economic development alliance strategic plan
DESCRIPTION
2012 Economic Development Alliance Strategic Plan - FINALTRANSCRIPT
ECONOMIC DEVELOPMENT ALLIANCE
STRATEGIC PLAN
April 15, 2012
TABLE OF CONTENTS
1. Timeline Overview
2. Structure
a. Legal
b. Governance
c. Organizational
3. Program of Work – Garner Recommendations
a. Overview of Recommendation
b. Prioritization – Sequencing Timeline
c. Resources Required
4. Budget
a. Annual Operating Budget by Initiatives
b. Start Up Expense Budget
c. Overlay Budget with Chamber
5. Outcomes and Metrics – Measuring our Success
a. Operational
b. Outcomes
c. Other Success Factors
i. Investor Relations Strategy
ii. Enhanced Collaboration with Existing Economic Development
Professionals
iii. Enhanced Collaboration with New North
6. Future Key Dates
a. Investment Campaign Critical Dates
b. Organizational Timeline
7. Frequently Asked Questions
a. Economic Development Alignment/New North
b. Investor Relations
c. Measuring Success
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TIMELINE OVERVIEW
JANUARY 2011 – NEEDS ASSESSMENT OF THE REGION
o The leadership at the Fox Cities Chamber began interviewing key stakeholders
including members, business leaders, public officials and community leaders
regarding economic development strategy and overall global competitiveness of
our Fox Cities Region. The feedback indicated:
We need to focus more aggressively on creating jobs in our region
We need to provide resources to assist in business growth
We need to recruit companies to the region
We must develop an overall comprehensive, collaborative approach to
economic development versus a splintered, silo’d structure
We need to invest in economic development so that we can compete in a
global marketplace
There is a lack of a strong micro-region economic development
organization that serves the Fox Cities region
JUNE –NOVEMBER 2011 – CREATION OF ROADMAP FOR SUCCESSFUL NEXT STEPS
o Based on the feedback from the region, the leadership of the Fox Cities Chamber
did extensive due diligence and contracted Garner Economics. Jay Garner and
his team are international site location specialists that also work with regions to
make them more globally competitive. Garner’s work included:
A full assessment of the region by focus groups, surveys and individual
meetings, using the 74 most common indicators used by site selectors to
gauge our competitiveness
A benchmark analysis of our region to the state, the nation and the two
benchmark communities of Chattanooga, TN and Sioux Falls, SD
Identification of 4 targeted industry clusters for this region based on
potential growth in those clusters, proven track record with these
industries, and demand for these clusters in a global marketplace
Recommendations for the region in the areas of organizational, product
marketing and product improvement. These recommendations now
serve as the platform for the formation of a regional Economic
Development Alliance. The Economic Development Alliance will assist in
recruitment of new industries to the area, expansion of our existing
industries, and development of entrepreneurial activity.
A full presentation to the community, which occurred in November, a full
200+ page report and a final executive summary to be used in the
investment strategy
OCTOBER 2011 – INTERNAL INITIATIVE BRAND DEVELOPMENT
o The brand Ignite Fox Cities was launched to the community. Ignite Fox Cities is
the name for this economic development initiative and will be the internal brand
being used during investment campaign for the Economic Development Alliance.
NOVEMBER 2011 – BEGIN THE FORMATION OF THE ECONOMIC DEVELOPMENT
ALLIANCE
o An immediate recommendation to the region, that was embraced and acted
upon, was the forming a public/private economic development alliance to serve
as the comprehensive economic development strategy organization. This
alliance will allow for greater collaboration between the public/private sectors
and greater focus on job creation through attraction, retention, expansion and
gardening. The EDA will serve the region that encompasses all of Calumet and
Outagamie Counties as well as the northern portion of Winnebago County to
include Neenah, Menasha and Town of Clayton.
NOVEMBER 2011-NOVEMBER 2012 – SECURE INVESTMENT FOR ECONOMIC
DEVELOPMENT INITIATIVES
o Lack of funding for economic development in the region was clearly identified as
a major challenge for the region. Based on this challenge, the leadership at the
chamber did significant due diligence and interviewed several investment
companies that work throughout the U.S. to assist regions with investment
campaigns for economic development.
Resource Development Group (RDG) was hired to conduct the first phase,
the concept audit phase which tests the feasibility of running an
investment campaign in the region.
The concept audit was presented to the Board of Directors of the
Chamber in March, and based on the overwhelmingly positive feedback
from the public and private-sectors, the board voted unanimously to
continue the contract with RDG and move forward with a funding
campaign for economic development.
The finalization of the strategic plan, collateral materials for the
campaign and investor targets are being developed March-May.
The formal campaign will begin in May and will last between 6-8 months.
The campaign base goal is to raise $800,000 from the private and public
sectors with a stretch goal of $1,000,000.
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LEGAL STRUCTURE OF THE ECONOMIC DEVELOPMENT ALLIANCE
o The Economic Development Alliance will be a 501(c)3 subsidiary of the Fox Cities
Chamber using the existing Fox Cities Chamber Foundation. Designated
accounting practices will be utilized to ensure that investments for economic
development are segregated for solely that purpose and will be reported to all
investors in that fashion.
GOVERNANCE STRUCTURE FOR THE ECONOMIC
DEVELOPMENT ALLIANCE
o The Economic Development Alliance will be governed by the Chamber Board of
Directors. The Chamber Board will consist of an ideal size of 13-19 members,
which includes the Chairs of the Councils within the Chamber and the Economic
Development Alliance. The responsibilities of the Chamber Board of Directors
will be:
Attend monthly meetings to review financials, investments, program of
work, and strategic direction
Fiduciary oversight of both the Chamber and the Economic Development
Alliance
Strategic decisions for both the Chamber and the Economic Development
Alliance with consideration of recommendations from the Investor
Relations Council
o An Investor Relations Council will be formed that consists of all investors both
public/private investing in the Economic Development Alliance. The
responsibilities of the Investor Relations Council will be:
Attend the quarterly investor meetings to receive updates on projects,
activity and outcomes
Provide strategic guidance and direction on all aspects of economic
development
Engage in prospect development meetings within the region when
needed
o An Executive Committee of the Board of Directors will consist of the incoming
Chair of the Board, current Chair of the Board, past Chair of the Board and the
Treasurer. The responsibilities of the Executive Committee will be:
Meet with the President/CEO when needed
Provide insight and guidance to the President on any/all issues pertaining
to both the Chamber and the Economic Development Alliance
o Councils for the Economic Development Alliance will be formed to engage both
public and private sector leaders in the program of work initiatives of the EDA
including targeted industry cluster development, finance and incentive
packaging for recruitment and expansion, and small business and
entrepreneurial development.
ORGANIZATIONAL STRUCTURE FOR THE ECONOMIC
DEVELOPMENT ALLIANCE
o The President/CEO of the Chamber will oversee all current activities of the
Chamber and the Economic Development Alliance.
o The Executive Vice President/Chief Economic Development Officer will be
responsible for day-to-day oversight and engagement in all economic
development activities.
The Chief Economic Development Officer has been hired from a strong
national candidate pool and will start employment in May.
o The remainder of the team for the Economic Development Alliance will be
contingent upon the success of the investment campaign. Organizational
structure is established based on other EDC models, complimentary skills sets to
our CEDO, and may include:
Director of Business Development
Director for Center of Business and Economic Research
Director of Innovation and Entrepreneurship – shared with the
chamber
o Additional contracts or positions will include
Director of Existing Industry
Finance/Incentives
Marketing/Communications
Director of Competitive Workforce – current position under the
chamber but based on demand for workforce initiatives may be
shared between the two organizations.
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PROGRAM OF WORK – GARNER RECOMMENDATIONS
o The recommendations provided by the Garner Report have been vetted, prioritized and categorized into three categories. They are:
Igniting Business Growth – 9 recommendations Igniting our Brand – 5 recommendations Igniting our Regional Community – 13 recommendations
o The recommendations are listed individually in the following section with focus on three areas:
Overview of the recommendation – the direct recommendation from the Garner report as well as who would be the responsible lead
Prioritization – Sequencing Timeline– proposed timeline for implementation,
completion and/or ongoing support contingent upon successful investment
campaign
Resources required – includes staff costs as well as monetary costs. Yearly
budget expectations includes necessary staff to support the recommendation
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BUSINESS RETENTION AND EXPANSION EFFORTS EXISTING INDUSTRY SUPPORT
o Overview of Recommendation
The Fox Cities Chamber works within its economic development structure on
visitations to existing companies. The purposes of these visits are to help
facilitate the resolution of any issues with existing companies that may impede
their expansions. It also serves as business intelligence for the Chamber to learn
about issues that affect industry clusters from a specific industry’s perspective.
The Chamber uses volunteers to make many of these calls representing a cross
section of its membership. In our work with existing businesses and with our
database of best practice examples of successful BRE (Business Retention and
Expansion) programs throughout the U.S., we have seen two common
denominators:
A Chamber or EDO has little impact on what they can actually do to assist
an existing business with an issue since many of those items that existing
business express concern or need help with are controlled by public
policy makers, or they have a need for capital. Usually at the very most,
all a Chamber or EDO can do it serve as a facilitator or catalyst to direct
their concerns to the appropriate entities; in short, they serve as a
messenger.
Most existing companies prefer having an official person call on them
representing an EDO or government agency such as a City or County,
rather than a volunteer. Many companies feel that a volunteer has a
professional motive for calling on them, such as trying to sell them a good
or service, and companies may not share with the respective volunteer
enough important information to make the visit valuable.
As such, we recommend that the Chamber not utilize volunteers in the visitation
process and have a full time staff person devoted to BRE engaged in areas of
business expansion and workforce development (making sure that industries’
needs correlate with those of academia related to curriculum).
o Prioritization – Sequencing
Existing industry support is extremely important to our community and is a
critical piece of our overall strategy. For optimal success, we must increase the
engagement of the municipalities in the retention program. This is currently
being championed by the existing Fox Cities Economic Development Partnership
and the Chamber Business Retention Committee. The existing structure is being
adjusted and a comprehensive business retention and expansion plan will be
implemented in the 4th Quarter of 2012.
o Resources Required
Existing industry support is highly relationship driven, thus needing adequately
funding for staffing. Success is also dependent on successful tracking and
reporting of company visits. Software upgrades will be needed to support the
increasing demand. The operational metric goal will be to complete no less than
120 existing industry calls per year.
Estimated Cost - $100,000 per year
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ESTABLISH TARGET INDUSTRY WORKING GROUPS FOR EACH OF THE FOUR FOCUSED TARGETS – NEW AND EXISTING INDUSTRY SUPPORT
o Overview of Recommendation
Four industry clusters have been identified as target industry clusters for our area they are:
Food Processing
Innovative Technologies
Transportation Equipment Manufacturing
High-Value Business Services The Chamber should create task forces or working groups that seek input into
the knowledge of other business leaders within these clusters and industry targets. These business experts can help the Chamber craft specific messages and marketing activities related to the clusters and the related targeted industries. These business experts can also lend advice on existing industry expansion within these clusters specifically around supply chain management and relationship management.
o Prioritization – Sequencing
Target working groups will be developed as we increase the capacity of the staff team. This is very staff intensive with projected date of 3rd Quarter of 2013 for all four target working groups to be functioning.
o Resources Required
$20,000 per year
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COMPANY SOLICITATION – NEW INDUSTRY SUPPORT
o Overview of Recommendation Staff and key volunteers of the Chamber should call on targeted companies
based on the highest cluster of their geographic concentration on at least an annual basis. Applied Marketing will be providing a list of qualified companies through the qualified lead generation efforts so that the Chamber can plan these company visitation trips effectively.
o Prioritization – Sequencing
Active company solicitation will begin in 2nd Quarter 2013 once the new website, marketing collateral and targets have been established. The operational metric goal will be 40 quality industry calls annually in the four identified target clusters.
o Resources Required
Staff and monetary resources needed $70,000 per year
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CONSULTANT SOLICITATION – NEW INDUSTRY SUPPORT
o Overview of Recommendation The Chamber should call on site location consultants that represent these
targeted companies to explain the benefits of locating in the Fox Cities region. Many of these consultants are based in Atlanta, Chicago, Dallas and the New York/New Jersey metro area.
The Chamber should also organize and execute familiarization tours of the region. These are targeted trips for site consultants to come and experience the region first-hand.
o Prioritization – Sequencing
Consultant outreach and relationship building has already begun but by 2nd Quarter 2013, a very proactive program will be in place with a goal to attend at least 4 consultant forums annually and engage with no less than 50 quality consultants annually.
o Resources Required
Both staffing and monetary resources will be needed for successful consultant solicitation
$55,000 per year
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LEAD GENERATION AND TARGET PROFILING – NEW INDUSTRY SUPPORT
o Overview of Recommendation
The Chamber will be receiving a list of qualified prospects from Applied Marketing Sciences through the contract with Garner Economics. Applied Marketing will target the universe of companies within the industry targets and sub-targets noted in the report that will offer the Chamber the best opportunity for investment within the region.
The targeting process is scientific in nature, evaluating key metrics, including: sales, employment, growth, number of locations, and other relevant factors. Company activities and events that indicate expansion or consolidation—such as mergers and acquisitions, executive changes, technology development, and overall industry trends—are layered on top of the numbers to identify the target companies that have the means and the indicative corporate behavior. This will allow the partnership to conduct its marketing efforts in a very focused and direct manner. However, the Chamber is not currently ready to receive this list of qualified leads, since both the current internal organizational structure and limited marketing funds will stymie an effective outreach effort, and would make any immediate marketing approach taken by the Chamber ineffective.
o Prioritization – Sequencing
Lead generation and target profiling will begin in 3rd quarter of 2013 upon full launch of marketing strategy, website and the necessary organizational capacity in place to address the demands of this recommendation. The lead generation will provide a platform for continual company solicitation and consultant solicitation.
o Resources Required
Both staffing and monetary resources will be needed for successful consultant solicitation
$75,000 per year
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INTERNATIONAL TRAVEL/BUSINESS SOLICITATION FOREIGN DIRECT INVESTMENT
o Overview of Recommendation
Business solicitation efforts know no boundaries. The Fox Cities region should pursue targeted businesses whether they are in Seattle or Singapore. However, it is crucial that the Chamber manage expectations with local stakeholders to understand that business recruitment abroad is a long term proposition (at least five years of focused effort). There should be an understanding to fund international recruitment efforts and to be diligent by going to those countries with the highest targeted number of prospects on at least an annual basis. To be successful in any job solicitation effort, foreign direct investment needs to be a part of an overall economic development strategy, including foreign direct investment cultural protocol, for which Garner Economics provides training.
The Chamber should also actively engage in the recruitment of foreign direct investment into the area. The federal EB-5 program would allow the Fox Cities to become a regional center that serves as a catalyst for foreign direct investment. Work with immigration lawyers and the US Immigration Service to expand and promote the EB-5 visa for immigrant workers in the Fox Cities region. This initiative can help derive entrepreneurial activity and investment to the region. The immigrant investor or EB-5 program is a highly beneficial permanent residence option for the wealthy individual. Since there is no quota waiting list in this preference category, it enables a foreign national to obtain permanent residence status more expeditiously than with most other options.
The EB-5 category requires an investment of $1 million (or $500,000 in a high unemployment or rural area) in a commercial enterprise that will employ 10 full-time US workers. Although the investor’s role cannot be completely passive, he or she does not have to be involved in any way in the day-to-day management of the business unless he or she wants to do so. It is critically important that the investor be able to document the lawful source of investment funds, whether his or her own or funds given to him or her as a gift. The permanent residence obtained by the investor is conditional for two years and can be made permanent upon satisfying USCIS at the end of the two years that the investment proceeds have not been withdrawn and the requisite jobs have been created.
The investor may invest in his or her own commercial enterprise or in a commercial enterprise owned by other parties. The investor may also choose to invest in a pre-approved “regional center”.
o Prioritization – Sequencing
A task force is currently preparing the application for the EB-5 program. Once that designation is given, there will be staff and monetary resources needed for marketing the program, reporting the results and overall foreign relations. The
international travel will begin in 3rd quarter of 2013 as it aligns with the lead generation and company solicitation strategies.
o Resources Required
Both staffing and monetary resources will be needed for successful consultant solicitation
$35,000 per year
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ENTREPRENEURSHIP AND INNOVATION
o Overview of Recommendation Almost all new jobs in the U.S. are created by entrepreneurial and innovative
firms, with an average age of 10- 25 years (firms) and in all sizes. Economic growth of a community typically drives small business startups. But new business startups have a high failure rate. The reality is that most small business owners are not entrepreneurial and are likely to remain small, so it’s imperative that any entrepreneurial program be focused on those companies and individuals that have the greatest chance of being economic generators for the community and export goods and services, which is a wealth generator.
Organizations such as the Chamber and ancillary organizations that are involved in economic development such as Fox Valley Tech, the Venture Center, UW-Fox Valley, the area K-12 public school systems, and other groups, should all engage entrepreneurship as a conduit to economic sustainability for the Fox Cities region. All of the above named entities (and other applicable ones) should incorporate some or all of the following as part of their short term business plan and long term strategic vision.
Recommendations related to Entrepreneurship:
Develop a base of early-stage capital options
Support angel investors
Ensure that risk capital is available in underserved rural areas
Put regulatory and licensing processes on-line
Use one-stop business and licensing models The Chamber also needs to promote and actively market innovation within the
region. New companies are drawn to communities that are progressive and innovative in thought. Utilize partnerships with existing education institutions, private-sector innovative companies, and other non-profits that are interested in enhancing the culture of innovation in the region.
o Prioritization – Sequencing There is recognition throughout the community that there are very strong
organizations like the Venture Center that are currently addressing this recommendation but with the significant amount of potential to create a culture in entrepreneurs can thrive, there are opportunities for additional collaboration and dedicated resources to entrepreneurial development. 1st quarter of 2013 is the goal to identify and implement complimentary programming, highlight innovative practices and conduct outreach to entrepreneurs in order to address this recommendation.
o Resources Required
Resources are varied with staffing and monetary support $40,000 per year
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WORKFORCE DEVELOPMENT
o Overview of Recommendation We believe that the quality of the K-12 schools system in the region is quite
good. Many of the college prep scores confirm our perceptions. STEM (Science Technology Science and Math) learning through the various high schools and career academies puts the Appleton region in a more competitive position than many other regions throughout the US, and those efforts to provide STEM curriculum locally should be applauded. Post-secondary education with the area colleges, universities and two year college is an asset to the region. However, in our focus groups with employers, large and small, it became evident quickly that most employers are having difficulty in finding a skilled and talented workforce, and that in the opinion of many of the employers, there may be a disconnect between what the end user (the customer) needs, and what is being taught in the schools. Recommendations related to workforce development follows:
Existing Industries Participation: Clusters are characterized by planned interaction among firms. It is recommended that the Chamber foster this type of synergy by broadening the cluster marketing working groups to include dialog associated with product improvement. These working groups or task forces would provide a forum for firms within a cluster to identify common needs (in terms of competitive and business climate issues such as infrastructure, skill set needs, etc.), and to communicate these needs to policy makers in the region.
Early College High School Initiative: Engage the K-12 school systems, Fox Valley Technical College and four year institutions in the area to work with the area high schools so that each high school student has the ability and option to graduate from high school with an Associate Arts degree from an area community college or two years of credit hours from a four year university.
There are many best practice examples of this approach working successfully around the U.S., but one of the most successful examples is the Early College High School Initiative funded by the Bill and Melinda Gates Foundation. Early College High School is based on the principle that academic rigor, combined with the opportunity to save time and money, is a powerful motivator for students to work hard and meet serious intellectual challenges. Early College high schools blend high school and college in a rigorous yet supportive program, compressing the time it takes to complete a high school diploma and the first two years of college, including community colleges and the ability to complete an Associate Arts degree. This gives the potential employer and possible new business the comfort that a ready work force can be found in the area. Learn more at http://www.earlycolleges.org/.
Create career awareness of cluster occupations through internships. In our focus groups with employers, a concern identified was a lack of awareness of existing firms and specific job openings within the region. The various employment organizations need to feature these companies and employment opportunities with students, graduates and educators.
A best practice example is the Intern to Earn program sponsored by HIRE, an alliance of colleges and universities in the Louisville, KY region. It is a program for identifying internships opportunities. The program works to improve the talent pool of workers and young talent in the Louisville area by recognizing that interns tend to return to the communities in which they interned, if they leave the area in the first place. The program is sponsored by the Greater Louisville Chamber of Commerce. http://www.greaterlouisville.com/InternToEarn.
Technical High School: In our work across the United States, a best practice example of vocational and technical education and the alignment of what employers need based on demands in the workforce is the Southern Indiana Career and Technical Center High School in Evansville, IN. The school was designed as a hub for the development and delivery of innovative, leading-edge career and technical education, workforce development and training for the entire Southern Indiana region with students attending from five counties. Students receive classroom and hands-on training in 18 diverse areas of study, using the latest emerging technologies and equipment. The programs offered have business advisory committees, through which teachers and business/industry representatives work together to develop curricula, identify equipment needs, and more. Programs and courses are added or modified on a regular basis as the labor market evolves.
It is recommended that the various school districts in the Fox Cities region explore this concept of offering a stand-alone, vocational and technical high school and use this best practice example as one to study and learn more about. Based on the needs that were heard from existing employers in the focus groups, this initiative could help fill a void in the workplace.
o Prioritization – Sequencing Workforce is one of the top three concerns of our existing businesses in the area
and access to that workforce is also a great concern when recruiting companies to the region. It is very high priority and is currently being addressed within the chamber of commerce program of work as well. Because of the significance of workforce development, additional resources and leverage are being added complimentary to the work the chamber is already doing. STEM collaborations with the area school districts and post-secondary educational institutions are already underway and more clear identification of roles and responsibilities as
well as a concrete workforce development strategy for the EDC is currently being developed and will be ready to launch in 4th quarter of 2012.
o Resources Required
Both staffing and monetary resources will be needed for successful consultant solicitation
$60,000 per year
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INCENTIVES – NEW AND EXISTING INDUSTRY SUPPORT
o Overview of Recommendation Each governmental jurisdiction that offers or provides incentives for new and
existing business should create a uniform incentive policy that incorporates policies and procedures based on a community’s return on investment and an economic impact analysis of the project. These policies should be posted on the respective government web sites so that companies and consultants both know what the rules are related to incentives from the outset. Best practice example: Wichita and Sedgwick County, Kansas. http://www.sedgwickcounty.org/ecodevo/gwedc.asp
The EDC should also work to further enhance opportunities for non-traditional incentives and financing options for both existing business and prospects.
o Prioritization – Sequencing Access to capital in one of the other top three concerns that we hear from our
existing industries and our entrepreneurs. The EDC has limited ability to raise that capital internally to fund business efforts; however, leveraging the relationships within the region to actively promote angel investment, micro loans, regional revolving loans, etc. must be done by the EDC. The chamber currently administers the Outagamie Revolving Loan Fund and staff is currently seeking other opportunities to add support to the finance/incentive initiative.
o Resources Required
Expertise in the financial/incentives arena is necessary on staff with the EDC, and resources will be needed to support this recommendation
$20,000 per year
FOX CITIES CHAMBER REORGANIZATION
o Overview of Recommendation To provide the very best in economic development service delivery, the
Chamber should be structured to focus of four key tenants to enhance the region’s economic vitality:
Economic Development (includes recruitment and service to existing business)
Small Business and Entrepreneurship
Community Vitality (includes public policy advocacy, leadership development, workforce and education
Operational Excellence (includes marketing and communication, membership, etc.)
The Chamber’s economic development function should be rebranded to give it a more regional flavor in scope since the Chamber’s service delivery serves multiple counties and municipalities. The EDA should use a professional branding firm to help establish the name of the Economic Development Alliance with an emphasis that the name must recognizable to the external global marketplace, must be on a map.
The EDC would have a Executive Vice President/Chief Economic Development Officer, and then based on the skill set of the EVP/CEDO, the demands of the strategic plan and the amount of investment that can be raised to support the economic development initiative, a team should be assembled that may include the following positions:
Director of Business Development
Director for Center of Business and Economic Research
Director of Innovation and Entrepreneurship – shared with the chamber
o Additional contracts or positions will include Director of Existing Industry Finance/Incentives Marketing/Communications
Director of Competitive Workforce – current position under the
chamber but based on demand for workforce initiatives may be
shared between the two organizations.
Administrative Support
o The skills sets and job responsibilities of these individuals will
be broad and fluid. In today’s world of economic
development, there are few narrow focused job descriptions
but rather jobs that are multi oriented on what is needed in
the marketplace. In short, these staff positions will be “jack
of all trades and masters of all.” From incentive preparation
to land use planning, today’s economic development
practitioners have to do it all and do it well.
The Fox Cities Economic Development Partnership (FCEDP), a business
attraction organization comprised of the municipalities, organizations and
utilities interested in the economic growth of the Fox Cities area and
managed by contract from the Chamber, would be reconstituted as an
Economic Development Advisory Committee (EDAC) of the Chamber with
those municipalities and related partners serving as investors through the
Economic Development Alliance. It is imperative for a region that there is
one key group to serve as the external voice of the area in marketing the
area, and the EDC would serve as that organization. However, it is equally
important that all of the communities in the region understand that you
market yourself regionally but sell yourself locally. EDAC allows for the
successful integration of marketing and selling to occur effectively based on
this organizational structure.
EDAC/Public Partner benefits should include:
o Participation in Economic Development Advisory Committee
public-member organizations discuss economic development
and marketing issues each month with the Alliance, and hold
one retreat per year to build and monitor a yearly business
plan to create opportunities across the Fox Cities
o Participation with the ATW Economic Alliance at various
trade shows and business development trips around the
world
o Access to funds to visit prospects seriously interested in their
communities and/or the region
o Customized community and client research for economic
development projects
o Marketing and public relations assistance
o Assistance in addressing local economic development
stakeholders (city/county boards, etc.)
o Prioritization – Sequencing Identified as the first priority, the EDC has been formed with support from both
public/private sectors within the region. The EDC will be the recognized economic development alliance for attraction, retention, expansion and marketing of the sub-region to include all of Calumet County, Outagamie County and the northern portion of Winnebago County. The EDC will be a subsidiary of the Fox Cities Chamber of Commerce. The formation of the Center for Business
and Economic Research will be formed in 3rd and 4th quarter 2012 which will provide the necessary data, reports and research needed to make our region globally competitive.
o Resources Required Both staffing and monetary resources are going to continue to be needed to
launch the start up of the Economic Development Alliance. The total start-up costs will be $705,000 which will be expended through the
normal operational budget of the chamber and reserve funds directed by the Chamber Board of Directors. A detailed description of all start up costs is located in the budget section of this document.
$60,000 per year is needed to support the Center for Business and Economic Research
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ENGAGE OUTSIDE COUNSEL FOR FUNDING
o Overview of Recommendation The Chamber should engage and retain a professional capital campaign solicitor
to do a five year campaign engaging both the public and private sectors. Conducting a feasibility analysis to see if a capital campaign can be successful is the first step in this process.
o Prioritization – Sequencing
The Chamber hired Resource Development Group in November 2011 to first conduct the Concept Audit Feasibility Analysis and then approved moving forward with the Investment Campaign to fund the Economic Development Alliance. The Investment Campaign is targeted to raise $800,000 per year for 5 years and will commence in November 2012.
o Resources Required
The funding initiative will need both staff resources and monetary resources. $25,000 Concept Audit $20,000 per month plus expenses during the campaign – not to exceed $180,000 This amount is included in the Start Up Budget begin funded by reserves directed
by the Chamber Board of Directors
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IMAGE SURVEY
o Overview of Recommendation The Fox Cities region has had a long and successful history of being a center for
manufacturing excellence. Today, 22.2% of the workforce in the region is
employed by manufacturing. Conversely, the region has a higher union profile
than many of its competitors and benchmarked regions. The region is also
experiencing a diversifying of the industry base and must be able to market that
to the external audiences.
As such, the Chamber should conduct a brand identity and image survey of the
region with site location consultants, companies within the targeted industry
recommendations and clusters, and large existing employers. The result of this
effort will help the Chamber to craft brand messaging based on the assets and
challenges of the region as perceived by the customer and potential client. This
should be done in partnership with other external organizations involved in
economic development, such as the local economic development organizations,
the CVB, and any other ancillary group that markets the region externally for
investment. The Chamber will need to engage a firm that specializes in brand
analysis and recommendations. These types of firms are typically found in large
urban areas such as Chicago and New York and can communicate and analyze
the opinion of the Chamber’s many customers in how the region is perceived.
o Prioritization – Sequencing
4th Quarter of 2012 and 1st Quarter of 2013 is the targeted timeframe for this image survey. We must effectively conduct the image survey then enhance the unified brand and website development.
o Resources Required
Staff and monetary resources needed $35,000 one time cost within the start up budget
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UNIFIED BRAND
o Overview of Recommendation Groups that have some form of external marketing effort, led by the Chamber,
should create a unified external brand identity for the region, based on the
feedback noted above. Using a unified message and graphic identity will help in
global brand awareness, and pool marketing dollars and efforts. The name Fox
Cities is not associated with an external geographic identity. It’s not on a map. It
does have a valid internal geographic connotation with the citizens of the area,
but means nothing externally to those who have no knowledge of the Appleton
MSA. The region will need to brand itself effectively with an external marquee to
leverage marketing opportunities.
Best practice examples: Kansas City Area Development Alliance; Team NEO
(Northeast Ohio of Cleveland, Akron, Canton and Youngstown).
o Prioritization – Sequencing
1ST Quarter of 2013 is the targeted timeline for this recommendation. It must align with the image survey and website development.
o Resources Required Staff and monetary resources needed $65,000 one time cost within the start up budget
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WEBSITE DEVELOPMENT, LAUNCH AND MAINTENANCE
o Overview of Recommendation Though the Fox Cities Chamber web site does have some information that is of
value to potential investors, in many facets, it needs a major overhaul since a community’s web site is the most important marketing tool and as such, needs to be designed to offer the resources that meet your specific audiences need. In summary, our immediate recommendations to enhance the Chamber’s web site as well as the necessary linkages to the Economic Development Alliance site include:
Put globally positioned contact information (especially phone) at the top of each page and on all downloadable material.
Write a central homepage paragraph that describes the site’s purpose and the mission of your organization.
Integrate optimized, branded, thematic maps throughout the site to orient and inform your audience as they read related text.
Add data to increase substance to the site, focusing on data desired by site selectors and corporate end-users.
Restructure navigation to better serve your audiences, especially for recruitment. Consider orienting navigation by audience type such as site selectors and for each of the four industry targets.
Use a PDF creator so your visitors can customize documents on the fly.
Improve traffic to the site by focusing on search engine optimization in your site redesign.
Begin to incorporate social media application into your web strategy.
Translate a community overview and local statistical data via a PDF into Japanese, Chinese, Korean, German, Spanish, Portuguese, Hebrew (great growth opportunity from Israeli companies) and any other languages from countries that have an influx or interest into the Fox Cities region.
It is also critical for the Economic Development Alliance to purchase the necessary software for customer relations management, as well as GIS mapping systems for site inventory and location.
o Prioritization – Sequencing
Website development is critically important in the early stages of development as this is the main tactic for existing industry information and navigation as well as site consultants and company solicitation. It must be developed in alignment with the image survey and unified brand. This will occur in 1st Quarter of 2013
o Resources Required $75,000 one time cost within the start up budget $30,000 per year maintenance and upgrade costs
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MARKETING THE SUB REGION
o Overview of Recommendation Once the due diligence has been completed (image survey) and the message
developed (unified brand), then the Fox Cities Chamber should work in unison with the New North in messaging specifically for the sub-region of the three county Fox Cities region. In our focus groups, many of the respondents noted how important it was for the Fox Cities to get the message out about the value proposition of area. Since New North is focused on a 18 county macro region and, like Fox Cities, the name “New North” has no global recognition since it is not a city or county name and thus not found on a map—it’s imperative that the Fox Cities have their own marketing effort that will work in conjunction with New North, especially as it relates in leveraging marketing dollars.
Marketing of the sub-region is also critical for industry cluster development, existing industry awareness of programs and services, entrepreneurial opportunities, and announcements of critical importance to both the external and internal audiences.
o Prioritization – Sequencing
Marketing to the existing industries is critical beginning in the 4th quarter of 2012 but the major focus will be on 2nd Quarter of 2013 following the launch of the website, image survey and unified branding initiative.
o Resources Required
Staff and monetary resources are required $80,000 per year
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FOCUS THE EDC’S EXTERNAL MARKETING EFFORTS
o Overview of Recommendation Utilize the appropriate public relations firm or other external experts to identify
the best of these events to attend. Engage with industry experts, site selectors and regional partners to leverage attendance at trade shows and marketing events within the four target industry clusters.
o Prioritization – Sequencing
All marketing collateral and trade show materials must be developed in order to gain the best exposure which is targeted for 3rd quarter 2013. However, attendance will occur in 4th quarter 2013.
o Resources Required
Staff and monetary resources are needed $30,000 per year
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UNDERSTANDING THE ECONOMIC DEVELOPMENT PROCESS
o Overview of Recommendation In focus groups, we were surprised at the number of respondents who were
unaware of the complexities of the economic development process and how it impacts the Fox Cities region. There was a lack of understanding on what types of industry targets were compatible for the region, how incentives and claw backs work, what the role of the Chamber should be versus New North (a regional economic development group serving 18 counties) and what role elected officials do and should have in the economic development of the area.
The Chamber should offer quarterly forums of national speakers related to economic development for the benefit of both economic development practitioners and the associated local and regional volunteers and elected officials that represent the region as a resource to better understand the nuances, trends and activities related to economic development and how it impacts the Fox Cities.
o Prioritization – Sequencing
Ignite Fox Cities Forums have already begun and we have had 2 regional events to date. Every quarter the staff at the EDC will develop the topic, bring in experts from around the globe as keynote speaker and engage leaders within the region to attend.
o Resources Required
Staff and monetary resources needed $35,000 per year
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COMMUNITY BENCHMARKING VISITS (INTERCITY VISITS)
o Overview of Recommendation The American Chamber of Commerce Executives Association defines Intercity
Visits as regularly scheduled trips to another city or region taken by a diverse delegation comprised of leaders from a community’s public, private and nonprofit sectors. The visiting delegation and leaders from the host community discuss challenges and opportunities their community is facing. The visit provides an opportunity for interaction among city leaders, and facilitates exchange of best practices and lessons learned. These visits are often organized annually, and thus serve as a regularly scheduled chance for collective community visioning. Intercity Visits are led most often by local Chambers of Commerce, since those entities are normally responsible for serving as a catalyst and facilitator for positive change.
During our focus groups, many respondents mentioned that they wanted an opportunity to learn what other successful communities are doing effectively. Intercity Visits are a great tool and resource to build consensus amongst what needs to occur to enhance a community’s product and to gain buy-in for community initiatives. The Chamber is the only logical entity to lead this annual effort. Chattanooga, TN would be a logical first intercity visit for the Chamber based on the success they have had in their river front redevelopment, and in economic development as a whole, including funding.
o Prioritization – Sequencing
The target goal for the first community benchmarking visit will be for 1st quarter of 2013 with planning beginning in 4th quarter of 2012. One trip will be conducted per year.
o Resources Required
Staff and monetary support are needed; however individuals will pay a portion of their costs to attend the trip.
$15,000 per year
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POLITICAL INSTITUTE
o Overview of Recommendation A community’s quality of life and economic development success is predicated
on the quality of its public leaders, current and future, who are prepared to
serve with excellence and make a difference. Those communities that are
proactive have worked over the years by having the business community—most
typically represented by a Chamber of Commerce—host a political institute to
help train and increase understanding of the local political process.
Numerous comments were heard frequently in the focus group meetings about
how challenging the business climate of the region can be due to having many
elected officials that are perceived to be unfriendly towards business. A sample
comment that was equally reacted to with voices of agreement was, “We have
to figure out a way to get the private sector leaders more engaged in the local
politics. We need a local government that is pro-business and there to help
rather than hinder.”
It is recommended that the Chamber, representing the voice of the business
community, conduct its own political institute using the model of what is
working successfully in Jacksonville, FL. See the Jacksonville Political Leadership
Institute example to learn more about how this effort is done effectively on a
local level. http://www.jaxrpli.org/home.html
o Prioritization – Sequencing
Current staff at the Chamber is researching best practice political institutes throughout the country. A plan for execution for the first political institute will be available 3rd quarter 2012 with a targeted launch of the program in 4th quarter 2012.
o Resources Required
Staff and monetary resources needed $15,000 per year
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SHOVEL READY SITES
o Overview of Recommendation The Fox Cities area is limited on having fully served, shovel ready industrial sites
of significant size, often called mega sites. Because of that limitation, the Fox
Cites area will not typically be considered by projects that need a site in excess of
250+ acres. Additionally, those sites that are listed on the Chambers database of
available properties have sites available with less than 75 acres and with high
land prices compared to other competitive locations. An industrial site is defined
as a site under single ownership, for sale or lease at a published price, and with
all infrastructure in place to the site, e.g. water, sewer, roads, gas, electricity,
high speed internet access. Economic development officials and industrial
brokers in the region recognize that they are deficient in available sites and are
interested in identifying property that may be suitable for an industrial site or
industrial park. It may be the most cost effective for as many of the
municipalities in the region that can, to share in the development cost of a new
municipally owned Industrial Park at one location, which would also allow them
to share in revenue on a per capita investment ratio.
The Chamber should lead an effort to 1). Engage interested municipalities in the
region to participate in a jointly owned municipal park, 2). Solicit proposals for
land submissions to consider, and 3). Employ an engineering firm to analyze and
conduct due diligence of the top 2 sites for review.
o Prioritization – Sequencing
This recommendation will need leadership from the municipalities as well as the state. Currently the state is launching a shovel-ready site certification process. The EDC staff will engage in this training with the state, and will continue to serve as a catalyst for this recommendation. Due to staffing constraints the projected timeline goal for engagement with this recommendation is 3rd quarter 3013.
o Resources Required
Staff resources and monetary resources are needed. $40,000 per year
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SUSTAINABLE FUNDING FOR ECONOMIC DEVELOPMENT INFRASTRUCTURE AND PROGRAMS
o Overview of Recommendation
Each County or municipality should create a sustainable funding source for economic development that will benefit the Counties and region as a whole. This approach, if successfully enacted, is transformational in nature and would have a profound positive impact to the area. If enacted or developed, the Region will be able to differentiate itself as an innovator by creating a funding source for deal closing, entrepreneurial development, venture capital or early stage investment funding, product improvement (infrastructure) and marketing (with limitations). In 1979, the Texas Legislature decentralized economic development by giving cities and counties more control over their destiny and allowing each to vote on a one cent sales tax for those items described above. As a result, we believe Texas has the best practice example of sustainable funding for economic development that can be used broadly as it relates to economic development on the local level. Other strong regional models include Topeka, Kansas and Oklahoma City, Oklahoma.
According to the Fox Cities Chamber, Outagamie County alone had taxable retail sales in 2010 of $3,683,953,345. A $.01 sales tax devoted for economic development and product development following the Texas model would generate approximately $36,839,533 on an annual basis (a half cent would be $18.4mm; still a significant funding mechanism). This type of initiative is transformational and would truly set the region apart from many communities in the US.
o Prioritization – Sequencing
This recommendation is transformational and would raise this region to a whole new game, but it is also extremely controversial. Throughout 2012, the staff will be gathering data from other regions regarding their governance model, specifics of the funding source, and return on investment to that region. A task force will be formed in 1st quarter 2013 to continue the exploration phase and feasibility of the recommendation in this region.
o Resources Required
Initial resources are only staff, but if this is a viable recommendation, then monetary resources will need to be raised to launch a campaign.
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ONE STOP PERMITTING
o Overview of Recommendation Ideally, consolidated government would allow for streamlined efficiencies in the
review and permitting process. Understanding that the possibility of consolidated government may be a long term proposition does not dilute the need for government to be more efficient in its ability to work with businesses in the issuance of construction or occupancy permits. In the focus groups conducted to gauge the business climate of the region, there was strong consensus that the permitting process in many of the municipalities is broken and that the need for a “one stop permitting “ office would be a positive influence in the business climate of the region.
Typically, a One-Stop Review Center to streamline the permit system provides citizens with a central reviewing agency located in one office. At a One-Stop Review Center, a single permit for construction can be issued for building, landscaping, zoning, environmental resources, drainage, public safety (fire) and driveways, etc.
Best practice example is Brevard County, FL http://brevardcounty.us/onestop/home/
o Prioritization – Sequencing
This recommendation is a municipality-lead recommendation where the EDC will not take a lead role because we have little control over the end result. However, the staff will serve as a catalyst and facilitator for municipal meetings with key elected officials and municipal staff that can progress the recommendation.
o Resources Required
Minimal staff resources are needed.
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MUNICIPAL ECONOMIC DEVELOPMENT OMBUDSMAN
o Overview of Recommendation The municipalities in the region must heighten the level of importance of
economic development within the cities and counties. For example, the City of Appleton has a community development director whose responsibilities include efforts to enhance the quality of place within the city. They are involved in economic development in a de facto way (economic development is not mentioned on the City’s web site in a predominate fashion. Nor does the City have an Economic Development department. The City’s Community Development division serves that capacity by default, and they have no mention of economic development at all on their Community Development web portal). Most municipalities in the area do not have a true economic development director to help existing and new businesses through the maze of government policies and procedures when those businesses are seeking to develop, grow or expand in the area. The larger municipalities in the region should have a person dedicated on staff to serve as the liaison for jobs and investment support. Additionally, all of the municipalities need to have a strong business retention and expansion initiative, since most assistance that can be provided to existing companies typically emanates from local government. Most importantly, and what was discussed by many in the business climate focus groups conducted for this exercise, it’s important for government staff associated with economic development to be customer friendly and try to find a way to make something work rather than taking an attitude of “no.” Being adaptive and flexible is important in garnering success with job creation and capital investment.
o Prioritization – Sequencing This recommendation is a municipality-lead initiative where the EDC will not take
a lead role because we have little control over the end result. However, the staff will serve as a catalyst and facilitator for municipal meetings with key elected officials and municipal staff that can progress the recommendation.
o Resources Required
Minimal staff resources are needed.
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CONSOLIDATED GOVERNMENT
o Overview of Recommendation In many of the focus groups we have conducted with employers of all sizes,
comments were made about the need for local government(s) to operate more cost-effectively and efficiently, and with better customer service towards the public they serve. Economic growth and development occurs when a community can provide a competitive advantage and create an atmosphere of success for individuals and firms when they make a capital investment in the community. Government’s role is to provide a business climate that nurtures and promotes effective growth without being onerous for businesses of all sizes to operate profitably.
The Fox Cities region is comprised of three counties, 18 cities, villages and towns and 61 taxing authorities. The scale of perceived—and as noted by the taxpayer (businesses interviewed), real—inefficiencies in providing community services is significant. Often times to a non-resident, there is no separation of lines when traveling from one municipality to another.
The Chamber should engage the University of Wisconsin – Oshkosh School of Public Administration to conduct a Cost/Benefit Analysis of consolidated government, or at the very least, consolidated services in the region. We recognize some consolidation of services have occurred with police and fire protection. More needs to be done if the Region is to compete effectively in the global arena. Successful examples of consolidated government include Nashville, TN and Jacksonville, FL, both doing quite well in their job creation and wealth building efforts.
o Prioritization – Sequencing This recommendation is a municipality-lead recommendation where the EDC will
not take a lead role because we have little control over the end result. However, the staff will serve as a catalyst and facilitator for municipal meetings with key elected officials and municipal staff that can progress the recommendation. However, in 2013 staff will explore the recommendation regarding engaging a university to do a cost/benefit analysis of consolidated government
o Resources Required
Minimal staff resources are needed at this time If we proceed with cost/benefit analysis of consolidated government, we will
look to our public sector partners for additional resources
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AIRLINE SUBSIDY
o Overview of Recommendation The most realistic way for Appleton to enhance its air service is by subsidizing an
airline (revenue guarantee), e.g. Panama City, FL and Southwest Airlines; Wichita, KS and AirTran Airways.
o Prioritization – Sequencing This recommendation is an Airport Authority-lead recommendation where the
EDC will not take a lead role because we have little control over the end result. However, the staff will serve as a catalyst and facilitator for meetings with airport leaders. The reality is that the only realistic funding mechanism to allow this to occur is by implementing a sustainable funding source for economic development.
o Resources Required
Minimal staff resources are needed.
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FREE WIRELESS IN THE CENTRAL BUSINESS DISTRICTS
o Overview of Recommendation
Municipalities that are interested in attracting mobile entrepreneurs should
install free wireless broadband in the central business district, similar to what
has been done at the Outagamie Regional Airport. This largely symbolic effort
downtown will show mobile entrepreneurs that the community has embraced
technology and supports mobile entrepreneurs (people who can work anywhere
but select a community based on the quality of place and physical assets of a
location).
o Prioritization – Sequencing This recommendation is one that will be lead by the business districts/downtown
districts in the region. The EDC will not take a lead role but will serve as a catalyst and facilitator for meetings with district leaders.
o Resources Required
Minimal staff resources are needed.
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CREATING A CULTURE OF CREATIVITY AND OPENNESS
o Overview of Recommendation The Appleton Metro Region embodies a homogenous population. With more
that 90 percent of the residents Caucasian, it’s important to focus on an
embracement of diverse cultures and new ideas if the region wishes to be an
attractive location for both new and expanding investment, and new residents.
This means that the region should engage the concept of the “creative class”.
“Places that succeed in attracting and retaining creative class people prosper;
those that fail don’t.” - Richard Florida.
In Richard Florida’s book, The Rise of the Creative Class, Florida asserts that
companies move to where creative people are. Florida essentially overturns the
conventional wisdom that people tend to move where the jobs are. He rejects
the notion that areas replete with manufacturing, technological, and commercial
resources are automatically going to be able to attract the most and best-
qualified talent. Florida asserts that a reverse trend has been occurring that is
revolutionizing the geography of jobs. That is, those jobs go where the most
creative people are. In short, companies are more likely to choose locations
where there already exist a high number of people who Florida defines as “the
creative class.” Companies follow people, not the other way around.
Successful communities that engage Young Professionals and the Creative Class
have the following traits or initiatives in place:
A community of natural amenities, such as bike paths and walking trails
A vibrant urban district
An acceptance and celebration of difference and diversity
A focus on technology and business services
An embracement of the Arts and Culture
The Appleton area and various organizations are embracing some if not many of
these initiatives. But as one focus group respondent said, “we can do much
more.” Action Greensboro, a division of the Greensboro Partnership, is a leader
and best practice example in their efforts for their community to embrace
diversity and support the Creative Class. The City of Appleton (since they have a
diversity initiative) and the Chamber should learn more about this effort and
utilize Action Greensboro’s approach in engaging a broader acceptance of
diversity in the Fox Cities region. http://www.actiongreensboro.org/
o Prioritization – Sequencing This recommendation is one that the EDC staff will play a partnering/supporting
role. There are many other organizations, educational institutions, elected officials and community leaders that need to come together for this community recommendation. The EDC staff will serve as a catalyst for these meetings and the chamber will continue to promote this collaboration with our existing programs and young professional initiatives.
o Resources Required
Minimal staff resources are needed.
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BUDGET OVERVIEW
The strategic plan presents three budget scenarios: o Annual Operating Budget by Initiative o Start-Up Budget o Overlay Budget with the Chamber
Annual Operating Budget by Initiative
o Budget was derived from using best practice actual budgets from 10 economic development organizations throughout the country. Some of these organizations include Topeka, Oklahoma City, Greensboro, Little Rock and SE Indiana. Although some of these markets are quite a bit larger, we used proportionate ratings within the initiatives to come up with our Annual Operating Budget by Initiative.
o Jay Garner, Garner Economics and Rob Radcliff, Resource Development Group also served as consultants to give their feedback and guidance for the development of the budget
o This budget directly mirrors the recommendations in the Garner report. This will allow investors to see the program of work and the deliverables.
o The budget is based on experiential wisdom and best practices but may have to be adjusted as we proceed with the development of the Economic Development Alliance.
Start-Up Budget
o The start-up identifies costs that have or will incur through 3rd Quarter 2012. These include items such as marketing development, technology/software purchases, all of our contract with Resource Development Group for the fundraising, and staff costs directly associated with the Economic Development Alliance including the Chief Economic Development Officer recruitment and relocation.
o Cash Flow Projection - Resource Development Group has given the conservative projection that at least 25% of the campaign goal will be received in the 4th quarter of 2012, which is $200,000. Investment is very hard to predict but RDG utilized their experience with other campaigns. It is critical that we realize the sense of urgency as we move to market so that we may fully benefit from the current budgeting cycle, especially with the public sector markets budgets for 2013.
o The recommendation to the Board of Directors is that we utilize current reserve funds to fund the start-up of the Economic Development Alliance. The recent policy that was implemented by the Board at the March board meeting was to utilize reserve funds, as directed by the Executive Committee, for the start-up of the EDA but not to compromise the U.S. Chamber 5-Star Accreditation recommendation of operating revenue for 9 months.
That recommended amount would be $630,000 for the chamber, which includes all essential expenditures such as staffing, utilities, insurance, etc. It
does not include programming costs for the chamber because those are not mandatory as it relates to business operation.
The current liquid reserve balance for the chamber, excluding Octoberfest reserve funds is $1.65 million.
Therefore, the recommendation for start up funds in the amount of $575,000 does not compromise our reserve policy.
Overlay Budget with the Chamber
o Because the Economic Development Alliance is a subsidiary of the Fox Cities Chamber of Commerce, even though the funding is separate, it is still advantageous for the Board to see the overlay of the two organizations.
o The overlay budget presents the current Chamber budget, the actual numbers to date, the year-end projections.
o W/O Healthcare column is presented to give the board an overview on the budget if/when the health care program is eliminated. The full elimination is projected for 2014 but we have been notified by Network Health Plan that we would see ramifications of this as early as January 2013. Please reference the notes section of the budget as it reflects some aggressive assumptions regarding membership attrition as well as direct health care programming loss.
o Overlay with the EDA column indicates that although the chamber would have expenditures from the reserve fund initially, the EDA will actually absorb staffing costs directly related to economic development that will position the chamber stronger on an annual basis.
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Tab Divider
OUTCOMES AND METRICS – MEASURING OUR SUCCESS
Success of the Economic Development Alliance will be determined through results. The
foundation for this success is setting clear goals, managing expectations and consistent
reporting of activity and outcomes in the forms of metrics.
The goals for the metrics were set using best practices from 10 regional economic development
organizations that are of similar size as our marketplace, as well as the expertise from both Jay
Garner with Garner Economics and Rob Radcliff with Resource Development Group. Realities
need to be considered including:
o Economic Development Alliance is new, does not have a track record
o Best practice models are truly models and outcomes may vary
o Goals were set conservatively yet still competitively
o Goals will ramp up during the first year and will then be consistent from years 2-5
Investors in the Economic Development Alliance will receive quarterly written reports focusing
on current activity, prospect/business development status, and progress to date based on 5
operational metrics and 4 outcome metrics. Investors will also have the opportunity to engage
in dialogue as well as assist with strategic direction during the quarterly Investor Forums.
The 9 metrics that will be used to gauge our success are:
o Operational Metrics
# of Alliances visited locally
# of Locations and Alliances visited globally
# of Consultant Connections
# of Prospects
# of Suspects
o Outcome Metrics
# of Net New Jobs
$ of Increased Capital Investment
$ of New Tax Base
$ Per Hour/Wages
OPERATIONAL METRICS
o # of Alliances visited locally – identified at risk companies priority, followed by
companies in the 4 targeted industry clusters
Year 1 (Aug 2012-Aug 2013)
70 total quality industry calls
Years 2-5
120 quality industry calls annually
o # of Locations visited globally , either with the State, New North or autonomously
Year 1
2 domestic locations visited based upon industry target concentration
and identified priority locations based on industry experts, site
selectors and marketing results
Years 2-5
4 domestic locations and 2 foreign location visits
o # of Consultant Connections
Year 1
Attend at least 2 consultant forums and develop relationships with no
less than 25 quality site consultants
Years 2-5
Attend no less than 4 consultant forums annually and develop
relationships with no less than 50 quality site consultants annually
o # of Prospect Engagement - A prospect is a company or investor who has visited the
region, or who ED staff has met on their turf and a presentation of the region was
provided.
Year 1
Develop contacts with no less than 50 companies annually from direct
contact through various marketing efforts or through Applied
Marketing/Lead Generation
Years 2-5
Develop contacts with no less than 200 companies annually
o # of Suspect Engagement - A suspect is a company or potential investor who has
expressed inters in the region, either directly from the company, or in our
solicitation efforts.
Year 1
Develop contacts with no less than 75 suspect inquiries or suspect
outreach
Year 2-5
Develop contacts with no less than 300 suspect inquires or suspect
outreach annually
OUTCOME METRICS
o # of Net New Jobs:
Year 1
Stabilize net job loss from -800 in 2011 to a net positive gain
Year 2-5
Beginning with 250 Net New Jobs with a 10% increase per year for
the next four years
Overall net new jobs of 1160 for the 5 years
o $ of Increased Capital Investment
10% each year over the previous year
Capital investment will be tracked and reported utilizing the Dodge
Report or some equally accepted measurement tool, e.g. State of WI ED office.
o $ of New Tax Base Created
Through the new Center for Business and Economic Research, we will measure
the increase and value of the new tax base created per county based on new
jobs and capital investment. This measurement will be through an economic
modeling program widely accepted for this type of measurement, called
IMPLAN.
o $ per Hour/Wages
Ensures recruitment of high quality, high paying jobs
Goal is create jobs in the identified target clusters, which meet or exceed
the US average of $46,000 per job
Job creation in other industry sectors will be no less than the Appleton
average of $40,000 per job
OTHER SUCCESS METRICS
In addition to the operational and outcome metrics, there are numerous factors that
would indicate success.
o Investor Relations Strategy
Public and Private-sector investors in the EDA expect a strong
communications strategy that engages the investors in strategic
direction conversations. Investors also expect transparent reporting
while still adhering to the confidential nature of economic
development.
Investors will receive quarterly reports on activity, progress, and
challenges. They will also be invited to engage in a quarterly forum
dedicated to those that are investing in the Economic Development
Alliance
o Enhanced Collaboration with Existing Economic Development Professionals
Our region is fortunate to have many economic development
professionals working on behalf of business development in the
region. Despite what some may believe, the economic development
professionals in the region work very closely and are truly partners in
improving our overall business climate. The Economic Development
Alliance has been widely embraced by these economic development
professionals as catalyst for sub-regional economic development.
The EDA will enhance collaboration by:
Bringing all economic development professionals together
around a comprehensive economic development plan
Encouraging public and private sector economic development
professionals to engage and lead some of the
recommendations presented in the Garner report
Securing the necessary economic development investment
that will enhance our entire sub-region and will allow us to
have significant return on investment
Encouraging economic development professionals to engage
in the target industry cluster working groups and it will
provide support and strengthen our industry cluster work
Adding initiatives and resources to Fox Cities Economic
Development Partnership, which is already administratively
supported by the chamber
Establishing metrics that can be utilized to track the success of
the Economic Development Alliance as well as success within
the individual municipalities
Providing more staffing and resources to address the demands
of recruitment, retention and expansion, and entrepreneurial
development
o Enhanced Collaboration with New North
The Economic Development Alliance will provide the structure
needed to represent the sub-region of the Fox Cities. Currently there
is no sub-regional economic development alliance unlike other sub-
regions within New North.
The EDA will be able to provide staffing support, resource leverage
and additional points of contact for New North staff and leadership.
There are many initiatives of the New North strategy and the EDA
strategic plan that align very closely, yet not in a duplicative manner.
New North is critical for our macro-region and as one of the most
populated sub-regions, the EDA will be able to collaborate on regional
marketing, targeted industry development, attraction of new
businesses and expansion of our existing industries.
Critical for the success of the region is an understanding that all
economic development is local and the EDA provides that local point
of contact for attraction, retention and expansion. Regional
marketing and branding are essential, but economic development is
relationship-driven. The EDA is able to leverage the existing
relationships within the sub-region to work collaboratively on behalf
of the macro-region, and to address the needs of our existing and
new business demands.
Currently the President/CEO for the Economic Development Alliance
is on the Executive Committee and Board for New North and the new
governance model for the EDA will request Jerry Murphy, President of
New North be an ex-officio member on the Investor Relations
Council. This allows for transparency, open communication, creative
idea building on collaboration and first-hand engagement on the
critical initiatives of economic development.
At the end of the day, we are under-investing in economic
development and in order to gain the greatest return on investment,
the sub-regions must be sound and stable and they must play an
active role in the macro-region.
Major opportunities for collaboration exist in:
Industry Cluster Development
Incentive and Financing Options
Recruitment of New Companies
Existing Industry Expansion
Supply Chain Development and Management
Marketing the Sub-region and Macro-region
Tab Divider
FUTURE KEY DATES
o Investment Campaign with Resource Development Group
April 2012 – Campaign Collateral Preparation
Prepare marketing collateral
Finalize target prospect list of 300-400 public/private sector
May 2012 – Leadership Recruitment and Solicitation
Assemble the final Leadership Team
Begin investment asks from the Board of Directors
May-July 2012
Make public sector presentations and asks
o Based on alignment of the budgeting cycle to ensure
placement within the 2013 budgets
June-October 2012
Make private sector asks
November 2012
Wrap-up and formal announcement of success to community
o Organizational Timeline
April 2012 – Present offer to Chief Economic Development Officer, Offer
accepted
May 21st, 2012 – Start date for Chief Economic Development Officer
August 2012 – Assembly of Economic Development Alliance staff –
staffing level contingent upon campaign success level
November 2012 – First Investor Relations Council meeting, subsequent
meeting to follow quarterly
Tab Divider
FREQUENTLY ASKED QUESTIONS
What is the mission of the Economic Development Alliance?
o The mission of the EDA is to create opportunities for economic growth and
prosperity by actively attracting high value companies, providing the necessary
resources to our existing industries and cultivating the entrepreneurial spirit of
the region.
What is the defined service area for the Economic Development Alliance?
o The EDA serves all of Calumet and Outagamie Counties and the northern portion
of Winnebago County to include Neenah, Menasha and Clayton.
How is the Economic Development Alliance governed?
o The EDA is a subsidiary of the Fox Cities Chamber of Commerce and is governed
by the chamber Board of Directors.
o Strategic direction is given from the Investor Relations Council, which includes all
investors both public and private-sector
How is the Economic Development Alliance funded?
o There is a major investment being made by the Fox Cities Chamber during the
initial discovery phase to complete the economic study produced by Garner and
to engage a feasibility study conducted by RDG to determine the sustainability of
economic development in our communities. The operational budget will be
funded with both private and public funds with annual investments pledged over
five years.
How will investors engage in the Economic Development Alliance?
o The investors are critical to the success of the EDA. Investors are given the
opportunity to give feedback during the quarterly Investor Relations Forums.
These forums also provide investors with information on activity, progress,
challenges and success. Operational and outcome metrics are presented every
quarter at the forums as well as in written form to all investors.
How will we gauge success of the Economic Development Alliance?
o The EDA has very clear goals and metrics to determine the success of the EDA.
These metrics are based on operational and outcome metrics. They include
alliance visits, site consultant engagement/visits, prospect and suspect
engagement, net job creation, increase capital investment, increase tax base and
average hourly/salary wage. The metrics results will be published quarterly to
the investors and annually to the community. Financial results will be reviewed
and approved by the Board of Directors monthly. Annually, a formal report on
all progress will be prepared for the community.
What is the difference between New North and the Economic Development Alliance?
o New North is the macro-region economic development organization serving 18
counties in Northeast Wisconsin. Throughout those counties are numerous sub-
regional economic development organizations that focus on leveraging local
relationships to enhance the overall business climate and increase the global
competitiveness of the sub-region.
o New North focuses on 6 very broad but very important initiatives and has had
great success in connecting diverse industry leaders, elected officials and
economic development professionals. The EDA is more narrowly focused on
attraction of new companies, expansion of existing industries and cultivating
entrepreneurial activities.
o Some areas of significant collaboration are:
Resource and Staff Leverage
Target Industry Cluster Development
Addressing Opportunities for Existing Industry Expansion
Regional Marketing and Branding
Venture Capital Opportunities
A specific example is in the target industry cluster development.
New North has identified industry clusters that are critical for the
macro-18-county region, and the EDA has identified 4 industry
clusters that are critical to this sub-region. The industry clusters
may differ but both are very important. Therefore, the staff at
the EDA will aggressively pursue those 4 industry clusters and will
look to New North for additional contacts, resources and
expertise throughout the 18-county region that could would
enhance the overall outcomes.
o In order for us to have the utmost success, we must have a strong macro-region
with New North and strong sub-regions like the Economic Development Alliance.
We must increase our investment in economic development and developing
businesses throughout the region.
How does the Economic Development Alliance align with New North?
o Our CEO serves on the Executive Committee and Board of New North. Her
understanding of economic development and our strategic initiatives supports
the mission of the New North, and a strong alliance is being formed between
both entities. In addition, the CEO of New North will be asked to serve as an ex-
officio member on the Investor Relations Council for the Economic Development
Alliance to further enhance communication and best practice sharing.
How will the Economic Development Alliance provide additional collaboration for existing
economic development professionals?
o Our purpose will be to engage and communicate with all local economic
development professionals in the Fox Cities, regionally and at the State level. The
more we share our expertise, best practices and progress being made, the
greater the benefit will be for all parties involved.