competitiveready presentation to northeast texas economic developers roundtable
DESCRIPTION
TRANSCRIPT
Are you Ready?North East Texas Economic Developers Roundtable
May 16, 2012Presented by: Allison Larsen
At 50,000 feet, most cities
look roughly the same.
SELECT ONE
How does your city stand out?
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
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
Asset ScorecardAssessing 10 Categories, 175+ Factors
• 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
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
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
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
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
• Vote by Text• Vote one time
Time to Get Involved
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
http://www.polleverywhere.com/multiple_choice_polls/LTIxMTM1ODA0Mjg
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
Effective Marketing to Target Industries
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
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
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
Tipton, IA: Population 3,200
Third-PartyCertified Site
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
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
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
What are you going to do now to be more Competitive & Ready?
Allison Larsen, Chabin & CompetitiveReadyToll-free (855) [email protected] @ReadytoCompete
www.CompetitiveReady.com
Thank You