The
Dayton Development Coalition (DDC), which serves 14 counties in west central Ohio, is the region’s economic development and advocacy organization supporting job creation.
When deciding where to locate, businesses consider a host of different factors, including a skilled workforce, transportation, logistics, taxes, incentives and educational institutions, when deciding where to locate. DDC relies on its internal data team to research and provide information on these and other important factors to help attract regional economic development.
The data team was recently tapped to present some of its best practices and strategies at the
Economic Modeling Specialists International (EMSI) national conference. According to its website, EMSI provides “high-quality employment data and economic analysis through web tools and custom reports.”
The team shared how it uses EMSI data to target economic development efforts, explains Kristy Rochon, director of DCC’s institutional research and strategic planning. Impressed by the team’s presentation, EMSI is featuring some highlights on its website.
“One of our best practices is how we use data to recruit businesses to the Dayton region,” Rochon says. “When businesses contact us about what they need for their business decision, we put together the most competitive and comprehensive package possible, using data from a host of different sources. Instead of just feeding them data, however, we try to gain as much insight into their company as possible, comparing the Dayton region to where they’re currently located. We consistently go beyond the parameters to give them what they need.”
A second best practice, Rochon explains, reflects how DDC’s data team uses EMSI data to analyze regional competitive strengths and opportunities. “We look at what we call ‘driver industries.’ These are high-skilled industries that carry high job multipliers,” she says. “High job multipliers mean that for every job in that ‘driver industry,’ it’s going to produce additional jobs in that industry.”
She cites aerospace systems, advanced materials manufacturing, biosciences and advanced data management as examples of “driver industries.”
“What we’re looking for here is projected growth or projected decline and trying to understand the factors behind it. The goal is to find ways to strengthen the industry or capitalize on that growth.”
Source: Kristy Rochon, Dayton Development Coalition
Writer: Lynne Meyer