Page 62 - FDI Alliance International Magazine. Winter 2020 Digital Interactive Issue.

How often do you hear politicians proclaim “If elected I will bring these criteria that St. Mary Parish focuses its efforts on to attract
diversification home” to expand the growth of our local economy? new businesses.
They believe that large international companies will come and build
The parish/county promotion is critical. Keep your location in the
an auto manufacturing plant or a large chemical complex creating a
thousand direct jobs and local suppliers creating hundreds more. As news through articles in site selection magazines, have an active
noble as their proclamation is, they are clueless about what it takes. website, send out periodic newsletters and utilize the social media
outlets. A critical avenue is word of mouth from existing companies.
What is it that makes your location attractive? These companies They won’t promote the parish to their competitors but will to their
have their own check lists and many US Consultants to narrow their suppliers and other companies they have a relationship with. I call
choices. The check list includes most of the following: this the “Catch if you Can” method as you have limited control
over these tools.
ࣿ Workforce – availability, quality and skills (ready workforce,
day one)
There is the “Target Industry” method where you match up community
ࣿ Sites – ready to start building or leasing public site skills with industries that are growing and may have a competitive
advantage by locating in your area. As the local entity St. Mary
t
ࣿ Transporta ion logistics (Multi-Model)
Parish has leveraged its resources with other economic development
ࣿ Utilities (electricity, natural gas, water, sewer and process water…)
agencies such as the regional agencies, the
ࣿ Raw Materials availability – metals, chemicals…
ࣿ Environmental regulations State’s Economic Development agency and the electric utilities.
An electric utility has teamed up with the parishes regional group
ࣿ Quality of Life to raise a family, community safety education, and actually sets up appointments with specific clients in industries
activities, cleanliness….
that have been identified in a target study. In this situation a
ࣿ Cost of doing business – taxes, permits and other fees direct meeting with the potential client gives you the best shot at a
ࣿ Incentives diversification. This is a new company, yet it requires many of the
strengths on your checklist. In a community with heavy manufacturing,
ࣿ A welcoming community making it easier to get through the
shipbuilding, oil field, process chemicals and agriculture industries
administrative process.
many diversifications will still remain close to home. It won’t be
As the consultant or the company executive location team starts a massive computer assembly plant. There are also companies
checking off the boxes the options are narrowed quickly. What are around that offer leads for clients desiring to relocate. This may be
the chances that your location will make it to the final three? It is another source of diversification.

62. FDI ALLIANCE INTERNATIONAL