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Missouri Partnership: Driving Economic Development Initiatives

Discover the role of Missouri Partnership in economic development. Learn how they support businesses in Washington, attract new ventures, and foster growth. Find out more about their strategies and initiatives.

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Missouri Partnership: Driving Economic Development Initiatives

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  1. Missouri Partnership Briefing

    City of Washington / 11.7.2012
  2. What is Economic Development? Keep and growexisting businesses Help launchnew business start-ups Attractexpanding and relocating businesses
  3. Where Does the Partnership Fit In? Keep and growexisting businesses Help launchnew business start-ups Attractexpanding and relocating businesses
  4. Our History “Marketing and sales” for Missouri Established in late 2007 Public-private, not-for-profit status Offices in St. Louis and Kansas City $2.7 million annual budget comprised of contract funding and foundation investment
  5. Our Mission Get Missouri in the game HOW: Aggressive, proactive marketing effort to position Missouri as a place to expand or relocate Help Missouri win the game HOW: Team approach with multiple local, regional, state, and private-sector partners aimed at persuading companies to choose Missouri
  6. Our Strategy – Marketing Air Campaign Ground Campaign Product Development
  7. Our Strategy – Recruitment Assemble the Right Team, Every Time Focus on Impeccable Customer Service Control What Can Be Controlled
  8. Our Deliverables Elevate Missouri’s profile and image Generate opportunities to compete Consummate business recruitment wins
  9. Our Operating Environment What does our pipeline of deals look like? What matters to companies? What are our clients looking for? Where and how are the deals coming in? What are the types of deals out there? What are the odds of getting a look? What are the odds of winning a deal? Why and how are deals lost?
  10. Our Pipeline CONTACT PROSPECT / INQUIRY ACTIVE PROJECT WIN
  11. Pipeline Snapshot 10/31/201210/31/2011 Active Projects 8162 New Jobs 22,50013,400 New Annual Payroll $502mm$338mm New Investment $7.4bb $2.8bb % from Consultants 51%46% % involving FDI 31% 26% Prospects/Inquiries 10619
  12. What Matters to Companies? 20122011 Highway accessibility 1st 1st Available skilled labor 2nd(tie) 7th Labor costs 2nd(tie) 2nd Corporate tax rate 4th 6th Real estate costs 5th(tie) 4th Source: Area Development 2012-2013 Corporate Survey
  13. What Else Matters to Companies? 20122011 Incentives 5th (tie) 5th Energy costs 7th 9th Tax exemptions 8th 3rd Proximity to markets 9th 17th Labor climate 10th 11th Source: Area Development 2012-2013 Corporate Survey
  14. What Are Our Clients Looking For? 2012 (YTD)2011 Real estate searches 34 37 Want existing building 24 28 Want greenfield site 9 8 Want building or site 1 1 Statewide search 15/34 12/37 St. Louis region 7/34 11/37
  15. What Are Our Clients Looking For? 2012 (YTD)2011 Avg. building (industrial) 154K s.f 131K s.f. Avg. building (office) 15K s.f. 28K s.f. Median greenfield site 30 acres n/a Avg. greenfield site 328 acres 77 acres % needing rail 32% 24% % needing rail (site only) 70% 70%
  16. Where Are the Deals Coming From? 40 to 50 percent of deals in pipeline are via consultants 2011 site search statistics: 19 out of 37 real estate searches represented by a third-party consultant 2012 YTD site search statistics: 19 out of 34 real estate searches represented by a third-party consultant
  17. How Are the Deals Coming In? States Tier 1 metropolitan regions (e.g. St. Louis) Tier 2 metro regions (e.g. Springfield, Columbia) Ex-urban / rural communities
  18. What Types of Deals Are Out There? New facility expansions with a national or multi-regional search geography New facility expansions with a narrowly defined search geography From outside the state (e.g. auto suppliers) From within the region (e.g. satellite operations) Existing facility consolidations or relocations More common in a slow economy
  19. What Are My Odds of Getting a Look? Is the company/client interested in our part of the state / country / world? Do we have a workforce that this company can hire and train to do the job? Do we provide the best cost and value solution to the company/client? Do we have a building or site that meets the basic needs of the proposed new facility?
  20. What Are My Odds of Winning a Deal? Business attraction is highly competitive! Henry VIII and the many fates of a deal e.g. Since 2010, the Partnership has converted approximately 10 percent of its pipeline (including “prospects” and “active projects”)
  21. Our Long-Term Challenges Product awareness Product perception Product vs. Packaging
  22. Why Missouri? Top 10 State for Doing Business (Pollina) Top 10 best corporate tax index (Tax Foundation) Top 10 best regulatory climates (Forbes) Top 10 tax/regulatory climate (US Chamber) Top 10 lowest energy costs (EIA) Top 10 for economic competitiveness (ALEC) AAA bond rating for 22 straight years $250B economy that’s 4th-most diverse (BEA)

  23. Christopher Chung

    President and Chief Executive Officer Missouri Partnership chris@missouripartnership.com
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