market valuation and action plan presented to the city of lufkin economic development...

Market Valuation and Action Plan Presented to the City of Lufkin Economic Development Corporation/Angelina Partnership

Market Valuation and Action Plan Project’s

Intended Results

Market Valuation and Action Plan Strengths/Weaknesses/Opportunities/Threats

Business Climate Workforce/Education Infrastructure/Sites

Quality of LifeEconomic

Development and Marketing

Market Valuation and Action Plan

Stakeholders and Businesses Interviewed Lufkin/Angelina ChamberCity of Lufkin Appointed OfficialCity of Lufkin Elected Official(s)Angelina County OfficialAngelina CollegeAngelina Hardwood SalesLufkin Independent School DistrictMemorial HospitalAngelina and Neches River Railroad CompanyCoca-ColaBrookshire BrothersLockheed MartinLufkin High SchoolTemple InlandLufkin IndustriesVertisWoodland Heights Medical CenterAtkinson CandyExpress StaffingSpherion StaffingStephen F. Austin University


Business Climate

StrengthsAll Elements of the Community Work TogetherPro Growth AttitudeIncentives in Place and Willingness to ImplementTexas is Strong Business StateAvailable LandEngaged Community and EDCCommunity Appears Larger than PopulationMedical Facilities Present Suggest Regional HubRegional Retail/Service Hub

WeaknessesNone Cited


Business Climate

OpportunitiesEDC Can Positively Impact Business ClimateOngoing Success Will Create More OpportunitiesPotential Discussion of Air Service to LufkinEnhanced Community College/SFA/Local School Districts Collaborative Efforts Will Create More Business OpportunitiesMore Connectivity to Southeast Texas' Ports

ThreatsLack of Interstate Highway (Perception)"Perception of Piney Woods Curtain"Lack of "Brand or Image" in MarketplaceLack of Targeted/Focused Economic Development Marketing ProgramPotential for Building Permit Issues


Workforce/Education

StrengthsAll 6 Districts are "Recognized"Outstanding Relationship Between Community and Angelina CollegeMagnet Schools Receive High MarksHigher Skills Present in the WorkforceTraining for Needed Skills AvailableWorkforce Commutes from Within RegionBusiness and WIB Work WellPilot Project (s) Get Workers Ramped Quickly(Nursing is Example)

WeaknessesLack of Quality Customer Service TrainingLack of Integration in Business Community with Pre-K--12Soft Skills Need ImprovementLarge Pool of Experienced Workers not AvailableTradition of Heavy Industry Orientation While Economy ShiftsPerception of the Pine Forest Curtain in Terms of Education/Workforce


OpportunitiesMore Regional Approaches to

Education-Get 6 Districts on Same Page

More Integration Between All Education and Business Community

More Integration With Stephen F, Austin

Consideration of Career AcademyRecognize Changing Economy and

Have Education/Workforce to Meet the Change

Continue Efforts from Manufacturing to Imagineering

Workforce/Education

ThreatsLack of Understanding and Meeting the Needs of a Changing Economy in Workforce and EducationNot Recognizing New Measurements for Success in a Regional EconomyContinuation of the "Sawmill Mentality”


Infrastructure/Sites/BuildingsInfrastructure/Sites/Buildings

StrengthsExcess Capacities in Water/SewerNewly developed "Large Rail Site"New Industrial Park(s)Reasonable Inventory of Quality BuildingsGood Highway Access Inter-City and Intra CityAvailableLand Within and Outside of EDC Controlof Varying Size/LocationsClose Proximity to Houston Air HubEnhanced Appearance of Highways

WeaknessesLack of InterstateLack of Commercial Air Service


Infrastructure/Sites/BuildingsInfrastructure/Sites/Buildings

OpportunitiesConsideration of Local/Regional Commercial Air ServiceEnhanced Public/Private Partnerships to Provide Sites/Buildings to End Users--Risk/EntrepreneurialCreate Locations for "Changing Economy" Business/Industry

ThreatsPerception of Lack of Business/Industrial Locations Within the "Pine Curtain"Lack of Willingness to Continue Development of Sites


Quality of Life

Strengths"Gem of the Region"Medical Regional HubRegional Retail/Restaurant HubGreat Parks/ZooOutdoor Recreation is SuperbOutstanding Golf CoursesFoundations Provide FundingAngelina College is Major Asset to Quality of LifeAbundance of "New" Motels

WeaknessesConcern for Young Professionals Finding Lufkin Adequate for Their NeedsOutmigration of Youth to Larger Cities


Quality of Life

OpportunitiesAdditional Tourism Marketing Could Lure New FirmsFurther Engagement with Angelina College and Other Educational ResourcesMarket Quality of Life as Part of EDC InventoryContinuing Beautification Effort(s)Enhance Downtown Appearance

ThreatsLack of Engagement of Public on Beautification IssuesLack of Focus on DowntownPoor Attendance at Some Venues Could Cause Apathy


Economic Development and MarketingEconomic Development and Marketing

StrengthsQuality Leadership at Policy and Staff LevelsConsiderable Improvement Over Previous YearsCommunity has the IngredientsHave Funds for "Closing the Deal"Underway with New/Higher Level Jobs

WeaknessesLack of National ImageNo Plan in Place"Scatter shoot vs. Target"Outside the "Houston Commute Pattern"


Economic Development and MarketingEconomic Development and Marketing

OpportunitiesExamine Regional Linkages for EDCreate even more "deal closing" approachesIncrease Marketing to Targets from StrategyDevelop Relationships with Corporate Decision MakersBecome More Engaged in Marketing Functions Nationally

ThreatsApathyInadequate Number of Staff for Enhanced E.D. ActivitiesSales Tax Revenue DecreasingLack of "Risk Taking" in E.D. ProjectsLack of Understanding of E.D. by Larger Community


Summary of SWOT

Strengths are far greater than WeaknessesOpportunities are significant in economic development termsThreats relate more to apathy than impediments to development

Focus on Workforce/EducationTake advantage of Strengths


Targeted Industries

Are there local assets that give specific industries a competitive edge? What clusters currently exist locally, and are they growing?

Are existing or emerging local clusters growing nationally or undergoing geographic dislocation?

Communities are as unique as people

Does the industry match community goals?


Primary Targets for Lufkin/Angelina County

333294-333111*

Food Product Machinery

Manufacturing

54162*

Environmental Consulting

Services/Engineering

54171*

Research and Development in the

Physical, Engineering, and

Life Sciences

54141-3*

Interior and Graphic Design Services

5614*

Business Support Services/Back Offices

Market Valuation and Action Plan Secondary Targets for Lufkin/Angelina

County115112*Soil Preparation, Planting, and Cultivating

115114*Postharvest Crop Activities (except Cotton Ginning)

33321*Sawmill and Woodworking Machinery Manufacturing

3327*Machine Shops; Turned Product; and Screw, Nut, and Bolt Manufacturing

484122*General Freight Trucking, Long-Distance, Less Than Truckload

333993*Packaging Machinery Manufacturing

3335*Metalworking Machinery Manufacturing


Organizational Analysis and Marketing Plan

Lufkin EDC/Angelina Partnership Board of

Directors

Mayor/City Council

President/CEO

Director of Economic Development

Project Manager for Economic

Development

Economic Development Assistant

In order to adequately meet this Program of Action/Work, the Consultant Team is recommending an additional economic development professional. Please see Appendix 1 in the Study for supporting research.

Market Valuation and Action Plan Internal Marketing

Create and Sustain an Ongoing Business Retention and Expansion Program—BREPCreate and Sustain an Ongoing Business Retention and Expansion Program—BREP

Create (Implement) and Sustain an Ongoing Business Retention/Expansion Program

Create and Sustain an Ongoing Business Retention and Expansion Program—BREPCreate and Sustain an Ongoing Business Retention and Expansion Program—BREPCreate and Sustain an Ongoing Business Retention and Expansion Program—BREPCreate and Sustain an Ongoing Business Retention and Expansion Program—BREP

Create a BREP Committee

Members of this Committee accompany staff on visits to local business and industry

Establish a goal of at least 2 BRE Visits/ Week annualized

This will total over 100 visits per year of

differently sized firms!

The President/CEO should visit the higher profile firms with the BREP Committee Include elected officials

Utilize a standard questionnaire for all visits tabulating the results for

internal usage--do problems exist? How can the ED

organization help?

Identify vendors for marketing purposes!

Expansion?

Work with the company to

overcome issues, develop leads, and

liaison with government!

Market Valuation and Action Plan Internal Marketing

Develop a Workforce/Business RoundtableThe Group should be comprised of the presidents of Angelina College, SFA, business and industry leaders, WIB representatives, and the economic development team. Effort should be undertaken to get all the educational/business/economic development “players” in sync with the workforce/educational needs of today and the future.This sends a strong message to prospects that Lufkin/Angelina recognize the importance of education and workforce in economic development!

Continue the ongoing efforts of utilizing press releases. This gets the word out to the local community as to what the economic development team is doing and accomplishing.


External MarketingEstablishing the Effort

• Are inquires increasing as a result of the marketing campaign? • Are site visits increasing as a result of the marketing campaign? • Is the Lufkin EDC/Angelina ED Partnership submitting more

proposals as a result of the marketing campaign? • Is Lufkin/Angelina County becoming a “finalist in the site

selection process” as a result of the marketing campaign? • Is Lufkin/Angelina County locating (or expanding) more firms as

a result of the marketing campaign?

Market Valuation and Action Plan External MarketingMBG urges the Lufkin EDC to join these organizations and

participate:• CoreNet Global• Industrial Asset Management CouncilCoreNet alleges its membership consists of the following:• Members represent sixty percent of Fortune/Global 1000 companies • Our executives manage more than 750 billion square feet of real estate, worth $1.2

trillion • Individual members typically manage 20 million square feet • We are the only association that caters to a cross section of all industries, including

retail, life sciences/pharma, industrial/manufacturing, hi-tech and government.

IAMC alleges its membership consists of the following:3M, Alcoa Inc., Air Products and Chemicals Inc., BASF Corporation, Frito Lay, General

Mills, Hewlett Packard, Honda of America Manufacturing, Johnson & Johnson Pharmaceuticals Group, The Linde Group, Inc., Pfizer, The ServiceMaster Company, Weyerhaeuser Company and Wyeth and many other large industrial firms. Texas has the most members from within the economic development ranks!

Market Valuation and Action Plan External MarketingThe Lufkin EDC is a member of Team Texas—engage more fully and participate with

Team Texas at the IAMC venues and other venues! The Lufkin EDC is a member of Texas ONE—engage more fully and participate with

Texas ONE at their venues, including site selector visits and corporate real estate executive calls!

Potential Upcoming EventsLos Angeles, Chicago, New York, Albuquerque and others cited in the Market

Valuation and Action Plan. Consider global marketing with allies.Familiarization Tours for decision makers within 3-4 hours drive of Lufkin/Angelina

County. Invite groups of 8-10 persons in for golf outings, hunting, and other events oriented toward familiarizing decision makers with Lufkin/Angelina County.

Create and distribute a Lufkin EDC/Angelina ED Partnership Newsletter electronically monthly or quarterly.


Year 1 Join CoreNet/IAMC and attend minimum 2 events• Conduct a Marketing Trip with Allies/Regional/State• Host a Prospect Function in Lufkin/Angelina Co.• Attend at least 1 Trade Show• Create and Distribute Newsletter to Decision-Makers• Research Global Opportunities

Lufkin/Angelina County Marketing Plan

Years 1-5


Year 2

•Increase Marketing Trips/Site Selector Visits

•Participate in an International Event with Allies

•Further Engagement w/CoreNet/IAMC

•Host "Larger or More Event(s) in Lufkin/Angelina County"


Year 3• Evaluate Efforts and Adjust as Needed

• Continue CoreNet/IAMC-sponsorship options within those organizations; perhaps w/Allies

• Continue /Expand Marketing Trips /Site Selector Visits w/Allies

• Expand Trade Shows, if beneficial


Year 4• Continue Year 3 Efforts as Evaluated

• Develop Revised Strategy Based upon Review of Leads/Prospect Visits/Proposals/Projects

• Be Flexible and Creative/Adaptive

Market Valuation and Action Plan Year 5• Overall Evaluation of Years 1-4

• Implement Strategy that Works!

• Delete Non-Productive Activities


ConclusionLufkin/Angelina County enjoys a solid foundation upon which to

expand its economic development effort.The framework for economic development for Lufkin/Angelina

County has been laid through the EDC and the Angelina Partnership

Lufkin/Angelina County should continue its emphasis on youth and developing needed skills for young people.

Lufkin/Angelina County possess the assets to engage further with regional and state partners in order to further enhance the economic development effort.

Recognition of the city/ county’s assets and opportunities and performing a marketing strategy that capitalizes upon them, while minimizing the weaknesses and threats, will net economic development rewards.

This Market Valuation and Action Plan will serve as the formalized vision or “master plan of economic development” in the years to come!

Market Valuation and Action Plan Thank you very much for the opportunity to

assist in the growth of the Lufkin/Angelina economy!

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•Comments:

market valuation and action plan presented to the city of lufkin economic development...

Documents

market valuation

action plan opportunities

action plan stakeholders

action plan projects

marketing plan

marketing slide

business community

business opportunities