City Works Economic Health Presentation. March 25, 2010

Transcription

1 City Works Economic Health Presentation March 25,

2 Background Economic health program launched in 2004 City Council appointed the Economic Vitality and Sustainability Action Group Staff hired to coordinate economic activities Economic Action Plan adopted by Council in 2005 Retail retention and expansion program launched Industry Cluster program launched Business retention/expansion programs launched Business incubation programs expanded 2

3 ECONOMIC ACTION PLAN STRATEGIES Four key strategies: Business retention, expansion, incubation and attraction Be proactive on economic issues Build partnerships Diversify the economy 3

4 12.0% Unemployment Trend 10.0% 10.0% 8.0% 6.9% 6.0% 6.3% 4.0% 2.0% 0.0% Source: Bureau of Labor Statistics United States Colorado Fort Collins

5 BUSINESS RETENTION, EXPANSION, INCUBATION & ATTRACTION Focus on business expansion efforts RMI2 building, fundraising, program expansion Participation in the NCEDC BR&E program Retail retention Participate in State s creative economy study 5

6 BE PROACTIVE ON ECONOMIC ISSUES Infrastructure investments that support economic health 392 Partnership Fort Collins-Loveland Airport NECO and Vine Stormwater improvements City Plan International Council of Shopping Centers Conference 6

7 BUILD PARTNERSHIPS Colorado State University Research Foundation Ventures Superclusters City/DDA priority projects Downtown hotel Community Marketplace NCEDC site selection inquiries Larimer County Workforce 7

8 BUSINESS COMMUNICATIONS Economic E-Newsletter 130+ businesses and local organizations featured in 2009 More than 800 subscribers Updated industry cluster profiles Available electronically, fcgov.com/business FortZED.com FortCollinsInnovation.com 8

9 DIVERSIFY THE ECONOMY 9

10 Business Innovation Model Pre-Incubation Incubation Retention Expansion Attraction Clean Energy Cluster Larimer Bioscience Cluster Water and Water Tech Cluster 10

11 CLEAN ENERGY CLUSTER Strategic Plan Retain and expand existing companies 1650 new primary jobs Attract/Incubate 6-8 new businesses per year Emphasis on Headquarters Companies Project of regional significance 1 per year CO State Land Board ex. Project of global significance in 5 years FortZed ex. 11

12 12 Clean Energy Employment

13 BIOSCIENCE CLUSTER 110 members by the end of major projects for 2010: Outsourcing Event in April/May Bioscience Asset Map Larimer Co. Bioscience Intern Website Marketing/Re-branding effort Monthly meetings - all members invited Completion of workforce study report 13

14 14 Bioscience Employment

15 SOFTWARE CLUSTER GIS Alley Quarterly Meetings Collaborative project with Center for Disease Control Software Tech Meet-Up Sponsoring four meetings Supports Entrepreneurship Larimer County Workforce Center Evaluation of Software Industry Cluster by Occupation 15

16 16 Hardware/Software Employment

17 UNIQUELY FORT COLLINS Be Local Northern Colorado Indoor Winter Markets & Coupon Book Shop Fort Collins First Spring into Action campaign Home for the Holidays (3CMA Award of Excellence 2009) Arts Incubator Physical space Leadership Promotion 17

18 Water Cluster Water Resource Management & Technology Cluster Evaluating the feasibility of a new cluster Kick-off meeting January 2010 Total Employees 4,209 Number of Firms 98 Average Wage approx. $77,000 Primarily Small Business - Three-quarters of firms employ 25 or fewer employees 18

19 MIDTOWN COMMERCIAL CORRIDOR STUDY Evaluate spectrum of redevelopment potentials for the Foothills Mall Evaluate College Ave. commercial from Prospect to Harmony (three districts) Consider focused improvement strategy at key locations along the corridor Emphasize preventing blight in a way that does not impede future redevelopment Presentation of draft findings & recommendations to Council: April 27, 2010 fcgov.com/midtown 19

20 DOWNTOWN RETAIL ANALYSIS Completed an analysis of downtown retail Retail sales by category Sales density mapping Inventory of commercial space Next Steps Downtown Top 20 Retailers Retail Retention Strategy (Coordinate with DDA and DBA) Retail Attraction Strategy 20

21 URA PROJECTS Revised/enhanced policies and procedures Benchmarking regional URAs Evaluation of new potential URA plan areas RMI2 and Kaufman groundbreaking events Staff support for North College CAG, NFCBA Project cameras to be installed this summer 21

22 22 CLOSING/QUESTIONS