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Town of Farmington Economic Development Commission Business Survey

Town of Farmington Economic Development Commission Business Survey. Presented to: July 20, 2010. Background Information. Study Objectives. To determine and quantify satisfaction with EDC solutions to business challenges To understand current business perspectives in ways that are:

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Town of Farmington Economic Development Commission Business Survey

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  1. Town of Farmington Economic Development CommissionBusiness Survey Presented to: July 20, 2010

  2. Background Information

  3. Study Objectives • To determine and quantify satisfaction with EDC solutions to business challenges • To understand current business perspectives in ways that are: • Timely • Scientific/Generalizable • Actionable • To gather open and honest feedback using an independent third-party on topics such as: • Business satisfaction with Town’s business related policies • Participation in Town sponsored/endorsed offerings and events • To guide strategic planning and other decision-making • To fulfill a request of the Town Council from the 2009 joint meeting

  4. Survey Methodology • Mode: Telephone Survey • Population: Businesses located in the Town of Farmington (2,022) • Completes: 155 (margin of error 7.57%) • Length: Approximately 10 minutes • Dates:May 5 – May 14, 2010

  5. Executive Summary

  6. Executive Summary: Key Findings

  7. Executive Summary: Recommendations

  8. Survey Population Overview

  9. Business Types • There is not an overabundance of any particular business type in Farmington • More than one quarter (26%) of Town businesses conduct Professional Services Q4. What type of business do you conduct?

  10. Tenure in Farmington • The average number of years that businesses have been in Farmington is: 21.5 years Q1. How long have you been in business in Farmington? Q2. From where did your company move?

  11. Business Revenue Size • Most of the businesses had revenue under $1Million in 2009 Q8. In which of the following categories were your gross revenues in 2009?

  12. Reasons Companies Choose to Locate in Farmington • Companies value the high “Quality of Life” they find in Farmington • With the Town’s many home-based businesses as a contributing factor, a sizable group is located in Farmington because they “Live in Town” Q3. Why did your company choose to locate in Farmington?

  13. 3-5 Year Outlook of Staying in Town • Most businesses report that they are planning on staying in Farmington • Those who are staying are not planning on changing facilities • Half of the companies not staying in Farmington are moving away or retiring Q9. In the next 3 to 5 years, is your business planning on staying in Farmington? Q10a. Is your company planning to purchase, lease or construct new facilities in Town?; Q10b. Why not?

  14. Facility Own vs. Lease • Business are evenly split between owning and leasing their facility Q5. Do you own or lease your facility?

  15. Employees & Future Employment Needs • The average number of people employed by a town business is: • One-third of Farmington businesses project their employment needs to increase in the next few years • Another half expect stable employment Full-Time: 15.4 Part-Time: 6.5 Q6. How many people are employed with your company at this location (in Farmington)? ** Outlier of 5,000FT and 2,000PT removed for this calculation Q7. In the next few years, do you project your employment needs at this location to increase, decrease or stay the same?

  16. Town Evaluation

  17. Town Rating • Most businesses have a very high image of the Town, as three-quarters rate the Town as “Excellent” or “Good” from a business perspective • No business rates the Town as “Poor” Q11. From a business perspective, how would you rate the Town of Farmington’s overall image? Excellent, good, fair or poor?

  18. Best Things About Being Located in Town • Businesses think that the high “Quality of Life” available is the best thing about having their business in Town • Continual focus on this high quality of life will keep businesses satisfied with the Town and will help to attract more businesses to Town • “Location” and “Highway Access” are also highly rated 23% - Quality of Life 18% - Location (general) 9% - Highway Access Q17. What are the BEST things about having your business located in the Town of Farmington?

  19. Worst Things About Being Located in Town • Half of all businesses report that there is “Nothing” negative about being located in Town • For those who mention anything negative, “Traffic” is reported to be the worst thing about having their business located in Town • Communication campaigns to update businesses on road construction and any traffic improvements would be well received 55% - NOTHING 14% - Traffic 4% - Town/Govt. Lack of Support Q18. Are there any negative aspects about having your business located in the Town of Farmington?

  20. Contributions of Town Elements – “A” or “B” Rating • “Accessibility of Town Staff” as a contribution of Town businesses is very highly graded • “Overall Location” and the “Responsiveness of Town Government” are also given highly positive ratings Q12. Please grade the Town on each of the following elements as they contribute to your business…

  21. Contributions of Town Elements – Rated “Don’t Know” • Town Elements which do not contribute to Town businesses include the “Availability of Commercial Real Estate” and the “Impact of Land Use Regulations”, as respondents were not familiar with these elements to give them any grade Q12. Please grade the Town on each of the following elements as they contribute to your business…

  22. Community Services – “A” or “B” Rating • “Public Schools” and “Health Care Facilities” are the most highly rated community services in Town, followed closely by “Financial Institutions” and “Higher Education” Q13. Based on the following community services, please grade Farmington as a place for your company to do business…

  23. Community Services – Rated “Don’t Know” • One-third of businesses do not know about “Business Services” offered by either the EDC or at the Library Q13. Based on the following community services, please grade Farmington as a place for your company to do business…

  24. Town Services Which Make Company More Competitive • Three quarters of businesses report that they are unaware of any services offered by the Town which would help make their company more competitive • Over one-third report that they do not need any programs or services to help their company be more competitive • Another 22% “Don’t Know” of any services that would help 75% Unaware of Programs/Services 35% No Needed Services Q14. What programs or services does the Town of Farmington offer to help make your company more competitive? Q15. What additional programs or services should the Town of Farmington offer to help make your company more competitive?

  25. Services Which Help Company Be More Competitive – Top Mentions Q14. What programs or services does the Town of Farmington offer to help make your company more competitive?

  26. Additional Programs or Services the Town Should Offer – Top Mentions Q15. What additional programs or services should the Town of Farmington offer to help make your company more competitive?

  27. Other Types of Businesses/Services Needed • “Suppliers” are the most requested type of business • Most businesses (63%) either do not know or do not think any other types of businesses or business services are needed in Town Q16. What other types of business or business services does your business need but are not located in town?

  28. Additional Feedback • Businesses with feedback think the Town is doing a good job and should keep doing what they are doing • Most do not have any additional feedback Q19. Is there any other feedback or comments you wish to give to the Town's Economic Development Commission?

  29. Appendix

  30. Location Gives Company Competitive Advantage • More than half (57% A-B) of businesses feel that the “Overall Location Gives My Company a Competitive Advantage” • One quarter feel the overall location does not impact their “Competitive Advantage” at all Q12a. Please grade the Town on each of the following elements as they contribute to your business…Overall location giving my company a competitive advantage

  31. Skilled Workforce • The “Skilled Workforce” available in Farmington is rated with a “B” or a “C” by most businesses • This finding is consistent with State-wide Skilled Workforce concerns • One-third say that the “Skilled Workforce” does not impact their business Q12b. Please grade the Town on each of the following elements as they contribute to your business…Skilled workforce

  32. Availability of Commercial Real Estate • Almost half of businesses do not see the “Availability of Commercial Real Estate” as having any impact on their business • This is likely a reflection of the large number of home-based businesses as well as the general locational stability of Town businesses Q12c. Please grade the Town on each of the following elements as they contribute to your business…Availability of commercial real estate

  33. Impact of Land Use Regulations • “Land Use Regulations” do not impact about half of all businesses • Those who are impacted grade these Regulations as a “B” (19%) • Another 14% grade “Land Use Regulations” as an “F” Q12d. Please grade the Town on each of the following elements as they contribute to your business…Impact of land use regulations on my business

  34. Accessibility of Regulatory Process Items • As with Land Use Regulations, the “Accessibility of the Regulatory Process” does not contribute to four-in-ten businesses Q12e. Please grade the Town on each of the following elements as they contribute to your business…Accessibility of regulatory process items

  35. Accessibility of Town Staff • “Town Staff” are seen as very Accessible, with about half grading “Accessibility” as an “A” Q12f. Please grade the Town on each of the following elements as they contribute to your business…Accessibility of town staff

  36. Responsiveness of Town Government • “Town Government” is seen as very “Responsive”, with more than half awarding an “A” or “B” grade • One-in-three does not feel that the “Responsiveness of Town Government” impacts their business Q12g. Please grade the Town on each of the following elements as they contribute to your business…Responsiveness of town government

  37. Public Schools • The “Public Schools” in Farmington are very highly rated by Town businesses, with more than two-thirds rating them as “A” or “B” Q13a. Based on the following community services, please grade Farmington as a place for your company to do business…Public Schools

  38. Higher Education • As with Public Schools, “Higher Education” is also appreciated by Town businesses Q13b. Based on the following community services, please grade Farmington as a place for your company to do business…Higher Education

  39. Financial Institutions • Two-thirds of Town businesses rate “Financial Institutions” highly Q13c. Based on the following community services, please grade Farmington as a place for your company to do business…Financial Institutions

  40. Business Support Services at the Library • About one-third of businesses do not know about the “Business Support Services at the Library” • Those who do know rate these Services highly, with over one-quarter awarding an “A” grade Q13d. Based on the following community services, please grade Farmington as a place for your company to do business…Business Support Services at the Library

  41. Business Support Services through the EDC • “Business Support Services Provided by the EDC” are unknown by one-third of businesses • Another 40% rate these Services as an “A” or “B” Q13e. Based on the following community services, please grade Farmington as a place for your company to do business…Business Support Services through Economic Development Commission

  42. Health Care Facilities • “Health Care Facilities” are highly graded by about half of Town businesses Q13f. Based on the following community services, please grade Farmington as a place for your company to do business…Health Care Facilities

  43. Survey Population Overview • Based on the sample list provided by the EDC, the following typesof businesses participated in the survey: * Uncategorized businesses include all businesses that have registered with the Town Clerk since 2008 and any business that has registered for an Economic Development event and/or newsletter since 2009

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