Develop This: Economic and Community Development

Dennis is joined by Mid America Economic Development Council's immediate past president, Horton Hobbs, to discuss the recent MAEDC Competitiveness Conference in Indianapolis. Dennis and Horton talk about highlights from the conference, Mid-Amercia EDC, and upcoming 2024 conferences. 

In this episode, contributing corespondent Sean M. Maguire talks affordable housing and economic development with Stephane Frijja, President and CEO of Northeast Indiana Regional Partnership.

Dennis is joined by Keith A. Gillenwater, CEcD, MEDP, MPA, President & CEO of Grow Wabash County, and Jeff Pipkin, Economic Development Manager at Hoosier Energy, to discuss the Mid America EDC Competitiveness Conference. 

Dennis, Keith, and Jeff discuss what makes the Competitivness Conference special. The conference is designed and planned by working economic development professionals. There's something for everyone from big idea projects to nuts and bolts advice, tours, and their world -famous karaoke. 

Don't miss one of the best conferences in Amercia for economic development professionals. This year the conference is being held in a new city, Indianapolis, IN. Learn how Indianapolis has become the amauetuer sports capital of the United States. 

2023 Mid-America Competitiveness Conference November 29th – December 1st Indianapolis Marriott Downtown

Register today!

In this episode Dennis talks about finding a career-changing mentor late in life. Phil, Dennis' mentor recently passed away and Dennis reflects and discusses the difference having the right mentor can make in your life. To honor his mentor Dennis wants to give back by paying it forward to a Develop This listener. 

Dennis is joined by generational expert Mark C. Perna. Mark has spent 2023 speaking to 100's of education, community and economic development groups and organizations with 10,000's of people. Mark gives his insight into the trends, opportunities, and challenges he see's working with the generations and organizations involved in workforce development. Finally Mark and Dennis discuss what gives them hope for the future. 

Winning Ugly

In this episode Dennis talks about how we measure success and why being flashy may not always yield the best results. 

Iowa Football Statistics

Iowa's offense is currently ranked 133 of 133 in the FBS. Through 7 games, they have 13 total offensive TDs and have punted the ball 47 times. They average less than 250 total yards per game.

Despite this, they have a top 10 scoring defense and are sitting comfortably atop the Big 10 West at 6-1.

To have his contract extended beyond June 30, 2024, Ferentz, the son of Iowa coach Kirk Ferentz, needs his offense to average 25 points over 13 games this season, and the team must win seven games.

And the "Drive to 325" was born.

Six of the top 10 highest-scoring teams (USC, Oregon, Washington, Oklahoma, LSU, Florida State) are averaging double what Iowa scores on average. The Trojans' offense, which has the highest points-per-game average in college football at 51.8

Iowa ranks 118th or lower, out of 133 FBS teams, in the following eight categories:

Red zone touchdown rate: 118

Points per drive: 119

Three-and-out rate: 127

Yards-per-play: 128

Yards-per-game: 130

Yards-per-game: 132

Yards-per-drive: 132

Success rate average: 132 128th in rushing, 131st in passing)

The Hawkeyes rank dead last in yards per game, averaging 249.2.

Winning Ugly: Mental Warfare in Tennis - Lessons from a Master – Brad Gilbert

He's been called the best in the world at the mental game of tennis. Brad Gilbert's strokes may not be pretty, but looks aren't everything. He has beaten the tour's biggest names - all by playing his "ugly" game. Now, in Winning Ugly, Gilbert teaches recreational players how to win more often without necessarily even changing their strokes.

The key to success, he says, is to become a better thinking player - to recognize, analyze, and capitalize. That means out-thinking opponents before, during, and after a match - forcing him or her to play your game. Gilbert's unconventional advice includes:

Solid Economic Development Fundamentals

• Build relationships
• Create action
• Action even if not successful, beats inaction

Workforce program

• Know your employers
• Understand their needs
• Be a catalyst

BRE

• Check-ins
• Early warning signs for problems
• Appreciate what you have

Attraction

• Maps
• Utility information
• Up to date data

Solid fundamentals will take you a long way

Add a mix of creativity and relationships and you have a winning formula

William H. “Wee Willie” Keeler was one of the smallest players ever in major league baseball at 5-foot-4, 140 pounds. But he had one of the biggest bats in the game, both figuratively and literally, weighing up to 46 ounces.

His motto was, “Keep your eye on the ball and hit ‘em where they ain’t,” and it certainly worked for the third baseman-turned-outfielder. Keeler had 13 straight seasons in which he batted over .300 and he reached the mark in 16 of the 19 years he played. He had a lifetime average of .345 and for seven straight seasons he also had an on-base percentage that was above .400.

Recorded at the 2023 IEDC Annual Conference in Dallas, TX. Dennis is joined by Develop This! contributing correspondent Sean Maguire. Dennis and Sean give a recap and review of the 2023 IEDC Annual Conference in Dallas, TX.

New IEDC Strategic Plan

PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA 

Bethany Quinn  -  Vice President of Strategy and Content Development for Golden Shovel

Dennis is joined by Bethany Quinn from Golden Shovel, and they discuss PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA, a Golden Shovel white paper. 

For economic developers housing is one of the major topics we deal with, especially workforce housing.

• The data behind the Golden Shovel white paper and the role the pandemic played
• Pre-pandemic communities were facing housing shortages that negatively impacted their ability to grow. Compnaies needed more housing for their employees. People couldn’t move for employment opportunities because there wasn’t affordable housing
• Housing shortages are now at the forefront of public consciousness and the existing housing costs exponentially more. 
• Case-Shiller Index Report showed an 18.8% annual home price increase. Zumper’s National Rent Report showed that rent for a one-bedroom apartment hit an all-time high of $1,400 in 2022, for the national average– this is a 12 percent year-over-year increase.
• The United States alone has a housing shortfall of 3.8 million units. According to Freddie Mac researchers, “The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes. T

Information Contained in a Housing Study

The structure of a housing study varies from consultant to consultant and is based on community priorities. Some of the common features are as follows:

• Analysis of current housing supply, broken down by owner-occupied vs. rental, and type of housing.

• Report on the condition of current housing stock, including identifying the number of homes that should be torn down or need serious renovations to be livable.

• Analysis of the affordability of housing for the existing workforce.

• Estimate how many housing units will be needed, per category, over the next five years.

• Location breakdown for housing demand (necessary for a regional report).

• Determination of how many housing units need to be built as “workforce housing.”

• Determination of how much senior housing will be needed.

• A projection of how the housing needs could change if the EDO’s work results in job growth.

• Analysis of the community’s current development capabilities and if outside developers will be needed to meet housing targets.

 Best Practices

•  Pattern Zoning & Pre-Approvals As a Strategy in Claremore, OK
•  EMPOWER INDIVIDUAL HOMEOWNERS TO BUILD
•  INCENTIVES & POLICY TO SPUR WORKFORCE HOUSING DEVELOPMENT
•  TAKE AN ACTIVE ROLE IN THE DEVELOPMENT PROCESS
•  Spurring Housing Development Without Significant Capital in Clinton, Iowa
•  REZONE TO INCREASE DENSITY
• REPURPOSE LAND & BUILDINGS
• TURN BLIGHT INTO OPPORTUNITIES

Ron Kresha - COO & CFO Golden Shovel

Creating a Marketing Plan

Ron Kresha, Chief Operating Officer, is a founding member who helped start Golden Shovel Agency on the premise that every community deserves to be recognized and to have the tools needed to compete for businesses and jobs. He is committed to providing services that improve communities and people’s lives. Ron refers to himself as a serial entrepreneur who has been told he’s “too stupid to know how to fail”. He wears that as a badge of honor as a person who never quits on people, companies, or communities.

How has marketing for economic development groups changed?

How have websites changed and how we access information changed?

• The percentage of global web traffic on mobile phones has surged over the past decade. In May 2023, 51.52% of all web traffic came through mobile phones, with the average for 2023 so far coming in at 56.86%. 

The importance of a Strategic Marketing Plan

Golden Sovel white paper AN ECONOMIC DEVELOPER’S COMPLETE GUIDE TO MARKETING & SEO STRATEGIES

Strategic marketing is creating a comprehensive plan that aligns with an organization’s overall strategy to achieve specific objectives. It involves:

1. Identifying the target audience & understanding the competition.

2. Developing a unique value proposition (UVP).

3. Creating a marketing mix that effectively communicates your message.

This long-term process requires a deep understanding of the market and the organization’s goals.

CRAFTING & EXECUTING A STRATEGIC MARKETING PLAN

To achieve success, economic developers must effectively execute their plans, measure the effectiveness of their marketing efforts, and adjust their approach as needed to ensure the desired results are achieved.

1. Determine your marketing mix. Decide which marketing channels (such as advertising, PR, social media, email marketing, etc.) will most effectively reach your target audience and achieve your goals.

2. Create a budget. Allocate resources to each of your marketing channels and tactics. Be sure to consider both the cost of creating and executing the marketing plan and the potential return on investment.

3. Develop a timeline. Create a timeline for executing your marketing plan. Assign specific tasks and deadlines to team members responsible for each tactic.

4. Implement the plan. Begin running your marketing tactics according to your timeline.

5. Measure and analyze results. Continuously monitor your marketing efforts and analyze your results. Use data to identify what’s working and what’s not, and adjust your plan accordingly. 

GET SMART

SMART goals are a popular framework for setting and achieving goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound.

1. Specific: Be clear and specific about the results. Instead of setting a vague goal like “post more content,” set a specific goal like “post relevant community events every week for ten weeks.”

2. Measurable: Ensure your goal is measurable. This means setting criteria for success, such as tracking your social media interactions and increasing economic development conversations.

3. Achievable: Set goals that are realistic and achievable. Don’t set yourself up for failure by setting an unrealistic goal. Instead, ensure your goals can realistically be accomplished with your current resources and abilities.

4. Relevant: Make your goals relevant to your larger objectives and values. Ask yourself if the goal will help you achieve something meaningful.

5. Time-bound: Set a deadline for your goal. Stay focused and motivated. For example, set a deadline of three months to aggressively

Using SMART goals will make your goals clear, measurable, achievable, relevant, and time-bound, setting you up for success.

TOP REASONS STRATEGIC MARKETING PLANS FAIL

There are several reasons why strategic marketing plans can fail.

#1 Poor planning – successful strategic marketing requires a well-defined plan with clear objectives, target audience, and tactics. If an EDO fails to plan correctly, it can result in inadequate or ineffective marketing efforts.

#2 Not understanding your target audience – an EDO’s marketing strategy depends on how well it understands its audience. Failure to understand can lead to marketing campaigns that are irrelevant, uninteresting, or unappealing.

#3 Insufficient resources – implementing a strategic marketing plan can be costly, and a lack of resources can result in an inability to execute the plan effectively. This can include lacking financial resources, human resources, or time.

#4 Poor execution – even the best marketing plan can fail if the execution is poor. Poor execution can result from a lack of attention to detail, ineffective communication, or insufficient training and support.

#5 Inability to adapt – the marketplace is constantly changing, and a successful marketing strategy requires adapting to these changes. Failure to adapt can result in a marketing strategy that is no longer effective or relevant.

#6 Lack of differentiation – in today’s highly competitive market, it’s crucial for companies to differentiate themselves from their competitors. Failure to differentiate can make it difficult to attract and retain businesses and workforce.

Pulling together the components for a website or marketing effort derails most people.

• Copy
• Photos
• Data
• Graphics

Golden Shovel has a four step process

• Schedule a call
• Develop a strategy
• Engage
• Measure success

In this episode Dennis gets personal about how a week of good news and bad news affected him. Economic development professionals get an up close and personal look at the highs and lows that happen in their communities. It's never easy to feel helpless trying to save a facility and people's jobs in your community.