[ ] Business Development

B u s i n e s s D e v e l o p m e n t T a s k F o r c e

D r a f t F i n a l R e p o r t S u m m a r y

March 25, 2 0 0 4

Business Development Task ForceAcknowledgments

– Arlene Allen Mitchell, Dynamic Perceptions

– Steve Solomon, Bellsouth– Peter Quinter, Becker &

Poliakoff– Jerry Watterworth, Union

Planters Bank– Gerry Litrento, Union Planters

Bank– Linda Cooke, Habilitation Center– James Carras, Carras

Community Investment Inc.– William Derrer, James A.

Cummings, Inc.– Christopher Pollock, Ft.

Lauderdale Chamber of Commerce

– Peyton Moore, Broward Alliance

– Bob Swindell, Broward Alliance

– Bryan Cahen, City of Hollywood

– Michael O’Rourke, Morrison, Brown, Argiz & Co.

– Barbara Balter, Suntrust– Gwen Watson, Midtownbiz

Development– Denise Ramirez, DAR

Business Services– David Reece, Vista School

“THE WORLD SPINS ON BROWARD COUNTY’S FINGERTIPS”

• Fortune 500 CEO’s point to recent venture capital investments as evidence that Broward County is the most financially innovative global economy in the world.

• Public-Private partnerships continue to insure that infrastructure will support growth and never sacrifice quality of life issues.

• Industrial expansion in tandem with 24/7 technology opportunities has fueled unprecedented growth of small and medium businesses.

• Regional mindsets are evident by the South Florida Tourism Bureau effectively capitalizing on national visitors to the Global Merchandise Mart.

• Education initiatives launched 20 years ago by biomedical and technology leaders continue to provide a talented labor pool, our ongoing key to progress.

Business Development Task Force Overview

Broward County should provide leadership to leverage regional resources and promote South Florida as a world-class destination for tourism and business

Business Development Task Force Mission

Policy One• Leverage existing and future resources and

geographic/regional advantages of South Florida to promote existing high-paying industries and attract new emerging industries that will continue to promote and better the quality of life and economic advantages of Broward County.

Recruit industries that have higher paying jobs through a coordinated inter-governmental, inter-agency approach with a focus on:

Life Sciences - medical field pharmaceuticals/biotech Aviation and Aerospace Headquarters - Financial - Administrative Hospitality Industry (tourism, cruise)

Business Development Task Force Policies

Policy One (cont’d)

Marine Industry/Recreational boating Wholesale Distribution - durable and non-durable

goods Film and Motion picture production “21st Century Industries” including photovoltaics,

fiber optics cable

Enhance Broward’s marketability through effective redevelopment projects, in affordable housing/mixed use development.


Policy Two• Take the lead in unifying with regional partners and cities to

create a South Florida brand. Collaborate with regional partners and Broward County cities to create a unified South Florida brand.

Research best practices of peer counties successful with a regional marketing approach.

Solicit support for regional marketing approach from key stakeholders.

Determine if a regional marketing brand/campaign would be effective and retain marketing agency to work with stakeholders to create/develop a regional brand.

Acknowledge/incorporate image of regional tourism and create a coordinated marketing message to promote int’l trade and attract foreign direct investment.


Policy Three• Create central information stations/clearinghouses

throughout the County that identify, coordinate and promote all assets, resources and information that are required by, and available to all businesses.

Develop three strategically located Outreach/Resource Centers.

Create separate Small Business Development Division.

Create a dedicated source of capital streamlined for small and minority businesses with a revolving fund.

Allocate more funds to Metro Broward Economic Development Corp.

Expand business opportunities for the culturally diverse small and minority businesses.


Policy Four• As regional tourism is an economic driver for Broward

County, the County must establish itself as a world-class destination.

Create a Southeast Florida Tourism Bureau. Invest in tourism attractions (enable an icon). Protect and enhance natural resources. Attract visitors from all over the world with an

image of comfort, peace, and safety. Enhance transportation accessibility for visitors to

South Florida.

Increase industry salaries and invest in education.


Broward County should provide leadership to leverage regional resources and promote South Florida as a world-class destination for tourism and business

Business Development Task Force Mission

Policy Five• Support and promote international trade and foreign

direct investment through the coordination and development of the county’s infrastructure for international trade promotion, and attraction of foreign direct investment by establishing an International Trade Center (ITC).

Create an (ITC) as a focal point for the county's effort to create/ expand int’l trade opportunities and attract new business.

Conduct a "Needs Analysis" of existing Broward businesses to determine baseline of int’l trade statistics and identify barriers, gaps and needs to expand international trade.


Policy Five (cont’d) Encourage and facilitate educational

opportunities with businesses to expand int’l trade, through training, mentoring programs, enhanced int’l curriculum to include languages, cultural awareness and international business.

Establish a permanent International Business Advisory Board for the County to provide ongoing guidance.


Policy Six• Create a coordinating council for economic development

agencies with a central information system to identify, coordinate and promote all assets, resources and information that is available throughout the County for businesses and provide information in a comprehensive manner.

Create a coordinating council by County Ordinance. Develop a handbook providing information on

economic development countywide with contacts and a directory of small and minority businesses.

Establish a central information system via a website to help conduct business 24 hours a day, 7 days a week and develop a calendar of events related to international trade and business.


Policy Seven• Promote Broward County & South Florida as a center for

venture capital backed entrepreneurial activity- particularly leveraging Scripps-related businesses/spin offs.

Create/subsidize locally-based venture capital and seed/angel investment funds.

Provide/coordinate training and mentoring programs for entrepreneurs and management and sponsor “Entrepreneur Training” programs at local universities.

Establish Scripps liaison office for County.


Policy Eight• Establish a policy to utilize public/private partnerships to

facilitate economic development and redevelopment, for; land assembly activities; facilitation of the land development process; greater access to capital formation; affordable housing; small business development and expansion; and transportation.

Develop enabling policy by County Ordinance to create the above mentioned public/private partnerships.

Prepare a business plan with details on operating missions, goals and objectives.


Existing municipal and county operating budgets and capital improvement programs, particularly for overlapping budget items

New financing mechanisms such as revolving loans, venture capital, etc.

Individual stakeholder contributions in public and private sectors

Partnerships/sponsorships with businesses User Fees Bed Tax Bond Issue

Business Development Task Force Funding Source Options

B u s i n e s s D e v e l o p m e n t T a s k F o r c e

D r a f t F i n a l R e p o r t S u m m a r y

March 25, 2 0 0 4

Documents

[ ] Business Development