Strategy for Economic Development Agencies
Most counties have an economic development agency whose sole responsibility is to attract new businesses and/or retain the ones they have.
These agencies can have multiple strategic needs ranging from their own operational strategy to a formal Strategic Marketing Plan to identify who to attract, what to say, to whom, using what media so they get the best return on their marketing spend.
Often times your economic development body is competing with one or more others in attracting a great opportunity to your region. Just like products and services, Capacity uses proven methodologies and solid research to help you identify your strengths, and/or the competing location’s weaknesses, so you have the best chance of winning that new project or expansion.
Sometimes it isn’t just a matter of leveraging strengths and weaknesses to win a “sale”. Sometimes you have a pretty good idea you are superior, but need an objective study to show a third party you fit their criteria best. A completely objective, research based, analysis by an independent consulting firm can be a crucial tool.
New York Resort Casino Competition Analysis
The Sullivan County Partnership for Economic Development hired Capacity to analyze six counties in the running for a resort casino license. We developed a study using 28 separate measurements to identify which counties would best meet the state’s 3 legislative criteria. Of utmost importance to the legitimacy of the study, was that it be conducted as if the state hired us… with no bias towards any particular county, including our client.
Sullivan County ranked very high with propensity to consume and the velocity of money being the key resulting factors in meeting the legislative criteria.
“Capacity Consulting played a critical role in supporting the messaging strategy used to help secure the Montreign Casino approvals. Their in depth analysis clarified clearly why Sullivan County was the best choice for a casino.” Marc Baez – President Sullivan County Partnership for Economic Development