Explore Our Capabilities

Economic Development

Overview

Parker Poe Consulting offers strategic and tactical economic development consulting services to state, regional and local economic development organizations (EDOs) aiming to attract new capital investment and job opportunities to their respective service areas, resulting in greater economic performance and sustained growth. Our consulting services are designed to enhance the EDO’s ability to meet these goals by aligning their economic development efforts with the needs of the companies they work to recruit.

Featured Experience

Our consultants’ collective careers span more than 35+ years in state, local and regional EDOs. We bring our experience and market knowledge to each new engagement, allowing us to exceed client expectations in every way. Our overall economic development efforts have resulted in more than $12.4 billion in direct new capital investment and the creation of more than 80,000 new jobs. Listed below is a sampling of our most recent economic development clients and a brief aggregated summary of our work with these clients.

  • We routinely serve as on-call economic development consultants to a number of South Carolina counties.
  • Along with support from key subcontractors, we assisted the county in the appraisal of existing industrial product and the development and implementation of a strategic plan to identify property improvements and financing models.
  • Our team recently served in a management and organizational capacity to provide startup assistance that included the creation of bylaws and the formation of the Board of Directors, the executive search and subsequent employment of the current director, assistance with initial budget development and funding, as well as the day-to-day tasks of marketing, management and communications.
  • We served as lead negotiator for a county in South Carolina in their efforts to recruit an advanced textile manufacturing company that was considering a site on which to build their new $110 million facility employing 134 new workers. Our work involved the negotiation of the incentive package on the county’s behalf, an overall analysis of those incentives and oversight of the legal documentation process to ensure consistency between the negotiated incentive offerings and the subsequent performance requirements.
  • We assisted a county with all economic development matters. Our work included providing prospect visit support, assistance with prospect RFI responses, advice and counsel with regard to site development and other related research support. In addition to the aforementioned services, we also performed the county’s executive search and subsequent employment of a new Director of Economic Development.
  • We recently completed an engagement on a new sites initiative. Our role in this directive was to identify and evaluate new industrial sites for counties. Our analysis included an assessment of these sites vis-à-vis specific criteria and prioritized ranking of identified properties.
  • We assisted a county with marketing efforts for its premier economic development site. We developed marketing material, implemented an email marketing campaign and oversaw site engineering due diligence work. Our work resulted in increased interest from prospective buyers and increased awareness of the site’s availability.
  • In support of a city’s efforts to identify and develop marketable economic development sites, we conducted a site search, provided a comparative analysis of available land inventory, provided advice and counsel on the acquisition of property, and guidance on the development and implementation of site infrastructure.

Services

Throughout our careers, we have worked in all levels of economic development and in all aspects of EDO organizational development, management and operations, as well as marketing and communications. Furthermore, our site selection experience gives us a unique perspective on the most effective economic development strategies employed by successful EDOs. Our economic development services fall into four broad categories that include, but are not limited to, the following:

Economic Development Services

External Marketing and Communications

  • Industry cluster analysis and economic base analysis
  • Target industry analysis
  • Branding/positioning/marketing strategy development
  • Communications/marketing materials audit
  • Lead generation programs
  • Website design and development
  • Tactical marketing plans
  • Marketing plan implementation
  • Collateral material development
  • Prospect marketing trips and events
  • Business retention and expansion programs
  • Direct recruitment assistance

Incentives and Financing

  • Tax Increment Financing and Redevelopment Plans
  • Government Accounting Standards Board (GASB) 77 Compliance
  • Incentive policy development
  • Incentive negotiation support
  • Fiscal/economic impact analysis
  • Project financing

Organizational Management and Operations

  • Organizational analysis and review, operational strategies
  • Economic development strategic planning and community visioning
  • Information systems and database management
  • Internal marketing, communications and public relations
  • Benchmarking and best practices studies
  • Board development, retreat facilitation and organizational visioning

Product and Market Development

  • Industrial/business park and shell building development programs
  • Site certification programs
  • Product development, deal structuring and consortium financing
  • Infrastructure investment and associated development programs
  • Workforce assessments and workforce development strategies

Capabilities

The success of our clients is of paramount importance to us; as such, our economic development services are tailored to meet the needs of the EDOs with whom we work. We make it our mission to develop a clear understanding of the EDO’s goals and fully support these initiatives for the success of the communities they represent. Our capabilities in this regard are vast; we have developed technical capabilities focused on economic development incentive modelling and economic/fiscal impact modelling.

Fee-in-Lieu of Tax (FILOT) Model

We have pioneered and made available a Fee-in-Lieu of Tax (FILOT) Illustration Model allowing economic developers to understand the financial impacts of the various fee-in-lieu of tax and special source revenue credit arrangements available to new and expanding companies in South Carolina. Our model offers easy to manipulate variables, built-in tax rates, and automated functionality illustrating the net financial impacts quickly and easily for all stakeholders. Contact us for licensing inquiries or to schedule an online demonstration of the model.

Fiscal/ Economic Impact Model

We are currently developing a fiscal/economic impact model which will be semi-customizable by county and state and incorporate unique state/county-specific elements that can have a significant effect on the model’s outputs. Sign up for our newsletter to stay informed on our progress as we work to finalize our impact model.