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By Whittaker Associates, Inc. First Coast June 2002 -
1-
Targeting Plan
FIRST COAST
 TARGETING PLAN
Research Questions:
What should the First Coast betargeting short-term and long-term? What should be targeted region-wide?  Are the previous targets still valid? 
Research Sections:
Understanding the First Coast Economy 
 
Determining Community ValuesEmerging Trends and IndustriesTarget Overviews
 T
HE
P
URPOSE
 
 The purpose of this study was to create a 5-year targetmarketing strategy in collaboration with JEA, the CornerstoneRegional Economic Development Partnership, the JacksonvilleEconomic Development commission, and other entities andindividuals known as the First Coast. The overall objectives of the process include
creating quality jobs
and
increasingcapital investment
region-wide. This economic development strategy will move the First Coastto a new targeting model. Traditional targeting strategiesexamine the current state or starting point, while an alternativeapproach might focus on the end goal. Our approachcombines traditional methods with new, innovative tactics.
 T
HE
M
ETHODOLOGY 
 
Building a cohesive, progressive economic developmentstrategy for a region involves taking into account community  values and desires; labor expertise; regional resources andassets; area economic trends; and forecasted industry trends. All of these pieces are needed to build a clear road map tospecific opportunities that hold the greatest promise of success.In the following sections, we will summarize our, theconclusions we came to, and how they fit into the overallframework of a targeting strategy. 
 
By Whittaker Associates, Inc. First Coast June 2002 -
2-
Targeting Plan
First Coast Industry Drivers:
Financial ServicesDistribution/LogisticsBusiness ServicesMedical Products
 
 Additional Industries withGrowth Potential and Area Fit:
Information Technology Printing and PublishingFabricated Metal CommunicationsInstrumentsSporting Goods
U
NDERSTANDING
 T
HE
F
IRST
C
OAST
E
CONOMY 
 
 The focus of this phase was to understand the diverse FirstCoast economy, determine its economic drivers, and evaluateareas of potential growth. The research in this section validated the diverse nature of theregion and how the each of the counties works to balance theregion. Baker County has a high preponderance of governmental employment, as do Putnam and NassauCounties. Nassau and Putnam Counties have the highestpercentage of manufacturing employment in the region.Duval, Clay, and St. Johns Counties have a large service base. The high percentages of retail employment in Clay County andSt. Johns Counties point to their urban and suburban nature. The finance and insurance sector (FIRE) is a significantpercentage in Duval County.Comparing the industry mix of the First Cost against Floridaand the United States as a whole gives insight into thestrengths of the region. Regional employment in the FIREsector is well above the state and national average, otherwisedefined as a “traded” industry. Other traded industries sectorsinclude wholesale, retail, and transportation, communication,and utilities (TCU). We evaluated potential growth sectors by looking at severalfactors like historical growth in business establishments andemployment by industry sector both in Florida and nationwide. We also looked at projected growth industries for Florida as well as the top growing occupations. Those industries that were predominant and fit with resources of the area are listedto the left.
D
ETERMINING
C
OMMUNITY 
 V 
 ALUES
 
 Just as people have values that drive their plans and actions sodoes the First Coast community. The purpose in discovering the values of the region was to ensure that the targeting strategy would be created with these values at the core. Theknowledge gained about the values and desires of the regionplayed a strong role in the strategic targeting process.Business and community leaders were interviewed tocommunicate their perceptions about and their hopes for theFirst Coast community and business environment. Inaddition, tours were provided of each area in the region inorder to give a first-hand view of the area attributes anddrawbacks.
 
By Whittaker Associates, Inc. First Coast June 2002 -
3-
Targeting Plan
First Coast Values:
Protecting the Environment Strong Faith-Based Community Openness to NewcomersFuture Oriented Green Space PreservationSports and Outdoor RecreationBalance
 
Most Active Industries1999-2001:
(by New & Expanded Facilities)Building & DevelopingTransportation Equipment MfgProfessional & Technical ServicesFabricated Metal Product MfgMachinery Mfg
 The interviews and tours were a very valuable piece of thetargeting plan. Without understanding the people, resources,and aspirations of the region we would not be able torecommend industry targets that will meet the future goals of the community. The overall community values which wereapparent throughout this process are listed to the left.Now that the First Coast values have been defined, thecompany matching process can begin. Ultimately thisapproach to strategic targeting will allow the First Coast to be very intentional in their actions because the outcome has beendefined. Traditionally, companies have selected communitiesin which to locate or expand. Turning the tables, the FirstCoast will select and invite the companies that fit with the values of the area with a process that we will call
Selective  Marketing 
. The First Coast will choose their future.
“Destiny is no matter of chance. It is a matter of choice.” 
--William Jennings Bryan
E
MERGING
 T
RENDS AND
I
NDUSTRIES
 
Understanding market trends is one of the most critical stepsin attracting businesses to your community. In this phase of the research, emerging industries were identified so that theFirst Coast can target premier prospects and position thecommunity for long-term economic growth.Macroeconomic trends impacting the world were considered,like the move to more a knowledge-based society, theincreasing need for security, the aging of the population, andgrowing need for mass customization. We studied new and expanded facility announcementsthroughout the United States to determine the most activeindustries in the past few years. This information can becompared to the information gathered in the
Understanding the First Coast Economy 
section to match industries that are bothgrowing locally and nationally as well as determine competitiveadvantages for the region.Research and development intensity within industries wasmeasured to discover the most innovative and dynamicindustries. It was not surprising to see the food,pharmaceutical and medical equipment industries appear inthis category. We also took special note of the types of research prompted by September 11, 2001 and the continued
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