3 Ways Your Economic Development Team Can Attract New Business to Its Region

ECONOMIC DEVELOPMENT MARKETING

Economic development is a fiercely competitive field.

In this edition of In the Loop, we'll explore three strategies that can help your economic development team attract new businesses according to the IEDC.

Strategy #1: Share meaningful stories

Go beyond stats and feature stories that evoke emotion. By featuring the success stories of your region, you make it easy for prospects to envision why they should invest in your area and be part of your community.

As Frisco Economic Development Corporation Vice President Gloria Salinas said in our podcast interview with her, “Winners want to be with winners.”

Strategy #2: Test your branding and messaging before going live

Do you test your messaging and branding with a test audience before going live? If not, you should. According to a 2023 report by Lucidpress, testing your messaging and branding elements with a sample audience before going live can increase ROI by up to 20%.

Strategy #3: Highlight entrepreneurship programs

By highlighting how your organization supports entrepreneurs, your organization will not only encourage more people to start their businesses, which can lead to the creation of new jobs and the generation of new wealth, but also show investors that you care about innovation and are a reliable partner for business growth.

P.S. Happy (almost) 4th of July to our readers in the U.S.!

We’re sending this newsletter one day in advance in anticipation of the holiday festivities. We’ll be back to our regular Thursday release next week.

THIS WEEK’S STORIES

🇺🇸 Texas: Arlington EDC launches new website

🇺🇸 Indonesia sends largest delegation to U.S. investment summit

🇺🇸 Virginia: Danville gets federal support for aviation industry

NEWS
Texas: Arlington EDC launches new website

🇺🇸 ARLINGTON, TEXAS — The Arlington Economic Development Corporation has launched a newly designed website, ArlingtonTxEDC.com, which features a refreshed logo and easier access to information on the Texan city’s economic climate, including interactive visualized data, workforce insights, and available investment incentives, according to a statement from the City of Arlington.

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NEWS
Indonesia sends largest delegation to U.S. investment summit

🇺🇸 NATIONAL HARBOR, MARYLAND — Indonesia has selected over 80 delegates to attend this year’s SelectUSA Investment Summit from June 23 to 26 in National Harbor, Maryland, according to a statement from the U.S. Embassy in the capital Jakarta.

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NEWS
Virginia: Danville gets federal support for aviation industry

🇺🇸 DANVILLE, VIRGINIA — U.S. Secretary of Commerce Gina Raimondo has approved a $4.1 million grant to the city of Danville, Virginia to build a new aviation training facility, according to a statement from the Economic Development Administration (EDA).

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MORE FROM GMI POST
Canada Business Report 2024: Building a Partnership for the Future

🇨🇦 Rooted in shared values and mutual interests, the relationship between Canada and its next-door neighbor, the United States, has grown beyond the economic and political spheres.

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