WORKING DRAFTLast Modified 2/17/2010 11:16:41 PM Eastern Standard TimePrinted 2/8/2010 12:52:18 PM Eastern Standard Time

Economic Development

February 24, 2010

Attract Pillar Discussion

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Today’s Objectives

Attract pillar mission and goals

Overview of Attract strategies

Attract strategy key initiatives

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The Attract Pillar objectives stem from the Columbus2020! vision

The Attract Pillar1

The attract pillar will develop and execute strategies that will create jobs in support of Columbus 2020 goal of stimulating the increase of 180,000 net new jobs and will proactively target and pursue projects that positively impact the per capita income and position Columbus 2020 as one of the most aggressive and successful business attraction organization.

SOURCE: 2007 Reports from the Columbus Partnership; The Columbus Partnership Statement of Principles report

In 2020, Columbus will be recognized as a vibrant and successful region where emerging innovation, thriving talent, and a collaborative culture generate one of the fastest growing economies in the nation and one of the nation’s leaders in economic development

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Vision

Attract

Create

Retain/Expand

Civic infrastructure

4 Pillar Strategy

Mission

Pillar Metrics

Goals

▪ Number of jobs created by Attract▪ Average income of jobs created▪ Ranking/Rating

Number of jobs created – Goal being setAverage income of new jobs – Goal being setRanking and/or benchmark rating– Top 10

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Today’s Objectives

Attract pillar mission and goals

Overview of Attract strategies

Attract strategy key initiatives

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Attract will pursue 3 core strategies to achieve its goals

What does success look like?

▪ CEOs and site selectors consider a preferred business location

▪ Columbus identified for its strength in targeted industry sectors

▪ Significant increase in the number of leads that are identified, qualified and pursued

Strategy Descriptions

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▪ Columbus2020! is the single point of entry for attraction projects

▪ Conversion rate of leads to prospects to locates is among top performing organizations

▪ Significant increase in company visits and projects that receive incentive proposals

▪ All LEDO’s actively support Columbus2020 and leverage prospect management services

▪ Community leaders, CEO’s, and key organizations consistently articulate regional assets and actively engage in the closing process

Marketing & Lead Development: Aggressively market the Columbus Region as a viable location to relocate/expand operations and proactively pursue key companies in targeted industry sectors

Prospect Management: Position Columbus2020! as the single point of entry for attraction projects and develop and execute a comprehensive lead management process to ensure the highest probability of success

Community Engagement: Engage and empower the public and private sector partners in the Attract strategy to ensure the highest probability of success

Why is it important?

▪ Research-led targeting yields a greater percent of leads than shotgun approach

▪ Improvement in the perception of business climate and awareness of target industries among CEOs and site selectors leads to increased pipeline

▪ Competitive and comprehensive prospect management services are a requirement to compete and win attraction projects

▪ Efficient and professional prospect management services can lead to repeat business from site location advisors

▪ Majority of high performing attraction organizations have active community engagement

▪ Site selectors tend to favor locations with strong regional collaboration

▪ Increases level of professionalism

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Today’s Objectives

Attract pillar mission and goals

Overview of Attract strategies

Attract strategy key initiatives

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Strategy description

Columbus will launch a series of initiatives to optimize marketing and lead development

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Key initiatives to implement strategy

Rationale for initiativesKey initiatives

▪ 90% of location projects begin on the Internet. Social media continues to grow as a means of engaging our audience and driving traffic to the web site

▪ Key differentiated compelling reasons to consider Columbus are not commonly held in the marketplace

▪ Articles are more respected as factual than paid advertising

▪ Paid advertising, while not a significant lead generator, does influence brand and awareness. It is essential at the outset of a campaign

▪ Annually, 75% of location projects in the US are done without benefit of site consultants

▪ Site selectors led projects account for over 50% of industrial investment (large investments)

▪ Foreign direct investment is expected to increase as the dollar’s value continues to slide. Columbus has been especially successful in international al markets

▪ Develop an optimized web presence and social media campaign

▪ Develop key domestic and international marketing collaterals (print and digital)

▪ Execute an earned and paid media campaign

▪ Launch a targeted industry lead development program

▪ Launch a site location advisor relationship/marketing campaign

▪ Launch a consultant based international lead development initiative

Aggressively market the Columbus Region as a viable location to relocate/expand operations and proactively pursue key companies in targeted industry sectors

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Position Columbus2020! as the single point of entry for attraction projects, leverage a team of economic development professionals to cultivate and foster all qualified opportunities and execute a best in class lead management process to ensure the highest probability of success

Key initiatives to implement strategy

Rationale for initiativesKey initiatives

Strategy description

▪ Executing a best in class response process leads to a higher conversion rate

▪ Site selection consultants value excellence in practitioner response/facilitation.

▪ 54% of candidates indicate Information/assistance in obtaining financial/tax incentives are most important

▪ Ability to provide value added services like research differentiates high performing organizations

▪ Develop a robust response program that triples the throughput rate of response packages

▪ Create excellence in Prospect Management Services i.e. provide excellence in incentive facilitation

▪ Build quality research capacity to enhance response materials

Columbus prospect management process will become best in class by…

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Engage and empower the public and private sector partners in the Attract strategy to ensure the highest probability of success

Key initiatives to implement strategy

Rationale for initiativesKey initiatives

Strategy description

▪ Due to the number of potential parties that can be involved, collaboration on site location process is critical

▪ Regionalism is the number #1 organizational shift in the delivery of economic development services

▪ Local business leaders communicating with external colleagues about a region’s business advantages offers a potentially blockbuster marketing opportunity

▪ Corporate executives are more credible resource than traditional marketing

▪ Continue to build the regional capacity to identify and pursue leads and prospects.

▪ Private sector executive engagement, i.e., Ambassadors for lead identification during corporate travel, supplier meetings

▪ Engage Columbus corporate leaders to meet as peers with prospective corporate locates

Increased community engagement will make Columbus attraction distinctive by…

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WORKING DRAFTLast Modified 2/17/2010 11:16:41 PM Eastern Standard TimePrinted 2/8/2010 12:52:18 PM Eastern Standard Time

Economic Development

February 24, 2010

Attract Pillar Discussion