international economic development council - bre metrics

BR&E Measuring EffectivenessLessons from the Field

A Regional Business RetentionAnd Expansion Program

Sara DunniganVP Existing Business Services

Greater Richmond Partnership, Inc

Launched in Sept 2006 2,700 interviews conducted >115,000 jobs represented Identified Opportunities -

◦ 724 companies planning to create 6,600 new jobs

◦ 545 expanding businesses with investment of $276 million

◦ More……

Our BRE Program History

Critical Success Factors Shared Motivation for Change Holistic ED Strategy Focused Program Plan Defined Outcomes Defined Roles Shared CRM (technology) and Customer

Service Philosophy Integrated Resource Team Marketing and Communications Strategy Continuous Improvement

Motivation for Change Build on existing model Create sustainable year-round effort Leverage and engage volunteers Increase understanding of issues Engage network of service providers Utilize new technology Direct resources and analyze results

New Busine

ss Attraction

Existing Business Retention and

Expansion

New Business Creation

Workforce

Developme

ntECONOMIC

DEVELOPMENTSTRATEGY

Regional BR&E Plan

Strategic Plan Annual Work Plan

◦ Objectives◦ Tactics◦ Accountability

White Space◦ Opportunities

Defined Outcomes - Evolving 500 interviews each year 60% completion rate 100 companies assisted 1,500 new jobs $50 million in new capital investment Build effective regional support team Market and promote program resources GROW THE PIE

Focus on Results

Quality versus quantity Jobs retained and jobs created Value of services provided Hours of service provided Private and public investment Cost savings Increased sales More

Partner ResponsibilitiesRegional program manager, support process and

technology, market program benefits and outcomes, amplify the business intelligence. Support volunteer recruitment, engagement and coordination

Local program manager, outreach strategy, volunteer management, service provider and follow up

Outreach volunteers, conduct interviews

Referral partners, receive and respond to specific requests for assistance.

Shared CRM and Project Management Philosophy Comprehensive needs assessment Responsive Desire to understanding regional

business factors Real time information sharing Focus on problem solving Metrics on results

Relentless Focus on the Client

Company

Local Government

Workforce Services

Financing

Sales/Business development

Planning and Process

Improvement

MORE

Unique needs – unique solutions Single point of contact – local ED office Economic development Workforce development Business finance Technical assistance International trade More

Integrated Resource Team

Stay here. Grow here.

We’re building a better business climate one company at a time.

Shared Message

Regional Marketing Strategy

Regional Marketing Strategy

• Website

• Blog

• Print

• Annual Report

• Newsletter(s)

• Social Media

• Twitter

• Facebook

"I haven`t failed, I`ve found 10,000 ways that didn`t work" -Thomas Alva Edison

On Program Improvement

A bad system will beat a good person every time.  ~W. Edwards Deming

I shall try to correct errors when shown to be errors, and I shall adopt new views so fast as they appear to be true views.  ~Abraham Lincoln

Plan, PLAN, work the plan, revisit the plan Communicate, over communicate, repeat Gang up on the problems, not each other Be strategic – manage the PORTFOLIO Focus on the CLIENT Focus on CONVERSION Get SMART, make smart friends ASK for the business

Smart Program Foundations

Don’t let them be your master Jobs are not enough Think long-term

◦ GMP by sector◦ Productivity by sector◦ Cluster-building◦ Workforce-building

More on Metrics

Questions?Let’s Connect!

Sara J. Dunnigan804-343-6968

sdunnigan@grpva.comLinkedIn

www.linkedin.com/in/sarajdunniganTwitter

www.twitter.com/saradunnigan