Community and Economic Development Briefing

Transcription

1 Community and Economic Development Briefing

2 What is Community Development? Community development is the process of making the community a better place to live and work and occurs primarily in the public sector Economic development is the process of creating wealth, in which community benefits are created secondarily To have a vibrant local economy, a community needs both community development and economic development.

3 Community Development Destination Development Live Work Play Node- Specific Revitalization Affordable Housing Programs

4 Direct: Live Affordable housing programs First time home buyer programs Home rehabilitation programs Indirect Sidewalks Parks Trails

5 Work Attract businesses Partner with airport/ 30-year plan Partner with local businesses to supply a jobready workforce Workforce development

6 Play Unique dining destinations Expanding opportunities for shopping Creating more recreational facilities for entertainment Events/Festivals

7 Node-Specific Revitalization Located in the business districts Pre-development Quality of life planning Community engagement Business engagement Partner engagement All public facility and infrastructure activities that are also eligible under the Private Category Ex. Loans to businesses Façade Renovation Historic restoration, rehabilitation and preservation for physical structures and infrastructure where appropriate

8 Affordable Housing Programs Housing programs could include home buyer programs, owner occupied rehabilitation programs, non-profit operating assistance and rental housing Local housing partners include: INHP Fair Housing Center of Central Indiana Greater Indy Habitat for Humanity Indianapolis Housing Agency Renew Indianapolis Indy Gateway s role will be to partner with existing non-profit organizations and leverage private financing to provide for affordable, decent, safe and appropriate housing, and increase homeownership/owner-occupied housing, as a part of balanced economic development in Indianapolis Bring the services of these existing non-profits to the west side If needed, develop programs to meet specific housing needs

9 Economic Development

10 What is Economic Development? Process that leads to creation and growth of businesses, jobs, and communities Measurable criteria: quantity, quality, sustainability and geographic location Focus on businesses and jobs in primary industry Local perspective is not always the same as the statewide perspective

11 Defining Projects in which to Invest Primary Project Investment New primary jobs generate new secondary jobs Make strategic public investments Primary Jobs Where goods or services are manufactured by workers on the west side and can be sold throughout the country, bringing in dollars from around the word Create new wealth Includes research and development funded by federal and international sources Secondary Jobs Where goods and services manufactured by workers on the west side are sold locally or regionally Smaller businesses that support the daily influx of primary workers (i.e. retail, restaurants professional services etc.)

12 Business Retention and Expansion Retention and expansion is a strategy to work with existing businesses Interview business leaders on business climate Demonstrate appreciation of business to local economy Identify opportunities for growth and expansion Help existing businesses solve problems

13 Business Recruitment Actively recruit new businesses for increased investment and employment opportunities Activities: Working with IACED to develop enhanced understanding of west side and benefits as well as how to market them to businesses Focused efforts on targeted industries National/International recruitment Working with prospects Help define prospective location criteria, timetable and expectations of clients Provide Request for Information (RFI) to selected communities that meet criteria

14 Industry Cluster Near Airport Industry Cluster Initiative Goal is to move the represented industry sector up the value curve for increased value of goods and services Main focus will be placed on manufacturing and transportation/logistics due to the benefits provided by the airport Objectives Utilize intermodal area with air, train and road transportation Private sector driven Address common needs of firms in a cluster from workforce development to technical assistance to market access Better organize and focus economic development services to advance competitive industries Enable more broad-based initiatives to engage local school districts, colleges and universities to address industry needs and opportunities

15 International Trade and Development Import/Export assistance Business recruitment Promote international partnerships New-to-export consulting Trade missions

16 Why Indy Gateway? Better positioned for economic development opportunities Identified and documented as ready for economic development Marketed to business and industry

17 The case for Indy Gateway Wayne Township has the largest low-income area outside of Center Township and currently has less desirable housing stock than competing neighborhoods throughout Marion County Marion County s suburban neighborhoods on the west side are experiencing the flight of national retailers and poverty driven challenges in their school districts Wayne Township schools have seen an increase in students qualifying for federal assistance for school lunches, jumping from 53.5% to 77.5% The west side of Indianapolis is greatly in need of this community saving assistance

18 Indy Gateway's Goals Strive to create community and economic growth Make the West Side a better place to live, work, play and grow a business

19 Accomplished by focusing efforts on: Aggressive community development Business retention and expansion New business attraction New business creation Promoting our great city Particularly the west side Special emphasis on the creation of new primary jobs and wealth creation

20 Marketing Indy Gateway In-State, Nationally and Internationally Promoting Opportunities- Quality of life/place and cost of living Business retention, expansion and recruitment Entrepreneurship Great Schools People retention and recruitment Jobs Strong social media presence through Facebook, Twitter and Instagram

21 Evaluating Indy Gateway Impact Successful economic development initiatives should: Grow stronger communities by supporting solid public infrastructure and high quality, affordable housing options that stimulate long-term community sustainability and future economic growth Stimulate creation and retention of high quality primary employment opportunities that improve per capita incomes and lead to a better quality of life for residents on the west side Generate additional wealth creation potential for Indianapolis residents Attract human and financial capital from out of state Grow a readily-available, top quality, skilled workforce to meet the ever-changing needs of business and industry, thereby retaining Indianapolis's best and brightest youth and attracting additional workforce and population for our communities

22 Questions?