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Envoy is a periodic report on the Greater Richmond Partnership’s activities to keep investors, board members and allies informed of our progress.
In this issue, you'll find:
Every organization should be in the practice of reviewing its corporate mission, particularly when determining how to react, plan a strategy and take action. The Greater Richmond Partnership's mission is our driving force and guides our decisions and tactics. Our mission statement remains:
Each day our activities reflect this statement, which you will see in this issue of Envoy. This fall, in response to the changing global economy, the Greater Richmond Partnership developed and set forth a 90 day strategic action plan. Launched December 2, 2008, the “Response to Changing Economic Times in the Richmond Region: a 90 Day Action Plan” continues as a working document and can be reviewed at: www.grpva.com/90dayplan.pdf . The plan's four main components are:
Within the first 60 days, the plan demonstrated progress and results in each of the plan's four components. Targeting key industries and markets, development of an online career resource, collaboration with regional organizations and enhancement of tools is showing the growth potential the region has to survive these economic times. The following information highlights the Partnership's activities since July 1, 2008 and how the action plan continues to set the course for our next five-year cycle. Outreach Marketing – Prospects, Successes, Strategies and Initiatives return to top Prospects Successes
FY 2008-2009– Outreach Marketing During the first half of FY 2008-09, the Partnership marketing and outreach efforts sailed through choppy waters as the world economy faced unprecedented challenges. Although prospect visits in the pipeline remained brisk and strong during this period, the identification of new projects became more difficult as many decision makers decided to wait and see before green lighting new initiatives. However, our outreach efforts continued to spread the message that Greater Richmond is a long term player and the region's natural assets still make it a strong, long term investment opportunity. Direct outreach marketing activities touched companies and prospects from Sweden to Liverpool, Atlanta to Chicago, Denver to Southern California. Highlights and brief descriptions follow below. Domestic Outreach Marketing The Partnership's life sciences marketing specialist whom we share with the Virginia Biotechnology Research Park led a team that participated at the Mid-Atlantic Bio conference and exhibition held in Bethesda, Maryland. Another target of note included a joint GRP/VEDP campaign focused on data centers. A conference and exhibition in California also provided the opportunity to organize a reception and dinner with key executives invited to learn more about Virginia and Greater Richmond opportunities. In an attempt to capitalize on the future impact of Rolls Royce in Prince George County, a targeted direct mail and email campaign was rolled out in the early fall directed at aerospace and metal working companies in New England, especially Connecticut. With the torrent of unrelenting and dismal economic news coming out in this period, the response to this campaign was marginal. However, as Rolls Royce moves forward and economic conditions stabilize, the region is poised to reactivate this marketing program. The ongoing aggressive contact campaign to business location consultants continued in Orlando at the CoreNet annual meeting. Marketing reps from Chesterfield County and VEDP also were part of the team. International Outreach Marketing The UK continued to be a major target, building on five years of previous efforts. Again teaming with VEDP, the Partnership hosted key prospects at Wimbledon in July, and for the first time, the British Open two weeks later. This marketing trip included two teams with representatives from Hanover and Henrico. Additional marketing calls in Germany were also included between the two anchor events. Individual meetings in the UK were included with prospects as well as a day spent at the Farnborough Air Show just outside London. A trip to Scandinavia in late October included stops in several cities in Sweden and Denmark. This mission was planned by Springboard Marketing, GRP's UK and Northern Europe marketing firm. The week in Scandinavia was followed by a week's trip throughout the UK and included an attorney from McCandlish Holton and staff from the Virginia Biotechnology Research Park (VBRP). The cooperative marketing initiative with Virginia Biotechnology Research Park included an outreach and recruiting trip to Israel. Nicky Colomb and Donna Edmonds of the VBRP identified candidates to participate in the new Virginia Israel Biosciences Commercialization Center based at the Park. The Partnership staff along with Henrico visited commercial offices at several Scandinavian and German embassies during the six month period. This included a stop at the Swedish American Chamber of Commerce, which the Partnership has now joined. Additional relationships around the world continue to be created or expanded including Nottingham, England; Sheffield, England; Copenhagen; and, Erlangen, Germany. Finally, Japan came to the U.S. this year with the annual meeting of the Southeast United States-Japan Association in Raleigh, North Carolina. The Partnership and Chesterfield County represented the region and continued to build on this 20-year relationship with Japanese executives. A major prospect visit to the area followed shortly after this conference. Outreach Marketing Support A new initiative was generated to reconnect and build a new working partnership with the local commercial and industrial real estate community and the regional economic development community. New strategies and cooperation are underway to secure more government and military related project activity for the region. Marketing Strategy and Program Initiatives – 2008-09 For these reasons, the Outreach Marketing Team for the region is participating in the 90 Day Action Plan to reassess marketing objectives and targets, by industry cluster and geographic region. The short term strategy will focus on being nimble and flexible to take advantage of new trends and opportunities as they emerge. However, from a mid- and long-term perspective, the inherent strengths and assets of Greater Richmond will still hold sway and will offer appeal to the next generation of businesses and entrepreneurs. These businesses and their growth potential will set the stage for the next decade. Greater Richmond remains prepared to capture and generate more than its fair share. A creative way to bridge this gap between short term uncertainty and long term economic inevitability is a program that the Partnership has created with locally based 310 Marketing. This firm has built a national reputation for serving the direct marketing efforts of high profile economic development programs across the country. The original thrust of the firm was to organize and schedule marketing trips and appointments with businesses in targeted geographic regions for state, regional and local economic development professionals. This model has evolved into a more sophisticated approach based around the gathering of business intelligence, analysis and trend identification. The Partnership has contracted with 310 Marketing to become a part of the 90 Day Action Plan process and then to continue in supporting the execution of this plan. 310's professional analysts are contacting and interviewing C-level executives across the U.S. with specific focus on emerging business sectors that will dovetail with Greater Richmond's strengths and assets. This information will help make the Partnership's action plan a more real time, targeted prospect identification vehicle capitalizing on opportunities in Cleantech, alternative energies, military and defense, and telecommunications and data centers, for example. Outreach Marketing Activities for 2nd Half of 2008-09 The first opportunity to blend the old with the new was a late-January California marketing trip that included a previously attended international photonics and instrumentation show and a newly identified international specialty chemicals exhibition that has a new thrust on ‘Green' technologies and products. 310 Marketing and our UK consultants assisted in the setting of appointments with executives as well as the gathering of business intelligence. The semi-annual marketing program for the UK occurred in March this year and included a cooperative event with the Hampton Roads Economic Alliance revolving around the military and defense sectors. A marketing mission targeted at site locations consultants concentrated in southeastern United States occurred earlier in March visiting three states and involved Partnership and local economic development staff. At least quarterly, a marketing team will be visiting site consultants in different regions of the country. With recent successes with Japanese companies in the region and several projects in the pipeline, a marketing trip in cooperation with VEDP is scheduled for late spring. Based on business conditions closer to the trip, a visit to China or other Asian targets may be added. Germany is scheduled for April with the Hannover Messe serving as the anchor event. Other company visits will be scheduled in Germany as appropriate. The last fixed venue is BioInternational which will be held this year in Atlanta. Further adjustments and additions to the marketing calendar that emerge from the 90 Day Action Plan will be implemented as recommended by the Marketing Task Force.Business First return to top The Business First Greater Richmond team has interviewed more than 100 businesses since January 1 and is currently working to support dozens of area companies in a wide variety of areas. The information gathered during initial face-to-face meetings with business owners and CEOs reveals a number of trends that are influencing how we organize our resources to support existing business. As described in the Partnership's 90 Day Action Plan, we are focusing outreach and resources in two key areas – those companies with a defined growth strategy and businesses at risk who may need assistance in areas such as business planning, process improvement, or financing. Despite the troubling regional economic news, 95 percent of Richmond area businesses report a positive attitude toward the community. Even more encouraging is a continued commitment to invest and create new jobs in the region. Twenty-one percent of the respondents have plans to expand in the coming 18 months and one in four intend to add new positions in the coming year, collectively planning to invest more than $12 million and pledging to create more than 400 new jobs in the region. The goal of the Business First program is to help make those plans a reality for these growing firms and be a catalyst for other area businesses, introducing them to resources to help them take their businesses to the next level. Working with a network of service providers, the program has responded to more than 280 requests for assistance since its inception. Assisted firms have invested more than $43 million in the region and created or retained more than 650 jobs. Work continues to connect with even more businesses in the region. Watch in April for more information as we launch an awareness campaign highlighting Business First success stories, partner spotlights and profiles on the volunteers who support our efforts. If you would like to learn more or if your business would like to be interviewed by a Business First partner please contact Sara Dunnigan at sdunnigan@grpva.com or 343-6968. Marketing Communications return to top Strategic Marketing Communications Plan The Partnership launched an integrated marketing communications plan on July 1, 2008 outlining goals and action steps to enhance and coordinate the organization's communications tools. The two main goals are:
Promotional Materials Printed Publications Greater Richmond - A Visual Visit - Our “soft sell” pictorial and editorial publication for the families who will be relocating to our region incorporating images collected from the My Greater Richmond photo contest and local organizations. This piece was mailed as our holiday gift and has been very well received with additional copies requested. Greater Richmond – Day & Night 2008/2009 Calendar - Used a gift for investors and friends of the Partnership, the calendar showcases the region using photos from the photo contest. Foreign Affiliates Directory - A directory of our foreign affiliates has been and is used in support of our international marketing missions. Education in Greater Richmond - A new brochure focused on the education opportunities and quality the Greater Richmond region offers. This piece covers preschool through college and continuing education.Electronic Communications The grpva.com underwent a website analysis and now a redesign is underway. The planned launch is by July 1, 2009. A result of the action plan, the Partnership developed within 45 days an online centralized career resource center, RichmondJobNet.com. Considering workforce is often a number one consideration of businesses, it is in the Partnership's interest to help retain, train and recruit top talent for the region's success. The site is organized to simplify the job search process using a comprehensive listing of area job boards, tools and tips for job seekers including resume, cover letter and interview preparation. Resources for those interested in starting their own business are available, as is a comprehensive career event calendar including job fairs and educational opportunities. Those registered with RichmondJobNet.com have access to a free online career assessment tool, Career Concourse, provided by Chmura Economics' JobsEQ system. Career Concourse also allows registrants to upload their resumes. Currently over 1,200 individuals have registered with the site and over 540 have used the assessment tool. Since the site's launch on February 4th, there have been over 10,500 unique visitors and over 66,000 page views. Social media is a large component of the Partnership's marketing communications strategy. Currently we have over 260 fans on Facebook and over 370 followers on Twitter. The next phase is implementing BusinessEQ, an additional component of JobsEQ. Business EQ provides a single portal for businesses to promote employment opportunities and access workforce related resources. A business person can view pertinent information about the regional labor market specific to their industry and occupations they are seeking to employ. BusinessEQ also serves as an employer interface with the Career Concourse module so businesses can directly communicate with job-seekers. The business attraction and retention value of this tool for the Partnership is the ability to provide companies looking to expand or locate in Greater Richmond specific workforce information detailing education and job skill experience they seek to grow their business. Advertising Accolades
Public Relations The Partnership has had over 70 hits in the media since July, with Greg quoted in over 45 of those. He is contacted on a weekly basis by local and national media as a valuable resource. Greg provides insights or commentary and supplies statistical data developed by our Research department and staff. Recent examples include: Virginia Ranked No. 2 in U.S. for Business; Texas Takes Over the Top Spot in a Survey Conducted by CNBC - Richmond Times-Dispatch, 7/10/08 Gregory H. Wingfield, president and chief executive officer of the Greater Richmond Partnership, said accolades by an objective third party such as CNBC help with recruiting efforts. "It's a great testimony to the strength of the business climate in the commonwealth," said Wingfield, who was on a business recruiting trip in Germany yesterday. Reynolds plant may add 100 jobs; State incentives total $1.3 million – The (Louisville, Ky.) Courier Journal, 9/26/08 "We were not asked to prepare an incentive package, nor were we aware of the announced closing until yesterday," said Gregory H. Wingfield, president of the Greater Richmond Partnership Inc., that region's economic development arm. "It is not a good day. There are a lot of folks who are smarting at this point," he added. So goes the cutthroat competition that is economic development, Wingfield said. "We understand the global nature of business. Sometimes we win," he said. "Every once in a while, we get caught sideways and lose jobs." Insurance company bringing new jobs to Henrico county – WWBT-NBC12 TV interview, 3/6/09 "There's a lot of talent in the insurance arena that they can draw from. Top talent. I think that helped draw them here," said Gregory H. Wingfield of the Greater Richmond Partnership. "We've lost nearly 10,000 jobs in a year. So it's gonna take a dozen more announcements like this to start getting us back to a parity," said Wingfield. Partnership Refunding return to top The Greater Richmond Partnership's refunding campaign, “Globally Focused, Regionally Competitive” officially launched at the Partnership's Annual Meeting in October. Phase One of its private-sector fundraising campaign has closed, reaching 74 percent of its $9 million goal. A total of $6,619,814 has been raised from over 100 investors thus far. Phase Two of the campaign will commence in late 2009 or early 2010 which will return to the nearly 70 pending potential investors who represent an additional $3 million. The campaign funds the Greater Richmond Partnership, Inc.'s regional economic development programs for the next five years, beginning July 1, 2009 through June 30, 2014. The raised funds will be matched by the Partnership's four local government partners, the City of Richmond, and Counties of Chesterfield, Hanover and Henrico for a total budget of $18 million. Specific goals for the next five years include:
Our outreach and fundraising efforts were supported by the National Community Development Services, Inc. (NCDS) and the Campaign Leadership Committee comprised of leaders of the region's business community. The campaign committee was led by General Co-Chairs Bobby Ukrop, board member of the Partnership and president and CEO of Ukrop's Super Markets and Gail Letts, President and CEO of SunTrust Bank. As president of the Partnership, Greg participated in more than 200 fundraising calls. Administration return to top After nearly 25 years of dedicated service to Greater Richmond's economic development, Lillie Stratton retired in December 2008 from the Partnership. Valerie Derricott was promoted to fill Lillie's position as Corporate Secretary. Deidre Thurston was hired in the fall as the Partnership's new Information Specialist. Closing return to top In closing, if you have questions or advice for the Partnership, please contact us at (804) 643-3227 or at ghw@grpva.com. |
