Transcript Document
Scottsdale Economic Development: Downtown Activity Presentation to Arizona Commercial Real Estate Women’s Luncheon, January 2015 Overview • • • • Scottsdale Team Focus Draft Strategic Plan Downtown Overview Upcoming Activities Scottsdale Economic Development Definition “Through its economic development investments and programs, the City of Scottsdale retains, grows and attracts targeted sources of wealth generation to enhance the community’s tax base and quality of life, preserve the natural environment and foster prosperity for all citizens.” Job Creation Job Attraction Job Retention Enhancing the Tax Base Ultimately, to Improve Quality of Life Quiz Time • Most PROBABLY knew that: – Scottsdale is home to 125+ area golf courses, resorts, 9,300 hotel rooms and 600 restaurants – Over 300 sunny days per year • But do they have ANY IDEA that: – 21% of Arizona corporate HQ are in Scottsdale – Scottsdale is a NET IMPORTER of jobs – Top employment in healthcare and social assistance Did you know: AZ Venture Capital Investment Source: CB Insights Q4 2012 to Q3 2014 Arizona: $706.95 million Scottsdale Team Focus • Business Attraction – Outside of Arizona, leads generated through brokers, site selectors, state and regional partners • Business Retention & Expansion – Meet with existing Scottsdale companies • Redevelopment – Collaborate to redevelop existing sites and identified corridors of interest • Entrepreneurship + Innovation/ Small Business – Support existing programs and develop new strategies to assist the local business community Mid-Year Metrics • New jobs created/retained in Year 1: 411 (1,475 over 5 years) • Average wage of jobs: > $61,000 • Business retention visits: 51 • Capital investment: $15 M • Direct revenue: $3.5 M Recently Launched Services • Recruitment support, executive information • Welcome support for newly located labor • Extensive marketing and resource materials • Online property listings • Small business programming Economic Development Strategic Plan (Draft) Strategic Goals • Scottsdale City Council’s Organizational Strategic Plan, formally approved in December 2013, provides the foundational underlayment for the economic development strategic framework • Goals of the Council’s strategic plan: – – – – – – Value Scottsdale's Unique Lifestyle and Character Support Economic Vitality Enhance Neighborhoods Preserve Meaningful Open Space Seek Sustainability Advance Transportation Draft Economic Development Strategic Plan 1. Retain and grow existing economic drivers and employers 2. Support efforts that will enable Scottsdale’s present and future employers to cultivate, retain and attract the talent that they need 3. Focus efforts and investment in strengthening key employment and business centers 4. Elevate Scottsdale’s engagement in the national and international economic development arena 5. Build a Scottsdale business location brand on par with Scottsdale’s tourism brand 6. Grow and attract quality firms and jobs – domestic and global in targeted sectors FY 2014/15 Primary Activities • Seek Council adoption, and launch Implementation of Economic Development Strategic Plan • Business retention program growth, with new service programs launched to help with labor needs and community orientation • Increase participation in local, regional and state outreach activities with economic development partners • Development of custom targeted marketing materials for each focused business sector • Leveraging of economic development with tourism assets and programs to raise business brand awareness Top Business Decision Factors Site Selection Quality of Life 1. 2. 3. 4. 1. 2. 3. 4. 5. 6. Labor costs Highway accessibility Availability of skilled labor Availability of advanced ICT services 5. Occupancy/construction costs 6. Energy availability and rates 7. Corporate tax rates 8. Available buildings 9. Tax exemptions 10. Low union profile/right to work 7. 8. 9. Low crime rate Healthcare facilities Housing availability Housing costs Rating of public schools College and university presence Climate Recreational opportunities Cultural opportunities Source: Site Selection Magazine, 2012 Annual Corporate Survey Target Sector Value Propositions • Bio Life Sciences – – • Advanced Business Service – – • – Cluster of entrepreneurial support organizations and programs Accessibility to local talent and resources to expand business operations Higher Education – – • Scottsdale has an enviable record of creating remarkable successful companies that have rapidly prospered and remained in the city even after outside acquisition. City boasts a very strong pool of talent. The EMSI database shows 56,000 computer related occupations in the Phoenix-Mesa-Scottsdale MSA, 18 percent higher than the national average. Emerging Enterprise & Entrepreneurship – – • Very impressive visitor location/appeal for clients and business transactions Competitive operating cost advantages and affordability of housing Information, Communications & Technology – • Strong industry cluster provided collaborative efforts between health care provides and innovated research Highly skilled and educated workforce in Scottsdale (Average Salary $52,259) Strong network of post secondary institutions in Arizona Opportunity for employment growth within the education sector Hospitality/Visitor Trade and Commerce – – Internationally recognized tourism destination World renowned shopping, entertainment, and amenities provide visitors a unique experience Downtown Scottsdale: Evolving Business Hub A History of Downtown Scottsdale 50’s and 60’s: Developing Downtown 80’s: 90’s: Initial Decline and planning efforts More decline and aggressive strategies 2000’s: Redevelopment idea traded for ‘Revitalization’ and significant public investments made 2010’s: Area emerging as new magnet for growing tech firm expansions, causing new growth challenges Downtown Scottsdale TODAY $2B in investment has occurred in the last decade. • • • • Tourism mecca Tech hub Active nightlife Shifting demographics Downtown In Demand • Citywide office vacancy rate 15% - downtown office vacancy rate 10.7% • Office space at a premium; contiguous space of 15,000 square feet or greater not attainable in downtown 85251 • Companies want to be located in urban cores providing endless possibilities for their employees • Shift from where CEO wants to be and more where employees will find happiness and opportunity Changing Face of Downtown • • • • • Attainable housing in Downtown Scottsdale versus other competitive markets is very attractive for tech expansions Downtown Scottsdale provides versatility for the current workforce While the City has a median age of 46, in Downtown Scottsdale it is 31 The labor force in downtown ZIP code 85251 is 40,715 with an average earnings of $48,781 12 month residential list price appreciation in ZIP code 85251 was 24.6 percent Industry Growth Quarterly and Annual Reports online @ ChooseScottsdale.com Top Deal Growth Market CB Insights, November 2014, Next Silicon Valley Luxury Apartment Explosion • 2,750 total multi family units approved/ under construction – Optima Sonoran Village – Broadstone Waterfront – Stetson East / West – Portales Place – Envy – Aerium – Enclave at Borgata Nearby Growth • New multi-family open/under construction: – – – – • • • • SkySong Apartments Mark Taylor Las Aguas The Clayton SkySong Phase III Announcement of SkySong Phase IV Theranos Yodle How Did We Get Here? • Targeted infrastructure improvements • Streamlined the development process with parking flexibility • Focus on enhancing City services such as code compliance • New public parking facilities • Canal bank improvements • Arts and culture investment • Streetscape improvements and beautification • Enhanced bus and trolley service Infill Incentives District • Redevelopment Area designation lifted • Scottsdale opted to create an Infill Incentive District which uses an overlay to offer greater HEIGHT and DENSITIES in exchange for investment in public art and other improvements • Adopted in 2010 Additional Creative Approaches • Connecting new employers with traditional downtown merchants • Proactively addressing nightlife concerns to enhance safety and manage traffic Public/private partnerships (Museum of the West) • Mixed Use Public Parking Structures • Redevelopment property RFP • Downtown parking solutions analysis Projects on the Horizon • • • • • Museum of the West Fashion Square expansion Waterfront mixed-use project DeskHub, collaboration among firms Phoenix Startup Week Team Information Danielle Casey, CEcD, EDFP Director 480-312-7601 [email protected] Christian Green Economic Development Manager Strategic Marketing 480-312-2612 [email protected] Mark Paratore Economic Development Specialist Small Business/Workforce/Research 480-312-2038 [email protected] Robert (Bob) Tunis Economic Development Manager Business Retention & Expansion 480-312-7057 [email protected] Rob Millar Economic Development Manager Business Attraction 480-312-2533 [email protected] @ScottsdaleEcDev More information: ChooseScottsdale.com ChooseScottsdale Text ‘ChooseScottsdale’ to 22828 for e-news