Central/Southern RPC Central/Southern RPC Economic Development - - PowerPoint PPT Presentation

Central/Southern RPC Central/Southern RPC Economic Development Economic Development Economic Development Economic Development SWOT Analysis SWOT Analysis

Friday May 10, 2013 Friday May 10, 2013

SWOT Analysis SWOT Analysis

• Measure community

Measure community strengths and weaknesses strengths and weaknesses

• Weigh

Weigh against against validated validated industry factors industry factors

• Compare

Compare with data from similar jurisdictions with data from similar jurisdictions

• Reality

Reality check on opportunities and expectations check on opportunities and expectations

• Reality

Reality check on opportunities and expectations check on opportunities and expectations

• Benchmark regional competitiveness

Benchmark regional competitiveness

• Identify conditions & circumstances

Identify conditions & circumstances that discourage economic growth that discourage economic growth

• Enhance

Enhance the power of the power of leaders leaders to make to make change change in in policies & procedures policies & procedures

• Enable

Enable communities to compete for communities to compete for private private sector sector investment investment

Arnett Hawk Zizzi

SWOT Analysis SWOT Analysis

Comprehensive Self Comprehensive Self-assessment Tool assessment Tool

Access to Customers & Markets Access to Customers & Markets Concentration of Businesses & Services Concentration of Businesses & Services Real Estate and Infrastructure Real Estate and Infrastructure Labor Market Factors Labor Market Factors Labor Market Factors Labor Market Factors Municipal Permit Processes Municipal Permit Processes Community Quality of Life Community Quality of Life Site Related Amenities Site Related Amenities Business Incentives Business Incentives Local Tax Rates Local Tax Rates Access to Local Information Access to Local Information

Input received from a broad range of community interests… business leaders, Input received from a broad range of community interests… business leaders, business & industry business & industry organizations, local officials and regional planning agencies rganizations, local officials and regional planning agencies

Arnett Hawk Zizzi

SWOT Analysis SWOT Analysis

The The results of the results of the assessment provide community leaders assessment provide community leaders with the with the necessary information to understand necessary information to understand the the operations of its various

• perations of its various

sectors and how each can affect sectors and how each can affect the the economic economic climate: climate:

• To articulate realistic economic

To articulate realistic economic development development goals goals To articulate realistic economic To articulate realistic economic development development goals goals

• To define and execute an effective strategy

To define and execute an effective strategy

• To

To undertake actions to mitigate or eliminate undertake actions to mitigate or eliminate weaknesses weaknesses

• To

To emphasize strengths in recruiting and marketing emphasize strengths in recruiting and marketing efforts efforts

• To

To integrate integrate the strategies the strategies into all into all public & private processes public & private processes

Arnett Hawk Zizzi

Industry Industry Information Information

With With the assistance of NAIOP and CoreNet Global, 4,000 the assistance of NAIOP and CoreNet Global, 4,000 corporate real estate and development professionals were corporate real estate and development professionals were surveyed on factors effecting business location surveyed on factors effecting business location decisions decisions

• Local Permitting Processes

Local Permitting Processes Local Permitting Processes Local Permitting Processes

• Labor Suitability and Availability

Labor Suitability and Availability

• Development and Operating Costs

Development and Operating Costs

• Local Business Environment

Local Business Environment

• Transportation

Transportation /Information Access /Information Access

• Amenities and Quality of Life

Amenities and Quality of Life

Arnett Hawk Zizzi

Validated Industry Factors Validated Industry Factors

The The Most Important Most Important

• Labor Availability
• Timeliness of Approvals

Transportation Access

• Transportation Access
• Communication / Information Bandwidth
• Nearby Amenities and Services
• Business Friendly Environment
• Business Costs (real estate, utilities)

Arnett Hawk Zizzi

Validated Industry Factors Validated Industry Factors

The The Least Important Least Important

• Minimum Wage Laws

Minimum Wage Laws

• Access to Rail

Access to Rail

• Access to Rail

Access to Rail

• Labor

Labor Unions Unions

• Local Taxes

Local Taxes

• Business Incentives

Business Incentives

Arnett Hawk Zizzi

Additional Comments Additional Comments

“From our perspective, From our perspective, time is money time is money. We may actually . We may actually be able to make a deal work more effectively if we can be able to make a deal work more effectively if we can get expedited permits and infrastructure enhancements get expedited permits and infrastructure enhancements than by factoring a tax subsidy into our pro forma.” than by factoring a tax subsidy into our pro forma.” “If municipal leaders can If municipal leaders can work with us work with us as a team to as a team to expeditiously solve problems related to zoning expeditiously solve problems related to zoning regulations, permitting, and an array of related factors regulations, permitting, and an array of related factors that can be barriers to investment, we can do business.” that can be barriers to investment, we can do business.”

Arnett Hawk Zizzi

Additional Comments Additional Comments

“Where would we eat lunch if we located there “Where would we eat lunch if we located there?” ?” “Our employees want to run at lunchtime or “Our employees want to run at lunchtime or run run personal errands before personal errands before or after work. Our location

• r after work. Our location

decisions must factor that into the equation decisions must factor that into the equation.” .” decisions must factor that into the equation decisions must factor that into the equation.” .” “Firms like to locate where other firms in the same “Firms like to locate where other firms in the same industry already are established and where suppliers, industry already are established and where suppliers, distribution networks and support services already distribution networks and support services already exist exist.” .”

Arnett Hawk Zizzi

Private Investment Private Investment

It’s all about the “opportunity cost of capital” It’s all about the “opportunity cost of capital” It’s all about the “opportunity cost of capital” It’s all about the “opportunity cost of capital” Plus “compensating differentials” Plus “compensating differentials”

Arnett Hawk Zizzi

Your Your Central / Southern RPCs Central / Southern RPCs CEDS CEDS SWOT Analysis Results SWOT Analysis Results

Arnett Hawk Zizzi

Geographic Attributes Geographic Attributes

• Very High Quality of Life

Very High Quality of Life

• Natural Resources / Open Space

Natural Resources / Open Space New England New England Historic Historic / Scenic Charm / Scenic Charm

• New England

New England Historic Historic / Scenic Charm / Scenic Charm

• Outdoor Activities

Outdoor Activities

• Proximity to Cultural

Proximity to Cultural Activities Activities

Arnett Hawk Zizzi

Demographic Demographic Attributes Attributes

• Greater % of Working Age Population

Greater % of Working Age Population

• More Highly Educated

More Highly Educated

• Higher Median Incomes

Higher Median Incomes

• More Self

More Self-employed & Work employed & Work-at at-home home

Arnett Hawk Zizzi

Economic Attributes Economic Attributes

Industry Agglomerations Industry Agglomerations

• Finance & Insurance

Finance & Insurance

• Wholesale Trade

Wholesale Trade

• Wholesale Trade

Wholesale Trade

• Healthcare Services

Healthcare Services

• Education Services

Education Services

Arnett Hawk Zizzi

Ranking & Rating Ranking & Rating

Industry Factors Industry Factors

Very Very Important Important

Relative to Competition Relative to Competition

Very Very Strong Strong Strong Strong Important Important Less Important Less Important Strong Strong Neutral Neutral Weak Weak Very Very Weak Weak

Arnett Hawk Zizzi

Ranking & Rating Ranking & Rating

Access to Access to Customers/Markets Customers/Markets

Highway Highway Very Important / Strong Very Important / Strong VI / S VI / S Transit Transit Important Important / / Very Weak Very Weak I / VW I / VW Parking Parking Less Less Important Important / Very Strong / Very Strong LI / VS LI / VS Air Air Important Important / / Strong Strong I / S I / S Air Air Important Important / / Strong Strong I / S I / S Rail Rail Less Less Important Important / Weak / Weak LI / W LI / W

Agglomeration Agglomeration

Complementary/Supplemental Business Complementary/Supplemental Business Services Services VI VI / / S Critical Mass of Critical Mass of Firms Firms I / N I / N Marketing Marketing LI / W LI / W Proximity to Colleges & Proximity to Colleges & Universities Universities VI VI / / W

Arnett Hawk Zizzi

Ranking & Rating Ranking & Rating

Development Opportunities & Development Opportunities & Costs Costs

Infrastructure Infrastructure I / W I / W

Data/Telecommunications Data/Telecommunications – Fiber optic Fiber optic / Broadband / Broadband VI VI / VW / VW Data/Telecommunications Data/Telecommunications – Cell Service Cell Service VI / W VI / W

Existing Space Existing Space I / VS I / VS

Workforce Workforce Workforce Workforce

Wages Wages VI VI / VS / VS Composition Composition VI VI / VS / VS Training Resources Training Resources VI VI / / S

Local Processes Local Processes

Timeliness of Approvals Timeliness of Approvals VI VI / S / S Permit Processes Permit Processes VI VI / / N Citizen participation in the Processes Citizen participation in the Processes VI VI / / VS VS

Arnett Hawk Zizzi

Ranking & Rating Ranking & Rating

Quality of Life Quality of Life

Cultural and Recreational Opportunities Cultural and Recreational Opportunities VI / S VI / S Crime Crime I / S I / S Housing Housing I / VS I / VS Local Schools Local Schools VI VI / S / S Local Schools Local Schools VI VI / S / S Other Amenities Other Amenities VI VI / W / W

Business Incentives Business Incentives LI / W LI / W Taxes Taxes

Local Rates Local Rates LI / N LI / N Delinquency Delinquency LI / N LI / N

Access to Development Access to Development Information Information VI VI / W / W

Arnett Hawk Zizzi

SWOT Summary SWOT Summary

STRENGTHS STRENGTHS

• Labor

Labor Availability Availability

• Well Educated Population

Well Educated Population

• Highway Access

Highway Access

• Highway Access

Highway Access

• Business Friendly Environment

Business Friendly Environment

• Business Costs (real

Business Costs (real estate, wage rates) estate, wage rates)

• Critical Mass of Firms (health, finance, trade)

Critical Mass of Firms (health, finance, trade)

• High % of Self

High % of Self-employed employed & & Work Work-at at-home home

• Natural Environment / Outdoor

Natural Environment / Outdoor Activities Activities

Arnett Hawk Zizzi

SWOT Summary SWOT Summary

WEAKNESSES WEAKNESSES

• Communication / Information

Communication / Information Bandwidth Bandwidth

• No Research University

No Research University

• Few Nearby Amenities

Few Nearby Amenities

• Little Public Transit

Little Public Transit

• Physical Infrastructure Limitations

Physical Infrastructure Limitations

• Community

Community – Entrepreneur Connection Entrepreneur Connection

Arnett Hawk Zizzi

SWOT Summary SWOT Summary

OPPORTUNITIES OPPORTUNITIES

• Local Schools

Local Schools Involvement Involvement

• Local Business Involvement

Local Business Involvement Cross Marketing (towns, firms, brokers) Cross Marketing (towns, firms, brokers)

• Cross Marketing (towns, firms, brokers)

Cross Marketing (towns, firms, brokers)

• Available Sites Inventory

Available Sites Inventory

• Entrepreneur Relations

Entrepreneur Relations

• Access to Development

Access to Development Information Information

• Website Development & Improvement

Website Development & Improvement

Arnett Hawk Zizzi

Recommendations Recommendations

• Don’t Chase

Don’t Chase

• Grow Your Own

Grow Your Own

• Engage Local Entrepreneurs & Investors

Engage Local Entrepreneurs & Investors

• Support & Incubate

Support & Incubate

• Emphasis on Streamlining Local Processes

Emphasis on Streamlining Local Processes

• Emphasis on Streamlining Local Processes

Emphasis on Streamlining Local Processes

• Emphasis on Skills Training & Work Readiness

Emphasis on Skills Training & Work Readiness

• Pursue Broadband & Cellular Upgrades

Pursue Broadband & Cellular Upgrades

• Improve Website(s) Utility & Content

Improve Website(s) Utility & Content

• Increase Business Development Services & TA

Increase Business Development Services & TA

• View through a Regional Lens

View through a Regional Lens

• Take Regional Approach… Create Regional Brand

Take Regional Approach… Create Regional Brand

Arnett Hawk Zizzi

Next Steps Next Steps

CEDS = Strategy CEDS = Strategy Plan Development = Articulation of Strategy with Actions Plan Development = Articulation of Strategy with Actions Project Selection Follows Project Selection Follows

Goal Goal: To engage local entrepreneurs : To engage local entrepreneurs & & investors investors Objective Objective: Build roster of major players in all towns by : Build roster of major players in all towns by date date Action 1 Action 1: Contact chambers, bankers, High : Contact chambers, bankers, High-

• Tech Council, VCs, etc.

Tech Council, VCs, etc. Action 2 Action 2: Reach out to and involve roster members : Reach out to and involve roster members

Arnett Hawk Zizzi

Next Steps Next Steps

CEDS = Strategy CEDS = Strategy Plan Development = Articulation of Strategy with Actions Plan Development = Articulation of Strategy with Actions Project Selection Project Selection Follows Follows

Goal Goal: To : To exploit the power of the Internet & social media exploit the power of the Internet & social media Objective Objective: : To improve websites, etc., in To improve websites, etc., in all towns all towns & RPCs by & RPCs by date date Action 1 Action 1: : Review for content, ease of use, forms, automation, links Review for content, ease of use, forms, automation, links Action 2 Action 2: : Explore best practices Explore best practices

Arnett Hawk Zizzi

Next Steps Next Steps

• Share

Share the SWOT analysis with the SWOT analysis with your local leaders your local leaders

• Involve interested citizens, business groups, local

Involve interested citizens, business groups, local media media

• Pursue and incorporate feedback

Pursue and incorporate feedback

• Review local master plans / economic development plans

Review local master plans / economic development plans

• Continue working with

Continue working with RPCs RPCs to to develop / execute actions develop / execute actions

• Adopt the

Adopt the CEDS CEDS as a regional as a regional economic development economic development plan plan

• Publicity

Publicity for the for the CEDS… communicate & engage CEDS… communicate & engage

Arnett Hawk Zizzi

Contact Information Contact Information

Stuart T. Arnett Stuart T. Arnett Arnett Development Group LLC 10 Fisk Road - Unit B Concord, NH USA 03301-6211 603-219-0043 office 603-419-9154 cell stuart@ArnettDevelopmentGroup.com Roger Hawk Roger Hawk Roger Hawk Roger Hawk Hawk Planning Resources LLC 9 Liberty Street Concord, NH 03301-2928 603-545-1698 rhawk@hawkplanning.com Dr

• Dr. Don

. Don Zizzi Zizzi B.U. Professor of Development Economics Senior Fellow – UMass Lowell Center for Industrial Competitiveness Donald_Zizzi@uml.edu

Arnett Hawk Zizzi