2009-2014
2009-2014
LVEDC STRATEGIC PLAN
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Executive Summary
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LVEDC Strategic Planning Committee
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Vision and Mission
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Cultivate Business in the Lehigh Valley
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Advance Sustainable Development Themes
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Intensify Regional Partnerships
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Boost Innovation and Talent
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Create the Capacity to Succeed
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Plan Timeline and Approval Process
Our business is the Lehigh Valley’s future. At a time when the economies of the world are facing historic challenges, we at the Lehigh Valley Economic Development Corporation (LVEDC) are committed to the continued growth of our region. Successful regional economic development requires an advocate who creates a vision, builds consensus and doggedly implements an agenda that integrates all of a region’s professional, social and cultural advantages to attract new businesses and advance existing ones.
We believe in the Lehigh Valley. In 2008, LVEDC embarked on a strategic planning process that resulted in the attached Five-Year Strategic Plan for the organization. This plan will serve as LVEDC’s guide for progressive regional efforts that will result in continued success in retaining, attracting and creating businesses of all sizes in the Lehigh Valley.
LVEDC has a unique investment value to our region. We understand that economic development is really about creating an outstanding economy that will support a vibrant quality of life for more people. Every single day we work to marshal and provide the resources that businesses and entrepreneurs need to fully unleash their potential in the new economy. Since LVEDC’s creation in 1995, net new jobs created in the Lehigh Valley grew by 43,000 or 18%, double the 9% rate for job creation in the Commonwealth of Pennsylvania. Total jobs in the Northeast U.S. rose by 10%. During the same period, our employer base diversified significantly from a “heavy” manufacturing focus to technology and advanced materials, business and financial services, education and healthcare.
From its origins, LVEDC has been committed to building a culture of collaboration and regionalism to accomplish a greater good. Regionalism has been one of the main factors in the Lehigh Valley’s economic success, and the process for creating this Strategic Plan is yet another example of that partnership at work.
Led by three volunteers from our Executive Committee, the process involved a diverse and broad group of public and private sector partners, LVEDC board members and standing committee chairs, as well as the LVEDC staff. We began the process in 2008 with a series of private and public partner summits. The findings of those summits were the impetus for the information-gathering process for the Strategic Plan. That process continued with regular Strategic Planning Committee and partner meetings through May 2009 when we sought input and collaboration from key partners both in and outside of the Lehigh Valley. We presented the completed plan to the LVEDC Executive Committee for approval in May, and the full LVEDC Board of Directors voted to approve the plan on June 23. In total, more than 150 of our investor companies and key partners participated in the development of this Strategic Plan.
Our goals for the future center on our core function — serving as a catalyst for facilitating business growth.
We will continue to Cultivate Business in the Lehigh Valley that provides high-quality jobs to the region; however, we realize the value and importance of taking care of our own. We’ll be stepping up efforts to retain and expand existing businesses, grow new companies and strengthen our core industry clusters.
LVEDC recognizes the importance of sustainable development and how that manifests into overall quality of life for the region, so we’ll spend the next five years working to Advance Sustainable Development Themes. These efforts will involve the continued promotion of urban redevelopment, the reuse of brownfield sites and the attraction, creation, retention and expansion of alternative energy businesses.
The importance of regionalism in the overall success and growth of the Lehigh Valley cannot be overstated. LVEDC is committed to continuing to Intensify Regional Partnerships — promoting and branding this region as one that works together in collaboration. We will seek formal partnerships to build on that advantage and continue forging agreement on economic development priorities. These formal partnerships will be crucial in our efforts to Boost Innovation and Talent. LVEDC will develop programs and strategies that attract and retain entrepreneurs, young professionals and assist start-up and small businesses that bring a diverse workforce to the Lehigh Valley.
LVEDC, along with all of our investors and partners, will need to Create the Capacity to Succeed on these initiatives. It will be crucial to ensure our ability to achieve our mission by strengthening leadership, regional partnerships, stabilizing our avenues of funding and optimizing investor services.
STEERING COMMITTEE Mr. Donald Bernhard
Manager, Community and Economic Development PPL Corporation
Mr. Robert Episcopo
Director of Business Development Alvin H. Butz, Inc.
Ms. Jean Mateff
Chief Operating Officer Lehigh Valley Economic Development Corporation
Mr. William Michalerya
Associate Vice President, Government Relations & Economic Development Lehigh University
Mr. Philip Mitman
President &
Chief Executive Officer Lehigh Valley Economic Development Corporation Project support:
Taggart Associates
Mr. James Bartholomew
Executive Vice President
Embassy Bank for the Lehigh Valley
Mr. Donald Bernhard
Manager, Community and Economic Development PPL Corporation
Mr. J. Lee Boucher
President
Bardot Plastics Inc.
The Honorable John Callahan
Mayor
City of Bethlehem
The Honorable Donald Cunningham
County Executive Lehigh County
Ms. Nancy Dischinat
Executive Director Lehigh Valley Workforce Investment Board, Inc.
Mr. Robert Episcopo
Director of Business Development Alvin H. Butz, Inc.
Mr. Vito Gallo
Assistant Vice President for State Relations Lehigh University Mr. Tom Garrity Managing Partner Compass Point, Ltd. Ms. Kassie Hilgert
Vice President of Advancement ArtsQuest
Mr. Tony Iannelli
President
Greater Lehigh Valley Chamber of Commerce
Mr. Samuel J. Jones
Vice President/Senior Asset Manager Capmark Finance, Inc.
Ms. Jane Kohler
Executive Vice President Lafayette Ambassador Bank
Mr. Paul Marin
Managing Director Stifel Nicolaus & Co.
Ms. Jean Mateff
Chief Operating Officer Lehigh Valley Economic Development Corporation
Mr. Paul Mazzucco
President Cobalt Computers
Mr. William Michalerya
Associate Vice President, Government Relations & Economic Development Lehigh University
Mr. Philip Mitman
President &
Chief Executive Officer Lehigh Valley Economic Development Corporation
The Honorable Sal Panto
Mayor City of Easton
The Honorable Ed Pawlowski
Mayor
City of Allentown
Mr. Michael Stershic
President
Lehigh Valley Convention & Visitors Bureau
Mr. Thomas Stine
President ExScribe, Inc.
The Honorable John Stoffa
County Executive Northampton County Mr. Richard Thulin President Arcadia Properties, LLC Mr. Seymour Traub
Senior Vice President & General Counsel St. Luke’s Hospital & Health Network
Mr. Marc Troutman
VISION
Vision:
LVEDC will be the premier economic development
organization in the Lehigh Valley because of its strong
regional public/private partnerships.
MISSION
Mission:
To lead economic prosperity in the Lehigh Valley
by ensuring national best practices in economic
development services and marketing.
GOAL
Increase efforts to retain and expand existing businesses and grow new companies while maintaining attraction of target industries that enhance the vitality of the Lehigh Valley economy.
STRATEGIES
1. Execute enhanced “gardening” strategies to maximize retention of established businesses and facilitate expansion of those primed for growth.
2. Develop and implement a comprehensive, annual Marketing and Communication Plan that seeks to grow, retain and attract new business to the Lehigh Valley for job creation.
3. Pursue the attraction of industries in carefully targeted industry clusters.
ACTION STEPS
• Identify Lehigh Valley companies primed for growth and target resources to expedite that growth.
• Leverage resources to enhance business retention and expansion efforts by maximizing the use of existing partnerships and developing new partnerships as necessary.
• Continue advocacy for programs best suited to the needs of the Lehigh Valley, identify businesses that would benefit from these programs and aggressively assist these businesses in program actualization by serving as a catalyst in marshalling resources to solve them.
• Utilize local Industrial Development Authority mechanisms and local loan pools including the resources of the Green Knight Economic Development Corp. to revitalize and expand local business funding.
• Continue the Lehigh Valley Banker’s Forum to increase understanding of the availability of local capital and enhance LVEDC’s ability to best match businesses to appropriate capital resources.
• Continue to improve, develop and market the LVEDC website to make it a comprehensive resource that sells the region and Lehigh Valley programs to potential relocation or expansion clients and raises the visibility of LVEDC with key influencers of location decisions.
• Develop a dynamic branding and public relations program that communicates our success stories in the Lehigh Valley to promote the strengths of the region and LVEDC services.
• Become more active participants in state and national economic development groups and trade organizations and professional councils.
• Provide consistent state of the art service to prospects.
• Increase face to face meetings with senior executives/site location consultants in target industries.
• Implement Customer Relationship Management system for tracking and generating leads to help identify targets based on sound data and trend analysis including full analysis of emerging clusters.
PERFORMANCE MEASURES
• Business Retention and Expansion visits annually and action items resolved out of visits. • Overall jobs created and retained — net; and jobs created & retained from gardening strategies.
• Periodic survey of site selector audience to gauge awareness and satisfaction, and marketing/advertising effectiveness — return on investment of each strategy.
• Number of relocations and expansions and total capital investment.
GOAL
Enhance the Lehigh Valley’s reputation for sustainable economic development by promoting urban redevelopment, the reuse of brownfield sites and the attraction, creation, retention and expansion of alternative energy businesses.
STRATEGIES
1. Strengthen the urban cores of our three cities and our boroughs through focused economic development activities.
2. Maximize the reuse of brownfield sites.
3. Build LVEDC’s reputation as an organization that utilizes existing industry and the growth of clean technology in building a sustainable local economy.
ACTION STEPS
• Continue the Lehigh Valley Land Recycling Initiative model by applying the same principles of advocacy, technical and financial assistance to green building, alternative energy and sustainable development opportunities.
• Facilitate the creation of jobs in the urban cores.
• Where appropriate, provide economic development resources to assist in residential development within the urban cores to strengthen existing tax bases and re-build a market for basic consumer goods and services.
• Collaborate with partners to grow new resources and strengthen strategic partnerships to increase formation, growth and prosperity of minority and women-owned businesses. • Develop strategies that build on the presence of national energy companies in the
Lehigh Valley.
• Facilitate smart energy projects and initiatives that have job creation potential. • Pursue select issues, such as passenger rail leadership.
PERFORMANCE MEASURES
• Number of brownfield sites redeveloped. • Educational seminars hosted annually.
• Jobs created in the urban cores and boroughs of the region.
• Number of economic development projects assisted within urban cores. • Lead at least one significant energy project per year.
• Partner on or coordinate one or more seminars on a sustainability topic. • Number of green energy or conservation jobs created.
GOAL
Leverage the Lehigh Valley’s reputation for regional cooperation by building on its success in forging agreement on economic development priorities.
STRATEGIES
1. Promote and strengthen regionalism by raising the perception and reputation of LVEDC as the premier source for economic development resources in the Lehigh Valley.
2. Continue to build the Lehigh Valley’s reputation and “brand” as a region that works together in collaboration with project partners.
3. Seek formal partnerships with Greater Lehigh Valley Chamber of Commerce, Lehigh Valley Workforce Investment Board, Lehigh Valley Convention and Visitors Bureau and other key partners to strengthen our regional approach and advantage.
4. Strengthen our public/private partnership model, maintaining our strong existing partnerships with the three cities and two counties.
ACTION STEPS
• Formalize a policy and process that governs when LVEDC becomes involved in issues that directly impact economic development and formulate action strategies on those limited issues.
• Serve as a forum for issues that affect our membership and the Lehigh Valley in general
related to economic development including bringing in state agencies to address local issues and provide general access to information/assistance.
• Pursue specific strategic partnerships within and beyond the borders of the Lehigh Valley where such activities can leverage existing resources.
• Develop consensus on regional economic development project priorities and communicate funding priorities to state and federal officials.
• Broaden and expand the existing targeted Industry Partnerships to encompass business development as well as workforce development needs.
• Implement staff training and professional development plans to enhance LVEDC’s ability to serve as a central resource to meet comprehensive business growth and retention needs.
PERFORMANCE MEASURES
• Editorial placements, website visits, multi media activity, events and other marketing initiatives. • Media relations and business community inquiries for information related to economic development. • Level of new and continued funding from state and federal government for Lehigh Valley projects. • Maximum funding for Comprehensive Economic Development Strategy plan projects.
• Increased membership in Industry Partnerships.
GOAL
Develop programs and strategies to attract and retain entrepreneurs and young professionals, and assist start-up and small businesses that bring a diverse workforce to the Lehigh Valley.
STRATEGIES
1. Enhance the Lehigh Valley brand internally and externally as a top location for innovation and entrepreneurship with a burgeoning quality of life for young professionals.
2. Collaborate with partners on growing new resources, leveraging partner programs and strengthening strategic partnerships to increase formation, growth and prosperity of small or start-up businesses.
ACTION STEPS
• Execute targeted marketing strategies with a dual appeal to new businesses and talented young professionals promoting the image of the Lehigh Valley as a growing hub of creative enterprise, innovation and entrepreneurship.
• Promote the non-business culture and quality of life areas that will attract and retain young professionals. • Identify and champion the advantages of Lehigh Valley assets such as the Ben Franklin Incubator,
Keystone Innovation Zone, Manufacturers Resource Center, Lehigh Valley Workforce Investment Board, Office of Minority and Woman-Owned Business, Angel Investor Network and others. • Work with our partners and groups such as the Network of Young Professionals to develop and
facilitate initiatives that attract a younger, diverse workforce to the region in order to stimulate the region’s innovative and entrepreneurial economy.
• Leverage higher education assets and relationships to support innovation and entrepreneurship. • Increase assistance to programs such as the Office of Minority and Women-Owned Businesses
and other small business groups to assist in financing new businesses.
• Develop a program to identify businesses especially Keystone Innovation Zone and other incubator companies poised for second stage or rapid growth and target resources to expedite these expansions. • Market the resources available for start-ups.
• Develop a strategy to support and grow the existing healthcare and higher education clusters as referred to in the Brookings Institution Report as “Eds and Meds.”
• Expand Keystone Innovation Zone model to other schools, hospitals, and regions in the Lehigh Valley.
PERFORMANCE MEASURES
• Number of start-ups assisted by LVEDC.
• Development of an information portal providing comprehensive quality of life information under one umbrella.
• Website visits to that site.
• Diversification of committees and boards.
GOAL
Reinforce the ability to achieve our mission by strengthening leadership, regional partnerships, stabilizing funding and optimizing investor services.
STRATEGIES
1. Increase public/private support and the diverse funding base that has sustained LVEDC.
2. Strengthen LVEDC’s organizational capacity and enhance our local brand and reputation as the comprehensive access and referral point to private and public services for business capital and opportunities for developing relationships. 3. Increase value of services to investors and grow private sector revenue.
ACTION STEPS
• Create key messages and increase communications on our economic development initiatives and accomplishments to engage and leverage community and investor partners in the overall mission of the organization and the vision for the Lehigh Valley.
• Increase revenue from finance activities by utilizing local Industrial Development Authority mechanisms and local loan pools to dramatically strengthen local business funding.
• Assure ongoing access to hotel tax revenue by strengthening relationships with the two counties and the Lehigh Valley Convention and Visitors Bureau, and providing outstanding services to each.
• Pursue state and federal funding using Lehigh Valley Land Recycling Initiative/Environmental Protection Agency grant as a model.
• Develop and execute a Board of Directors Fundraising Plan including a carefully targeted high touch membership communication and visitation campaign, fundraising training and success metrics.
• Redefine investor levels to meet investor needs and allow for targeted investments.
• Define what resources we can provide to our Investors including events, referrals and marketing opportunities, and develop list of in-house resources and partners for collaboration.
• Implement Strategic Fund Development Plan that will increase number of investors and sponsorships to maximize private funding for the organization.
• Develop more focused marketing and communications materials to better convey the organization’s value proposition for prospective members, and enhance educational efforts to support and retain Lehigh Valley businesses and to provide investor value.
• Develop succession plans for Board, Executive Committee and Staff.
PERFORMANCE MEASURES
• Budget revenue including private sector/member revenue.
• Achievement of Accredited Economic Development Organization (AEDO) status and Certified Economic Developer status for key staff members.
• Periodic surveys of investors, customers and partners to evaluate effectiveness of LVEDC services. • New and retained investors.
• Increased number of transactions and clients LVEDC assists with each year including site selection and finance packaging from both incoming and outgoing referrals.
MARCH – APRIL 2008
• Public and Private Stakeholder Summits to gather information and input
MAY – AUGUST 2008
• Strategic Planning Steering Committee met to begin the process; strategic questions developed
SEPTEMBER 2008
• First Strategic Planning Committee Meeting held — introduction and overview
NOVEMBER 2008
• Strategic questions discussed by LVEDC Standing Committees:
Administration: November 5 Marketing: November 6 Real Estate: November 10 Planning: November 13
Legislative and Governmental Relations: November 21
DECEMBER 2008
• Strategic Planning Committee Meeting (timeline discussion, Marketing & Administrative questions) • Strategic questions discussed by LVEDC Standing Committees:
Transportation: December 4 Investor Relations: December 10
• Request from Committee Chairs on information regarding metrics • Mapping of other economic development organizations begins • Field visit to Chester County Economic Development Council
JANUARY 2009
• Strategic Planning Committee Meeting (Discuss consensus issues/bigger picture questions) • Metrics info from Committee Chairs Due
• Met with LVEDC Staff on January 20 to discuss metrics • Begin draft plan document
FEBRUARY 2009
• Strategic Planning Committee Meeting (Discuss metrics and mapping results)
• Conduct external meetings with key groups to discuss draft plan, incorporate findings into draft • Refine draft plan document
MARCH 2009
• Strategic Planning Committee Meeting (Discuss implementation of the plan/additional items for closure) • Plan roll-out process to key stakeholders via Summit, Executive Committee, Board
APRIL 2009
• Strategic Planning Meeting (Discuss draft plan)
• Met with Staff on April 2 to discuss plan & make revisions
• Met with Greater Lehigh Valley Chamber of Commerce, Lehigh Valley Workforce Investment Board, Lehigh Valley Convention and Visitors Bureau for final input on April 2
• Met with Outside Reviewers
Mike Kaiser – Lehigh Valley Planning Commission Mike Rossman – Governors Action Team
Ray Suhocki – Former President & CEO, LVEDC
Tony Iannelli – Greater Lehigh Valley Chamber of Commerce Gary Smith – Chester County Economic Development Council Sharon Ward – Economic Development Consultant
• Ad vo ca c y • Br o w nf iel d R e d e • Bu sine s s D e ve lo • Bu sine s s Net w o • Bu sine s s R e te n t • Bu sine s s T raini n • E c onomic P roje c P rior itiz a tion • Educ ation • Ener g y In it ia ti ve • En tr epr e neu rs h • Fi n a n c in g • Housing F inanc e & P la n n in g • Inf ra s tr uc tur e • Main St ./ E lm St • P lanning & Zoni • Pu b li c S a fe ty • Re g io n a l B ra n d i • Re g io n a l M a rk e t • Re s e a rc h • Sit e A s sis tanc e • Sit e Developme n • Small B u si ne s s • To u ri s m • Wo rk fo rc e D e ve As s e s s m e n t/ Tr a
Allentown / Allentown Economic Development Corporation
Ben Franklin Technology Partners Bethlehem / Bethlehem Economic Development Corporation
Colleges and Universities / Career & Technical Schools
Community Action Committee of the Lehigh Valley
Lehigh and Northampton Counties Easton / Greater Easton
Development Partnership Easton Area Industrial Land Development Corp.
Greater Lehigh Valley Chamber of Commerce
Lehigh Valley Convention and Visitors Bureau
Lehigh Valley Economic Development Corporation
Lehigh Valley Industrial Parks Lehigh Valley Partnership
Lehigh Valley Planning Commission Manufacturers’ Resource Center PA Dept. of Community and Economic Development / Governor’s Action Team Renew Lehigh Valley
Small Business Development Center Utilities
Lehigh Valley Workforce Investment Board