KAEDC unveils target markety study, new logo
A strategic plan and target market study for the Katy area was presented by Tom Stellman of TIP Strategies Tuesday morning at the general assembly meeting for the Katy Area Economic Development Council.
The new KAEDC logo and tagline was also featured at the meeting to coincide with the new development plans.
Tom Stellman is President and CEO of TIP Strategies, an economic development consulting firm based in Austin, Texas.
He was hired by the KAEDC to develop a multi-year strategic plan as vision for economic goals, strategies and actions for the Katy area.
“We talked to a lot of people and employers over 11 months to conduct research and do interviews for the Katy area in order to develop these strategic plans, which we call Katy Area 2010,” Stellman said.
Along with this strategic plan and target market study, a new vision, mission statement and guiding principles were created.
“These principles are based on three major goals, talent, industry and place,” Stellman said.
To begin his presentation, Stellman talked about one big concern for the future, approaching labor shortages. “As baby boomers begin to approach retirement, we are facing a gap in job positioning,” Stellman said. “Employers are competing for young, bright talent in a global economy and young people are being offered good jobs in India and China.”
He used BP as an example. When I asked BP what their greatest challenge is, they told me it is to recruit top talent,” Stellman said.
Stellman suggested grooming young talent for top positions in corporations as baby boomers face retirement to help smooth the transition.
As for strategic plans in Katy, the first goal of the plan is to develop, retain and attract talent.
This can be done by expanding higher education and strengthening area leadership bases through raising awareness for economic development and sales training.
To target the industry goal, the needs are to diversify the tax base through industry attraction and business development.
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Source:
http://www.katytimes.com
