pro learning lab - going fishing

Copyright 2003 Whittaker Associates, IncCopyright 2003 Whittaker Associates, Inc

Goin’ Fishin’: The Art and Science of Attracting and Retaining Companies

Presented by:

Dean F. Whittaker


Why Go Fishing in the First Place?

What’s in it for me? What’s in it for the area I represent? Who cares?


What Fishing Gear Do I Need?

Is your community ready? What’s missing? What needs to be done?


What Kind of Fish am I Fishing For?

Selecting targeted industries Community strengths and challenges


What Fish are Biting?

Industry expansion and relocation trends

The cyclical nature of industries


What Causes Fish to Bite?

Internal changes Ownership Leadership

External Changes Business Environment Regulatory Environment


When to Go Fishing?

The cyclical nature of business Timing is everything Economic development longer term

process


Where are the Fish Biting?

New and expanded industry activities

Unique opportunities


Using an Electronic Fish Finder

Monitoring industries and companies

Sources of industry and company information


What Bait to Use?

Incentives Special situations


Beware of Sharks!

Not all companies are desirable Telling the good guys from the bad

guys


Who Should I Take Fishing?

Outside resources Economic development allies Consultants

Internal resources Bankers Librarians Service staff


Once You Have Them on the Hook, You Still Have to Land Them

Say what you will do and do what you say

Keeping commitments Give (and receive) recognition Assimilating newcomers


Keeping the Fish You Have Because They will Grow

The importance of taking care of the companies you already have

Most new jobs come from existing companies expanding

Expanding existing companies puts less demand on infrastructure


It Still Takes Luck to Catch Fish

Luck – preparedness meeting opportunity

Patience


The Fishing Report

Internet Resources CeoExpress.com Search Engines Hoovers.com Google Earth


The Fishing Report (cont.)

Direct Observation Satellite Arial Photography Survey Focus Group Canvas Neighborhood Silent Observer – Reward System Referral System


Further Discussion


Summary

Why we go fishing What gear to take Where to find fish When go fishing Who to take along


Thanks for Goin’ Fishin’

Dean Whittaker

[email protected]

616-396-4500

www.whittakerassociates.com