An Introduction to the Missouri Partnership

Columbia Chamber of Commerce2010 Leadership Retreat

Presented by:Christopher Chung

The Missouri PartnershipApril 29, 2010

Presentation Topics Introduction to the Missouri Partnership How we market our “product” and work

our deals Long-term challenges for Missouri How does Columbia stack up? Questions and answers

About theMissouri Partnership

An Overview of the State’sInvestment Promotion and

Business Recruitment Group

Introduction to theMissouri Partnership

Mission To promote Missouri as a destination for new

business investment To recruit new employers and jobs to Missouri

Structure Public-private non-profit corporation

Governance 12-member Board of Directors from statewide

Size 10 employees – Sales, Marketing, and Admin

Introduction to theMissouri Partnership

What are its key objectives? Why was it created? Who else uses this approach?

Introduction to theMissouri Partnership

What are our key objectives? Deliver the “message” about Missouri’s

positive business attributes Raise awareness and visibility of Missouri and

its advantages as a place to do business Generate investment leads (i.e. “Get Missouri

on the list”) Work with partners to close investment deals

Introduction to theMissouri Partnership

Why was it created? Effectiveness of public-private partnership

model Engagement of private-sector resources Needed consistency in marketing efforts Needed continuity in sales relationships

Introduction to theMissouri Partnership

Who else uses this approach? Florida – Enterprise Florida Alabama – Econ. Dev. Partnership of Alabama Utah – Econ. Dev. Corporation of Utah Ohio – Ohio Business Development Coalition

Marketing Missouri forNew Business Investment

An Overview of How We Market Missouri Around the World

Defining Economic Development

Three principal components of economic development and job creation Retention and expansion of existing industry Entrepreneurial development, technology

commercialization, and small business growth New business recruitment

The Missouri Partnership was formed to address the area of new business recruitment

Marketing forNew Business Investment

Significance of new business recruitment Generates net new job creation and capital

investment (versus intra-state relocation of existing businesses)

Provides new market opportunities for local suppliers of goods and services

Attracts new residents and income base

Success depends heavily on perception and external marketing efforts, similar to winning new “customers”

Marketing forNew Business Investment

Key Stages in the Investment Decision Missouri must win the right to compete

Achieved through marketing/relationships Missouri must win the competition

Achieved through recruitment (sales) effort Missouri must win the repeat competition

Achieved through retention/expansion effort

How Does Missouri Win the “Right to Compete”?

Our Marketing Strategy “Air Campaign”

Build a positive image of Missouri for business Shape perception of Missouri business climate

“Ground Campaign” Develop and manage relationships with

decision-makers and decision-influencers Initiate face-to-face conversation about plans

Ultimate goal is to generate qualified investment leads

How Does Missouri Win the “Right to Compete”?

“Air Campaign” Tactics Advertising Earned media Digital (web, social media, e-news

releases, search-engine optimization) Thought-leadership activities

How Does Missouri Win the “Right to Compete”?

Elements of “Air Campaign” Messaging Features new Missouri brand Focused on relevant industry assets Relies on success stories and corporate

testimonials Highlights improvements to business

climate and positive acknowledgments/rankings for Missouri

Cooperative advertisement with ABC Labs (Columbia)

Cooperative advertisement with ProEnergy (Sedalia)

Cooperative advertisement with AirEvac (West Plains)

Cooperative advertisement with Springfield Remanufacturing (Springfield)

Cooperative advertisement with Boehringer Ingelheim Vetmedica (St. Joseph)

Cooperative advertisement with Handmark (Kansas City)

Cooperative advertisement with Triumph Pharmaceuticals (St. Louis)

Advertisement in North American Wind magazine

Advertisement in 25 of the largest metro business journals in the U.S.

US Airways in-flight magazine advertisement

Advertisement in Next Generation Pharma

Advertisement in Business Xpansion Journal

Advertorial supplement for North American Clean Energy

Advertorial insert for Business Facilities and Pharmaceutical Commerce

Advertorial supplement for Inbound Logistics

Advertorial insert for Site Selection

Earned media in Wall Street

Journal re: state incentive

programs

Earned media in NYTimes.com re: algae-to-biofuels development

in Missouri

Missouri “e-news release” on Missouri 2009 tax climate rankings

Missouri trade show exhibition booth

Missouri trade show exhibition booth at Paris Air Show (2009)

Missouri trade show exhibition booth at China Overseas Investment Fair (2009)

Marketing brochure for wind energy investment in Missouri

Marketing brochure for solar energy investment in Missouri

Marketing brochure for agribusiness investment in Missouri

Missouri incentives collateral piece

How Does Missouri Win the “Right to Compete”?

“Ground Campaign” Tactics Conference sponsorships Tradeshow exhibition presences Decision-maker outreach (e.g. site

selection consultants)

How Does Missouri Win the “Right to Compete”?

Conference Sponsorship Efforts (2010) Industrial Asset Management Council German-American Chamber of Commerce

Wind Energy Business Conference SPEED News Aerospace Conference Midwest-US Japan Association Soy and Natural Foods Conference

How Does Missouri Win the “Right to Compete”?

Tradeshow Exhibition Efforts (2010) CoreNet Global Biotechnology Industry Organization

(BIO) Solar Power International WINDPOWER Expo AFCOM Data Center World

How Does Missouri Win the “Right to Compete”?

Decision-Maker Outreach Efforts (2010) Consultant outreach events

Chicago Greenville, SC New York / New Jersey Los Angeles Cleveland

International trade commissioners and consular offices

How Does Missouri Win the “Right to Compete”?

Our Marketing Partners Missouri Department of Economic

Development Hawthorn Foundation Local and regional economic

development groups Private industry in Missouri (e.g. utility

companies, construction firms)

Our Process for Working Recruitment Deals How we work on business recruitment deals:

“State-sourced” recruitment opportunities Generate leads through marketing and sales

relationships Identify locations in Missouri meeting the

client’s needs Incentive proposals from state and local

communities Ombudsman role for clients

How Does Missouri Win the Competition for Investment?

Our Process for Working Recruitment Deals How we work our business recruitment deals:

“Locally-sourced” recruitment opportunities Represent Missouri at the table with clients Facilitate incentive proposals from state Utilize existing client relationships

How Does Missouri Win the Competition for Investment?

Long-Term Challenges

Product Awareness Raising the visibility of Missouri and its

economic development potential Shaping a positive perception of Missouri as a

place to do business

Product Development Targeting growth industries that complement

Missouri’s advantages

Business climate improvements

How Does Columbia Stack Up?

Product Awareness/Perception Product Development

Things I Love About Columbia

Booche’s, Shakespeare’s, Flat Branch Brewery, Murry’s, Lakota Coffeehouse, Village Wine & Cheese (R.I.P.)

KBIA-FM

True/False Film Festival

The District

Stephens Lake Park

The friendliness of the people

Questions?

Thank You!

Christopher ChungPresident and CEOThe Missouri Partnership+1.314.725.0949 (O)+1.573.808.0089 (M)Chris@MissouriPartnership.com