Economic Development Breakfast SEPTEMBER 28, 2017 Thank You to - - PowerPoint PPT Presentation

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Economic Development Breakfast SEPTEMBER 28, 2017 Thank You to - - PowerPoint PPT Presentation

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1 Mayor and Council Economic Development Breakfast SEPTEMBER 28, 2017 Thank You to our 2 Sponsors @ioDataCenters @SRPconnect Todays Program 3 7:30 a.m. Breakfast and Networking 8 a.m. Welcome from Mayor W.J. Jim Lane 8:10

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Mayor and Council Economic Development Breakfast

SEPTEMBER 28, 2017

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Thank You to our Sponsors

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@ioDataCenters @SRPconnect

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Today’s Program

7:30 a.m. Breakfast and Networking 8 a.m. Welcome from Mayor W.J. “Jim” Lane 8:10 a.m. Revitalization Update from Councilmember Virginia Korte 8:25 a.m. Economic Development Update from Danielle Casey 8:40 a.m. Keynote Presentation from Todd Govig 9 a.m. Event Conclusion

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@ScottsdaleEcDev | #ChooseScottsdale

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Welcome from W.J. “Jim” Lane

Mayor, City of Scottsdale

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Celebrating New Firms

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@ScottsdaleEcDev | #ChooseScottsdale

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Celebrating New Firms

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@ScottsdaleEcDev | #ChooseScottsdale

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Scottsdale Community College – Your Fighting Artichokes

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@ScottsdaleEcDev | #ChooseScottsdale

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Scottsdale: The Cure for the Common City

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siteselection.com/cc/greaterphoenix

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Save the Date: 5th Annual Cure Corridor Event

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Keynote Andrew Hessel Friday December 8, 11:30 a.m. – 1:30 p.m.

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South Scottsdale Update from Virginia Korte

Councilmember, City of Scottsdale

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Rise of McDowell Road

1960’s 1970’s 1980’s 1990’s 2000’s

Papago Plaza Ray Korte Chevrolet Dealership McDowell Road Flood Los Arcos Mall

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@ScottsdaleEcDev | #ChooseScottsdale

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Revitalization of McDowell Road

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2004 2008 2013 TODAY FUTURE

SkySong Innovation Center SkySong Apartments SkySong 6 Conceptual Rendering McDowell Road and Scottsdale

@ScottsdaleEcDev | #ChooseScottsdale

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2012-2015 Residential Completions

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Chandler Gilbert Phoenix Scottsdale Tempe

559 2108 1288 147 27 494 1886 1737 242 5 415 1641 1498 265 9 593 1409 1582 328 19

2012 2013 2014 2015

Source: Maricopa Association of Governments, Residential Completion Report
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2012-2015 Multifamily Completions

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Chandler Gilbert Phoenix Scottsdale Tempe

227 2 875 220 566 488 279 1548 379 451 777 672 1798 1275 332 903 147 2310 2486 1160

2012 2013 2014 2015

Source: Maricopa Association of Governments, Residential Completion Report
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Downtown and McDowell Road Corridor Population Trends and Projections

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2000 TOTAL HOUSEHOLDS 2010 TOTAL HOUSEHOLDS 2017 TOTAL HOUSEHOLDS 2022 TOTAL HOUSEHOLDS

17,381 16,957 19,008 20,649 8,137 7,994 8,708 9,366 Downtown Scottsdale McDowell Road Corridor

Source: September 2017 ESRI
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Downtown and McDowell Road Corridor Owner/Renter Occupied Housing

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Source: September 2017 ESRI 37% 44% 19%

61% 25% 13%

0% 10% 20% 30% 40% 50% 60% 70% 2017 Owner Occupied Housing Units 2017 Renter Occupied Housing Units 2017 Vacant Housing Units

Downtown Scottsdale McDowell Road Corridor

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Downtown and McDowell Road Corridor Owner/Renter Occupied Housing

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Source: September 2017 ESRI 37% 44% 19%

61% 25% 13%

0% 10% 20% 30% 40% 50% 60% 70% 2017 Owner Occupied Housing Units 2017 Renter Occupied Housing Units 2017 Vacant Housing Units

Downtown Scottsdale McDowell Road Corridor

Corridors by Zip Code 2017 Owner Occupied Housing Units 2017 Renter Occupied Housing Units 2017 Vacant Housing Units 2017 Total Housing Units Downtown Scottsdale 8,648 10,360 4,525 23,533 McDowell Road Corridor 6,153 2,555 1,349 10,057
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$73,310 , 46% $84,659 , 54% Downtown Scottsdale McDowell Road Corridor

2017 Average Household Income

Source: September 2017 ESRI
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McDowell Road Corridor

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GROWING MARKET TR TRENDS

Since 2011 Single family resale values have doubled

PUB PUBLIC INV NVESTMENT

Since 2011 public investment in the form

  • f capital improvement projects total

$102M with more than $50M planned

COMMERCIAL INV NVESTMENT

The vacancy rate for commercial

  • ffice on McDowell Road Corridor

is at 21% with an average lease rate of $26.66 /SF in Q2 2017

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Downtown Scottsdale

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GROWING MARKET TR TRENDS

Over 23,500 jobs are in Downtown Scottsdale

PO POPULATION

In 2016 the total downtown population was over 3,300 with a median age of 40.9

INV NVESTMENT

Nearly 1400 multi-family residential units are currently under construction

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Downtown Activation

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In 2016 Downtown Scottsdale hosted 174 events EVENTS The City Council approved $1.1M in funding of Downtown events FUNDING Scottsdazzle, Western Week, Canal Convergence, Parada Del Sol Parade and Trails End Celebration, and the Scottsdale Grand Prix FUNDED EVENTS Increased cultural

  • pportunities, recreational

activities, and increased economic activity EVENT BENEFITS

$

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Downtown Marketing

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Early 2017 July 2017 October 2017 January 2018

The City contracted with a local marketing firm HAPI to embark

  • n a Downtown

Scottsdale brand positioning project with the intent to advertise our desirable downtown to locals throughout the greater Phoenix area, as well as visitors here on their vacations.

  • The City provided an
  • verview of its

marketing plans to downtown businesses New brand soft launch will occur In-depth marketing and advertising of Downtown Scottsdale will begin in January following

  • ur downtown

holiday event “Scottsdazzle.”

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The Future of Downtown

  • Tourism related economic

feasibility study

  • Numerous public input

sessions

  • Final report late October

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@ScottsdaleEcDev | #ChooseScottsdale

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Downtown Hospitality

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Hotels

17 hotel properties and 2,555 rooms, which respectively accounts for 34% and 28% of total Scottsdale hotels and rooms

Occupancy Rates

Downtown hotels occupancy has remained fairly consistent year over year holding at 70%, .

Average Daily Rate

Average daily rate for a Downtown hotel room over the past twelve month has been $156.78, which is up 3.8% year over year.

@ScottsdaleEcDev | #ChooseScottsdale

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Growing Downtown Scottsdale

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  • Macerich expansion of

Scottsdale Fashion Square Mall

  • $12M Hotel Adeline remodel

underway

  • Livewire restaurant and

bowling alley

  • Luxury apartment at Peacock

Scottsdale

  • Winfield Hotel and Residences
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Desert EDGE

  • Located on a 5.34-acre parcel that borders an existing parking lot and

incorporates a maintenance building that was constructed at the same time as the Gateway Trailhead building

  • 47,586 square feet with eight indoor and outdoor pavilions and an

additional 5,400 square feet of off-preserve space for operational uses and overflow parking

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Desert EDGE

  • The future site will also house the newly established Arizona State University

Global Drylands Institute, which will primarily focus on dryland ecosystems and how humans affect them

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Economic Development Update from Danielle Casey

Economic Development Director, City of Scottsdale

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“ ”

To elevate, enhance and ensure Scottsdale’s sustained desirability as a place in which to live, learn, do business, work, recreate and visit.

PURPOSE OF ECONOMIC DEVELOPMENT STRATEGIC PLAN AS ADOPTED FEB.17, 2015

CARRYING OUT THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY ALSO SERVES AS ONE OF THE SIX CITY COUNCIL STRATEGIC PRIORITIES ADOPTED SEPT. 20, 2016

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@ScottsdaleEcDev | #ChooseScottsdale

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Key Performance Indicators

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@ScottsdaleEcDev | #ChooseScottsdale

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Industry Trends

  • 8.5% Retail Vacancy Rate (+1.6%)
  • 12.4% Office Vacancy Rate (-2.1%)
  • 7.9% Industrial Vacancy Rate (+1.9%)
  • 28.4% growth in corporate HQ positions
  • 25% growth in financial services workforce
  • 18% growth in healthcare and bioscience jobs
  • Year to date, median home sales price +4.1%
  • Maricopa County #1 on Talent Attraction

Scorecard

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Since 2012:

@ScottsdaleEcDev | #ChooseScottsdale

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ScottsdaleSites.com

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@ScottsdaleEcDev | #ChooseScottsdale

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Supporting Talent Attraction and Retention

ChooseScottsdale.com/work

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@ScottsdaleEcDev | #ChooseScottsdale

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Startup Support

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@ScottsdaleEcDev | #ChooseScottsdale

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Recognitions and Awards

Accredited Economic Development Organization, Multiple Awards, and Two Team Members Achieving Certified Economic Developer Status

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@ScottsdaleEcDev | #ChooseScottsdale

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Looking Ahead

 Utilize results of business survey to develop programs or service improvements  Grow ‘Work Scottsdale’ initiative with increased collaboration  Focus on redevelopment opportunities in key corridors  Increase support programs for small business  Expand internal direct lead generation and partner participation

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@ScottsdaleEcDev | #ChooseScottsdale

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Please Join Us.

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Key Partners

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Todd Govig

President & Chief Executive Officer, Govig & Associates

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Thank You to our Sponsors

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@ioDataCenters @SRPconnect

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Mark Your Calendars

October 18: Downtown Business Gathering November: Fall 2017 Small Business Training Series December 8: 5th Annual Cure Corridor Event For more events, programs and news visit ChooseScottsdale.com/news

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@ScottsdaleEcDev | #ChooseScottsdale

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Thank You for Attending.

MAYOR AND COUNCIL ECONOMIC DEVELOPMENT BREAKFAST SEPTEMBER 28, 2017

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“ ”

“Through its economic development investments and programs, the City of Scottsdale retains, grows and attracts targeted sources of wealth generation to enhance the community’s tax base and quality of life, preserve the natural environment and foster prosperity for all citizens.”

CITY OF SCOTTSDALE ECONOMIC DEVELOPMENT MISSION

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@ScottsdaleEcDev | #ChooseScottsdale