Agenda

Presentation

Specific questions

Other Questions

Ground Rules:

1. So that everyone has a chance to speak, only answer each question one

time and limit the length of your answer.

2. Allow me to present and hold the questions to the end so that we respect

each other’s time.

3. The goal is to gain a deeper understanding of the subject matter through

your active participation.

4. Be respectful of other people’s opinions.

5. Respect each other and any time limitations that we may face.

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City of RaleighEconomic Development[ ]

Economic Development

Cities pursue growth to survive Healthy Tax Base - Rising land values - Business Prosperity

- Good Business Climate

Underlying Assumption: - Private Investment is the Key to Economic Development- Pubic Investment is often a catalyst to give confidence to private investors.

> Retention > Expansion > Attraction > Entrepreneurial support

Economic Development Partnership

Economic Development

[ ]

How we arrived at this destination :Mitchel Silver, Chief Planning and Development Officer drafted an MOU that was adopted in 2011. That MOU summarized the responsibilities of economic development on behalf of the City and who held what responsibility. That MOU also lead to the creation of the Office of Economic Development.

Economic Development in the Comprehensive Plan

Economic Development

1. Commercial Corridor Reinvestment

2. Neighborhood Reinvestment

3. Entrepreneurs and Business Development

4. Economic Development Through the Arts

5. Workforce Training and Access to Employment

6. Economic Development and Land Use

7. Creative Industries

8. Downtown Raleigh

9. Regional and Inter-Jurisdictional Coordination

[ ]

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

Economic DevelopmentPotential future activities

[ ]

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ Economic DevelopmentPotential future activities

]

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ Economic DevelopmentPotential future activities

]

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ Economic DevelopmentPotential future activities

]

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

1. Capitalize a fund to acquire and assemble property (aside from redevelopment areas)2. Centralize management of Request for Proposals3. Pre entitle property‐4. Dispose or swap land5. Strategically use Capital Improvement Funds to leverage private investment6. Package prime development sites with properties in distressed areas7. Target areas near future transit stops and corridors8. Develop a business incentives program9. Explore the use of incentives such as TIF and Special Assessment Districts

Economic Development

[ ]Economic DevelopmentPotential future activities

Economic Development

Potential Outcomes

aximizing of resources and outcomes to benefit commercial districts,

neighborhoods and the City at large.

Capturing the entrepreneur spirit and dreams, welcoming new businesses to our

community (local and corporate), nurturing our neighborhoods and neighborhood

commercial areas and investing in key areas, both in projects and public

infrastructure, to strategically encourage further development.

[ ]M

Economic Development

Economic Development

West Raleigh

US 70 Glenwood Ave.

Six Forks

Falls of Neuse

US 1/Capital Blvd

Downtown

Cameron Village

0 0.05 0.1 0.15 0.2 0.25 0.3 0.35

1 qtr 2012 Retail1 qtr 2012 Warehouse1 qtr 2012 Flex1 qtr 2012 Office1 qtr 2012 TYPE

West Raleigh

US 70 Glenwood Ave.

Six Forks

Falls of Neuse

US 1/Capital Blvd

Downtown

Cameron Village

0 0.1 0.2 0.3 0.4 0.5

4 qtr 2011 Retail4 qtr 2011 Warehouse4 qtr 2011 Flex4 qtr 2011 Office4 qtr 2011 TYPE

Vacancy rates- 4th quarter 2011 to 1st quarter 2012[ ]

Economic Development

Three Quarters Compared

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

3rd qtr 20114th qtr 20111st qtr 2012

Offi

ce

Fle

x

Wa

reh

ou

se

Re

tail

[ ]

Economic Development

Year

20022004

20052006

20072008

20092010

20110

20000000400000006000000080000000

100000000120000000140000000160000000180000000200000000

[ Commercial ]

CommercialLinear (Commercial)

Year

20022004

20052006

20072008

20092010

20110

50000000

100000000

150000000

200000000

250000000

[ Office ]

OfficeLinear (Office)

Raleigh and ETJ New Non-Residential Building Activity

Cons

truct

ion

Valu

eCo

nstru

ctio

n Va

lue

Economic Development

Year

20022004

20052006

20072008

20092010

20110

20000000400000006000000080000000

100000000120000000140000000160000000180000000200000000

[ Institutional ]

InstitutionalLinear (Institutional)

Year

20022004

20052006

20072008

20092010

20110

5000000

10000000

15000000

20000000

25000000

30000000

35000000

40000000

[ Industrial ]

IndustrialLinear (Industrial)

Cons

truct

ion

Valu

eCo

nstru

ctio

n Va

lue

Raleigh and ETJ New Non-Residential Building Activity

www.InvestRaleigh.com or www.RaleighEconomicDevelopment.com

Economic Development

[ ? ]

Economic Development

Based on what you have heard today are there other issues to be addressed?

Economic Development

Is there a particular issue that you feel is critical to Raleigh’s

success in economic development?

Economic Development

What do you believe to be a priority for economic development? (two votes

each)

a) New business development (not currently located here)

b) Expansion and retention of existing businesses

c) Neighborhood redevelopment (commercial components)

d) Innovation and entrepreneurship ventures

Economic Development

[ ? ]Your questions…..