Item 4DItem 4.D Business Retention & Expansion Strategic Plan
Prepared by the
Department of Economic Development
Greg Last, Director
Introduction
Purpose of BRE Plan
Identify strength, weaknesses, opportunities, and threats for the diversity of business types in the City (SWOT)
Develop a focused strategy on work efforts that will provide the greatest return for the businesses, resulting in a strong and sustainable non-residential tax base
Retain and grow existing businesses
Introduction
CC Work Session March 3
E.D. Dept. Mission
E.D. Dept. Goals
Background Data
Planning Policies
Strategic Plan Process
Introduction
Discussion
E.D. Dept. Mission
Mission: To help create a diversified, vibrant and sustainable economy through attraction and support of business enterprises meeting the vision and standards desired by City leaders
Introduction
Work Session-1
E.D. Dept. Goals
Goals:
Provide desirable services to residents
Retain and support existing businesses
Attract desired businesses
Market the City
Maintain strategic data resources
Nurture a positive business environment
Promote tourism and the hotel and convention industry in the City
Introduction
Work Session-1
Background Data
1,620 total businesses
8 million sf of commercial real estate
2,518,018 sf of office space
1,685,146 sf of industrial / flex space
2,796,610 sf of retail space
941,570 sf of “other” commercial space (schools, warehouse, etc.)
Introduction
Work Session-1
Planning Policies / Recomm.
Urban Design Study: Addresses urban design issues for S.H. 114 , F.M. 1709, and F.M. 1938
2025 Plan:
Consolidated Land Use Plan
Mobility and Master Thoroughfare Plan
Parks, Recreation & Open Space Plan
Pathways and Sidewalk Plans
Introduction
Work Session-1
Strategic Plan Process
Draft development by the E.D. staff
Development community input
Chamber of Commerce review and contributions
City Council consideration
Introduction
Work Session-1
CC Work Session March 3
SWOT Analyses
Discussion
City of Southlake
Strengths:
School districts, demographics / executives, proximity to airports, development standards, Southlake Town Square, developer relationships, master planned residential development
Weaknesses:
Available land, labor for service, regional transit plan, development process, lack of 4A/4B E.D. sales tax, limited number of homes, development process
SWOT Analyses
Discussion
Work Session-2
City of Southlake
Opportunities:
DFW 114 West Corridor brand enhancement, community events, DPS involvement, business / Council relationships, business lifecycle opportunities
Threats:
Competitive markets: Westlake, Roanoke, Lewisville, Coppell, Las Colinas, Irving, Plano, Frisco, Richardson, Alliance / DFW Airports
SWOT Analyses
Discussion
Work Session-2
E.D. Dept. Programs
Strengths:
www.SouthlakeBusinesses.com, Shopping & Dining Guide, Local Business Report, DFW 114 West Corridor marketing emphasis, Director’s tenure with businesses
Weaknesses:
Non-core staff responsibilities, lack of business visitations and retention emphasis, ribbon-cutting attendance, lack of BRE incentive program
SWOT Analyses
Discussion
Work Session-2
E.D. Dept. Programs
Opportunities:
Website enhancements, Hotel Occupancy Tax programs supporting businesses
Threats:
Staffing turnover
SWOT Analyses
Discussion
Work Session-2
Southlake Chamber of Commerce
Strengths:
City staff relationships, ambassadors, service involvement, Leadership Southlake, networking opportunities, award programs, community marketing, golf tourney, Oktoberfest
Weaknesses:
Retail roundtable, restaurant roundtable, retail involvement, manufacturing / assembly / distribution involvement
SWOT Analyses
Discussion
Work Session-2
Southlake Chamber of Commerce
Opportunities:
Board / Council relationships, DFW 114 West Corridor collaborative marketing, regional marketing and promotion, legislative affairs
Threats:
Economic downturn
SWOT Analyses
Discussion
Work Session-2
Business Community
Strengths:
Business executive involvement, business diversity increasing, Southlake Town Square success, selected banking support
Weaknesses:
Shortage of primary businesses, saturation of banks, slowing residential growth
Opportunities:
Merchant associations, Council / business meetings
Threats:
Westlake, Northwest Metroport businesses, over-development of retail
SWOT Analyses
Discussion
Work Session-2
Corporate Involvement
Strengths:
Sabre involvement, small business owners, regional involvement
Weaknesses:
Limited involvement
Opportunities:
Corporate / City relationships, Southlake executives, small business industry groups
Threats:
Westlake, Alliance
SWOT Analyses
Discussion
Work Session-2
Small Businesses
Strengths:
Principle’s involvement, Chamber networking opportunities
Weaknesses:
Banking relationships, financial sophistication, lack of franchise / corporate structure
Opportunities:
Mentoring / nurturing programs, business blogs, business resource center
Threats:
Start-up duration
SWOT Analyses
Discussion
Work Session-2
Professional Service Businesses
Strengths:
Chamber participation, medical
Weaknesses:
Bank saturation, focus groups
Opportunities:
Financial services involvement, law firms
Threats:
Saturation beyond demand
SWOT Analyses
Discussion
Work Session-2
Retail Businesses
Strengths:
Regional retail market, isolated involvement
Weaknesses:
Retail involvement in Chamber, labor pool
Opportunities:
Develop tourism programs supporting retail, furniture cluster cooperation, roundtable forums
Threats:
Over-development of retail, Westlake, Colleyville
SWOT Analyses
Discussion
Work Session-2
Restaurants
Strengths:
Restaurant diversity, Shopping & Dining Guide, catering summary, regional attraction
Weaknesses:
Mom-n-Pop restaurants, residential densities, lack of national franchise involvement, restaurant closings
SWOT Analyses
Discussion
Work Session-2
Restaurants
Opportunities:
Restaurant forum, website enhancements, casual family restaurants
Threats:
Over-development of restaurants
SWOT Analyses
Discussion
Work Session-2
Manufacturing / Assembly / Distribution
Strengths:
Airport adjacency, highway / rail access, existing business parks
Weaknesses:
Limited number of businesses, lack of triple-freeport, limited political support, employment base
SWOT Analyses
Discussion
Work Session-2
Manufacturing / Assembly / Distribution
Opportunities:
More business engagement, targeted forum groups, Champion Crossing, match market analysis, adopt triple-freeport
Threats:
DFW Airport development, Alliance development
SWOT Analyses
Discussion
Work Session-2
Hospitality / Hotel / Tourism
Strengths:
Airport adjacency, Hotel / City / Staff relationships
Weaknesses:
Breadth and diversity of hotels, tourism destinations, tourism programs, convention venue
Opportunities:
Hotel occupancy tax programs, additional hotels, regional tourism
Threats:
Regional hotels
SWOT Analyses
Discussion
Work Session-2
% Developed Analysis
Discussion
% Developed Analysis
67% of the City is designated for low and medium density residential uses
87% of this property is developed
9% of the City is designated for Mixed Use
36% of this property is developed
4% of the City is designated for retail uses (Town Center, Retail Commercial, Regional Retail)
82% of this property is developed
3% of the City is designated for office uses
60% of this property is developed
3% of the City is designated for industrial uses
69% of this property is developed
Discussion
Strategic Recommendations
Focus on core responsibilities
Develop business visitation program
Visit all businesses within a three-year cycle
Verify accuracy of business data
Identify obstacles to success and opportunities for assistance
Discussion
Strategic Recommendations
3. Implement Monthly Local Business Report
Allow 12 businesses to get critical exposure
Recognize Chamber of Commerce award recipients
Discussion
Strategic Recommendations
4. Increase staffing dedicated to Hotel Occupancy tax administration
Hire dedicated staff to administer HOT
Develop programs supporting tourism, hotel and convention businesses
Develop programs supporting retail
Develop programs supporting restaurants
Discussion
Strategic Recommendations
5. Strengthen City / Chamber relationships
Identify and pursue partnership opportunities for the Southlake Chamber of Commerce and City E.D. staff to work together
Develop opportunities for the Southlake City Council to engage and interact with the Southlake Chamber Board of Directors
Discussion
Strategic Recommendations
6. Strengthen City / Corporate Alliance relationships
Utilizing the City / Sabre relationship model, develop a Southlake Business Council Program
Discussion
Discussion
Greg Last, Director
(817) 748-8037