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The Siouxland Initiative: A Bakers Dozen

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See how the Siouxland Initiative is able to be successful in economic development.

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The Siouxland Initiative: A Bakers Dozen

  1. 1. I. Focus Siouxland 2003, The Tri‐State Area of Iowa,    Nebraska, & South Dakota Nebraska & South Dakota A Local Economy Struggles as Gateway  Computer Cuts Thousands of Jobs Now What Do We Do?   Q: Should We Cooperate or Compete?   A: Both! It’s a Competitive Arena & Imitation is the Sincerest Form of  t s a Co pet t e e a & tat o s t e S ce est o o Flattery
  2. 2. II. The Big Three:  The Proper Focus of Economic    Development Professionals Retention – A R l 75% t 80% f G R t ti As a Rule, 75% to 80% of Growth Comes from  th C f Within Recruitment – D i R it t Drives Headlines, but Must Be Balanced  H dli b tM tB B l d Promoting Local Entrepreneurship – Access to Angel /  Venture Capital  V t C it l
  3. 3. III. Economic Development is Sales III Economic Development is Sales Q Q: Who Sells this Community Best? y A: We Do! Who’s on Our Team? 
  4. 4. IV. Let’s Play to Our Strengths y g Q: What Do We Do Best? A: If We Don’t Know, We Better Find Out Fast. Quality of Life Innovation  Recreation Organics Education Technology Transfer
  5. 5. V. Web Presence is Critical;  V W bP i C iti l What Does our Website Communicate? Are All of the  Answers Readily  Available & Easy to  Available & Easy to Find? Demographics,  Labor Rates,  Unemployment Rates,  Union Information,  Do we have a social  Educational Statistics,  Educational Statistics, media strategy? Job Training, etc. (Twitter,  Facebook, YouTube, etc)
  6. 6. VI. Marketing – Distinguish Your Product!  Labor, Cost,  VI M k ti Di ti i hY P d t! L b C t Locale, etc. External - Promotional Marketing to the World g Internal - Attitudinal Marketing to Our Existing Base
  7. 7. VII. Responding to Site Selectors, Prospects, & Clients Answer the Mail!!!   The Unconditional Importance  of Confidentiality Credibility Matters – Sooner  or Later Everyone Knows
  8. 8. VIII. Site Selection Consultants; Are they Really the Key  to Growth? The Game is No Longer “Site Selection,”  Th G i N L “Si S l i ” but “Site Elimination”   Incentives:  They Can Only Make  a Good Deal Better
  9. 9. IX. Familiarization Tours? IX F ili i ti T ? Who? What? Where? When? Why? How?  (How much?)
  10. 10. X. Hosting a Prospect; How Many is too Many?  Politicians, Universities & Colleges, Workforce  Development, etc. Infrastructure: Water, Sewer, Electricity, Natural  Gas, Rail, Roads  G R il R d The Three Bears – Are We Ready for Uninvited  Guests?
  11. 11. XI. Development Ready Sites XI. Development Ready Sites Q: Are “Shovel‐Ready” Sites Really Necessary?  A: Only if We Want to Succeed.
  12. 12. XII. Local Media Relations, A Critical Alliance for  XII. Local Media Relations, A Critical Alliance for Economic Development Local Newspapers Television  Radio
  13. 13. XIII. Promoting & Celebrating Success From August 2003 to  March 2009  • “We’re # 1.” • Site Selection 2007 & 2008 • Business Facilities 2009 Business Facilities 2009 Now That We’ve  Established Momentum,  Established Momentum How Do We Keep It? 

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