Nationally, approximately 75 percent of job growth from economic development is generated from existing companies. Any sound economic development program provides attention and support to its local businesses and industrial companies as a first priority. Ninety-five percent of the Huntsville regional economy is dependent on the existence of its small businesses – which highlights the need for the Chamber to aggressively help small and large companies expand. The Chamber’s business retention and expansion strategy is intended to limit the decline of local jobs due to employer downsizing, the selection of other cities as opposed to the Huntsville area for expansion, and to grow our local large and small businesses.

Your investment is important because it allows your Chamber to:

• Aggressively meet with small and large member companies one-on-one annually to educate them on available statutory incentives to assist with expansion needs.
  
  
• Contact local employers at the headquarters level to discuss advantages the Huntsville community may have to relocate for their business.
  
  
• Develop special business forums for targeted industry sectors and small businesses designed to help them make informed decisions that will help grow their businesses.

Past results include:

• The Huntsville region accounts for almost half of the net new jobs created in the state of Alabama since 2000. Since HREGI’s implementation in 2004, more than 18,440 jobs from expanding companies have been created with more than $1.5 billion in capital investment. These results far exceed our goal of 2,100 new jobs from existing industry and $750,000,000 in capital investment.
  
  
• Madison County announced more total new and expanding jobs in its primary business sectors than any of the 67 Alabama counties over the past 5 years and was ranked first in the state each year.

Quantifiable Goal:

• Help existing companies create at least 2,100 jobs annually in the Huntsville region.

Recruit Targeted Businesses

Implementing an aggressive business recruitment program aimed at targeted industries is a proven successful economic development strategy for the Huntsville region. Through HREGI, The Chamber of Commerce conducted an economic development study looking forward 10 years to determine which targeted industries provided the best opportunities for future growth, thereby providing the blueprint for the Chamber to focus its business recruitment efforts.

The industries identified with the most growth potential were in the following business areas: aerospace and defense; distribution and logistics; life sciences and biotechnology; advanced manufacturing; and office and administrative operations. The study, which was conducted by a nationally recognized leader in business location consulting, also identified community strengths and challenges which should be addressed in order for the community to realize its economic growth potential. Consequently, it is expected that successful recruitment in these areas will create thousands of new jobs and expansion opportunities over the next years.

Your investment is important because it allows your Chamber to:

• Plan and implement an aggressive recruitment strategy for targeted industries that will employ the use of regional partnerships in pursuit of economic development projects and opportunities.
  
  
• Create and implement an extensive marketing campaign for business location consultants and business prospects through a proactive prospect generation plan that continues to develop a diverse workforce base while complementing the community’s existing economic strengths.

Past results include:

• Successful implementation of this economic growth initiative resulted in the Huntsville region being recognized – statistically and by reputation – as the top technology-based region in the South. Since its implementation in 2004, our community moved from mere mention of Huntsville among peer cities - to the community others desire to be.
  
  
• The Huntsville Metro led most other Southeast metros in employment growth for Professional, Scientific and Technical workers over the past five years and was on par with other leading technology centers such as Austin, Raleigh and Charlotte.
  
  

Quantifiable Goal:

• Annually announce at least 400 primary jobs from new companies.

Grow the Community’s Defense and Aerospace Assets

The defense and aerospace industry comprise Huntsville’s most obvious economic growth opportunity. Strong and continued support of Marshall Space Flight Center’s programs, along with an aggressive campaign aimed at maximizing the growth of Redstone Arsenal’s defense-related programs, will be key to maintaining and expanding the core of our local economy. The impact of Redstone is felt not only through over 30,000 direct defense and aerospace jobs, but also through the numerous government contractors located in Cummings Research Park and throughout the community. Huntsville’s traditional role as a leader in the defense and aerospace industry will be used to attract and grow additional programs.

Your investment is important because it allows your Chamber to:

• Advocate on both the state and federal level to protect and grow thousands of high-paying jobs and the spin-off effect of continued growth in defense and aerospace which is constantly at stake and is directly dependent upon the effectiveness of these efforts.
  
  
• Build on Redstone’s capabilities and capacity to attract additional commands, federal agencies and programs to the installation, keeping Redstone at the forefront of the nation’s leading technologybased federal campus.
  
  
• Pursue additional opportunities that will keep the Huntsville community a vital part in the support of the defense of our nation.

Past results include:

• Successful recruitment of 4,700+ directly related jobs and an expected 5,500+ contractor jobs as a result of the 2005 Base Realignment and Closure (BRAC), which has brought/is bringing the U.S. Army Materiel Command, the Missile Defense Agency, the U.S. Army Space and Missile Command and the 2nd Recruiting Brigade, among others.
  
  
• Implemented programs that aggressively seized opportunities in aerospace and defense, while continuing to diversify our economy in other industries.
  
  
• The number of defense and aerospace companies in Cummings Research Park has grown more than 25 percent over the past five years, from 225 companies to more than 300 companies and several thousand more jobs.

Quantifiable Goals:

• Continue to position Redstone as a center of excellence for U.S. Army Aviation research and development to attract more companies, workers and federal employees to the region.
  
  
• Continue to leverage the programs and scope of work performed at NASA’s Marshall Space Flight Center.
  
  

Support efforts to ensure there is adequate quality and quantity of workforce to meet employer needs

A well-prepared, diverse workforce is essential for continued economic growth in the Huntsville region’s targeted business sectors. Successful economic development is not possible without a skilled workforce pool to meet current and future workforce needs for targeted industries. For continued growth in those industries, it is imperative that the Chamber continue to recruit and attract workforce candidates from across the Southeast and the nation. It is equally important that the Chamber continue to work with the local educational system, including K-12, local universities, colleges and two-year colleges, to ensure that their programs meet current and future workforce requirements for sustained and successful workforce development.

Your investment is important because it allows your Chamber to:

• Support local companies through the attraction of viable workforce candidates with the skill sets to meet the needs of local businesses and employers in our targeted industries.
  
  
• Support the growth and development of young professionals that will aid in both recruitment and retention for future and current employers to help fill projected skill gaps created by an aging workforce.
  
  
• Continue a comprehensive workforce program to ensure a steady pipeline of workers for our community’s high growth careers.
  
  
• Continue to lead and support 2005 BRAC moves to better position the community for future BRAC success.

Past results include:

• Implementation of an on-going national workforce marketing and recruiting campaign.
  
  
• Since the implementation of the workforce initiative, local employment has increased 18.3 percent, or 3.7 percent per year for the five-year period 2004-2008.
  
  
• The local area labor force has grown 15.6 percent for an average of 3.1 percent per year compared to the previous five-year growth of 2.9 percent (0.6 percent per year).
  
  
• The annual rate of population growth for the Huntsville Metro Area has doubled over the past 5 years with a total population increase of 10.5 percent (2.1 percent per year).
  

Quantifiable Goal:

• Grow labor force in the Huntsville region annually by 3 percent or better.
  

Community Image Enhancement

The importance of a strong national image enhancement campaign is as great as at any time in our community’s history. Showcasing the Huntsville area as one of the nation’s premier high-tech communities is critical to our community’s future economic growth. Image plays a vital role in whether companies, employees and their families consider relocation opportunities to Huntsville. Additionally, our community’s business advantages benefit from a positive business environment image. The Chamber impacts the development and promotion of our community image through a strategic campaign focused on state, national and international publications as well as the social media. Success in these areas is used to position Huntsville as the best technology center in the Southeast, with a positive national and global reputation.

Your investment is important because it allows your Chamber to:

• Promote the community’s message and create platforms designed to enhance the Huntsville region’s image using all forms of media including websites, marketing collateral and printed publications.
  
  
• Conduct internal and external communications and image campaigns that benefit existing industries while attracting the attention of new industries and potential workforce.
  
  
• Create and implement a marketing plan designed to benefit the entire community and all targeted industry growth areas.

Past results include:

• Specific examples of success include recognition by Kiplinger’s Personal Finance as the “No. 1 City in the Country”, Forbes Magazine named Huntsville “One of the Leading cities for business” and “One of the Top Cities for Defense Jobs,” U.S. News and World Report named Madison the “2nd Best Place to Grow Up in the U.S.,” Businessweek named Huntsville the number two city among America’s 25 Next Recovering Job Markets; and the Christian Science Monitor named Huntsville one of America’s next “Boomtowns.”

Quantifiable Goals:

• Showcase the high tech community we live in through multi-media formats designed to attract targeted industries and workforce candidates.
  
  

Develop the Capacity for New and Sustained Economic Growth

Our community will be in better position to attract future economic growth provided that it is prepared to compete with other cities and their highly aggressive economic development efforts. Necessary components of a community well-prepared for economic development include physical infrastructure, a ready workforce, responsive local government, a meaningful economic development plan and sustained funding for marketing. As the lead economic development organization for the Huntsville community, it is the Chamber’s responsibility to provide influence in the preparation of our community by working closely with other area leaders. The Chamber frequently identifies important community issues and needs through its interaction with exisiting employers, business prospects, consultants and allies. This information is critical to ensuring that the Huntsville area is prepared to accommodate the growth it is pursuing.

Your investment is important because it allows your Chamber to:

• Develop and maintain a long-term strategy which is a key to our future success.
  
  
• Maintain a constant state of review and evaluation of our area’s infrastructure, increasing workforce availability, utilities and transportation to ensure readiness and responsiveness for successful economic development.
  
  
• Work with local, state, regional and federal economic development allies to anticipate, identify and address issues essential to community development and preparation.

Past results include:

• The Chamber helped communicate to state leaders that supporting Huntsville’s infrastructure needs to handle continued growth positively impacts the rest of the state. As a result, the community, which was previously receiving only 53 percent of locally generated state revenue, is now receiving back 94 percent of what is sent to state government. • The Chamber continues to speak with a unified voice for the community, enabling more effective representation for the collective business community and regional economic growth.

Quantifiable Goals:

• Continue to foster positive working relationships that promote long term economic growth for the Huntsville region by working with local and state leaders to ensure that infrastructure needs are met.
  
  

Be Accountable to Our Investors

An essential part of HREGI’s comprehensive strategy is the Chamber’s accountability to investors using specific economic growth performance measurements, and effective relationship management with investors.

Your investment is important because it allows your Chamber to:

• Access return on investment through the use of objective, quantifiable performance measures.
  
  
• Leverage your investment with others to enable the Chamber to continue working with local, state, regional and federal economic development allies to enhance marketing and create more effective political advocacy.

Past results include:

• Developed multiple communications tools that keep investors informed on the many activities, programs and goals of the Chamber.
  
  
• The Chamber routinely conducts small group and one-on-one meetings with investors to effectively communicate progress toward goals and opportunities for improvement.
  
  
• Evaluated and refined each event, seminar and meeting to ensure that members’ needs are being met.
  
  
• Created an annual scorecard of trended data to present to HREGI investors to measure whether the Chamber is meeting its goals and objectives

Quantifiable Goals:

• Assess Huntsville/Madison County’s economic growth using relevant performance criteria as compared with peer communities, and proactively communicate this information to HREGI investors on an on-going basis.