Economic Development Strategy Where Big Ideas Take Off.

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1 Economic Development Strategy 2014 Where Big Ideas Take Off.

2 2014 Economic Development Strategy Strategic Theme Goals Objectives Estimated Timing Budget Responsible Party PROMOTE Increase external brand awareness concerning competitive advantages of El Segundo: Business quantity & diversity 1. Engage PR / Advertising firm and develop the following: a. Develop brand identity and creative components; End of Q2 14 $100,000* Expansion & development opportunities Skilled workforce Among best value real estate in region Proximity International airport, interstate mass transit including light rail Intimacy / civic leadership partnership b. Develop story and press angles; and c. Develop advertising and press deployment strategy. 2. Increase brand awareness (press releases, broker / city inquiries, web page impressions). Quality of life 3. Partner with the Chamber to develop an ongoing speaker series or other innovative recurring event 1 events per annum. 1

3 PROMOTE 4. Partner with El Segundo businesses to share / co op press and ads, generating 2 press releases and ads. Proactively increase business relocations to El Segundo 1. Attract at least two new businesses resulting in creation of at least 50 new permanent jobs and a capital investment of at least $5 Million dollars. 2. Aggressively target high technology and creative industry businesses. 3. Facilitate the attraction of at least one new healthcare provider and reduce vacant commercial space through the utilization of the Healthcare Needs Assessment (Buxton Co.). 4. Pursue requisite development firms and hotel operators to construct a new hotel at one of the three opportunity sites through the Hospitality 2

4 PROMOTE Assessment Report (Buxton Co.). 5. Partner with property owners to reduce identified barriers to development/occupation of available sites. 6. Aggressively attract new business through attendance at trade shows and conferences including: / ED Staff a. International Council of Shopping Centers Fall Convention (retail); b. CORENET Global Summit (commercial/office); c. Partner with Team California to attend conferences in manufacturing industries (i.e. medical device manufacturing); d. Local Business Expos; and e. Local and regional conventions/events (i.e. LA Creative Office Summit, SB COG General Assembly). $3,500 $2,500 $7,500 $4,000 $3,000 3

5 PROMOTE 7. Create at least 7 regional print ads (i.e. LABJ) to promote the City through general advertising, advertorials and press releases. 8. Create ads and blasts of new developments through online publications (i.e. Rentv.com). 9. Create recurring print ads in local publications throughout West L.A. 10. Develop and reproduce collateral marketing materials. $30,000 $7,500 $15,000 $4,300 RECRUIT Increase organizational visibility to targeted business industries through awareness by securing national and regional recognition 1. Submit application for the 2014 designation round of the Los Angeles Economic Development Corporation s Most Business Friendly City Award. End of Q Prepare and submit an application for Accredited Economic Development Organization (AEDO) by the International Economic Development Council (IEDC). 4

6 RECRUIT Increase virtual communication effectiveness to business community 1. Update existing website including development of a mobile version for the website. $20,000 30, Develop citywide policy for and implement business development social media campaign including: a. Constant Contact (including quarterly updates that include an online survey instrument) b. Facebook c. Twitter d. MindMixer PARTNER Target and recruit high growth companies by cluster 1. Conduct a cluster analysis of existing companies by NACIS Code (3 year trend). Cross reference emerging companies with the West Los Angeles region to identify creative and technology industries months 2. Determine feasibility to implement a system for measuring and reporting company and employee acquisition and retention months / ED Staff 5

7 PARTNER 3. Develop recruiting outreach plan. Qtr Conduct 30 business visits to existing business base to rapidly assess any potential need for resources to facilitate business expansion and/or retention. 5. Facilitate the expansion of at least two existing businesses, resulting in the creation of 50 new permanent jobs and a capital investment of $2 Million dollars. RETAIN Develop thriving partnership with businesses in El Segundo 1. Develop a Mayor s Economic Development Roundtable and C Suite Series to promote business expansion, retention and attraction efforts: / ED Staff a. Conduct recurring industry specific round tables 1 meetings per annum 2. Research Private / Public partnership best practices for developing business incubation centers. 3. Explore expansion possibilities with the South Bay Entrepreneurial Center for a / ED Staff 6

8 RETAIN business incubation or technology incubation center in El Segundo. Embrace a solution and customer focused approach to partnering with businesses 1. Develop a 360 degree customer service program including paper and online survey instruments (including quarterly surveys) to gauge existing and potential businesses to assess strengths and weaknesses: / ED Staff a. Periodically report results to Economic Development Advisory Council / City Council. INNOVATE Lead Southern California cities in innovative approaches to economic development 1. Focus on the following areas of El Segundo: a. Assist west of Sepulveda merchants with compelling plan; b. Rethink development parameters based on business demand and develop plan; and c. Solidify vision for Smoky Hollow. 7

9 INNOVATE d. Initiate street name change for Sepulveda Blvd to Pacific Coast Highway. i. Make recommendation to City Council. ii. Conduct necessary public outreach including securing a commitment from neighboring community. 2. Engage Public Relations firm to rebrand El Segundo, coin a term similar to Silicon Beach. 3. Identify unattractive areas of the City and formulate strategies to address sites: a. Make recommendation to City Council to address at least one unattractive area of the City based upon compiled findings and analysis; b. Develop a long range plan to address unattractive areas of the City; Q

10 INNOVATE 4. Conduct feasibility study on technology enhancement options for the City (i.e. Wi Fi, web presence, online services, performance management); and 5. Identify and submit applications for relevant grant opportunities to further economic development within El Segundo and the South Bay. Maintain relevance in discipline through professional development of staff 1. Participation in conferences/seminars of reputable economic development associations 9

BUTTE COUNTY REGIONAL ECONOMIC DEVELOPMENT STRATEGY UPDATE

BUTTE COUNTY REGIONAL ECONOMIC DEVELOPMENT STRATEGY 2017-2020 UPDATE Introduction Local economic development is a process by which public, business, and nongovernmental sector partners work collectively