Transcript Document
Scottsdale Economic
Development:
Downtown Activity
Presentation to Arizona Commercial Real Estate
Women’s Luncheon, January 2015
Overview
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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:
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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
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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
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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
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Bio Life Sciences
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Advanced Business Service
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Cluster of entrepreneurial support organizations and programs
Accessibility to local talent and resources to expand business operations
Higher Education
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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
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Very impressive visitor location/appeal for clients and business transactions
Competitive operating cost advantages and affordability of housing
Information, Communications & Technology
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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
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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.
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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
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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:
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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
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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’
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