The Little Rock Regional Chamber embarked on a six-month economic development strategic planning process—named MetRock 2020—as it relies on the collective thoughts and visions of countless stakeholders in Little Rock, North Little Rock, and Pulaski County, collectively referred to as the MetRock Region.
Boyette was engaged by the Chamber team to conduct a thorough analysis and develop the high-level strategic plan, with the following goals in mind:
- Explore the region’s strengths and opportunities among specific economic development indicators.
- Develop an actionable economic development strategic plan as a result of extensive primary and secondary research, as well as stakeholder engagement.
- Conduct a competitive assessment and benchmark research to understand the broadest opportunities for growing the MetRock Region, positioning the region above competing, similar regions.
Boyette Strategic Advisors is based out of Little Rock, so the success of this project had backyard implications. Using the following process, one positioned through the distinctive lens of particular economic development indicators, Boyette developed the MetRock 2020 Plan which included:
- Data analytics, such as research related to demographic and socioeconomic data, labor force characteristics, educational institutions, healthcare services, entrepreneurial/ innovation environments, cultural assets, and other areas.
- Consideration of the opinions, stories, thoughts and suggestions expressed by stakeholders during the collaborative workshops, group discussions, one-on-one interviews and online surveys.
- An in-depth analysis of appropriate benchmark communities to explore what factors—besides data sets—has led to that community’s overall economic success. This research will be used to determine recommendations for the region’s future economic development efforts.
At the conclusion of the researching phase, Boyette created six strategic focuses and developed recommendations and action items that reveal the methods for implementation and ultimately lead to increased success in the MetRock Region.