 |
 |
| |
|
Industry Targeting and Prospect Identification
BDA helps communities attract new investment. Business attraction is one of the
core responsibilities of economic development agencies. It is high profile and
high risk. Many organizations perform target industry studies to support their
attraction efforts. Few are fully satisfied with the results.
BDA goes beyond traditional targeting efforts by studying industry needs and
identifying companies that match community goals and location attributes. Other
target industry studies typically leave economic development professionals without
sufficient information to conduct effective marketing efforts. While they have a
list of broad industry targets, they have no guidance on how to identify the best
companies for their location or how to contact them in an effective manner.
BDA works with clients not only to define target industries, but to:
- Identify the most appropriate market segments within those target industries;
- Provide industry information that allows economic developers to speak confidently with executives;
- Establish location- and industry-specific screening criteria to identify potential prospect companies; and
- Prepare company profiles to support calling/contact strategies.
The Bigger Picture
Economic development agencies are often evaluated by the number of new jobs they
bring to a community. However, the ability to expand the business base depends on
dozens of factors beyond the quality of the recruitment effort. BDA works with
communities through strategic planning, competitive assessments, and program and
policy development to enhance the location-specific factors that affect business
growth. We have worked on initiatives ranging from workforce development to real
estate projects. We work with communities throughout these efforts to establish
stakeholder support and implement recommended programs.
|
|
|
|
