Strategic Positioning, Target Industry Assessment & …€¢ Strategic/Business Plans • Market...
Transcript of Strategic Positioning, Target Industry Assessment & …€¢ Strategic/Business Plans • Market...
‹#› Voltedge, Inc. dba Ady Advantage | 613 Williamson Street, Suite 201 | Madison, WI 53703 | 608.663.9218 | AdyAdvantage.com | © 2015 Ady Advantage
STRATEGY MATTERS
Strategic Positioning, Target Industry Assessment & Action Plan
January 8, 2015
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Janet Ady President & CEO
Brandon Rutz Senior Director of Research
Bennett Syverson Vice President & Senior
Creative Director
2 2 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Today’s Agenda
§ A Little Bit About Us; A Little Bit About You
§ Setting the Stage: Megatrends in Economic Development
§ Research Findings to Date and Discussion
§ Next Steps
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Indian River County Chamber of Commerce
.Advantag~
3 3 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
About Ady Advantage
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CORPORATE SERVICES
Business Development Strategy
• Strategic/Business Plans • Market Growth Strategies • Site Selection/Location Strategy • Customer/Competitor Research • Supply Chain Analysis
Economic Strategy
• Strategic Planning • Target Industry Analysis • Labor Force Analysis • Competitiveness Assessment • Reverse Site Selection • Revers Supply Chain Analysis
EDO SERVICES
.Advantag~
Market Positioning
• Marketing Plan • Branding
Market Positioning
• Business Case Development • Marketing Plans • Branding • Toolbox Development
Implementation
• Websites • Marketing Collateral
& Campaigns
Implementation
• Websites • Marketing Collateral
& Campaigns
~~~ Indian River County
Chamber of Commerce
• BRE & Recruitment Program • Exhibits and Multimedia • Wayfaring
4 4 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Introductions
Please introduce yourself, including your name and organization.
Also, in a few words, please share the one thing
you would like to get out of today’s meeting.
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Indian River County Chamber of Commerce
.Advantag~
5 5 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Economic Development Megatrends 2015
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~~~ Indian River County
Chamber of Commerce
.Advantag~
6 6 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #1: Elimination of Risk
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What’s driving it: • Avoidance of “surprises”
• Competitiveness of economic development field
Indian River County Chamber of Commerce
.Advantag~
7 7 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #1: Elimination of Risk
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Examples of how it plays out: • High level of interest in availability and productivity of
people at various skill levels
• Certified Sites programs and other forms of “readiness”
• Interest in state and county’s fiscal position and stability of regulatory/policy platforms
• Interest in long-term cost and availability of water, electricity, and natural gas
Indian River County Chamber of Commerce
.Advantag~
8 8 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
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~ ~ ~ Indian River County
Chamber of Commerce
Economic Development Building Blocks
• Business Retention and Expansion • Talent Retention and Recruitment • Business Recruitment
• Value Proposition/Positioning • Targeting • Brand • Marketing
• Infrastructure • Workforce • Quality of Life • Site Preparation
• Budget/Funding • Organizational Structure • ED Strategic Plan • Incentives Strategy • Mission & Vision
©2014 Ady Voltedge
.Advantag~
9 9 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Florida on Fiscal Position
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~~~ Indian River County
Chamber of Commerce
R I G OF ST T S Y FISCA CO DI O ( ISC Y R 01
6-15
l 25
26 5
36- s
5
.Advantag~
10 10 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #2: Increasing Role of Regions
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What’s driving it: • Availability of data
• Better reflection of labor pools than either state or local jurisdictions
• Close enough to know the local operating environment, yet distant enough to have a single point of contact.
Indian River County Chamber of Commerce
.Advantag~
11 11 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #2: Increasing Role of Regions
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Examples of how it plays out: • Some searches now start at the regional level
• Have to wave the flag for the whole state
• Local economic development organizations need to treat the region and the state as “customers”
• Always think in terms of the pooled assets that regions afford local groups
• Work very hard to make sure stakeholders are on board – dissonance on this point can break a deal
• The locals will always be at the table at the end of the day
Indian River County Chamber of Commerce
.Advantag~
12 12 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
The Local-Regional-State Ecosystem
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©2015 Ady Voltedge
Business Recruitment
Business Retention &
Expansion
.Advantag~
Business Start Up
STATE
~~~ Indian River County
Chamber of Commerce
REGIONAL LOCAL
13 13 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #3: Competitiveness Among EDOs
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What’s driving it: • The maturation of the economic development field
• The increased sophistication of relocating/expanding companies, especially as incentives have proliferated
• A very limited pool of relocating and expanding companies
Indian River County Chamber of Commerce
.Advantag~
14 14 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Megatrend #3: Competitiveness Among EDOs
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Examples of how it plays out: • Increased emphasis on business, retention, and expansion
programs
• Your business, retention, and expansion program is your competitor’s business recruitment program
• How you treat your current businesses is the best indicator of how you’ll treat my client
• Knowing your value proposition is key
• Branding to communicate your value proposition sets you apart
• Absolute synchronization among stakeholders and local, regional and state players is essential
• More high-profile, direct-by-company searches
• Community image and reputation matter
• Incentives policies should align with positioning, branding, etc.
Indian River County Chamber of Commerce
.Advantag~
15 15 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Value Proposition/Positioning
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Go gle
• Advantag~
great place to live work and play
Web Images News Maps Shopping More• Search tools
Best Cities to Live , Work and Play-Kiplinger www.kiplinger.com/ .. ./T006-COOO-S002-best-cities-to-live-work-and-pla ... • Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then ...
IPDFJ City of Ocoee. A great place to live, work and play. www.ocoee.org/Departments/HR/docs/OcoeeHRBrochure.pdf • Ocoee Our employees like to call Ocoee the ·Employer of Choice because of its philosophy
behind taking care of its people. It's more than just salaries and benefits, ...
[PDF) A great place to live, work, and play - P83 www.p83az.com/uploadedFiles/EcoDev _ Oua lity _ of_Life_ online.pdf • peoriaed.com I 623. 773. 7735. Peoria . Lifestyle. Peoria. Lifestyle. A great place to live, work, and play. Living and Working in Peoria• Arts & Culture• Sports and ...
Best U.S. Cities to Live , Work and Play - Lifehacker I ifeh a cker. com/3 96714 est-us-cities-to- live-work-and-play • Life hacker Jun 22. 2008 - Best Cities to Live, Work and Play [Yahoo finance] .... It's a strangely schizophrenic place, and anyone who thinks they understand it based on ...
~~~ Indian River County
Chamber of Commerce
16 16 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Competitive Landscape
Voltedge, Inc. dba Ady Voltedge | 613 Williamson St, Suite 201 | Madison WI 53703 | 608.663.9218 | AdyVoltedge.com
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17 17 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
So what do these megatrends mean for Indian River County and the current project?
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Indian River County Chamber of Commerce
.Advantag~
18 18 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Project Overview & Goals
Project Overview The Indian River County Strategic Positioning, Target Industry Assessment & Action Plan began in late July of 2014 with a site visit to Indian River County, which included 12 property visits, input from over 75 stakeholders, 47 business interviews, and participation from over 120 area organizations. Ady Advantage also completed extensive secondary research and compiled it into a report to develop a strategic positioning for the county, including an assessment of the current Indian River County target industries. The primary and secondary research focused on an economic region that includes Indian River County (IRC) and areas within a 45-minute drive time from IRC, including St. Lucie County and the south half of Brevard County (Melbourne South). All of this information will be synthesized into an action plan that will determine how the county should position its economic assets and how to address key areas in need of change to ensure long-term economic success.
Project Goals • Gain an objective understanding of the county’s economic assets…
• … in order to develop a strong positioning for the county…
• … so that it can effectively market the region.
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To access the full report (to-date) please refer to the following links: • Indian River County website link:
http://www.irccdd.com/Planning_Division/EDPAAP/Report4.pdf • Indian River County Chamber of Commerce website link:
http://www.indianriverchamber.com/userfiles/file/Indian%20River%20Report%2012-12-14.pdf
Indian River County Chamber of Commerce
Indian River County
Orchid. Sebastian. Vero Beach
.Advantag~
19 19 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Focus of Indian River County Positioning Project
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~ ~ ~ Indian River County
Chamber of Commerce
• Business Retention and Expansion • Talent Retention and Recruitment • Business Recruitment
• Value Proposition/Positioning • Targeting • Brand • Marketing
• Infrastructure • Workforce • Quality of Life • Site Preparation
• Budget/Funding • Organizational Structure • ED Strategic Plan • Incentives Strategy • Mission & Vision
©2014 Ady Voltedge
.Advantag~
20 20 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Project Timeline
Phase/Task Description Due Date
PHASE 1
TASK 1 Convene Community Stakeholders Summit July 18, 2014
TASK 2 Conduct Quantitative/ Qualitative “Place” Perception Survey (How people see/perceive IRC) September 12, 2014
TASK 3 Conduct Competitive Positioning Assessment (How IRC Compares to Competing Communities) October 17, 2014
TASK 4 Brief Assessment of County’s Target Industries (What Companies the County is or should be pursuing) November 14, 2014
TASK 5 Prepare Draft Economic Development Positioning Analysis Report December 12, 2014
TASK 6 Conduct Community Stakeholders Summit #2 January 8, 2015
TASK 7 Prepare Final Economic Development Positioning Analysis Report & Action Plan February 9, 2015
TASK 8 Present Final Economic Development Positioning Analysis Report & Action Plan (BCC Meeting #1) March 3, 2015
TASK 9 OPTION – Present Revised Final Economic Development Positioning Analysis Report & Action Plan (Optional BCC Meeting #2)
Optional – Date TBD
PHASE 2
TASK 1 Identify Current Marketing & Branding Efforts (How IRC is presented to others) Date TBD
PHASE 3 TBD
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Indian River County Chamber of Commerce
.Advantag~
21 21 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
The Business Environment
Labor & Talent
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Availability of Low Skilled Labor ¢
Availability of Semi Skilled/Skilled Labor -
Availability of Professional/Technical Labor -
Training Programs ★★
Education ★★
★ Marginally Competitive - Marginally Disadvantaged
★★ Competitive ¢ Neutral -- Disadvantaged
★★★ Very Competitive --- Significantly Disadvantaged
~~~ Indian River County
Chamber of Commerce
.Advantag~
22 22 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
The Business Environment
Infrastructure
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Highway ★
Rail -
Air ¢
Port ★★
Utilities ¢
★ Marginally Competitive - Marginally Disadvantaged
★★ Competitive ¢ Neutral -- Disadvantaged
★★★ Very Competitive --- Significantly Disadvantaged
~~~ Indian River County
Chamber of Commerce
.Advantag~
23 23 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
The Business Environment
Regulation & Incentives
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State Regulatory & Permitting - -
Local Regulatory & Permitting -
State Incentives ★★
Local Incentives ★
★ Marginally Competitive - Marginally Disadvantaged
★★ Competitive ¢ Neutral -- Disadvantaged
★★★ Very Competitive --- Significantly Disadvantaged
~~~ Indian River County
Chamber of Commerce
.Advantag~
24 24 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Quality of Life
§ Modern, “It’s better than Miami.”
§ Good dining options
§ Philanthropy
§ Family-oriented
§ Easy public access to beach
§ Outdoor activities
§ Low crime
§ Cultural Amenities
o Riverside Theatre
o Theatre Guild
o Art Center
§ Good cultural amenities due to philanthropic donations for museum and theater
§ Good medical facilities
o Hearing
o Heart
o Cancer
o Interventional (new)
o Bariatric Center for Excellence (new)
o Orthopedic (growth)
o Family practice (growth)
§ Low traffic congestion
§ High-speed internet – good
§ Tourism
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Indian River County Chamber of Commerce
.Advantag~
25 25 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Sites & Buildings Assessment
§ Available sites and buildings are the “product”.
§ Properties should be listed with complete information.
§ “Readiness” is a national theme.
§ Region’s sites and buildings varied in “readiness”.
§ Must have’s for property listing sheets:
• Price
• Acreage
• Square feet (if applicable)
• Buy or lease
• Contact information
• Location
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Indian River County Chamber of Commerce
.Advantag~
26 26 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Site Preparation
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Indian River County Chamber of Commerce
.Advantag~
27 27 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Target Industry Assessment
Indian River County’s current target industries: § Clean Energy
§ Life Sciences
§ Information Technology
§ Aviation/Aerospace
§ Financial/Professional Services
§ Manufacturing/Warehouse/Distribution
§ Emerging Technologies
§ Arts, Entertainment, and Recreation
§ Post Secondary Public and Private Educational Institutions
§ Other Clean Light Industries
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Indian River County Chamber of Commerce
.Advantag~
28 28 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Target Industry Recommendations
Recommended targets: § Manufacturing
o Aviation/Aerospace
§ Life Sciences/Research
§ Regional Warehousing/Distribution
Observations: § Business, retention, and expansion is important, if not more so,
than recruitment.
§ Positioning statements should be developed for each.
§ Focus of active vs. passive marketing.
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Indian River County Chamber of Commerce
.Advantag~
29 29 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Core Economic Assets
General Business Costs Asset Map
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Indian River County Competitiveness
Imp
ort
anc
e to
Bus
ine
ss D
ec
isio
n Gas Cost •
V V
.Advantag~
Low-skilled Labor Cost ig skilled Labor Cost
State B siness Tax
Sa les Tax
Payroll Costs
Cost of Living •
Indian River County Chamber of Commerce
30 30 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Core Economic Assets
General Conditions Asset Map
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!
!
! !
!
Fiber
Access to Pop. Reg. Enviro
Training Programs
Sites & Buildings
Population Growth
K-12 Education
Hwy Access Rail Access
Natural Disaster
Risk
VoTech Edu.
Diversity/Quality of Higher Ed.
Availability of Labor
Water Gas
Labor Force Growth
Air Access
Higher Ed. Student Pipeline
Indian River County Competitiveness
Imp
ort
anc
e to
Bus
ine
ss D
ec
isio
n
~~~ Indian River County
Chamber of Commerce
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31 31 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Positioning Statement
Indian River County is an idyllic location known for its way of life. Those who visit and those who live here are familiar with a location that is safe, modern and loaded with cultural, educational and technological amenities. It's also a cost-competitive place to grow or expand your business by offering:
• access to assets including interstate highways and multimodal transportation,
• advanced industries from aviation/aerospace to aquaculture,
• world-renowned recreation,
• research, emerging tech, life sciences and sports health,
in one of the most desirable climates in the country, for recreation and for business.
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Indian River County Chamber of Commerce
.Advantag~
32 32 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Positioning Statement Elements
Audience: For those who enjoy this idyllic location year round,
Reference: Indian River County, Florida offers the best of both worlds,
What’s Unique: a desirable location for business and pleasure,
Benefit: a balance that helps build your business in the sun.
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Indian River County Chamber of Commerce
.Advantag~
33 33 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Preliminary Recommendations
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1. Complete a detailed marketing plan … some items might include:
§ Create a stand-alone economic development website
§ Effectively communicate the County’s advantages to not only external audiences but also internal audiences and stakeholders
§ Include a brand audit
§ Refocus on suggested target industries
2. Continue to work/partner with regional groups and organizations … some regional items might include:
§ Conduct a target industry analysis
§ Create a regional economic development website
§ Explore further export opportunities
3. Continue to build relationships with developers and land/building owners
4. Explore opportunities for the County, EDC, and/or communities to agree on protocols for presenting available properties to own sites and/or buildings
Indian River County Chamber of Commerce
.Advantag~
34 34 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Open Discussions
§ Are there any surprises in the findings; why?
§ Is there anything you believe is missing?
§ How would you increase awareness of Indian River County’s positioning or key differentiating attributes among current businesses? Among potential future businesses?
§ Prioritize assets/areas for improvement; why?
§ Based on the list of prioritized areas of improvement, what might be the best actionable way to improve each item?
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Indian River County Chamber of Commerce
.Advantag~
35 35 Client Name - Presentation Title | Presentation Date Indian River County | Strategic Positioning, Target Industry Assessment & Action Plan | © 2015 Ady Advantage | January 8, 2015
Next Steps
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Phase/Task Description Due Date
PHASE 1
TASK 1 Convene Community Stakeholders Summit July 18, 2014
TASK 2 Conduct Quantitative/ Qualitative “Place” Perception Survey (How people see/perceive IRC) September 12, 2014
TASK 3 Conduct Competitive Positioning Assessment (How IRC Compares to Competing Communities) October 17, 2014
TASK 4 Brief Assessment of County’s Target Industries (What Companies the County is or should be pursuing) November 14, 2014
TASK 5 Prepare Draft Economic Development Positioning Analysis Report December 12, 2014
TASK 6 Conduct Community Stakeholders Summit #2 January 8, 2015
TASK 7 Prepare Final Economic Development Positioning Analysis Report & Action Plan February 9, 2015
TASK 8 Present Final Economic Development Positioning Analysis Report & Action Plan (BCC Meeting #1) March 3, 2015
TASK 9 OPTION – Present Revised Final Economic Development Positioning Analysis Report & Action Plan (Optional BCC Meeting #2)
Optional – Date TBD
PHASE 2
TASK 1 Identify Current Marketing & Branding Efforts (How IRC is presented to others) Date TBD
PHASE 3 TBD
Indian River County Chamber of Commerce
.Advantag~
‹#› Voltedge, Inc. dba Ady Advantage | 613 Williamson Street, Suite 201 | Madison, WI 53703 | 608.663.9218 | AdyAdvantage.com | © 2015 Ady Advantage
STRATEGY MATTERS
Thank You
Janet Ady President & CEO
608.663.9218
www.linkedin.com/in/janetady/
Newsletter at www.adyadvantage.com
To access the full report (to-date) please refer to the following links: • Indian River County website link:
http://www.irccdd.com/Planning_Division/EDPAAP/Report4.pdf • Indian River County Chamber of Commerce website link:
http://www.indianriverchamber.com/userfiles/file/Indian%20River%20Report%2012-12-14.pdf
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I ,;: Indian River County 8 ~ Strategic Positioning, Target Industry Assessment & Action Pion
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Orchid, Sebastion, Vefo Beoch
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