Economic Development Initiative

New Game Plan A Catalyst for Community Sustainability

Sustainability: n. meeting the needs of the present without compromising the ability of future generations to meet their own needs. …………….86% of local taxes are based on residential use International Institute for Sustainable Development defines:

Current Situation Lack of DiversityLack of Diversity 85% residential funded 2% Industrial funded 2% Industrial funded Collapse of our primary job sector Collapse of our primary job sector Unsustainable Unsustainable

Cost of Service Study Cost of Service Study Residents Business Pays: $1.00 Pays: $1.00 Receives $1.18 Receives: $.25 in services:in services 2008 University of California Study Importance of Diversity

Current Situation (jobs) Collapse of construction industry Collapse of construction industry Highest unemployment in State Highest unemployment in State Seeking employment outside county Seeking employment outside county Brain Drain- graduates leaving area Brain Drain- graduates leaving area Unemployment

Our Competitors …………….85% of business referrals will need existing facilities

Our Competitors Mature infrastructureMature infrastructure Reduced land costsReduced land costs Lower leasing ratesLower leasing rates Existing facilitiesExisting facilities

Our Community Lack existing facilitiesLack existing facilities Lack infrastructureLack infrastructure Lack available Industrial landLack available Industrial land Lack competitive lease ratesLack competitive lease rates Lack of consistent incentive fundingLack of consistent incentive funding

Community Strengths …………….17% unemployment means a ready labor force

Community Strengths Transportation networkTransportation network Readily available workforceReadily available workforce Advanced communication networkAdvanced communication network Cooperative government partnersCooperative government partners Quality of LifeQuality of Life

The Plan ……………..dedicated.25 mil per $1,000 toward economic development

The Plan Voter approved economic development initiativeVoter approved economic development initiative Dedicated funds for economic developmentDedicated funds for economic development.25 mil for 20 years.25 mil for 20 years

The Plan Capital Funding Projects 60% Funding Incentives 30% Local Expansion/Retention Enhanced Marketing of Community 10% Funds generated, approximately $1.8 million per year dedicated to addressing:

Cost to Residents Current Median Home Price $120,600 Annual cost to property owner $17.65 Example $150,000$25.00 $200,000$37.50

Administration BOCC will make decisions regarding expenditureBOCC will make decisions regarding expenditure Enterprise Flagler provide support/adviceEnterprise Flagler provide support/advice Board comprised of public and private sector As well as elected officials

Community Action …………….17% unemployment means a ready labor force

Important Dates Asking elected officials to support allowing citizens to vote on this matter on November 2, 2010 ballot June 7, 2010BOCC Authorization June 18, 2010Election Ballot Deadline November 2, 2010Election