September 06, 2011
Partnership announces new strategic plan
The Cincinnati USA Partnership, the economic development arm of the Cincinnati USA Regional Chamber, recently announced a new strategic plan designed to significantly accelerate the growth of jobs and business investment in the region. The new strategy will be comprehensive in its approach to driving job growth and will incorporate a strong focus on all three key aspects of economic development-- retention and expansion, entrepreneurship and attraction.
At the core of the Partnership’s new strategy is a sharper focus on business growth efforts in the region’s industry clusters-- areas where the region has an unusually high concentration of investment by specific industries and related suppliers.
The Cincinnati region has several strong industry clusters in which it is highly competitive on a national scale, including consumer marketing, biotechnology and advanced manufacturing. Key economic development efforts will be tied to strengthening and growing these critical industries in the region.
Also included in the plan is a “grow our own” strategy intended to devote more resources to help local companies expand and drive job growth. In Cincinnati USA, of the $2.4 billion in total investment made in 2010, 74 percent, or almost $1.8 billion, came from existing businesses. In this vein, the Partnership will significantly enhance its efforts, building on the existing GrowthForce platform, to cultivate and accelerate the growth of regional businesses.
The Partnership also will develop a comprehensive marketing platform for the Cincinnati region that speaks to the region’s key assets, promotes its unique competitive advantages, and showcases the region as a vibrant destination for companies.
To help accomplish these goals, the Partnership recently hired Denyse Ferguson, former CEO of the Lansing Area Economic Partnership, to manage the industry-cluster activity and specifically lead the Consumer Marketing Center. Ferguson brings economic development and consumer-marketing experience to transition the Partnership to an across-the-board, cluster-based economic-development team.
The strategy is designed to achieve the region’s goal of 200,000 net new jobs by 2020 and to secure a top-quartile ranking in the Agenda 360-Vision 2015 Regional Indicators Report by 2015.
“This plan delivers a solid infrastructure to support the high-growth potential of the Cincinnati USA region. We believe it is right plan at the right time to capture our region’s rightful place as one of America’s favorite business centers,” said Julie Janson, chair of the Cincinnati USA Partnership and president of Duke Energy Ohio and Kentucky.
The strategy was unveiled as part of an event outlining the new statewide economic development strategy led by the Ohio Department of Development and JobsOhio. The Cincinnati USA Partnership has been designated as one of six regional economic development agencies across Ohio charged with leading job-creation efforts at the local level. As the official Southwest Ohio JobsOhio Network Partner, the Partnership will be the access point to state financial incentives in Brown, Butler, Clermont, Hamilton and Warren counties.