Laserfiche WebLink
• Janna King- Economic Development Services, Inc. <br /> Whereas Blane/Canada would draft a community based marketing plan, Ms. <br /> King's plan would take a more market oriented approach. Economic sectors <br /> and geographic areas would be analyzed. Target audiences would be <br /> identified as well as approaches for reaching them. Additionally, community <br /> allies, such as media outlets, bankers, and developers, among others, would <br /> be identified and strategies for developing relationships with them would be <br /> outlined. Finally, Ms. King offers plan implementation and support services, <br /> which might eliminate the need to hire a public relations firm. <br /> Ms. King estimated the costs for researching and developing the plan to cost <br /> $2500-$3500. Implementation and support services would run $5000-$7000 <br /> annually. <br /> Terri Carlson - Minnegasco <br /> As you know, Ms. Carlson was formerly employed by Sable Advertising and, <br /> in her current position with Minnegasco, was instrumental in putting <br /> together a marketing plan for Energy City. Her approach to developing a <br /> marketing plan is similar to strategic planning and is a common approach to <br /> marketing by the private sector. <br /> • The basic process is to form a committee and identify the mission, position, <br /> goals, objectives, targets, tactics and timing for our marketing efforts. She <br /> recommends keeping the committee small and hiring a facilitator, perhaps <br /> from an advertising firm such as Shandwick International, who has worked <br /> with communities in the past on similar projects. The estimated cost would <br /> be $5000-$7000. <br /> Conclusions <br /> Based on my research into economic development marketing and discussions <br /> with the above mentioned individuals, it appears that the City already has in <br /> place many of the components critical to conducting an effective marketing <br /> campaign. For example: <br /> • A strong network already exists between city officials, business owners, <br /> community leaders, developers and lenders. <br /> • The EDA and HRA have undergone a SWOT analysis in the <br /> establishment of a strategic plan for economic development, which, <br /> according to Eric Canada lays the foundation for marketing activities. <br /> • A business retention and expansion survey is underway and will be <br /> completed in August. <br /> • Land is available for industrial development and a variety of financing <br /> tools exist. <br />