Need for speed: Leveraging the project management playbook to bring home wins
The Cincinnati regional economy is expanding fast. Across our 16 counties, an influx of wide-ranging developments is resulting in consistent rankings among top U.S. metros, like Houston and NYC, for ability to attract and win projects—and there’s more opportunity on the horizon.
REDI Cincinnati spent the last five years developing one of the strongest project management playbooks in economic development today, working projects of every size and scope, from the massive, $1.5 billion Amazon hub at Greater Cincinnati Northern Kentucky International Airport (CVG), to a sixth strategic expansion for family-owned Magna Machines that is bringing critical jobs to the Forest Park community.
Using proven methods and innovative tools, we emphasize speed and teamwork to bring game-changing economic wins across the finish line.
Phase 1: We kick off the project management process by engaging in direct conversations with local companies or those referred to us through our network of consultants, consulates, and other business connections. We rely heavily on business acumen in this due diligence and vetting phase to establish a relationship with the company and multipliers and ensure they have access to the right resources and subject matter experts on our team from the beginning.
Phase 2: Next, we leverage our network and economic development tools across the 16-county MSA, working in concert to uncover incentives, sites, talent, and other resources. We then pitch the project for support from the appropriate state- and local-level entities, all the while maintaining close contact as the company’s needs, questions, and vision evolve.
Phase 3: Once we’ve formulated a strategy to address pain points and obstacles to success, we present the company with an offer and begin the process of negotiating and gathering any additional necessary information to move closer to an agreement.
Phase 4: The project management process doesn’t end once we’ve secured a company’s commitment to locate or expand in the Cincinnati region. At this point, we transition the opportunity into our business retention and expansion program, where we continually engage and serve companies in our local ecosystem to ensure a winning strategy for years to come.
While it’s true that economic development organizations all over the world use this general process to manage projects, REDI Cincinnati is unique in our team’s subject matter expertise, business acumen, private sector experience, and ability to flexibly work around programming at multiple levels across state borders. Our region’s signature ability to collaborate at the speed of business continues to be the force that will change our economic landscape for the better.