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Item 4D AudioItem 4.DItem 4.D Business Business Retention & ExpansionRetention & Expansion Strategic PlanStrategic Plan Prepared by the Prepared by the Department of Economic DevelopmentDepartment of Economic Development Greg Last, DirectorGreg Last, Director Introduction Purpose of BRE PlanPurpose of BRE Plan ••Identify strength, weaknesses, Identify strength, weaknesses, opportunities, and threats for the diversity opportunities, and threats for the diversity of business types in the City (SWOT)of business types in the City (SWOT) ••Develop a focused strategy on work efforts Develop a focused strategy on work efforts that will provide the greatest return for the that will provide the greatest return for the businesses, resulting in a strong and businesses, resulting in a strong and sustainable nonsustainable non--residential tax baseresidential tax base ••Retain and grow existing businessesRetain and grow existing businesses Introduction CC Work Session March 3CC Work Session March 3 ••E.D. Dept. MissionE.D. Dept. Mission ••E.D. Dept. GoalsE.D. Dept. Goals ••Background DataBackground Data ••Planning PoliciesPlanning Policies ••Strategic Plan ProcessStrategic Plan Process Discussion Introduction E.D. Dept. MissionE.D. Dept. Mission MissionMission: To help create a diversified, : To help create a diversified, •• vibrant and vibrant and sustainable economy sustainable economy through attraction and support of through attraction and support of business enterprisesbusiness enterprisesmeeting the meeting the vision and standards desired by City vision and standards desired by City leadersleaders Work Session-1 Introduction E.D. Dept. GoalsE.D. Dept. Goals GoalsGoals:: •• Provide desirable services to residentsProvide desirable services to residents –– Retain and support existing businessesRetain and support existing businesses –– Attract desired businessesAttract desired businesses –– Market the CityMarket the City –– Maintain strategic data resourcesMaintain strategic data resources –– Nurture a positive business environmentNurture a positive business environment –– Promote tourism and the hotel and Promote tourism and the hotel and –– convention industry in the Cityconvention industry in the City Work Session-1 Introduction Background DataBackground Data 1,620 total businesses1,620 total businesses •• 8 million sf of commercial real estate8 million sf of commercial real estate •• 2,518,018 sf of office space2,518,018 sf of office space –– 1,685,146 sf of industrial / flex space1,685,146 sf of industrial / flex space –– 2,796,610 sf of retail space2,796,610 sf of retail space –– 941,570 sf of “other” commercial 941,570 sf of “other” commercial –– space (schools, warehouse, etc.)space (schools, warehouse, etc.) Work Session-1 Introduction Planning Policies / Recomm.Planning Policies / Recomm. Urban Design StudyUrban Design Study: Addresses : Addresses •• urban design issues for S.H. 114 , F.M. urban design issues for S.H. 114 , F.M. 1709, and F.M. 1938 1709, and F.M. 1938 2025 Plan2025 Plan: : •• Consolidated Land Use PlanConsolidated Land Use Plan –– Mobility and Master Thoroughfare PlanMobility and Master Thoroughfare Plan –– Parks, Recreation & Open Space PlanParks, Recreation & Open Space Plan –– Pathways and Sidewalk PlansPathways and Sidewalk Plans –– Work Session-1 Introduction Strategic Plan ProcessStrategic Plan Process Draft development by the E.D. staffDraft development by the E.D. staff •• Development community inputDevelopment community input •• Chamber of Commerce review and Chamber of Commerce review and •• contributionscontributions City Council considerationCity Council consideration •• Work Session-1 Introduction CC Work Session March 3CC Work Session March 3 City of SouthlakeProfessional Services E.D. DepartmentRetail Chamber of CommerceRestaurants Business CommunityManufacturing / Assembly Corporate InvolvementHospitality / Tourism Small Businesses Discussion SWOT Analyses City of SouthlakeCity of Southlake StrengthsStrengths: : •• School districts, demographics / executives, School districts, demographics / executives, –– proximity to airports, development standards, proximity to airports, development standards, Southlake Town Square, developer relationships, Southlake Town Square, developer relationships, master planned residential developmentmaster planned residential development WeaknessesWeaknesses: : •• Available land, labor for service, regional transit Available land, labor for service, regional transit –– plan, development process, lack of 4A/4B E.D. plan, development process, lack of 4A/4B E.D. sales tax, limited number of homes, development sales tax, limited number of homes, development processprocess Work Session-2Discussion SWOT Analyses City of SouthlakeCity of Southlake OpportunitiesOpportunities: : •• DFW 114 West Corridor brand enhancement, DFW 114 West Corridor brand enhancement, –– community events, DPS involvement, business / community events, DPS involvement, business / Council relationships, business lifecycle Council relationships, business lifecycle opportunitiesopportunities ThreatsThreats: : •• Competitive markets: Westlake, Roanoke, Competitive markets: Westlake, Roanoke, –– Lewisville, Coppell, Las Colinas, Irving, Plano, Lewisville, Coppell, Las Colinas, Irving, Plano, Frisco, Richardson, Alliance / DFW AirportsFrisco, Richardson, Alliance / DFW Airports Work Session-2Discussion SWOT Analyses E.D. Dept. ProgramsE.D. Dept. Programs StrengthsStrengths: : •• www.SouthlakeBusinesses.comwww.SouthlakeBusinesses.com, Shopping & , Shopping & –– Dining Guide, Local Business Report, DFW 114 Dining Guide, Local Business Report, DFW 114 West Corridor marketing emphasis, Director’s West Corridor marketing emphasis, Director’s tenure with businessestenure with businesses WeaknessesWeaknesses: : •• NonNon--core staff responsibilities, lack of business core staff responsibilities, lack of business –– visitations and retention emphasis, ribbonvisitations and retention emphasis, ribbon--cutting cutting attendance, lack of BRE incentive programattendance, lack of BRE incentive program Work Session-2Discussion SWOT Analyses E.D. Dept. ProgramsE.D. Dept. Programs OpportunitiesOpportunities: : •• Website enhancements, Hotel Occupancy Tax Website enhancements, Hotel Occupancy Tax –– programs supporting businessesprograms supporting businesses ThreatsThreats: : •• Staffing turnoverStaffing turnover –– Work Session-2Discussion SWOT Analyses Southlake Chamber of CommerceSouthlake Chamber of Commerce StrengthsStrengths: : •• City staff relationships, ambassadors, service City staff relationships, ambassadors, service –– involvement, Leadership Southlake, networking involvement, Leadership Southlake, networking opportunities, award programs, community opportunities, award programs, community marketing, golf tourney, Oktoberfestmarketing, golf tourney, Oktoberfest WeaknessesWeaknesses: : •• Retail roundtable, restaurant roundtable, retail Retail roundtable, restaurant roundtable, retail –– involvement, manufacturing / assembly / involvement, manufacturing / assembly / distribution involvementdistribution involvement Work Session-2Discussion SWOT Analyses Southlake Chamber of CommerceSouthlake Chamber of Commerce OpportunitiesOpportunities: : •• Board / Council relationships, DFW 114 West Board / Council relationships, DFW 114 West –– Corridor collaborative marketing, regional Corridor collaborative marketing, regional marketing and promotion, legislative affairsmarketing and promotion, legislative affairs ThreatsThreats: : •• Economic downturnEconomic downturn –– Work Session-2Discussion SWOT Analyses Business CommunityBusiness Community StrengthsStrengths: : •• Business executive involvement, business diversity Business executive involvement, business diversity –– increasing, Southlake Town Square success, selected increasing, Southlake Town Square success, selected banking supportbanking support WeaknessesWeaknesses: : •• Shortage of primary businesses, saturation of banks, Shortage of primary businesses, saturation of banks, –– slowing residential growthslowing residential growth OpportunitiesOpportunities: : •• Merchant associations, Council / business meetingsMerchant associations, Council / business meetings –– ThreatsThreats: : •• Westlake, Northwest Metroport businesses, overWestlake, Northwest Metroport businesses, over-- –– development of retaildevelopment of retail Work Session-2Discussion SWOT Analyses Corporate InvolvementCorporate Involvement StrengthsStrengths: : •• Sabre involvement, small business owners, Sabre involvement, small business owners, –– regional involvementregional involvement WeaknessesWeaknesses: : •• Limited involvementLimited involvement –– OpportunitiesOpportunities: : •• Corporate / City relationships, Southlake Corporate / City relationships, Southlake –– executives, small business industry groupsexecutives, small business industry groups ThreatsThreats: : •• Westlake, AllianceWestlake, Alliance –– Work Session-2Discussion SWOT Analyses Small BusinessesSmall Businesses StrengthsStrengths: : •• Principle’s involvement, Chamber networking Principle’s involvement, Chamber networking –– opportunitiesopportunities WeaknessesWeaknesses: : •• Banking relationships, financial sophistication, lack Banking relationships, financial sophistication, lack –– of franchise / corporate structureof franchise / corporate structure OpportunitiesOpportunities: : •• Mentoring / nurturing programs, business blogs, Mentoring / nurturing programs, business blogs, –– business resource centerbusiness resource center ThreatsThreats: : •• StartStart--up durationup duration –– Work Session-2Discussion SWOT Analyses Professional Service BusinessesProfessional Service Businesses StrengthsStrengths: : •• Chamber participation, medicalChamber participation, medical –– WeaknessesWeaknesses: : •• Bank saturation, focus groupsBank saturation, focus groups –– OpportunitiesOpportunities: : •• Financial services involvement, law firmsFinancial services involvement, law firms –– ThreatsThreats: : •• Saturation beyond demandSaturation beyond demand –– Work Session-2Discussion SWOT Analyses Retail BusinessesRetail Businesses StrengthsStrengths: : •• Regional retail market, isolated involvementRegional retail market, isolated involvement –– WeaknessesWeaknesses: : •• Retail involvement in Chamber, labor poolRetail involvement in Chamber, labor pool –– OpportunitiesOpportunities: : •• Develop tourism programs supporting retail, Develop tourism programs supporting retail, –– furniture cluster cooperation, roundtable forumsfurniture cluster cooperation, roundtable forums ThreatsThreats: : •• OverOver--development of retail, Westlake, Colleyvilledevelopment of retail, Westlake, Colleyville –– Work Session-2Discussion SWOT Analyses RestaurantsRestaurants StrengthsStrengths: : •• Restaurant diversity, Shopping & Dining Guide, Restaurant diversity, Shopping & Dining Guide, –– catering summary, regional attractioncatering summary, regional attraction WeaknessesWeaknesses: : •• MomMom--nn--Pop restaurants, residential densities, lack Pop restaurants, residential densities, lack –– of national franchise involvement, restaurant of national franchise involvement, restaurant closingsclosings Work Session-2Discussion SWOT Analyses RestaurantsRestaurants OpportunitiesOpportunities: : •• Restaurant forum, website enhancements, casual Restaurant forum, website enhancements, casual –– family restaurantsfamily restaurants ThreatsThreats: : •• OverOver--development of restaurantsdevelopment of restaurants –– Work Session-2Discussion SWOT Analyses Manufacturing / Assembly / Manufacturing / Assembly / DistributionDistribution StrengthsStrengths: : •• Airport adjacency, highway / rail access, existing Airport adjacency, highway / rail access, existing –– business parksbusiness parks WeaknessesWeaknesses: : •• Limited number of businesses, lack of tripleLimited number of businesses, lack of triple-- –– freeport, limited political support, employment freeport, limited political support, employment basebase Work Session-2Discussion SWOT Analyses Manufacturing / Assembly / Manufacturing / Assembly / DistributionDistribution OpportunitiesOpportunities: : •• More business engagement, targeted forum More business engagement, targeted forum –– groups, Champion Crossing, match market groups, Champion Crossing, match market analysis, adopt tripleanalysis, adopt triple--freeportfreeport ThreatsThreats: : •• DFW Airport development, Alliance developmentDFW Airport development, Alliance development –– Work Session-2Discussion SWOT Analyses Hospitality / Hotel / TourismHospitality / Hotel / Tourism StrengthsStrengths: : •• Airport adjacency, Hotel / City / Staff relationshipsAirport adjacency, Hotel / City / Staff relationships –– WeaknessesWeaknesses: : •• Breadth and diversity of hotels, tourism Breadth and diversity of hotels, tourism –– destinations, tourism programs, convention destinations, tourism programs, convention venuevenue OpportunitiesOpportunities: : •• Hotel occupancy tax programs, additional hotels, Hotel occupancy tax programs, additional hotels, –– regional tourismregional tourism ThreatsThreats: : •• Regional hotelsRegional hotels –– Work Session-2Discussion SWOT Analyses % Developed Analysis% Developed Analysis Discussion % Developed Analysis% Developed Analysis 67% of the City is designated for low and medium 67% of the City is designated for low and medium •• density residential uses density residential uses 87% of this property is developed87% of this property is developed –– 9% of the City is designated for Mixed Use9% of the City is designated for Mixed Use •• 36% of this property is developed 36% of this property is developed –– 4% of the City is designated for retail uses (Town 4% of the City is designated for retail uses (Town •• Center, Retail Commercial, Regional Retail)Center, Retail Commercial, Regional Retail) 82% of this property is developed82% of this property is developed –– 3% of the City is designated for office uses3% of the City is designated for office uses •• 60% of this property is developed60% of this property is developed –– 3% of the City is designated for industrial uses3% of the City is designated for industrial uses •• 69% of this property is developed69% of this property is developed –– Discussion Strategic RecommendationsStrategic Recommendations 1.1.Focus on core responsibilitiesFocus on core responsibilities 2.2.Develop business visitation programDevelop business visitation program a.a.Visit all businesses within a threeVisit all businesses within a three--year year cyclecycle b.b.Verify accuracy of business dataVerify accuracy of business data c.c.Identify obstacles to success and Identify obstacles to success and opportunities for assistanceopportunities for assistance Discussion Strategic RecommendationsStrategic Recommendations 3.3.Implement Monthly Local Business Implement Monthly Local Business ReportReport a.a.Allow 12 businesses to get critical Allow 12 businesses to get critical exposureexposure b.b.Recognize Chamber of Commerce award Recognize Chamber of Commerce award recipientsrecipients Discussion Strategic RecommendationsStrategic Recommendations 4.4.Increase staffing dedicated to Hotel Increase staffing dedicated to Hotel Occupancy tax administrationOccupancy tax administration a.a.Hire dedicated staff to administer HOTHire dedicated staff to administer HOT b.b.Develop programs supporting tourism, Develop programs supporting tourism, hotel and convention businesseshotel and convention businesses c.c.Develop programs supporting retailDevelop programs supporting retail d.d.Develop programs supporting Develop programs supporting restaurantsrestaurants Discussion Strategic RecommendationsStrategic Recommendations 5.5.Strengthen City / Chamber relationshipsStrengthen City / Chamber relationships a.a.Identify and pursue partnership Identify and pursue partnership opportunities for the Southlake opportunities for the Southlake Chamber of Commerce and City E.D. Chamber of Commerce and City E.D. staff to work togetherstaff to work together b.b.Develop opportunities for the Southlake Develop opportunities for the Southlake City Council to engage and interact City Council to engage and interact with the Southlake Chamber Board of with the Southlake Chamber Board of DirectorsDirectors Discussion Strategic RecommendationsStrategic Recommendations 6.6.Strengthen City / Corporate Alliance Strengthen City / Corporate Alliance relationshipsrelationships a.a.Utilizing the City / Sabre relationship Utilizing the City / Sabre relationship model, develop a Southlake Business model, develop a Southlake Business Council ProgramCouncil Program Discussion DiscussionDiscussion Greg Last, DirectorGreg Last, Director (817) 748(817) 748--80378037 Work Session –1Professional Service City of SouthlakeRetail E.D. Dept.Restaurant Chamber of CommerceManufacturing / Assembly Business CommunityHospitality Corporate% Developed Small BusinessRecommendations