CITY OF MESQUITE ECONOMIC DEVELOPMENT QUARTERLY REPORT 2 nd Quarter 2018: April, May and June Presented September 17, 2018 Kim Buttram, Assistant Director of Economic Development 1
• Elements International is Media Highlights relocating headquarters to Mesquite, Texas; consolidating Rockwall, Garland and Houston offices, resulting in statewide media coverage • National and regional media announced the Peachtree Verde development, a $250 million, 60-acre medical campus • Front Street infrastructure and business development plans for Downtown Mesquite resulted in regional media coverage for the City-led efforts 2
Action at a Glance Trade Shows As of June Business Retention Program May-ICSC: International Council of Shopping Centers: 2018 More than 50 prospects visited. May-IAMC: Industrial Asset Management Council: More than 20 prospects visited. Workforce Development Event 1 June-Bisnow Data Center Investment Conference & Expo: More than 15 prospects visited. Attendance 35 Meetings, Tours, Projects As of June 2018 Partner Service/Skills Development Inquiries 5 Combined Project Meetings 236 Requests for Proposals and Requests for Information Submitted 26 Business promotion and hiring event social Site and Property Tours 22 18 media marketing posts Telephone contacts 1,818 New Projects in Discussion 19 Chapter 380 documents in progress 6 Business Visits/Tours 47 Chapter 380 documents executed 4 3
Council’s Economic Development Priorities JOB CREATION • Turbo-Boost Your Workforce • Record attendance: 35 industry reps • Eastfield gained two new contract training clients • CTE High School networking • Job growth expected to continue • Estimated 115 new jobs created by quarterly Certificates of Occupancy • 3.6% unemployment rate (Texas 4%) Ashley Furniture completes exterior of new Mesquite distribution facility 4
Council’s Economic Development Priorities • Proposed development of major retail space vacancies: • Sears • Gander Mountain RETAIL VITALITY • Toys R Us • Rents ranging from $10-$35 per square foot • 200,000 square feet new construction; remodels $6 million+ • Sales Tax flat as projected – stable • Town East Mall reports • 93% occupancy rate • 60-minute eastern drive-time, one million population market area has $71,544 average income 5
Council’s Economic Development Priorities Next BRE Event: Envision yourself an Sessions on: Entrepreneur • Planning your • November 13, 2018, 3:00-7:00pm business • Downtown Mesquite • Starting your • Featured speaker, Monte Anderson, Options business Real Estate • Managing your business • Growing your 3 rd year of Small Business Week: business • Reggae Wings & Tings • • SMALL BUSINESS Dos Panchas Aim High Indoor Bounce • • J&R Manufacturing Mesquite BBQ DEVELOPMENT 6
Council’s Economic Development Priorities Example SHOPPING CENTER Before and After REVITALIZATION • Shopping center inventory: 26 centers identified with preliminary ranking • Eight in active discussion with developers • Redevelopment policy formation to be presented by year end 7
Council’s Economic Development Priorities IH-20 CORRIDOR • Over 1,500 new home lots • Heartland PID/TIRZ • Heartland Towne Center commercial area • Polo Ridge PID/TIRZ Recent forward planning on 860 acres: Skymart (formerly High Country Estates) New IH-20 Corridor logo trademarked Connell-Spradley tract 8
Council’s Economic Development Priorities DOWNTOWN DEVELOPMENT Citizen stakeholders help direct Front Street project planning • Main Street Application submitted – Announcements in November at Texas Downtown Association conference • Infrastructure Plan underway • Four-point committees formed • Nine prospects in discussions • Façade process to be announced soon 9
MESQUITE POPULATION TRENDS MEDIAN INCOME RESIDENTIAL PERMITS MEDIAN AGE: 32 59 145,494 $55,890.00 35 2018 143,060 9 $54,440.00 2017 2016 2017 2018 YTD 2017 2018 YTD NUMBER OF HOUSEHOLDS RESIDENTIAL PERMIT VALUATION HOME VALUES $228,320.00 $15,455,220.00 $171,000.00 $165,800.00 51,079 50,965 $6,969,737.00 $1,007,300.00 Median Home Average Home New Home Median Home Value (up 12.6% Value Permit Value Value (up 126% over 2017) over 2017) 2016 2017 2018 YTD 10
City of Mesquite Economic Data UNEMPLOYMENT RATE HIGHER EDUCATION MAJOR EMPLOYERS ATTAINMENT Orora Visual 420 Baker Brothers 450 28% 3.60% Pepsi 650 Degree earned Wal-Mart 850 Eastfield College 900 52% City of Mesquite 1,200 Higher education 3.20% Dallas Regional 1,500 attainment UPS 2,300 52% Town East Mall 2,750 MISD 4,000 2018 2017 2017 2018 TOP INDUSTRIES BY JOB TYPE HOME OWNERSHIP POPULATION DISTRIBUTION Retail AND RENTAL Accommodation/Food Health Care/Social Service Owners Renters 6% Education 22% 37% 10.30% 38% 19.40% 62% 35% 11.80% 13.10 White Hispanic Black Other 11
City of Mesquite Economic Data Featured New COMMERCIAL NEW COMMERCIAL REMODEL PERMITS Permits CONSTRUCTIONPERMITS 314 • Two airport 24 hangars 193 $1 million 15 165 • Legacy Prep 11 Charter Academy $8.6 million 2016 2017 2018 YTD 2016 2017 2018 YTD COMMERCIAL REMODEL PERMIT COMMERIAL NEW CONSTRUCTION VALUATION PERMIT VALUATION $88,829,264.00 $61,000,952.00 $51,097,313.00 $44,123,500.00 $37,652,099.00 $17,182,801.00 2016 2017 2018 YTD 2016 2017 2018 YTD 12
City of Mesquite Economic Data Featured New CO’s ESTIMATED NEW SQUARE FOOTAGE LOCAL SALES TAX COLLECTED • Mr. Blackwell’s 1,680,320 $32,795,444.00 $32,351,981.00 Café • Taiga Coolers, LLC $16,621,609.00 672,604 • Metroplex Pediatrics 45,938 • Texas Baptist 2016 2017 2018 YTD Men, Inc. 2016 total 2017 TOTAL 2018 YTD • La Union ESTIMATED NEW JOBS CERTIFICATES OF OCCUPANCY Panaderia ISSUED 1,212 325 290 839 131 115 2016 2017 2018 YTD 2016 2017 2018 YTD 13
• New Economic Development marketing Marketing strategy planning and implementation • Website under construction to go live Spring 2019 • Trade show booth in design for 2019 • Business recruitment video • Increased media reach through targeted publications and social media Trade Shows 14
This just in… • Mayor Pickett and Economic Development Director, David Witcher, featured an economic update on KEOM • Marriott Towne Place City of Mesquite Economic Development celebrated their grand David Witcher Kim Buttram, CEcD opening Director Assistant Director • Iron Horse Village concepts Beverly Abell Downtown Development Manager announced 1515 N. Galloway Mesquite, TX 75149 (972) 216-6446 kbuttram@cityofmesquite.com 15
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