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Goin’ Fishin’: The Art and Science of Attracting and Retaining Companies

Goin’ Fishin’: The Art and Science of Attracting and Retaining Companies. Presented by: Dean F. Whittaker. Why Go Fishing in the First Place?. What’s in it for me? What’s in it for the area I represent? Who cares?. What Fishing Gear Do I Need?. Is your community ready?

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Goin’ Fishin’: The Art and Science of Attracting and Retaining Companies

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  1. Goin’ Fishin’: The Art and Science of Attracting and Retaining Companies Presented by: Dean F. Whittaker

  2. Why Go Fishing in the First Place? • What’s in it for me? • What’s in it for the area I represent? • Who cares?

  3. What Fishing Gear Do I Need? • Is your community ready? • What’s missing? • What needs to be done?

  4. What Kind of Fish am I Fishing For? • Selecting targeted industries • Community strengths and challenges

  5. What Fish are Biting? • Industry expansion and relocation trends • The cyclical nature of industries

  6. What Causes Fish to Bite? • Internal changes • Ownership • Leadership • External Changes • Business Environment • Regulatory Environment

  7. When to Go Fishing? • The cyclical nature of business • Timing is everything • Economic development longer term process

  8. Where are the Fish Biting? • New and expanded industry activities • Unique opportunities

  9. Using an Electronic Fish Finder • Monitoring industries and companies • Sources of industry and company information

  10. What Bait to Use? • Incentives • Special situations

  11. Beware of Sharks! • Not all companies are desirable • Telling the good guys from the bad guys

  12. Who Should I Take Fishing? • Outside resources • Economic development allies • Consultants • Internal resources • Bankers • Librarians • Service staff

  13. Once You Have Them on the Hook, You Still Have to Land Them • Say what you will do and do what you say • Keeping commitments • Give (and receive) recognition • Assimilating newcomers

  14. Keeping the Fish You Have Because They will Grow • The importance of taking care of the companies you already have • Most new jobs come from existing companies expanding • Expanding existing companies puts less demand on infrastructure

  15. It Still Takes Luck to Catch Fish • Luck – preparedness meeting opportunity • Patience

  16. The Fishing Report • Internet Resources • CeoExpress.com • Search Engines • Hoovers.com • Google Earth

  17. The Fishing Report (cont.) • Direct Observation • Satellite • Arial Photography • Survey • Focus Group • Canvas Neighborhood • Silent Observer – Reward System • Referral System

  18. Further Discussion

  19. Summary • Why we go fishing • What gear to take • Where to find fish • When go fishing • Who to take along

  20. Thanks for Goin’ Fishin’ Dean Whittaker dwhitt@wainc.com 616-396-4500 www.whittakerassociates.com

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