Recruiting Companies to Missouri A Look Behind the Scenes 51 st - - PowerPoint PPT Presentation
Recruiting Companies to Missouri A Look Behind the Scenes 51 st Annual Missouri Community Betterment Conference October 20, 2014 What is the Missouri Partnership? Marketing and sales organization Missouri as the product
51st Annual Missouri Community Betterment Conference October 20, 2014
■ Marketing and sales organization ■ Missouri as the “product” ■ Established in late 2007 as 501c(6) NFP ■ Offices in St. Louis and Kansas City ■ 12-person staff ■ 12-person statewide Board of Directors
What is the Missouri Partnership?
What is economic development?
What is economic development?
Where does the Missouri Partnership fit in?
Our team – Business Recruitment
Subash Alias Vice President Business Recruitment Clint O’Neal Vice President Business Recruitment Deborah Price Vice President Business Recruitment Dennis Pruitt Vice President International Business Recruitment Cara Weber Business Recruitment Coordinator Janelle Higgins Business Recruitment Coordinator
Our team – Marketing
Marion During Marketing Specialist Leah Hill Research and Digital Marketing Manager Amy Monahan Marketing Specialist Erin Pettit Marketing Events Coordinator
Our team – Administration
Christopher Chung President and CEO Lana Payton Administrative Manager
Our deliverables Marketing
Elevate Missouri’s profile and image
Sales
Consummate business recruitment wins
Business Development
Generate
compete
■ A source of new investment deals for which local communities can compete ■ A supporting resource on deals that local communities have “sourced” ■ A partner in cooperative marketing activities including advertising, events, and decision- maker outreach ■ A facilitator of capacity building
Our value proposition
■ Raise awareness and influence perceptions ■ Develop and leverage buy-side relationships ■ Contribute to product improvement and readiness
Our strategy – Marketing
■ Provide impeccable customer service ■ Assemble the right team, every time ■ Service after the sale
Our strategy – Recruitment
Our results
New corporate facilities recruited to Missouri
New jobs recruited to Missouri
New annual payroll recruited to Missouri
New capital investment recruited to Missouri
Since 2010…
*Based on company commitments at time of announcement as of July 31, 2014. Actual results may exceed or fall below stated commitments.
Our results
Case Studies
How did these deals come in? What were these companies looking for? What were the key decision factors? Where did Missouri excel and where can we improve?
Case Studies
What matters to companies?
What matters to companies?
Source: Area Development 28th Annual Corporate Survey (2014)
2012 2013 2014 Availability of skilled labor 2nd (tie) 3rd 1st Highway accessibility 1st 2nd 2nd Labor costs 2nd (tie) 1st 3rd Real estate costs 5th (tie) 5th 4th Available ICT services 13th 4th 5th
What matters to companies?
Source: Area Development 28th Annual Corporate Survey (2014)
2012 2013 2014 Available existing buildings 15th 8th 6th Corporate tax rate 4th 7th 7th State & local incentives 5th (tied) 13th (tied) 8th Labor climate 10th 10th 9th Energy availability & costs 7th 6th 10th
■ How long are decisions taking? ■ What factors are causing Missouri…
– To not be considered in the first place? – To be eliminated from consideration early in the process? – To be eliminated from consideration late in the process?
Roadblocks to success
■ Consistent involvement by third-party advisors and consultants in investment decision-making/site-selection process ■ Consistent level of activity of FDI ■ Demand for existing buildings
– Roughly 75 percent of industrial site searches require an existing building – 80,000 SF median / 155,000 SF average size
Notable trends
■ Support your local economic development efforts ■ Be ambitious but practical in your expectations
■ Understand your product’s strengths and shortcomings ■ Prepare, prepare, prepare ■ Be an ambassador for Missouri’s advantages
We’re counting on you to…
Why Missouri?
Top 10 State for Doing Business Top 10 Best Regulatory Climate Top 10 Best Corporate Tax System
Pollina Corporate Real Estate, 2014 Forbes, 2013 Tax Foundation, 2014
Top 10 State for Technology Job Growth in 2012 and 2013
Bureau of Labor Statistics, Tech America Foundation 2012-2013
Top 10 Best Property Tax Index
Tax Foundation, 2014
AAA Bond Rating for 25 Years
Moody’s / S&P / Fitch, 2013
“Most Aggressive” Incentives
CBRE Economic Incentives Group
5th-Most Diverse Economy in U.S.
Bureau of Economic Analysis
“Most Improved” Ranking
CEO magazine, 2014
Top 10 for Low Fuel taxes
Business climate comparison
*Missouri allows 50% of federal income tax payments to be deducted before computing taxable income, leading to an effective tax rate of 5.2%
Business climate comparison
Recent Accolades
1st in the North West Central Region for New Facilities and Expansions Governor’s Cup Award
Regional Competitors: NE, KS, IA, SD, ND, MN
Golden Shovel Award
States with 5-8 million population. Silver Shovel Award Winners: Indiana, Tennessee, Arizona
Clint O’Neal – VP, Business Recruitment Deborah Price – VP, Business Recruitment Missouri Partnership (816) 725-0949 www.MissouriPartnership.com