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IEDC Marketing and Attraction: Understanding

the Product

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Who Are My Heroes?

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Questions We Will Answer

1. What is the purpose of knowing everything about my community?

2. What data should I measure about my community?

3. Who are the audiences for the data I produce?

4. What formats do those consumers want information in?

5. How to use data to position your community

6. What data should I measure about my organization?

7. How should I go about selecting targeted industries?

8. Who in the organization should do this work?

9. What tools make it easier for me?

10. What should I outsource versus do in house?

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Download the slides, listen to the video, continue the dialogue

• Continue the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd– Tweet questions using hashtag #AskAtlas– Join Next Gen Economic Development Marketers

LinkedIn Group

• View and share the slides with your colleagues (available now):

http://bit.ly/fQB6hC

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How To Vote via TextingEXAMPLE

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What is the purpose of knowing everything about

my community?

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A model for high performance economic development

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What hasn’t changed:

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

Our main value is the information we possess.

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What has changed:

The ways we start conversations have changed forever.

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What High Performance Economic Development Is

• It is the first measurement of the outcomes (Inquiries, jobs, capital investment) that EDO’s create on this scale.

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

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

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What Data Should I Measure about my

Community?

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Don’t reinvent the wheel – start where others have left off

http://www.iedconline.org/?p=data_standards

Demographics Four year colleges Labor Union information

Labor Force Community colleges Transportation assets

Employment by industry

Vocational/ technical centers

Real estate occupancy

New companies to the area

Payroll costs by industry

Utilities

Military bases Average salary by occupation

Environmental information

Research institutions Workers comp costs Government

International resources Quality of Life Available Real Estate

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Who Are the Audiences for the Data I Produce?

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Consider your audience when spending your time:

1. Site selectors and companies value workforce, labor, cost, and other comparative data.

2. Your investors, stakeholders, and other local businesses want to know about the performance of the economy over time.

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Tracey Hyatt Bosman

1. Based in Chicago, IL2. Former economic developer 3. Specializes in renewable

energy and data centers

Midwest Practice Leader – Biggins, Lacy and Shapiro

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What Tracey needs and doesn’t needWhat We Need• Contact information• Incentive programs• Tax rates• Recent announcements• Industry-targeted info• Map of your territory• Largest employers• Area colleges and

universities

What We Don’t• General labor statistics• Secondary source wage

information• Real estate listings• Rankings• Distance to other major

cities

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Keith Gendreau

• Based in Cushman & Wakefield’s headquarters in New York City, NY, moving to Minneapolis this fall

• Consulting Manager within C&W’s Global Business Consulting division

• Geographer by Trade. Master’s Degree in Economic Development

• Very specialized skills in GIS analysis and tools

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Site Selection Trends • The location strategy process has remained largely unchanged over the past decade. What

has changed are the timeframe and tools for which to deliver results and recommendations. Today, more so than ever, clients are:

• Making decisions quickly and efficiently;• Seeking available buildings meeting specific requirements;• Cost sensitive (labor, utilities, freight, occupancy, incentives offset); and,• Interested in the ‘bottomline’ operating cost vs. non-cost environment classic tradeoff.

• General Trends• C&W Business Consulting has experienced a significant uptick in site selection activity

by foreign companies seeking to manufacture products locally in the United States vs. abroad

• Exchange rates and rising transportation costs a possible contributing factor to foreign interest

• Continued revelation of spatial integration of data

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Decision Support Data Sources and Tools

Geographic Information Systems (GIS) Mapping

Location specific wage database

C&W Team, 150+ years of specific relevant experience

Comprehensive demographic and segmentation database

Spatial and non-spatial data integration

Comprehensive Industry employment forecast, population mobility data

• C&W Global Business Consulting maintains the most up to date demographic databases and spatial analysis tools to execute projects of this type.

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• Situation: – Headquarters relocation from Midwest– Includes a new showcase manufacturing facility– Critical international air service requirement

• Once 2 priority metros were identified, a sub-market location screen was conducted:– Headquarters

• “Cluster” analysis focused on satisfying executive lifestyles including, quality-of-life, commute times, and airport access.

– Manufacturing Facility• Facility must reside within 45-60 minutes of the new headquarters. Human

resources driven, other key considerations include sites/buildings and incentives.

• Results support:• Site recommendations for due-diligence field study (define top two

headquarters and three manufacturing in order of preference)• Viability of least preferred markets• Likelihood and magnitude of incentive benefits

Case Study 1: Workforce Analysis

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Case Study 1: Workforce Analysis

• To identify best HQ submarkets, the analysis focused on resident characteristics aligned with relocatee demographics and quality-of-life indicators.

• Plotting of “executive lifestyle clusters” (green shading) within a 60-minute drivetime of Philadelphia airport.

• Client expressed interest in considering the Navy Shipyard as a possible co-location scenario for both manufacturing and headquarters operations.

• Radnor submarket & vicinity identified as optimally positioned for maximum regional commutable executive housing options.

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Your local stakeholders want your opinion and analysis

1. What are the trends in the local economy?

2. What does this data mean?

3. What does it mean for their business?

LAEDC: 25,000 person mailing list, updates sent weekly

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What Formats Do Those Consumers Want Information in?

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Sample Formats and Delivery

Data Delivery method

Format

Workforce data Online, in GIS system

In GIS system, exporting to excel

Employment data Online Downloadable Excel

Cost data Online Downloadable Excel

Infrastructure Online GIS maps and illustrated maps

Commentary on the economy

Online, in print Narrative

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What Data Should I Measure About My

Organization?

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Key organizational data (for internal use)

1. Interactions with the organizationa. Web visits

b. Inquiries and companies served

2. Impact of the organizationa. Jobs created/influenced

b. Capital investment

3. Other operating metrics

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Benchmark your community’s activity against similarly sized communities

http://Atlas2012BenchmarkingSurvey.questionpro.com

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Sample report

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How Should I go About Selecting Targeted

Industries?

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How to select targeted industries

• The easy way: Use the industries that states and regions you are in have selected

• The hard way: Do your own research, and do positioning statements for each industry. If you have no differentiators for an industry, don’t select the industry.

• The expensive way: Hire a firm for a 3-9 month study

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DIY: Foundation for positioning

1. Decide on your audience2. Understand their drivers and needs3. Understand who your comparison communities

are4. Do the research on yourself and the other

communities5. Find out the one or two unique elements of your

community

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How to use data to position your community competitively

Positioning is answering the following questions:

Who are my target customers? What are their needs?What type of community are we in their minds?What needs of theirs do we meet?What needs of theirs do we meet better than other communities?

For: Aerospace, Biomedical location decision makersWho need: Highly technical workforce, competitive labor costs, and access to intl. airportHouston is: a large regionThat offers: Workforce trained by NASA and the Texas Medical Center, and a cost of doing business that is 5% below the national averageUnlike: Other large cities, Houston has a larger workforce pool at costs as much as 30% less than comparable coastal communities.

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Who in the Organization Should Do This Work?

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Roles in the organization (in house)

Title Research they access

Key audience served

Executive All All, including investors, stakeholders

Business Development

Product research Relocating, and Expanding companies

Marketing Product research Relocating, and Expanding companies

Research All Internal and external audiences

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What Tools Make it Easier For Me?

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What tools are available to you to understand your community?

Government Sources Private sources

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Tools to gather organizational data

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What Should I Outsource Versus do In House?

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What should I outsource vs. do myself?

Data Do in house Outsource

Comparative product data

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Time series product data and narrative

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Organizational data

X

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Contact Atlas

Contact information:

1128 Grant Street

Denver, CO 80203

Contact: Ben Wright

t: 303.292.3300 x 210

benw@Atlas-Advertising.com

www.Atlas-Advertising.com

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