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HomeMy WebLinkAboutEDC FIVE YEAR STRATEGIC GOALS AND OBJECTIVES PLAN PORT ARTHUR ECONOMIC DEVELOPMENT CORPORATION MEMORANDUM TO: CITY COUNCIL MEMBERS FROM: FLOYD BATISTE, CEO SUBJECT: FIVE YEAR STRATEGIC GOALS AND OBJECTIVES PLAN DATE: 6/6/2012 CC: REBECCA UNDERHILL, ASST. CITY MANAGER /ADMIN. VAL TIZENO, CITY ATTORNEY KELLY MOORE, CITY SECRETARY OFFICE On June 4, 2012 the Port Arthur Economic Development Corporation (PAEDC) Board of Directors approved their Five Year Strategic Goals and Objectives Plan. It is with great excitement that I introduce this Five (5) Year Strategic Goals and Objectives Plan to the City Council at their June 12 Meeting (as a report). This plan establishes an ambitious, yet achievable, strategic economic development agenda for the EDC and its business and community partners. This strategic plan builds on the EDC's successes and assets. Please contact our office should you have any questions or concerns. Thank you. 1'13: cs Attachments 4173 39th Street Port Arthur, TX 77642 — P.O. Box 3934 Port Arthur, TX 77643 Tel: 409 - 963 -0579 — Fax: 409 - 962 -4445 t � Strategic Plan Goals 4 Workforce and Industry Development 5 Financial Tools 12 Technology Led Development 16 Growing Entrepreneurship 19 Strategic Marketing Plan 22 3 Strategic Plan Goals I) Workforce and Industry Development 1. Develop a premier workforce delivery system to serve existing employers and attract new employers. 2. Align workforce development in the city with identified targeted industries. 3. Identify, grow, and attract targeted industries. 4. Ensure adequate EDC funding and resources for the city to support the city's economic development plan. II) Financial Tools 1. Promote and support small business and entrepreneurial development and expansion in the city. 2. Identify and improve awareness of existing city financing programs for businesses in the city. 3. Improve the delivery of financial tools to city businesses. III) Technology Led Development Develop strong partnerships with the Lamar University research and development facilities and leverage their resources to grow the city's technology sector. IV) Growing Entrepreneurship Ensure that entrepreneurs and small and minority business have the information, tools and resources to maximize economic growth and development. V) Strategic Marketing Plan To pursue a progressive, coordinated city -wide approach to produce Development consistent with market demand and to uniquely position Port Arthur as a preferred business location on the Gulf Coast resulting in the city retaining existing business investments and jobs, stimulating entrepreneurial development and attracting its fair market share of new business investment and jobs in the City. The goal will be for Port Arthur Economic Development Corporation to accomplish in partnership with public and private sector partners in the City, the County and the Region. 4 1 Workforce and Industry Development GOAL 1: DEVELOP A PREMIER WORKFORCE DELIVERY SYSTEM TO SERVE EXISTING EMPLOYERS AND ATTRACT NEW EMPLOYERS. Rationale: A skilled workforce is one of Port Arthur and Southeast Texas strongest assets. Port Arthur and Southeast Texas is one of the fastest growing industrial regions in the country. In order to compete, this region needs to cultivate a qualified and skilled workforce that can meet the needs of existing employers and that can attract new high quality and high paying jobs. There already exists within the city numerous institutions and agencies that work to educate, train, and prepare the workforce. EDC will seek to integrate these efforts into an efficient, effective, and forward- looking system that can anticipate the needs of existing and emerging industries and prepare the workforce to meet them. The EDC needs to leverage its educated and skilled workforce, a significant portion of which commute out of the city for jobs, to attract high quality employers that have the potential to increase revenue for the city and income and advancement opportunities for its residents. Workforce Vision Statement Port Arthur has the premier workforce delivery system in the city. Through strategic partnerships, the system serves existing employers and attracts new employers to the city. Employers have access to workers with the appropriate knowledge, skills, and attitude to maximize productivity and expand business operations and opportunities. In Port Arthur, education, employee development, and economic development entities come together to prepare a skilled, educated, customer and service oriented workforce. This workforce will has access to quality, well - paying jobs with the opportunity to move up the employment scale within the city. All residents in the city, especially its youth, will consider Port Arthur a great place to work, live, and develop generational wealth. Objective 1: Integrate workforce preparedness education in K -12 system. Strategy 1: Develop a taskforce that brings together key stakeholders to create an integrated workforce preparedness program for K -12. Students throughout the city often struggle through school unable to see the link between books and the real world. This disconnect can stifle motivation, causing many students to perform poorly and 5 f , often drop out of school. EDC will seek to bridge this academic -real world disconnect through efforts to link school to businesses and careers. The PAEDC should explore such options through a high level taskforce of local business leaders, school board members, parents, Workforce Solution Board members, and city council members and EDC Board members. The taskforce would be charged with developing an action plan. Objective 2: Ensure effectively functioning workforce development delivery system that is responsive to changing economic circumstances. Strategy 1: Encourage business participation in Workforce Solution one -stop career center. A successful one -stop career center is one of the major goals of workforce development efforts nationwide. To be successful, the Workforce Solutions center needs to be the central information clearinghouse for both supply (the labor force) and demand (the employers). EDC will aim to increase business participation in job demand and will work with chambers of commerce, business stakeholder groups (including organized clusters) to obtain job leads and information on businesses. Strategy 2: Cross - market workforce development programs with economic development. PAEDC should work to cross - market between Workforce Development and Economic Development. This effort includes the marketing of training programs to businesses and the marketing of businesses to students and other potential employees. Workforce providers should work together to develop coordinated marketing materials and messages for businesses that can be delivered by economic development professionals. The economic development professionals should in turn develop materials to promote businesses to workers. Objective 3: Identify current and future workforce needs. Strategy 1: Coordinate labor market information with business retention information needs for the city. Labor market information helps determine training needs of existing and growing businesses in the city. It is also critical information for 6 businesses considering relocation to or expansion within the city. Therefore, the EDC can benefit from sharing resources and information. In particular, they should coordinate strategies to obtain, analyze and present labor market information. Strategy 2: Conduct periodic surveys and interviews by industry sector to determine key workforce issues, coordinated with efforts to attain business retention information. Surveying by industry sector or cluster is particularly important because industry sectors share skill sets and qualifications. This allows EDC to target its workforce resources towards the unique needs of the individual sectors. By combining workforce oriented surveys and interviews for business retention, EDC is able to save costs while increasing its ability to effectively match workforce and business needs. Objective 4: Ensure participation of key workforce and business stakeholders. Strategy 1: Gain buy -in and endorsement from individual and group stakeholders. Developing an effective workforce delivery system relies on the participation of all agencies, institutions, and businesses that play a role in serving businesses and preparing the workforce. These include business leaders, chambers of commerce, trade associations, unions, academic institutions, business roundtables, think tanks, and others. Recruit representatives from the private and public sector to the employment steering committee and make sure that its structure, timing, and format accommodate private sector members. GOAL 2 ALIGNS WORKFORCE DEVELOPMENT IN CITY WITH IDENTIFIED TARGETED INDUSTRIES. Rationale: Workforce development is most effective when it is customized to meet specific industry needs. Many communities focus economic development efforts on targeted industries, structuring and marketing programs for specific categories of businesses. This approach encourages business participation because businesses can anticipate a better, more targeted service for their employees and potential employees. Objective 1: Integrate the business development and workforce development system for new and expanding targeted businesses. Strategy 1: Develop a Workforce Employment plan around the needs of key sectors. The Workforce Employment plan will identified growth sectors to focus workforce planning. EDC plans to establish industry specific advisory committees to identify workforce needs, recommend specific initiatives, market programs and services, and provide work - based learning opportunities such as internships and coops. Strategy 2: Create a project -based system to respond to incoming and future business workforce needs. The dredging of the ship channel and the future LNG expansion in Louisiana are two developments that will soon be taking place and are prime examples of a new opportunity that EDC can seize upon to prepare its workforce for incoming jobs. With advanced knowledge of incoming jobs, EDC can match workforce preparation with the needs of the incoming industries. A systematic approach should be created so that EDC is informed of and is ready to meet the needs of businesses coming in due to new development. Objective 2: Encourage businesses to invest in new and incumbent worker training. Strategy 1: Identify and market existing worker training programs to targeted . industries. Over the last few years, more and more state and federal workforce training programs have been structured to include incumbent worker training. Such training is highly desired by businesses that need better - trained workers, including their existing workers, to compete. EDC will identify all available programs, including all state programs, and market them to businesses. This process will require EDC to work closely with individual targeted industries or organized target industry clusters to identify programs that best meet their needs, recognizing that some industries are not covered by current programs. 8 Strategy 2: Create financial incentives for businesses to invest in new and incumbent worker training. Small and medium -sized businesses often have the most difficulty in securing employment training. They are too small to have in house training programs or to work with a community college to develop a customized training for their firm. These businesses are in greatest need of incentives. Such incentives include low cost or no cost tuition, satellite programs for their employees and those of nearby firms. By implementing a cluster program to deliver training to a number of small businesses in a particular area with similar needs, EDC can better address their collective needs. GOAL 3 IDENTIFIES, GROW, AND ATTRACT TARGETED INDUSTRIES. Rationale: Business retention, expansion and attraction can be used for targeted industries or to serve city business in general. Success with targeted industries is more likely if there are compelling reasons why a specific industry would choose a particular jurisdiction or region. Port Arthur, with its proximity to many large Petro Chemical facilities, Lamar University, the Gulf of Mexico and available transit accessible land, rail and water has significant competitive advantages with which to target and attract industries. Objective 1: Identify target industries. Strategy 1: Identify target industries based on concentrations of existing industries, their projected growth and wages, and EDC's inherent strengths for those industries. Objective 2: Grow existing targeted industries. Strategy 1: Understand existing business needs; identify list of key businesses to survey and interview annually. Since most jobs are created from existing businesses, the majority of resources should go to business retention and expansion. EDC should identify, through surveys, interviews, and networking, business concerns and the resources particular industries need to grow and thrive. The information gathering should be coordinated with the gathering of labor market information. 9 Strategy 2: Implement programs to support existing targeted businesses. Business retention and expansion tools that can be directed to targeted industries include incubators, real estate assistance, one - stop shops for permitting, workforce training, cluster organization development, export promotion initiatives and financing, and other incentives. EDC will identify and implement key programs. A good business retention program supports business attraction because a satisfied customer (business) will help identify and recruit new businesses. Objective 3: Attract targeted industries. Strategy 1: Establish and maintain programs to attract targeted industries. The most successful marketing campaigns usually employ several different communication tools, including advertising, direct mail, newsletters, public relations, trade shows, special events, and prospecting trips. Advertising can be effective in cities where desired industries are located, in site selection industry publications, or trade publications. Direct mail, newsletters, and public relations are helpful in delivering a detailed message that sells a community's assets to an industry - for example, noting relevant training programs. Relationship marketing, through trade shows, prospecting trips and special events such as festivals, focused business familiarization tours and seminars, are additional ways to focus attention on and build contacts within a particular industry. Finally, a good website is essential to distinguish the city from other jurisdictions. Strategy 2: Create and maintain programs that attract international companies desiring to establish a presence in our city. Addressing issues of global workforce development is a strategy that ensures that appropriate resources will be available in our city for international companies as they arrive. The availability of e- permitting, good infrastructure and reliability of utilities, assistance with location strategies, and city incentives spell convenience to companies looking for a U.S. location. 10 Strategy 3: Develop a trading culture; identify existing businesses and programs needed to support these businesses. Collaborations between business associations, educational institutions, non - governmental organizations and local, state, national and other international governmental entities can ensure success for small and medium -sized emerging growth businesses poised to seize international business opportunities around the globe. Identifying barriers as well as opportunities becomes a critical element of program development. GOAL 4 ENSURES ADEQUATE FUNDING AND RESOURCES FOR EDC TO SUPPORT THE CITY'S ECONOMIC DEVELOPMENT PLAN. Objective 1: Develop Economic Development Plan Implementation budget to meet identified goals and objectives. 11 r 1. Financial Tools GOAL 1: PROMOTE AND SUPPORT SMALL BUSINESS AND ENTREPRENEURIAL DEVELOPMENT AND EXPANSION IN THE CITY. Rationale: Small businesses, not large corporations, are the city's dominant engine for economic growth and job creation. Small businesses create local jobs, increase the local tax base, and can provide higher wages. 75 percent of new jobs in our city are created by small businesses. Homegrown entrepreneurial and small businesses are less likely to relocate and are more likely to hire local residents. Objective 1: Align technical assistance and training with financing for small and entrepreneurial businesses. Strategy 1: Provide comprehensive management, technical assistance, and business training components to support growth of small businesses. This can be accomplished through a partnership of Lamar Small Business Development Center (SBDC) and EDC's subcontractor, the National Development Council (NDC), operated by the Port Arthur Economic Development Corporation. EDC can refer its clients to the Small Business Development Center and vice versa, ensuring that prospective business owners in the city are properly trained and financed, thereby increasing their ability to establish and grow a successful business. The importance of aligning technical assistance and financing is underscored by the clients having ready access to training and assistance opportunities offered by the EDC and SBDC, so that prospective business operators undergoing training and assistance can be easily referred for financing to the NDC. NDC will also offer, on an ongoing basis, two courses "Cash Reigns Supreme" and "Taking Care of Business ", that help educate business owners put together financial statements in preparation to seek financing from a lender. Strategy 2: Monitor growth trends and ongoing needs of businesses that have received program support. Ongoing monitoring of the small businesses that go through SBDC training will enable the EDC to evaluate the effectiveness of the program and ensure appropriate use of resources. The EDC can measure the economic impact of the NDC by tracking sales, job growth, and other identified factors of the businesses that go through the program. Bi- annual or annual follow -up by the SBDC will 12 also ensure that the program participants continue to receive the assistance that they need to sustain and grow their businesses. Strategy 3: Coordinate small business resource providers within city to present cohesive delivery of services. Within the City of Port Arthur there are many resources for small business support. This includes the Lamar Small Business Development Center, local banks and credit unions, and others. EDC should coordinate information from all city assistance providers and refer EDC participants to the appropriate program that meets their needs for initial training or continued support. Objective 2: Increase and maximize financing opportunities for small and entrepreneurial business development. Strategy 1: Maximize the city's participation with federal, state, and private business financing resources. There are a number of federal, state, and city financing tools available to assist our businesses. Currently, EDC is not making optimal use of available tools and capacity. EDC, for example, has a subcontractor who has a Community Development Financial Institution (CDFI) status, but does not operate or access the resources available through that certification because of a lack of personnel and knowledge. EDC must ensure that they have sufficient manpower and knowledge to manage and administer their financial programs to their full potential. GOAL 2: IDENTIFY AND IMPROVE AWARENESS OF EXISTING CITY FINANCING PROGRAMS FOR BUSINESSES IN THE CITY. Rationale: Presently, there are numerous financing resources available for business owners in the city. However, in many cases, these sources are not well known to the business community. With limited time, small business owners cannot research the available resources. Developing a marketing tool that summarizes the financing alternatives available can stimulate activity in these programs and provide business owners with the right financing to help grow their businesses. 13 Objective 1: Enhance marketing outreach to city business owners and prospective entrepreneurs. Strategy 1: Prepare easy -to- understand and comprehensive brochure that lists and describes existing financial tools available at EDC. Update and publish the listing annually and distribute to financial, educational, and business institutions throughout city. There is a need for a single easy -to- understand document for a prospective business owner seeking financing in Port Arthur. EDC should create a matrix that lists all traditional and non - traditional financing programs available through private and public entities. The list includes a description, program features, and contact information for each program. To maximize the effectiveness of the list, it should be published as collateral marketing material in an easy to read and attractive brochure. Strategy 2: Assign position within EDC for staff to actively market financing programs outside the office. The EDC should have a dedicated staff person to actively market financing programs and generate qualified leads for participation in city programs. The outreach staff would visit with bankers, brokers, business executives, training providers, and other'referral sources. GOAL 3: IMPROVE THE DELIVERY OF FINANCIAL TOOLS TO CITY BUSINESSES. Rationale: Currently, prospects looking for financing have to go through multiple agencies in different locations, a time - consuming process. This results in undue complexity or perception of complexity in obtaining financing for the client, and inefficient use of time, personnel, and budget for the EDC. EDC wants to improve the delivery system to encourage increased business participation and to reduce the cost to the EDC. 14 . Objective 1: Streamline the delivery of business services and tools among providers. Strategy 1: Have consistent communication with providers to ensure communication is flowing easily. Based on interest from all parties, organize monthly or bi- monthly meeting to ensure communication between service providers. Strategy 2: Create a document listing the various services provided to businesses locally and the associated contact person. This will help businesses navigate the environment. Strategy 3: Create an ombudsman responsibility for an EDC staff member. This member would be responsible for being the liaison between the business and other service providers. This individual will help the business navigate the different parties to obtain the necessary resources and services. 15 Technology Led Development GOAL 1: DEVELOP STRONG PARTNERSHIPS WITH LAMAR UNIVERSITY RESEARCH AND DEVELOPMENT FACILITIES AND LEVERAGE THEIR RESOURCES TO GROW THE CITY'S TECHNOLOGY SECTOR. Rationale: With close proximity to Port Arthur, is Lamar University and Lamar Institute of Technology. These institutions play a vital role in Port Arthur economy. They provide not only a significant base of local employment, but add economic activity as businesses providing services to these facilities locate in our city. Lamar University is involved in research and development, bringing additional benefits to the city through the creation of spin -off businesses. Research and development (R &D) can be defined as, "Basic and applied research in science and engineering and the design and development of prototypes and processes." The presence of R &D is important to our city as technology firms are attracted to areas with established R &D activities, either occurring in the private sector by firms in like industries or in the public sector in universities. While innovations are typically proprietary, firms are often able to benefit from the research of other firms through a phenomenon known as "knowledge spillover." One company's innovation may "stimulate a flood of related inventions and technical improvements by other companies." In the case of Lamar University the R &D infrastructure is already in place. From the city's perspective, opportunities exist to grow local businesses and recruit firms that can take advantage of Lamar University extensive R &D activity. Objective 1: Strategically increase recognition of the Lamar University research and development facility to city businesses, residents and political leadership. Strategy 1: Market Lamar University as a technology center. Lamar University is often not identified as being a region University. Lamar University is commonly mistaken for being in Beaumont, Texas. This may serve as a basis for the region to develop marketing materials that extol the benefits, particularly to technology firms, of locating in Jefferson County. Strategy 2: Encourage business interaction with Lamar University research facilities through a technology- related conference or showcase. 16 The region should find ways to link local firms with procurement opportunities at these facilities, such as provision of technology services and supplies or actual research and development work. The annual technology showcase would highlight activities at the research labs and would identify how firms could partner in these activities. Strategy 3: Develop a technology media campaign. The REDI has begun a concerted effort to reach out to the media. To educate the public about what is happening specifically in the region research facility, REDI should recommends that a regular e- newsletter be produced for media outlets highlighting the technologies under development at Lamar University research institutions and incubators. Strategy 4: Encourage the development of the Regional Economic Development Corporation as the economic nucleus for the region. The regional Economic Development Corporation serves to bring together both the private and public sector to improve the local economy. While the City's Mayors annually hosts a State of their City presentation, REDI should host an annual summit to bring together the communities to address economic issues. Objective 2: Enhance communication between city government leaders and research facility officials. Strategy 1: Institute regular meetings between the Regional City Council Members and Lamar University research facility leaders. The economic development strategic planning process should bring about a great deal of communication between the Regional City Council's and Lamar University research facility leaders. To ensure that this communication continues beyond the publication of this plan, REDI should make sure that the relationships be formalized through regular meetings of the Regional City council Members and Lamar University research facility leaders. Strategy 2: Support the Lamar University efforts to improve and seek financial assistance its research and development facility. 17 7 , Financial assistance is a challenged, and this has an impact on the University's efforts to recruit faculty and staff. The Region needs to aid Lamar University in its efforts to secure federal and state grants for their research and development facility. Strategy 3: Work with Lamar University attracts companies to a proposed Research Park. Lamar University has a desire to develop Research Park adjacent to or near the University. The research park will offer firms the opportunity to be in close proximity to a large research institution and potentially benefit from synergies between the two. As the EDC's works to attract firms to the region, particularly those involved in technology, a proposed Research Park can serve as a strong asset. 18 Growing Entrepreneurship GOAL 1: ENSURE THAT ENTREPRENEURS AND SMALL AND MINORITY BUSINESS ENTERPRISES IN THE CITY HAVE THE INFORMATION, TOOLS, AND RESOURCES THEY NEED TO MAXIMIZE ECONOMIC GROWTH AND DEVELOPMENT. Rationale: Entrepreneurs play a critical role in our city's economy. According to the Small Business Administration (SBA), small businesses "account for half of the U.S. non -farm private gross domestic product and employ half of the U.S. private work force." The SBA also points out that, over the past decade, small firms have provided sixty to eighty percent of the net new jobs in the economy. Clearly, small businesses and the entrepreneurs who start them have particular importance to the economy nationally and locally in Port Arthur. Objective 1: Be the central source of information for entrepreneurs and small and minority enterprises in the city. Strategy 1: Develop a website to provide information on resources available to entrepreneurs and small and minority enterprises in the city. Develop a website that can serve as a portal for entrepreneurs and small and minority enterprises in the city, providing guidance and direction to these firms and leading them to resources. In an effort to determine the resources available to entrepreneurs and small and minority enterprises in the city, EDC should develop a list of technical assistance providers available to these firms. This list can serve as the basis for this website. The website should also be developed based on the needs identified by entrepreneurs and small and minority enterprises. Strategy 2: Increase collaboration among city institutions on the issue of economic development. A number of institutions in the city address economic development issues, but they do not always work in concert. The EDC should be the prime economic development organization, bringing together the city government, chamber of commerce, universities, and the private sector to address issues. At present, these assets are not being fully leveraged because of a lack of collaboration. 19 S . • Objective 2: Provide adequate access to capital for entrepreneurs and small businesses. Strategy 1: Connect entrepreneurs with financial literacy programs. The value of providing entrepreneurs and small business owners with technical assistance to help grow their businesses. This technical assistance could be provided by other organizations in the city such as the Lamar State College - Small Business Development Center, incubators, and the like. EDC can serve as a resource on these services, referring small businesses to already available services. Objective 3: Target programs according to the needs of businesses of different sizes, industries, and clusters. Strategy 1: Segment EDC services according to the size of the business. EDC can begin its work by exploring the question - what size business should the EDC attempt to serve? Should it serve very small firms that have great growth potential, but need a great deal of technical assistance and handholding? Or should the EDC serve only larger firms where the return will be less risky and more immediate? EDC should look to serve all these firms, but tailor their programming for each group. Strategy 2: Tailor EDC programs to meet the needs of emerging industries. Markets change so quickly it is often difficult for EDC's to keep up with what the current emerging industries are. To discern this, EDC should gather business leaders from around the city to provide specific information on emerging industries. Objective 4: Support the development of a skilled workforce for entrepreneurs and small businesses in the county. Strategy 1: Link entrepreneurs and small businesses to workforce training. EDC recognized the importance of having a skilled workforce in order to have a successful, growing business. While larger businesses are often able to provide considerable training to their staffs, smaller businesses, particularly start -ups, often cannot spend time and resources on this effort. Of particular concern is the transition from a product- oriented economy to a service -based economy and the required training associated with that shift. EDC should find 20 1 , ways to link firms with training, partnering them with subject matter experts in that industry. Strategy 2: Provide young people in the city opportunities to become involved in entrepreneurship. Current vocational /training programs do not typically prepare young people to become an entrepreneur. The current job training system trains people to get a job, but it does not train people on how to create a job. Community colleges can develop partnerships with high schools to provide skill trainings and certifications, particularly in technical fields. 21 a , Strategic Marketing Plan FIVE -YEAR GOAL To pursue a progressive, coordinated city -wide approach to product development consistent with market demand and to uniquely position Port Arthur as a preferred business location on the Gulf Coast resulting in the city retaining existing business investments and jobs, stimulating entrepreneurial development and attracting its fair market share of new business investment and jobs in the City. The goal will be for Port Arthur Economic Development Corporation to accomplish in partnership with public and private sector partners in the City, the County and the Region. OBJECTIVES 1. "Lead the Port Arthur Economic Development Team on the Road to Success "... encouraging and facilitating cooperation and collaboration among and between community, county and regional public - private leaders to aggressively implement a coordinated approach to economic development ... resulting in Port Arthur reaching its success destination — five -year goal. 2. "Get Development Ready" ... increases the inventory of "shovel -ready sites" and "available office /industrial space" and enhances the features/benefits of the product consistent with market demand to compete more frequently and effectively for business locations and expansions in the City of Port Arthur. 3. "Be Information Ready" ... serve as the information clearinghouse on development opportunities in Port Arthur. Responding efficiently and effectively to development opportunities-24/7. 4. "Take Care of Existing Customers "... Port Arthur, area business and industry retaining and growing existing business investments and employment. 5. "Turn Up the Volume" ... uniquely position and aggressively promote Port Arthur to build a positive business image and awareness of the city's development /location opportunities ... generating at least 100 targeted business contacts and at least 10 qualified business investment leads /prospects on an annual basis. 6. "Convert Leads to Sales" ... develop strategic business relationships with regional economic development partners, developers /realtors and qualified business location prospects ... generating 10 projects and 4 "fact finding " / "confirmation" site visits on an annual basis. Develop competitive sales proposals including incentive package based on the client's growth needs ... enhancing Port Arthur's ability to "close the sale." 7. "Stimulate Entrepreneurial Development" ... to grow clusters of new, innovative businesses. 22 "Be 8. B Accountable and Transparent" arent ... to maintain organization and to trust in the or P g generate investment and support of investors and stakeholders. In summary, on an annual basis the marketing -plan objectives are to result in at least: • 100 contacts i is w th targeted business decision - makers • 10 qualified business investment leads /prospects • 10 projects • 4 "fact finding" / "confirmation" site visits resulting in Port Arthur Economic Development Corporation reaching its five -year goal of attracting its fair market share of new business investment and jobs in the region along with retaining and growing existing business investments and stimulating entrepreneurial development. 23