The Surprising Economics of Economic Development Organizations

Posted by Guillermo Mazier on Oct 9, 2012 12:30:04 AM

Economic Development is Full of Surprises

Last week, at the national IEDC conference in Houston, Atlas Advertising awarded 18 economic development organizations with gold, silver and bronze medals for their performance over the past year. (See blog post just prior to this one for list of winners.) These winners were determined after Atlas did an extensive study on what works and what doesn’t work when it comes to metrics, tactics and results for EDO’s. Along the way, Atlas discovered some expected and not so expected findings – including some surprising economics of economic development organizations:

More Surprises..

Average capital investment per community in the last 12 months: $244 million

Lowest performer, Highest performer for communities with populations between 1 million and 2.5 million:

  • Conversations: Low: 101, High: 621
  • Jobs: Low: 2,329, High: 14,415
  • Capital Investment: Low: $43 million, High$2.2 billion

Value of a conversation, in jobs: 25 Jobs

Average jobs announced per organization, last 12 months: 1,768

Quote from site selector: What do high performing communities do consistently?
"Quick response to queries. Deal making and closing. Good incentives."

Download Atlas Advertising's complete 30+ page report HERE.

Topics: Online Marketing

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