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					           New England Economic
          Development Cooperation:
             “The Power of Six”
                        Southern New England
                          Economic Summit
                        Foxwoods / Ledyard, Conn.
                             May 14, 2004


  Douglas G. Fisher                                   David C. Driver
 Director, Economic &                               Managing Director -
Business Development                                Regional Development
                                 Inaugural Efforts . . .

 Build upon the unique New England “brand”
    Recognize that economies are regional, not political

 Benefit cash-poor states by pooling resources

 Multi-state business recruitment missions overseas

 Extend “Discover New England” tourism initiative

 Outreach to real estate executives / site consultants
    Since 1999, events in Boston, New York, Dallas, San Diego,
     and Atlanta (Chicago & San Antonio upcoming)

 Comprehensive national (and international) surveys on
  outsiders’ perceptions of region
                                      The NU-NEC
                                       Partnership

 Initiative requires neutral, interstate facilitators
    Lend legitimacy to regional collaborative
    Build trust among six highly-competitive states
    Present “private sector” face to outside prospects

 Northeast Utilities – New England’s largest utility
    Business success tied to region’s economic performance
    Long-standing economic development player

 New England Council – region’s business policy voice
    Advocate and private sector convenor

 Recognition that successful economies are regional
                                        2003-04 Activities

• Exhibits at 15 trade shows (real estate, industry)

• Visits to 30 principals of national site selection consulting firms

• Direct contact with 250 corporate real estate and other execs
  in industries important to New England

• Limited lead sharing among states

• 20-foot “Team New England” exhibit booth

• New, all-New England collateral

• “Discover New England for Business” web site
                             Real Estate
                              Summit - Atlanta
• Quality attendance at
  VIP event (from Intel to
  Martin Marietta)
• “Segway” partnership
  with CoreNet Global,
  organizers of world’s
  largest gathering of
  corporate real estate
  executives and site
  selection consultants
  (3,000 +)
                          2004 Work Plan




• Trade shows / “lead” generation
• Targeted Industry Studies
 (e.g. medical devices)
• Upgraded “Discover New England” web
  site presence
• Bring site selectors to New England
• VIP real estate event (San Antonio)
                              The New England
                                Survey Project

What we wanted to know …
• Is there, in fact, a New England brand? Is it
  positive or negative?
• How is New England perceived by people and
  companies outside of the region?
• How do these perceptions square with New
  Englanders perceptions of themselves?
• What are the region’s chief strengths and
  primary weak spots?
                                       The New England
                                         Survey Project

Sponsoring Organizations
Discover New England – all 6 state tourism offices
Yankee Magazine * Blue Cross / Blue Shield
Liberty Mutual * Savings Bank Life Insurance
Michael Gallis & Associates * Northeast Utilities
Central Vermont Power * Maine & Co.
Public Service Co. of New Hampshire
Massachusetts Alliance for Economic Development
Connecticut Economic Resource Center
Pioneer Valley Planning Commission
NH Department of Resources & Economic Development
The New England Council
                               The New England
                                 Survey Project


The Surveys’ Nuts and Bolts

Conducted by UConn Center for Survey and Research
    Analysis
Telephone, December 2003 to March 2004
   1. General population/tourism (1,000)
   2. Domestic business executives (400)
   3. International business executives (50)
   4. National site selection consultants (50)
                                              The New England
                                                Survey Project
New England’s Overall Ratings
(scale of 1-10)

   New England as a region ranked higher across the
   board than any individual state in the region.

As a place to do business …
   Corporate Execs ranked the individual states within 0.56

As a place to live and work …
   Corporate Execs ranked New England nearly a full point higher than the
   general population; all individual states ranked within 0.61

A place to visit …
   The general population saw more separation between the six states
   relative to tourism, with range within 1.12
                                            The New England
                                              Survey Project

Factors Affecting Regional Business Development
Importance vs. Performance of 23 indicators
• Of the TOP FIVE FACTORS identified by executives -– taxes,
  health care costs, quality infrastructure, government regulations
  and cost of land and sites – not one finished above average in
  regional performance, with most ranked below average by two-
  thirds of respondents.

• The region’s LOWEST PERFORMERS -- available land for
  development (9%) and incentives (7%)

• Factors with the LOWEST IMPORTANCE -- racial diversity,
  access to technical schools, cultural and recreational opportunities
                                      Region’s “Burning
                                         Platform”

 Lackluster economy & fading image
    Manufacturing drain (domestic and global)
    New businesses looking elsewhere (Southeast, West, etc.)
    Old and cold

 Reluctance to promote itself
    Traditional Yankee arrogance – “Boston Is Mecca”
    Resistance to development
    Promotion expenses modest and “first to go”

 State government budget crises
    Tax climates counter to marketing messages
                                  The New England
                                    Survey Project



Next Steps
• Debrief / fully analyze survey data
• Disseminate to opinion leaders, analysts
• Inform marketing and policy initiatives

Information: Doug Fisher, 860-665-5105
             Dave Driver, 860-665-6312

				
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