Economic Development Vital to Dania Beach’s Survival and Growth

2. Economic Development Vital to Dania Beach’s Survival and Growth • Lingering effects of U.S. recession • Airport impacts to City’s tax base • Competition from neighboring cities • Aged building and housing stock • Shifting business sectors

3. The Pillars of Economic Development • Job Creation • Job Retention • Attract Investment • Improve Tax Base • Preserve Quality of Life

4. CRA Economic Development Objectives • Create 2,500 new high skill, high wage jobs in Dania Beach over five years • Attract $100 million in new capital investment to the City during the same period • Increase industrial/commercial tax base accordingly

5. How are we going to do it ? • Incubation of new small businesses • Retain and expand existing businesses • Focus on new, high growth sectors • Aggressive outreach to innovative investors, corporate leaders

6. Broward County Economic Growth(2006-2010)Lowe Foundation Job Growth From Small Companies Establishments Jobs Self Stage 1 (1-9 employees) Stage 2 (10-99) Stage 3 (100-400) Stage 4 (500+) 28,808 57,883 [1,115] [26] [9] 28,808 134,867 [23,086] [4,085] [20,898] Growth From Florida Companies Establishments Close 96,365 Net 101,221 Open 197,594 Jobs Open 400,784 Close 337,645 Net 63,139 Expand 168,124 Contract 67,629 Net 100,495 Move In 33,826 Move Out 24,592 Net 9,234

7. Incubation is important to our growth Provide low-cost startup offices Incent high wage, high skill future employers • Facilities. Provide entrepreneurs with low cost physical space, admin support, common conference space and research facilities (wet labs) • Professional support. Legal, financial, marketing counsel and business plan review • Financial Advice. Need to attract debt or equity capital including venture or angel investors • Technology Transfer. New businesses spring from patents generated by universities, high tech corridor, NASA • Peer Review. Unvarnished feedback during 2-year ramp up

8. Business retention is fundamental • Business Contact • Database; annual, 1/4ly meetings; leaders council; sector breakfasts; newsletter; SBDC • Incentive Coordination • EZ, brownfield, workforce; façade/merchant • Facilitation • QTI, QRT, Road grants; SBA, NMTC, EB-5; Permits • Advocacy • Workshop; outreach; corporate; peer forum; industry/association initiatives

9. We need growth in three key job types 2013 30,183 2040 34,186 Population 18-65 10,141 12,165 13,674 Labor Force Construction 650 5.3% Manufacturing 1,139 9.4% Utilities 72 0.6% Wholesale 1,288 10.6% Retail 2,445 20.1% Logistics 503 4.1% **** Information 102 0.8% **** Financial 211 1.7% Professional, Scientific1,023 8.4% Management 100 0.8% Health Services 324 2.7% **** Real Estate 296 2,4% Leisure & Hospitality 1,321 10.9% Arts, Entertainment 569 4.7% Public Administration 241 2.0% Education Svcs. 271 2.2% Of the 12,165 people who are employed in Dania Beach, 788 live and work in the City. There are 11,377 workers who live outside the City and work within Dania Beach. Of the 11,490 workers who live within the Dania Beach City limits, there are 10,702 residents who work outside the City (93.5 percent). There is a net job outflow of 675 workers.

10. Dania Beach must seek targeted employers State and County incentives go to targeted industry sectors • Cleantech • Life Sciences • Infotech • Aviation/Aerospace • Homeland Security/Defense • Financial/Professional • Services • Corporate Headquarters • Emerging Technologies • Generate leads via Alliance, • State of Florida channels • Visit targeted industries in • Miami, Orlando, Tampa and • West Palm Beach • Contact national prospects • Link to FAU, FIU, Nova Southeastern University UF, USF, UCF, FSU, • Host C-level events in • Dania Beach in targeted • sectors

11. There is a global competition for jobs Dania Beach today enjoys a privileged and enviable location that is attractive to virtually any potential investor/employer. However, businesses today have a global choice of locations and are seeking communities with shared values • Is Dania Beach ‘Business Friendly’? • We must overcome a severe lack of infrastructure to create shovel ready properties (roads, water, fiber optic) • Are we engaged in the battle for resources (federal, state, county)? • Immediate access is needed to capital, finance, grants and incentives • Can we grow a healthy business environment?

12. Economic Transformation • Traditional Sectors • Tourism • Antiques/vintage • Commercial decoration • Marine • Future Clusters • Medical services • High technology • Logistics & supply chain • Marine technology • Transportation mobility • Professional services • Research & Engineering

13. Dania Beach will undergo a transformation Dania BeachTomorrow Healthcare Trade &Logistics AdvancedManufacturing RuralCare Renewable Energy Antiques/ Vintage Lifestyle Communities Commercial Design Construction Marine Technology Green Building Tourism New EnvironmentalSciences Eco-Tourism Tourism & Recreation Dania Today Business Travel

14. We can attract high growth, high wage industries(from SRI CFDC Cluster Study 2009)

15. A modern diversified economy requires building blocks

16. What is Dania Beach’s niche in our Megaregion?

17. What financial incentives do we need? • The CRA: • Can offer major employers in targeted industries serious state and county incentive dollars. • The CRA is devoting its budget and seeking grant and county funding for an incubator and other economic engines • Dania Beach: • Needs to increase funding of strategic infrastructure improvements in business areas • Should develop a set of financial and non-financial incentives for major new employers

18. A checklist of what Dania Beach can do? • An Economic Development Point Person • Elected officials serve as Ambassadors: Positive and knowledgeable of all the City’s assets • Develop policies and infrastructure that are conducive to economic development – zoning, code, fees, fast track permitting • Shovel Ready Sites • Is the land for sale? Single owner or multiple owners? • Information on the website • Incentives, tax breaks and waiving of fees • Staff that can answer specific questions regarding infrastructure: roads, water, sewer • Can the City move quickly in voting on incentive packages?

19. What are the Important Challenges ? • Infrastructure really should get underway to places that facilitate commercial/industrial development • It’s a small community and the CRA should document and post fractional property ownership to help assemblages and uses that make financial sense • Dania Beach should adopt ‘best practices’ in permitting proposals that speed and simplify the process while protecting the community • Dania Beach elected officials should join peers in county, regional positions of leadership to secure equitable treatment • Deeper consideration should be given to the strategic relationship between development of available Dania Beach properties and the City’s financial future.

20. Marketing Initiative • Create proprietary list of • marine decision makers • in target industries • Rank and research • companies • Link to Alliance, Enterprise • Florida referrals • Create compelling • information about • Dania Beach • Deliver directly, follow up • Drive to web site

21. Economic Development Goals • Create Jobs – New & Existing Business • Attract capital investment • Improve housing, neighborhood quality of life • Develop a pipeline of prospects • Incubate new small business • Increase private light industrial, office parks • Enhance Dania Beach workforce • Orchestrate funding for projects • Increase public awareness