Economic Development Committee Ideas & Considerations

1. Economic Development CommitteeIdeas & Considerations Prepared forEconomic Development Committee October 6, 2016 Barry A. Pease, Member, BoS

2. DISCLAIMER Four Core Tenants of Optimal Outcomes • Conflict is good • Sacred Cows are yummy • This is about the town, not someone’s ego. • Assume the best intentions This presentation is about progress, not political correctness. Barry A. Pease Economic Development Committee Considerations for Groton’s Future

3. Most Common Process Error Creating a solution before defining the problem • Don’t ignore the advice your parents gave you about jumping to conclusions. • Follow the steps properly – the process never fails, people fail to follow the process. Barry A. Pease Economic Development Committee Considerations for Groton’s Future

4. Proven Team Process • Define the problem • Measure the environment • Analyze the data • Brainstorm solutions • Engage the influencers • Implement effective changes • Verify results • Repeat Barry A. Pease Economic Development Committee Considerations for Groton’s Future

5. Recommendation • Accept the Problem: Groton is not perceived as an attractive place for relocating or starting a diversity of for-profit businesses. • Why do Non-profits love us so much, though? • Determine Groton’s Business Strategy • Business Climate (PESTEL); T.W.O.S; Generic Strategies Matrix; Five Forces; Core Competency; Diversification • What is Groton’s place in the Value System? • What is Groton’s role in a businesses Value Chain? Barry A. Pease Economic Development Committee Considerations for Groton’s Future

6. Must-DOs • Measure the competition • Measure the successes • Measure the failures • Measure the difficulties • Measure the demographics/psychographics • Measure the future trends Barry A. Pease Economic Development Committee Considerations for Groton’s Future 6

7. Recommendation, continued • Interviews/Data Collection: • What makes Groton less attractive? • What problems do Groton Board of Trade members experience? • Why is Groton a pass-through town? • Why do people do business in Devens and Ayer and Pepperell and Shirley but not Groton? • Why do businesses want to leave Mill Run? • Why is Groton resting on luck (Gibbet Hill, Groton Inn, Indian Hill) instead of a plan of action? • If the people who are forging successful new projects here are Grotonians – how long can this last? Barry A. Pease Economic Development Committee Considerations for Groton’s Future

8. Methodology • Simple Charge = Committee Mission • First Deliverable • “D” – Define Groton • Second deliverable • Problem Statement: Groton’s challenges in attracting business • Third Deliverable • Present ideas for solving problem statement. Barry A. Pease Economic Development Committee Considerations for Groton’s Future 8

9. Analysis, Presentation,Implementation • After all research & data collection • Analyze to figure out the best fruit • Then brainstorm solutions/ideas for a framework of successful Economic Development parternship. • Present these ideas for BoS, Planning Board, GBOT, Fincom, etc. etc. buy-in • Then, and only then, can we have actual goals. Barry A. Pease Economic Development Committee Considerations for Groton’s Future 9

10. PESTEL • Political • At a local level, this group has the opportunity to change this one area – very rare! • Economic • Macro/Micro, Growth, Disposable income, Inflation • Social • Socio-cultural – what drives ‘customers’, talent-pool • Technological • Environmental – raw materials, conservation, energy costs • Legal – permits, health & safety, EEOC, ADA, etc Barry A. Pease Economic Development Committee Considerations for Groton’s Future 10

11. Gaps in Current Documents • GEDC SWOT Analysis – not focused on business perspective • Should be restructured into a TOWS Matrix – focused on external environment to make strategic choices • SWOT can be used for a marketing analysis after a specific project is defined, but this is strategy. • Core weakness (internal) missing – distance from major highway; NIMBY Culture, conservation land. • Core Threats (external) missing – Surrounding towns!!! • Opportunities should not be internal Groton – opportunities should be related to demographic shifts or cultural shifts or Mass legislature or environmental trends. – Use PESTEL to drive this one. • Strengths missing key element: public safety. Barry A. Pease Economic Development Committee Considerations for Groton’s Future 11

12. Gaps in Current Documents • Master Plan – • Old, outdated, not relevant • Insular, Town Hall Focused. • 2016 Economic Development Priorities • Answers before the problem is agreed upon. • Ideas are not validated/vetted by applicable data. • What are these priorities solving? • Why are these priorities? – can they be turned into S.M.A.R.T Goals? Barry A. Pease Economic Development Committee Considerations for Groton’s Future 12

13. Groton is Awesome • People move here from elsewhere!! • People stay here because they love our town!!! • Groton is adaptive and will accept change!!!! • Groton has Talent that will help, all we need to do is ask… Barry A. Pease Economic Development Committee Considerations for Groton’s Future 13

14. Change is inevitable. Let’s be agents of change instead of victims. All content reinterpreted for our needs from the best practices of organizational leadership. Economic Development CommitteeProject Plan Guidelines Barry A. Pease, Member, BoS 12/19/2019 14