Strategic Positioning, Target Industry Assessment & Action Plan
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1 STRATEGY MATTERS Strategic Positioning, Target Industry Assessment & Action Plan January 8, 2015 Janet Ady President & CEO Brandon Rutz Senior Director of Research Bennett Syverson Vice President & Senior Creative Director Voltedge, Inc. dba Ady Advantage 613 Williamson Street, Suite 201 Madison, WI AdyAdvantage.com # 2015 Ady Advantage 1
2 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 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
3 About Ady Advantage Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
4 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. Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
5 Economic Development Megatrends 2015 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
6 Megatrend #1: Elimination of Risk What s driving it: Avoidance of surprises Competitiveness of economic development field Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
7 Megatrend #1: Elimination of Risk 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
8 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
9 Florida on Fiscal Position Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
10 Megatrend #2: Increasing Role of Regions 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
11 Megatrend #2: Increasing Role of Regions 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
12 The Local-Regional-State Ecosystem 2015 Ady Voltedge Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
13 Megatrend #3: Competitiveness Among EDOs 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
14 Megatrend #3: Competitiveness Among EDOs 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
15 Value Proposition/Positioning Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date 2015 Ady Advantage January 8,
16 Competitive Landscape 16 Ady Advantage January 8, 2015 Indian River County Strategic Positioning, ClientTarget NameIndustry - Presentation Assessment Title & Presentation Action Plan Date 2015 Voltedge, Inc. dba Ady Voltedge 613 Williamson St, Suite 201 Madison WI AdyVoltedge.com 16
17 So what do these megatrends mean for Indian River County and the current project? Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
18 Project Overview Project Overview & Goals 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. To access the full report (to-date) please refer to the following links: Indian River County website link: Indian River County Chamber of Commerce website link: Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
19 Focus of Indian River County Positioning Project Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
20 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 PHASE 2 OPTION Present Revised Final Economic Development Positioning Analysis Report & Action Plan (Optional BCC Meeting #2) Optional Date TBD TASK 1 Identify Current Marketing & Branding Efforts (How IRC is presented to others) Date TBD PHASE 3 TBD Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date 2015 Ady Advantage January 8,
21 The Business Environment Labor & Talent 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
22 The Business Environment Infrastructure Highway Rail - Air Port Utilities Marginally Competitive - Marginally Disadvantaged Competitive Neutral -- Disadvantaged Very Competitive --- Significantly Disadvantaged Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
23 The Business Environment Regulation & Incentives State Regulatory & Permitting - - Local Regulatory & Permitting - State Incentives Local Incentives Marginally Competitive - Marginally Disadvantaged Competitive Neutral -- Disadvantaged Very Competitive --- Significantly Disadvantaged Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
24 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 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
25 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 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
26 Site Preparation 26 Ady Advantage January 8, 2015 Indian River County Strategic Positioning, ClientTarget NameIndustry - Presentation Assessment Title & Presentation Action Plan Date
27 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 Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
28 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. Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
29 Core Economic Assets General Business Costs Asset Map Importance to Business Decision Indian River County Competitiveness Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
30 ! Core Economic Assets General Conditions Asset Map Availability of Labor Rail Access Water Gas Fiber Air Access Hwy Access Importance to Business Decision!!! Access to Pop. Reg. Enviro Sites & Buildings Natural Disaster Risk K-12 Education Higher Ed. Student Pipeline! Labor Force Growth VoTech Edu. Training Programs Diversity/Quality of Higher Ed. Population Growth Indian River County Competitiveness Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
31 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 costcompetitive 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. Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
32 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. Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
33 Preliminary Recommendations 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 Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
34 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? Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
35 Next Steps 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 PHASE 2 OPTION Present Revised Final Economic Development Positioning Analysis Report & Action Plan (Optional BCC Meeting #2) Optional Date TBD TASK 1 Identify Current Marketing & Branding Efforts (How IRC is presented to others) Date TBD PHASE 3 TBD Indian River County Strategic Positioning, Client Target Name Industry - Presentation Assessment Title & Presentation Action Plan Date Ady Advantage January 8,
36 STRATEGY MATTERS Thank You Janet Ady President & CEO Newsletter at To access the full report (to-date) please refer to the following links: Indian River County website link: Indian River County Chamber of Commerce website link: Voltedge, Inc. dba Ady Advantage 613 Williamson Street, Suite 201 Madison, WI AdyAdvantage.com # 2015 Ady Advantage
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