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8/7/2019 Best Place Project
1/9
8/7/2019 Best Place Project
2/9
I believe Missoulaneeds a single, focusedorganizaon to guide therecruitment, retenonand developmenteort, much in the waycommunies large andsmall around the countryhave done with success.That organizaon isthe Missoula EconomicPartnership.
Missoulas peerless natural
and built environments, its
vibrant downtown district,its rst-class public teaching
and research university, its
world-class medical centers,
and acve, intelligent, engaged
cizenry combine to create
the best place to do business
in the western United States.
Because we are such anaracve place to live, work,
play and raise our families,
we must recruit and support
businesses that complement
the place and add value.
Missoula needs to tell its
story to bring new business
to Missoula, to help
exisng business grow and
prosper, and to create new
opportunies for businesses
through development
and redevelopment. With
meaningful resources, thePartnership can tell that story
over and over.
I cant tell you that economic
development is someone
elses job anymore. Its
mine. Its yours. Its ours.
This partnership relies on usworking together in new ways.
And as youll see elsewhere in
this brochure, weve got some
great folks on the team who
agree.
The goals spelled out in
this brochure are simple
but powerful. We want to
put people to work. Your
support is crical. Thanks for
considering the Best Place
Project and the Missoula
Economic Partnership.
John Engen
Mayor
HereswhatIhearmorethananythingfromthefolksIserve:
Weliveinthebestplace. Iagree.AndthatswhywelaunchedtheBestPlaceProject. Wewanttoensurethattheeconomicvitalityofour
extraordinaryplaceisnotletochance.WhileMissoulaishosttoanumberofeconomicdevelopmentandbusinessorganizaonsth
atmeet
nicheneedsinthecommunityandregion,nosingleorganizaoneecvelydrivestheeorttorecruit
business,retainbusinesses,anddevelopopportuniesforbusinessesinMissoula.
JohnEngen-Mayor
8/7/2019 Best Place Project
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Create2,500newprimaryjobsresulngin4,875totaljobs,payingasustainablewagerateof$37KannuallyGeneratedirectpayrolltotaling$172,975,000annuallyfromneworexpandingbusinessesintargetedsectors
Increasenewcapitalinvestmentsby$150,000,000 Encourage25newbusinessstartupswithinnovaveortech-relatedconcepts Recruit25best-tcompaniestorelocatetoMissoula
Conduct46annualbusiness-prospectmissionsandtradeeventstoeducateandaractnaonal,statewideandregionalsiteseleconconsultantsan
dtargetedprospectsseekingbusinessopportunies.
TheBestPlaceProjectGoals:
The ve-year Best Place
Project is a $3.2 million
regional economic growthplan targeted at the enormous
pent-up opportunity
represented by Missoulaand Missoula County. An
unparalleled quality of life,
state-of-the-art healthcare,quality schools, a stable
and diverse economy, and a
growing populaon are only the
beginning aributes that makethis area an ideal place to live,
work and raise a family.
With these signicantadvantages, the potenal
for economic growth and
prosperity is great.
To successfully compete
with other regions across
the country and the world,the Project helps pool our
resources. It calls for increased
assistance to exisng business,aggressive recruitment of
new business to our region,
provides for regional markeng
along with small business andentrepreneurship support.
A Proacve, Producve Plan forGreater Missoula
The focus of the Best PlaceProject is on smart, managedand sustainable growth through
21st Century jobs and industriesthat t our community.
8/7/2019 Best Place Project
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Strategy 1 :Support Growth ofExisng Businesses
Five-year Budget:$1 million
In order to provide
superior service to, and
promote the growth of,
exisng Missoula businesses,
Project leadership will serve
as a single point of contact
for the community of business
support providers.
This is a crical component
of the Project as exisng
businesses create 80% of
new jobs across the naon.
Planned taccs/strategies include:
Conduct annual visitswith businesses to learnhow best to supporttheir growth strategies. Ateam of business supportproviders (key governmentenes, ulies, nancialinstuons, educaon/training agencies, andothers) will assist andrespond quickly and directlyto companies with specicproblems or expansionopportunies.
Provide ongoing access tolocal, state and naonalassistance and incenveprograms with a goal ofproviding direct support toa minimum 50 businesseseach year.
Idenfy and enlist partnersand government agenciesto resolve general local/regional issues that may beliming exisng businessgrowth.
Visit at least one out-of-
town regional or corporateheadquarters of a localbusiness each year.
Plan events for IndustryAppreciaon Week toshowcase and honorbusiness excellence.
Develop addional supportmaterials to aract talentto the region including therelocaon of professionalswith local roots.
Increase the level ofbusiness communityengagement with MissoulaCounty Public Schools andother educaon programs.
Gather together keybusiness and manufacturinggroups to idenfy common
obstacles and opportunies,such as recognizing suppliergaps, enhancing the areasbusiness-to-businesscontacts, evaluang co-oppurchasing opportunies,and encouraging othercollaborave eorts.
Develop ongoing programsto help companies idenfyand access regional, naonaland global new marketopportunies. Help idenfyand provide access to qualitysuppliers and vendors, alongwith adopng cost-eecvegreen iniaves.
Work closely with localmanufacturing managersin developing an ongoingcorporate headquarterscontact program to promotethe greater Missoula areaas an aracve place fornew contract placementand investment.
OnewordsumsuptheMissoulabusinessenvironment:Ingenuity.Asaprinter,weareusuallyoneoftherstservicesneededbyanewbusiness.Theycometousequippedwithonlyadream.Weveseenmanybusinessesgrow,developandcreateprosperityt
hatbenetseveryone.WeconnuetobeinspiredbywhatsmallbusinesscanaccomplishandseeiteverydayhereinMissoula.SmallbusinessisthetruebackboneofAmerica.
Mike&JanPeissig-GatewayPrinng
To eecvely implement the Best
Place Project and achieve the
ancipated return on investment,
it will require a budget of $3.2
million. Five-year nancial
commitments to the Project will
be sought from both private and
public sectors.
Funds generated will be earmarked
exclusively for the implementaon
of the various eorts outlined in
the Project as outlined on the
following pages.
Funding the BestPlace Project
$1.0M
8/7/2019 Best Place Project
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Strategy 2 :Increase Innovaon,Entrepreneurshipand Small Business
Support
Five-year Budget:$800,000
This part of the Best
Place Project is designed
to foster the success of
Missoula area entrepreneurs.
High-growth technology and
knowledge-based businesses
that generate export revenues
will be targeted specically.
The Project leadership
and instuonal partners
will connue to connect
entrepreneurs with necessary
assets in order to remove
barriers to growth, driveup revenues, and increase
employment opportunies for
all residents.
Planned taccs/strategies include:
Enhance exisng programand develop new ones toimprove our areas overallinnovaon/entrepreneurshipclimate and to providespecic opportuniestargeted to small business,
entrepreneurs and specicbusiness sectors. Host fourregional entrepreneurialevents annually.
Deepen the exisngrelaonship with theUniversity of Montana TechTransfer oce and theirdegree programs whichsupport the developmentof entrepreneurs. Partnerwith UM to develop abasic innovaon andentrepreneurial programto teach students howto create, develop andcapitalize new productsand service ideas. Grow theprogram to include localpublic and private highschools.
Evaluate innovaon andtechnology opportunies,including alternave energyand green iniavesthat best t the Missoulaarea. Develop programs toconnect exisng companiesand start-ups to theseopportunies.
Implement a program forStage 2 entrepreneurs(companies with $1-25million in revenue) withthe potenal for signicantgrowth. Provide assistanceto four Stage 2 companiesthrough resources,informaon and conneconsnecessary to realize theirgrowth.
Expand fundingopportunies forentrepreneurs by developingventure capital angelnetworks.
Expand and enhance exisngidea evaluaon (pitchnight) programs thatconnect entrepreneurs tosuccessful business peoplewho then oer guidanceon development of newbusinesses around thoseideas.
Brad&WendyReidDiversiedPlascs
Weareasecond-generaonfamilybusinessinMissoula.Weappreciateraisingourfamilyinaclose-knitcommunity.Ourkidsbenefitbyattendingsmallerschoolslikewhenweweregrowingup.Ourcustomersalways
commentaboutwantingtovisitMontanaand
enjoythebeautythatsallaroundus.Itsfulfillingtorealizethatwereabletoownabusiness,raiseafamily,andenjoylifeinaplacewheresomanyotherpeoplewanttovacation.
$800K
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Strategy 3 :Aract New Businesses toEnhance and Diversify theLocal Economic Base
Five-year Budget:$1.2 million
The greater Missoula
area has many assets
that make it aracve to
a diverse range of businesses.
Our key assets include:
Access to a quality workforceat compeve wages
An exisng industry baseincluding medical andhealthcare services
Highly desirable geographic
locaon and quality of life
Smart-growth goalssupported by the community
Impressive infrastructurecapacies
The University of Montana
The Missoula InternaonalAirport, and more.
Targeng Best FitIndustries:
The focus of this part of
the Best Place Project is to
educate and recruit new
businesses to the city of
Missoula and Missoula County
with an emphasis on targeted
industry segments that would
especially prosper in the local
environment.
Planned taccs/strategies include:
Create a leading-edgewebsite to be the regionsvirtual front door. Thesite will feature a regionaldatabase with corporatedata and lisngs, targetedindustry job posts, a regionalnewswire, and a publicinformaon portal.
Iniate proacve personalcontact with targetedprospects by aendingand sponsoring events atselect trade shows andconferences, and hosng
target groups within ourregion for symposiums andtrade events.
Obtain non-paid naonaland internaonal mediaexposure by using newsand feature material aboutMissoula County to generateposive coverage.
Build partnerships withother organizaons tomaximize use of ourcommunitys businessdevelopment resources.
Conduct mulple annualbusiness prospecngmissions and trade eventsto reach site consultants.Involve volunteer businessand professional leaders,
elected ocials, andacademic leaders on strategyand recruing missions totarget-rich environments.
Host annual inboundrecruitment mission forbusiness site decision-makers with top-levelinvestors included ineach event.
Create fresh, breakthroughmarkeng materialsaccompanied by accurate,current economic data withour disncve Missoulaarea style. Use these torespond to inquiries and for
distribuon at trade showsand other events.
Implement a markengstrategy designed to aracttargeted rms, site seleconspecialists, and corporatereal estate execuves.
IwasdrawntoMissoulabytheblendofaesthecs,itssizeandthefriendlinessofthepeople.Missoulahasbecomeanidealplacetoraiseafamily.Withitsmixofoldandnew,Missoulaoersapaceandalifestylethatsupportsthecreavethi
nkingmycompanyneeds.Wecanliveandworkinthemountains,surroundedbyrivers.Lifeisrelaxedhere,allowingmoremeandenergyforinnovaon.
AlexPhilp,Ph.D.,PresidentandCEOGCSHoldings,Inc.
$1.2M
8/7/2019 Best Place Project
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JoanMandeville,CEOBlackfootTelecommunicaons
IwasaractedtoMissoulabyitssizeandlocaon.Itslargeenoughtohaveaworkforcehighlyskilledindatanetworking,sowaredevelopment,andotherspeciales.HavingtheUniversityofMontanaandtheCollegeofTechno
logyhe
recontributestotheexcellentqualityofemployees.Wecanhirelocallyoraracttalentfromoutofthearea.PeoplewanttoliveinMissoula.Oncehere,theywanttostay,soemployeeturnoverislow.
Strategy 4 :Investor Relaons &
Communicaons
Five-year Budget:$200,000
Maintaining high levels
of investor condence
in the Best Place Project will
require the highest level
of transparency, rapid and
accurate communicaons, and
complete accountability. It will
also mean that Missoulas rst
team of business and elected
leaders will need to take an
acve role in keeping the
Project on task, on me,
and on budget.
Specic oversight
responsibilies will fall on a
steering commiee whosemembership will evolve more
fully as funds are commied.
The steering commiee will be
comprised of individuals whose
nancial investment is clear
tesmony of their commitment
to the programs success.
Planned taccs/strategies include:
Hire the professional stanecessary to implementthe Project. Hold sta andimplemenng partnersaccountable for execungthe strategies and achieving
measurable results.
Keep Project eorts freshand responsive to marketchanges and opportuniesduring its ve-year life span.
Create a governing boardconsisng of nancialinvestors in the Project(public and private) whowill oversee the distribuonof funds, development oforganizaonal policies andpracces, establishment ofsound nancial pracces,and the hiring of qualiedpersonnel.
Keep all investors inthe loop and providemeaningful and aracveopportunies forparcipaon for alllevels of investors.
Remain accountable toinvestors by generangmeaningful updates oneconomic impacts achievedand also on measurablereturns on investment.
Perform annualbenchmarking to measurethe Projects producvityand eecveness, producespecial events, orientaons,regular periodic reports,and an informave seriesof newsleers.
SureshK.Daniel,CEORockyMountainBiologicals,Inc.Asafatherandanavidsherman,IndMissoulatobeaperfecttforraisingmyfamilyaswellaspursuingmyloveofyshing.Asabusinessowner,IcansaywithoutquesonthatRockyMountainBiologicalshasbeenbuiltwithMissoularesourcesandsustainedbyitspeople.Thewell-educated
localworkforceconnuestomakeitpossibleforourcompanytoputdownrootsinthisuniqueseng.
$200K
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Expenditure Distribuon in Missoula County, MT
in Millions of Dollars 10 20 30 40 50
Housing
TransportaonFood
Insurance & Pensions
Entertainment
Healthcare
Cash Contribuons
Apparel
Miscellaneous
Educaon
Personal Care
Alcoholic Beverages
Tobacco Products & Supplies
Reading
$44.3
$19.7$15.9
$13.6
$7.5
$6.9
$4.4
$4.2
$2.4
$2.2
$1.6
$1.1
$0.6
$0.4
The Project targets the creaonof 2,500 new primary jobs. Theripple eect of these new jobs hasbeen computed based on regionalmulpliers. These mulpliers showthe eect of the addion of one jobor one dollar in any given industryto the employment and earningsfor all industries.
The value of any job to the regionseconomy varies by industry, of course.Jobs based on signicant capitalinvestment have a higher wage rateand generate a greater ripple eectthroughout the regions economy.Less capital-related jobs generate asmaller economic value. These jobsoccur in retail, services and someof the lower-skilled manufacturingindustries. Lower salary levelstypically correspond with thesecategories of employment.
Five-yearFundingProposedSummaryBestPlaceProjectFunding
Strategy 1Support Growth of Exisng
Businesses$1,000,000
Strategy 2Increase Innovaon,
Entrepreneurship and SmallBusiness Support
$800,000
Strategy 3Aract New
Businesses to Enhance
and Diversify the LocalEconomic Base
$1,200,000
Strategy 4Investor Relaons &
Communicaons$200,000
Economic Impact Analysis
The economic impact analysisquanes the extent to whicharacon and expansion acviesincluded in the proposed Best PlaceProject will smulate economiceects, generate employment,income and business acvity. Thereport shows the total economicimpact, direct and indirect,measured in terms of jobs andincome. These impacts have beencalculated through an input-outputeconomic model customized toreect Missoula Countys economy.
Economic Impact Analysis
The economic impact analysisquanes the extent to whicharacon and expansion acviesincluded in the proposed Best PlaceIniave will smulate economiceects, generate employment,income and business acvity. Thereport shows the total economicimpact, direct and indirect,measured in terms of jobs andincome. These impacts have beencalculated through an input-outputeconomic model customized toreect Missoula Countys economy.
StaceyMueller,PublisherMissoulian
METRICS DIREC TIMPACT
INDIRECTIMPACT
INDUCEDIMPACT
TOTALIMPACT
Jobs 2,500 1,386 1,134 4,875
Earnings(Payroll)
$92,500,000 $88,069,120 $47,184,640 $172,975,000
D isp os ab le Pers on al I nc ome $1 50 ,4 88 ,2 50
Net Personal Consumpon Expenditures $124,905,248
Deposit Potenal For Area Financial Instuons $60,195,300
Economic Impact of Jobs
Analysis provided by Economic Strategy Center, the research and analysis division of NCDS, Inc.
ScoBurke,PresidentandCEOFirstSecurityBank
DirkVisser,CEOAllegianceBenetPlanManagement
JeFee,PresidentandCEOSt.PatrickHospitaland
HealthSciencesCenter
Your Part in theBest Place Project
Through your investmentand support of the Best PlaceProject, local businessesand governments will see ameasurable return on theirdollars while helping to improvethe economic outlook andquality of life for everyone whocalls Missoula County home.
As is the case with anysuccessful economic
development eort, job creaonis at the core of the Best PlaceProject. By creang 2,500 newprimary jobs in the city ofMissoula and Missoula County,the Project will serve as thecatalyst to smulate exisngbusiness growth, spearheadcommunity improvements, andbuild the strong relaonshipsthat exist within our businesscommunity.
The only queson is how big arole will you play in the successof the Best Place Project?
Design: Spiker Communicaons
Photography: Bryant PhotographicsPrinng: Gateway Prinng
Campaign Co-chairsJoin us today in moving Missoula forward.
8/7/2019 Best Place Project
9/9
2401 S. Catlin StreetSuite 206Missoula, Montana 59801
(406) 327-1470
Printed on recycled paper using eco-friendly inks
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