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Campaign Assessment Report Resource Development Group, Inc. November 16, 2006

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Campaign Assessment Report Resource Development Group, Inc. November 16, 2006 – PowerPoint PPT presentation

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Title: Campaign Assessment Report Resource Development Group, Inc. November 16, 2006


1
Campaign Assessment Report Resource
Development Group, Inc. November 16, 2006
2
ASSIGNMENT
  • Minimum of 40 interviews
  • Depth of understanding and support for MBREDCs
    economic development agenda
  • Test funding goal of 500,000 per year x 5
  • Identify possible funding sources
  • Identify potential leadership
  • Identify possible obstacles

3
INTERVIEW POOL
Attorneys 2 Education 2 Associations 2 Accou
nting 1 Restaurant 1 Agribusiness 1 Technolo
gy 1 Transportation 1 Investors 1 Advertising
/Marketing 1 Distributing 1
  • Financial Services 9
  • Utilities 8
  • Construction 5
  • Manufacturing 5
  • Real Estate 5
  • Developers 4
  • Engineers 4
  • Medical 3
  • Government 3
  • Retail 3
  • Media 3

4
INTERVIEW POOL
  • 8 of 9 Executive Committee Members
  • 71 of current MBREDC investors
  • 96 of current funding
  • 36 non-investors

5
KEY FINDINGS AND RECOMMENDATIONS
  • Partners legacy broad and deep
  • MBREDC is unknown commodity
  • Opinion of Hugh is high
  • Broad support for program of work but skeptical
    of success
  • Enhance measurable benchmarks
  • Good potential to grow investor base

6
MBREDC Positives
  • New Board
  • New, Energized Staff
  • Horry County 5-year commitment
  • 400,000 annually for 2006 2008
  • Private sector match in 2009
  • 60 private/40 public in 2010

7
CAMPAIGN CHALLENGES
  • Partners History
  • Historically Narrow and Declining Investor Base
  • Artificially Low Investment Benchmarks
  • Lack of Leadership Engagement

8
NON-FUNDING RECOMMENDATIONS
  • Explore Expanding Program of Work
  • 42 cited poor infrastructure as 1 business
    development hindrance
  • 17 cited need for new Target Industry Study
  • 17 cited the need for a workforce study and
    professional workforce recruitment
  • 11 cited the need for a plan to bring local
    industry, CCU, HTC and MBREDC together to address
    workforce needs
  • Expand/Enhance Measurements

9
NON-FUNDING RECOMMENDATIONS
  • Adjust and Enhance Investment Levels
  • Governance Adjustments
  • Investor Engagement Via Committees
  • Education, Education, Education!!!

10
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11
Top 14 vs. Total Income
12
Top 14
  • Current Top 14
  • Santee Cooper 40,000
  • Coastal Carolina University 15,000
  • Horry Telephone 7,500
  • Verizon 7,500
  • Bank of America 5,000
  • BBT 5,000
  • Burroughs Chapin 5,000
  • Conway Medical Center 5,000
  • Conway National Bank 5,000
  • Horry Electric 5,000
  • Loris Community Hosptial 5,000
  • Metglas 5,000
  • Myrtle Beach Chamber 5,000
  • Time Warner 5,000
  • Total 120,000
  • Projected Top 14 Minimum Stretch
  • Santee Cooper 40,000 40,000
  • Burroughs Chapin 20,000 25,000
  • Horry Telephone Coop 10,000 20,000
  • G. S. Water Authority 10,000 15,000
  • Conway National Bank 10,000 15,000
  • Horry Electric Coop 10,000 15,000
  • Wachovia Bank 10,000 15,000
  • Bank of America 10,000 10,000
  • BBT 10,000 10,000
  • The Jackson Companies 5,000 10,000
  • Conway Medical Center 10,000 10,000
  • CCU 15,000 15,000
  • Loris Community Hospital 10,000 10,000
  • Verizon 7,500 10,000
  • Total 177,500 220,000

13
RECOMMENDATIONS
FUNDING ALLOCATIONS
14
PRIVATE SECTOR REVENUE POTENTIAL
  • Guarantee
  • 1.5 million
  • 300,000 per year
  • 5 year spread (2007 2011)
  • 85 annual increase in current private sector
    support
  • Recommended Public Goal
  • 2 million
  • 400,000 per year

15
HOW DO WE DO IT?
  • Elevate investments of current base
  • Broaden the investor base (30 - 40)
  • Investor and community outreach/education

16
WHAT DOES THIS MEAN?
  • Reminder
  • Horry County 5-year commitment
  • 400,000 annually for 2006 2008
  • Private sector match in 2009
  • 60 private/40 public in 2010

17
WHAT DOES THIS MEAN?
  • Projected Net Funding minus RDG Fee in
  • Status Quo 300,000 400,000
  • FY 07/08 562,000 592,000 692,000
  • FY 08/09 562,000 664,000 764,000
  • FY 09/10 324,000 600,000 800,000
  • FY 10/11 267,000 500,000 667,000
  • FY 11/12 267,000 500,000 667,000
  • Total 1,982,000 2,856,000 3,590,000
  • Annual Average 396,400 571,200 718,000

18
Benchmark Communities
  • Cities Campaign I Campaign II
  • Wichita, KS 3.5 million 8 million
  • Pensacola, FL 2.5 million 5 million
  • Rocky Mount, NC 1.5 million 4 million
  • Lexington, KY 2.5 million 5 million
  • Shreveport, LA 1.1 million 3.5 million

19
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20
CAMPAIGN LEADERSHIP
  • Honorary Co-Chairs
  • Campaign working group
  • MBERDC Executive Committee
  • Advice, counsel, assistance and oversight

21
NEXT STEPS
  • Identify and Recruit leadership
  • Screen Top 50 Prospects
  • Prepare collateral materials
  • Commence community outreach/education

22
Campaign Assessment Report Resource
Development Group, Inc. November 16, 2006
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