Marketing and Economic Development

Marketing for economic development is often routinely treated as a series of special cases addressing specific market segments (tourism, specific industry, etc.) or community attributes in general. City and regional marketing plans/packages are therefore often thematically disjointed. Most prospects, however, are going to view a locality holistically, rather than a set of (hopefully advantageous) conditions associated with a single economic sector. This is especially true for the types of high-tech industries most places want to attract. 

A comprehensive marketing package of community attributes is a definite improvement over single-purpose materials. To best convey a “whole greater than the sum of its parts” however, community/regional marketing materials should be backed up by a branding exercise based on a strategic planning foundation.

The following example highlights the role of marketing within one particular strategy-based initiative – communitywide sustainable development – that also provides a marketing theme through which a locality can distinguish itself. Understanding that each locale has something different to offer in terms of resources and economic base (cleantech, agriculture, biotech, logistics, etc.), the purpose of this discussion piece is to illustrate how the sustainability theme, if complemented by a clear, comprehensive, and strategically based marketing plan, can help cities and regions differentiate themselves within the marketplace to promote economic development.

Role of marketing in the theme of sustainable development

Typically, economic development and sustainability are not considered synonymous. Sustainability practices tend to be viewed as impediments to economic development. However, in essence sustainable development requires:

• A broad perspective on economic, social and ecological effects;
• A long-term perspective focused on the interests and rights of current and future generations; and
• A holistic and inclusive approach to action – understanding the importance for all people to be involved in the process.

Sustainability, in this context, provides a way for places and their economic development practitioners to:

• Foster a competitive advantage for itself and hosted firms through supporting innovation in sustainability technology and practices;
• Promote cohesion among development uses (e.g. industrial symbiosis);
• Demonstrate a community’s commitment to quality development; and
• Encourage mechanisms and activities related to public/private partnerships, which generally increase the options for attracting preferred businesses.

All of these components, from a marketing perspective, contribute to creating an attractive “brand” by which communities can distinguish themselves from competing places.  

A key component in effectively marketing a city/region is the alignment of targets, goals and strategies across the public and private sectors. A municipality can take the lead in creating a focus on sustainability by creating relevant programs and ensuring intra- and interdepartmental cooperation across operations and the development of local and regional plans. To begin this process, all involved departments and staff need to be made fully aware of both the options available for enhancing sustainability and the full range of impacts of their policies. With a well-conceived municipal program in place, private-sector buy-in to a sustainability program is more likely.

How Portland has integrated its sustainability program with ways of communicating this message

Portland, OR has developed a multi-faceted approach to its sustainable development campaign. The City hosts a number of online resources, through multiple agencies, that provide information on goals, strategies and opportunities for developing sustainably. The PDX Lounge, found within the City’s Bureau of Planning and Sustainability website, acts as a collaborative network of local government agencies, businesses and non-profit organizations focused on advancing sustainable industry in Oregon. The Planning and Sustainability website is also home to the BEST Business Center, which acts as a “one-stop shop” for businesses that want to become more sustainable. They provide a free on-site evaluation for energy, water, waste, recycling, purchasing, green building and transportation.  

Overall, the City of Portland provides a number of resources that will aid in promoting Portland as a sustainable city and encourage sustainable economic development. The City’s resources provide a clear message about goals, targets, and strategies that help existing and prospective businesses fit into the City’s vision and approach to sustainability. The City’s program is both a component of economic development and a market-differentiating development theme. 

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Comments

[home based network marketing]

Very informative and interesting post to be read...thanks

[Matt @ Distributorship Opportunities]

When I think of economic development, I usually just think of lowering taxes. As helpful as some of the government's resources can be like the SBA or even the grant programs they have, there is no substitute for the free market when it is let loose from regulations and a majority of taxes.

[Patty]

Sustainability is also a good kind of marketing strategy as well.