Form

Interview Dos

Do review the questions before the meeting.

Do ensure you are familiar with all of the terminology used in the survey.

Do ask every question on the survey instrument.

Do ask questions exactly as they are worded.

Do mark answers with “does not apply” (DNA) or “no response” (NR).

Do ask probing questions where appropriate to elicit information supporting the answer, especially on open-ended questions. (e.g., ask Who, What, When, Where, How and How Much).

Do record comments.

Interview Don’ts

Don’t try to solve a problem on the spot.

Don’t make any promises of assistance.

Don’t overreact to something said when you know or believe the facts to be different.

Don’t try to market services during the visit.

Don’t accept a tour if it will delay your arrival at another visit.

Don’t suggest answers even if you believe you know the correct answer. Allow the executive to respond.

Don’t get off the subject.

Don’t skip survey items.

Identifying Red Flag Issues

Handle Red Flag items immediately.

Dominant Warning Signs

Corporate Warning Drivers

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Red Flags - Continued

Operations Warning Drivers

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Facility Warning Drivers

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Market Warning Drivers

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More Red Flag Items

Product / Service

Market

Industry

Management

Workforce

Others

BR&E Initial Outcomes

New Product Line, A New Facility and 50 New Jobs

Retained a Top Ten Industry and 450 Jobs

Top Ten Industry, 75 Jobs Retained, 50 Jobs Gained and 600 Additional Jobs Impacted

Gained $450,000 in Community and Economic Development Funding

Identified a Unique Niche Market

2005 BREI Award for Excellence in Small Community BR&E Programming

BR&E Fast Forward

New Industry Located to Lynn, IDA Approves $2.5M Bond Issue, 25-50 New Jobs

New Industry Locates in Haleyville, $1.5M Capital Investment, 30-50 New Jobs

Industry Expands in Double Springs, $2.5M Capital Investment, Water Infrastructure Grant for Industrial Park, 50 New Jobs

Cooperative Improvement District, Countywide Industrial Park Development, Site Selection Based on Key Economic Development Factors

Transorganizational Development

Planned change in the collective relationships of a variety of stakeholders to accomplish something beyond the capacity of any single organization (Culbert et al. 1972).

Major Positive Change

What I’ve Learned About BR&E