Our economic development services include the following:
Outsourcing is a major strategic decision for most economic development organizations since it involves weighing the potential operating cost savings against possible issues such as "loss in control" and consultant "conflict of interest" ... these are the two most common concerns we hear. We are in constant contact with our clients, spending many days on-site, to ensure the best possible service delivery and client satisfaction. With our economic development outsourcing engagements, we primarily work on business retention and expansion, project management, and marketing (which is different than business attraction). In most cases, we do not do direct business attraction as part of our outsourcing services in order to avoid any potential conflicts of interest. Our goal is to ensure that your community is in the best possible position to realize stable, sustainable growth. Our clients appreciate our extensive experience, professional network, and ability to provide comprehensive economic development services at a fraction of what it costs to maintain a full-time staff.
Study after study shows that the vast majority of jobs created in a community are from businesses already operating there. Consequently, business retention and expansion efforts are critical to the long-term economic success of a community or region. We use a variety of proven methods to reach out to businesses to understand the challenges and/or opportunities that they may be facing, and then develop and implement actions to effectively address those circumstances.
Business attraction projects are often times highly publicized because they typically involve larger scale job creation and incentives and, therefore, are probably the most familiar economic development method. We identify targeted business sectors for our attraction efforts based on the strengths and resources of our clients’ location. As part of the business attraction strategy implementation, we use established marketing techniques to promote the strong site selection factors that are important to businesses in the targeted industries.
Our market analysis work is designed to help economic developers, civic and business leaders, investors and developers better understand the dynamic local marketplace and identify business and real estate development opportunities that are realistic and make sense for our clients’ location.
MB3 has completed many analyses to examine the economic and/or fiscal effects of a project or event on the economy of an area – from a zip code to an entire state. Our economic and fiscal impact reports allow our clients to make informed decisions because the analysis provides them an estimate of the difference (in terms of economic output, jobs and income) from what would otherwise be expected if a project or event did not occur. Our public-sector clients typically use our impact analysis to better understand the potential impacts of:
Are you getting site selection inquiries, but not landing deals? If so, then let us help you understand why the site selectors may be keeping your community off the short list of viable locations. MB3 has many years of site selection experience across industry sectors and company sizes. We can quickly and cost-effectively conduct a simulated site selection that would give you a clear evaluation of your readiness to compete for business attraction projects. More importantly, we will provide you with an action plan to effectively address any identified areas of weakness.
We can help you figure out your GIS needs in no time. Our team will start with a needs assessment and then develop a plan to set up or improve your GIS infrastructure. Leave it to the experts!
We offer a full range of GIS services, including:
Many small communities do not have a professional economic developer on staff and handle local economic development through committees or volunteer groups. MB3 can provide fundamental economic development training to help those committees and/or groups identify sustainable development opportunities and build reasonable strategies that they can effectively implement to achieve their development goals.