Economic Development Budget Proposal

1
Economic DevelopmentBudget Proposal

• City of Rochester, New Hampshire
• Fiscal Year 2005

2
Economic Development Priorities

• Retention Expansion of Existing Firms
• Attract New Business Industry
• Affect Downtown Redevelopment
• Establish Development Strategy for the City of
  Rochester
• Image Perception Enhancement
• Department Administration

3
Customers of Rochester ED

• Existing Business Owners Managers
• Entrepreneurs
• Leads Prospects
• Property Owners
• Developers
• Financial Institutions
• Realtors

• City Manager
• City Councilors
• City Departments
• City Committees
• State Federal Organizations
• Media Press

4
Staff Request 21,530

• Part-time Administrative Position
• 20,000 salary
• 1,530 social security

5
Duties of Administrative Staff

• Communication Management
• Agendas, Minutes, Package Preparation
• Database Creation Maintenance
• Event Meeting Planning

6
Staff Development 2,600

• New Hampshire NHEDA events training 500
• International ED Council Annual Meeting 750
• Business Industry Association 250

• Northeast Economic Developers Annual Meeting 500
• Main Street /Downtown Strategies 300
• Biotech/Plastics Council 300

7
Professional Services 12,000

• Main Street Application Assistance 5,000
• TIF Industrial Park Consultation 5,000
• Other Legal 2,000

8
Travel 4,500

• Travel/Meals/Lodging
• Meetings Training
• Hosting Meetings
• Meals for Prospects

9
Marketing

• Cooperative Advertising 5,000
• Fosters Made in Rochester insert 1,000
• Update reprint existing materials 4,000
• New printed materials 4,000

10
Marketing cont.

• Electronic Banner Ads 1,500
• Web Site 3,500
• CD creation distribution 2,000
• Design Photo Services 2,000

11
Independent Advertising 5,000

• Regional newspapers, business magazines
• Independent Advertising
• Boston, Springfield, Worcester MA
• Hartford, New Haven, Stamford, CT
• Newark, Elizabeth, Trenton, NJ
• Newburgh, Kingston, Poughkeepsie, Albany, NY

12
National Advertising 5,000

• Site Selection
• Xpansion Management
• Fast Company
• Wired
• Forbes
• Economic Development Journal
• Wall Street Journal
• USA Today

13
Site Selectors Visits 3,500

• Postage, Mailing, Chamber Videos 500
• Meals, Hotels, Travel, Events 1,800
• Development Alliance 1,200

14
Direct Mail to Manufacturers

• Leads and Lists 500
• Postage Mailing Supplies 1,000
• Site Visits by Manufacturers 2,500

15
Marketing cont.

• Quarterly Business Roundtables
• 4 _at_ 125 500
• Labor Force Survey 2,000
• Intern (write an RBEG grant for 250,000 and
  assist with Labor Force Survey) 8,000

16
Productivity 2,650

• As part of Property/Fixed Assets 3,600
• Laptop 1,500
• Combination printer/scanner 500
• Desktop monitor 500
• External CD burner 150

17
Memberships 1,500

• IEDC - International Economic Developers Council
• CIBOR Commercial/Industrial Board of Realtors
• NEDA Northeastern Economic Developers
  Association
• NHEDA New Hampshire Economic Developers
  Association
• New Hampshire Biotech Council
• New Hampshire Medical Device Manufacturers
• BIA NH Business Industry Association

18
Summary