How Attractive is Your Region to Prospective Companies?
Finding and attracting the prospects you seek requires access to accurate data, a thorough understanding of key trends and a realistic grasp of how your region is being evaluated by candidate companies.
How does your region’s labor availability stack up?
Up until recently, recruiting companies was the starting point for investment attraction, followed by working on attracting the right people to satisfy workforce needs. That doesn’t cut it anymore. The starting point is now retaining and recruiting talent to make sure your region can attract companies in the first place.
In 2013, believe it or not, labor availability was not even on the radar as a key consideration for relocation. However, in 2018, guess what consideration was the biggest “mover & shaker”? You guessed it – labor availability! It catapulted to the 3rd most important reason for domestic relocation behind infrastructure and facility costs. The main message here is simple, make sure you are aware of workforce trends in and around your region, and whether you can satisfy workforce needs in your target sectors.
Source: Area Development Corporate Survey
Love at first site
First impressions matter, and often, your website is that first impression for prospects and site selectors. This powerful marketing tool allows you to highlight how awesome your region is, and to differentiate itself from competitors. When planning for expansion and developing a list of destination options, a site selector or prospect’s first step is rarely reaching out to EDOs. It is common practice to visit their website first before making contact.
Making it easy for site selectors and prospects to find the scoop on your region is critical. Otherwise, you run the risk of being eliminated from the selection process before it even starts. And what scoop are they looking for? The “must-have” features on an EDO website include:
- Incentive information
- Demographic information
- Searchable database of available buildings and sites
- Workforce statistics
- Comparisons to competitor locations
- Major employer list
Are you using the right data to attract investment?
Once you have your website in tip-top shape, the focus shifts to developing a data supported strategy. Data can shine a light on how to strengthen your clusters and identify your ideal targets. And that’s where Gazelle.ai comes into play!
With its value chain analysis, Gazelle.ai can provide the data you need to strengthen your clusters and minimize dollar outflow. There is great value in having a clear picture of suppliers to existing clusters. This will put you in a position to identify growing companies worth pursuing in order to create “cluster stickiness” and provide an attractive business environment for new investment.
With its unparalleled AI-powered capabilities, Gazelle.ai will help you define your region’s strengths, know your weaknesses and guide you to the hot-spots and fast-growing companies that represent your best opportunities.