In Forward Sioux Falls 2011-2016,
WE WILL:
WE WILL:
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Conduct visits and respond to the needs of key businesses with 50 or more employees, achieving 350 visits over the program |
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Advocate to develop statewide and complimentary local incentives for economic development |
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Establish a formal business and retention and expansion (BRE) program with consistent visitation and outreach to existing businesses, supporting their growth and expansion and leveraging their networks to generate new business industrial prospects |
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Positively influence business prospects and economic development decision-makers by hosting prospects and consultants in Sioux Falls to familiarize them with our community and operational advantages |
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Work with the Sioux Falls Convention & Visitors Bureau and the Governor’s Office of Economic Development to promote economic development opportunities in the Sioux Falls area to key visitor groups attending events and experiencing recreational and tourism opportunities in South Dakota |
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Direct recruitment and focused resources on targeted industries of Medical Services & Research Science, Corporate & Data Services, Renewable Energy Technologies, and Warehousing & Distribution |
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Conduct marketing missions and attend trade shows focused on targeted business industry sectors |
The Goal
To facilitate the expansion of existing companies and actively target and recruit new businesses to the Sioux Falls MSA, resulting in increased job and income growth.
Successful economic development programs require both capacity building and effective marketing. The most successful economic development programs leverage all community partners to improve the community and market area while the economic development organizations build awareness of the community’s assets with local stakeholders and the outside world.
It is now time to strategically expand and focus marketing on selected industries that create quality jobs in four targeted industries identified during the Future Sioux Falls planning process. Actively seeking out these technology-based companies will require new marketing techniques as well as a new marketing message.
Existing Business Retention and Expansion
Our research has demonstrated the high importance of supporting existing businesses in assisting their growth and expansion. Approximately 80 percent of all new jobs are typically created by those companies already established in a community, yet most economic development efforts lack a formal, ongoing program to meet their needs. Core programs such as responding to existing industries needing assistance, the annual survey of existing businesses and ongoing business incentive research will continue.
New Business Attraction and Recruitment
Our leadership needs to concentrate our marketing on high-value, targeted industry sectors with the capability of transforming our economy. Moving from a responsive program to one that aggressively recruits and markets to targeted companies requires a new message and new marketing initiatives and incentives, while retaining our foundational strategies of business and industrial park development and geographically targeted marketing promotions.
We will focus our recruitment efforts on the targeted industries identified in Future Sioux Falls: Corporate and Data Services; Renewable Energy Technology; Medical Services and Research Science; and Warehousing and Distribution. Successful core programs established in previous Forward Sioux Falls programs will continue, such as the successful radio marketing campaign to the Twin Cities. We will retain the Boyd Company to produce and promote favorable competitive economic studies on Sioux Falls’ operating cost advantages and will focus on targeted industries. We will continue ongoing research and support in response to prospect inquiries.
Support for our importing and exporting companies will continue through the South Dakota International Port. The Port’s Customs Office allows freight and passengers to clear customs in Sioux Falls rather than in another state. Education and support to our companies will increase their competitiveness in a global marketplace.
To facilitate the expansion of existing companies and actively target and recruit new businesses to the Sioux Falls MSA, resulting in increased job and income growth.Successful economic development programs require both capacity building and effective marketing. The most successful economic development programs leverage all community partners to improve the community and market area while the economic development organizations build awareness of the community’s assets with local stakeholders and the outside world.
It is now time to strategically expand and focus marketing on selected industries that create quality jobs in four targeted industries identified during the Future Sioux Falls planning process. Actively seeking out these technology-based companies will require new marketing techniques as well as a new marketing message.
Existing Business Retention and Expansion
Our research has demonstrated the high importance of supporting existing businesses in assisting their growth and expansion. Approximately 80 percent of all new jobs are typically created by those companies already established in a community, yet most economic development efforts lack a formal, ongoing program to meet their needs. Core programs such as responding to existing industries needing assistance, the annual survey of existing businesses and ongoing business incentive research will continue.
New Business Attraction and Recruitment
Our leadership needs to concentrate our marketing on high-value, targeted industry sectors with the capability of transforming our economy. Moving from a responsive program to one that aggressively recruits and markets to targeted companies requires a new message and new marketing initiatives and incentives, while retaining our foundational strategies of business and industrial park development and geographically targeted marketing promotions.
We will focus our recruitment efforts on the targeted industries identified in Future Sioux Falls: Corporate and Data Services; Renewable Energy Technology; Medical Services and Research Science; and Warehousing and Distribution. Successful core programs established in previous Forward Sioux Falls programs will continue, such as the successful radio marketing campaign to the Twin Cities. We will retain the Boyd Company to produce and promote favorable competitive economic studies on Sioux Falls’ operating cost advantages and will focus on targeted industries. We will continue ongoing research and support in response to prospect inquiries.
Support for our importing and exporting companies will continue through the South Dakota International Port. The Port’s Customs Office allows freight and passengers to clear customs in Sioux Falls rather than in another state. Education and support to our companies will increase their competitiveness in a global marketplace.
