How the City of Terrace makes a bigger economic ... · development officer and limited budget, the...
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How the City of Terrace makes a bigger economic development impact CASE STUDY https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development https://www.terrace.ca/business-development/economic-development EXPLORE WEBSITE City of Terrace 12,594 1 Business Attraction Business Retention & Expansion COVID-19: PREPARING FOR THE ECONOMIC RECOVERY CLIENT: POPULATION: ECDEV STAFF: PRIORITIES: WEBSITE:
Transcript of How the City of Terrace makes a bigger economic ... · development officer and limited budget, the...
How the City of Terrace makes a bigger economic development impact
CASE STUDY
https://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-development
EXPLORE WEBSITE
City of Terrace
12,594
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Business AttractionBusiness Retention & Expansion
COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
CLIENT:
POPULATION:
ECDEV STAFF:
PRIORITIES:
WEBSITE:
SOLUTIONCHALLENGETerrace is a small city with a big economic development program. The City’s primary focus is on business and investment attraction as well as supporting local business retention and expansion. With just one economic development officer and limited budget, the City enlisted Localintel as its online economic development assistant to bolster its capacity.
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
https://www.edsuite.com/https://www.edsuite.com/https://www.edsuite.com/https://www.edsuite.com/
Localintel helps the City achieve its economic development goals in 3 ways:
An Investment Portal
Improving engagement with the City’s website
Investment Brochure
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www.ecdev.org
GROWTH AND OPPORTUNITIES
The City promotes the location of investment ready growth opportunities to site selectors, property developers and many other types of businesses.
Name of Localintel tool: Uncover Local Opportunities
COMMUNITY PROFILE
The City provides businesses, investors and site selectors with valuable demographic indicators as well as information on taxes, incentives, cost of labor and more.
Name of Localintel tool: Review the Business Climate
INFRASTRUCTURE AVAILABILITY
The City provides a dynamic map that identifies the local infrastructure, and utilities, that influence the location-based investment decisions for all types of industry.
Name of Localintel tool: Locate Infrastructure / Utilities
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
Element #1 – Investment Portal
The City created an Investment Portal that includes 14 of Localintel’s award-winning online economic development tools. Each tool provides valuable local information that site selectors, investors, franchises and other types of businesses need to know in order to make informed decisions.
https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/
https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/
https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/
https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/https://terrace.ecdev.org/
EXPLORE INVESTMENT PORTAL
www.ecdev.org
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
TRANSPORTATION ADVANTAGES
The City is able to highlight interconnectivity between all types of transportation infrastructure, including exposure and accessibility of specific locations.
Name of Localintel tool: Identify Transportation
WORKFORCE STRENGTHS
The City makes it easier for business and site selectors to analyze the size and location of the workforce by educational attainment, occupation and industry of employment.
Name of Localintel tool: Evaluate the Workforce
ENVIRONMENTAL CONDITIONS
The City specifies where environmental conditions apply that could potentially impact new development and certain types of business operations.
Name of Localintel tool: Examine the Environment
www.ecdev.org
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
INDUSTRY RESEARCH
Businesses can research their customers, competitors and trends across 400 different types of industries.
Name of Localintel tool: Research Your CustomersAnalyze Your CompetitionDiscover Industry Trends
PROPERTY SEARCH
Businesses can search for commercial properties that are currently available for lease or purchase in the City.
Name of Localintel tool: Search Available Properties
QUALITY OF LIFE ADVANTAGES
Site selectors, property developers and businesses can assess the location of schools, health services, recreation centers and other community facilities.
Name of Localintel tool: Identify Community Facilities
www.ecdev.org
ECONOMIC INDICATORS LAND USE MAP DEVELOPMENT INDICATORS
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
Element #2 – City Website
Localintel’s tools are incorporated into the economic development pages on the City’s main website.
https://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-developmenthttps://www.terrace.ca/business-development/economic-development
EXPLORE https://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoninghttps://www.terrace.ca/business-development/maps-zoning
EXPLORE https://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investmenthttps://www.terrace.ca/business-development/economic-development/investment
EXPLORE
www.ecdev.org
Element #3 – Investment Brochure
Localintel’s marketing team designed an Investment Brochure to help the City promote Terrace’s strengths and generate new leads. The brochure is a valuable asset during physical site visits, conferences and in person meetings as it ties directly into the valuable information that is included in the City's Investment Portal.
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
www.ecdev.org
OUTCOMESThis case study shows how the City of Terrace has reused a single set of Localintel tools in 3 different ways to maximize their exposure, value and impact. In addition to creating a valuable set of business attraction assets, Localintel’s tools are being heavily used by local businesses to help with location and expansion decisions. Furthermore, City staff and partner organizations like Community Futures use the tools to track key indicators and assess loan applications.
QUOTE“With the help of Localintel we have created a comprehensive platform to promote the City’s strengths, engage businesses and help us start discussions.”
Deklan Corstanje, Economic Development Manager, City of Terrace
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COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
www.ecdev.org
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Through its collaboration with Localintel, the City of Terrace has created a valuable online asset that businesses and economic development staff can turn to during the recovery from COVID-19.
Now is a good time to start planning for the recovery phase of the crisis. Here we identify 3 strategies that will help your economy recover.
COVID-19: PREPARING FOR THE RECOVERY
When restrictions associated with COVID-19 begin to ease and the economic recovery starts, businesses will need to rehire, restock and promote themselves. This takes money which, for most businesses, means applying for loans. Businesses can improve the quality of their loan applications by undertaking business planning and local market research using reliable data.
Helping existing businesses reopen and recover
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The economic downturn from 2007 to 2009 was followed by a dramatic upswing in entrepreneurship, as laid-off workers pursued their entrepreneurial dreams. Entrepreneurs are more likely to succeed if they undertake thorough business planning and have access to local market research and adequate capital.
Helping entrepreneurs start and grow their business
When economic developers are ready to start shifting their focus from crisis response to recovery, competition between locations will resume and quickly ramp up. Start getting ready by making improvements to your organization’s number one marketing tool, which is your website.
Resuming and ramping up business attraction and lead generation activities
COVID-19: PREPARING FOR THE ECONOMIC RECOVERY
www.ecdev.org
ABOUT LOCALINTELLocalintel is your online economic development assistant. Adding our flexible suite of tools to your website is the easiest, most affordable way to promote local advantages, support businesses and drive economic development.
Our clients range from small rural communities like the Town of Bashaw (population 841) to economic development teams in Canada’s largest cities including Invest Ottawa, Winnipeg Economic Development, Edmonton Global and Calgary Economic Development.
I hope you have found this article useful. Please stay healthy and get in touch to find out how we can put solutions like these to work for you.
www.ecdev.org
403.554.0982
Dave Parsell, [email protected]
https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/https://www.linkedin.com/in/dave-parsell-10b2481b/
