With nicknames like Lock City, Research City and The City that Works in Stamford”™s past, the city is trying to determine what”™s next.
Thomas Madden, Stamford”™s economic development director, said the city Office of Economic Development is working on a multiphase plan to make Stamford more attractive to businesses in a nationally competitive market. Initiatives include conducting research on Stamford”™s economic landscape, outreach, rebranding and improving digital resources.
“It puts us on par with a lot of the economic development corporations to make sure we have the right information out there to make businesses look at Stamford,” Madden said.
- Thomas Madden, economic development director for the city of Stamford and former Greenburgh development commissioner. File photo
Planning began about a year ago and the office has been gathering data about the city”™s industrial sectors since January, Madden said. He said this type of project has not been done before in Stamford.
The nonprofit Stamford Partnership, a civic organization, is leading the push and Stamford-based brand development company Daymon Worldwide is handling the marketing.
Daymon will conduct surveys and focus groups in Stamford and in the tristate area later this year about people”™s views on Stamford. The data will guide which industries Stamford should focus on and how to change zoning laws to prepare for companies to come to the city.
The Office of Economic Development will also use the information about income level, incentives, taxes and transportation in brochures to distribute to businesses considering Stamford as a location.
The results, which Madden hopes are in by the fall, will shape how Stamford will rebrand and market itself going forward. As part of the rebranding, Stamford will get a new logo and a marketing campaign. Madden said he could not yet disclose the budget.
“Now we”™re looking at what”™s the next revolution in terms of Stamford itself that in terms of marketing says, ”˜This is where we”™re going and this is where we want to be,”™” Madden said.
Stamford has nearly 16,000 businesses and, during the day, 250,000 people, Madden said. His team is dedicated to ensuring the success of small and midsize businesses, which have lately accounted for more growth than some corporations, such as UBS and RBS, which recently had layoffs. Madden said Stamford aims to have a diverse economy and is looking into the financial, reinsurance, digital media and biotechnology sectors.
Joseph McGee, vice president of public policy and programs at The Business Council of Fairfield County, said Stamford had a good 15- to 20-year run in financial services but that sector is not growing like it used to. The city has constantly reinvented itself, which he said is a good thing.
“Now we need to look at other economic engines, what other industries can really grow,” McGee said, adding there is some growth in entertainment, data processing, data mining and analytics.
“How much of that can we capture?” McGee said. “What other things are out there? I think having a project where you begin to consciously say, ”˜Let”™s look at what”™s out there and what should we be preparing for”™ ”“ that”™s a really smart move.”
Stamford is not alone in rebranding itself. In November, Bridgeport launched a marketing campaign to boost confidence in the city that consisted of TV, radio and digital ads and an accompanying website, brigeportbettereveryday.com.
“A marketing campaign for the city is a very good investment,” McGee said of Stamford. “You have to promote yourself. We live in a very competitive environment.”
Some towns in Westchester County, Stamford”™s competitors for business, are also trying to increase their public profile among businesses and millennials. Last year, Yonkers launched a $350,000 marketing campaign targeting metro area businesses and millennials that included ads and a website, generationyonkers.com.
New Rochelle hired a branding firm last year to survey residents about the strengths and weaknesses of the city to spur economic growth through marketing. New Rochelle spokeswoman Kathy Gilwit said the data are being used to create a brand identity the city plans to reveal in the fall. The city”™s master developer, RDRXR, is working with the community to crowdsource ideas for the downtown.
Madden, who worked in Greenburgh for 10 years in the Department of Community Development and Conservation, said Connecticut is more business-friendly and moves projects along faster than Westchester. He said Stamford took a high-growth model for development in the early 2000s and is focused on developing its workforce.
Madden said that compared to Westchester, Connecticut is building more housing, which attracts and retains a younger workforce that companies want to hire. About 7,600 Stamford apartments have been built recently, are under construction or are slated for construction, which are aimed at keeping and attracting young professionals, he said. McGee said Stamford has about 15,000 millennials, who companies like to hire.
Madden said Connecticut also has lower tax rates and more incentives than New York.
“When you actually start to look at the numbers, it makes a really compelling case why you should be locating your business in Connecticut and expanding in Fairfield County,” Madden said.
Stamford”™s development office also is working on catering to growing digital needs. A cloud-based Discover Stamford application will provide city information like a historic walking tour guide, tourist locations and train times and tracks is underway.
Jackie Lightfield, executive director of the Stamford Partnership, said the back-end work is complete and the app is in its testing phase. The app could be available by the end of August and the city will pilot three informational kiosks in the fall.
“We”™re very much aware that the way information is found is on digital devices,” Lightfield said. “We want to move information out of City Hall and into the hands of people.”
The city is also developing StamfordBusinessPortal.org, an online portal for information that is currently scattered. Madden called it a “giant checklist” for small and midsize businesses to help them start, manage and grow. It will feature information on city, state and federal procedures as well as capital, financing, hiring and state incentives; links to other resources; and an interactive map listing properties with their zoning rules and demographic and traffic data to help businesses choose a location.
“It”™s showing businesses that we”™re really serious about them coming here and we have a really business-friendly environment,” Madden said.
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