and nd St Stra rategic egic Poli olicy cy Recom commend - - PowerPoint PPT Presentation
Cit ity of of Do Doral ral Economic onomic Anal nalysis ysis City Council cil Works rkshop and nd St Stra rategic egic Poli olicy cy Recom commend mendations ations Nove vembe ber 8, 2017 Economic Analysis: Components
City Council cil Works rkshop
Nove vembe ber 8, 2017
Competitive Assessment Knowledge platform and data-driven assessment of the key strengths, opportunities and issues regarding the City of Doral’s economy Strategic Policy Recommendations 1) Competitive Assessment 2) Future economic, occupational, workplace, residential and transportation trends 3) Understanding of Doral’s stated goals and aspirations to be a model family-friendly City in which to live, work and play, and 4) Best practices in local strategic economic development policy Recommended Strategic Programs and Projects Economic Development Implementation Plan
Doral is among the County’s most important and significant sub- economie ies 2% of f Co County Popula latio ion, , 10% of f all ll Co County Jo Jobs Emplo loyment grew 2.6 .6 tim imes faster r than the County Post-recessio ion emplo loyment growth th double le th the Co County – 16.4 % Home to 6,8 ,802 busin iness establi lishments emplo loyin ing 102,235 work rkers 2016 sa sale les revenue = $69.4 B Home to 28 company headquarters – many are glo lobal l lea leaders
Based on sales revenue per Capita, Doral is one of Florida’s most productive economies Doral’s employment growth plays a significant role in driving the County Economy The 9,472 jobs added in Doral from 2010 to 2014 represent 8% of all job growth in the County
St Strategic icall lly loc located in in Miam iami-Dade Co County Dir irect hig ighway ac access to commercia ial l an and ind industria ial l corri rridors – in interchanges at t SR SR 826, SR SR 836 Flor lorid ida Turnpik ike Doral l is is a a centr tral l lo locatio ion to li live an and work rk Ce Central l loc locatio ion an and tr tran ansportatio ion have mad ade Doral al a a majo ajor Co County busin iness hub
29.6% inc increase in in famil ily household lds sin since 2007 A Young munic icip ipali lity Ch Changin ing age dis istrib ibutio ion:
55 an and over – 73 73.6 .6% growth
5 to 17 17 – 46 46.4 .4 % in incr crease
35 to 54 54 – 37 37% growth
Shrin inkin ing sh shar are of
illennials ls (1 (18 to
34)
54.2% of f population 25 years and over have Bachelors degree or hig igher Double the rate for Mia iami-Dade County 1.8 .8 tim imes the rate for the rest of the U.S .S
Ra Rapid id jo job los loss durin ring th the las last recession – 8.6 8.6 % los loss 20 2008 08 th through 20 2010 10
Hig igh pe percentage of f residents employed in in hig higher skil killed occ ccupations Doral Median wage = $41,104 County median wage = $27,142 Doral resident wages hig higher in in 23 of f 35 occupational categories th than County New jo jobs pr primarily add dded in in lo lower pa paying service sect ctor From 2007 to 2015 mean wages in in only 14 of f 24 in industries in increased Some ind industries ha had 30 pe percent or more de declines Doral’s median household income has declined by 3.2 percent since 2010
Th The e Adv dvanced Ind Industr trie ies Sec ector driv drives US inn innovatio ion, tec echnolo logy an and bus busin iness growth th Adv dvanced Ind Industrie ies em empl ploy 9% of
all l US work
n Fl Florid ida Sec ector r pr prod
.7 trill trillio ion in n val alue-added Sec ector r pr prod
all l U.S .S. . GDP Dor
l is s hom home to
dvanced Ind Industrie ies es establis ishments Doral’s AI businesses over $2 Billion in local sales, and more globally
11% of the City’s employment
Fir irm Locatio ion: Top 5 Advanced In Industries Sect ctors in in Doral
Econ 101: : Grow Your r St Strengths Clu Cluster: Region ional l Co Concentratio ion of f Rela lated Ind Industrie ies in in a a Par artic icula lar Lo Locatio ion Clu Clusters ar are centr tral l component of f economic ic competit itiv iveness Th The str trategic ic poli licy fr framework is is buil ilt aro round th the common needs of f th the re recommended target ind industry ry clu clusters an and th their ir hi high wage c component ind industrie ies
Target In Industry ry Clu luster Analysis is
Target In Industry Clu luster Analysis
Only ly 24.1% of f all all work rkers who li live in in Doral, l, work rk in in Doral 93.9% of the City’s jobs base is filled by workers who live outsid ide Doral Eac ach day over r 72,000 work rkers enter r an and 14,000 resid sidents lea leave th the City City Mismatch between Doral’s jobs and residents education and skills exacerbates the City’s traffic problems
’
Where% Doral% Residents% Work# Doral% 8,160# 22%# Miami% 5,560# 15%# MIA% 4,320# 12%# Hialeah% 2,970# 8%# Miami% Beach% 2,240# 6%# Medley% 1,270# 3%# Sweetwater% 1,240# 3%# Coral% Gables% 950# 3%# Kendall% 930# 2%# Miami% Lakes% 750# 2%# University% Park% 680# 2%# Hialeah% Gardens% 510# 1%# All% Other% Locations% 7,690# 21%# Total% 37,270# 100%# Where% Doral% Workers% Live% Miami% 12,750# 15%# Hialeah% 8,300# 10%# Doral% 8,160# 10%# Fountainebleau% 4,470# 5%# Tamiami% 3,530# 4%# Miami% Beach% 3,210# 4%# Kendall% 3,140# 4%# Kendale% Lakes% 2,630# 3%# Miami% Gardens% 2,060# 2%# Westchester% 1,660# 2%# The% Hammocks% 1,640# 2%# Sweetwater% 1,620# 2%# All% Other% Locations% 31,700# 37%# Total% 84870# 100%# Source:# Southeast# Regional# Planning# Model# 2040#
Nort rth-South Co Commutes Are th the Proble lem
10. . Traffic fic Congestio ion — Doral’s Achilles Heel?
Failu ilure to
ignif ificantl tly red educe in increa easin ing tr traffic ic con
threaten ens ec econ
iveness and qualit ality of
life e for
its res esid idents Can‘t add new capacity Do Doral al ne need eds to
redu duce e the the nu number r of
daily ily trip trips s an and d the the nu numbe ber of
vehic icles s on
the ro road “5% modal shift towards alternative modes will reduce most of the need for roadway widening on all but one roadway segment in 2025 projects” “30% modal shift will reduce the need to widen 80% of the projected roadways requiring additional capacity” More Cr Creati tive e Str Strateg egies s Req equired: 1) 1) Lan Land us use e , , 2) 2) Tele elecommuting, 3) 3) Rid ide-sh sharin ing, 4) 4) Hou Housi sing, an and 5) 5) Work rkshif ifting
Do Doral l can an be a a competit itive loc location for hig igh-skill ill, hig igh-wage, an and hig igh tech se sectors Ne New of
ill requir ire new str trategie ies:
Shri rinkin ing square foo
er em employee Outs tsourcing non
functions: IT IT, , acc ccountin ing, human resources, marketing and le legal to
lower cos
providers Workshifti ting:
sing sa satell ellit ite of
fices es in in neig neighbor
elecommuting
Usin ing Sha Shared Of Office Spa Space
Curr urrent t medi edian hom home valu alue of
,800 is s out
each for
l hou households earn earning und under 150 percent of the City’s median household income ($109,399) Med edia ian ren ent pric price = = $2,20 ,200 Miami-Fort t Lau auderdale Metr tro med edia ian ren ent t = = $1,9 ,900 Med edia ian valu alue of
units constructed si since 2010 is s $615,90 ,900 –– dou double le the the City ty med edia ian valu alue 57% of
l ren enters ar are e cos
City’s H&T Index is 77% –– 62% for
Doral is is approaching fu full ll build-out of f its its commercial and in industrial la land area Le Less vacant la land is is available for r new res esidentia ial development 36 367 acres of f vacant propert rty rem emain in in th the Cit ity whic ich are both zoned for, and su suitable for r commercial, , offic ice, or r in industria ial uses 36 367 acres = = 31 31,991 to 57,730 new jo jobs
Slowing growth – fr from
ts exp xplo losive pa pace of
the last t 15 yea ears Few lar arge sc scale le pr proje
elocatio ions The The exp xpansio ion of
xistin ing, g, sm small all busi businesses em emplo loyin ing les ess tha than 50 peo people Ex Exis istin ing bu busin inesses improvin ing competit itiv iveness th through in investments in technolo logy, pr prod
ivit ity, and and mor
e ski skill lled lab abor Gr Growth thr throu
acquis isitio ion of
xistin ing busi businesses New sm small ll busi business cr creatio ion and and en entrepreneurship ip The The con
and/or dem demolit itio ion of
xistin ing bui buildin ings to
new use uses
A Uniq nique ue Economy in in Sou South Flo lori rida a – sign ignif ificant t com
ive advantages es and gr growth op
ities es Futu ture gr growth is is never er gu guar arantee eed Do Doral l is is rea eady for r a new rou
leadin ing edge economic ic gr growth th Do Doral l is is poise
elop as as lea leading cen center r of
igh-wage, high igh in innovati tion in industri ries es if if foc
s sh shifts ifts to:
ing th the e tech echnological, in innovation and skills ills of
its small ll busin inesses es
ity of
futu ture ec econ
growth
xpandin ing op
incomes
essing g loc local l and reg egional l tr transportation problems
A Uniq nique ue Economy in in Sou South Flo lori rida a – sign ignif ificant t com
ive advantages es and gr growth op
ities es Futu ture gr growth is is never er gu guar arantee eed Do Doral l is is rea eady for r a new rou
leadin ing edge economic ic gr growth th Do Doral l is is poise
elop as as lea leading cen center r of
igh-wage, high igh in innovati tion in industri ries es if if foc
s sh shifts ifts to:
ing th the e tech echnological, in innovation and skills ills of
its small ll busin inesses es
ity of
futu ture ec econ
growth
xpandin ing op
incomes
essing g loc local l and reg egional l tr transportation problems
Strategic Program and Policy Recommendations
21 21st
st Centu
tury Competitiveness Defin ined By:
Diverse economie ies wit ith stable em emplo loyment th that t be better r res esis ist t bu busin iness cy cycle swin ings; A local lab abor r for
th ski skill lls and and br brain ainpower to
support glob
lly com
itiv ive busi businesses, and and
higher wag age, hig high ski skill lled em emplo loyment t opp
rtunitie ies; Risi Rising hou household incomes ac across the the inc ncome spe spectrum, redu educin ing inc ncome di disparit ity y be betw tween the the top
and bot bottom; Effi ficiently ly al allo locating reso esources to
timulate ne new ec economic ic growth; Gr Growin ing strong innovatio ion and and en entr trepreneurship ne network rks to
brainpower r into wea ealt lth, even en in n tr trad adit itio ional l ind ndustrie ies; Sup upport rtin ing br broader r access to
business ownership ip, as as a a way to
both th grow ne new job jobs, an and grow fam amil ily wealth th Develo lopin ing qua quali lity ty, con
places tha that ha have a a hi high qua qualit ity of
and Str tron
civic col
ion — leaders who ho ar are e ab able le to
laborate and and part partner r with bus busin inesses and and othe
rnments bot both lar arge and and sm small all
Strategic Program and Policy Recommendations
1. . Adopt New Growth Objec jectiv ives and Perf rform rmance Metr tric ics
Co Comple lete Do Doral l Economic ic De Development Metr trics Da Dashboard
2. . Develo lop In Incentiv ives and Programs th that Reward In Innovatio ion
Im Imple lement In Innovation Grant/Loan Program Foc
Industry Clu Clusters Target Businesses that are in, or Service, City’s Target Clusters and Industries
3. . Dri rive New Busin iness Creatio ion
Support th the e Cr Creation of
,000 SF of
ccelerator Space for Target In Industry Clu Clusters
Strategic Program and Policy Recommendations
4. . In Incorporate th the Elem lements of f an In Innovatio ion Dis istric ict in in New Develo lopment
Provid ide Zon
ing for an In Innovation Dis District Soli
it In Insti titutional l Partn rtners and Priv rivate De Developers
5. . Develo lop Inc Incentiv ives an and Programs th that Rewar ard Inn Innovatio ion
Im Imple lement In Innovation Grant/Loan Program Foc
Industry Clu Clusters
6. . Dri rive New Busin iness Creatio ion
Support th the e Cr Creation of
,000 SF of
ccelerator Space for Target In Industry Clu Clusters
Strategic Program and Policy Recommendations
7. . Expand Small ll Busin iness Ownership ip Opportunit ities
Im Implement Legacy Business Acq cquisition Program
8. . In Invest in in an Ult ltra-High Speed In Internet Backbone for th the Cit ity
Solicit Service Providers
Strategic Program and Policy Recommendations
9.
riorit ity Transportatio ion Str Strategies De Develo lop Ne New Premium Exp xpress Bu Bus s Serv Servic ice for
Commute Routes
predominately South and North of Doral)
In Intra-Cit ity Cir ircula lation Im Improvements
Uber, and ZipCars
buses at rush hour
challenge programs to increase transit ridership
information on how to reach a particular destination by public transit
Strategic Program and Policy Recommendations
Support Work rkshif iftin ing and New Work rkpla lace Lo Locatio ion St Strategie ies in in Doral
De Develop in ince centi tive programs th that t encourage employers to
implement tele lecommutin ing programs De Develop targeted marketi ting program to
large e downtown em employers abou
t th the e ben enefit fits of
wor
ing to
Doral Revis vise loc local l zon
through den ensit ity bon
es or
rking rel elie ief to
incen centiv ivize co-workin ing space ces De Develop fin financial l gr grants or
incen centi tives for th the e devel elopment of
ing space ce Revis vise zon
g - par arkin ing an and den ensit sity bonu
ses s - to
incen centivize e liv live-work hou
ing units its and liv live- wor
ies De Develop, and provide e gr grants to
cces ess affordable le ultr ltra-high-speed in inter ernet con
tivity, es espec ecia ially ly for
l busin ines esses
Strategic Program and Policy Recommendations
ing Ch Choic ice Exp xpansio ion
De Develop an Affordable Ho Housin ing Tru rust Fund Part rtner with ith or
Create e a Co Community La Land Tru rust (C (CLT) Cr Crea eate or
Direct a City City De Department or
Compete for Ho Housin ing Grants and Fin inancin ing Sele elect and Provide Funding Assis istance to
List of
Housin ing De Developers Provid ide Zon
ing In Incen entives es Such ch as De Densit ity Bon Bonuses es to
Developers of
Housin ing Reduce Park rking Requirements
Strategic Program and Policy Recommendations
ively ly Exp xpand Lo Local l Netw tworkin ing and B-2-B Programs
Bu Build ild Co Comple lete on
line Do Doral Bu Busin iness Di Directory De Develop soc
ial med edia pla latf tform ded edic icated to
Doral l busin ines ess-to to-busin iness netw tworkin ing, com
ing Co Consider addin ing new econ
t pos
ition foc
clusiv ively ly on
exis xisti ting loc local l busin ines ess exp xpansion Im Imple lement preferred purchasing g program for Do Doral l busin ines esses as part rt of
ery public lic con
t in in Do Doral
Strategic Program and Policy Recommendations
the Bon-Lemon Property for Mix ixed Use Pla lanned Uni nit Development
the Doral Brand More Effectively
Com
lete an an Upd pdated Dor
l Mul ulti-media ia Mark arketin ing and and In Informatio ion Pack ackage, si sing ng the the Fin Findin ings of
the Competit itive Ass ssessment
Strategic Program and Policy Recommendations