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Best Practices in Business Retention

Best Practices in Business Retention. Best Practices in Business Retention TVA Perspective Business Case for Retention Award Winning Models What’s Next. TVA Perspective. TVA Perspective. Nation’s largest public power producer Over $9 billion in 2006 revenues

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Best Practices in Business Retention

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  1. Best Practices in Business Retention

  2. Best Practices in Business Retention TVA Perspective Business Case for Retention Award Winning Models What’s Next

  3. TVA Perspective

  4. TVA Perspective • Nation’s largest public power producer • Over $9 billion in 2006 revenues • 158 distributors, 62 directly served customers • 221 counties in seven states, serving 8.7 million people • 99.999% reliability for seven straight years

  5. TVA Mission Energy – provide affordable, reliable power Environment - provide environmental stewardship and integrated river management Economic Development – promote sustainable development

  6. TVA Perspective Economic Development is at the core of TVA’s mission. TVA works together with distributor customers, communities, and state and regional economic development partners to: • attract new companies • retain and grow existing businesses • help communities prepare for growth

  7. TVA Perspective • Industrial recruitment • Business Retention • Technical services • Community Development • Entrepreneurship • Retail development and recruitment • Financial assistance Jobs and capital investment are our bottom line

  8. The Business Case Award Winning Models

  9. The Business Case Fortune 500 Top 25 Sectors – 1982 Manufacturing 11 Energy 13 Communications 1 Fortune 500 Top 25 Sectors – 2007 Finance/Insurance 10 Manufacturing 5 Energy 4 Retail 2 Health 2 Communications 1 Technology Services 1

  10. National Manufacturing Trends 548,900 net jobs lost in the US in FY05 5,330 net job loss in Valley 8,050 manufacturers lost in US in FY05 Shifting manufacturing sectors Textiles, furniture, light assembly going offshore Regional disparities occurring Bureau of Labor Statistics 2005

  11. Tennessee Valley Trends 11,325 manufacturing facilities in the Valley 666,000+ manufacturing jobs in the Valley 21.4% total employment 32.7% of rural 16.9% of urban 815,000 additional jobs from multiplier effect $27.0 billion personal income

  12. Cost Benefit Analysis • Recruitment Costs • $1,000 – $50,000 per job • Retention Costs • $200 – $4,000 per job • Source: US Department of Labor & Employment, 2006

  13. New Job Creation - Averages Recruitment 15%

  14. Award Winning Models • Got Focused • Driven at the local level • Strong action plan • Got Prepared • Training • Researched Targets • Pre-determined follow up plans

  15. Award Winning Models • Got Connected • Partnered with industry stakeholders • Learned from the best practices of others • Stayed “connected” to industry

  16. Award Winning Models Blane Canada, Ltd

  17. Award Winning Models

  18. Gibson EMC • Distributor and 2 rural, West Tennessee Counties • Two Unique Strategies • Big Results • Success Breeds Success • 2007 BREI Winner

  19. 0 to 60 in 30 Days • New Economic Development Director • No Existing Industry Program • The Numbers Tell the Story • The Impact of One Call • 2005 BREI Winner

  20. NMIDA • North Mississippi Industrial Development Association • 50% Power Distributors - 50% TVA • Industrial Recruitment Focus • “So, tell me about your workforce…” • 2006 Blane Canada, Ltd Award Toyota General Electric Peterbilt

  21. What’s Next?

  22. What’s next at TVA? Enhancing our company’s approach to retention Aligning internal resources Equipping distributors and communities Integrating current products and services Creating new products and services Incorporating good energy policy with retention Innovative Partnerships

  23. What’s next? Innovation An example: Automotive Research Alliance Workforce Development and Education Expanding Entrepreneurship IEDC “Innovation Agenda”

  24. What’s next for you? Key Account Management? Website Enhancement? Partnerships with economic development? Rate consultation? Retention friendly policies? Industry support?

  25. What’s next for you? • www.TVAed.com • State & local ED Partners • EDA • IEDC • www.appanet.org BREI Business Retention & Expansion International Annual Conference Wichita, KS June 2-8, 2008 www.brei.org

  26. Thank youQuestions?Amy Bunton (615) 232-6442 abunton@tva.com

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