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Attraction activities usually start with an analysis of targeted industries or clusters. This process examines the growing industrial segments of the national economy and compares those growth sectors with the local community’s industrial base. It examines why those sectors are growing (or not growing) in the local community. It determines why some segments are not suited for the local economy (too distant from key markets, workforce shortages, etc.) and what gaps might be filled to make the local community more desirable to these companies. It identifies companies that are a good fit for the community and that can diversify the local economic base.
When TREO launched its Economic Blueprint, the report identified 10 industry clusters that were evaluated as having the greatest business development potential in the Tucson region. In a phased approach, that list has now been narrowed down to four industry clusters that TREO proactively targets for business development opportunities. A strong focus on these industries will be critical to diversifying our economy.
The four targeted industries are:
1) Aerospace & Defense: Tucson is among the top 5 regions in the U.S. for this industry.
2) Biotechnology: Regional assets are growing and the state strategy is already strong.
3) Solar: This growing industry is a natural fit for the Tucson region.
4) Transportation & Logistics: Tucson is building on its strategic location for both national and international business.
Business attraction programs then develop an advertising and marketing effort which can include the following:
- Web site development
- Print advertising
- Recruitment trips
- Media or CD production
- Economic briefings
- Site selection conference attendance
- Trade show attendance
- Public and media relations
The marketing efforts aim to generate interest from companies to relocate to our region.
Special thanks to Tom Clark of the Metro Denver Development Corp. for writing this
piece originally, and allowing TREO's adaptation and use. |