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Economic Development Consulting

The Challenge

  • A Midwest metro area had become dependent on the aerospace industry as its dominant economic base for the community.
  • The community lacked any economic diversification plan to protect it from the cyclical nature of the aerospace industry.
  • Needed to develop a strategy to attract other industries to the community.

 

The Solution

  • Retained Site Selection Group to develop a marketing strategy aimed at diversifying the industry base of the community.
  • Completed a comprehensive assessment of the region to understand the strengths and weaknesses of the region based on labor, infrastructure, real estate and economic incentives.
  • Completed a target industry analysis to determine what industries were best aligned with the resources of the region and the overall vision of the city leaders. 

The Result

  • Identified four target industries the region should attract for economic diversification.
  • Provided detailed industry intelligence reports outlining companies to target, how to reach the companies and what resources the region has to offer them.
  • Recommended key action items to improve the region's resources and become more competitive in the pursuit of the target industries.

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