22 Jul 2010

Economic Development Organizational Structure and Marketing

Mr. Monzon co-founded GIS Planning Inc., one of the fastest-growing 5,000 private companies in the United States, according to Inc Magazine. As developer of the first GIS-based website for economic development, Mr. Monzon is an entrepreneur, innovator and technology professional. With over 15 years of experience developing location-based applications and GIS based websites, he has received multiple awards in both the field of Economic Development and Geographic Information Systems. His work has appeared in The Wall Street Journal, CNN, NBC News, and numerous GIS-related publications. Mr. Monzon has lectured about Internet GIS in Europe, the United States, and Latin America. Prior to GIS Planning, Mr. Monzon worked for Vectiv, an online GIS site selection company focused on the retail industry.

The survey from our 2008 book, Economic Development Marketing: Present and Future included questions about the types of economic development organizations. Government and economic development corporations (EDCs) were the most represented types of organizations in the survey. Although there is a negative stereotype of government being less effective and less able to keep up with modern practices of private sector organizations, the results of the survey show that this is not true for marketing within the economic development profession. In fact, government has embraced the most effective marketing strategies and is allocating more funds to the top two most effective strategies, Internet/websites and out-of-town meetings with businesses, than EDCs. In addition, government organizations prioritized new media (e.g. websites) over traditional media (e.g. print advertising) compared to EDCs, which are more private-sector in character. 

These priorities and allocations were not impacted by budget, as the median budgets for both EDCs and public organizations were the same. Public organizations also rated their marketing programs more effective than did EDCs. Chambers of Commerce, which represented about 9% of survey respondents, rated their marketing effectiveness higher than either government or EDCs (see Figure C-4 in the book's appendix). Though they budgeted the least for brochures, Chambers of Commerce budgeted similarly to EDCs for websites and print advertising (see Table C-5 in book's appendix).


Post has no comments.

Post a Comment

Captcha Image