Dryden Case Study
2
Synopsis: Dryden Development Corporation (DDC) chose McSweeney & Associates to gather community statistics, and then create an economic development plan and supporting marketing materials. These tools have helped generate an upsurge in new investment interest in Dryden—and attracted new business. Challenge “When I was hired as the Economic Development Officer, four years ago, Dryden relied primarily on one industry,” says Vicki Kurz, Economic Development Manager, DDC. “We knew we needed to diversify. The trouble was, we didn’t have a strategy to achieve it.” Ms. Kurz’ search for an answer led to an economic development workshop. “The EDCO-LETI workshop explored an economic development concept ‘investment readiness’ from the point of view of a U.S. site selector,” she says. “It also explored the concept using small communities as test cases. I left the workshop with a firm sense of the steps Dryden could take to diversify the local economy.” Solution—Strategic Choice The first step was to bring on board a knowledgeable, experienced economic development consultant—and McSweeney & Associates satisfied Dryden’s Request for Proposal requirements. “Eric McSweeney’s first assignment was to assess Dryden’s investment readiness—and he didn’t beat around the bush. At a City Council meeting, he showed us that we needed to improve in several critical areas before we would be able to respond adequately to serious investment queries.” Mr. McSweeney’s initial investment readiness report, plus his community understanding and insight, led Dryden to ask McSweeney & Associates to produce a suite of tools to help it achieve investment readiness. City of Dryden Profile Dryden is a vibrant urban Northwestern Ontario community with an economy based on exploration and mining, renewable energy, manufacturing and tourism. Dryden offers low tax rates, registration fees and land costs. On the Trans-Canada Highway, it is the region’s financial, accounting, real estate, healthcare and transportation hub. “If we wanted to diversify and attract investment, we had to be investment ready. It was that simple.” – Vicki Kurz, Economic Development Manager, Dryden Development Corporation CASE STUDY Community Competitiveness and Investment Attraction
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Dryden Case Study
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Synopsis: Dryden Development Corporation (DDC) chose McSweeney &Associates to gather community statistics, and then create an economicdevelopment plan and supporting marketing materials. These tools havehelped generate an upsurge in new investment interest in Dryden—andattracted new business.
Challenge“When I was hired as the Economic Development Officer, four years ago,Dryden relied primarily on one industry,” says Vicki Kurz, EconomicDevelopment Manager, DDC. “We knew we needed to diversify. Thetrouble was, we didn’t have a strategy to achieve it.”
Ms. Kurz’ search for an answer led to an economic development workshop.
“The EDCO-LETI workshop explored an economic development concept‘investment readiness’ from the point of view of a U.S. site selector,” shesays. “It also explored the concept using small communities as testcases. I left the workshop with a firm sense of the steps Dryden couldtake to diversify the local economy.”
Solution—Strategic ChoiceThe first step was to bringon board a knowledgeable,experienced economic developmentconsultant—and McSweeney &Associates satisfied Dryden’sRequest for Proposal requirements.
“Eric McSweeney’s first assignmentwas to assess Dryden’s investmentreadiness—and he didn’t beat aroundthe bush. At a City Council meeting,he showed us that we needed toimprove in several critical areas before we would be able to respondadequately to serious investment queries.”
Mr. McSweeney’s initial investment readinessreport, plus his community understandingand insight, led Dryden to ask McSweeney &Associates to produce a suite of tools to helpit achieve investment readiness.
City of Dryden
ProfileDryden is a vibrant urban Northwestern
Ontario community with an economy
based on exploration and mining,
renewable energy, manufacturing and
tourism. Dryden offers low tax rates,
registration fees and land costs. On the
Trans-Canada Highway, it is the region’s
financial, accounting, real estate,
healthcare and transportation hub.
“If we wanted to diversify
and attract investment,
we had to be investment
ready. It was that
simple.”– Vicki Kurz, Economic Development
Manager, Dryden Development Corporation
CASE STUDY
Community Competitiveness and Investment Attraction
McSweeney - DrydenCaseStudy05-2010:Layout 1 7/6/10 10:29 AM Page 1
Solution—ElementsMcSweeney & Associates divided the Drydenassignment. Reports to improve investmentreadiness would precede the tools and stepsto attract investment.
The Community Profile led off. A databaseof essential statistics, the Community Profilesupports the Economic Development Plan andprepares a community to respond to commoninformation requests from site selectors.
“The figures in our previous Community Profilewere more than two years out-of-date—too oldfor site selectors,” says Ms. Kurz. “McSweeney &Associates brought the figures up-to-date and now keeps them current.”
Next, McSweeney & Associates analyzed and reported on Dryden’sstrengths and weaknesses, and then compared those with competingcommunities.
“These reports showed us unexpected strengths, such as workforce skillswe had overlooked, as well as weaknesses we had not recognized. Theyalso led us to diversification options we hadn’t considered, such as entryinto the agri-food sector and the renewable energy sector, a possibilitybecause of our location.”
The Economic Development Plan that followed revealed facets ofDryden that needed investment and strengthening. Marketing collateral,developed last, to reach out and attract investment, rounded outMcSweeney & Associates’ deliverables.
Benefits“With McSweeney & Associates, we followed a logical, step-by-stepprocess,” says Ms. Kurz. “We gained a clearer understanding of Dryden’sstrengths, and can approach site selectors and prospective investors withmore confidence. We know how we can diversify our local economy—andhave a strong buy-in to do this from the Dryden community and localgovernment.”
In essence, “McSweeney & Associates’ has prepared us to attract andto respond effectively to investment queries. It has helped us prepareDryden to diversify its economy. And it has led to many newinvestment queries—and to new investment.”
McSweeney & AssociatesMcSweeney & Associates offers customized economic developmentsolutions for communities large and small through planning andmarketing tools based on analysis conducted by our principals.
900 Greenbank Road, Suite 201 Ottawa, ON K2J 1S8Call: 613 825 2896 (Toll-free: 1-866-304-2896)Fax: 613 825 2889 (Toll-free: 1-877-825-2889)[email protected] or [email protected]
www.mcsweeney.ca © 2010 McSweeney & Associates. All trademarks are the property of their respective owners.This document is summary in nature and subject to change without notice.
City of DrydenMcSweeney & Associates – Economic Development Consultants
“McSweeney & Associates’
work has prepared us to attract
and to respond effectively to
investment queries. It has
helped us prepare Dryden
to diversify its economy.
And it has led to many
new investment queries
—and to new investment.”– Vicki Kurz, Economic Development
Manager, Dryden Development Corporation
Benefits-At-A-Glance• Knowledgeable, experienced team
• Serious, straight-forward approach
• Logical, step-by-step process
• Analysis that revealed the unexpected
• Improved insight into community strengths
• Strengthened confidence
• Many new investment queries
• New community investment
McSweeney - DrydenCaseStudy05-2010:Layout 1 7/6/10 10:29 AM Page 2
