I jokingly tell those who participate in my training classes that after they finish my course, they will be forbidden from saying that their area is “a great place to live, work and play” without substantiating that claim. Let’s face it: site selectors have heard this a million times, and we’ve learned to just roll our eyes with skepticism. In fact, Google has over 98 million hits for this particular phrase.
The reason why this phrase doesn’t cut it anymore is because it doesn’t differentiate your community from the other tens of thousands communities out there. In today’s competitive economic development world, not differentiating your region is a fatal flaw if you are trying to attract investment and jobs. The reason is simple: If you don’t know what your community or region stands for and what types of projects would be a good fit, then we don’t either. I’m loosely paraphrasing something Dennis Donovan said at the first ever Site Selectors Guild conference. It still rings true today.
To answer the question of how to differentiate your community or region, we help our clients answer this deceivingly simple question: “What companies or industries would place the greatest value on the particular mix of economic assets that your community or region has?” This is what has come to be known as “reverse site selection.” By answering this question, we were able to help a client attract over $100 million worth of investment in their region in less than two years. We have also been to help clients find willing buyers for recently vacated industrial buildings that they’ve been struggling to sell.
If your community or region is struggling to differentiate itself and break through the clutter of today’s economic development landscape, Ady Advantage can help you figure it out. To learn more about how we have helped our clients and how we can help you, give me a call at 608-663-9218.