Economic Development Componets

8/8/2019 Economic Development Componets

1/42

Components of anComponents of anEconomic DevelopmentEconomic Development

StrategyStrategyA special assessment prepared by Geneva AnalyticsA special assessment prepared by Geneva Analytics


2/42

What Makes Up the ProcessWhat Makes Up the Process

Citizens

Workforce

Training

Business &

Driver Industries

Government &

Elected Officials

Elected officials, members ofplanning commissions, the County

Smart Growth Technical AdvisoryCommittee, etc

Home owner associations, serviceclubs, civic groups, interested

citizens

Owners and operators of business,representatives from the Countys driver

industry clusters, developers, representativesfrom agribusiness, farm bureau, etc.


3/42

Getting What You WantGetting What You Want

Retention &

Recruitment

PermittingProcesses

Policy

Development

Zoning

Strategic Planning


4/42

The Demographic BasicsThe Demographic BasicsRetail & ServicesRetail & Services

AgeAge

Marital StatusMarital Status

Family SizeFamily Size

Household IncomeHousehold Income

Disposable IncomeDisposable Income

EducationEducation

EmploymentEmployment

The Dynamicsof Change

Shifts in this element drives the

selection, pricing structure andscope of stores and services


5/42

The Demographic BasicsThe Demographic BasicsIndustrial & ManufacturingIndustrial & Manufacturing

AgeAge

Household SizeHousehold SizeIncomeIncome

EducationEducation

Skill LevelsSkill Levels

Distance from WorkDistance from Work

The Dynamicsof Change

Shifts in these elements determines theindustrial mix, wages paid and

opportunities for advancement


6/42

The Economic BaseThe Economic Base

FACTORS- Trends & Benchmarks

Quality of Life

Neighborhood Development

Entrepreneurship

Small Business Development

Sustainable Development

Business Retention, Expansion and Attraction


7/42

QUALITYOF LIFEQUALITYOF LIFE


8/42

Quality of LifeQuality of Life

Quality of Life is the economic well being, life style,Quality of Life is the economic well being, life style,and environment that an area offers. Improving theand environment that an area offers. Improving thequality of life is the ultimate aim of economicquality of life is the ultimate aim of economic

development programs and initiatives.development programs and initiatives. A balance has to be maintained between encouragingA balance has to be maintained between encouraging

the growth of the local economy, while limiting impactsthe growth of the local economy, while limiting impactsupon the quality of life.upon the quality of life.

In this postIn this post--industrial new economy people areindustrial new economy people areincreasingly seeking better quality of life.increasingly seeking better quality of life.


9/42

Quality of Life TrendsQuality of Life Trends

Young worker lifestyles fit no earlier pattern in history.Young worker lifestyles fit no earlier pattern in history. They are on a 24 hour/7They are on a 24 hour/7--dayday--aa--week scheduleweek schedule -- long, untraditional work hours.long, untraditional work hours.

They marry late and have fewer children.They marry late and have fewer children.

They like diversity in race, nationality, culture.They like diversity in race, nationality, culture.

They move around among jobs and locations and they'd just as soon rent asThey move around among jobs and locations and they'd just as soon rent asbuy.buy.

Whether it's cappuccino or a movie, they want it when they want it.Whether it's cappuccino or a movie, they want it when they want it.

They tend to reject the suburbs in favor of funky neighborhoods.They tend to reject the suburbs in favor of funky neighborhoods. They're into authenticity.They're into authenticity.

They like old buildings or new buildings that look like old buildings.They like old buildings or new buildings that look like old buildings.

Talented youth, the new key to any truly successful economy.Talented youth, the new key to any truly successful economy.

Look for highLook for high--grade natural environments and places with real charm:grade natural environments and places with real charm:sociable and walksociable and walk--able places with restaurants, cafes, bars, night clubs,able places with restaurants, cafes, bars, night clubs,health clubs, and public spaces.health clubs, and public spaces.


10/42

Quality of Life TrendsQuality of Life Trends

High school and university standards are a key consideration forHigh school and university standards are a key consideration forfamilies moving into an area.families moving into an area.

Relocating or expanding businesses also place a strong emphasis onRelocating or expanding businesses also place a strong emphasis oneducation standards to encourage existing employees to move, attracteducation standards to encourage existing employees to move, attract

new employees, and to take advantage of a wellnew employees, and to take advantage of a well--educated workforce.educated workforce. Businesses migrate to areas where the quality of life matches the groupBusinesses migrate to areas where the quality of life matches the group

of employees that they are trying to attract. Many areas are trying toof employees that they are trying to attract. Many areas are trying toattain a mix of urban and rural to help foster new economy businessesattain a mix of urban and rural to help foster new economy businessesand workforce.and workforce.

Urban lifestyles cater for young professionals and startUrban lifestyles cater for young professionals and start--up businesses.up businesses.

Rural/suburban lifestyles cater to a familyRural/suburban lifestyles cater to a family--orientated workforce.orientated workforce. Taxation is an important component of quality of lifeTaxation is an important component of quality of life -- low taxeslow taxes

enable people to have more disposable income.enable people to have more disposable income.


11/42

Quality of LifeQuality of Life

Professionals planning to start a family are moving fromProfessionals planning to start a family are moving fromCalifornia and NewYork to rural areas that access to urbanCalifornia and NewYork to rural areas that access to urban

centers.centers.

These areas offer lower costs of living, less pollution, openThese areas offer lower costs of living, less pollution, openspaces, and lower crime, while offering employment in similarspaces, and lower crime, while offering employment in similar

fields or enabling professionals to begin their own business.fields or enabling professionals to begin their own business.


12/42

NEIGHBORHOODNEIGHBORHOOD

DEVELOPMENTDEVELOPMENT


13/42

Neighborhood DevelopmentNeighborhood Development

Conceptual ObjectivesConceptual Objectives Daytime populationDaytime population

Shopping & SalesShopping & Sales

Pedestrian AmenitiesPedestrian Amenities

No CongestionNo Congestion

Ease of AccessEase of Access

Tax Base DiversificationTax Base Diversification

Factors bearing on the WantFactors bearing on the Want Knowing what you wantKnowing what you want

Available space for developmentAvailable space for development

What has to go in order to getWhat has to go in order to get

Commitment of both vision, planning andCommitment of both vision, planning andresourcesresources

Stake holder involvementStake holder involvement

Utilization of existing resourcesUtilization of existing resources TheatreTheatre ParksParks

ParkingParking

Population densityPopulation density

Development standardsDevelopment standards Mixed useMixed use

Political PredictabilityPolitical Predictability


14/42

Neighborhood Development TrendsNeighborhood Development Trends

Promoting minority business developmentPromoting minority business development Increasing emphasis on improving the quality of life withinIncreasing emphasis on improving the quality of life within

neighborhoodsneighborhoods MixedMixed--use land use in neighborhoods are becoming a key partuse land use in neighborhoods are becoming a key part

of neighborhood economic development.of neighborhood economic development. IT training is aiming to bridge the digital divide.IT training is aiming to bridge the digital divide.

Collaborative efforts between local governments andCollaborative efforts between local governments andinstitutions, neighborhood residents and the private sector toinstitutions, neighborhood residents and the private sector toprovide services are on the rise.provide services are on the rise.

FaithFaith--based neighborhood economic development isbased neighborhood economic development isbecoming increasingly commonplace.becoming increasingly commonplace.

Development of venture capital funds for neighborhoodDevelopment of venture capital funds for neighborhooddevelopment.development.


15/42


BenchmarksBenchmarks--Quantitative MeasuresQuantitative Measures

Number of new businessesNumber of new businesses

Number of retail and consumer businessesNumber of retail and consumer businesses

Number of vacant or underutilized sites rehabilitated or reusedNumber of vacant or underutilized sites rehabilitated or reused

Business failure rates (or ratio of startups to failures)Business failure rates (or ratio of startups to failures)

Number of jobs createdNumber of jobs created

Cost per job createdCost per job created

Percentage of women and minority ownershipPercentage of women and minority ownership

Number of local residents hiredNumber of local residents hired

Private sector leveragePrivate sector leverage

Available amenitiesAvailable amenities


16/42


BenchmarksBenchmarks--Qualitative MeasuresQualitative Measures

Diversification of businesses (e.g. new industries, new services)Diversification of businesses (e.g. new industries, new services)

Stated project goals and the degree to which they have been achievedStated project goals and the degree to which they have been achieved

Physical appearance of local businesses, local buildings and thePhysical appearance of local businesses, local buildings and theneighborhood in generalneighborhood in general

Resident and business satisfaction with services, shopping, amenitiesResident and business satisfaction with services, shopping, amenitiesand the physical appearance of the neighborhoodand the physical appearance of the neighborhood

Range and quality of publicRange and quality of public--private partnerships to support initiativesprivate partnerships to support initiatives

Community involvement in initiatives (local residents and localCommunity involvement in initiatives (local residents and local

businesses)businesses) Changing use of the neighborhood (e.g. more people using facilities,Changing use of the neighborhood (e.g. more people using facilities,

easier access)easier access)


17/42

ENT

REPRENEURSHIPENT

REPRENEURSHIP


18/42

EntrepreneurshipEntrepreneurship

The process of creating a business idea and turning it intoThe process of creating a business idea and turning it intoa real business.a real business. Entrepreneurs create new goods and services based onEntrepreneurs create new goods and services based on

new technologies or demands.new technologies or demands.

They are extremely motivated and focused, typicallyThey are extremely motivated and focused, typicallyspending long, unpaid hours working on their ideas inspending long, unpaid hours working on their ideas inattempts to turn them into profitable businesses.attempts to turn them into profitable businesses.

Entrepreneurs are the engines of the economy in everyEntrepreneurs are the engines of the economy in every

generation, so many economic development effortsgeneration, so many economic development effortssupport their needs in the hope of creating newsupport their needs in the hope of creating newemployment prospects.employment prospects.


19/42

EntrepreneurshipEntrepreneurship-- TrendsTrends

Entrepreneurs create approximately 600,000Entrepreneurs create approximately 600,000 -- 800,000800,000new businesses each year.new businesses each year.

Skilled individuals leave large businesses to becomeSkilled individuals leave large businesses to becomeentrepreneurs because they see:entrepreneurs because they see: New and emerging market opportunitiesNew and emerging market opportunities

Greater career progression/use of skillsGreater career progression/use of skills

IndependenceIndependence


20/42

EntrepreneurshipEntrepreneurship-- TrendsTrends

Graduates and university students in ITGraduates and university students in IT--related fieldsrelated fieldsare becoming entrepreneurs in IT, eare becoming entrepreneurs in IT, e--commerce, andcommerce, andelectronic engineering businesses.electronic engineering businesses.

Entrepreneurs need training and technical assistance;Entrepreneurs need training and technical assistance; Incubators empower entrepreneurs by giving them access toIncubators empower entrepreneurs by giving them access to

equipment, funding, and mentoring.equipment, funding, and mentoring.

Entrepreneur training programs give entrepreneursEntrepreneur training programs give entrepreneurs

skills and business acumen to develop ideas into realskills and business acumen to develop ideas into realbusinesses.businesses. Programs cover issues such as financing, legislation,Programs cover issues such as financing, legislation,

marketing, and accounting practices.marketing, and accounting practices.


21/42

EntrepreneurshipEntrepreneurship

Quantitative MeasuresQuantitative Measures

Number of new business startupsNumber of new business startups Numbers of entrepreneurs assistedNumbers of entrepreneurs assisted Business failure rates (or ratio of startBusiness failure rates (or ratio of start--ups to failures)ups to failures) Number and cost of jobs createdNumber and cost of jobs created Percentage of women and minorities assistedPercentage of women and minorities assisted Number of local residents hiredNumber of local residents hired Diversification of businesses (e.g. new industries, newDiversification of businesses (e.g. new industries, new

services)services) Program graduates understanding the costs andProgram graduates understanding the costs and

opportunities of an entrepreneurial endeavoropportunities of an entrepreneurial endeavor Ability to create a supportive environment forAbility to create a supportive environment for

entrepreneurs (courses, networks, mentors)entrepreneurs (courses, networks, mentors) Stated project goals and the degree to which they haveStated project goals and the degree to which they have

been achieved (e.g. promotion of femalebeen achieved (e.g. promotion of femaleentrepreneurs)entrepreneurs)

Success ismeasured

by


22/42

SMALL BUSINESSSMALL BUSINESS

DEVELO

PMENT

DEVELO

PMENT


23/42

Small BusinessSmall Business

25 million small businesses employ more than 50 percent of the private25 million small businesses employ more than 50 percent of the privatework forcework force

Generate more than half of the nation's gross domestic product, and areGenerate more than half of the nation's gross domestic product, and arethe principal sources of new jobs in the U.S. economy.the principal sources of new jobs in the U.S. economy.

Small businesses have led to improvements in the environment withinSmall businesses have led to improvements in the environment within

which small businesses operate, with a proactive approach used to assistwhich small businesses operate, with a proactive approach used to assistsmall business owners.small business owners. Since the U.S. Small Business Administration's definition of smallSince the U.S. Small Business Administration's definition of small

business is any business with fewer than 500 employees, small businessesbusiness is any business with fewer than 500 employees, small businessesvary widely in size and character.vary widely in size and character.

Many small businesses distinguish themselves by being innovative,Many small businesses distinguish themselves by being innovative,

flexible, and strongly tied to the community.flexible, and strongly tied to the community. Small businesses often require specialized financing tools and programsSmall businesses often require specialized financing tools and programs

to grow and develop new products.to grow and develop new products.


24/42

Small Business TrendsSmall Business Trends

Business incubators foster startBusiness incubators foster start--up companies their first fewup companies their first fewyears, a time in which most small businesses die.years, a time in which most small businesses die.

Small business incubators provide office space, administrativeSmall business incubators provide office space, administrativeassistance, funding information such as links to venture capitalassistance, funding information such as links to venture capitaland proactive entrepreneurial mentoring.and proactive entrepreneurial mentoring.

Technology and biotech incubators are in high demand byTechnology and biotech incubators are in high demand bystartup firms because they offer mentoring affordable officestartup firms because they offer mentoring affordable officespace, technology infrastructure and laboratory costs and thusspace, technology infrastructure and laboratory costs and thusallow the firm to concentrate business and product development.allow the firm to concentrate business and product development.

Business improvement districts fund activities andBusiness improvement districts fund activities andimprovements, such asimprovements, such as streetscapingstreetscaping and stronger lawand stronger lawenforcement, which benefit small retail businesses in commercialenforcement, which benefit small retail businesses in commercialareas.areas.


25/42

Small Business TrendsSmall Business Trends

Informal and formal networking helps small businesses learnInformal and formal networking helps small businesses learnfrom each other about how to reach new customers, suppliersfrom each other about how to reach new customers, suppliersand potential workers.and potential workers.

Small eSmall e--commerce businesses ranging from Web design to onlinecommerce businesses ranging from Web design to online

retailers allow entrepreneurs to sell goods and services all dayretailers allow entrepreneurs to sell goods and services all daylong, all around the world, with minimal investment in brickslong, all around the world, with minimal investment in bricks--andand--mortar storefronts.mortar storefronts.

Small businesses rooted in technology may employ fewer than 10Small businesses rooted in technology may employ fewer than 10people and yet have budgets in the millions and offer excellentpeople and yet have budgets in the millions and offer excellent

wages.wages.

FeeFee--based small business buyer's consortia make membersbased small business buyer's consortia make memberseligible for bulk discounts on raw materials, such as foodeligible for bulk discounts on raw materials, such as foodproducts and metals or other inputs like broadband service.products and metals or other inputs like broadband service.


26/42

Small BusinessSmall Business--

Quantitative MeasuresQuantitative Measures

Number of new ventures startedNumber of new ventures started

TurnTurn--overover Growth rate (Employees, Sales, Space)Growth rate (Employees, Sales, Space)

Community participation (ie. Chamber ofCommunity participation (ie. Chamber of

Commerce, Service clubs, etc.)Commerce, Service clubs, etc.)


27/42

SustainableSustainable

DevelopmentDevelopment


28/42

Sustainable Development TrendsSustainable Development Trends

Building sustainable communities involves considering how to:Building sustainable communities involves considering how to:

Encourage employment, Decent housing , Good health,Encourage employment, Decent housing , Good health,Access services and recreationAccess services and recreation

Communities can accomplish these goals while making good useCommunities can accomplish these goals while making good use

of natural resources, protecting the environment, promote socialof natural resources, protecting the environment, promote socialcohesion, and contributing to local, regional, and nationalcohesion, and contributing to local, regional, and nationalprosperity.prosperity.

Sustainable development brings together matters such as landSustainable development brings together matters such as landuse planning, an integrated transport policy, housing anduse planning, an integrated transport policy, housing and

construction, and regeneration of cities, towns and rural areas.construction, and regeneration of cities, towns and rural areas. Decisions on matters like planning, transport, or housing areDecisions on matters like planning, transport, or housing are

ultimately about the quality of life of communities andultimately about the quality of life of communities andindividuals.individuals.


29/42

Sustainable DevelopmentSustainable Development-- TrendsTrends

Energy efficiency measuresEnergy efficiency measures -- some of which can pay forsome of which can pay forthemselves in just two to three yearsthemselves in just two to three years -- and changing energy useand changing energy usein the home, enables people to have warmer and morein the home, enables people to have warmer and morecomfortable homes while still reducing the amount of moneycomfortable homes while still reducing the amount of moneythat people need to spend on heating. This leads to a reductionthat people need to spend on heating. This leads to a reductionin pollution and resource use, because the demand on fossil fuelin pollution and resource use, because the demand on fossil fuel--burning electricity generators is reduced.burning electricity generators is reduced.

The development of recycling schemes helps reduce theThe development of recycling schemes helps reduce thedepletion of raw materials, pressures on landfill sites, and thedepletion of raw materials, pressures on landfill sites, and the

demand for new manufactured products.demand for new manufactured products. Urban areas are developing and promoting alternativeUrban areas are developing and promoting alternative

environmentallyenvironmentally--friendly methods of transport, through:friendly methods of transport, through:


30/42

Sustainable DevelopmentSustainable Development-- TrendsTrends

Creating and extending cycle routesCreating and extending cycle routes

Developing more integrated mass transit systemsDeveloping more integrated mass transit systems

Building pedestrian friendly streetscapesBuilding pedestrian friendly streetscapes

There has been a move towards the involvement of socialThere has been a move towards the involvement of socialpartners and policies that promote sustainable development.partners and policies that promote sustainable development.

EcoEco--industrial parks are being developed.industrial parks are being developed.

Brownfields redevelopment enables remediation ofBrownfields redevelopment enables remediation ofcontaminated sites, and provides prime real estate.contaminated sites, and provides prime real estate.

Preservation orders and strict planning guidelines have beenPreservation orders and strict planning guidelines have beenplaced on rural land at the edges of city limits to prevent furtherplaced on rural land at the edges of city limits to prevent furtherurban sprawl.urban sprawl.


31/42

Business Retention, ExpansionBusiness Retention, Expansion

& Attraction& Attraction


32/42


& Attraction& Attraction

Business retention programs are concerned withBusiness retention programs are concerned withrelationship building, so they should have an importantrelationship building, so they should have an importantinfluence on how businesses view their community andinfluence on how businesses view their community and

the activities of the local government.the activities of the local government. Business retention programs may not be directlyBusiness retention programs may not be directly

involved with service provision, but they need to knowinvolved with service provision, but they need to knowhow to get a business the assistance it requires.how to get a business the assistance it requires.

The degree to which business retention programs areThe degree to which business retention programs arelinked to other community programs such as loanlinked to other community programs such as loanfunds or workforce training initiatives can have afunds or workforce training initiatives can have asignificant impact on program effectiveness.significant impact on program effectiveness.


33/42


& Attraction& Attraction Business retention and expansion programs assist smallBusiness retention and expansion programs assist small

businesses to prevent their relocation and to help them survivebusinesses to prevent their relocation and to help them survivein difficult times.in difficult times.

Retention programs typically involve partnerships among publicRetention programs typically involve partnerships among publicand private organizations that assess the assets and opportunitiesand private organizations that assess the assets and opportunities

of individual companies through periodic surveys, interviews,of individual companies through periodic surveys, interviews,and visitations.and visitations.

The purpose is to establish relationships between communityThe purpose is to establish relationships between communitybusinesses and economic developers to strengthen existingbusinesses and economic developers to strengthen existingcompanies, establish early warning systems to flag atcompanies, establish early warning systems to flag at--riskrisk

businesses that require assistance, and ensure that publicbusinesses that require assistance, and ensure that publicprograms meet local business needs.programs meet local business needs. Business retention and expansion initiatives usually include aBusiness retention and expansion initiatives usually include a

mechanism for linking expanding businesses with publicmechanism for linking expanding businesses with publicprograms designed to mitigate growing pains and regulatoryprograms designed to mitigate growing pains and regulatoryissues.issues.


34/42


& Attraction& Attraction-- TrendsTrends

LowLow--interest loans, available to businesses purchasinginterest loans, available to businesses purchasingland, refurbishing buildings, and new equipment.land, refurbishing buildings, and new equipment.

Bond programs are created to help lower the cost ofBond programs are created to help lower the cost ofborrowing for a business; the interest on a bond isborrowing for a business; the interest on a bond ismuch lower than on traditional bank loans.much lower than on traditional bank loans.

Increased use of zoning to encourage and discourageIncreased use of zoning to encourage and discouragedesirable and undesirable business expansion anddesirable and undesirable business expansion andretentionretention

LowLow--cost training provided for the workforce ofcost training provided for the workforce ofbusinesses and industries, allowing them to remainbusinesses and industries, allowing them to remaincompetitive, this is usually provided locally through acompetitive, this is usually provided locally through avariety of counties or state programs.variety of counties or state programs.


35/42


& Attraction& Attraction-- TrendsTrends OneOne--stop permitting centers enable businesses to begin or expand operationsstop permitting centers enable businesses to begin or expand operations

quickly.quickly. Ensuring business finance availability is an important part of BRE. ManyEnsuring business finance availability is an important part of BRE. Many

cities now work on identifying and promoting financial incentives oftencities now work on identifying and promoting financial incentives oftenthrough one stop services linking companies to services in the key areas of:through one stop services linking companies to services in the key areas of:

FinanceFinance IncentivesIncentives

TaxesTaxes

Real estateReal estate

Workforce issuesWorkforce issues

RegulationsRegulations

TechnologyTechnology

A recent trend in BRE has been further expansion of Planned ManufacturingA recent trend in BRE has been further expansion of Planned ManufacturingDistricts (PMDs) which create tiered zoning reserving the core of an area forDistricts (PMDs) which create tiered zoning reserving the core of an area formanufacturing and creates a buffer area for commercial use, separatingmanufacturing and creates a buffer area for commercial use, separatingresidential properties from the heavy manufacturing area. This allows forresidential properties from the heavy manufacturing area. This allows forheavy industry and upscale residential property to coexist, reducing sprawl.heavy industry and upscale residential property to coexist, reducing sprawl.


36/42


& Attraction& Attraction-- Quantitative MeasuresQuantitative Measures Number jobs created/retainedNumber jobs created/retained Number of retained businessesNumber of retained businesses Cost per job created/retainedCost per job created/retained Number of businesses visitedNumber of businesses visited Number of businesses surveyedNumber of businesses surveyed Number of atNumber of at--risk businesses assistedrisk businesses assisted

Percent of jobs held by local residents/low incomePercent of jobs held by local residents/low incomepersonspersons Average salary of jobs createdAverage salary of jobs created SpinSpin--off private investmentoff private investment


37/42


& Attraction& Attraction-- Qualitative MeasuresQualitative Measures

Business perceptions of local governmentBusiness perceptions of local government

Business perceptions of the communityBusiness perceptions of the community

Relationship between business retention programs andRelationship between business retention programs andservices available to businesses (e.g. workforceservices available to businesses (e.g. workforce

development initiatives)development initiatives)

Involvement of assisted businesses in other communityInvolvement of assisted businesses in other communityactivitiesactivities


38/42

Areas ofOpportunityAreas ofOpportunity

General

Retail

Mixed Use

Industrial Park


39/42

Areas ofOpportunityAreas ofOpportunity-- GeneralGeneral

LocationLocation ConsiderationsConsiderationsDowntowns &Downtowns &

Freeway/InterstatesFreeway/Interstates

Clarity of Vision and BrandClarity of Vision and Brand

Proximity to Population BaseProximity to Population Base

Access to HighwaysAccess to Highways

Comprehensive PlanComprehensive Plan

Available SpaceAvailable Space

Financial Resources to Execute ProjectFinancial Resources to Execute Project

Shovel ready dirtShovel ready dirt

Traffic FlowTraffic Flow

ParkingParking

AmenitiesAmenities

Quality of SpaceQuality of Space


40/42

Areas ofOpportunityAreas ofOpportunity-- RetailRetail

LocationLocation ConsiderationsConsiderationsGeneralGeneral

ConcernsConcerns

Financial resources to develop a critical massFinancial resources to develop a critical mass

Reliable data upon which to base decisionsReliable data upon which to base decisions

Cost for infrastructureCost for infrastructure

Long term commitment to any one course of actionLong term commitment to any one course of action

Develop a targeted list of firms that meet city criteria

for recruitment


41/42

Areas ofOpportunityAreas ofOpportunity-- Mixed UseMixed Use

AreaArea IssuesIssues

DowntownsDowntowns Develop aDevelop a masterplanmasterplan for downtown areas that incorporatesfor downtown areas that incorporates

mixedmixed--use as a required element for new developmentuse as a required element for new development

Develop RFP or RFQ to identify qualified developers for potentialDevelop RFP or RFQ to identify qualified developers for potentialproject areasproject areas

Use incentives to assist property owners to upgrade existingUse incentives to assist property owners to upgrade existing

residential units to increase downtown resident populationresidential units to increase downtown resident population

Development of new mixed/use residential units in downtownDevelopment of new mixed/use residential units in downtown

Provide incentives to developers who bring projects that increaseProvide incentives to developers who bring projects that increasedowntown residency.downtown residency.

Identification of parking areas for downtown residentsIdentification of parking areas for downtown residents

Impose mixed use development standards to retail/office/Impose mixed use development standards to retail/office/commercial development via overlay zone or other vehiclecommercial development via overlay zone or other vehicle

Identify retail models that utilize mixed use as a fundamentalIdentify retail models that utilize mixed use as a fundamentalelement of the centerelement of the center


42/42

Areas ofOpportunityAreas ofOpportunity-- IndustrialIndustrial

AreaArea IssuesIssues

Industrial Parks Analysis of existing infrastructure, its capacity, etc.

Inventory existing firms, land use, employment and capacity offacilities

Amend existing leasing agreement to include requirement formarketing play and claw back provisions.

Develop a targeted list of industry groups that meet city criteria forrecruitment

Survey, meet with, etc existing firms to determine opportunities forexpansion

Documents

Economic Development Componets