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My opinion comes from 2 directions... 6 years as a magazine publisher and now 6 years in the net biz. We have never met but I keep tabs and know who does what and for you I would recommend keeping it in house so you can control access to what is going on and who has access to it since it sounds like you have regular work for them. Since you already seem to have a 1-2 year turnover rate I feel a great source of getting cutting edge brilliant people is going after top level college students in your area since most of them need real world work experience via internships as part of their graduation requirements. If you do outsource it, I would only do it with a firm local to your area unless it is someone you have come to know and trust elsewhere.
Good Luck.
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