1 / 14

Economic Development’s Three-Legged Stool

Economic Development’s Three-Legged Stool. Susan Liberty Vice President, Infrastructure & Economic Development sliberty@mwcllc.com. Three-Legged Stool – Intersection of Communities of Interest. Political (Elected Officials )

harris
Download Presentation

Economic Development’s Three-Legged Stool

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economic Development’s Three-Legged Stool Susan Liberty Vice President, Infrastructure & Economic Development sliberty@mwcllc.com

  2. Three-Legged Stool – Intersection of Communities of Interest Political (Elected Officials) • Identify legislative needs and provide leadership for legislative initiatives • Build citizen and government consensus Economic Development Organizations • Establishes long range plan that anticipates political and economic changes Consultants • Research and identify potential funding sources • Leverage relationships with government entities to bring about buy-in

  3. Three-Legged Stool – Intersection of Communities of Interest Political (Elected Officials) • Need to build grass roots support for a project • Navigate through multiple governmental entities • Underestimated importance – all projects are political decisions • Leadership for legislative initiatives

  4. Three-Legged Stool – Intersection of Communities of Interest Economic Development Organizations • Long-range plan anticipating economic and political changes • Recognition of changing political scene • Determine staffing capabilities • Grassroots strategy for projects • Monitor community image and infrastructure

  5. Continental Corporation • Announced December 2009 • Company background: Automotive Manufacturing • Type of project: Consolidation of manufacturing plant from S.C. to Newport News, Virginia • Expansion of existing facility • Employment: Retain 576 & add 250 net new jobs • Total investment: $159M • Incentive Package: $13 M

  6. Harris Teeter Corporation • Announced: January 2009 • Company background: Food Chain doing business in N.C., VA, MD, D.C. & Delaware • Type of project: Distribution Center in King George County, VA • Land purchase – 100 acres • Employment: 350 • Total investment: $101M • Incentive package: $3M

  7. Hilton Hotel Corporation • Announced February 2009 • Company background: Worldwide owner and operator of hotels • Type of project: Headquarters Move from Beverly Hills, California • Lease of 125,000 square feet office space • Employment: 350/425 net new jobs to Virginia • Total Investment: $17M • Incentive package $6M

  8. Three-Legged Stool – Intersection of Communities of Interest Consultants • Leverage Local expertise and relationships • Identify incentive trends & optimize for for clients • Conduct market analysis • Generate leads and take projects to community • Negotiate with policy makers to create or enhance legislation

  9. Maersk Sealand Shipping Container Terminal • Announced: 2001 • Company background: Largest shipping container company in the world • Type of project: Expansion - building terminal at deepest port on the East Coast • Land purchase - 616 acres • Employment: 175 jobs • Total investment $500M

  10. Three-Legged Stool – Maersk Sealand • Consultant contacted Economic Development organizations to develop action plan • Consultant identified key political officials to facilitate meetings • Directed legislative funding initiatives on federal, state and local levels • Consultant laid out strategic plan with company officials for securing incentives • Multi-year negotiations for funding for road improvements, rail service, federal funding for dredging of Elizabeth River

  11. Potential project pitfalls – lessons learned • Let the consultants give you political cover – economic development organizations should not be put into the position of requesting appropriations or tax relief • Economic development officials need to scope the opportunity appropriately (determine staff resources) • Changes in Legislatures, Governing bodies, and Administrations need to be anticipated

  12. McGuireWoods Consulting • Public affairs approach to economic development projects • Establish long-term relationships, not short-term gains • Largest firm in Virginia, offices in North Carolina, Georgia, Washington, DC, Illinois, Romania • Effective national coverage

  13. THE END Business Expansion Services | Constituency Development | Corporate Social Responsibility & Sustainability | Economic Development | Federal Budgeting and Contracting Advice | Federal Legislative Assistance | Grassroots Contact Program | Issue Advocacy | PAC Consulting | Public Infrastructure Finance | Public-Private Partnerships | Referendum Campaigns | State Government Relations ATLANTA • BUCHAREST • CHARLOTTE • CHICAGO • SPRINGFIELD • NORFOLK • RALEIGH • RICHMOND • TYSONS CORNER • WASHINGTON, D.C. . Susan Liberty, Vice President Business Expansion Services Sliberty@mwcllc.com www.mcguirewoodsconsulting.com

More Related