Businesses launch plans for an upward growth curve

By Rosanne Fohn

Anvil Herald Reporter

Three well-established Hondo businesses have completed a milestone in a year-long pilot program aimed at helping them grow their businesses to the next level. 

As reported in the Hondo Anvil Herald  in May, the Hondo Economic Development Corporation (HEDC) voted in April to invest $4,750 for each business into a program called “economic gardening.” 

The term refers to an economic development program that provides strategic research and analytical frameworks for ‘Stage 2 growth companies,’” explained HEDC Executive Director Sean Patty. 

“Stage 2 growth companies are those with 10 to 100 employees and $1 million to $50 million in annual revenue. These companies are ready for expansion but need targeted data and marketing intelligence to scale up,” he said.

“The economic gardening name comes from the idea that instead of economic developers going out and recruiting new companies (economic hunting), they can stay at home and grow local companies (economic gardening),” Patty added.

Through the HEDC’s agreement with the National Center for Economic Gardening (NCEG), each company receives 40 hours of customized market research and frameworks for thinking about root problems that are preventing growth.

The HEDC serves as the liaison between the businesses and the NCEG, overseeing the process and tracking performance metrics, such as job creation and revenue growth through pre- and post-project evaluations.

Hondo Aerospace, Hondo Railway and Medina Agricultural Products have consulted with the NCEG team and received their marketing information. They now have about a year to implement the new data and guidance they have received. 

“We recently completed (the) research and growth program,” explained Andrew Franke, CEO of Medina Agricultural Products. 

“They delivered invaluable, actionable information that is already helping us grow Medina Agriculture Products. This included identifying new customers, showing us how to connect with influencers and the right marketing channels, and pinpointing additional target accounts.” 

“The information gathered and presented was top of the line,” said David Boss, vice president of operations at Hondo Aerospace.  “Being a smaller company, it gives us an edge in competing against much larger companies.”

Miles Lee, executive vice president of Hondo Railway and Pinsly Logistics Services, added, “The Economic Gardening program provided an immense amount of value to our company. The team of specialists quickly gained a thorough understanding of our business model and were able to provide relevant actionable information tailored to our specific needs. Their expertise and insights have given us valuable tools and direction as we move forward with our plans to grow and strengthen the company.”  

The HEDC will conduct a post-program survey later to evaluate its success.