Case Studies
Greater Paducah Economic Development Council
“The Boyette Strategic Advisors team gets it. I have had the pleasure of working with the BSA team on two occasions and what impresses me the most about them is the wide array of talent they bring to a project. Members of their team bring unique attributes to the table which combined make a truly dynamic group. It is without hesitation I wholeheartedly recommend the BSA team for economic development strategy projects.”
BSA recently completed an Economic Development Strategic Blueprint for Paducah/McCracken County focused on enhancing current efforts to attract jobs and promote the area as a business location. The preparation of the blueprint involved the development of a Community Assessment, which in addition to in-depth research, included interviews/group discussions with company and economic development representatives and other community leaders; surveys of area residents, major employers, and site location consultants; a shared regional visioning meeting with Greater Paducah Economic Development Council Board members; a tour of Paducah/McCracken County and review of other recent key information and reports.
Based on the results of the Community Assessment, a cluster analysis, review of the existing business/industry base, research on emerging sectors both nationally and in the Paducah/McCracken County area; and a review of support programs in Kentucky and in Paducah/McCracken County for each potential sector, BSA identified five primary targeted business sectors for Paducah/McCracken County to focus its efforts over the next five years and one additional secondary target. Targeted business sector profiles were prepared for each identified sector. In addition, strategic recommendations were developed to advance the growth and development of each identified targeted business sector and of Paducah/McCracken County in general.
An implementation/action plan was also developed to provide a roadmap for achieving the recommendations outlined in the strategy. Performance metrics were established to measure the effectiveness of Blueprint recommendations.
In conjunction with development of the Blueprint, BSA simultaneously conducted a Workforce Analysis designed to gain a clearer understanding of the quality and quantity of the area’s workforce. The study addressed the following key issues:
- What is the true labor draw area for the region?
- What are the key demographic and skill assets and liabilities of the current workforce relative to today’s business needs?
- What are the key demographic and skill assets of the current workforce relative to future business needs?
- What are the strengths and shortcomings of the regional education and training institutions relative to supplying an ongoing pipeline of talent sufficient to satisfy employers’ needs?