competitiveready presentation to northeast texas economic developers roundtable
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TRANSCRIPT
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Are you Ready?North East Texas Economic Developers Roundtable
May 16, 2012Presented by: Allison Larsen
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At 50,000 feet, most cities
look roughly the same.
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SELECT ONE
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How does your city stand out?
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Site Selectors and Economic Development Professionals share a common goal…
To be associated with good communities• Economically sustainable• Create wealth• Good quality of life
Our Common Goal
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CompetitiveReady combines the expertise 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
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Asset ScorecardAssessing 10 Categories, 175+ Factors
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• 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
CompetitiveReady Program Offerings
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Where to Look for ED Benchmarks
Nu
mb
er
of
Co
mm
uni
ties
Few
Many
Degree of Community Success
WildlySuccessful
WildlyUnsuccessful
Level of ED Effort
Benchmark TheseOrganizations
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3. Deliver on Your Promises – Close
the Deal
1. Get on theRadar Screen
with Your Brand
GOAL: Avoid Giving Potential Investor a Reason to Walk Away from Your Community
2. DemonstrateYou are the Right Place
Evaluate Strategic Alternatives
Screen & Evaluate Communities/Sites
Negotiate Incentives
Conduct Due Diligence
StrategyDevelopment
LocationInvestigation
DueDiligence
ImplementProject
Where Economic Development fits into The Location Selection Process
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1. Take care of existing employers (BRE)2. Know who “fits” in your community (Targeting)3. Ready buildings & sites4. Customer-focused permitting process5. Team alignment
Must Have Fundamentals
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Why Important?• Avoid “holes in the bucket” • Your employers could be
another community’s recruitment targets
• Most effective sales people Do you know what they will say about community/you when you are not in the room?
• Grow industry cluster – suppliers & vendors
Essentials• Outreach is more than
surveys – be proactive, add value
• Understand their business & industry
• Case studies – more than a testimonial
• Honor / recognition program
#1 Take Care of Existing Employers
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• Vote by Text• Vote one time
Time to Get Involved
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How To Vote via Texting
1. Standard texting rates only (worst case US $0.20)2. We have no access to your phone number3. Capitalization doesn’t matter, but spaces and spelling do
TIPS
EXAMPLE
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http://www.polleverywhere.com/multiple_choice_polls/LTIxMTM1ODA0Mjg
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Why Important?• Effective use of resources • Be “known for”• Know what you need to
be ready– sites/buildings– Infrastructure– labor
Essentials• Target industries selected
based on methodology• Industry trends & issues -
understand their needs• Business case – position
your advantages relative to their priorities
#2 Targeting
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Effective Marketing to Target Industries
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Why Important?• >50% of all projects
start with a search for an existing building
• Third-party certified site– speeds process with
ready information– reduces uncertainty
Essentials• Property has list price
or its not really on the market
• Correct zoning• Complete data
#3 Ready Buildings & Sites
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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
Inventory of Sites and Buildings
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Due Diligence Certified Site
North Carolina’s “duediligence” oriented certification program
Available site CAD file facilitated client’s site analysis
Community responded immediately to info requests
Comprehensive Data Earned This Community a Spot on the Shortlist
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Tipton, IA: Population 3,200
Third-PartyCertified Site
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Why Important?• Handshake not good
enough• Time is money• Uncertainty pushes
prospect away
Essentials• Understand customer
needs• Present clear process
– What info needed– Timeline
• Pre-development meeting• Prove capabilities with
Case studies
#4 Customer-focused Permitting Process
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Why Important?• Reflective of business
climate• Too many variables &
too much work to “go it alone”
Essentials• Confidentiality Policy• Key messages• Prove how your team
accomplishes things together - examples
#5 Team Alignment
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1. Take care of existing employers (BRE)2. Know who “fits” in your community (Targeting)3. Ready buildings & sites4. Customer-focused permitting process5. Team alignment
Summary of Fundamentals
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What are you going to do now to be more Competitive & Ready?
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Allison Larsen, Chabin & CompetitiveReadyToll-free (855) [email protected] @ReadytoCompete
www.CompetitiveReady.com
Thank You