HR Green Business Attraction - Manual (Page 2)

▪ Developing Targeted Marketing Strategy:
So, you want to attract new investment and jobs but your community is facing some
challenges about how to do this the right way. Do you choose direct mail campaigns,
print advertising, produce a video, or is it all about the web site? We can help you
identify an array of approaches – some of which can originate within your organization
and others designed to leverage partnerships with other economic development
organizations. Here are a few:
+ Supplier-Industry campaigns – opportunities and limitations
+ Cultivating entrepreneurial opportunities
+ Engaging the local business community
▪ Forming and Implementing a Regional Marketing Plan:
Regional marketing consortia have been around for a long time but the successful
programs understand the importance of working well together, being an engaged
participant, and understand that the region benefi ts when new investment and jobs are
attracted.
▪ Qualifying and Tracking Prospects and Leads:
Measuring performance is the cornerstone of keeping the organization focused and
your investors engaged in efforts to capture new investment and jobs. Applying
a systematic approach to business prospect and leads can create a deeper
understanding of each company’s site location priorities and provide tailored
information to appropriate representatives. In addition, back-offi ce data can reveal
important information that can contribute to a more competitive community (e.g.,
physical features in a business park setting, skilled labor training, etc.).
+ Generate reports that tracks progress of business prospects and leads
+ Cultivate on-going relationships via scheduled correspondence and personal
contacts
+
Provide measurable evidence of prospect development
▪ Incentives and Policies Concerning Incentivizing Projects:
While much maligned, fi nancial incentives are part of the fabric when it comes to
attracting businesses to communities. The objective is to balance the needs of the
project with a measurable benefi t to the community. Having been intimately involved
in representing both private sector clients and municipalities in the negotiating fi nancial
incentives, we can provide unique insight to communities.
+ Identify and evaluate alternatives to generate private sector investment
+ Create tax increment fi nance areas (TIF), Business Improvement Districts, Self-
Supported Municipal Improvement Districts, Enterprise Zones, Urban Revitalization
Tax Exemption Areas
+
Develop and implement local or regional revolving loan fund programs
+ Create a uniform policy and practice to administer fi nancial incentive programs
+ Negotiate private development agreements
▪ Prepare marketing materials that are consistent with site location
criteria and presented in a format that is meaningful to the
business prospect:
Delivering concise information that is consistent with your prospect’s hot buttons is
how we can help – be it, highlighting advantages associated with the cost of doing
business to quality of life concerns.
+ Prepare materials that address specifi c concerns and compliment data provided by
your economic development partners
+
Deliver information through different media – web, social, print, etc.
+ Deliver local and regional materials that cites collective advantages
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