Transcript Regional Asset Development - Wamego Chamber of Commerce

Regional Asset Development
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Mission of the RAD TAG
•Identify best practices and tools to assist the
regional partners in their ability to identify,
evaluate and reserve land and buildings for
the expansion and attraction of primary
employers.
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What is a primary employer?
A business creating a product or service that is
principally sold outside of a region, thereby generating
new money and profits into the region.
Examples include manufacturing, service
centers, corporate headquarters,
distribution facilities and research and
development.
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Why are Primary Jobs Important?
They create the disposable income that allows
development of retail, entertainment and service
sectors (consumptive businesses).
“To grow an economy you must create more primary
sector jobs which pay a wage higher than the area
average wage.”
The Flow of Money 2014, Policom Corporation
Retailers will follow people getting paid
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Importance of Real Estate
In order for an existing company to expand, a new
employer to move to an area or a start-up business
to grow: They need real estate!
“Absent available, improved, approved real estate for
primary employers, a local economy will decline.”1
The Flow of Money 2014, William Fruth; Policom Corporation
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Economic Development is
ultimately a real estate transaction
“The most important issue relative to the site selection
process is having an actual site”
The Flow of Money 2014, William Fruth; Policom Corporation
All of the other geographic issues…
• taxes,
• transportation,
• utilities,
• labor,
• quality of life, etc.
…are not considered if a place to operate cannot be provided.
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Factors impacting Private Sector
Employment Growth
“Available
development
sites” was the
most highly
correlated factor
Bluestone, Barry, What makes working cities work? Key Factors in Urban Economic Growth, Federal Reserve Bank of Boston,
Community Development Issue Brief 3, 2014
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Importance of Cooperation
Land use decisions cannot be made in isolation
What makes sense to one party may hamper
opportunities for land use to another
Example: Schools vs. Industry
Regional considerations:
• Local decisions have regional impact.
• Regional decision have local impact.
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Planning vs. Actual Use
McCall Road Corridor
2003 Comprehensive Plan
vs.
2014 Existing Land Use
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Encroachment
Opportunities arose which
generated development
different than the
Comprehensive Plan
The resulting development of
commercial and retail has
reduced the ability of a primary
employer to grow at its existing
site
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Conflicting Intent?
Eureka Valley – Highway K-18 Corridor
2014 Comprehensive Plan
2014 Existing Land Use / Zoning
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Mixed Use or “Mis”use?
Steel & Pipe Supply Company, Inc.
3rd & Osage
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What does “Available
Development Sites” mean…
• Sites protected from encroachment
• Sites created through a strategy for
repurposing existing buildings
• Up-to-date list of commercial and industrial
sites available to commercial brokers and
developers.
Bluestone, Barry, What makes working cities work? Key Factors in Urban Economic Growth, Federal Reserve Bank of Boston,
Community Development Issue Brief 3, 2014
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Recommendations: Tools
Education: Develop a one page document to illustrate the
importance of Primary Employers and the flow of money in
our local economy and the importance of identified and
protected land and buildings for ED.
Shovel Ready: Create a “Shovel Ready” type standard of
information needed for land that is for sale and is suitable for
development by primary employers.
LOIS: Use of Location One by all
jurisdictions and encourage
commercial brokers to list on LOIS.
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Recommendations: Policy
Permitting: Regional cooperation on streamlining zoning
and permitting processes to facilitate quicker approval.
Focus: Rather than a scattered approach, we suggest a
focused approach for industry clustering.
Funding: Economic Development dollars, public and private,
should be focused on Primary Employer retention, expansion
and recruitment.
.
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Top Recommendation:
Modify land zoning to follow and align with the
Comprehensive Planning process.
Protects property for “planned” use
Protects land investors from
unforeseen issues
Helps ensure infrastructure
investments are utilized in line with
the original purpose
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Thank you!
Members:
Matt Crocker, Steel and Pipe Supply (Chair)
Mark Bachamp, Olsson & Assoc.
Michael J. Bomberger, St. Marys Health Center
Kevin Fateley, Wildcat Creek Golf and Fitness
Rich Seidler, Commercial Real Estate Services LLC
Kendal Shoenrock, Kansa Development Corporation
Steve Struebing, Weary Davis, L.C.
Staff Support:
Trent Armbrust, Manhattan Area Chamber of Commerce
Gary Stith, Flint Hills Regional Council
Tom Weigand, Junction City Chamber of Commerce
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