Regional EDOs should use these questions as an informal self-assessment in considering how to determine your region’s international engagement readiness, capability, and commitment.
Overall Goals and Readiness
- How does an international engagement strategy fit into or advance our overall economic development goals?
- How does this international focus complement our current economic development strategies and/or existing CEDS plan?
- Do we currently have a business retention and expansion program that is sufficiently robust to provide good awareness of current companies’ strengths and capabilities? How well do we know our current companies that would most engage in this work?
Organizational Capability and Capacity
- Do we have the capacity and commitment to invest what it takes to develop and implement a meaningful international engagement strategy for our region?
- Do we have capacity internally or through partners (e.g., universities) to do the research that must inform the planning process and subsequent strategy?
- Do we have the budget to do a thorough regional assessment and develop a plan? Do we have the right staff and are we organized effectively internally and with partners to get the work done?
- Has any organization at the local or state level already identified the foreign investors and exporters in our region?
- Is there an existing Business Retention and Expansion (BRE) program which can incorporate international engagement into its activities?
- Do we have support from business and community leaders and local elected officials to make this successful?
- What is the status of working relationships and collaboration with others in the ecosystem to support this effort? Do we have the critical mass necessary to succeed?
- What resources does the state offer to support our effort?