A Tale of Two Cities

1. A Tale of Two Cities Clayton, MO Pueblo, CO

2. A Tale of Two Cities Clayton MO Affluent Small 16,000 Residents Central Business district 1/9th of sq mile Sophisticated Next to St Louis

3. A Tale of Two Cities • Central Business District – Economic Engine • 1976 - 4.5 Million Sq Ft – Class A Office Space • 1992 - 8.5 million Sq Ft – Class A Office Space • County Seat • Alternative to Downtown St Louis • Point of Sale – Sales Tax • Supplied 85 % of General Fund Revenue

4. A Tale of Two Cities Keeping the “Golden Goose” healthy was a daily priority

5. A Tale of Two Cities Economic Development in Clayton Two Worlds – Residential Central Business District Residential – Built out – Infill – strong Architectural Reviews Snobby - probably

6. A Tale of Two Cities Central Business District Developer Friendly Strong Architectural Reviews From every perspective Set backs, lighting, height, signs, color landscaping, parking garage, etc

7. A Tale of Two Cities Corporate Clients Coin Accepters Graybar Electric Enterprise Leasing Apex Oil 7 – Up General Dynamics Chromalloy American

8. A Tale of Two Cities Recruiting New Clients Corporate Site Locators Friends Developers Some advertising No financial incentives So - why Clayton?

9. A Tale of Two Cities Central in the U.S. Also in the “Bible Belt” In St Louis, but not in St Louis Excellent Air Service Culture Friendly Tax Structure Quality Services Near Executive Housing Best School District in MO

10. A Tale of Two Cities Keeping Clients Reasonable Requests were entertained Quality Services maintained Safety and Security maintained Community Politically stable Financially stable Common Sense – no puff and fluff

11. A Tale of Two Cities • Pueblo, CO Not Affluent Not Small 105,000Residents Central Business District – old / scattered Unsophisticated Next to Nothing

12. A Tale of Two Cities • No well defined Economic Engine • Until 1986 – single industry – steel making 1986 – Steel closed – 8,500 jobs gone • County Seat • Alternative to nothing – Colorado Springs 40 miles north, Denver 100 miles north • Point of Sale – Sales Tax • No single source of General Fund Revenue

13. A Tale of Two Cities Making a “Golden Goose” was a daily priority

14. A Tale of Two Cities • Economic Development in Pueblo One World – Residential – Built out Central Business District -minor Full focus on Industrial Park Located at Pueblo Airport Federal Land

15. A Tale of Two Cities Industrial Park Only one Developer – PEDCO/PDF No Architectural Reviews Shell Buildings constructed on Spec by Pueblo Development Foundation 501 c 6 Marketed by PEDCO Construction/Incentives Funded by ½ Sales Tax -$6 million per year

16. A Tale of Two Cities • Corporate Clients Trane A/C Boeing DAS Aviation Adams Aircraft Vestas – Towers

17. A Tale of Two Cities Recruiting New Clients Corporate Site Locators Friends Developers Extensive Advertising Large financial incentives So - why Pueblo?

18. A Tale of Two Cities Left of Center in the U.S. In the “Dry Sand Belt” Not in Colorado Springs, Not anywhere Poor Air Service Culture is considered a dirty word Friendly Tax Structure is Negotiable Municipal Services not a Plus Near OK Worker Housing “Can be trained” worker force

19. A Tale of Two Cities Keeping Clients Reasonable Requests were entertained most were not Quality Services not an issue Safety and Security an issue Community Politically unstable, unsophisticated Financially stable Little common Sense – mostly puff and fluff

20. A Tale of Two Cities What can we learn from these two cities? Every City is different Even a Pigs Ear can be made acceptably attractive

21. A Tale of Two Cities Work with your “raw” materials Learn what “tools” you need If Economic Development is a major goal, treat it as such Be Patient – Vestas – 1999-2008

22. A Tale of Two Cities Value to Pueblo Vestas - $11,000 given for building 450 jobs 10 Year value to Community $1.7 Billion

23. A Tale of Two Cities Questions