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The Tennessee Business Retention and Expansion Course is a one and a half day course which focuses on how to develop, implement and evaluate an effective retention and expansion program. Presentation from Judith Hill, Director of Existing Business at Nashville Area Chamber of Commerce.
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Nashville ChamberJudith Hill, Director of Economic
Development
Partnership 2020 Team
Business Recruitment Existing BusinessRetention & Expansion
Talent Development
Economic Development
International Business – “Nashville and the Global Economy”
Partnership 2020 Strategic Drivers
Cluster Development & Enhancement
High Growth Entrepreneurship & Small Business Development
International Business
Innovation / R & D Capacity
Corporate Relocation
Business Retention & Expansion
Tourism Support
Economic Diversity Place / Livability
Sustainability / Environment
Downtown Business Development
Asset Development
Public ServicesBusiness Community
Engagement
Community Support
Alignment of Talent Supply & Demand
Workforce Development
Attract & Retain High-Skilled Talent
Talent Development
Legislative Business Agenda / Advocacy
Mobility / Transit
Economic Development Collaboration
RegionalismLand-Use and Infrastructure
Nashville Economic Market
1.8 million people live within the 10 county region
Economic Diversity of the RegionNashville: Diverse Economy
Partnership 2020 Target Industries
By Focusing Efforts on 15% of business generated through relocations, economic developers miss out on opportunity to assist 85% of the market place.
-Tiip Strategies
BRE Programs are Important
BRE Programs are Important
• Defense:– Keep them from moving someplace else– Help them survive and thrive– Assist them with growth needs– Increase their competitiveness so they grow
• Offense:– Best source of relocation leads – they have leverage
• Customers• Suppliers
Providing Available Assistance
• Labor Force Data• Workforce hiring
assistance• Training• Access to educational
infrastructure• Site search & access• Incentives or
connection to incentives
• Solutions to obstacles
• Utility Costs & Comparisons
• Data on business climate / policy
• Introduction to potential customers / markets
• Transportation access• Quality of Life – and
personal connections to community
Inbound Events (July 2012 - June 2013)Inbound Marketing: Building on our Brand
Inbound Events (July 2012 - June 2013)Existing Industry Programs
• GEAR: Quarterly Meetings• Face-to-Face Company Visits• Collecting Data to Report to Leadership
and Elected Officials• Meeting with the Corporate Office
Los Angeles
New Orleans
Atlanta
Orlando
Denver
San Diego
Traverse City
Indianapolis
Columbia
New York City
Dallas
Austin
Chicago
Outbound Marketing: P2020 Team Trips
Results: Jobs and InvestmentFY 12/13 Scorecard
Number of announced projects
Number of announced jobs
New capital investment announced
New square footage of space to be occupied
Jobs retained by existing companies
Proactive Visits
Expansions
93
9,342
$1,026,471,649
6,852,407
7,622
400
Expansion Highlights(since 6/30/13)
The Current Pipeline – Existing Business
35 Total Projects
representing 7860 jobs
The Most Important Asset
Existing businesses create approximately 80% of the new jobs
within a community.
Nashville ChamberJudith Hill, Director of Economic
Development