Brittany Jones Associate Director Fall 2012

Sycamore Student Ventures: Our Mission Experiential learning laboratories – Real-world business operations – Real clients Rigorous culminating course for all business majors Bridge gap between college experience and professional career

Sycamore Business Advisors SyBA Entrepreneurship Team SyBA PCEDO Team Sycamore Blitz Promotions Executive Express Cafe Current Café Teams (2) Learning Lab Team Future Café Team Café Marketing Team Sycamore Student Ventures Organizational Chart: Fall 2012

Individualized client-focused business services -Strategic Process Consulting -Business Plan -Operational Business Plan -Operational Start Up Plan -Feasibility Study Sycamore Business Advisors: Services

Parke County Economic Development Organization A Three Year Vision Using the Strategic Logic Model Sycamore Business Advisors Presents:

Parke County

Background Information: Total Population: 17,342 (2011) Population Increase from 2001 – 2011: 0.70% Rockville is largest town and County Seat State Parks: Turkey Run, Shoals and Shades

Background Information Cont Largest private sector employer in Park County is Futurex Industries with 110 full time employees. The top 4 Employers in Park County are government run. The manufacturing sector provides $28.7 million in annual payroll to Park County residents.

C x R = ED

PCEDO 3 Year Vision To add value to Parke County’s stakeholders by means of developing a small to medium sized industry, create strong community involvement, expand the PCEDO’s work force, and increase the PCEDO’s profitability over the next 3 years.

Recommendations Focus heavily on marketing material Build community involvement programs Collaborate with ISU to establish internship program Collaborate with Vermillion Mega Rise Complex

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

Gap Analysis Theory Current Strategic Plan of Action Desired

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

$10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy Financial Success Current Desired

Financial Success (current) $10,000 annual budget Covered Bridge Festival is biggest tourist attraction (Fall) Maple Syrup Festival is other major event (Winter)

Financial (Desired) New sources of revenue – A new business in the county to draw in more tax revenue – An overnight attraction to increase the number of tourists staying at local hotels (innkeeper’s tax)

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks 50+ employee industry Community program implemented Population increase Overnight Attraction Market Success Current Desired

Market Success (Current) Tourism: historical sights, festivals, covered bridges, and 3 state parks. Population: increased 0.7% between 2001 to 2011 Tax incentives for new businesses Three industrial parks established for immediate use

Market Success (Desired) 50+ Employee Industry Overnight Attraction Population Increase Community Program Implemented

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

Markets county to potential business Use tax incentives to attract new business Provide revenue to county Serve as liaison Implement development programs Works with tourism bureau Value Proposition

PCEDO Value Proposition Markets the county to prospective businesses using the resources available in order to provide employment and revenue to Parke County and its strategic stakeholders V – ValueIs the service valuable? R – RarityIs the service rare? I – Imitability Is the service imitable? O – Organization Does the organization deliver their service in a unique way?

Sustainable Competitive Advantage The ability to sustain a long term advantage through differentiation. What allows a business organization to experience long term success through differentiation or specialization. Delivering service in unique way

PCEDO Value Proposition Valuable – PCEDO delivers a service that is valuable to Parke County. – Aims to grow community, industry, and revenue Rarity – PCEDO services are rare; Only service that delivers economic development to Parke County – PCEDO has rare resources, networks, and funding Imitability – PCEDO services are not easily imitated – Hard for new organizations to gain access to resources, networks, skills, and credibility possessed by PCEDO Organization – The PCEDO internal processes do not differentiate themselves from the market – PCEDO faces competition for limited resources

PCEDO Value Proposition PCEDO must create a sustainable competitive advantage in order to deliver on the value proposition The sustainable competitive advantage of PCEDO will be created when the organization creates unique internal process that differentiates their organization from competing economic development organizations.

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

Gap Analysis Theory Current Strategic Plan of Action Desired Rated on a scale of 1 through 10 White number represents where you need to be Orange represents where you are currently

Operations - 4 Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Operations - 10 Human Resources – 7 Marketing – 10 Finance – 8 Internal Process Current Desired

Internal Processes - Operations Current – Carried out by Kristin with county board approval – Attend site selection networking events – Manages unsold foreclosed properties – Provides loans to develop small businesses – Works with West Central Indiana Accelerate Program Desired – Improve internal process to exploit operations more efficiently 0 4 _ _ 10.

Internal Processes – Human Resources Current – 1 employee – Current effectiveness ranking 3 Desired – 1 additional full time employee – Intern from ISU – Desired effectiveness

Internal Processes - Marketing Current – No brochure, no business cards, no website – Current effectiveness ranking 1 Desired – Have professional website, business cards, and brochure – Have marketing plan in place – Desired effectiveness

Internal Processes - Finance Current – $5,000 a year, $100,000 available for loans to businesses, $500,000 in TIF funds. – Current effectiveness ranking 6 Desired – Have a TIF fund of 1.5 million – Have structured fundraising programs – Have 15K per year for operations – Desired effectiveness

Internal Processes Communication – Very involved in community engagement – Current effectiveness Management Information Systems – Current effectiveness ranking Accounting – Kristin does all of the accounting – Current effectiveness ranking

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model

Org. Learning & Innovation Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current Desired

Organizational Learning and Innovation (Current) Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project

Organizational Learning and Innovation (Desired) Continue strategic alliances with ISU and develop alliances with local economic development organizations. Subscribe to local economic development e-journals Build an Advisory Counsel

Org. Learning & Innovation Internal Process Value Proposition Market Success Financial Success Current Human Resources – 3 Marketing – 1 Finance – 6 Accounting – 9 MIS – 10 Communications - 10 Desired Human Resources – 7 Marketing – 10 Finance – 8 Current Tourism Increase in population of.07% from 2001 – 2011 Tax incentives for new businesses Three industrial parks Desired 50+ employee industry Community program implemented Population increase Overnight Attraction Current Working with Accelerate West Central Indiana Working with SyBA Working with ISU marketing project Desired Increase employment/ add unpaid intern Help facilitate community engagement Develop beneficial relationships Current $10,000 annual budget No formal grant proposal process No overnight attraction Covered Bridge and Maple Syrup festivals are biggest tourist attractions Desired New business to increase tax revenue Overnight attraction to increase overnighters Potential income from wind energy - Markets county to potential business -Use tax incentives to attract new business - Provide revenue to county - Serve as liaison - Implement development programs - Works with tourism bureau Strategic Logic Model