Business Recruitment in a Rural Environment Powerpoint

1. Business Recruitment in a
Rural Environment
Brad N. Hall, IOM, EDI, MBA
Manager of External Affairs
Kentucky Power Company

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What is Economic Development?

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ED in East KY
 Challenges for ED in Eastern Kentucky
 Declining population
 Unorganized ED effort
 Infrastructure Challenges
 Opportunities for ED in Eastern Kentucky
 Available work force
 Low cost of living
 Affordable, available land
 Strong legislative representation

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Professional Analysis
• InSite Project – Phase I
– Must create a regional economic development organization – a
Champion
– Develop viable client-ready product
• InSite Project – Phase II
– Property Inventory
– Prioritized potential sites in Eastern KY
• InSite Project – Phase III
– Creating Two Client-Ready Industrial Parks
– Marion’s Branch Industrial Park – Pikeville
– Coalfields Industrial Park -- Hazard

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Economic Development

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How Can Eastern KY Compete?
• Sites and Buildings
• Marketing Strategies for Sites and Buildings
• Business Recruitment Strategies
• Business Retention Strategies

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Sites and Buildings
• Inventory Properties in the Region
– Your Community
– Your County
– Regional Industrial Parks
• You must have something to sell
– Itemize and know the characteristics of your
properties
– Determine the fatal flaws of the properties
• Know the stakeholders to assist with each
property

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Sites and Buidlings
Winning Site Characteristics
•Zoned industrial
•Proximity to infrastructure – with planned
improvements
– Excess sewer capacity (>250,000 GPD)
– Excess water capacity (>250,000 GPD)
– Fiber Capacity to the Site
– Excess Power Capacity to the Site (10 MW Optimal)
•Conduct all site due diligence
•Master plan the park

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Sites and Building
Eastern KY Industrial Sites
•Gateway Business Park
•Coalfields Industrial Park
•Honey Branch Industrial Park
•East Park
•Marion’s Branch Business Park
•Other parks in SOAR territory
Are we Planning Other Sites?

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Coalfields RFI Sample

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Coalfields RFI Sample

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Marketing Strategies

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Marketing Strategies
• Partner with other organizations
– Chambers, SKED, SOAR, Utilities, Industrial
Authorities, ADD’s, Kentucky United, and local
governments
• Keep Your Property Inventory Up-to-date
• Information must be readily available online
– Website dedicated to marketing properties
• Target Markets based on your assets

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Marketing Strategies

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Business Attraction

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Business Attraction
• Community Readiness
• Develop Your Response Team
– Chambers, SKED, SOAR, Utilities, Industrial
Authorities, ADD’s, and local governments
• A Website Dedicated to Your Properties
• Generate Prospects (Marketing)
– Cabinet for Economic Development
– Kentucky United
– Electrical Utilities
• Understand the RFI (Request For Info)

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Business Retention & Expansion

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Business Retention & Expansion
• Most ED occurs from existing businesses
• Does your Community have a BRE plan?
• Set up meetings with existing industry
• Know your industry’s supply chain
• Assist in making it easy for them to do business
• It is easier to keep the investment you have

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Recruiting Fundamentals
• Profit Driven – Investment for purpose of return
• Deadline driven – Both the site selection and the
project
• Competitive – Multiple location options
• Comprehensive – Complex decision involving
most functional areas
• Risk averse – “Shovel Ready”

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Who Is Responsible for Doing All
This Work in Our Region?
• County Government?
• City Government?
• Private Industry?
• Chambers of Commerce?
• Local Economic Developers?
• Utility Providers?
Someone must be in charge of the ED effort!

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What will make you a Winner?

22. Questions?
Brad N. Hall, IOM, EDI, MBA
Kentucky Power
Manager of External Affairs
Email: bnhall@aep.com
Office: 606-437-3790