Measuring EconDev Impact and Storytelling Best Practices

Measuring EconDev Impact and Storytelling Best Practices

On May 8, in celebration of Economic Development Week, IEDC hosted a webinar entitled, "Measuring EconDev Impact and Storytelling Best Practices” in which the head of a Texas EDO and a master storyteller delivered a tutorial on how to shape your ED messaging for funding opportunities. 

Tonya Britton, President of the Giddings EDC (TX) and Lori Jacobwith, founder of Ignited Fundraising presented. Alllison Larsen, CEcD, Founder & Empowerment Superhero of TadZo LLC served as moderator.  

Ms. Britton detailed an economic development success story of a client her EDC assisted. The client is a medical provider who, for years, rented space in a municipal building. After several years in the building, the County informed her that they would end renting the space, as they needed it for their own operations. 

The client decided she wanted to purchase space, but it was very expensive in the area close to her customers. They approached the Giddings EDC to address three challenges: Find affordable property quickly; find additional funds to assist with renovations; find ways to increase her cash flow. 

Ms. Britton detailed some of the creative tactics the Giddings EDC used to assist the client in locating and financing space, including engaging a client that was looking to sell some of its properties. 

Communication, Communication, Communication

Ms. Jacobwith then engaged Ms. Britton on this case study, and worked - to the benefit of the webinar audience - to illustrate methods to craft this story in a way that could be useful to attract funding. Major points included:

  • The major key to success for any organization is Communication. Always Be Communicating.
  • EDOs jobs are often about bridging the gap between the complex and the simple. Economic development professionals are often dealing with complicated issues that take a long time to resolve. It’s important to learn how to shape these stories in a way that’s easily relayed to stakeholders and potential funders. 
  • A key tactic to do this is to put a face on the story. Facts and figures support the story, but economic development professionals can be most successful on focusing on the people who are a part of the story. “Economic developers, when telling their stories, must engage both the head and the heart,” says Jacobwith.