Economic Development is an adrenaline business and agencies seem to be operating out of a major fishing tournament marketing playbook. 

Let’s stop and think about this a moment.  They identify the species they intend to pursue (business sectors), draw the best fishermen (business development managers), offer new, colorful, and enticing lures (big incentives), cast a line into unmarked fishing waters, and tempt the targeted species with their fishing gear (aggressive and unique marketing).  A win in both industries garners lots of attention and the adrenaline of the chase is on and addicting.

With economic development, however, it’s more than the size of the fish that matters.  It needs to be alive, really alive and needs to have high growth potential with large amounts of opportunity to bear more fish.

The State of Michigan has identified the core species they are chasing –  massive industries with high expansion potential and lot of jobs.  These are big and alive.  Land one and the story of how you did it will be told around C-Suite campfires around the nation.  From the November 2017 Michigan Economic Development Corporation annual meeting presentation, the following are the ones they are actively chasing:

Aerospace: “Nearly 700 aerospace-related companies call Michigan home thanks to materials research facilities, major tooling companies and nationally ranked engineering universities.”

Agribusiness: “Agribusiness is Michigan’s second largest industry, and second in diversity only to California. From ranking first in milk production to becoming the home of Grey Poupon mustard, Michigan offers innovative manufacturing capabilities and top agribusiness research and university programs, including the nation’s first land grant university Michigan State University.”

Cyber Security: “Cyber Security is one of the foremost issues that affect industries. Michigan’s Cyber Initiative,  the world’s first comprehensive state-level approach to cyber, is improving the state’s defenses while fostering rapidly growing cyber talent and business environments. Michigan’s Cyber Range offers a secure, unclassified environment to conduct ethical hacking and penetration testing.”

Advanced Manufacturing: “Michigan’s advanced manufacturing capabilities are innovating the materials and systems that are revolutionizing industries, including aerospace, automotive/mobility, and carbon fiber-composite materials.”

Mobility: “Michigan is the epicenter of the global automotive industry. And we are revolutionizing the way the world moves again — transforming global mobility — by leading connected autonomous vehicle development with Mcity, the American Center for Mobility and Planet M.”

The State and local development folks can’t do it alone.  Pull out your tackle box.  If you have the lures to help them pull in a big one, let MLC know and we’ll help get you into the tournament.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.