Economic Development Strategic Framework and Action Plan
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1 Economic Development Strategic Framework and Action Plan City of Tacoma Community And Economic Development Department Ricardo Noguera, Director City Council Study Session February 12, 2013
2 Economic Development Strategic Framework A five-year Plan for the City & Its Partners 1. Central City, Dome & Brewery Districts 2. Small Business Development & Entrepreneurship Services 3. Waterfront Development 4. Port of Tacoma & Industrial Districts 5. Business District & Neighborhood Revitalization 6. Workforce Development 7. Arts, Culture, Tourism & Hospitality Initiatives 8. Professional and Business Friendly Government 2
3 Outreach Neighborhood Business Districts Tacoma Regional Convention & Visitors Bureau University of Puget Sound Tacoma South Sound Sports Executive Council for a Greater Tacoma Tacoma-Pierce County Chamber of Commerce Workforce Central Economic Development Board Pierce County Economic Development Department World Trade Center Tacoma Go Local Tacoma The Port of Tacoma University of Washington Tacoma 3
4 Central City, Dome & Brewery Districts Focus: Prioritize infrastructure improvements associated with privately-financed catalytic projects and market high priority sites for development. Brown & Haley 4
5 Small Business Development & Entrepreneurship Services Focus: Support entrepreneurship and small business development and partner with higher learning institutions, technical schools and JBLM. 5
6 Waterfront Development Focus: Target infrastructure and capital investments. Partner with developers and property owners to revitalize and support commercial and recreational activities. Thea s Landing 6
7 Port of Tacoma & Industrial Districts Focus: Strengthen relationship with Port and assist with recruitment. Retain and expand industrial firms in the South Tacoma area. Port of Tacoma Bradken Foundry 7
8 Business District And Neighborhood Revitalization Focus: Strengthen business districts to maximize revenue, including pedestrian amenities and transportation systems. Support reuse of existing buildings and infill development. Hong Kong Supermarket Masonic Lodge 8
9 Workforce Development Focus: Strengthen the quality and competitiveness of Tacoma s workforce. Partner with higher learning and workforce institutions. UW Tacoma Bates Technical College 9
10 Arts, Culture, Tourism & Hospitality Initiatives Focus: Position Tacoma as a Destination City. Partner with Convention & Visitors Bureau, Chamber, and arts organizations to promote arts, culture and events. Welcome Figure Steven Miller Museum of Glass 10
11 Professional and Business Friendly Government Focus: Foster a more business friendly environment with ombudsperson services and a professional, courteous, and stream-lined development review process demonstrating Tacoma Means Business. 11
12 Action Plan Key Elements 1. Business Attraction, Expansion & Retention 2. Small Business Development & Entrepreneurship Services 3. International Development & Relationships 4. Downtown Development & Revitalization 5. Neighborhood Revitalization More specific areas of focus to be implemented over next 18 months. 12
13 Business Attraction, Expansion & Retention Focus: Address fiscal and local economic challenges by growing the tax base attracting, expanding and retaining industrial, regional, national, downtown and auto dealers throughout the City. 13
14 Small Business Development & Entrepreneurship Services Focus: Partner with agencies and community partners, providing technical workshops and events to support development of entrepreneurs and small businesses throughout the City. Dwelling, Downtown Tacoma Bike, Dome District 14
15 International Development & Relationships Focus: Work with the Port, World Trade Center and Sister Cities to enhance cultural relationships and foreign investment opportunities. Tacoma s Sister Cities Program World Trade Center 15
16 Downtown Development & Revitalization Focus: Pro-actively market investment opportunities in Downtown, Hilltop, Foss Waterway, Dome and Brewery districts to establish a vibrant 24-hour community. McMenamins 16
17 Neighborhood Revitalization Focus: Promote infill development, retail attraction and infrastructure improvements to enhance pedestrian-oriented business districts serving neighborhoods throughout the City. Mountaineers Center Old Town 17
18 Partners CHAMBER WTC GO LOCAL TRCVB TPC SPORTS COMMISSION EDB PORT OF TACOMA CED WORKFORCE CENTRAL PIERCE COUNTY FARMERS MARKETS BATES CDA/NBDS EXECUTIVE COUNCIL 18 18
19 New Activities in 2013: 19
20 New Companies in Neighborhood Business Districts 124 N. Tacoma Ave 3816 Yakima Ave 20
21 New Companies in Neighborhood Business Districts th Ave th Ave 21
22 Addition of Regional Retailers 1015 N. Pearl St Tacoma Mall Blvd. I-5/S. 72 nd St. S. 23 rd St/Union 22
23 Arrival of Major Employers Downtown State Farm Insurance Co. 909 A Street Columbia Bank Center 1301 A Street 23
24 Medical Office Expansions Hilltop Regional Health Center, 1202 Martin Luther King Jr. Way 24
25 Franciscan, Rainier Pavilion Rainier Pavilion Tacoma Multi-Care 315 Martin Luther King Jr. Way Franciscan Health System 1717 S. J Street 25
26 New Developments The Henry, 1933 Dock Street, a 161 unit apartment complex. 26
27 New Developments The Metropolitan Holiday Inn Express 27
28 AND 2013 IS NOT OVER! TACOMA IS ON THE MOVE! 28
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