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The Missoula Economic Partnership 2011-2016 Strategic Plan
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Missoula Economic Partnership lays out plans after president’s exit
The Missoula Economic Partnership laid out its plans for success to investors Wednesday night, focusing on the future just one day after announcing its first president and Chief Executive Officer Jim Bowman was departing after six months on the job.
The first annual meeting of the economic development initiative included a public presentation of the project’s strategic goals and the final selection of its inaugural 15-person board, including seven officers and eight directors.
Bowman’s departure was not mentioned in the public portion of the meeting.
By JENNA CEDERBERG of the Missoulian
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The Vision of
the Partnership
It is the belief of this organization that the prosperity of our community is in our hands and that we have the
primary responsibility for advancing a sustainable, vibrant and diversified regional economy. To that end, we
aggressively pursue new and expanding business investment opportunities, taking an innovative, collaborative,
and highly professional approach. The Missoula Economic Partnership http://www.missoulaworks.org is recognized regionally and nationally
as one of the country’s most progressive economic development organizations, responding to job creators
in a timely and appropriate manner.
The Mission of the Partnership
The Missoula Economic Partnership is a unique public/private partnership that works collaboratively and
strategically to facilitate increased prosperity through business development while enhancing the business
environment and quality of life in our community.
The Values of
the Partnership
We pride ourselves in:
* Our collaborative approach to working with other organizations and government agencies in the region.
* Our integrity and confidentiality.
* Our transparency and accountability through a results-oriented approach.
* Our stewardship of resources through quality project management.
* Our excellent service to every business, organization, investor and partner.
* Our professionalism and quality of operation.
* Our encouragement of visionary leadership leading to a shared vision for the economic development
of the region.
* Our appreciation of the region’s unique "sense of place."
* Our innovative approach to local development and the willingness to take risks to make positive
things happen.
The Partnership Strategic Plan
for 2011-2016
The Missoula Economic Partnership http://www.missoulaworks.org Strategic Plan is a collaborative effort based
on results from work sessions and workshops conducted during the Best Place
Project launch, results from additional sessions with the founding investors and
staff, and supportive input from strategic planning consultants. Stated goals are
based on established priorities. Associated outcomes and action items were
developed in detail by the Partnership staff. This plan is dated through 2016,
but it’s important to note that economic development is a long-term commitment.
Many of the actions outlined here will be ongoing, even beyond 2016.
Essential Startup
Operational Requirements
* Hire key staff.
* Create an efficient office operation.
* Develop personnel and financial standards.
* Finalize board governance issues including board membership & bylaws.
* Develop and implement a comprehensive marketing and communications
plan that includes messages to both internal and external audiences.
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Goal #1:
The existing Business Expansion and Retention program (BEAR) is effectively
working with local firms with a focus on high-growth, high-impact, highly
innovative and higher-paying jobs.
Strategy: Support the growth of specific, high-growth, "gazelle" businesses currently operating
in the Missoula area. (Firms that produce a product or service that is "exported" outside of
Missoula while the associated wages and capital investment remain.)
Outcomes
* The Partnership establishes a formal BEAR program and makes direct contact through on-site visits with at least 50 companies
that meet high-growth, high-impact criteria.
* Existing firms served directly benefit from the BEAR program to the extent that many are expanding and creating well-paying jobs.
* Participating at-risk businesses are retained.
* The region’s business assistance resources/programs are effectively promoted and efficiently managed, placing the needs of
businesses first.
* Missoula’s reputation grows as a place where businesses can thrive.
Action Items
1. Serve as a "single point of contact" for businesses and the community of business-support providers.
2. Conduct annual visits with at least 50 businesses to learn how best to support their growth strategies.
3. Provide ongoing access to local, state and national assistance and incentive programs with a goal of providing direct support to a minimum
of 50 businesses each year.
4. Identify and enlist partners and governmental agencies to resolve general local/regional issues that may be limiting existing business growth.
5. Develop additional support materials to attract talent to the region, including the relocation of professionals with local roots.
6. Increase the level of business community engagement with Missoula County Public Schools and other education programs.
7. Gather together key business and manufacturing groups to identify common obstacles and opportunities — such as recognizing supplier gaps,
enhancing the area’s business-to-business contacts, evaluating co-op purchasing opportunities, and encouraging other collaborative efforts.
8. Develop ongoing programs to help companies identify and access regional, national and global new market opportunities. Help identify and provide
access to quality suppliers and vendors, along with adopting cost-effective "green" initiatives.
9. Work closely with local manufacturing managers to develop an ongoing corporate headquarters contact program to promote the greater Missoula
area as an attractive place for new contract placement and investment.
10. Administer online Executive Pulse contact management program in support of BEAR.
11. Conduct comprehensive staff (and others) training for Executive Pulse.
12. Recruit and train the Partnership’s strategic partners to assist with business visitations.
13. Acquire database to help identify businesses to be visited.
14. Research and identify companies to be visited with an emphasis on growth industries.
15. Develop a public relations campaign to promote the BEAR program to the business community.
16. Create a report that tabulates results of information and actions taken.
17. Plan events for Industry Appreciation Week to showcase and honor business excellence, and to report on economic trends identified through
the BEAR process.
18. Disseminate Business Visitation R eport with aggregate information on trends, problems and opportunities to participating companies, the business
community and others.
19. Develop matrix of specific business resources to assist individual businesses with their needs.
20. Create customized business development programs tailored to assist firms in need.
21. Participate in the economic gardening initiative with BitterRoot R egional Economic Development District (BREDD).
Strategy: Attract new businesses to enhance and diversify the local economic base.
Outcomes
* The Partnership is favorably viewed by professional site selectors and prospective new business investors.
* The number of prospect leads generated significantly increases annually.
* Feedback from prospect visits improves.
* Target industry sectors become well defined.
Action Items
1. Create and maintain a leading-edge Web portal to be the region’s "front door."
2. Acquire and manage content, functionality and look and feel of a website, as well as real estate and demographic search tools.
3. Utilize Executive Pulse for contact management.
4. Document lead and prospect generation.
5. Research and define targeted industries that are a good "fit" for Missoula.
6. Research and develop a compendium of key economic resources and critical business information and statistics.
7. Create a prospective company database.
8. Develop project criteria/intake process that qualifies leads.
9. Initiate proactive personal contact with targeted prospects.
10. Build partnerships with other organizations to maximize use of our community’s business development resources.
11. Create a Rapid Response Team and Visitation Program to professionally manage incoming prospect trips.
12. Obtain nonpaid national and international media exposure.
13. Conduct multiple annual business prospecting missions and trade events to reach site selection consultants.
14. Host annual inbound recruitment mission for business site decision-makers with top-level Partnership investors included
in each event.
15. Conduct a competitive analysis (i.e., Billings, Bozeman, Spokane, Boise, Idaho F alls, Tri-Cities, Provo).
16. Investigate opportunities to recruit prospective firms through Montana alumni who own businesses and desire to relocate/expand
at home in Missoula and Montana.
17. Create a program to identify visiting out-of-town business owners who would have an interest in Missoula (i.e., hotel flyer, tourist
events presence).
18. Create fresh, breakthrough marketing materials accompanied by accurate, current economic data with our distinctive Missoula area
style.
19. Conduct and evaluate mock site visits with strategic partners and leaders and/or consultant.
20. Enhance relationship with the Montana Department of Commerce.
21. Develop direct locally funded business-attraction incentive programs.
22. Conduct "lost deal" follow-up for lessons learned.
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Goal #2:
The Business Attraction Program successfully recruits new and diverse business
investment and that creates higher-wage employment.
Strategy: Increase innovation, entrepreneurship and high-impact small business support.
This will become the region’s innovation-based economic development strategy.
Outcomes
* Successfully launch innovation-based economic development strategy.
* Become known as a catalyst for entrepreneurial activity.
* Sustain an effective entrepreneurial program.
* Develop a stronger collaborative relationship with The University of Montana in support of its economic development focus.
* Successfully influence access to risk capital.
* Establish a talent pool of mentors who directly provide intense coaching to emerging, fast-growing and highly technological
companies and entrepreneurs.
* Connect entrepreneurs to critical assets in order to remove barriers to growth, to drive up revenues, and to increase high-paying
employment opportunities.
* Work closely with The University of Montana and the Montana Technology Enterprise Center to effectuate successful incubation
and spin out of high-growth firms, and to create a center of business innovation and entrepreneurial excellence.
Action Items
1. Enhance existing efforts and develop new initiatives to improve our area’s overall innovation/entrepreneurship climate and to
provide specific opportunities targeted to highly innovative and technological emerging entrepreneurs.
2. Deepen the existing relationship with the University of Montana Technology Transfer Office and the School of Business and
other UM degree programs that support the development of entrepreneurs.
3. Evaluate innovation and technology opportunities, including alternative energy and "green" initiatives that best fit the
Missoula area.
4. Implement a program for "Stage 2" entrepreneurs (firms with $1 million to $25 million in revenue) with the potential for
significant growth.
5. Expand funding opportunities for entrepreneurs by developing equity capital funding for early stage investments through
"angel" networks.
6. Expand and enhance existing idea evaluation (pitch night) programs that connect entrepreneurs to successful business
people who then offer guidance on development of new businesses around those ideas.
7. Provide direct service and support to UM for the ongoing operations of Montana Technology Enterprise Center.
8. Develop an Entrepreneurial Task F orce to be the voice for the region’s entrepreneurs.
9. Connect with nationally recognized tech-led programs and professionals.
10. Support broadband connectivity expansion and enhancement efforts.
11. Investigate the potential impact of the Montana Super Computer for Missoula.
12. Provide financial and technical resources for qualified entrepreneurs who face the "Valley of Death."
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Goal #3:
In partnership with The University of Montana, the Missoula Economic Partnership
creates a successful innovation-based program stimulating high-impact,
entrepreneurial activity (with a focus on commercialization of intellectual property
combined with risk capital and talent development).
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Goal #4:
Maintain a high level of investor confidence by establishing the highest level of
transparency, rapid and accurate communications, and complete accountability.
Strategy: Establish a strong investor relations and communications program.
Outcomes
* Missoula’s "first team" of business and elected leaders are actively keeping the Partnership Strategic Plan on task, on time and
on budget.
* The Partnership Board of Directors is providing clear oversight and accountability.
* All investors are active members of the Partnership Economic Development Advisory Council and have opportunities to serve on
Partnership committees, task forces and councils.
* Concise and consistent information on the status and efforts of the Partnership are being communicated regularly to all investors.
* Investors believe they are receiving a sufficient return on investment.
Action Items
1. Hire the professional staff necessary to implement the strategies.
2. Keep the entire economic development initiative fresh and responsive to market changes and opportunities during its initial
five years.
3. Create a governing board consisting of financial investors (public and private).
4. Keep all investors "in the loop" and provide meaningful and attractive opportunities for participation for all levels of investors.
5. R emain accountable to investors by generating meaningful updates on economic impacts achieved and also on
measurable ROI.
6. Perform annual benchmarking to measure productivity and effectiveness; produce special events, orientations, regular periodic
reports and an informative series of newsletters.
Strategy: Place talent as the most important element for economic development for Missoula.
Outcomes
* Develop a strong, demonstrated collaborative relationship among the workforce development and education providers.
* Document the skill base of our area’s talent pool.
* Demonstrate the successful recruitment of talent.
Action Items
1. Develop a task force to conduct situation analysis and create a collaborative environment for workforce development.
2. Recruit young professionals and other technology-based talents to Missoula.
3. Investigate a "retiree talent pool" program.
4. Investigate conducting a labor-shed analysis.
5. Utilize Executive Pulse and the BEAR program to identify workforce needs.
6. Link with the Missoula County Public Schools to find ways to connect our business clients with students and programs
(i.e., 21st Century Model for Change).
7. Lead a community effort to secure the much-needed funding for the UM College of Technology.
8. Introduce the concept of becoming a talent-driven community.
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Goal #5:
Facilitate workforce development initiatives with an economic development focus
and become known as a talent-driven community.
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Goal #6:
The Partnership is directly involved in large land use and reuse development
opportunities that create significant economic impact.
Strategy: Selectively participate in initiatives that improve the community’s
attractiveness for further significant investment.
Outcomes
* The Partnership has directly assisted in land use planning for large parcels of real estate that create significant numbers of jobs and
attract major capital investment.
* Businesses have been sited at these unique locations with the Partnership’s direct assistance.
Action Items
1. Create Partnership committee to consider and select catalytic-worthy projects involving real estate development and determine the
Partnership’s level of involvement.
2. Define role and responsibilities for the Smurfit-Stone Container Corp. facility’s planning and reuse.
3. Define role and responsibilities for the Stimson Lumber Company site’s planning and reuse.
4. Inventory all available sites and buildings and aggressively market the Missoula County Industrial Park and the city of Missoula’s
redevelopment districts.
5. Define the role of the Partnership with Missoula International Airport Authority and its industrial park.
PRIORITY
OUTCOMES:
Priority outcomes are listed in order of importance as perceived by the Partnership
board. Organizational outcomes are entirely within the Partnership’s control. Regional
outcomes are not necessarily within the control of the Partnership and its activities.
ORGANIZATIONAL
1. The Partnership has an effective business expansion and retention program, and works closely with
existing businesses and industries to help them grow.
2. The recruitment activity of the Partnership is focused on those employers with higher-than-average
wages and that provide expanded opportunities for the "underemployed" and the more skilled and
educated workforce.
3. Our regional economic development program is aggressive and effective in its efforts to attract and
retain job growth and capital investment.
4. We target those firms that help to diversify and grow the regional economy.
5. We expand funding opportunities for entrepreneurs by developing venture capital and "angel" networks.
6. We serve as a core facilitator of cooperative economic development activity between local government
and development organizations that lead to resolving local and regional issues that may be negatively
impacting the business climate.
7. We work with the community and its various organizations to create an entrepreneurial culture that
provides strong support for entrepreneurial activity.
8. Our website is leading-edge, meeting the needs of business investors, site selectors, the public, other
development organizations, etc.
9. We have taken the lead on the development of a clearly articulated "shared vision" for the region’s
future growth and development.
10. We have strategically positioned Missoula’s people and their education, experience and skills as
THE most important place-based asset: A Talent-driven Community.
REGIONAL
1. The region’s standard of living as reflected in its per capita income has grown faster than that
of the state.
2. The regional economy has a healthy diversity that enables it to weather economic downturns
and that continues to create wealth.
3. The quality of life continues to be a major draw for businesses and residents.
4. The recruitment of new business and industry is targeted to those that have a "best fit" with the
assets of the region, are high growth and provide higher-paying wages.
5. The region provides strong support for entrepreneurial activity (an entrepreneurial culture).
6. The Missoula Economic Partnership has an effective business retention and expansion program,
and works closely with existing businesses and industries.
7. The quality of new job activity provides expanded opportunities for the "underemployed" and for
a more skilled and educated workforce.
8. Local government supports business and economic development through its policies, practices
and code improvement while protecting the quality of life.
9. The cost and availability of air travel is competitive with other metropolitan areas in the Mountain West.
10. Average wages for new jobs are above the state average and close to the national average.
THE MISSOULA ECONOMIC PARTNERSHIP
2011-2016 STRATEGIC PLAN
2501 Catlin Street | Suite 205 | Missoula, Montana 59801
P: 406.541.6461 | F: 406.541.6464
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