GRAND RAPIDS, Mich. (WOOD) – The Right Place, Inc. released Wednesday its newest strategic plan, which will set the organization’s direction for 2014, 2015 and 2016.
The goal of West Michigan’s economic development agency is to generate 5,500 new jobs, $390 million in capital investment and $183 million in payroll, according to a news release.
The announcement comes on the heels of the organization’s most recent five-year plan that exceeded expectations by generating 11,000 new jobs and $749 million in capital investment during the past five years in West Michigan.
Birgit Klohs, president and CEO of The Right Place, Inc., and Christopher O’Brien, principal of PwC Diamond Advisory Services, made the announcement to investors and board members at the J.W. Marriott in downtown Grand Rapids.
Klohs and O’Brien facilitated the development of the new strategic planning process along with the Right Place board of directors and strategic planning committee.
The Right Place 2014-2016 strategic plan is based on global market research and extensive interviews with business and community leaders in West Michigan.
“The resulting plan identifies a system of economic progress and focuses The Right Place’s efforts on both improving the region’s economic underpinnings and spurring growth in several strategic areas,” Klohs said in a news release. “This next strategic plan intends to build on that legacy of success.”
Although the plan covers three years, the initiatives and focus areas concentrate on long-term economic impact, not short-term tactics.
The five primary “strategic growth areas” that The Right Place will focus on during the next three years:
- Smart manufacturing
- Agribusiness and food processing
- Life sciences and biotech
- Technology and communications
- Commercial design
The Right Place will focus on four foundational areas during the next three years:
- Business support systems
- Work-ready talent
- Quality of life
During the next three years, The Right Place will continue to advance the West Michigan economy by retaining and attracting premier companies, jobs and investment to the region.