A promising new business recruitment marketing opportunity discovered just three weeks after adoption of the Clearwater Ridge Economic Development Authority’s annual budget has officially been designated a priority for next year.
“This is exactly the kind of thing we should be doing,” said Executive Director Amanda Collins. “Unfortunately, we should have known that about four months ago.”
The opportunity emerged after staff learned of a highly targeted industry initiative offering direct access to companies in one of Clearwater Ridge’s priority sectors.
The timing was ideal.
The audience was ideal.
The cost was reasonable.
Funding was unavailable.
“We had literally just finished the budget,” Collins said.
Staff initially explored whether money could be shifted from another marketing line item, but most funds had already been assigned to activities approved during the previous year’s planning process.
Those activities include two trade shows, a printed recruitment piece, sponsorship of an industry newsletter and a digital campaign conceived approximately 11 months before launch.
“We try to be strategic,” Collins said.
The new opportunity was presented to the authority’s board, where members responded enthusiastically.
“This is the type of proactive marketing we’ve been asking for,” said Board Chair Robert Hayes.
Hayes then asked whether it could be included in next year’s budget.
Staff confirmed that it could.
The opportunity is expected to remain available for approximately six weeks.
Next year’s budget takes effect in 49 weeks.
“That’s obviously not a perfect overlap,” Collins said.
Economic development officials said the situation highlights one of the challenges of operating in fast-moving markets while working within annual public budgeting processes.
“We’re being told to respond quickly to changing industries, new technologies and emerging opportunities,” Collins said. “But ideally those changes need to occur before February, when we start preparing the budget.”
The authority prides itself on being nimble.
Its current strategic plan uses the word “agile” seven times.
None of the references include a funding mechanism.
Staff have also been encouraged to experiment with new marketing channels, although experiments costing more than $2,500 generally require advance approval.
“We absolutely want people thinking outside the box,” Hayes said. “We just need to know the exact dimensions and estimated cost of the box well in advance.”
The problem is especially difficult with conferences, sponsorships and emerging marketing platforms that may not exist when budgets are developed.
Last year, staff identified a new industry conference that attracted more than 1,500 executives from a target sector. Registration opened two months after Clearwater Ridge finalized its budget.
“We put it on the list for this year,” Collins said.
This year, the conference moved to a different region and doubled its sponsorship cost. “It’s still on the list,” she said.
Officials have considered creating a small discretionary fund specifically for unexpected opportunities.
The proposal has received broad support.
It will be considered during the next budget cycle.
“We want to be prepared when these things come up,” Hayes said.
Staff are already compiling ideas for the upcoming fiscal year, including several new digital campaigns, targeted outreach initiatives and industry partnerships.
Collins said the goal is to anticipate as many opportunities as possible.
“Basically, the best time to have a great marketing idea is 11 months before you actually have it,” she said.
At press time, another promising recruitment opportunity had just arrived by email.
Staff forwarded it to a folder labeled “FY Next.”
