MEAG Power Economic Development Forum Reynolds Plantation, Lake Oconee Thursday, April 2, 2009 The Company’s Perspective for Site/Community Selection Michael.

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Presentation transcript:

MEAG Power Economic Development Forum Reynolds Plantation, Lake Oconee Thursday, April 2, 2009 The Company’s Perspective for Site/Community Selection Michael Hickey Hickey & Associates, LLC

Background & Experience Hickey & Associates, LLC, headquartered in Minneapolis, is a global site selection company and public incentive experts. The company specializes in market location selection and economic development initiatives to help corporations select the best location to grow, relocate or consolidate anywhere in the world. They also advise many communities on Best Practices for business recruitment and retention, Workforce enhancement strategies, and identification and promotion of community assets.

Major Industries Represented Aerospace & Defense Healthcare Bio-Science Renewable Energy Consumer Products Manufacturing Food Processing and Distribution Services Warehouse/Distribution Background & Experience

Select List of Clients: Background & Experience

Longer sales cycle Capital is much harder to come by Increased level of corporate due diligence Although slower, be ready to go at any point to close the deal Be willing to support shorter-term leases Pad ready and viable existing buildings essential Rapid Change in the Economy Is Slowing Down Projects Today’s Business Environment

JANFEBMARCHAPRILMAYJUNE Site Selection Committee Team Meetings Macro Analysis Micro Analysis Whitepaper Public Presentations Site Visits Site Selection Developer /Property Negotiations Incentive Contracts Incentive Negotiations Final Site Selection Typical Site Selection Decision Timeline Economic Impact Study Incentive Administration

The Team Corporate Real Estate Leadership: Company Vice President or Designee Hickey & Associates, LLC: Mike Hickey Operations Human Resources Treasury Government Affairs Tax Communications Finance Corporate Incentives Team Business Unit Incentives Team Rob Shilliday THE DECISION / EVALUATION TEAM

What goes into the Company’s decision? Cost of Doing Business Business Requirements Location Requirements Location Decision

LOCATION SELECTION (Narrowing the Field) Utilize Analysis - Qualitative (Big Picture) - Quantitative Understand “fit” of Community Resources Long Term Approach Narrow The Choices Risk Analysis

Case Study Project Parameters Warehouse Distribution Project Desired Southeast U.S. Location Logistics Critical to Site Location Decision Freight Costs Proximity to Existing Customer Base Proximity to Suppliers

Process Eliminated the Subjectivity of the Team Members o Favored Location Was Proven as Best Location o Data Results Indicated Lowest Cost / Highest Impact Site Ultimate Goal: o Real Estate Team, Finance Team and Tax Team Agreed Upon Factors and Ultimately Agreed With Results o Company Made Site Decision Based on Sound Financial Data Results

What can Communities do to meet a Company’s needs? Prepared to meet with, and nurture, Company Educate Public/Private Partnerships Availability of required talent pool Capture new legislation and programs Listen, not just hear

Bilingual Education Community and Company Speak “Site Ready” “Pad Ready” “Expectation” “Commitment”

Shovel ready means “pad ready” in a “real” industrial park Existing buildings – up to standard Infrastructure leading up to the property or the building is fully expected just to be considered All permitting, zoning and other community issues need to be secured Investors no longer want to pay for infrastructure since it will also benefit other tenants and the community. Deliver what you promise Pad Ready or Existing Buildings (The Changing Face of Expectations)

Close financial gap Reduce cost of business – mitigate risks Flexible and adaptable Proper mix and value reinforces positive place to do business Incentives Critical & Crucial

Right hires the first time Recognize virtual, hoteling and contracted employees in incentive compliance Encourage communities to invest in infrastructure that attracts talent Understand generational expectations Available Talent Becoming Even More Important

The American Recovery and Reinvestment Act of 2009 Quick Changing Legislation and Programs Many Companies are Adjusting Their Game Plan

Support to enhance economic development activity Educate potential new clients on possible program benefits. Capture Federal Stimulus Funds for your Projects to close financial gaps Quick Changing Legislation and Programs Many Companies are Adjusting Their Game Plan

Examples EDA Funding EDA Funding Job Training Grants Job Training Grants Industrial Revenue Bonds Industrial Revenue Bonds Recovery Zone Bonds Recovery Zone Bonds Quick Changing Legislation and Programs Many Companies are Adjusting Their Game Plan

Develop a Bridge to Connect ED with Company EconomicDevelopmentProspectiveCompany Be honest Educate Remove risks Mitigate start-up costs Provide infrastructure support Creative solutions Listen to specific needs Work together – State & Local Build business case Cost of doing business Available required labor Accessibility to road/rail Capital costs Market accessibility

Develop a Bridge to Connect ED with Company EconomicDevelopmentProspectiveCompany Be honest Educate Remove risks Mitigate start-up costs Provide infrastructure support Creative solutions Listen to specific needs Work together – State & Local Build business case Cost of doing business Available required labor Accessibility to road/rail Capital costs Market accessibility

Thank you! Hickey & Associates, LLC Minneapolis, MN (763) Toll Free (800) Fax (763) MEAG Power Economic Development Forum Reynolds Plantation, Lake Oconee Thursday, April 2, 2009