A BlueprinT for suCCess - A MAster PlAn for econoMic redeveloPMent pot

A MASTER PLAN FOR ECONOMIC REDEVELOPMENT
EXECUTIVE SUMMARY
|
AUGUST 31, 2011
ECONOMIC DEVELOPMENT COALTION OF SOUTHWEST INDIANA
Table of Contents
Introduction and Methodology 5
Objectives 6
Approach 7
Optimal Industry Targets 9
Target Industry Metrics 12
Observations and Recommendations 15
Product Marketing 16
Product Improvement 18
Organizational 24
Regional Economic Development Metrics 26
Conclusion 29
Board of Directors 30
Sta 31
A MASTER PLAN FOR ECONOMIC REDEVELOPMENT
A BLUEPRINT FOR SUCCESS
EXECUTIVE SUMMARY
|
AUGUST 31, 2011
ECONOMIC DEVELOPMENT COALTION OF SOUTHWEST INDIANA
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
4
40
64
70

74
57
69
71
75
75
65
41
90
24
69
Chicago
Indianapolis
Louisville
Evansville
Nashville
Chattanooga
St. Louis
Cincinnati
INDIANA
ILLINOIS
KENTUCKY
OHIO
TENNESSEE
0 20 40 60 80 100 Miles
0 20 40 60 80 100 KM
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5
The Economic Development Coalition
of Southwest Indiana (EDC) retained

a team led by Garner Economics, LLC
in late January of 2011 to develop
a master plan for utilization of the
former Whirlpool manufacturing
site in Evansville, Indiana as a new
design and innovation technology
park along with other potential
educational and commercial
uses. In April 2011, Whirlpool
Corporation formally backed away
from the agreement with the
community to acquire the site when
it sold the property to a Southwest
Indiana developer. Though the
company cited better control of
redevelopment as the ocial reason
for the change, the issues that arose
from the plant closure remained the
same. Following the sale of the
former Whirlpool property, Garner
Economics was instructed to proceed
with reviewing alternative sites
for development with the primary
focus for the analysis following
the same criteria as proposed in
the original grant application to
the U. S. Economic Development
Administration.
Introduction and Methodology
The scope of services included

analyzing the regional economy,
conducting an assets and challenges
assessment of the region from the
eyes of a site location consultant,
recommending industry clusters and
targets suitable for the region based
on the research and analysis, and
providing a set of implementable
recommendations that the
stakeholders in the region can utilize
to enhance the economic well-being
of Southwest Indiana.
The approach began with the
consultant team conducting an
Assets and Challenges Assessment
of the region. Many of the same
criteria that site consultants use
for corporate clients to evaluate
communities for possible new
investment were used for this
assessment. The assessment was
both an objective and subjective
evaluation of the community from
the eyes of a site location consultant.
The Assets and Challenges
Assessment allows for documenting
what problems exist in the region
that are barriers for successfully
achieving the vision of its leadership.
THE ASSETS AND CHALLENGES ASSESSMENT ALLOWS

FOR DOCUMENTING WHAT PROBLEMS EXIST IN THE
REGION THAT ARE BARRIERS FOR SUCCESSFULLY
ACHIEVING THE VISION OF ITS LEADERSHIP.
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
6
Identify key strengths to emphasize
in economic development marketing
eorts, and; identify key weaknesses
that may limit investment in the
region so that remediation of these
local challenges may occur.
A multi-day windshield tour was
provided by EDC representatives
to review those items that were
necessary for the consultant team
to evaluate and is outlined in the
full report. This research then
supplemented the economic
analysis conducted to identify the
best possible opportunities for
business targets.
Objectives
The consultant team then conducted
focus groups and interviews with
key stakeholders in the region. This
information provided an insightful
overview of how local businesses
and residents evaluate the business
climate of the area. Eight focus
groups were held over a two-day

period with seventy participants.
Focus group categories included
large employers, small to midsized
employers, elected/government
ocials, entrepreneurs/start-ups,
financing/banking, academia/career
development, and design/engineering.
Sixty-five (65) key demographic
and economic indicators for the
region were evaluated as compared
to state and national trends, as well
as two benchmark communities:
Chattanooga, Tennessee MSA and the
Davenport-Moline-Rock Island, Iowa-
Illinois MSA. These areas both have
or had a high concentration of similar
industry specialization to the Evansville
region, and all three MSA’s have
multiple states in their geography.
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Approach
DISCOVERY
ANALYSIS
CONCLUSIONS
DISCOVERY
ANALYSIS
CONCLUSIONS
Competitive analysis of the region to Chattanooga and Davenport
Stakeholder input on the business climate of the region

Assets and Challenges of the region
Real Estate portfolio analysis
Location Quotient
Shift Share
Industry Specialization
Input/Output Analysis
Economic Impact Analysis
Product Marketing
Product Improvement
Organizational
Competitive analysis of the region to Chattanooga and Davenport
Stakeholder input on the business climate of the region
Assets and Challenges of the region
Real Estate portfolio analysis
Location Quotient
Shift Share
Industry Specialization
Input/Output Analysis
Economic Impact Analysis
Product Marketing
Product Improvement
Organizational
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
8
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9
Optimal industry target selection
is based on the site-specific
characteristics of the Evansville
(regional) economy. Using results

from past studies, the Competitive
Realities Report, Community Assets
and Challenges Assessment, Field
Visits, and the Business Climate
Survey; four industry targets were
chosen that best match the unique
competitive advantages in the
Evansville region to the needs of
particular industry sectors. Each
sector selected has a record of
above-average wages, projected
growth, and participation in
commercial activities that will create
wealth in the region, both in the short
and long term.
Optimal Industry Targets
Prospects are particularly interested
in an established and skilled
workforce, plus the region’s capacity
to supply newly trained workers,
especially among higher-skilled
occupations, so special eorts were
made to link demanded occupations
and training to Southwest Indiana’s
workforce and supply pipeline.
Because economies are dynamic
and impossible to precisely predict,
the four industry target areas
oer opportunities across several
non-competing sectors, aording

a means to diversify economic
development strategies and avoid
risky over-concentration.
FOUR INDUSTRY
TARGETS WERE
CHOSEN THAT BEST
MATCH THE UNIQUE
COMPETITIVE
ADVANTAGES
IN SOUTHWEST
INDIANA
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
10
Plastics
Process Manufacturing
Process Manufacturing targets focus on high value
manufacturing practices, while leveraging Southwest
Indiana’s strong existing manufacturing sector presence.
Process Manufacturing targets are organized into four
main groups: Auto Assembly and Related Assembly
Support, Machinery Manufacturing, Electronics
Product Manufacturing, and Food Processing. Each
group shares some similar workforce demands, but
retains its own unique product demand and outlook
profile. For example, the Auto Assembly and Related
Assembly Support group is a definite area of potential
for the region. The associated industry subsectors are
numerous and diverse, however both the Machinery and
Electronic Product Manufacturing groups may also be
participants in the sector; as well as products from the

Plastics Manufacturing.
The Plastics target recognizes a well-known strength
and area of established industrial specialization in the
Evansville region. As such, the required support structure
for the industry is already in place. The targeting objectives
would be to leverage existing assets, strengthen the supply
chain, and increase the employment base. As industry
clusters grow, so do opportunities for product innovation
and vertical integration, along with respective industry
wages. Innovations in plastics can also be exemplified
by the move towards bio-based products versus fossil
fuel. Southwest Indiana has the necessary industrial
framework to become a leader in plastic technologies.
The local Plastics cluster includes sixty firms and employs
more than 4,700; and, the industry earned the highest
number of mentions for “the best fit for the area” among
participants in the EDC of Southwest Indiana Business
Climate Survey as potential domestic prospects total
nearly 10,000 plastics firms.
• Plastics & Rubber Industry Machinery Manufacturing
• Plastics Material and Resin Manufacturing
• Un-laminated Plastics Prole Shape Manufacturing
• Plastics Pipe & Pipe Fitting Manufacturing
• Urethane and Other Foam Product Manufacturing
• Plastics Bottle Manufacturing
• All Other Plastics Product Manufacturing
Auto Assembly & Related Assembly Support
Machinery Manufacturing
• Mining and Oil and Gas Field Machinery Manufacturing
• Turbine and Turbine Generator Set Units Manufacturing

• Fluid Power Pump and Motor Manufacturing
Electronic Product Manufacturing
• Broadcast and Wireless Communications Equipment
• Electronic Connector Manufacturing
• Industrial Process Variable Instruments Manufacturing
• Other Measuring and Controlling Device Manufacturing
Food Processing
• Dog and Cat Food Manufacturing
• Soybean Processing
• Breakfast Cereal Manufacturing
• Confectionery Manufacturing
• Mixes and Dough Made from Purchased Flour
• Other Snack Food Manufacturing
• Coee and Tea Manufacturing
• Mayonnaise, Dressing, and Sauce Manufacturing
• Spice and Extract Manufacturing
Optimal Industry Targets – continued
Those items highlighted in blue indicate a high priority target for the EDC to pursue.
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Health/Life Sciences
Logistics & Distribution
The Logistics & Distribution target is supported by
Southwest Indiana’s central geographic location, its rich
modes of distribution, and the opportunity to leverage
the rapid transformation (and changing needs for reliable
delivery of services and products) occurring in global
logistics and supply chain management. The Evansville
region is set apart by its wide variety of distribution
means; east/west highway interstate, four rail lines,

commercial airport, and river port access. This position
will improve with the completion of the north/south
Interstate-69. These infrastructural assets and its
central location provide a strong basis to capture firms
that are participating in the fast developing sector of
supply chain management.
The Health/Life Sciences target focuses on three major
areas of opportunity: Health Related Manufacturing,
Clinical Research, and Ag Technology. All of these target
areas comprise sectors found within the more broadly
defined Life Sciences category and have areas of
cross-over. The Health Related Manufacturing emphasis
builds o Southwest Indiana’s existing manufacturing
strengths and existing activity in Pharmaceutical
Preparation Manufacturing (employing nearly 2,000).
Clinical Research leverages the region’s present clinical
activities, and depth of specialized labor expertise; with
current occupation numbering more than 2,000, while
supplied by over 200 annual completions from local
educational institutions. Ag Technology is based on
Southwest Indiana’s unique areas of industrial strength,
coupled with striking educational support from local
and regional institutions.
Health Related Manufacturing
• Medicinal and Botanical Manufacturing
• Pharmaceutical Preparation Manufacturing
• In-vitro Diagnostic Substance Manufacturing
• Other Biological Product Manufacturing
• Optical Instrument and Lens Manufacturing
• Surgical Appliance and Supplies Manufacturing

Clinical Research/Ag Technology
• Research and Development in Biotechnology
• Research and Development in the Physical,
Engineering, and Life Sciences
• Research and Development in the Social Sciences
and Humanities (Clinical Research)
• Medical Laboratories
• Scheduled Passenger Air Transportation (Air Service)
• Nonscheduled Chartered Passenger Air Transportation
(Charter Air Service)
• Rail Transportation
• General Freight Trucking, Long-Distance, Truckload
• General Freight Trucking, Long-Distance, less than
Truckload
• Specialized Freight Trucking, Long-Distance
• Support Activities for Rail Transportation
• Port and Harbor Operations
• Marine Cargo Handling
• Navigational Services to Shipping
• Freight Transportation Arrangement
• General Warehousing and Storage
• Refrigerated Warehousing and Storage
• Process, Physical Distribution, and Logistics
Consulting Services
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
12
Because economies are dynamic and impossible to precisely predict, these four targets oer opportunities across several
non-competing sectors, aording a means to diversify economic development strategies and avoid risky over-concentration.
Though the justification for the targets should be clearly apparent and make sense to the average practitioner, it is important to
specifically track the number of new investment opportunities that occur under each major target sector, as well as addressing

issues critical for that success such as post-secondary graduate and talent retention.
Number of
Qualified Prospects
Target
Cluster Maturity
Conversion
Rate of Prospects
Brand &
Image Summary
High School &
Tech School Graduates
College &
University Graduates
MEASUREMENT
• Number of Visits to Qualied Businesses
MEASUREMENT
• Number of New Direct
• Number of New Indirect
MEASUREMENT
• Percent of Conversion from Prospect to Project
MEASUREMENT
• Tied to Standard Measures Currently being Developed
MEASUREMENT
• Number of Grades per Skill-set – Tied to Target Industry Requirements
MEASUREMENT
• Number of Graduates per Skill-set – Tied to Target Industry Requirements
Target Industry Metrics
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Talent

Retention
Utilization of
Development Programs
Industry &
Educational Alignment
Educational Attainment
Pool of
Knowledge Assets
MEASUREMENT
• Number of In-bound Migration
• Number of Out-bound Migration
MEASUREMENT
• Percent of Programs Used for Workforce Development
MEASUREMENT
• Identify Whether Key Skill Sets are being Fullled by Education System
MEASUREMENT
• Percentage PhD
• Percentage Graduate
• Percentage Undergraduate
• Percentage Associates
MEASUREMENT
• Percent of Transferable Skills to other Industries
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
14
A BLUEPRINT FOR SUCCESS | A MASTER PLAN FOR ECONOMIC REDEVELOPMENT
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Southwest Indiana needs to focus
on several fundamental issues
of economic transition as well as
important internal and external

preparative steps before it can realize
its fullest potential as a dynamic,
regional economic center. The
recommendations below provide the
steps to meet this challenge.
Recommendations for action are
categorized under three areas of
opportunity:
  • Product Marketing
  • Product Improvement
  • Organizational
The “product” is considered the four-
county Southwest Indiana region,
which comprises Gibson, Posey,
Vanderburgh and Warrick Counties
or the EDC’s market area.
Observations and Recommendations
Product marketing is defined as
marketing/promoting or selling
the Southwest Indiana region
worldwide for business development
opportunities and investment.
From these recommendations
will flow a five-year strategic plan
focusing on the three areas of
opportunity. In order for any plan to
succeed, there will need to be a high
level of commitment, collaboration
and communication among the
region’s public and private partners

to ensure clarity of vision and mission
so as to improve the Southwest
Indiana economy.
3
SOUTHWEST
INDIANA NEEDS TO
FOCUS ON SEVERAL
FUNDAMENTAL
ISSUES… BEFORE
IT CAN REALIZE
ITS FULLEST
POTENTIAL AS A
DYNAMIC, REGIONAL
ECONOMIC CENTER.
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
16
Product marketing focuses on selling the region to the world and the specific recommendations made that are listed below are
designed to help achieve that goal. Each recommendation carries with it a value grading system citing the economic impact,
estimated project cost along with the cost to the EDC. In addition, each area of opportunity requires a wholly-integrated action
team comprised of EDC board members, executive committee members and sta coupled with key external target sector or
community members. Specific target sector teams will be crafted to develop strategies addressing each area of opportunity.
Survey the Region
RECOMMENDATION
Conduct a brand identity and image survey of the region.
APPROACH
Interview site location consultants, companies within the targeted industry
recommendations and clusters, and large existing employers.
Brand the Community
RECOMMENDATION
Create a unified brand identity for the region

APPROACH
Agree to a unified regional brand to promote the region’s brand awareness.
Disseminate Cultural Assets
RECOMMENDATION
Development of a marketing piece, both electronically and in print, to convey the
cultural assets of the region and to disseminate it both externally and internally.
APPROACH
Disseminate it both externally (out of market) and internally (within the region)
to convey the area’s assets related to activities.
Product Marketing
HIGH
ECONOMIC IMPACT
MEDIUM
PROJECT COST
MEDIUM
EDC COST
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
HIGH
EDC COST
MEDIUM
ECONOMIC IMPACT
MEDIUM
PROJECT COST
MEDIUM
EDC COST
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Participate in High Value Trade Shows and Trips
RECOMMENDATION
Focus the EDC’s external marketing eorts and trips on the highest value
trade shows and events for each cluster or target.
APPROACH
Utilize external expertise to identify the best of these events to attend.
Enhance Web Positioning
RECOMMENDATION
Enhance the EDC’s already good website to position Southwest Indiana
as a national leader in key clusters.
APPROACH
Enhance the web site by adding the value proposition, noted in the Section on
Clusters, on why these specific clusters are good for the region and its value
proposition, recommendations and clusters, and large existing employers.
Create Targeted Focus Groups
RECOMMENDATION
Establish target industry working groups for each of the four focused targets.
APPROACH
Seek input into the knowledge of other business leaders within these clusters and
industry targets. These business experts can help the EDC craft specific messages
and marketing activities related to the clusters and their related targeted industries.
MEDIUM
ECONOMIC IMPACT
MEDIUM
PROJECT COST
MEDIUM
EDC COST
HIGH
ECONOMIC IMPACT
MEDIUM

PROJECT COST
MEDIUM
EDC COST
HIGH
ECONOMIC IMPACT
LOW
PROJECT COST
LOW
EDC COST
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
18
Product improvement details the requisite infrastructure and business climate required to attract new investment to the region
as well as attract and retain talent. Many of these recommendations will require financial resources and community champions
other than those provided by the EDC, which the EDC will help to identify. Product improvement is critical if our region is to
grow and prosper. Specific target sector teams will be crafted to develop strategies addressing each area of opportunity.
Expand Regional Internet Access
RECOMMENDATION
Encourage local ocials to work with Indiana’s Congressional Delegation
to approve Federal broadband funding to increase regional internet access.
APPROACH
Use Congressional and gubernatorial assistance to enhance the region’s
broadband capabilities.
Install Free Wireless Access
RECOMMENDATION
Install free wireless broadband in the central business district.
APPROACH
Under consideration.
Construct Jetways
RECOMMENDATION
Install jetways for passengers at the Evansville Regional Airport terminal.

APPROACH
Under consideration.
Product Improvement
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
MEDIUM
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
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Create Downtown University Footprint
RECOMMENDATION
Enhance livability with the addition of post secondary education,
USI & UE, classrooms downtown.
APPROACH
Utilize vacant buildings and rehab them for classroom usage.
Enhance Air Service

RECOMMENDATION
Subsidize an airline, i.e. Southwest, to enhance air service.
APPROACH
Develop a sustainable economic development fund.
Beautify Neighborhoods
RECOMMENDATION
Increase community beautification and redevelopment of blighted neighborhoods.
APPROACH
Under consideration.
Collaborate Product Improvement
RECOMMENDATION
Foster synergy by broadening the cluster marketing working groups to
include dialog associated with product improvement.
APPROACH
Under consideration.
MEDIUM
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
HIGH

PROJECT COST
LOW
EDC COST
LOW
ECONOMIC IMPACT
LOW
PROJECT COST
LOW
EDC COST
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
20
Product Improvement – continued
Grow Talent
RECOMMENDATION
Nurture and grow the talent pipelines to support sustainable growth
in the region’s identified clusters.
APPROACH
Under consideration.
Engage Entrepreneurship
RECOMMENDATION
The local economic development organizations, the local Chamber of Commerce;
and ancillary organizations that are involved in economic development such as USI,
UE, OCU, VU, Ivy Tech Community College, and the area K-12 public school systems,
and other groups, should all engage entrepreneurship as a conduit to economic
sustainability for the Southwest Indiana region.
APPROACH
Under consideration.
Expand Early College High School
RECOMMENDATION
Expand the Early College High School initiative in Vanderburgh

and the surrounding counties.
APPROACH
Under consideration.
Build Career Awareness
RECOMMENDATION
Create career awareness of cluster occupations through internships.
APPROACH
Under consideration.
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
MEDIUM
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST

LOW
EDC COST
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Develop Uniform Incentive Policy
RECOMMENDATION
Create a uniform and consistent incentive policy on incentives
for each governmental jurisdiction.
APPROACH
Under consideration.
Create Center for Advanced Coal Technology
RECOMMENDATION
Southwest Indiana should work closely with Purdue University in developing
a center of excellence in advanced coal technology.
APPROACH
Under consideration.
Develop Intermodal Logistics Park
RECOMMENDATION
The EDC and future designated sponsors of the intermodal logistics park
should proceed with the next steps of the park strategy as outlined in the
Wired Taskforce Study, albeit with a phased approach to development and
smaller initial footprint to mitigate costs.
APPROACH
Secure final seed money to acquire land and commence project.
HIGH
ECONOMIC IMPACT
LOW
PROJECT COST
LOW
EDC COST

MEDIUM
ECONOMIC IMPACT
HIGH
PROJECT COST
MEDIUM
EDC COST
LOW
ECONOMIC IMPACT
HIGH
PROJECT COST
HIGH
EDC COST
Target Start-ups
RECOMMENDATION
Position Innovation Pointe and the Whirlpool Facility to facilitate small
business start-ups.
APPROACH
Work with developers to explore development concepts and start-up
target markets for manufacturing.
HIGH
ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
22
Certify Mega Sites
RECOMMENDATION
Certify two mega sites in Southwest Indiana area.

APPROACH
Hire consultant to begin mega site certification.
Create Medical Corridor
RECOMMENDATION
Position Warrick Wellness Trail to attract health related manufacturing
and clinical research.
APPROACH
Provide support to Warrick County on Economic Development Strategy and
help to secure funding for the development of the medical corridor master plan.
Certify Tech Park
RECOMMENDATION
Re-certify North Warrick Industrial Park as a State Certified Technology Park.
APPROACH
Begin work with the State of Indiana to re-certify development
to a Technology Park.
Certify Parks for Plastics and Process Manufacturing
RECOMMENDATION
Maintain Vanderburgh Industrial Park and Warrick County Industrial Park
as State Certified Industrial Parks; position to attract plastics and process
manufacturing companies.
APPROACH
Ongoing marketing of Industrial Parks as part of the Economic
Development Strategy.
MEDIUM
ECONOMIC IMPACT
HIGH
PROJECT COST
HIGH
EDC COST
MEDIUM

ECONOMIC IMPACT
HIGH
PROJECT COST
LOW
EDC COST
HIGH
ECONOMIC IMPACT
MEDIUM
PROJECT COST
MEDIUM
EDC COST
MEDIUM
ECONOMIC IMPACT
LOW
PROJECT COST
MEDIUM
EDC COST
Product Improvement – continued
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23
ECONOMIC DEVELOPMENT COALITION OF SOUTHWEST INDIANA
24
The asset-based analysis also made specific organizational recommendations regarding stang, budget, governance
and other related items that allow for the eective service delivery of economic development in the region. The
recommendations were also based on comparisons of the EDC with similar regional organizations throughout the country.
The eective execution of the recommendations under Product Marketing and Improvement areas of opportunity is
dependent upon implementation of the Organizational recommendations. Specific target sector teams will be crafted to
develop strategies addressing each area of opportunity.
Fund Business Development
Recommendation

The EDC needs to devote more financial resources to its business
development functions.
Approach
Modify the budget to allow for additional funds for business
development marketing.
Add Position of Business Development
Recommendation
Add position of Vice President of Business Development.
Approach
Use an executive search firm to find the ideal candidate based
on the budget available.
Hire Research Analyst
Recommendation
The EDC should consider hiring a research analyst for the organization.
Approach
Reallocate resources from community development to research.
Organizational
HIGHEconomic Impact
LOWProject Cost
LOWEDC Cost
HIGHEconomic Impact
HIGHProject Cost
HIGHEDC Cost
MEDIUMEconomic Impact
MEDIUMProject Cost
MEDIUMEDC Cost
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25
Create New Funding Source
Recommendation

The region needs to create a substantial funding source for economic
development that will benefit each county and the EDC region as a whole.
Approach
Under consideration.
Refocus on Core Mission
Recommendation
The EDC needs to focus its resources on its core mission of lead generation.
Approach
LEDO’s and Chambers of Commerce undertake their core responsibility of calling
on their existing employers.
Initiate Capital Campaign
Recommendation
EDC should engage and retain a professional capital campaign solicitor
to do a five-year campaign engaging both the public and private sectors.
Approach
Interview credible firms related to capital solicitation.
Create National Speaker Forum
Recommendation
The EDC should oer quarterly forums of national speakers related
to economic development.
Approach
Oer these forums on a quarterly basis.
HIGHEconomic Impact
HIGHProject Cost
MEDIUMEDC Cost
HIGHEconomic Impact
LOWProject Cost
LOWEDC Cost
HIGHEconomic Impact
MEDIUMProject Cost

HIGHEDC Cost
HIGHEconomic Impact
HIGHProject Cost
HIGHEDC Cost