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Regional Asset Development 1. Mission of the RAD TAG Identify best practices and tools to assist the regional partners in their ability to identify, evaluate.

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Presentation on theme: "Regional Asset Development 1. Mission of the RAD TAG Identify best practices and tools to assist the regional partners in their ability to identify, evaluate."— Presentation transcript:

1 Regional Asset Development 1

2 Mission of the RAD TAG Identify best practices and tools to assist the regional partners in their ability to identify, evaluate and reserve land and buildings for the expansion and attraction of primary employers. 2

3 What is a primary employer? A business creating a product or service that is principally sold outside of a region, thereby generating new money and profits into the region. 3 Examples include manufacturing, service centers, corporate headquarters, distribution facilities and research and development.

4 Why are Primary Jobs Important? They create the disposable income that allows development of retail, entertainment and service sectors (consumptive businesses). “To grow an economy you must create more primary sector jobs which pay a wage higher than the area average wage.” Retailers will follow people getting paid 4 The Flow of Money 2014, Policom Corporation

5 Importance of Real Estate In order for an existing company to expand, a new employer to move to an area or a start-up business to grow: They need real estate! “Absent available, improved, approved real estate for primary employers, a local economy will decline.” 1 5 The Flow of Money 2014, William Fruth; Policom Corporation

6 Economic Development is ultimately a real estate transaction “The most important issue relative to the site selection process is having an actual site” All of the other geographic issues… taxes, transportation, utilities, labor, quality of life, etc. … are not considered if a place to operate cannot be provided. 6 The Flow of Money 2014, William Fruth; Policom Corporation

7 Factors impacting Private Sector Employment Growth 7 Bluestone, Barry, What makes working cities work? Key Factors in Urban Economic Growth, Federal Reserve Bank of Boston, Community Development Issue Brief 3, 2014 “Available development sites” was the most highly correlated factor

8 Importance of Cooperation Land use decisions cannot be made in isolation What makes sense to one party may hamper opportunities for land use to another Example: Schools vs. Industry Regional considerations: Local decisions have regional impact. Regional decision have local impact. 8

9 Planning vs. Actual Use Comprehensive Plan2014 Existing Land Use McCall Road Corridor vs.

10 Encroachment 10 Opportunities arose which generated development different than the Comprehensive Plan The resulting development of commercial and retail has reduced the ability of a primary employer to grow at its existing site

11 11 Conflicting Intent? 2014 Comprehensive Plan 2014 Existing Land Use / Zoning Eureka Valley – Highway K-18 Corridor

12 Mixed Use or “Mis”use? 12 Steel & Pipe Supply Company, Inc. 3 rd & Osage

13 What does “Available Development Sites” mean… Sites protected from encroachment Sites created through a strategy for repurposing existing buildings Up-to-date list of commercial and industrial sites available to commercial brokers and developers. 13 Bluestone, Barry, What makes working cities work? Key Factors in Urban Economic Growth, Federal Reserve Bank of Boston, Community Development Issue Brief 3, 2014

14 Recommendations: Tools Education: Develop a one page document to illustrate the importance of Primary Employers and the flow of money in our local economy and the importance of identified and protected land and buildings for ED. Shovel Ready: Create a “Shovel Ready” type standard of information needed for land that is for sale and is suitable for development by primary employers. LOIS: Use of Location One by all jurisdictions and encourage commercial brokers to list on LOIS. 14

15 Recommendations: Policy Permitting: Regional cooperation on streamlining zoning and permitting processes to facilitate quicker approval. Focus: Rather than a scattered approach, we suggest a focused approach for industry clustering. Funding: Economic Development dollars, public and private, should be focused on Primary Employer retention, expansion and recruitment.. 15

16 Top Recommendation: Modify land zoning to follow and align with the Comprehensive Planning process. 16 Protects property for “planned” use Protects land investors from unforeseen issues Helps ensure infrastructure investments are utilized in line with the original purpose

17 Thank you! Members: Matt Crocker, Steel and Pipe Supply (Chair) Mark Bachamp, Olsson & Assoc. Michael J. Bomberger, St. Marys Health Center Kevin Fateley, Wildcat Creek Golf and Fitness Rich Seidler, Commercial Real Estate Services LLC Kendal Shoenrock, Kansa Development Corporation Steve Struebing, Weary Davis, L.C. Staff Support: Trent Armbrust, Manhattan Area Chamber of Commerce Gary Stith, Flint Hills Regional Council Tom Weigand, Junction City Chamber of Commerce 17


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