In the high-stakes game of economic development, your region’s strategic advantages are your ace in the hole. But are you playing this card effectively on your EDO website? Let’s dive into why strategic advantages matter and how to showcase them in a way that makes businesses sit up and take notice.
The Power of Strategic Location
First, let’s talk numbers. A 2022 KPMG study dropped a bombshell: 60% of companies consider a site’s strategic location as a critical factor in their decision-making process. That’s not just important; it’s game-changing.
But what does “strategic location” really mean? It’s not just about being in the right place on a map. It’s about access to markets, resources, talent, and infrastructure. It’s about positioning a business for success from day one.
So, how do you translate your region’s strategic advantages into a compelling narrative on your website? Let’s break it down.
Mapping Your Advantages: A Visual Journey
They say a picture is worth a thousand words. In economic development, a map can be worth millions in investment. Interactive maps are your secret weapon here. Create a dynamic, layered map that showcases:
- Proximity to major markets (with population data)
- Transportation networks (highways, railways, ports, airports)
- Supply chain partners and potential customers
- Key industry clusters
Pro Tip: Use color-coding and toggleable layers to let users customize their view based on their interests.
Example: The Port of Rotterdam’s website features an interactive map that showcases not just the port’s layout, but also its connections to European markets, making its strategic advantage clear at a glance.
Incentives: Making the Deal Sweeter
Tax breaks, grants, and other incentives can tip the scales in your favor. But here’s the catch: if businesses can’t find or understand this information easily, it might as well not exist.
Take a page from the Michigan Economic Development Corporation’s playbook. They offer a clear, comprehensive breakdown of available incentives, searchable by industry and business need. Consider creating:
- An interactive incentive calculator
- Case studies showing how businesses have benefited from your incentives
- A comparison chart with neighboring regions (if you’re confident in your offering)
Remember, transparency is key. The easier you make it for businesses to understand what’s on offer, the more likely they are to engage with you.
Unique Resources: Your Region’s Special Sauce
Every region has something that sets it apart. Maybe it’s a world-class research university, abundant natural resources, or a specialized workforce. Whatever it is, it needs to be front and center on your website. Some ideas to highlight:
- Research facilities and their areas of expertise
- Natural resources and sustainable practices
- Unique infrastructure (e.g., specialized ports, tech parks)
- Industry-specific training programs
Example: Research Triangle Park in North Carolina does an excellent job of showcasing its concentration of research institutions and how they fuel innovation across multiple industries.
The “Why Choose Us” Page: Your Elevator Pitch
Imagine you have 30 seconds to convince a CEO why your region is the perfect fit for their business. That’s essentially what your “Why Choose Us” page should do. This page should be:
- Concise yet comprehensive
- Visually appealing (think infographics and bullet points)
- Easily scannable for busy executives
- Backed by data and testimonials
Include a summary of:
- Strategic location benefits
- Key industry clusters
- Workforce highlights
- Quality of life factors
- Top incentives
Pro Tip: Consider creating industry-specific “Why Choose Us” pages for your key sectors.
Comparative Advantage: Standing Out from the Crowd
Businesses aren’t just looking at your region in isolation; they’re comparing you to other potential locations. Help them out by providing some context. Create comparison tools or infographics that show:
- Cost of doing business compared to major metros
- Workforce productivity metrics
- Quality of life indices
- Regulatory environment rankings
Be honest and focus on your strengths. If you’re not the cheapest location, emphasize your value proposition in other areas.
Future-Proofing: Showcasing Long-Term Vision
Strategic advantages aren’t just about the here and now; they’re about where your region is heading. Use your website to highlight:
- Infrastructure improvement plans
- Upcoming major developments
- Long-term economic strategies
- Sustainability initiatives
This shows businesses that you’re not just a good choice now but a smart investment for the future.
The Power of Storytelling: Bringing Advantages to Life
Numbers and maps are crucial, but don’t underestimate the power of a good story. Use case studies and testimonials to illustrate how businesses have leveraged your strategic advantages for success.
Consider creating:
- Video testimonials from business leaders
- Written case studies with tangible results
- A blog series featuring “Success in Our Region” stories
Making it Interactive: Engage to Educate
Static information has its place, but interactive elements can really drive home your strategic advantages. Consider adding:
- A site selection tool that matches business needs with regional assets
- Virtual reality tours of key sites and facilities
- A chatbot to guide visitors to relevant information quickly
Continuous Updates: Keeping Your Edge Sharp
Your strategic advantages aren’t static, and neither should your website be. Regularly update your content to reflect:
- New infrastructure developments
- Changes in incentive programs
- Fresh data and statistics
- Emerging industry trends
The Bottom Line: Your Competitive Edge, Sharpened
Your region’s strategic advantages are more than just selling points; they’re the foundation of your value proposition to businesses. Your EDO website is the platform where these advantages can shine, turning casual browsers into serious prospects.
Remember, your website is often the first (and sometimes only) chance you get to make your case to potential investors. By effectively showcasing your strategic advantages, you’re not just listing features – you’re painting a picture of success, opportunity, and growth.
So, take a critical look at your EDO website. Are your strategic advantages front and center? Are they presented in a way that’s clear, compelling, and actionable? If not, it’s time for a revamp. Because in the competitive world of economic development, your strategic advantages aren’t just nice to have – they’re your secret weapon for winning the game.
