HomeMy WebLinkAbout022106 HREDAHREDA BRIEFING
for
Virginia Beach
City Council
February 2006
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Project Initiation
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Marketing Services for 2005
PERFORMANCE MEASUREMENTS
225 Corporate Appointments
?
70 Consultant Appointments
?
72 Client Visits
?
HREDA OUTREACH
26 Domestic Marketing Missions13 International Marketing Missions
??
17 Domestic Trade Shows19 Special events
??
11 International Trade ShowsNational and international Advertising
??
This activity resulted in 10 Projects for the City of
Virginia Beach, with multiple visits
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Dr. James Koch’s Economic Assessment
of Jobs and Payroll in Hampton Roads
Dr. Koch’s study addresses the economic interdependency of
the jurisdictions in Hampton Roads by analyzing the diffusion
of jobs and payroll generated by HREDA’sattraction efforts.
“Residents of Virginia Beach tend to earn higher than
average incomes, regardless of the location of their
work …It is apparent that our region is highly
interdependent from an economic standpoint.
Hundreds of thousands of citizens live in one location,
but work in another.”
Dr. James V. Koch
President Emeritus,
Old Dominion University
Today we are competing with regional economic
development groups throughout the USA and the WORLD
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Dr. James Koch’s Economic Assessment of Jobs
and Payroll in Hampton Roads
When $1 of new payroll is generated in a Hampton Roads locality,
the following amounts are earned by Virginia Beach residents:
Dr. Koch’s study Amount earned by Amount earned by
Where the $1 of
residents of respective Virginia Beach
addresses the
Payroll is Generated
localityresidents
economic
interdependency of the
$0.51$0.24
Chesapeake
jurisdictions in
$0.49$0.03
Hampton
Hampton Roads by
$0.48$0.03
Newport News
analyzing the diffusion
of jobs and payroll
$0.32$0.32
Norfolk
generated by HREDA’s
$0.59$0.02
Poquoson
attraction efforts.
$0.36$0.15
Portsmouth
$0.58$0.06
Suffolk
In 2005
Virginia Beach$0.77$0.77
1,867 New Jobs
?
$0.18$0.01
Williamsburg
$0.78$0.00
Gloucester
Avg. Base Salary
?
$39,845
$0.49$0.02
Isle of Wight
Capital Investment
?
$0.49$0.01
James City
of $104,007,104
$0.37$0.03
York
Report by
Dr. James V. Koch, June 25, 2005
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HREDA Targets
Engineering and Architectural Services
?
Food Processing
THRUSTS FOR 2006
?
Office / Headquarters Machinery and Equipment / Assembly
?
?
Maritime and Logistics
?
Trade and Port Activities
?
(Non-Distribution)
Operations
Advanced Security, Defense and Aerospace
?
Modeling and Simulation
?
Financial Services
?
Warehousing and
?
Distribution Services
Content Creation and Media
?
Food Processing
?
Communications Equipment
?
Software Development
?
Medical Equipment
?
Other Initiatives …
•Consultant Initiative
As assessed by AngelouEconomics and Whittaker Associates for
•Diversity Initiative
HREDA and PAED respectively, and inclusive of the “Economic
Development Strategy”produced by Thomas Point Associates, Inc. for
•Technology Initiative
the City of Virginia Beach
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2006 Marketing Program
In 2006 HREDA will organize and conduct
the following marketing activity:
33 marketing missions
Expected Result: 214 appointments
23 industry target driven
10 site location consultants
16 special events
6 domestic
Expected Result: 336 guests
4 in Europe
1 in Canada
1 in Asia
4 in Hampton Roads
12 industry trade shows
Expected Result: 71 appointments
9 domestic
3 international
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2006 Marketing Program with
Virginia Beach participation
DOMESTIC & INTERNATIONAL MISSIONS 2006
HREDA Appts. Number of
Activity ThurstLocationMonthDates
RepresentativeGenerated by:Expected Appts.:
MissionInternationalNorthern EuropeMay8-12NordenConsultant12
MissionInternationalChinaJune12-16HooksConsultant15
MissionOffice HQChicago, ILJuly12-13ClemensConsultant5
MissionInternationalUKSeptember4-8HooksConsultant15
MissionOffice HQNorthern New JerseyNovember13-15Villafranca / CothranConsultant5
TOTAL 52
CONSULTANT INITIATIVE 2006
Appts. Number of
HREDA
ActivityThurstLocationMonthDates
Representative Generated by:Expected Appts.:
MissionConsultantPhiladelphia, PAJune15-16CookHREDA4
MissionConsultantWashington, DCJuly19-20NordenConsultant6
MissionConsultantNew York, NYNovember 01-03NordenConsultant8
TOTAL18
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2006 Marketing Program with
Virginia Beach participation
DOMESTIC & INTERNATIONAL TRADE SHOWS 2006
Appts. Number of
HREDA
Trade Show ThurstLocationMonthDates
RepresentativeGenerated by:Expected Appts.:
Corenet GlobalConsultantPhiladephia, PAApril22-25NordenHREDA5
Corenet GlobalConsultantOrlando, FLNovember12-15NordenHREDA5
China*InternationalChinaTBDTBDCook Consultant8
TOTAL18
DOMESTIC & INTERNATIONAL SPECIAL EVENTS 2006
Appts. Number of
HREDA
Special EventLocationMonthDates
Representative Generated by:Expected Guests.:
Royal CarpetHampton RoadsApril4-9ALLHREDA10
SeminarNorthern EuropeMay10Norden Consultant15
SeminarChinaJune14HooksConsultant20
SeminarChicago, ILJuly12ClemensConsultant10
Hooks / Norden /
Capitol Hill ReceptionWashington, DCJuly19Consultant35
Schrider
HREDA / Black
Black ExpoHampton RoadsAugust18Hooks / Ramsey15
Expo Mgmt.
SeminarUKSeptember8HooksConsultant20
Hooks / Villafranca /
IAMC EventWilliamsburgOctober2HREDA40
Norden
Special EventNew York, NYNovember2Hooks / NordenHREDA40
Holiday Luncheon-
Richmond, VA December8ALLHREDA30
VEDP
TOTAL235
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2006 HREDA Advertising Program
DC Velocity
Forbes
Food Processing
Executive Decision
Inbound Logistics
MS&T
Logistics, Distribution and Warehousing
Logistics Today
American British Business
German American Trade
Crain’s NY
Virginia Business
The Week
Foreign Direct Investment
Fast Company
Minority Business Entrepreneur
Business Week
Fortune
FSB
Money
Inc
Wall Street Journal
Estimated Total Advertising
Expenditure of $800,000
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HREDA –Virginia Beach
Partnership for 2006
HREDA includes priorities and special
requests exclusive to Virginia Beach in
business attraction efforts …
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