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How Economic Development (Jobs) Drives the Housing Market

How Economic Development (Jobs) Drives the Housing Market. Brenda Reine Bertus, Executive Director St. Tammany Economic Development Foundation. November 3, 2011.

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How Economic Development (Jobs) Drives the Housing Market

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  1. How Economic Development (Jobs) Drives the Housing Market Brenda Reine Bertus, Executive Director St. Tammany Economic Development Foundation November 3, 2011

  2. Economic Development DefinedAdding new wealth to a community – through sustained jobs, new jobs, construction projects, and a stronger overall economy that stimulates income growth.

  3. Weaknesses • High taxes• Limited warehouse/ industrial space• Lacks large campus-type business parks• Infrastructure• High land costs Strengths • Quality of Life• High demand • Available land • Infrastructure Improvements• Great state incentives Our strengths and weaknesses often overlap!

  4. Recent SuccessesSt. Tammany EDF has been involved in numerous projects that have brought hundreds of jobs and millions of dollars of capital investment for our community.Associated Wholesale Grocers – 700,000 square foot, $75 million distribution facility in Pearl River, which will bring 310 jobs.Globalstar – High-tech company relocated from Silicon Valley to Covington, bringing 150 jobs. Total employment will increase to more than 500 by 2019.Rooms To Go– 800,000 square foot, $45 million distribution facility in Pearl River, which brought more than 250 jobs.

  5. Completed Projects • 2010 • 14 completed projects • $82 million investment • 88 jobs retained • 593 new jobs • 2011 To Date • 14 completed projects (3 expansions) • $138.5 million investment • 169 jobs retained • 515 new jobs

  6. Our Competition Sugar Land Business Park Sugar Land, Texas The Woodlands Development The Woodlands, Texas

  7. Certified Sites Alabama Sites: 33 Arkansas Sites: 19 Mississippi Sites: 17 LouisianaSites: 9St. Tammany Sites: 1 Our Vision •Have the highest number of certified sites in Louisiana •Interstates with campus-type business parks•Maintenance of green space, tree line, and overall esthetics•Abundant housing options

  8. 2012 Goal: Product Development…and our “Products” are sites and buildings

  9. Where We Were Source: US Census Bureau

  10. Where We Are Heading Source: US Census Bureau, State of Louisiana, Office of Electronic Services, Division of Administration

  11. Our Opportunities • Project Pipeline • 38 active projects • $159,602,900 investment • 463 existing jobs • 1,460 new jobs • New Site Database • Expand Business Retention Program

  12. Why Housing Matters•When businesses choose St. Tammany, they stimulate the Housing Market • Businesses want to see available housing for their employees• New Jobs = New Homes Economic Development and the Housing Market are deeply connected

  13. The future is success for all of us, with new jobs, new residents, richer amenities, clean industry, and an ever-better quality of life that keeps it all moving in the right direction.

  14. Contact us St. Tammany Economic Development Foundation Brenda Reine Bertus, Executive Director • 985.809.7874 • stedfinfo@stedf.org • www.stedf.org

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