What is most important for regional success?

Attracting a talented workforce, building corporate equity or enhancing a region's natural amenities to attract people for a better quality of life?

Well, we'll find out.

And the answer may not be that simple.

Let's head out to get some answers.

I'm here in Perrysburg, Ohio, at a company named Satellite X that has experienced extreme growth in the last ten years in terms of white collar jobs and revenue.

So I'm here with the CEO and President Shaun Donovan to talk more about how that's been happening.

So I'm great to be with you today, Kristi.

Sean: Great to see you again and welcome to Satelytics.

Kristi: Thank you.

It is a pleasure to be here.

Sean: Thank you.

Kristi: Sean, why does the company exist?

What's your mission statement?

Tell us a little more about satellite X. Sean: So satelytics is a primarily a software company, but it develops some very unique world breaking algorithms that detect some of the most challenging problems of our customers have.

So, for example, one of the algorithms that we're very known for is detecting methane.

Not only do we detect the methane with a very high degree of accuracy and where it's located as as greenhouse gases expel into the air, but we also measure both the gas plume and the flow rate.

No one else in the world does that.

And that's down to, as you asked why.

I mean, you look at the brilliance around this organization and we've got a bunch of young people that bring such tremendous talent and disruptive technology that we can't help but succeed.

So that's really the secret sauce to sad lyrics.

Kristi: Why is it important to grow white collar jobs in a region?

Sean: Well, specifically, Kristi, I'd say more than white collar jobs.

I'd say in the tertiary industry, the services industry in particular.

In my experience looking at the Midwest and I've been in the Midwest for a number of years, it's one of those areas that's often overlooked because of the East and the West Coast get so much attention.

But there's brilliance in the Midwest and growth of a region is extraordinary.

You want a young family to cement and put their roots in the area.

So you want graduates to come out of university, be innovative, work for innovative firms like Satellite X, so that that group stay, have families and their children stay.

So it builds the tax base, it builds a stronger community.

You've got more services that would go around with that because obviously a bigger population attracts.

I mean, Columbus is a very good example.

It's often referred to as a test market around the world or around the country, and that attracts new elements, new services, new restaurants, new fashion.

So all of those things keep those young families growing, good schools.

Kristi: Are there things that you say, hmm, companies really need regions really need to look at these five items to make the region more attractive, to bring in those people, those families you're referring to, to keep students staying in that region.

Sean: So I was at a meeting recently where people were talking about new buildings they were building to attract companies from outside of Ohio into Ohio, as an example.

And, you know, you often hear about Amazon bidding, various states as to where they're going to put their next facility and the price that these states are willing to pay in incentives, tax abatements.

I often, you know, we have an English expression about catching the mice and missing the elephants.

And I said at this particular gathering, I think we are catching the mice and missing elephants.

Why aren't we worried about youngsters that are coming out with degrees and masters?

Why are we letting them migrate to other cities and states around the country?

Why aren't we making capital innovation tertiary industries?

Because industries like Seattle, it it doesn't take a lot to get going.

You don't need huge infrastructure.

You're not building a processing plant.

What you're building is taking somebody's brainpower and turning it into gold.

Kristi: So for you, it's analytics.

What kinds of partnership are you looking for?

You mentioned universities.

Are there other partnerships that, as you said, Okay, I'm looking at Perrysburg, Ohio.

This is truly what I'm looking at and what I need for this company to not only succeed but thrive in this particular area.

Sean: So you for us, the challen and the set of skills that we need, whether it's software infrastructure, whether it's scientists, data analysts, all of those skill sets are available in the local area.

What you need are the universities to say, how do we promote and stimulate and how do I connect with those local businesses that will grow, that services industry.

Kristi: And that strategy, if you will, that you just defined is a win win win.

So you have said Olympics getting its employees, you have the student with a job, the university being able to place their students in fabulous companies.

So all of those things really are a recipe for success and for building a region.

Sean: Yeah, for Perrysburg, too.

The more we increase our tax base, the more local taxes that they gather, the bigger our footprint, the more and more profitable you are, the better off the Exchequer is for gathering taxes that we pay.

So, I mean, Seattle Alex is a highly profitable company.

So, you know, we write checks based, we pay taxes based on profits.

I mean, that's good because it means we can stimulate better, better, better benefits for our employees.

We can do some innovative things.

And of course, we're adding to the region.

Kristi: What's more important for a region to attract companies, to attract a workforce is one more important in your mind than another?

Sean: Well, I'm biased because I think the what the price you pay to attract a big name company I think is way too much.

I've only ever had small companies.

My career started with small software companies.

I would say it's the people.

Don't let the people leave and attract people from the outside.

We've got individuals in our company that walk to work.

They literally live next door in some fabulous condominiums and they walk to work.

Their dollar goes a lot further in Perrysburg, Ohio, than it would in some of the other major cities.

So those I think our considerations, the work itself, of course, has to push the boundaries of their brain and push their subject matter expertise.

I think that's very important.

I would be firmly on the side of people above companies.

Kristi: So Sean, when you're in business, Life360, we do something called Quick Hits where I ask you a question, you respond quickly and our viewers get to know you a little bit.

Sean: That over that quick, though.

Kristi: Well, we'll do our best.

So you ready for this?

Sean: Yes, I am.

Kristi: Your birth city, Southampton.

What did you have for breakfast this morning?

Sean: Well, I normally start off with steak and eggs.

Then I have creme brulee and then and that's in my dreams.

A drink of water.

That was it.

Kristi: That's it.

Sean: That's it.

Kristi: Okay.

Sean: Pretty boring.

Kristi: Favorite sports.

Sean: Favorite sports.

Yes.

I would like to say so.

All the Americans will agree with me.

American football and basketball.

But that's not true.

There is only one game and that's football.

You call it football, soccer, whatever it is.

Kristi: What is the current music in your car right now?

Oh.

Sean: Duran Duran.

Kristi: Nice one.

Shaun Donovan.

You're an excellent example of what it takes to grow a region.

And congratulations to you on the growth of Satellite X and thanks for joining us.

Sean: Thank you.

And you're welcome.