international economic development council - bre metrics
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BR&E Measuring EffectivenessLessons from the Field
A Regional Business RetentionAnd Expansion Program
Sara DunniganVP Existing Business Services
Greater Richmond Partnership, Inc
Launched in Sept 2006 2,700 interviews conducted >115,000 jobs represented Identified Opportunities -
◦ 724 companies planning to create 6,600 new jobs
◦ 545 expanding businesses with investment of $276 million
◦ More……
Our BRE Program History
Critical Success Factors Shared Motivation for Change Holistic ED Strategy Focused Program Plan Defined Outcomes Defined Roles Shared CRM (technology) and Customer
Service Philosophy Integrated Resource Team Marketing and Communications Strategy Continuous Improvement
Motivation for Change Build on existing model Create sustainable year-round effort Leverage and engage volunteers Increase understanding of issues Engage network of service providers Utilize new technology Direct resources and analyze results
New Busine
ss Attraction
Existing Business Retention and
Expansion
New Business Creation
Workforce
Developme
ntECONOMIC
DEVELOPMENTSTRATEGY
Regional BR&E Plan
Strategic Plan Annual Work Plan
◦ Objectives◦ Tactics◦ Accountability
White Space◦ Opportunities
Defined Outcomes - Evolving 500 interviews each year 60% completion rate 100 companies assisted 1,500 new jobs $50 million in new capital investment Build effective regional support team Market and promote program resources GROW THE PIE
Focus on Results
Quality versus quantity Jobs retained and jobs created Value of services provided Hours of service provided Private and public investment Cost savings Increased sales More
Partner ResponsibilitiesRegional program manager, support process and
technology, market program benefits and outcomes, amplify the business intelligence. Support volunteer recruitment, engagement and coordination
Local program manager, outreach strategy, volunteer management, service provider and follow up
Outreach volunteers, conduct interviews
Referral partners, receive and respond to specific requests for assistance.
Shared CRM and Project Management Philosophy Comprehensive needs assessment Responsive Desire to understanding regional
business factors Real time information sharing Focus on problem solving Metrics on results
Relentless Focus on the Client
Company
Local Government
Workforce Services
Financing
Sales/Business development
Planning and Process
Improvement
MORE
Unique needs – unique solutions Single point of contact – local ED office Economic development Workforce development Business finance Technical assistance International trade More
Integrated Resource Team
Stay here. Grow here.
We’re building a better business climate one company at a time.
Shared Message
Regional Marketing Strategy
Regional Marketing Strategy
• Website
• Blog
• Annual Report
• Newsletter(s)
• Social Media
"I haven`t failed, I`ve found 10,000 ways that didn`t work" -Thomas Alva Edison
On Program Improvement
A bad system will beat a good person every time. ~W. Edwards Deming
I shall try to correct errors when shown to be errors, and I shall adopt new views so fast as they appear to be true views. ~Abraham Lincoln
Plan, PLAN, work the plan, revisit the plan Communicate, over communicate, repeat Gang up on the problems, not each other Be strategic – manage the PORTFOLIO Focus on the CLIENT Focus on CONVERSION Get SMART, make smart friends ASK for the business
Smart Program Foundations
Don’t let them be your master Jobs are not enough Think long-term
◦ GMP by sector◦ Productivity by sector◦ Cluster-building◦ Workforce-building
More on Metrics
Questions?Let’s Connect!
Sara J. Dunnigan804-343-6968
www.linkedin.com/in/sarajdunniganTwitter
www.twitter.com/saradunnigan