RGP Contracts with IBM to Create Competitive Model Designed to Attract High-Growth Investment
TOLEDO, Ohio – Recognizing the need to improve the region’s competitive position to support a knowledge-based economy, the Regional Growth Partnership has contracted with IBM Global Business Services consultants to advise and develop further strategies to attract inward investment and economic development to the region.
“For a long time we’ve focused on successfully attracting and expanding high quality business activity, but as the world globalizes and attracting investment becomes more competitive, we need to stay ahead of the game,” said Bill Brennan, chairman of the Regional Growth Partnership Board of Directors. “This is about continuing to be smart. We have to understand what skills are needed in this new economy and where Toledo and Northwest Ohio must invest to remain competitive in the areas of innovation and technology, so our economic development plan is effective as possible.”
IBM’s global location strategy consultants will work with the RGP to ensure that the region’s economic development plan to attract new business is based upon meeting the current and future needs of potential investors. This includes assessing Toledo and Northwest Ohio’s skills and competitive position in core business sectors against those of similar regions. This is to ensure investment decisions are based on sectors of strength and market demand.
As a further area of focus, IBM will help the RGP team with understanding in-depth the needs, demands and strategies of international and domestic corporate location decision makers. Additionally, the team will also focus on the collaborative strengths and expertise that area colleges and universities can provide to investors.
“I think this is a very unique approach to targeting because we’re creating a model based on the perspective of site consultants, who play a major role in the site selection process,” said Tom Blaha, executive director of the Wood County Economic Development Commission, who also praised the regional outreach for this initiative. “This is a way of finding our strengths and weaknesses through the eyes of our client.”
IBM Global Location Strategies, also known as IBM-Plant Location International, is part of IBM Global Business Services and specializes in advising clients about corporate location, inward investment and economic development strategies. Corporate location strategy consultants focus on analyzing international and domestic business locations for expanding or consolidating companies to select the optimal location against best shareholder value. Inward investment and economic development strategy experts work with regional development organizations to analyze competitive global positioning versus other regions and define such tactics as marketing strategies.
“Economic development is changing as the world globalizes and job growth opportunities shift. Developed and developing regions must stay ahead of competitors by defining and implementing new strategies to be successful,” said Gene DePrez, associate partner, IBM Strategy and Change Americas Leader for Global Location Strategies, IBM Global Business Services. “More than ever, regions need to offer the mix of skills and businesses that aid innovation for regional and international companies who are choosing locations to help them move ahead in their marketplaces.”
IBM has been active for more than 45 years in those areas and has advised over 2,000 companies on location decisions, worked with over 100 government agencies promoting economic development strategies and performs more than 1,000 location assessments each year.
The Regional Growth Partnership is a private nonprofit development corporation dedicated to fostering local, national and international economic growth opportunities for Northwest Ohio.
For more information about IBM, visit http://www.ibm.com/bcs/pli