Atlas High Performance Economic Development
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Atlas High Performance Economic Development

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Atlas CEO Ben Wright presents High Performance Economic Development at the Georgia EDA

Atlas CEO Ben Wright presents High Performance Economic Development at the Georgia EDA

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Atlas High Performance Economic Development Atlas High Performance Economic Development Presentation Transcript

  • Georgia EDA: Measuring HighPerforming EDOs 1
  • Ben Wright, Atlas Frequent speaker on marketing and attraction at IEDC and various State ED organizations CEO of Atlas Advertising 19-year economic development veteran Built his first ED website in 1995 for the Metro Denver EDC Graduate of Stanford University benw@atlas-advertising.com @atlasad 2
  • Questions We Will Answer1. What does Ben Wright look like? I wish I could put a face to a voice…2. How can the profession define high performance?3. What metrics matter for my organization?4. What results are good, average, and not so good?5. How do communities in Georgia compare?6. What are the next steps? 3
  • Join the community, continue thedialogue, get the slides • Join the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd – Tweet questions using hashtag #AskAtlas • Join the community of innovative economic development marketers – Join our Next Gen Economic Development Marketers LinkedIn Group • Get the slides: www.atlas-advertising.com/community- marketing-presentations.aspx 4
  • Why Measure High PerformingEDO’s? 5
  • As a profession, is it clear to all that wemake a difference? If not, let’s change that. 6
  • If we are going to measureourselves, how do we decidewhat to measure? 7
  • Economic developmentorganizational objectives Deal focused Promotion Retention/ Infrastructure/ focused Entrepreneur Policy focused ship focusedMission Jobs and wealth from Awareness, Inquiry Jobs and wealth from Improve the business outside inside environmentKey audience Site selectors, prospective Site selectors, Local companies and Local elected companies prospective entrepreneurs officials, government companiesMetrics Inquiries, deals closed, Awareness, inquiries Meetings/inquiries, Projects built, capital deals in pipeline, capital issues solved, policy, investment, investment legislation passedStaffing ½ business developers, ½ 2/3 marketers and ½ business ½ lobbyists, ½ marketers information developers, ½ , policy/infrastructure producers service providersCore Skills Service, person to person Content creation, Service, consulting Lobbying, public communication, sales. digital affairs communications 8
  • How did we decide on what to measure? Job growth Unemployment Tax Economic Revenue GSP Personal Income Web visits Inquiries Inquiries andJobs and wages from Outcomes relocations Jobs from 9 expansions Capital Investment
  • How did we decide on what tomeasure? Economic metrics Inquiries and Outcomes MetricsPro •Widely available data •Private sector thinking: High •Easily comparable across performing private sector firms use communities •Focus on things the EDO actually •Broadly understandable does and impacts •Metrics that cover the broadest mix of organizational goalsCon •Problems with causality: Good •Not all organizations track this data EDOs can be in bad economies today and vice versa •Self reporting of data can skew •Problems with reach: EDOs only results influence a fraction of economy •Problems with timing: Deals do not impact economy for years 10
  • Our decision – focus on inquiries andoutcomes, as we influence those directly GeneratingGenerating Generating Jobs andAwareness Inquiry InvestmentKnowledge of the Visits to website Number of jobsOrganization Phone/email inquiries Capital investment Prospect meetings 11
  • So what are the results? 12
  • A sample ofparticipating EDOs 13
  • Data collection details1. Three separate emails were sent to the Atlas list, as well as by GEDA2. Hundreds of organizations clicked on the survey, 70 thus far have completed it3. Organizations from 25+ states have now participated4. Our goal: a. 350+ communities from all 50 states by September. b. Every EDO in Georgia by GEDA’s Annual Conference this fall.5. To take the survey, click this link:http://Atlas2012BenchmarkingSurvey.questionpro.com 14
  • Statistics aboutparticipating EDOs 78% represent communities that are 250,000 in population or less 15
  • Statistics aboutparticipating EDOs 76% have annual operating budgets of under $1,000,000 16
  • Statistics aboutparticipating EDOs 68% have a staff size of three or smaller 17
  • Results from the Overall Sample 18
  • The average economic developmentwebsite receives 18,449 unique visitsper year, or 1,537 per month. 19
  • The average economic developmentorganization receives 96 inquiries peryear, or 8 per month. 20
  • The average economic developmentorganization has announced 1497 jobsin the past year. 21
  • The average economic developmentorganization has announced$179,166,852 in capital investment inthe past year. 22
  • Results Segmented byMarket Size 23
  • Average results by populationsize, last 12 Months CAPITAL WEB VISITS INQUIRIES JOBS WON INVESTMENTPOPULATION 20 $ 28,333,333Less than 25,000 8,418 98 46 $ 63,750,00025,001 to 100,000 8,324 576 65 $ 149,376,418100,001 to 250,000 22,412 1,198 208 $ 365,923,077250,001 to 1,000,000 28,374 2,422 228 $ 447,794,2601,000,000 to 2,500,000 45,543 2,646 170 $ 399,630,000Over 2,500,000 23,445 5,359 24Average for all Sizes 18,449 96 1,497 $ 179,166,852
  • Average results per capita IMPACT PER CAPITA IMPACT PER CAPITA LOW HIGH POPULATION Less than 25,000 $1,315 25,001 to 100,000 $925 $3,701 100,001 to 250,000 $ 837 $2,093 250,001 to 1,000,000 $ 478 $ 1,911 1,000,000 to 2,500,000 $ 187 $ 468 Over 2,500,000 $ 134 Average for all Sizes $646 $2,043 25
  • Results Segmented by Staff Size 26
  • Average results by staffsize, last 12 Months CAPITAL WEB VISITS INQUIRIES JOBS WON INVESTMENTSTAFF SIZE1 2,569 34 928 $ 142,071,4292 to 3 11,801 42 725 $ 169,932,5494 to 9 29,279 118 1,897 $ 176,177,34110 to 19 27,973 406 4,757 $ 475,233,33320 or more 57,565 383 5,182 $ 251,950,000Average for all Sizes 18,449 96 1,497 $ 179,166,852 27
  • Average results per staff person IMPACT PER STAFF IMPACT PER STAFF PERSON LOW PERSON HIGH POPULATION 1 $ 181,839,286 2 to 3 $ 66,636,991 $ 99,955,487 4 to 9 $ 30,112,959 $ 67,754,157 10 to 19 $ 37,530,702 $ 71,308,333 20 or more $ 25,553,000 Average for all Sizes $ 68,334,587 $ 79,672,659 28
  • Results Segmented byOrganizational Budget 29
  • Average results by operatingbudget, last 12 Months CAPITAL WEB VISITS INQUIRIES JOBS WON INVESTMENTBUDGET 22Under $100,000 853 72 $2,000,000 30$100,000 to $249,000 4,006 719 $148,384,615 42$250,000 to $499,000 15,543 434 $200,784,615 93$500,000 to $999,000 23,029 1,677 $195,720,566 43$1,000,000 to $2,500,000 10,370 1,202 $179,874,382 308Over $2,500,000 45,184 4,126 $299,620,833 18,449 30 96 1,497 $ 179,166,852Average for all Sizes
  • Average results per $ spent IMPACT PER $ LOW IMPACT PER $ HIGH OPERATING BUDGET Under $100,000 $ 51 $100,000 to $249,000 $ 729 $ 1,816 $250,000 to $499,000 $ 446 $ 890 $500,000 to $999,000 $ 280 $ 559 $1,000,000 to $2,500,000 $ 96 $ 240 Over $2,500,000 $ 202 Average for all Sizes $ 301 $ 876 31
  • What drives and what are theresults of activities per inquiry? 32
  • The average economic developmentwebsite receives 194 unique visits perqualified inquiry. 33
  • If we assume that the entire economicdevelopment budget is oriented to driveinquiry, each inquiry costs between$7,000 and $16,000 to generate. 34
  • Each inquiry, whether it leads to anexpansion or relocation, is worth anaverage of $7.9 million. 35
  • Drivers and resultsper inqury Action/Outcome per Inquiry Driver or Result of Inquiry WEB VISITS PER INQUIRY 194 JOBS PER INQUIRY 25 CAPITAL INVESTMENT PER INQUIRY 6,657,234 $ PER INQUIRY 7,915,750 36
  • What organizations are highperformers? 37
  • Highest Performers byMarket Size, 2011Extra Large Market EDO: Large Market EDO(Over 2,500,000 pop): (1,000,000 to 2,500,000 pop):Large Mid- Market EDO: Mid - Market EDO:(250,000 to 1,000,000 pop): (100,000 to 250,000 pop):Small - Market EDO: Micro - Market EDO:(25,000 to 100,000 pop): (Less than 25,000 pop): 38
  • How does Georgia compare? 39
  • Average results for GArespondents, compared to nation CAPITAL WEB VISITS INQUIRIES JOBS WON INVESTMENTBUDGETAverage for GA 14,467 37 366 $ 170,142,857Average for all Sizes 18,449 96 1,497 $ 179,166,852 40
  • What is Next? 41
  • Benchmark yourcommunity todayJoin the study by clicking this url:http://Atlas2012BenchmarkingSurvey .questionpro.comYou will receive a customized report of your results this fall. 42
  • Join our Webinar May 30: Regionalism for ED – What Top Performing Regions are Doing to Succeed • May 30th, 11:00 AM Eastern • Sign up at: https://www2.gotomeeting.com/register/ 197201762 43
  • We’ll see you in Savannah! Topic: How to Become a Top Performing EDO: Lessons from the Best 44
  • Thank You! Contact information: 2601 Blake Street, Suite 301 Denver, CO 80205 Contact: Ben Wright t: 303.292.3300 x 210 benw@Atlas-Advertising.com www.Atlas-Advertising.com LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace 45