GREATER AKRON. bigger. bolder. better Chuck Jones, President, Firstenergy, Chairman of the Board, The Greater Akron Chamber

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Elaine Nichols
5 years ago
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strategic partners have accomplished big things.

Greater Akron Chamber ADVANCE GREATER AKRON bigger. bolder.

1 Accelerate GREATER Akron. The Greater Akron Chamber, its members, investors and all its strategic partners have accomplished big things. Now we ARE ready to turn the corner with greater energy, into more rapid progress. - Chuck Jones, President, Firstenergy, Chairman of the Board, The Greater Akron Chamber ADVANCE GREATER AKRON bigger. bolder. better One Cascade Plaza, 17th Floor Akron, Ohio All photos except p. 11, bottom right, by Bruce Ford Photography.

No one can go it alone. Doing business in GREATER Akron means investing in the work of the Chamber.

Because the Greater Akron region (Medina, Portage and Summit counties) is seeing its most transformational period in decades. Why?

Because the Greater Akron Chamber is a leader in regional and local economic development, hugely respected among our peers. Why?

Because the Midwestern city is becoming a Place to Be for young professionals.

After six months of extensive analysis, our comprehensive Strategic Economic Development Plan builds on achievements and sets audacious goals. We invite you to participate.

3 No one can go it alone. Doing business in GREATER Akron means investing in the work of the Chamber. - Tom STRAUSS, president & CEO, Summa health system Momentum belongs to those who can run. Energy is all. all of us together. Why? Because the Greater Akron region (Medina, Portage and Summit counties) is seeing its most transformational period in decades. Why? Because the coming era will be one of huge opportunity, with potential for growth, human development, image, physical improvements, enhanced value, increased capacity. Why? Because the Greater Akron Chamber is a leader in regional and local economic development, hugely respected among our peers. Why? Because both historic and new institutions universities, biomedicine, urban champions, STEM education, arts, parks and culture are changing our attitudes about ourselves. Why? Because the Midwestern city is becoming a Place to Be for young professionals. The Greater Akron Chamber has completed an ambitious program for the betterment of the Greater Akron region and increased opportunity for all. After six months of extensive analysis, our comprehensive Strategic Economic Development Plan builds on achievements and sets audacious goals. We invite you to participate. Be one of our high-level investors. help move us forward. CO-CHAIRS, ADVANCE GREATER AKRON Anthony J. Alexander President & CEO, FirstEnergy Corporation Joseph S. Kanfer Chairman & CEO, GOJO Industries Inc. Richard J. Kramer Chairman, President & CEO, The Goodyear Tire & Rubber Co. 4 ADVANCE GREATER AKRON FACT: 53 economic development projects created 3,219 jobs and produced over $1, million in capital investment. FACT: 1,517 business retention and expansion visits, offering business assistance services in Summit, Portage and Medina counties. 5

Our Vision: A high quality of life for all citizens of the Greater Akron Region Achieving this vision requires a vibrant and sustainable economy supported by leadership from business, government, and

4 Our Vision: A high quality of life for all citizens of the Greater Akron Region Achieving this vision requires a vibrant and sustainable economy supported by leadership from business, government, and education. In support of this vision, our mission is to drive economic development and enhance prosperity for the citizens and businesses of the Greater Akron region. Business development creates a better quality of life for everyone. Talent, Innovation and Leadership will drive the next era of Greater Akron success. The Greater Akron Chamber Strategic Economic Development Plan resulted from six months of extensive analysis. The process included leadership assessment, analysis of major economic opportunities and other critical issues, and interviews, meetings and working sessions with over 125 leaders of the Greater Akron region. WE WILL INVEST in: Talent Education Connectivity Strengthen our schools to ensure students are prepared, succeed academically, graduate from college, and enter a career. Demand-Side Training Align employers needs with our partner organizations focusing on workforce development. Talent Marketing Develop a comprehensive talent attraction and retention strategy for the Akron metro area. Downtown Vitality Transition our urban core into a safe, clean and vibrant downtown with high-value employment, affordable residential living, dining, entertainment and culture. Innovation Akron Metro Marketing Sell the strengths of Greater Akron to businesses outside the region. Increase Retention and Expansion Actively increase support for existing businesses to ensure they stay here. Assist with expansion opportunities. regional places of opportunity Partner in the creation of mixed environments with housing, commercial and office development in Summit, Portage and Medina counties. Accelerate Innovation Centers Extend the impact of Austen BioInnovation Institute in Akron, Akron BioMedical Corridor and innovation centers focused on biotech, life science and healthcare industries. Build Emerging Business Support high growth businesses by helping entrepreneurs to thrive. Leadership CEO Engagement Build a senior leadership sustainability blueprint to assure new CEOs are properly equipped to embrace leadership positions in organizations such as Akron Tomorrow and the Chamber Board. Next Generation Leadership Engage Greater Akron s emerging business leadership on issues important to supporting the Chamber s mission and regional progress. Core Business Value Enhance value for our members by helping them achieve operational and financial competitiveness. Increase membership to Regionalism Continue our commitment to the regional economic competitiveness strategy for Northeast Ohio. 6 ADVANCE GREATER AKRON FACT: Greater Akron Chamber regularly hosts business delegations from around the world. ADVANCE GREATER AKRON FACT: Advocated for continued investment at the State & Federal levels for economic development. 7

our biggest drivers of success, our major opportunities The power of six: What s new? You know about our six priorities through Advance Greater Akron. Do you know what s new?

Akron metro partners. Strengthen partnerships across Medina, Portage and Summit counties. Austen BioInnovation Institute in Akron. Build talent and technologies. Create industries.

5 our biggest drivers of success, our major opportunities The power of six: What s new? You know about our six priorities through Advance Greater Akron. Do you know what s new? The following selected objectives have been enhanced or introduced to make sure we are future oriented and dynamic in our efforts. Biomedical Corridor. Impact business attraction & expansion. Akron metro partners. Strengthen partnerships across Medina, Portage and Summit counties. Austen BioInnovation Institute in Akron. Build talent and technologies. Create industries. University Park Alliance. Unique. Positive. Akron-centric. Downtown Redevelopment. How Downtown will grow up. Summit Education Initiative. SEI, the support of educational excellence. Engaging Senior CEOs. Experienced and ready to lead. Developing Next Generation Leaders. Bringing up the next wave of brilliance. neo collaboration. We are the centerpiece of a powerful 18-county region. Our strategy is focused on attracting new businesses, keeping the ones that are here and retaining our talent, with a focus on young professionals. We also will invest where it makes sense. The key now is executing this strategy. - Virginia albanese, president & Ceo, Fedex custom critical, immediate past chair, greater akron chamber Grow Greater Akron: strengthen our economy, retain and attract businesses and talent 1 3 New objective: Create opportunities and support structures for high-growth emerging businesses and entrepreneurs to thrive and attain self-sufficiency. Enhanced objective: Actively work to support existing businesses to ensure they stay in the community. Assist with expansion opportunities. Enhanced objective: Attract target business sectors including polymers, liquid crystals, advanced energy, biomedical, instruments, controls and electronics, logistics. Focus on R&D to create additional jobs, diversify the economy. 2 Invest in Human Capital: build a well prepared, competitive workforce New objective: Strengthen Summit County s P-16 schools to ensure students are ready to succeed academically and graduate from college. Promote Greater Akron: tell our story internally and externally New objective: Develop and implement a talent attraction and retention marketing strategy. Enhanced objective: Develop and implement a targeted marketing/pr campaign in collaboration with our Akron Metro economic development partners. 4 Revitalize our physical assets Enhanced objective: Partner in the assessment and support of the best ways to build premier research and innovation centers. 5 Enhance value for our core businesses Deliver enhancements to membership benefits to increase our members return on investment. 6 Create the capacity to succeed New objective: Identify and cultivate next generation leaders: individuals with the strongest potential to assure a seamless transition of Greater Akron s critical issues. 8 FACT: 406,718 website visits by businesses, individuals, consultants, and others looking to gain information & knowledge in our market. ADVANCE GREATER AKRON FACT: The Chamber partners with economic development organizations in the three counties for business retention & expansion. 9

New goal for 2014-2018: $2+ billion in new capital investment. 4.

6 What s it to you? The leaders of our community know what drives this market. We hope you will accept your role as that kind of leader. THis is your time. Talent, Innovation & Leadership how will we measure success? 1. Our goal was $1 billion in new capital investment. 2. We exceeded $1 billion by the end of New goal for : $2+ billion in new capital investment. 4. Benchmark community measurements Jobs & capital investment Per capita income Gross regional product Educational attainment What will it take to get there? Our strategic plan will require $4.3 million in annual investment. We will raise the funding needed by continuing to grow the Chamber s overall membership and by seeking five-year funding commitments. leveraging your investment For every dollar invested in the Greater Akron Chamber, we realize a return of almost 9:1 of new capital investment in our region. Your company will receive valuable member benefits when you invest in our shared success. In addition to all the benefits of basic and business membership, investor-level members receive: Six exclusive investor-only events Eligibility for Nomination to the Board Premium membership listing chairman s reception at the Annual Meeting Engraved plaque for your office Recognition in the Chamber lobby Taking your place with the leaders of our region. 10 ADVANCE GREATER AKRON FACT: The Akron BioMedical Corridor is expected to create 3,000 jobs over the next five years. FACT: The University of Akron, Kent State University, Hiram College and Northeast Ohio Medical University enhance economic competitiveness. 11

Case: Building on Economic Assets in Akron, Ohio after the Decline of the Tire Industry 1

Case: Building on Economic Assets in Akron, Ohio after the Decline of the Tire Industry 1 COMMUNITY PROFILE Once known as the rubber capital of the world, Akron has had to reinvent its economic base and