Leadership Frisco Class XIX Economic Development Day November 6, - - PowerPoint PPT Presentation

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Leadership Frisco Class XIX Economic Development Day November 6, - - PowerPoint PPT Presentation

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Leadership Frisco Class XIX Economic Development Day November 6, 2015 FRISCO EDC OVERVIEW James L. Gandy , CEcD, CCIM President WHAT IS ECONOMIC DEVELOPMENT? Economic Development is a mix of economic activities that have the primary

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Leadership Frisco Class XIX Economic Development Day

November 6, 2015

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FRISCO EDC OVERVIEW

James L. Gandy, CEcD, CCIM President

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WHAT IS ECONOMIC DEVELOPMENT?

 Economic Development is a mix of economic activities that have the primary

purpose of bringing money and investment into a city.

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WHY IS ECONOMIC DEVELOPMENT IMPORTANT?

Provide a proactive growth management strategy to:

 Maintain a desirable quality of life  Promote balanced residential, commercial growth  Develop a greater property tax base  Generate quality job opportunities

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ABOUT THE FRISCO EDC

 Established 1991 & funded by ½ cent City sales tax for economic dev.

 Mission is to improve the economic opportunities and quality of life for all

residents of Frisco

 Focus on job creation, business retention & expansion, & expansion of the

City property tax base

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PRIMARY USES OF ECONOMIC DEVELOPMENT FUNDS

To promote business attraction, retention and formation by providing:

 Infrastructure upgrade and placement  Land, building purchase, lease and upgrade  Training/education for businesses  Economic incentives to businesses  Marketing and promotional activities  Administration and operation  Financial obligations such as bonds

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ORGANIZATIONAL CHART

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FRISCO EDC STAFF

James L. Gandy, CEcD, CCIM

President

Dave Quinn, CEcD

Vice President

John Bonnot

Director of Economic Development

Harry Whalen

Director of Business Development

Stefanie Wagoner, AICP

Director of Business Retention & Expansion

Elise Back

Manager of Economic Development

Darcy Schroer - Director of Marketing

Julie Floyd Office Manager

Pat Tittle Special Projects Coordinator

Veronica Traupman Senior Assistant

Julia Ventre Administrative Assistant

Kim Sinclair

  • Asst. Director, Contracts
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FEDC PROGRAM GOALS

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POSITIVE IMPACTS OF GROWTH

 Increased sales tax and property tax revenue  Quality job opportunities for residents  Low city and school property taxes  Ability to build infrastructure and

municipal buildings

 Excellent parks and recreation program  Provide facilities for all age groups  Continued small town feel

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Year Number of Projects Potential Square Feet Potential Capital Investment Potential Direct Jobs Created /Retained

2014 16 915,117 $89,015,000 1,582 2013 19 1,191,290 $174,093,000 2,301 2012 27 1,973,620 $1,013,151,000 3,500 2011 27 839,761 $152,655,500 2,030 2010 33 1,442,014 $264,991,500 3,465 Total 122 6,361,802 $1,693,906,000 12,878 5 YR Avg. 24.4 1,269,812 $356,812,000 2,488

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BEFORE MALL

Frisco Bridges – June 1998

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AFTER MALL

Frisco Bridges – December 2006

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BUSINESS ATTRACTION PROGRAM

James L. Gandy, CEcD, CCIM President

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BUSINESS ATTRACTION PROGRAM

 Local, national and international focus

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FRISCO’S COMPETITIVE ADVANTAGE

 Access to skilled, highly-educated workforce  Centralized location in major growth corridor

 25 min. drive to DFW Int’l Airport, Dallas Love Field,

downtown Dallas

 Competitive cost factors  Esteemed educational systems  Positive quality of life: public safety, services, amenities  Aggressive, growth-oriented attitude  Business Retention & Expansion programs

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WHERE DO LEADS COME FROM?

 Brokers  Developers  Companies  State of Texas  Site location consultants  Dallas Regional Chamber  Business Contacts  Other Sources

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INCENTIVE PROCEDURES

 Qualified projects submit Economic Impact Survey  Staff conducts an Economic Impact Analysis  Staff drafts Incentive Proposal based on FEDC Board

guidelines & Economic Impact Analysis

 Staff presents Incentive Proposal to FEDC Board  FEDC attorney drafts a Performance Agreement  Company accepts Performance Agreement  Board approves Performance Agreement

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PARTNERSHIPS

 LOCAL

  • City of Frisco, Frisco CVB, Frisco CDC
  • Frisco ISD, Collin College, Collin & Denton Counties
  • Frisco Chamber, Frisco businesses

 REGIONAL

  • Dallas Regional Chamber
  • North Texas Commission
  • North Texas Commercial Association of Realtors (NTCAR)

 STATE

  • Governor’s Office of Economic Development, TexasOne
  • Texas Economic Development Council (TEDC), Team Texas
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PARTNERSHIPS cont.

 NATIONAL

  • Industrial Assets Management Council (IAMC)
  • U.S. Commercial Service
  •  INTERNATIONAL
  • International Economic Development Council (IEDC)
  • SelectUSA
  • CoreNet Global
  • International Council of Shopping Centers (ICSC)
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BUSINESS FORMATION NORTH TEXAS ENTERPRISE CENTER (NTEC, Inc.)

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NTEC, Inc.

  • 50,000 S.F.
  • Technology start-up incubator / accelerator
  • One of largest business accelerators in Texas
  • NTEC-Inc.org
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BUSINESS RETENTION & EXPANSION

Stefanie Wagoner, AICP Director of Business Retention & Expansion

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BRE FOCUS IS CRITICAL

Economic Development Industry “Standard”

 ~ 80% new jobs created come from

existing companies

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BUSINESS RETENTION & EXPANSION PROGRAM

 Conduct corporate visitations  Performance Agreements for expansion

  • Since 2008 program initiated in FEDC
  • 1.2M s.f. space occupied
  • $82.5M capital investment
  • 3,500 jobs retained/created
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BUSINESS RETENTION & EXPANSION PROGRAM

 Provide Programming

  • Frisco Executive Forum
  • FriscoHR
  • Corporate Welcome Program
  • Frisco Young Professionals (Frisco Chamber)
  • Frisco Young Entrepreneurs Academy (Chamber/FISD)
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BUSINESS RETENTION & EXPANSION PROGRAM

 Partnerships

  • Workforce Board/Office
  • Frisco ISD
  • Higher Education Institutions – training/grants
  • Frisco Chamber of Commerce
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WORKFORCE

Labor Pool in 10-mile radius 500,000 Active Labor Pool in Frisco 61,000 Unemployment rate ~ 3.2% Residents with Bachelor degree + 59% Frisco & surrounding region have more than twice the national average for key information technology occupations

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TOP CORPORATE EMPLOYERS

(By FTE)

1. AmerisourceBergen Specialty Group 1,200 2. Conifer Health Solutions 1,000 3. Baylor Medical Center of Frisco 650 4. Mario Sinacola & Sons 600 5. Oracle 500 6. Centennial Medical Center 500 7. Kenexa / IBM 300 8. CAREington 300 9. FiServ 275

  • 10. ThyssenKrupp Elevators

175

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FRISCO EDC MARKETING

Darcy Schroer Director of Marketing

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MARKETING & MEDIA

Generate leads and proactively sell Frisco

  • Outbound marketing missions, national & international
  • Events and event sponsorship
  • Advertising in target publications, but more important, to a target

audience.

  • Social media: Facebook, Twitter, LinkedIn, YouTube
  • Radio Series Focus on Frisco airs on KRLD Newsradio 1080 AM
  • Collateral materials
  • Website: FriscoEDC.com
  • Facilitate reporter inquiries on projects and feature stories
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MARKETING & MEDIA

Not many cities can claim all of the following:

– Pro-business climate – Competitive incentives – Highly-educated, skilled workforce – Top-notch public safety – Exemplary public school system – Fast access to airports and thousands of metro-area attractions – Quality residential and commercial developments – Parks and hike & bike trails – Presence of four professional sports teams (five in 2016) – GENUINE PARTNERSHIPS! (It’s our secret sauce. )

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ONE MILE:

Dallas North Tollway between Warren Pkwy. & Lebanon Rd.

FOUR PROJETS:

The Star in Frisco Frisco Station The Gate Wade Park

$5.4 BILLION:

Investment that has been announced or is already under construction

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#5BMILE FriscoEDC.com/5BMILE

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Frisco’s success stories are our most powerful marketing tool!

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EB-5 PROGRAM

Frisco Texas International Development Center (FTIDC)

Elise Back Manager

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WHAT IS AN EB-5 PROGRAM?

  • The “EB-5 Program” refers to a visa category –

Employment Based Fifth Preference (EB-5)

  • Created in 1990 to promote job creation and encourage foreign

investment in the United States

  • Immigrant investors receive conditional resident status in the

United States for a two-year period upon an investment of:

  • $1 Million
  • $500,000 in “targeted employment areas”
  • Capital must be invested in a “new commercial enterprise” that

creates 10 permanent U.S. jobs per investor FriscoTXEB5.com

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BENEFITS OF THE EB-5 PROGRAM

  • Business Flexibility
  • Education Benefits
  • Preferred Residency
  • Access to non-traditional financing
  • Economic development:
  • Job creation
  • Increased property taxes
  • Increased sales tax

FriscoTXEB5.com

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FRISCO TEXAS INTERNATIONAL DEVELOPMENT CENTER

(FTIDC)

  • The FTIDC was approved by the U.S. Citizenship and Immigration

Services (USCIS) on August 1, 2013

  • The FTIDC Regional Center geographic territory includes Collin,

Dallas and Denton Counties

  • The FTIDC is wholly–owned by the Frisco Global Development,
  • Inc. (FGD)

FriscoTXEB5.com

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ECONOMIC DEVELOPMENT LEADERSHIP & PARTNERSHIP

Gary Carley Chairman Frisco EDC Board of Directors

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CASE STUDY: THE STAR IN FRISCO

Ron Patterson Assistant City Manager City of Frisco

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FRISCO CHAMBER OF COMMERECE ROLE IN ECONOMIC DEVELOPMENT

Tony Felker President / CEO Frisco Chamber of Commerce

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Leadership Frisco Class XIX Economic Development Day

November 6, 2015