1

2

Questions we will answer

1. How do we as a profession feel about the impact we are making on our communities today?

2. What are the basic principles that should drive your economic development marketing?– What should our marketing, job creation, and capital investment objectives be?

– How will we know if we are successful?

– How can we be more relevant to our investors, boards, and stakeholders?

3. What can we learn from high performing communities?

4. How can we implement high performing marketing programs in our own communities?

3

But first…Cutting through the clutter:

The world we work in

4

5

6

Do we as economic developers make a difference?

7

How To Vote via TextingEXAMPLE

8

Poll Question:As a practitioner, how much do you think you impact the overall economic activity in your area?

9

A few principles that drive (or should drive)

economic development

10

“Economic development organizations increasingly operate under much tighter budgets at a time when the need for economic development programming is becoming more crucial to the continued vitality and competitiveness of a community.”

International Economic Development Council in

“High Performing Economic Development Organizations,” 2011

11

What worked 20-50 years ago is

not the same as what works today.

12

What hasn’t changed:

To make a difference, we have to serve companies directly.

If we are not having conversations, we are not making a difference.

13

What has changed: The ways we start conversations

have changed forever.

14

Poll Question:Did your organization set measurable goals for your marketing this year (2013)?

15

A simple framework to help define success:

16

What “High Performance Economic Development” is• It is the first measurement of

the outcomes (Inquiries, jobs, capital investment) that EDO’s create on this scale.

• It proves the ways we make a difference, and in some cases, the ways we don’t.

• It can help drive your strategic and marketing planning using actual outcomes, instead of activities, using national benchmarks as your guide.

17

Who participated

18

The Framework

19

20

21

Key finding: Tremendous variance in results Budget Level

LOW JOBS ANNOUNCE

D

HIGH JOBS ANNOUNCE

D

LOW CAPITAL

INVESTMENT ANNOUNCED

HIGH CAPITAL INVESTMENT ANNOUNCED

LOW INQUIRIE

S

HIGH INQUIRIE

S

Under $100,000

20 243 $500,000 $442,000,000 5 214

$100,000 to $249,000

2 1,500 $600,000 $250,000,000 1 400

$250,000 to $499,000

5 5,000 $300,000$4,500,000,000

3 600

$500,000 to $999,000

4 4,283 $235,000$2,500,000,000

15 670

$1,000,000 to $2,500,000

35 8,000$10,000,000

$650,000,000 5 4,000

Over $2,500,000

6 16,835$1,500,000

$2,200,000,000

3 1,425

22

EDO Performance, benchmarked by population

POPULATION YEARLY WEB VISITS

INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

Less than 25,000

7,779 43 115 $24,951,083

25,001 to 100,000

5,790 90 411 $81,263,040

100,001 to 250,000

23,339 112 737 $330,501,622

250,001 to 1,000,000

48,533 157 1,696 $335,914,394

1,000,000 to 2,500,000

42,753 327 3,035 $378,869,231

Over 2,500,000 23,516 603 6,134 $502,258,333

Average for all Sizes

25,562 146 1,293 $234,366,814

23

EDO Performance, benchmarked by staff size

STAFF SIZE AVERAGE YEARLY WEB VISITS

AVERAGE INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

1 11,603 56 176 $45,676,585

2 to 3 9,269 85 493 $186,364,000

4 to 9 45,237 161 1,696 $267,705,000

10 to 19 47,977 184 2,859 $469,212,381

20 or more 49,836 799 6,279 $548,110,000

Average for all Sizes

25,562 146 1,293 $234,366,814

24

EDO Performance, benchmarked by budget

Budget Level AVERAGE YEARLY WEB VISITS

AVERAGE INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

Under $100,000

1,240 45 85 67,050,000

$100,000 to $249,000

5,635 59 300 40,047,027

$250,000 to $499,000

12,006 85 542 219,461,767

$500,000 to $999,000

13,755 129 712 210,183,125

$1,000,000 to $2,500,000

30,552 335 1,617 212,146,897

Over $2,500,000

68,819 193 3,987 499,600,294

Average for all Sizes

25,562 146 1,293 $234,366,814

25

Who are the highest performers?

26

Who are the highest performers in key categories?

27

What Does Your Organizational Leadership Expect of You?

28

What’s Your Organization’s Version of Economic Development?

29

What can we learn from the top performers?

30

How the Indy Partnership Defines Economic DevelopmentAs an economic development practitioner for over 20 years, Marty Vanags

has worked in communities such as Rockford, IL, Bloomington, IL, and Indianapolis, IN. In recent years, Marty has been one of the biggest proponents of using all forms of media as a tool to develop relationships with the business leaders and residents in the communities he works in. Marty has hosted ongoing radio shows, contributes to his own blog, and uses Twitter consistently to communicate.

“The definition of economic development for me is about developing relationships with, and solving problems for business. I have worked in communities that have been successful at retention, recruitment, and entrepreneurial development, all at different times. Today, social media and my radio shows allows me to cast a wider net than I could even ten years ago – developing and maintaining more relationships – allows me to solve more problems for my community.”

- Marty Vanags, Vice President, Regional Economic Development, The Indy Partnership

31

COLUMBUS 2020 – Leading the way using a good ‘ground game’“Having been on the “other side” as a site selector, I can tell you that I try to run Columbus 2020 with the customer in mind. Under my watch, we have invested heavily in business development staff, because we believe a good “ground game” makes a huge difference for us. Only recently however, and partially because of High Performance Economic Development, have we started to build our marketing capability. I believe strongly that for Columbus to be successful, we need to drive more conversations with our business development staff.”

-Kenny McDonald, Columbus 2020, the Columbus Region

32

High Performers: A Day In the Life….

Janet MillerChief Economic

Development OfficerNashville Area Chamber

of Commerce

Emailjmiller@nashvillechamber.com

Sara DunniganSenior VP, Existing Business

Services& Talent Development

Greater Richmond Partnership

EmailSdunnigan@grpva.com

Clint KolbyProject Manager

Brenham Economic Development Foundation

Emailclint@brenhamtexas.com

33

Case Study 1: Nashville Area Chamber

34

Nashville Challenges

• “Music City” brand association with old-line country music can paint negative image for business

• Shortage of IT workforce with 5+ years experience limiting factor on tech-company growth

• National attention to state legislature and political infighting around immigration, incentives, etc. damaging for state image

35

Nashville Goals• Annual dashboard of metrics include:

– Job growth – 12,500/year– Per Capita Income growth – 1.6%– Population growth – 1.5%/year– Increase GDP – 2.3% /year– Relocations & Expansions

• Number, Jobs, Cap Investment, Square Footage, Jobs Retained

– Internal Metrics – prospect visits by industry sector; % ratio of RFP’s to site visits, etc.

• Successful launch and implementation of IT recruitment project including– Number of tech jobs created, time to fill, etc.

• Legislative scorecard

36

37

38

Nashville Tactics• Get the tools

right..nashvilleareainfo.com; RFP process and design; slide decks

• Consistent marketing over a period of years to target audiences………site selection consultants #1– Music = Creativity is the message

• Play to strengths rather than weakness – e.g. health care services versus biotech

• Policy work on state and local level…

39

40

Nashville Results

• Ranked number one for job growth in Atlas Advertising 2012 survey of ECD groups, Top 3 in 2013

• Top Ten Economic Development Group in America, Site Selection Magazine, 2011

• City named:– #1 – Kiplinger’s “Future Job Creating Machines”, 2012– #3 – “Future Boomtowns”, Forbes 2012– #2 – Top Start Up Paradise, Young Entrepreneur Council

2012– #3 – Overall America’s Best Cities, Travel + Leisure 2012– #2 – Most Cost-Attractive Business Location, KPMG 2012 – Top 10 U.S. Culture Cities – Homes Dot Com, 2012

41

The Corporate Relocation Story

42

Nashville Learning's

• Embrace who you are• Public-private sector leadership is key• Metrics matter• Acknowledging weakness is first step to tackling it• People will fund what they are passionate about

– Nashville Entrepreneur Center Launch– Tech Talent Campaign

43

Case Study 2: Greater Richmond Partnership

44

Richmond Region Challenges• Bringing together 4 strong localities around shared

vision• Integrating private sector investors and interests• Relatively successful – no crisis• Diverse economy – no single strong industry

“identity”• Slow growth economy, competitive neighbors• Existing business program needed a boost• Little brand awareness• Tight labor market

45

Greater RichmondWork Program• Business Attraction Regional Marketing• Business Retention and Expansion• New Business Formation & Small Business Support• Talent Development and Promotion

46

Greater Richmond Tactics• Sound foundation in strategic plan – clear

message to investors and community– Our work has impact - economic impact

• Revisited the plan assumptions – cluster study

• Reoriented work programs to support the above goals

• Developed internal scorecards and management tools

• Refined data systems and tracking methodology

47

Greater Richmond Tactics• Business Attraction Regional Marketing

– Cluster Focus– Domestic/International– Engage Stakeholders

• Business Retention and Expansion– Cluster Focus– High Growth– High Impact

• Talent Development and Promotion– External Market– Cluster Focus– Graduate Retention– High Demand Occupations

• New Business Formation & Small Business Support– Innovation– Peer Learning

48

So, What Do They Measure?

49

How do they share?

50

Greater Richmond Results• Specific job creation and investment (and more) goals – by

program of work• Attraction program emphasis on quality vs. quantity• Invested in web-based CRM, workflow system• Launched refined collaborative BR&E program• Launched talent portal – RichmondJobNet.com • Launched virtual relocation resource – LoveWhatYouFind.com• Scorecards developed for management, board and investors

51

Greater Richmond’s Learnings

“We can’t control the direction of the wind, but we can adjust our sails.”

‘Jobs & capital investment still matter’

• Link & understand process, output and outcome metrics• Alignment, accountability and transparency• Change when conditions change• Embrace technology• Explore “link and leverage” strategies• Focus on conversion• Transactional vs transformational

52

Case Study 3: Brenham Economic Development

Foundation

53

Brenham Challenges

• In the shadow of Houston and Austin

• Seen as more of a tourism destination

• Small pool of skilled labor• Lack of available

commercial buildings

54

Brenham Goals

• Build awareness with site selectors • Familiarization tours with commercial

real estate brokers• Reach out to existing primary

employers• Strong workforce development

partnership with local college and school districts

• A leading website that gets 7,000 + visits per year

55

56

Brenham Tactics

• Direct e-mail campaigns • Site visits and windshield tours • Survey with local primary

employers• Industry tours and training

programs• Relevant and updated website

content

INSERT SCREENSHOT OF SURVEY or SAMPLE EMAIL CAMPAIGNS

57

Brenham Results

• 66% increase in the number of conversations

• 100% increase in the number of proposals submitted

• 50% increase in the number of ongoing prospects

• Top micropolitan in Texas by Site Selection magazine for second year in a row

58

Brenham Learnings

• Embrace regionalism • Make yourself known• Business retention &

expansion is the meat and potatoes of rural economic development

• Workforce development is a major ingredient for success

59

Poll Question: After this session, are you more, the same, or less convinced that you can make a difference in your community?

60

Take the survey to participate:http://atlas-advertising.com/Community-Benchmarking-Study.aspx

61

Thank you!

Contact information:

1128 Grant StDenver, CO 80203Contact: Guillermo Maziert: 303.292.3300 x 232Guillermom@Atlas-Advertising.comwww.Atlas-Advertising.comLinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace