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CompetitiveReady Presentation to Northeast Texas Economic Developers Roundtable
This document summarizes a presentation about how communities can make themselves more competitive for economic development. It discusses 5 fundamentals that communities must have: 1) Taking care of existing employers through outreach and support programs. 2) Knowing which industries are the best targets through research on trends, needs, and competitive advantages. 3) Having inventory of ready industrial buildings and sites that are certified and have all necessary information. 4) Implementing a customer-focused permitting process that is clear and timely. 5) Ensuring alignment among the economic development team to work effectively together. The presentation provides examples and essential elements for each fundamental.
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CompetitiveReady Presentation to Northeast Texas Economic Developers Roundtable
- 1. Are you Ready? NorthEast Texas Economic Developers Roundtable May 16, 2012 Presented by: Allison Larsen
- 2. At 50,000 feet,most cities look roughly the same.
- 3.
- 4. How does yourcity stand out?
- 5. Our Common Goal SiteSelectors and Economic Development Professionals share a common goal… To be associated with good communities • Economically sustainable • Create wealth • Good quality of life
- 6. CompetitiveReady combines theexpertise of four firms – each an industry leader – to address the full spectrum of what it means to be CompetitiveReady: • AUSTIN CONSULTING - corporate location strategy and site selection experts • CHABIN CONCEPTS – ED strategies, targeting, development of business case, marketing strategy • APPLIED ECONOMICS – research, modeling, economic impact • ED SUITE - web development, social media, web tools, branding, custom software development
- 7. Asset Scorecard Assessing 10Categories, 175+ Factors
- 8. CompetitiveReady Program Offerings •Asset Scorecard: Comprehensive asset inventory and rigorous assessment with corresponding recommendations • Industry Scorecard: Assessment on industry priority location factors that prove a compelling business case • Comparative Scorecard: Intelligence on how model & competitor communities position for targets and benchmarking on economic indicators
- 9. Where to Lookfor ED Benchmarks Many Benchmark These Organizations Communities Number of Level of ED Effort Few Wildly Wildly Unsuccessful Successful Degree of Community Success
- 10. Where Economic Developmentfits into The Location Selection Process Strategy Location Due Implement Development Investigation Diligence Project Evaluate Strategic Alternatives 3. Deliver on Your Promises – Close Screen & Evaluate Communities/Sites the Deal 1. Get on the Conduct Due Radar Screen Diligence with Your Brand 2. Demonstrate You are the Negotiate Incentives Right Place GOAL: Avoid Giving Potential Investor a Reason to Walk Away from Your Community
- 11. Must Have Fundamentals 1. Take care of existing employers (BRE) 2. Know who “fits” in your community (Targeting) 3. Ready buildings & sites 4. Customer-focused permitting process 5. Team alignment
- 12. #1 Take Careof Existing Employers Why Important? Essentials • Avoid “holes in the bucket” • Outreach is more than • Your employers could be surveys – be proactive, another community’s add value recruitment targets • Understand their • Most effective sales people business & industry Do you know what they will say about community/you when you are not in • Case studies – more the room? than a testimonial • Grow industry cluster – • Honor / recognition suppliers & vendors program
- 13. Time to GetInvolved • Vote by Text • Vote one time
- 14. How To Votevia Texting 1. Standard texting rates only (worst case US $0.20) TIPS 2. We have no access to your phone number 3. Capitalization doesn’t matter, but spaces and spelling do
- 15.
- 16. #2 Targeting Why Important? Essentials • Effective use of resources • Target industries selected • Be “known for” based on methodology • Know what you need to • Industry trends & issues - be ready understand their needs – sites/buildings • Business case – position – Infrastructure your advantages relative – labor to their priorities
- 18. Effective Marketing toTarget Industries
- 21. #3 Ready Buildings& Sites Why Important? Essentials • >50% of all projects • Property has list price start with a search for or its not really on the an existing building market • Third-party certified site • Correct zoning – speeds process with • Complete data ready information – reduces uncertainty
- 22. Inventory of Sitesand Buildings Mix of settings 1 to 100 acres sites 2,000 to 50,000 sq. ft. Utility served Transportation access - road and rail Suitable soils, drainage Proper zoning Free of contamination WILLING SELLERS
- 23. Due Diligence Certified Site Comprehensive Data Earned This Community Community responded a Spot on the Shortlist immediately to info requests Available site CAD file facilitated client’s site analysis North Carolina’s “due diligence” oriented certification program
- 24. Third-Party Certified Site Tipton, IA:Population 3,200
- 26. #4 Customer-focused PermittingProcess Why Important? Essentials • Handshake not good • Understand customer enough needs • Time is money • Present clear process • Uncertainty pushes – What info needed prospect away – Timeline • Pre-development meeting • Prove capabilities with Case studies
- 29. #5 Team Alignment WhyImportant? Essentials • Reflective of business • Confidentiality Policy climate • Key messages • Too many variables & • Prove how your team too much work to “go it accomplishes things alone” together - examples
- 30. Summary of Fundamentals 1. Take care of existing employers (BRE) 2. Know who “fits” in your community (Targeting) 3. Ready buildings & sites 4. Customer-focused permitting process 5. Team alignment
- 31. What are yougoing to do now to be more Competitive & Ready?
- 32. Thank You Allison Larsen, Chabin & CompetitiveReady Toll-free (855) 888-2010 allison@CompetitiveReady.com Twitter @ReadytoCompete www.CompetitiveReady.com
Editor's Notes
- #7 How CompetitiveReady came about – questions we all get from economics developers “How can we attract investment and jobs?”How do you want to show Schjeldahl Group – add another bullet?
- #8 Convergence of site selection and economic developmentSite selectors set criteria – aligned to real corporate decisions - national standard
- #9 Don- we can go through these slides – thru Cr Seal Promotions – very quickly.The point we are making is that here is a new tool to prove your competitiveness which evaluates many, many factors of importance. I.e. what it takes to be truly competitive
- #10 Where do projects go – successful, prepared communities
- #12 Many of these only take “elbow-grease economic development” not a huge budget.
- #15 This slide is for display to the audience to show them how they will vote on your polls in your presentation. You can remove this slide if you like or if the audience is already comfortable with texting and/or voting with Poll Everywhere.Sample Oral Instructions:Ladies and gentlemen, throughout today’s meeting we’re going to engage in some audience polling to find out what you’re thinking, what you’re up to and what you know. Now I’m going to ask for your opinion. We’re going to use your phones to do some audience voting just like on American Idol.So please take out your cell phones, but remember to leave them on silent. You can participate by sending a text message.This is a just standard rate text message, so it may be free for you, or up to twenty cents on some carriers if you do not have a text messaging plan. The service we are using is serious about privacy. I cannot see your phone numbers, and you’ll never receive follow-up text messages outside this presentation. There’s only one thing worse than email spam – and that’s text message spam because you have to pay to receive it!
- #16 Poll: How often do you meet with local employe...Press F5 or use the tool bar to enter presentation mode in order to see the poll.\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:http://www.polleverywhere.com/multiple_choice_polls/LTIxMTM1ODA0MjgIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- #18 Poll: Have you identified target industries th...\r\n\r\nPress F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/multiple_choice_polls/LTg5ODc2OTE4NgIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- #20 Point out: understand industry needs – i.e. industry-specific industrial park, wf training
- #21 Point out:“known for” ie CorvetteRegiojnalism key to a stronger business case
- #22 Don instead of listing the bullets under “why important?” we could ask audience and then add other items they don’t cover
- #24 If you don’t have a building you should have a site with the right information readyExample of what it means to have a ready site
- #26 Poll: Our Community has:\r\n\r\nPress F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/multiple_choice_polls/LTE2MzUzODg0MDAIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- #27 Rural communities usually have advantage of accessible city/county officials and speed through process if you are organized and present a customer-focused approachDon – Talk about SNB mtgAllison - Douglas County and Ajax
- #28 Poll: In our community, all industrial/office ...\r\n\r\nPress F5 or enter presentation mode to view the poll\r\nIn an emergency during your presentation, if the poll isn't showing, navigate to this link in your web browser:\r\nhttp://www.polleverywhere.com/multiple_choice_polls/LTE4MjUwOTQ1ODgIf you like, you can use this slide as a template for your own voting slides. You might use a slide like this if you feel your audience would benefit from the picture showing a text message on a phone.
- #31 Many of these only take “elbow-grease economic development” not a huge budget.
- #32 Write down one action item or question you will investigate by June 30What will you do about it next week?