Goals and Metrics

 

Goals

$19.25 Average wage
$300m over 3 Years of New Capital Investment
600 New Jobs over 3 Years
$24m Annual Payroll

2016

$19.49 AVERAGE WAGE
$201m 2016 total oF NEW CAPITAL INVESTMENT
284 2016 Total NEW JOBS 
$11.4m ANNUAL PAYROLL

 Average Wage Source: MI DTMB LMISI Occupational Employment Statistics

 

 

Initiatives

  • Retain and expand the existing business base in greater Bay County.
    • 2016
      •  Bay Future, Inc. helped 6 local companies expand their operations totaling $186m.  
      • 150 successful business engagements recorded last year with local employers.
  • Establish and reinforce the image of Bay County as a “pro-growth” location within the Great Lakes Bay Region.
    • 2016
      • Bay County recognized as a Top 10 Logistics Leader by Business Facilities.
      • Bay City MSA recognized as a Top 10 Metro Area: Tier Three New and Expanded Facilities in 2016 (Metros with population less than 200,000).
      • Billboard partnership with the Bay Area Chamber of Commerce.
      • National ad buys in industry focused periodicals.
      • Partnership with Prosperity Region 5 on marketing and attraction.
  • Increase the inventory of “shovel-ready” sites/acres in Bay County and targeted available building space/square feet.
    • 2016
      • Worked with Consumers Energy to get Williams Twp. Site designated as a certified Energy Ready Site as a part of Consumers state wide Energy Ready Program.
  • Increase the interest (measured by contacts, visitations, etc.) amongst strategic targeted companies in Bay County (and beyond).
    • 2016
      • Conducted a site tour with Consumers Energy and MEDC on wood manufacturer.
      • More than 10 RFPs and RFIs submitted to site selectors.
  • Improve all aspects of the support network for Bay County entrepreneurs.
    • 2016
      • Biz Grid creation through RoadMap to the Future Initiative.
      • CMU-RC Bay City opened.
  • Establish an Opportunity Fund to be able to incentivize economic development projects in the County.
    • 2016
      • Applied for final round to administer United States Department of Agriculture Revolving Loan Fund.
      • Continued growing partnership with Bay County Growth Alliance.

Periodically during the next three years, the Bay Future, Inc. Board of Directors will provide oversight and review this Strategic Action Plan to monitor the implementation progress and incorporate economic strengths, weaknesses, opportunities and trends into the organization’s brand, goals and position.

 

TACTICS FOR SUCCESS

 I. Retain, Support and Expand Existing Industries & Entrepreneurial Growth

Recognizing the clear, indisputable value of Bay County’s existing business base, Bay Future will:

  •  Conduct over 100 company visitations/interviews per year with local employers to determine expansion opportunities and roadblocks to growth. Track visitations on BayFuture.com
    • 2016
      • Conducted ~150 company visitations/interviews.
  • Serve as the liaison between existing employers and public officials to resolve any barriers to growth and/or the creation of jobs.
    • 2016 
      • Worked closely with 5 municipalities to resolve issues directly related to development and zoning.
  • Maintain a confidential database to work with individual companies tracking business trends and intelligence utilizing “synchronist” CBM software.
    • 2016
      • Salesforce CRM software is in place.  Working closely along with MEDC to keep this database updated and robust on an ongoing basis.
  • Provide economic data modeling reports for businesses.
    • 2016 
    • Provided above reports to multiple organizations and on three (3) specific projects.  Most notably, worked with Michigan Sugar on producing reports showing economic impact of sugar beet production in Bay City, Bay County, and the Great Lakes Bay Region.
  • Collaborate with CMU-RC to establish a satellite Research Center for Entrepreneurs to incubate business ideas.
    • 2016
    • CMU-RC project was announced in 2016 and they moved in to their Uptown Bay City location on March 1st 2017.
  • Increase support for entrepreneurs by providing incentives, remove barriers, and create an atmosphere that nurtures entrepreneurs by developing a one-stop support system.
    • 2016 
    • BFI is Co-Chair of the Diverse and Robust Economy Roadmap to the Future Sub Committee which created a Biz Grid in 2016 and will fully integrate that piece Region wide in 2017.

 II.  Global Business Attraction & Marketing

By continuing our successful utilization of new talent and proven tools, Bay Future will:

  • Focus on targeted industries which include Agribusiness, Advanced Manufacturing, Medical Device Manufacturing, Warehouse/Distribution & Logistics and Data/Call Centers/IT, to complement our existing business and recently recruited companies.
  • Identify and recruit emerging industries with the highest growth potential;
  • Enhance national marketing and public relations through the implementation of our newly enhanced website and social media opportunities.
    • 2016
    • New Website updated with Social Media Widget Window Preview Tool.
  • Partner and Collaborate with local, regional, state, and federal officials to improve our infrastructure
    • 2016
    • Working with GLBR Partners to educate officials on Deep Water Dredging - Feasibility Study and to use it as an attraction tool.
  • Collaborate with Governor’s Prosperity Region #5 Partner EDC’s and Great Lakes Bay Regional Alliance on an attraction and regional marketing initiative.
    • 2016
    • Silverload Study completed and began implementation.  GLBR Represented Partners at Hannover Messe, the world's largest industrial technology trade fair.
  • Increase prospect activity and post results to Bay Future.com website on the number of jobs (created/retained), capital investment, attraction project #’s, retention visit #’s, site/building lead submissions, and site visit prospects to Bay County.

  III. Workforce Retention, Recruitment, and Development

A strong economy depends on a quality workforce. In this often ignored area of economic development, Bay Future will:

  • Continue our partnership with Delta College, Saginaw Valley State University and the Great Lakes Bay Regional Alliance in the promotion of STEM education.
    • 2016: Efforts ongoing.  STEM Coordinator hired by GLBRA acting as point person.
  • Collaborate with local colleges and K-12 educators to expose elementary and middle and high school students to career paths available within the area, which is critical to our regional economic success.
    • 2016: Presented to and working closely with the BACC Business and Education Partnership.
  • Coordinate tours of local industries for K-12 educators.
    • 2016: Identifying local companies interested in facilitating this possibility.
  • Continue to collaborate with Michigan Works!, which eliminates duplication and enhances the performance of regional workforce partners and programs;
  • Identify, develop and evaluate results of a Bay County Labor-shed to determine the makeup of Bay County’s workforce and how we benchmark to other areas that we compete against for business;

 IV. Deliver a High Quality, Results Driven Service System to Investors

Connecting and Engaging Investors and Other Stakeholders in the Economic Growth Effort, Bay Future will:

  • Connect existing businesses with each other and with local and regional resources;
    • 2016
    • Retention efforts and Investor Relations touches covered above.
  • Develop and deliver comprehensive Return on Investment (ROI) data to investors via Dashboard Analytics on the BayFuture.com website;
    • 2016
    • Ongoing. Evaluated most effective means to complete this along with structure.
  • Provide performance metrics on BayFuture.com website, which track the strategic goals, activities and initiatives.
    • 2016
    • Evaluated most effective means to complete this along with structure. 
  • Increase positive perceptions of Bay County through meaningful and collaborative relationships with local, regional, state and national allies;
    • 2016
    • BFI was represented at 1 International Trade Show, 4 National Conferences, and 3 State-wide Conferences in 2016.
  • Provide leadership for the coordination of local economic development services;
    • 2016
    • Everyday!
  • Build public support and knowledge of economic growth activities and their impact on the community via press releases, news articles, quarterly reports, e-newsletters and BFI website.
    • 2016
    • Multiple examples of this. Via MLive.com, Constant Contact E-Blasts, Social Media, etc...
  • Continue to maintain/update the Bay County Manufacturer’s Directory
  • Update Governor’s Prosperity Region #5 cluster analysis with additional Bay County companies
  • Develop sustainable revenue sources that exceed the industry norm for communities of similar size.

 

 

Investors