columbia chamber leadership retreat 29 apr 2010
DESCRIPTION
An overview of the Missouri Partnership as presented to business and civic leadership from Columbia, Missouri (home of the University of Missouri\'s main campus)TRANSCRIPT
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An Introduction to the Missouri Partnership
Columbia Chamber of Commerce2010 Leadership Retreat
Presented by:Christopher Chung
The Missouri PartnershipApril 29, 2010
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Presentation Topics Introduction to the Missouri Partnership How we market our “product” and work
our deals Long-term challenges for Missouri How does Columbia stack up? Questions and answers
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About theMissouri Partnership
An Overview of the State’sInvestment Promotion and
Business Recruitment Group
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Introduction to theMissouri Partnership
Mission To promote Missouri as a destination for new
business investment To recruit new employers and jobs to Missouri
Structure Public-private non-profit corporation
Governance 12-member Board of Directors from statewide
Size 10 employees – Sales, Marketing, and Admin
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Introduction to theMissouri Partnership
What are its key objectives? Why was it created? Who else uses this approach?
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Introduction to theMissouri Partnership
What are our key objectives? Deliver the “message” about Missouri’s
positive business attributes Raise awareness and visibility of Missouri and
its advantages as a place to do business Generate investment leads (i.e. “Get Missouri
on the list”) Work with partners to close investment deals
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Introduction to theMissouri Partnership
Why was it created? Effectiveness of public-private partnership
model Engagement of private-sector resources Needed consistency in marketing efforts Needed continuity in sales relationships
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Introduction to theMissouri Partnership
Who else uses this approach? Florida – Enterprise Florida Alabama – Econ. Dev. Partnership of Alabama Utah – Econ. Dev. Corporation of Utah Ohio – Ohio Business Development Coalition
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Marketing Missouri forNew Business Investment
An Overview of How We Market Missouri Around the World
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Defining Economic Development
Three principal components of economic development and job creation Retention and expansion of existing industry Entrepreneurial development, technology
commercialization, and small business growth New business recruitment
The Missouri Partnership was formed to address the area of new business recruitment
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Marketing forNew Business Investment
Significance of new business recruitment Generates net new job creation and capital
investment (versus intra-state relocation of existing businesses)
Provides new market opportunities for local suppliers of goods and services
Attracts new residents and income base
Success depends heavily on perception and external marketing efforts, similar to winning new “customers”
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Marketing forNew Business Investment
Key Stages in the Investment Decision Missouri must win the right to compete
Achieved through marketing/relationships Missouri must win the competition
Achieved through recruitment (sales) effort Missouri must win the repeat competition
Achieved through retention/expansion effort
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How Does Missouri Win the “Right to Compete”?
Our Marketing Strategy “Air Campaign”
Build a positive image of Missouri for business Shape perception of Missouri business climate
“Ground Campaign” Develop and manage relationships with
decision-makers and decision-influencers Initiate face-to-face conversation about plans
Ultimate goal is to generate qualified investment leads
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How Does Missouri Win the “Right to Compete”?
“Air Campaign” Tactics Advertising Earned media Digital (web, social media, e-news
releases, search-engine optimization) Thought-leadership activities
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How Does Missouri Win the “Right to Compete”?
Elements of “Air Campaign” Messaging Features new Missouri brand Focused on relevant industry assets Relies on success stories and corporate
testimonials Highlights improvements to business
climate and positive acknowledgments/rankings for Missouri
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Cooperative advertisement with ABC Labs (Columbia)
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Cooperative advertisement with ProEnergy (Sedalia)
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Cooperative advertisement with AirEvac (West Plains)
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Cooperative advertisement with Springfield Remanufacturing (Springfield)
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Cooperative advertisement with Boehringer Ingelheim Vetmedica (St. Joseph)
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Cooperative advertisement with Handmark (Kansas City)
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Cooperative advertisement with Triumph Pharmaceuticals (St. Louis)
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Advertisement in North American Wind magazine
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Advertisement in 25 of the largest metro business journals in the U.S.
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US Airways in-flight magazine advertisement
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Advertisement in Next Generation Pharma
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Advertisement in Business Xpansion Journal
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Advertorial supplement for North American Clean Energy
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Advertorial insert for Business Facilities and Pharmaceutical Commerce
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Advertorial supplement for Inbound Logistics
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Advertorial insert for Site Selection
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Earned media in Wall Street
Journal re: state incentive
programs
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Earned media in NYTimes.com re: algae-to-biofuels development
in Missouri
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Missouri “e-news release” on Missouri 2009 tax climate rankings
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Missouri trade show exhibition booth
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Missouri trade show exhibition booth at Paris Air Show (2009)
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Missouri trade show exhibition booth at China Overseas Investment Fair (2009)
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Marketing brochure for wind energy investment in Missouri
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Marketing brochure for solar energy investment in Missouri
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Marketing brochure for agribusiness investment in Missouri
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Missouri incentives collateral piece
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How Does Missouri Win the “Right to Compete”?
“Ground Campaign” Tactics Conference sponsorships Tradeshow exhibition presences Decision-maker outreach (e.g. site
selection consultants)
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How Does Missouri Win the “Right to Compete”?
Conference Sponsorship Efforts (2010) Industrial Asset Management Council German-American Chamber of Commerce
Wind Energy Business Conference SPEED News Aerospace Conference Midwest-US Japan Association Soy and Natural Foods Conference
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How Does Missouri Win the “Right to Compete”?
Tradeshow Exhibition Efforts (2010) CoreNet Global Biotechnology Industry Organization
(BIO) Solar Power International WINDPOWER Expo AFCOM Data Center World
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How Does Missouri Win the “Right to Compete”?
Decision-Maker Outreach Efforts (2010) Consultant outreach events
Chicago Greenville, SC New York / New Jersey Los Angeles Cleveland
International trade commissioners and consular offices
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How Does Missouri Win the “Right to Compete”?
Our Marketing Partners Missouri Department of Economic
Development Hawthorn Foundation Local and regional economic
development groups Private industry in Missouri (e.g. utility
companies, construction firms)
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Our Process for Working Recruitment Deals How we work on business recruitment deals:
“State-sourced” recruitment opportunities Generate leads through marketing and sales
relationships Identify locations in Missouri meeting the
client’s needs Incentive proposals from state and local
communities Ombudsman role for clients
How Does Missouri Win the Competition for Investment?
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Our Process for Working Recruitment Deals How we work our business recruitment deals:
“Locally-sourced” recruitment opportunities Represent Missouri at the table with clients Facilitate incentive proposals from state Utilize existing client relationships
How Does Missouri Win the Competition for Investment?
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Long-Term Challenges
Product Awareness Raising the visibility of Missouri and its
economic development potential Shaping a positive perception of Missouri as a
place to do business
Product Development Targeting growth industries that complement
Missouri’s advantages
Business climate improvements
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How Does Columbia Stack Up?
Product Awareness/Perception Product Development
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Things I Love About Columbia
Booche’s, Shakespeare’s, Flat Branch Brewery, Murry’s, Lakota Coffeehouse, Village Wine & Cheese (R.I.P.)
KBIA-FM
True/False Film Festival
The District
Stephens Lake Park
The friendliness of the people
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Questions?
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Thank You!
Christopher ChungPresident and CEOThe Missouri Partnership+1.314.725.0949 (O)+1.573.808.0089 (M)[email protected]