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Economic Development 101 with an Emphasis on Data

Economic Development 101 with an Emphasis on Data. Presented by:. Janet L. Ady. Presented to: Wisconsin Geographic Information Coordination Council May 23, 2011. 1. About Ady Voltedge.

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Economic Development 101 with an Emphasis on Data

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  1. Economic Development 101with an Emphasis on Data Presented by: Janet L. Ady Presented to: Wisconsin Geographic Information Coordination Council May 23, 2011 1

  2. About Ady Voltedge Focused on providing research, positioning, branding and marketing services to Economic Development Organizations (EDOs) nationwide Services include target industry research, turnkey websites, marketing plans, marketing materials, ad campaigns Unique point of difference: Voice of the site selector Research emphasis CMS modules tailored to the economic development industry 2

  3. Key Points The site selection process is one of elimination. Websites, data and GIS all play a key role in getting a community, region, or state on the radar and keeping them in the running for new business investment (job creation and capital investment). 3

  4. Main Economic Development Strategies Three main economic development strategies: Business Attraction Business Retention & Expansion (BRE) Business Start-Up Flavors and trends: Tourism Economic Gardening Role of states, regions, and local groups 4

  5. Business Attraction Approaches “Target Industries” or “Industry Clusters” Standard Industry Sectors Manufacturing Distribution/Transportation/Logistics R&D/Technology Back Office/Call Center/Regional office Corporate Headquarters 5

  6. Business Attraction: Site Selection Top-down, funnel approach to identifying finalist locations Websites are #1 way to learn about a location Two main times a website is referenced Specific information is needed at each step of the process 6

  7. What an EDO Has to Communicate • Its strategy(ies) for economic growth • Whether it is focusing on target industries or not • Its positioning • Overall • By target industry or standard industry sector • Data and content to support the above • Specific tools • Maps • Sites & buildings database 7

  8. Positioning For umbrella positioning: • Overlay most important locational criteria by segment with area’s assets • Pull out the ones that are Unique • Base your story on these For positioning to target industries, use the same process. 8

  9. Key Locational Criteria (Think GIS!) Four categories of locational criteria: Market characteristics/geographic orientation Operating costs Operating conditions Quality of Life Additional locational criteria related to available properties: Property listing information Local infrastructure, incentives (TIF), etc. 9

  10. Market Characteristics Representative criteria: Geographic orientation (local, regional, multi-state) Major Employers Unusual assets (University, military installation, ports, etc.) Proximity to markets Proximity to suppliers Labor force and commuting patterns 10

  11. Operating Costs Representative criteria: Labor Available property Occupancy costs Taxes Utilities 11

  12. Operating Conditions Representative criteria: Labor availability Management labor relations Utility reliability and capacity Labor productivity Business resources/services 12

  13. Quality of Life Representative criteria: Cost of living Access to quality education Access to quality healthcare Recreational and cultural amenities 13

  14. Available Properties Information Property listing information: For sale or lease, rail access, cost, photos, etc. Local infrastructure: Utility lines TIF districts Flood plains Etc. 14

  15. Available Properties Information Several companies market Sites & Buildings databases to the economic development market In Wisconsin, GIS Planning is the state-sponsored vendor URL is LocateInWisconsin.com. Has been working with WIGICC to identify additional layers available statewide 15

  16. Next Steps 16

  17. Thank You Janet Ady Ady Voltedge WIGICC Board Member jady@adyvoltedge.com 608.663.9218 Email Janet for a copy of this presentation. 17

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