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Fundamental Proposition. Cities and towns have the ability to create their own destiny, but they can benefit from having sophisticated partners who can help them develop tools and information to compete successfully. . Deal Makers. Deal Breakers. City Self-Assessment. . . . . City Action. Deal Bre
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2. Fundamental Proposition
3. Deal Makers
4. Deal Breakers/Deal Makers Cities often fail to adequately understand how the global economy is changing
Cities often suffer from widespread misperceptions about their strengths and weaknesses
What attracts investment to your city may be different than what you think
What hinders investment in your city may be different than what you think
5. Deal Breaker #1
6. Deal Maker/Action Steps The Economic Development Partnership has created a powerful self-assessment tool for cities to better clarify their economic development goals and identify their competitive strengths and weaknesses relative to other urban locations.
Through the Economic Development Self-Assessment Tool (EDSAT), cities now have access to the best thinking of private sector site location specialists to undertake an internal review of all aspects of their own community’s development process.
The Economic Development Partnership is also able to provide ongoing economic development training for municipal leaders and managers that focuses on how to respond to opportunities in various industrial sectors.
7. Deal Breaker #2
8. Deal Maker/Action Steps
EDSAT assists city officials in combining resources to better market their communities and respond to inquiries from firms, developers, and location specialists.
EDSAT assists cities in making their websites more attractive to business by providing the information that businesses need to know in order to make rational decisions about locations.
9. Deal Breaker #3
10. Deal Maker/Action Steps Encourage the enactment of urban overlay zoning districts where there can be flexible use, expedited permitting, focused public safety efforts, and amenity packages essential to creating competitive advantage in an urban setting.
12. Deal Maker/Action Steps
Make changes in the brownfields regulatory program to facilitate re-use of urban sites to facilitate faster clean up and further limit liability.
Change state rules overseeing municipal property taxation that force new owners to pay delinquent taxes of previous owners.
13. Deal Breaker #4
14. Deal Maker/Action Steps Identify market ready sites and have them pre-permitted for industrial and commercial uses. The marketing of pre-permitted urban parcels can be done through city web sites, site finder services, and other commercial site services.
Empower someone in the administration to specifically oversee the development process and respond aggressively and proactively to the needs of firms considering the city as a site for location.
Create a permit system that allows for a single presentation of a development proposal to all boards with jurisdiction in the city and establish a specific time frame for community response in the initial stage of the review process.
15. Deal Breaker #5
16. Deal Maker/Action Steps Use the Tax Increment Financing program to create revenue streams for critical infrastructure in urban locations.
Site state and municipal facilities in urban locations to stimulate creation of amenities and other attractions to spur private sector commercial and industrial investment.
17. Lead Actors State Governments
City Governments
Regional Agencies
Business
Vocational/Technical Schools, Community Colleges, Universities
18. The Local Economic Development Self-Assessment Process We surveyed corporate real estate and development professionals on location decisions:
NAIOP (National and Massachusetts Chapter)
CoreNet Global
Based on the NAIOP/CoreNet survey the Economic Development Self-Assessment Tool (EDSAT) for Municipal Leaders was created
19. Sample
20. NAIOP/CoreNet Survey Categories Permitting Processes
Labor
Development and Operating Costs
Business Environment
Transportation and Access
Quality of Life/Social Environment
21. Which location factors received the highest scores? On-site parking
Rental rates
Availability of appropriate labor
Timeliness of approvals and appeals
22. Which location factors received the lowest scores? Municipal minimum wage law
Access to rail
Strong trade unions
23. Survey ResultsMean Scores for All Factors (1 = Very Important; 4= Unimportant)
24. When asked what they thought was most critical, what did location specialists tell us? Proximity to major highways, airports, and transportation routes
Rents, land costs, and lease costs
Availability of appropriate labor pool
Permitting, approvals, and appeals processes
Amenities and services nearby
Pro-business/development friendly city
…consistent with our survey results
25. The Self-Assessment Tool (EDSAT )
26. What the Tool Does
27. The Framework for the Tool City officials and staff working together answer over 200 questions in 10 categories
The results of the Self-Assessment Tool are secure and provided only to the local officials. Each community can choose to share the results at their own discretion
The results provide an ability to ascertain a community’s economic development strengths, weaknesses, opportunities and threats
28. Interpreting the Results The community’s results are color-coded to provide rapid analysis of how they are doing relative to peer communities
For each Self-Assessment Tool section, the results are interpreted in terms of what development and location specialists consider most important, somewhat important, and less important to attracting investment and jobs
29. EDSAT Testimonials What folks are saying
32. Sample Questions & Results A Brief Test Drive of EDSAT
33. Sample Question 1 What is the prevailing average hourly wage rate for mid-level clerical workers?
$6.50 or less
$6.51-$7.50
$7.51-$12.50
$12.51-$20
$20+
34. Sample Question 2 Do labor unions have a significant presence in the labor market of your jurisdiction?
Very much
Somewhat
Not at all
35. Sample Question 3 How many major public or private four-year colleges or universities are within 10 miles of your jurisdiction?
0
1-3
4+
36. Sample Question 4 Does your jurisdiction use the existing Tax Increment Financing (TIF) or other programs to provide tax breaks to businesses?
Yes
No
37. Sample Question 5 What is the tax rate on industrial/commercial property per $1,000 valuation?
$ 0- 10.00
$ 10.01 – 20.00
$ 20.01 – 35.00
$ 35.00 +
38. Sample Question 6 The closest major/international airport is how many miles away?
0-5 miles
6-10 miles
11-20 miles
20-30 miles
31+ miles
39. Sample Question 7 What proportion of existing development sites within your jurisdiction have the following within 1 mile? a. Fast food restaurant
All
Most
Some
Few
None
40. Sample Question 8 What percentage of available sites for general office space have on-site parking?
0%
1-25%
26-49%
50-74%
75%+
41. Sample Question 9 What percentage of available sites are within 2 miles of an entrance or exit to a limited access major highway?
0%
1-25%
26-49%
50-74%
75%+
42. Sample Question 10 What is the average time (in weeks) from application to completion of the review process for the following? Building permit
0-4
5-8
9-12
13-24
25-36
36+
43. Sample Result 1
44. Sample Result 2
45. Sample Result 3
46. Sample Result 4
47. Sample Result 5
48. Sample Result 6
49. Sample Result 7
50. Sample Result 8
51. Sample Result 9
52. Sample Result 10
53. Customized EDSAT Reports In a typical report you will find:
A summary of responses to the self-assessment questionnaire
A peer analysis that highlights how responses compare to those from all other cities that have participated in the Economic Development Partnership
Insights and comments from the Dukakis Center staff to help you think about these issues in a concrete, actionable way
A ranking system noting which issues are more important to the development community
54. We hope that your community will join in the Economic Development Partnership and participate in the EDSAT program
Thank you
Barry Bluestone
Marc Horne
Heather Seligman
Daniel Spiess
Nancy Lee
55. 617-373-7870
www.economicdevelopment.neu.edu