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

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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

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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


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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Economic Development Megatrends 2015

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Chamber of Commerce

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Megatrend #1: Elimination of Risk

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What’s driving it: •  Avoidance of “surprises”

•  Competitiveness of economic development field


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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


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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

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Florida on Fiscal Position

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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

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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.


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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


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The Local-Regional-State Ecosystem

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©2015 Ady Voltedge

Business Recruitment

Business Retention &

Expansion

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Business Start Up

STATE


Chamber of Commerce

REGIONAL LOCAL


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


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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.


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Value Proposition/Positioning

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Go gle

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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 ...


Chamber of Commerce


Competitive Landscape

Voltedge, Inc. dba Ady Voltedge | 613 Williamson St, Suite 201 | Madison WI 53703 | 608.663.9218 | AdyVoltedge.com

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So what do these megatrends mean for Indian River County and the current project?

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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

Orchid. Sebastian. Vero Beach

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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

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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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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


Chamber of Commerce

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Infrastructure

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Highway ★

Rail -

Air ¢

Port ★★

Utilities ¢





Chamber of Commerce

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Regulation & Incentives

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State Regulatory & Permitting - -

Local Regulatory & Permitting -

State Incentives ★★

Local Incentives ★





Chamber of Commerce

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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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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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Site Preparation

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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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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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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

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Low-skilled Labor Cost ig skilled Labor Cost

State B siness Tax

Sa les Tax

Payroll Costs

Cost of Living •



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


Chamber of Commerce

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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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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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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


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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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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


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‹#› 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

[email protected]

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

~

I ,;: Indian River County 8 ~ Strategic Positioning, Target Industry Assessment & Action Pion

~ Fellsmere. lndkm River Shores.

I "' lE lE "' "' ~

Orchid, Sebastion, Vefo Beoch

~----------------

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