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Marketing Alberta Communities Regional Economic Development Workshops March 14 to 18, 2005 Module 2 – Responding to an Investment Inquiry. Presented by:. Community Databases. Information is the “Product” of your economic development program. Community Profile

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  1. Marketing Alberta CommunitiesRegional Economic Development WorkshopsMarch 14 to 18, 2005Module 2 – Responding to an Investment Inquiry Presented by:

  2. Community Databases Information is the “Product” of your economic development program. • Community Profile • Demographic & Statistical Data on the community • Labour Force Data • Industrial/Business Directory • Comprehensive listing of manufacturing and ‘exportable’ services businesses • Real Estate Database • Inventory Existing Buildings and Available Sites • Comparative Cost Information • Utility Rates, Taxes, Labour Costs, Rents, etc.

  3. More Information - Faster • 1980 – • 1985 – • 1990 – • 1995 –

  4. New Age for Economic Development • In less than a decade the Internet has fundamentally transformed the practice of economic development. • It has also fundamentally altered the relationship between an economic development officer and his/her client (and their advisors). • Client already has access to most of the information the EDO is used to providing • First contact is now a really serious inquiry involving “high level” data. • “Like skipping the 1st and 2nd dates completely and going directly to the 3rd date.”

  5. New Age for Economic Development • Corporate Use of the Internet • As early as 2002 Dean Whittaker of Whittaker & Associates reported that 84% of U.S. companies routinely go to the Internet to gather information & short list communities in their site searches. • Today that would be in excess of 95%

  6. New Age for Economic Development • Realtor/Consultant Use of the Internet • Philip O’Keefe reported in 2003 • 94% of realtors & consultants use the Internet as their primary source of information during site selection. • Companies value the privacy of the Internet for site selection. • 75% of those surveyed called for economic development agencies to upgrade their sites for this purpose.

  7. New Age for Economic Development • Community Web-Sites • In a 2001 study my firm found that 92% of communities in Ontario had web-sites with dedicated sections for economic development • What’s more each community in the survey had plans to expand their site with more information and new features.

  8. Ontario Municipal Web-SitesContents - Current & Planned Additions - May 2001

  9. Award Winning Web-Sites • IEDC Award - www.okcedis.com • Other US Sites referenced by Don Schjeldahl - Austin Company in presentation at EDAC 04 - www.edac.ca • choosewashington.com • imaps.indygov.org/ed/index.asp • www.oregonprospector.com • www.sandiegobusiness.org • EDAC Marketing Awards • 200K-600K - www.city.woodstock.on.ca • 601K> - www.region.durham.on.ca • EDCO Marketing Awards • Large Community - www.city.woodstock.on.ca • Small Community - www.frontenaccfdc.com

  10. What Companies Need from Your Web-Site • Most Important • Buildings and/or Sites • Local info they can’t get anywhere else • Also important – but available elsewhere • Workforce Information • Cost of Doing Business • Demographics/Statistics

  11. IEDC Template for Community Profile • Originally developed by a working group of American and Canadian economic developers and site selectors and introduced in May 2000 as a North American standard. • 1200 elements organized into 25 tables (Excel) • Adopted by “Invest in Canada” – “Alberta First” – “Invest BC” plus a number of communities. • (Ontario Investment Service provides similar data in their own format – as well as real-estate listings.) • Many find it too complex and cumbersome.

  12. Review of IEDC Template • Prepared by MMK Consulting for Federal Gov’t • Conclusions • Community profile data is most used when preparing initial lists of possible sites. • Relationship-based approach to marketing is critical so ensure your web-site development is integrated into your overall strategy. • Locally generated data (land & buildings, labour, taxation, competitive environment) is most important. • Don’t break your back converting to US formats – resources are better directed to broadening the scope of your data.

  13. Minimum Requirements • Make sure your data is current and comparable • With citations from recognized sources • YOU aren’t a recognized source • Make sure companies can “Google” your web-site. • Make sure your profile on Alberta First is complete and up-to-date.

  14. Best Practices in Web-Sites • Observations from MMK Report • Intuitive & Easy to Find • Data clearly labeled and easy to find • One Stop Shopping • All data in one location • External Links • Links to relevant sources allows client to validate data and obtain expanded information • Currency & Relevance • Site selectors say data more than 1 year old is grounds for elimination • Real Estate Data • Industrial & commercial real estate data • GIS systems now becoming the norm • Need for Economic Development Office to supplement

  15. New Age in Economic Development • “Overnight is no longer good enough” • Richard Sheehy, Industrial Design Corp. • Communities must become more sophisticated in: • gathering/organizing community data • responding immediately to specific questions • New Gold Standard in Investor Servicing • To be able to email a response to a client’s question - while still on the phone with them.

  16. Importance of Investor Servicing • Reputation is a Priceless Asset • Ingredients • Speed, Responsiveness, Relevance • Dedicated Officer handling all aspects of project • Make it painless for the Investor • identify and remove barriers • Investor Servicing doesn’t stop on arrival

  17. Real Live Examples • From the Files of AED

  18. For further information contact us at : 182 Willow Ridge Road, RR #3 Ilderton, ON N0M 2A0 Tel: (519) 666-3668 Fax: (519) 666-3670 Email: mfischer@execulink.com

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