The Action Plan & Budget

 

2007 BUDGET SUMMARY

 REVENUE

Contributions..................................................................... $45,000

Interest...............................................................................     $500

TOTAL...............................................................................  $45,500

 

EXPENSES

Business Attraction............................................................. $14,000

Business Retention & Expansion............................................................................  $6,000

Small Business Development.............................................. $10,000

Downtown Development.................................................. $15,000

TOTAL...................................................................................$40,000

 

NET REVENUE (EXPENSE).........................................................   $500

 

  

 

BUDGET & ACTION PLAN DETAIL

 

Section I:  REVENUE PLANS

 Contributions – Member contributions, which range from $2,000 to $5,000 a piece, are budgeted at the same level as 2004 actual contributions, PLUS two new members (total of $45,000).

 Interest – Includes both bank account interest and earnings from MGP’s investment in an industrial building on East Pike. (total of $500) 

TOTAL 2007 REVENUE:  $40,000

 

  

Section II:  EXPENSE PLANS

 Business Attraction

 Key Strategies:   

1. Create awareness about the area and help generate development leads that can be pursued by local government and developers.
2. Attract industries that will have maximum economic impact on the community
3. Market to multipliers (site selection consultants, developers, investors, corporate real estate managers, and commercial and industrial realtors).
4. Employ direct mail to communicate regularly with multipliers.
5. Develop recruitment targets by industry.
6. Coordinate marketing strategies with broader state and regional efforts.
7. Target the Columbus market for business expansions.
8. Take advantage of the interstate as an opportunity for general visibility and advertising.
9. Sell the area by telling local development success stories to multipliers and media.
10. Emphasize the Internet in development marketing.

  Specific Activities:

 Marketing and Advertising - $14,000

• Sponsor NAIOP email newsletter
• Renovate economic development web site
• Develop and distribute a new East Pointe Park brochure and web site
• Distribute four “Industry News” direct mail pieces
• Participate in the statewide Team Ohio marketing program of OEDA
• Participate in existing I-70 billboard project
• Host development prospects as required

 

 

Business Retention & Expansion

 Key Strategies: 

1. Make existing business retention and growth the top priority since they create on average over 75% of new jobs in a community.
2. Disseminate development information as a fundamental service to existing businesses.
3. Maintain personal contact with executives of major employers, particularly manufacturers, in order to prevent retention problems and to offer assistance.
4. Systematically identify and track concerns of employers through surveys and studies.
5. Develop customer and supplier linkages when it both aids local companies and serves as an attraction strategy.
6. Show appreciation to officials at the corporate headquarters of local plants and facilities for maintaining their presence in the community.
7. Recognize and celebrate business growth, local development successes and investments in the community.
8. Be active on legislative and regulatory issues that affect the competitiveness of area companies.
9. Partner with other agencies to deliver coordinated assistance to area businesses.

 Specific Activities:

 Retention - $6,000

• R & E visits
• R & E survey on-line

·         ACES awards program

·         Economic Outlook event

·         Legislative Breakfast

·         Manufacturer’s Council

·         Wage & benefit survey

 

Small Business Development

 Key Strategies: 

1. Serve as a one-stop referral point for small business start-ups or existing small companies that require assistance.
2. Help existing small businesses grow to be larger businesses with greater economic impact (small businesses create most new jobs nationally).
3. Encourage the creation and growth of small businesses of local origin.
4. Create a positive local environment for small, independent businesses in terms of legislation and regulation, services and assistance, and public recognition.
5. Focus on assisting small business start-ups with the potential to import sales dollars and therefore wealth to area.
6. Encourage the availability of additional equity capital through the East Central Ohio Angel Fund.

 Specific Activities:

 Muskingum County Business Incubator - $10,000

·         Financially support Incubator operations

  

Downtown Development

 Key Strategies: 

1. Help revitalize downtown Zanesville since it represents to visitors and prospective businesses the level of vitality of the entire community
2. Support downtown business attraction and retention through funding for marketing activities.

 Specific Activities: 

Business Attraction - $10,000

• Advertising
• Marketing materials

  

TOTAL 2007 EXPENSES:  $40,000

TOTAL 2007 REVENUE:  $40,000 

NET REVENUE(EXPENSE):  $500