Foreign Direct Investment (FDI) Strategic Planning Report to - - PowerPoint PPT Presentation
JULY 26, 2011 Page 1 of 22 5 a - CC Foreign Direct Investment (FDI) Strategic Planning Report to Middlesex County Council Tom Ticknor T icknor & Associates Eric Hochstein Highstone Associates, Inc. July 26, 2011 JULY 26, 2011 Page 2
Tom Ticknor
Ticknor & Associates
Eric Hochstein Highstone Associates, Inc. July 26, 2011 JULY 26, 2011 Page 1 of 22 5 a - CC
FDI Strategy
Ticknor/Hochstein
2 JULY 26, 2011 Page 2 of 22 5 a - CC
FDI Strategy
Ticknor/Hochstein
3 JULY 26, 2011 Page 3 of 22 5 a - CC
– Community preparedness – Staffing & budget – Website, information and communication basics – Business Retention and Expansion (BR&E) – Positioning and messaging – Response capabilities
FDI Strategy
Ticknor/Hochstein
4 JULY 26, 2011 Page 4 of 22 5 a - CC
– New jobs, higher wages – Net tax contributor – Fresh technologies, innovation, new business processes/practices – Drives “non-basic” sectors--local services, housing, etc.
FDI Strategy
Ticknor/Hochstein
5 JULY 26, 2011 Page 5 of 22 5 a - CC
– Team Briefing/Kickoff – Investment Seminar – Mid-Term Report
– Site visits, interviews with Task Force members, selected employers – Regular debriefs with Aileen and Steve and Sabrina
– MEDT, OMAFRA, SWEA, SCOR – Best practices interviews & research – Interviews with Consulates General in US
– ED consulting, site location – Representing Ontario in the US
FDI Strategy
Ticknor/Hochstein
6 JULY 26, 2011 Page 6 of 22 5 a - CC
– Population growth – Good transportation access – Quality shovel-ready sites – Capable workforce in similar industries
– Solid information – Speedy response
– More understandable geography – The labour market defines your location – Efficiency in site search
FDI Strategy
Ticknor/Hochstein
7 JULY 26, 2011 Page 7 of 22 5 a - CC
– Part of London region & labour market – Direct access to 3 border crossings via Highways 401 & 402 – Diverse economic base – Growth – Adequate present/developing shovel-ready sites at reasonable cost – Relatively low land and tax rates
– No identity (or ready way to build one) – No marketable sector “clusters” exist in the County – Weak alliance with London, which dominates in image, staff, budget – Weak regional ED (in current set up) – Part-time ED staff
FDI Strategy
Ticknor/Hochstein
8 JULY 26, 2011 Page 8 of 22 5 a - CC
– Being reactive limits ED potential – Being too dominated by residential development
– Employment-Based Land Absorption Analysis – Encouraging BR&E – Leveraging regional partnerships (with SW Ontario) – Better marketing fundamentals – Facilitating investor Requests for Information – Facilitating outside investor visits
FDI Strategy
Ticknor/Hochstein
9 JULY 26, 2011 Page 9 of 22 5 a - CC
– Supports County-wide initiatives – Enables economies of scale
– Local jurisdiction buy-in, trust – Recognition that rising tide raises all boats
FDI Strategy
Ticknor/Hochstein
10 JULY 26, 2011 Page 10 of 22 5 a - CC
FDI Strategy
Ticknor/Hochstein
11 JULY 26, 2011 Page 11 of 22 5 a - CC
– Relationships with government influencers with market access – Participate in, and support, initiatives of regional partnerships
FDI Strategy
Ticknor/Hochstein
12 JULY 26, 2011 Page 12 of 22 5 a - CC
A. Deepen ED Staff
– Increase ED Manager time – ED professional training for ED & Planning Coordinator – Consider adding agricultural sector specialist
B. Build from Existing Employer Base (BR&E)
– Template for relationship building w/ key basic sector employers (top 20)
– Integrate into marketing
– Investigate whether to add agricultural specialist
C. Capitalize on 2011 Initiatives
– EMOWP&DB Workforce Strategy
Improves prospects for domestic investment and foreign.
FDI Strategy
Ticknor/Hochstein
13 JULY 26, 2011 Page 13 of 22 5 a - CC
– Visit nearby Consulates General of Canada and maintain contact – Host Familiarization tours, personal visits, and other direct contacts in Middlesex County – Educate, inform and encourage intermediaries to identify and share viable opportunities with Middlesex County
FDI Strategy
Ticknor/Hochstein
14 JULY 26, 2011 Page 14 of 22 5 a - CC
– Build stronger relationships with London EDC – Utilize SWEA
– Strategies to leverage regional partnerships
– Sector programs offer targeted exposure & support
FDI Strategy
Ticknor/Hochstein
15 JULY 26, 2011 Page 15 of 22 5 a - CC
– Mapping and interactive search – More accessible major employer information – Better functionality around shovel-ready properties – Link to workforce info – More substance to top ten reasons –add supporting links/pages – Indication of Canadian health care advantages vs. US
– RFI
FDI Strategy
Ticknor/Hochstein
16 JULY 26, 2011 Page 16 of 22 5 a - CC
– Prospect Visitation Excellence
– Feature shovel-ready sites – Virtual permitting – ED and Planning advocacy/guidance
FDI Strategy
Ticknor/Hochstein
17 JULY 26, 2011 Page 17 of 22 5 a - CC
FDI Strategy
Ticknor/Hochstein
18 JULY 26, 2011 Page 18 of 22 5 a - CC
2012 2013 2014 Foundations
$15,000 $5,000 $4,000 $18,000 $4,000 $4,500 $21,500 $4,000 $5,000 Proactive Marketing
Detroit, Buffalo, Boston (Chicago in 2011) New York, Dallas, Atlanta Host intermediaries
SWEA missions (+ Strategy share in 2012) OMAFRA, Food Corridor London Joint Initiatives $4,000 $14,500 $3,000 $6,000 $8,000 $10,000 $3,500 $4,000 $4,500 $8,000 $11,000 $5,500 $5,000 Customer Service Excellence
$20,000 $6,500 TBD $10,000 $8,500 TBD $15,000 $10,500 TBD Total Budget Initiatives $72,000 $76,500 $90,000
JULY 26, 2011 Page 19 of 22 5 a - CC
– Personal Contacts with Influencers – Inquiries Received from International Prospects/Intermediaries – Total Inquiries Received – Number of New and Existing Investor Contacts – Proposals Requested – Proposals Delivered – Time from Request to Delivery of Proposal (Days) – Site Visits Made – Investments Made (# of companies, # of jobs created, $ invested)
FDI Strategy
Ticknor/Hochstein
20 JULY 26, 2011 Page 20 of 22 5 a - CC
– Sufficient county staff – County funding leadership
– Website excellence – Consistently answered phone – Ability to communicate while abroad – Ability to turn RFI info on same day
– To build relationships – To learn and adjust
FDI Strategy
Ticknor/Hochstein
21 JULY 26, 2011 Page 21 of 22 5 a - CC
JULY 26, 2011 Page 22 of 22 5 a - CC