Recruiting Companies to Missouri – A Look Behind the Scenes 51 st Annual Missouri Community Betterment Conference October 20, 2014
What is the Missouri Partnership? ■ Marketing and sales organization ■ Missouri as the “product” ■ Established in late 2007 as 501c(6) NFP ■ Offices in St. Louis and Kansas City ■ 12-person staff ■ 12-person statewide Board of Directors
What is economic development? What is economic development?
Where does the Missouri Partnership fit in?
Our team – Business Recruitment Cara Weber Janelle Subash Alias Dennis Pruitt Clint O’Neal Deborah Higgins Price Business Vice Vice Vice Recruitment Business President President President Vice Coordinator Recruitment President Coordinator Business International Business Recruitment Business Recruitment Business Recruitment Recruitment
Our team – Marketing Erin Pettit Marion During Amy Monahan Leah Hill Marketing Marketing Research and Marketing Events Specialist Digital Specialist Coordinator Marketing Manager
Our team – Administration Christopher Chung Lana Payton President and CEO Administrative Manager
Our deliverables Marketing Business Sales Development Elevate Generate Consummate Missouri’s profile opportunities to business and image compete recruitment wins
Our value proposition ■ A source of new investment deals for which local communities can compete ■ A supporting resource on deals that local communities have “sourced” ■ A partner in cooperative marketing activities including advertising, events, and decision- maker outreach ■ A facilitator of capacity building
Our strategy
Our strategy – Marketing ■ Raise awareness and influence perceptions ■ Develop and leverage buy-side relationships ■ Contribute to product improvement and readiness
Our strategy – Recruitment ■ Provide impeccable customer service ■ Assemble the right team, every time ■ Service after the sale
Our results 9,613 Since 2010… 71 New corporate facilities recruited to Missouri New jobs recruited to Missouri $434 MM New annual payroll recruited to Missouri $1.05 BB *Based on company commitments at time of announcement as of July 31, 2014. Actual results may exceed or fall below stated commitments. New capital investment recruited to Missouri
Our results
Case Studies
Case Studies How did these deals come in? What were these companies looking for? What were the key decision factors? Where did Missouri excel and where can we improve?
What matters to companies?
What matters to companies? 2012 2013 2014 Availability of skilled labor 2 nd (tie) 3 rd 1 st Highway accessibility 1 st 2 nd 2 nd Labor costs 2 nd (tie) 1 st 3 rd Real estate costs 5 th (tie) 5 th 4 th Available ICT services 13 th 4 th 5 th Source: Area Development 28 th Annual Corporate Survey (2014)
What matters to companies? 2012 2013 2014 Available existing buildings 15 th 8 th 6 th Corporate tax rate 4 th 7 th 7 th 5 th 13 th State & local incentives 8 th (tied) (tied) Labor climate 10 th 10 th 9 th Energy availability & costs 7 th 6 th 10 th Source: Area Development 28 th Annual Corporate Survey (2014)
Roadblocks to success ■ How long are decisions taking? ■ What factors are causing Missouri… – To not be considered in the first place? – To be eliminated from consideration early in the process? – To be eliminated from consideration late in the process?
Notable trends ■ Consistent involvement by third-party advisors and consultants in investment decision-making/site-selection process ■ Consistent level of activity of FDI ■ Demand for existing buildings – Roughly 75 percent of industrial site searches require an existing building – 80,000 SF median / 155,000 SF average size
We’re counting on you to… ■ Support your local economic development efforts ■ Be ambitious but practical in your expectations of results ■ Understand your product’s strengths and shortcomings ■ Prepare, prepare, prepare ■ Be an ambassador for Missouri’s advantages
Why Missouri? Top 10 State for Doing Business Top 10 Best Regulatory Climate Pollina Corporate Real Estate, 2014 Forbes, 2013 Top 10 Best Corporate Tax System Tax Foundation, 2014 Top 10 for Low Fuel taxes 5 th -Most Diverse Economy in U.S. Bureau of Economic Analysis Top 10 State for Technology Job Growth in 2012 and 2013 “Most Improved” Ranking Bureau of Labor Statistics, Tech America Foundation 2012-2013 CEO magazine, 2014 Top 10 Best Property Tax Index AAA Bond Rating for 25 Tax Foundation, 2014 Years “Most Aggressive” Incentives Moody’s / S&P / Fitch, 2013 CBRE Economic Incentives Group
Business climate comparison *Missouri allows 50% of federal income tax payments to be deducted before computing taxable income, leading to an effective tax rate of 5.2%
Business climate comparison
Recent Accolades 1 st in the North West Central Region for New Facilities and Expansions Governor’s Cup Award -Site Selection Magazine, 2013 Regional Competitors: NE, KS, IA, SD, ND, MN Golden Shovel Award -Area Development, 2013 States with 5-8 million population. Silver Shovel Award Winners: Indiana, Tennessee, Arizona
Clint O’Neal – VP, Business Recruitment Deborah Price – VP, Business Recruitment Missouri Partnership (816) 725-0949 www.MissouriPartnership.com
Recommend
More recommend
