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Item 16 - ED Plan presentation August 18, 2016 Proposed Southlake 2035 Economic Development Master Plan Background Community Enhancement Development Corporation SOUTHLAKE 2035 ECONOMIC DEVELOPMENT PLAN The City of Southlake provides municipal services that support the highest quality of life for our residents, businesses, and visitors. We do this by being an exemplary model of balancing efficiency, fiscal responsibility, transparency, and sustainability. DOFA ELIVERONUROCUSREAS C RITICAL Mobility Safety & Quality InfrastructurePerformance Partnerships & Security Development Management & Volunteerism BO USINESSUTCOMES Service Delivery CBO1 –Maintain a CBO4 –Optimize the strong financial City’s commercial tax Serve our Customers position and base by attracting high C1 Achieve the C1 Achieve the C6 Enhance the sense ofC6 Enhance the sense of implement plans and quality new businesses C4 Attract & keep topC4 Attract & keep top-- C2 Provide travel C2 Provide travel C3 Provide attractive C3 Provide attractive C5 Promote C5 Promote highest standards highest standards community by providing community by providing excellent excellent tier businesses to drive a tier businesses to drive a convenience convenience & unique spaces for & unique spaces for opportunities for opportunities for policies to ensure to reduce the tax of safety & of safety & customer customer service and service and citizen citizen dynamic & sustainable dynamic & sustainable within City & within City & enjoyment of enjoyment of partnerships & partnerships & future financial burden on residential securitysecurityengagement opportunitiesengagement opportunities economic environmenteconomic environment regionregion personal interestspersonal interestsvolunteer involvementvolunteer involvement strength.taxpayers. CBO2–Enhance CBO5 –Improve the Business Manage mobility through quality of life through B2 Collaborate with B2 Collaborate with B4 Provide high B4 Provide high B1 Achieve bestB1 Achieve best-- aggressive traffic progressive B3 Enhance resident B3 Enhance resident B5 Enhance service B5 Enhance service select partners to select partners to quality services quality services B6 Optimize use B6 Optimize use inin--class status in class status in quality of life & business quality of life & business delivery through continual delivery through continual management implementation of implement service implement service through sustainable through sustainable of technologyof technology all City disciplinesall City disciplines vitality through tourismvitality through tourismprocess improvementprocess improvement initiatives and capital Southlake’s solutionssolutions business practicesbusiness practices project Comprehensive Plan implementation.recommendations. Provide Financial Stewardship CBO3 –Engage in CBO6 –Invest to FF2 Invest to provide & maintain high quality 2 Invest to provide & maintain high quality FF4 Establish & maintain effective 4 Establish & maintain effective FF1 Adhere to financial management 1 Adhere to financial management FF3 Achieve fiscal wellness 3 Achieve fiscal wellness thoughtful planning maintain strong public public assetspublic assetsinternal controlsinternal controls principles & budgetprinciples & budget standardsstandards to ensure continued safety to ensure a low high quality crime rate and development that is effective emergency Promote Learning and Growth integrated well into response. L1 Ensure our people L1 Ensure our people L2 Enhance leadership L2 Enhance leadership L3 Attract, develop & L3 Attract, develop & L6 Foster positive L6 Foster positive L5 Empower informed L5 Empower informed understand the understand the the current built L4 Recognize & reward L4 Recognize & reward capabilities to deliver capabilities to deliver retain a skilled retain a skilled employee employee decisiondecision--making at all making at all strategy & how they strategy & how they high performershigh performers environment. resultsresults workforceworkforceengagementengagement levels in the organizationlevels in the organization contribute to itcontribute to it Vision, Goal & Objectives Vision Statement Southlake will continue to enhance its status as a desirable, attractive, safe, healthy and fiscally-sound community with quality neighborhoods, while maintaining a high standard of living, learning, shopping, working, recreation, and open spaces. Southlake will continue to be a vibrant community that epitomizes both economic and environmental sustainability. SOUTHLAKE 2035 ECONOMIC DEVELOPMENT PLAN ED Plan Strategies  Enhancement of tax base  Improved business climate  Implementation of policies to meet objectives  Recruitment of target industries  Expansion and retention of existing businesses  Assistance in the startup of new businesses  Strategic communication and marketing NR ICHEETAIL O FFICE MH EDICALANDEALTHCARE F, IWM INANCENSURANCEANDEALTHANAGEMENT ITM NFORMATIONECHNOLOGYANDEDIA BP IOTECHNOLOGYANDHARMACEUTICALS TARGET INDUSTRIES 4 Areas of Focus •Sec. 3-Southlake Market •Sec. 4 -Economic Incentives •Sec. 5 -Business Retention and Expansion •Sec. 6 -Citizen and Community Engagement SOUTHLAKE 2035 ECONOMIC DEVELOPMENT & TOURISM ADVISORY BOARD GIS Based Multimedia Customer Relationship Management Tool Daytime Population Target Industries Southlake’s market and economic position Small Area Planning SUMMARY -SOUTHLAKE MARKET RECOMMENDATIONS Strategic Investment of Public Funds Funding Economic Development Goals Public Investment Monitoring and Reporting SUMMARY –ECONOMIC INCENTIVE RECOMMENDATIONS Business Owners/Employers Business Community Alternative Mode of Transportation Commercial Centers SUMMARY –BRE RECOMMENDATIONS Communication –Exceed Industry Standards Promote Awareness of ED Activities SUMMARY –CITIZEN AND COMMUNITY ENGAGEMENT RECOMMENDATIONS CEDC Recommendation •June 28, 2016 -The CEDC approve (7-0) the proposed Southlake 2035 Economic Development Master Plan as presented. Questions Vision, Goal & Objectives Objective 6.6Develop a clear and understandable incentive policy that accomplishes the business attraction and retention goals of the City and is based on factors such as job creation, investment, quality of business, return on investment and overall value to the community. Objective 6.7Foster communications between the public and private sectors. SOUTHLAKE 2035 ECONOMIC DEVELOPMENT & TOURISM ADVISORY BOARD