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Ocba presentation 11262019

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Greater Portland Inc Presentation

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Ocba presentation 11262019

  1. 1. GREATER PORTLAND INC OREGON CITY BUSINESS ASSOCIATION NOVEMBER 26, 2019
  2. 2. PUBLIC + PRIVATE SECTOR PARTNERS WHO WE ARE GPI SMALL CITY CONSORTIUM 70+ Logos represent GPI board members
  3. 3. We market and sell the region to companies thinking of expanding or relocating their business WE TELL GREATER PORTLAND’S STORY
  4. 4. Greater Portland Inc What we do: • Marketing and business development • Regional convening and capacity building • Comprehensive Economic Development Strategy (CEDS) • Community assistance (e.g., research, marketing, strategic planning, etc.) • Programs and Initiatives • Site Readiness Toolkit – 15 communities participating • Growing Small Businesses Globally – 35 companies
  5. 5. Greater Portland Region Portland-Vancouver MSA • 2.4M population • 2 states • 7 counties • 6 port districts • 102 cities
  6. 6. Why Recruitment? Three-legged stool of economic development 1. Attract jobs – “recruitment,” “business attraction” 2. Retain jobs – “business retention and expansion” 3. Create jobs – “entrepreneurship” (the stool sits on a foundation of workforce, infrastructure, capital, etc.) Why should we recruit companies? • Jobs, investment, supply chain development, diversification, etc.! • Example – would Greater Portland’s economy (or Oregon/SW Washington) be the same without Intel, adidas, Daimler, Boeing, etc.?
  7. 7. How It Works Marketing and Business Development Lead and Prospect Generation Prospect Management Win or Lose, Gain Competitiveness Intelligence Value Proposition (Research, Strategy)
  8. 8. What does recruitment tell us? • Whether or not we are competitive • BTW - Competition exists whether we like it or not Implications for the other two stools… • Everything depends on our competitiveness • BRE and entrepreneurship work depends on competitiveness • Business retention is important, but if we’re not cognizant of the competition it may be ineffective • Likewise, we can help entrepreneurs create companies/jobs… but if we aren’t competitive for the growth of those companies, then we will lose them
  9. 9. ECONOMIC GROWTH & PROSPERITY FOR ALL
  10. 10. Greater Portland Inc TRADED-SECTOR BUSINESS RECRUITMENT Targeted effort to elevate Greater Portland as a business/investment location to decision makers around the world COMMUNITY ASSISTANCE PROGRAM Support to municipal and local partners concentrated on economic development competitiveness REGIONAL BUSINESS MARKETING & PR Raising the visibility of Greater Portland and its assets to generate investment interest; promoting GPI as an authority on economic growth and prosperity for all NORTH-STAR THINK & DO TANK Define and enable regional vision through innovative program creation and implementation BUILD REGIONAL EXPERTISE Expand capacity and network of regional champions through strategic engagement
  11. 11. Talent & Workforce Development Woven Throughout TRADED-SECTOR BUSINESS RECRUITMENT COMMUNITY ASSISTANCE PROGRAM REGIONAL MARKETING & PR NORTH-STAR THINK & DO TANK BUILD REGIONAL EXPERTISE Core value proposition Board of Directors Audience with Small City Consortium, Economic Development Professionals Print and digital collateral, social media, resource in recruitment efforts Greater Portland 2020 Council, PEOPLE work group, Diversity in Leadership Highlight importance of your work: Ambassadors, Economic Development Week, Annual Summit
  12. 12. Since 2015, GPI’s work has led to: Jobs 2,822 $152M Income $24:1 Return
  13. 13. 2019 PROSPECTS BY INDUSTRY (n=54) Software declined over the year from just under a third to under a quarter of prospects. Manufacturing 54% of all prospects. “Other manufacturing” includes • Food, lumber, consumer products, aerospace, building products Other Manufacturing 30% Software and Media 26% Business Services 13% Computer and Electronics Manufacturin g 9% Metals and Machinery Manufacturing 7% Clean Technology 7% Health Sciences and Technology 4% Athletic and Outdoor 2% Logistics 2%
  14. 14. 2019 DOMESTIC VS FDI (n=54) FDI plateaued at about 1/3 of prospects until 2019 – prospects jumped to just over 2/5 of all prospects – due to GPI and Business Oregon contractors and increased activity of local and international multipliers Domestic 59% FDI 41%
  15. 15. 2019 EXISTING VS GREENFIELD (n=54) Pure greenfield requirements is 20% of the pipeline Existing requirements nearly 70% Existing 69% Greenfield 20% Existing or Greenfield 11%
  16. 16. 2019 MANUFACTURING PROSPECTS Data Acreage Square Feet Jobs Total 292 2,010,000 3,687 Average 29 125,625 168 Median 32 50,000 88 Max 70 500,000 1,000 Min 5 5,000 20 • 2019 avg SF: 126k, 2019 median SF: 50k SF (skewed by large projects) • 2018 avg SF: 107k, 2018 median SF: 80k SF • 2017 avg SF: 79k, 2017 median SF: 40k SF • Excludes distribution, R&D, etc.
  17. 17. 2019 OFFICE PROSPECTS Data Acreage Square Feet Jobs Total - 324,000 1,145 Average - 14,727 52 Median - 7,500 30 Max - 75,000 300 Min - 1,000 4 # of Prospects - 22 • Average requirement down by more than half – 38k in ‘18 to 15k • Median requirement lower – skewed down by small office req. • No greenfield demand (same since 2016) • Does not include manufacturing, distribution, R&D, etc.
  18. 18. TAKEAWAYS • GPI’s proactive approach • Cold Call Campaign • Aggressive travel calendar • Software declines=CA declines • Metals and machinery, clean tech manufacturing-notable uptick • All office projects need existing buildings • 70-80% of industrial projects require existing buildings
  19. 19. 2015-2019 Trend Analysis
  20. 20. Space Requirements 2015-2019 19 44 37 34 37 2 5 6 4 11 1 4 4 3 6 0 5 10 15 20 25 30 35 40 45 50 2015 2016 2017 2018 2019 Existing Greenfield Existing or Greenfield
  21. 21. TOTAL PROSPECTS (COUNT) 22 53 47 41 54 0 10 20 30 40 50 60 2015 2016 2017 2018 2019
  22. 22. INDUSTRIAL VS OFFICE PROJECTS (PERCENTAGE) 30% 56% 57% 51% 53% 70% 44% 43% 49% 47% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 2019 Industrial Office
  23. 23. SOFTWARE AND MEDIA DOWN 59% 36% 19% 32% 26% 41% 64% 81% 68% 74% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 2019 Software and Media All Other
  24. 24. AVERAGE SQUARE FOOTAGE BY PROJECT TYPE 34,000 39,000 27,500 38,250 14,727 35,000 73,000 104,000 107,083 125,625 - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 2015 2016 2017 2018 2019 Office Manufacturing
  25. 25. MARKET SOURCE OF PROJECTS 41% 32% 13% 32% 20% 5% 17% 30% 29% 41% 55% 51% 57% 39% 39% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 2019 California FDI All Others
  26. 26. LEAD SOURCE OF PROJECTS 41% 30% 36% 17% 17% 18% 28% 17% 29% 22% 41% 42% 47% 54% 61% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 2019 Company Site Selectors All Other
  27. 27. Portland’s Economic Growth 2012-2017: #166
  28. 28. Past 12 Months Job Growth
  29. 29. Current Sector Breakdown
  30. 30. A closer look at GPI’s Target Industries
  31. 31. Forecast
  32. 32. Thank you @GreaterPDX @GreaterPortlandInc Facebook.com/GreaterPortlandInc linkedin.com/company/greater-portland-inc Larry Holt Vice President of Business Development 971.339.2008 Larry.holt@greaterportlandinc.com

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