Best Place Project

8/7/2019 Best Place Project

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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


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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.


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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


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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.


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.


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


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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.


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.


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2401 S. Catlin StreetSuite 206Missoula, Montana 59801

(406) 327-1470

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Best Place Project