Business Retention and Expansion
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We are conducting a survey of 100+ Corporations in Lorain County in order to understand short term issues that they may face as well as to determine the longer term obstacles to their success. This process will involve utilizing the Synchronist Business Retention and Expansion software.
- Team Lorain County representatives use the premier economic development software and data gathering tools provided by Blane Canada, LTD and their Synchronist Business Information System.
The Synchronist System is an internet software tool used to organize, analyze and report company information, giving county decision-makers invaluable insight into the dynamics of the local economy. Selected companies will receive a letter and information regarding the process in the mail and then will be contacted via telephone to set up an on-site interview. Interviews will be scheduled and conducted throughout the remainder of 2007. Team Lorain County’s goal is to complete 200 on-site interviews in this time period.
- Team Lorain County’s utilization of the Synchronist system allows us to identify companies with the best growth potential as well as new marketing opportunities. The initiative will also assist in predicting at-risk companies, while providing a vehicle for special funding.
There are many examples of successes nationwide that can be directly attributed to utilizing the Synchronist system. In Winston County, AL use of the Synchronist tool resulted in $4 million in new loans and grants that had been approved or delivered to local companies, a niche market of their economy was discovered which has led to the development of several new business attraction opportunities, and the community itself received half a million dollars and loans and grants for infrastructure improvement.
In Illinois, the synchronist program resulted in the formation of The Alliance for Illinois Manufacturing which leverages, coordinates, and focuses member’s collective resources that transform them into globally competitive companies. In Lee’s Summit, MO the use of this process resulted in $4,425,000 in state incentive awards and added 556 new jobs. In Yakima, WA synchronist was integral in justifying $1.6 million in public works investments.
Building/Site Database:
- Team Lorain County continues to develop and maintain a database with all of the pertinent information relative to site availability in Lorain County. This data base will be critical as we interface with Team NEO and individual corporations in attracting new businesses to Lorain County. This data base will provide a "level playing field" for all Lorain County communities to be considered as companies look to relocate into our market.
Marketing
- Team Lorain County continues to develop a marketing program to enhance the image and reputation of Lorain County and to positively position our market to companies looking to relocate. This marketing material will include a major website update, collateral material, and public relations support. In addition, TLC will coordinate with Team NEO as the work to enhance the image of Northeast Ohio and the State of Ohio.
