A Midwest metro area had become dependent on the aerospace industry as its dominant economic base for the community.
The community lacked any economic diversification plan to protect it from the cyclical nature of the aerospace industry.
Needed to develop a strategy to attract other industries to the community.
The Solution
Retained Site Selection Group to develop a marketing strategy aimed at diversifying the industry base of the community.
Completed a comprehensive assessment of the region to understand the strengths and weaknesses of the region based on labor, infrastructure, real estate and economic incentives.
Completed a target industry analysis to determine what industries were best aligned with the resources of the region and the overall vision of the city leaders.
The Result
Identified four target industries the region should attract for economic diversification.
Provided detailed industry intelligence reports outlining companies to target, how to reach the companies, and what resources the region has to offer them.
Recommended key action items to improve the region's resources and become more competitive in the pursuit of the target industries.
