Montgomery, AL

Economic Development Strategy (2006) and Strategy Update (2009)

The Montgomery Area Chamber of Commerce has been a vital component of the community.  It is the “go to” organization for the community’s broad economic development program. Not only does it run the Montgomery Convention and Visitors Bureau, it also runs an incubator and other small business programs and functions as the local economic development arm. The Chamber's leaders knew that they had been successful juggling so many balls, and they were ready to take their efforts to the next level. In beginning their Imagine a Greater Montgomery 5-year strategic planning initiative, the Chamber hired Market Street to guide the process.

 

The economy in the Montgomery area had remained strong in recent years, with the most notable success being the opening of the Hyundai automobile manufacturing plant.  The Chamber sought to build on its positive track record and identify the approaches it needed to continue those successes, capitalize on emerging opportunities, and face current challenges.

 

The process began with an Economic and Demographic Profile, then proceeded to a Competitive Assessment, which provided the research-based analysis necessary to identify the key needs and competitive advantages of the Montgomery area to address and leverage.  Then, the Target Business Analysis identified key economic opportunity areas on which the Montgomery area should focus its economic development programs. 

 

These documents and the findings of a leadership input process provided the information necessary to identify what the community’s priority goals, objectives, and action steps should be.  Market Street worked with a Steering Committee of community leaders to finalize the Economic Development Strategy, and to develop the implementation guidelines necessary to move the Montgomery area forward and reenergize its economic development efforts. 

 

Since 2006, the Montgomery Area Chamber of Commerce has worked diligently on achieving the goals outlined in the Economic Development Strategy, which are to:

·         Champion Public Education and Build a Competitive Workforce,

·         Strengthen the Montgomery Regional Economy,

·         Transform Montgomery’s Image, and

·         Embrace Diversity and Enhance Leadership Capacity.

 

After three years of implementation, the Montgomery Area Chamber of Commerce has hired Market Street to review the progress of strategic efforts, assess the relative attainment levels of performance benchmarks and measures, and reevaluate priority actions for the remaining years of Imagine a Greater Montgomery implementation.