To test and refine our strategy, we prepared a list of about 400 potential investors from major hotel chains, casino developers and theme park builders; major Canadian banks and large U.S. investment houses; an array of venture capital firms; government agencies concerned with tourism and transportation; and project managers who have taken successful tourism projects from start to finish.

So far, we’ve made 75 presentations, and we have learned a lot about what it takes to succeed in this industry. The very good news is that we already have many of the most important things we need. And the other things we need, we can get. In general, our informants told us clearly:

Public-private supportis crucial. Any project needs a strong private sector corporate identity — private businesses ready, willing and able to invest in the community. But there also needs to be strong public sector support. In almost every case we investigated, project success depended on government for planning, promotion, and financing, either directly or indirectly.

Planning is key — in two ways. First, there needs to be a master plan that reflects the commitment by all parties — public and private — to a clear development strategy. Second, there must also be an achievable financial plan for the project. Given solid plans, developments need to be carefully timed so they come together to create a “critical mass” of new attractions.

Finally, continuous positive media coverage is important. It is also important to begin with some kind of significant, innate resource — a waterfront or a major airport — to serve as the anchor for development. If you can start with one of the Seven Wonders of the World, so much the better.

More specifically, our informants told us that:

The organizational means for effective planning and implementation were vital, including public-private partnership mechanisms; creation of a public-private-sponsored master plan; creation of a coordinating committee of key stakeholders; and formation of a facilitation team to expedite approvals and agreements.

Communications— internal and external — were also deemed important. They stressed as key elements of success keeping organizational partners informed about development priorities, promoting investment opportunities to the development community, and putting on a coordinated marketing program.

Investmentpriorities were also stressed, including the identification of infrastructure requirements and responsibilities, ensuring that public recreational amenities are part of each project, establishing government support policies, identifying other funding sources, and providing incentives other than financial ones.

Finally, our informants stressed quality, including the need to set quality standards for project elements, and to coordinate design, signage and programming.

We are ready to move forward with public and private stakeholders on a number of specific projects in the near future. More generally, we see the great potential of Rethinking the Niagara Frontier, particularly in terms of constructing the “comprehensive international tourism experience” that can revitalize our environment and our community as well as our economy.

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