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03/14/2002 - Terabyte Trianagle Business Plan

THE TERABYTE TRIANGLE
DRAFT
2002 BUSINESS PLAN

Spokane, Washington

“Downtown Entrepreneurs
Powered by High Bandwidth”

PRESENTED TO THE
TERABYTE TRIANGLE COMMITTEE
MARCH 2002


I. INTRODUCTION

The presence of high-tech businesses in our region is key to a thriving economy. The Terabyte Triangle is an exciting initiative that is part of a larger regional effort to attract high paying, high tech jobs and investment to our community. In the same way that railroads and ports opened the door for the growth of new types of commerce in communities of the past, today the Terabyte Triangle can serve as a catalyst for accelerating business growth and economic development in Spokane.

The idea of the Terabyte Triangle is to create a specialized zone in downtown Spokane where businesses have access to cost-effective, high-speed connectivity. Providing this infrastructure helps to foster high-tech business clusters that take advantage of local resources, including each other. Entrepreneurs and technology companies will be attracted to Downtown Spokane for its high degree of technological connectivity combined with the lower cost of doing business and high quality of Downtown amenities.

In collaboration with its partners and members, the Terabyte Triangle Committee (TTC) actively pursues three strategic initiatives to advance the Terabyte Triangle as an economic development tool for Spokane. These three strategic initiatives are:

§ A Technology Enhancement strategy to inventory and promote the development of technological connectivity in Downtown Spokane by expanding the size and capacity of the Local Area Network (LAN), Metropolitan Area Network (MAN), Wide Area Network (WAN).

§ A Facilitation strategy to engage, educate, and encourage the implementation of the Terabyte Triangle concept to the local property owner; real estate, business and high-tech companies; as well as the educational and government community. The Terabyte Triangle’s power will be used as a marketing tool to accelerate the leasing of Class A, B or C space within Downtown Spokane. This strategy encourages existing and new office buildings to include the necessary technology investment to provide for Plug and Go office space throughout Downtown buildings.

§ A Marketing strategy to encourage new home office entrepreneurs, startup businesses, and existing companies to locate Downtown to take advantage of the combination of high-speed technology within an exciting urban environment that offers an opportunity for social and creative interaction, competitive lease rates, and a unique historic urban character within a region that boasts a relatively low cost of living and a high quality of life.

The Terabyte Triangle is:
1. A geographic area - Downtown.
2. An area of enhanced connectivity and high tech culture.
3. An economic development initiative.

The implementation of these initiatives is the responsibility of Downtown Spokane Ventures Association (hereby referred to as the Ventures), which is a sister corporation to the Downtown Spokane Partnership. Ventures, EDC and the Chamber, along with other partners in the high tech industry have provided funding to continue the implementation of the Terabyte Triangle marketing message. In 2001, Ventures will continue to work with the Terabyte Triangle Committee, local development agencies and technology industry to implement a robust and aggressive marketing strategy.

II. THE TERABYTE TRIANGLE’S DIRECTION
VISION
The members of the Terabyte Triangle Committee (hereby referred to as the TTC) envision a thriving, diverse and exciting downtown filled with new entrepreneurs and companies utilizing high-speed data connectivity technologies and applications.

MISSION
The TTC is dedicated to establishing Downtown Spokane as a national center for software, multi-media and Internet commerce companies through the use of high-speed connectivity technologies and applications.

III. 2002 STRATEGIES AND ACTIONS
STRATEGIES
The Terabyte Triangle Committee (TTC) actively pursues three current strategies with its partners and the community to grow and attract new businesses to the Terabyte Triangle. These strategies are:

§ To continue to develop the connectivity of Downtown Spokane and to the world.
§ To engage, educate, and communicate the Terabyte Triangle message.
§ To retain, expand and recruit businesses into the Terabyte Triangle.

These strategies are the basis from which the action items below have been developed.

IMPLEMENTATION

The TTC, through Ventures and its partners, will concentrate its efforts on three priority actions in 2002. These actions are the logical next steps in the implementation of longer-range actions to secure our overall mission.

Priority Action #1: Improve and Maintain a High-Impact Web Site
§ Provide accurate and timely news and information including connectivity options and capacity, building inventory, quality of life, services and contact for more information form.

§ Generate 1,000 hits per week on the web site by June 2002 and 2,000 hits per week by December 2002.

§ Complete 100 percent follow-up to all leads generated by the web site.

§ Conduct detailed discussions with a minimum of fifteen potential Terabyte Triangle companies and locate five new companies into the Triangle by December 31, 2001.


Priority Action #2: Reach Out To Facilitate Awareness of the Terabyte Triangle and to Improve Communication

§ Celebrate the 5th anniversary of the Terabyte Triangle in conjunction with Launch Pad and Show Work and the Business and Technology Expo in October.

§ Contract with Billie Moreland for 12 months to write stories about the Terabyte Triangle for local, regional and national publication and distribution throughout 2002 and administer the web site.

§ Convince the Spokesman Review to have a “Tech” business page once a week covering local high tech businesses and entrepreneurs and to also encourage the Inlander and Local Planet to cover local tech stories.

§ Identify and coordinate with other local high-tech organizations such as Technet, Launch Pad, INTEC and the Spokane Valley High Tech Council and form working partnerships to advance the Terabyte Triangle.

§ Open and maintain dialogue to advance complimentary agendas to attract new high-tech investment to the region especially with the EDC and INTEC.

Priority Action #3: Develop a Revenue Center
§ Identify sources of revenue to further the mission of the Terabyte Triangle including membership dues, grant and aid, web site advertising.

§ Begin to earn revenue from the web site by selling space to seven building owners, three connectivity providers and five tech companies by the end of the second quarter.

§ Generate $8,820 in positive net annual cash flow from web site revenue by December 31, 2002.

§ Investigate ‘privatizing’ the web site.


Priority Action #4: Enhance Technology in the Terabyte triangle

§ Participate with INTEC and Technet in the development of a Regional Tech Strategic Action Plan by the end of the third quarter of 2002.

§ Support the creation of a Giga Pop presence for the Spokane region located in the Terabyte Triangle.

§ Support the creation of a digital university for the region.



 
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