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Economic Development Initiative

Economic Development Initiative. New Game Plan A Catalyst for Community Sustainability. International Institute for Sustainable Development defines:. Sustainability: n. meeting the needs of the present without compromising the ability of future generations to meet their own needs.

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Economic Development Initiative

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  1. Economic Development Initiative

  2. New Game PlanA Catalyst for Community Sustainability

  3. International Institute for Sustainable Development defines: Sustainability: n. meeting the needs of the present without compromising the ability of future generations to meet their own needs. …………….86% of local taxes are based on residential use

  4. Current Situation • Lack of Diversity • 85% residential funded • 2% Industrial funded • Collapse of our primary job sector • Unsustainable

  5. Importance of Diversity Cost of Service Study Residents Business Pays: $1.00 Pays: $1.00 Receives $1.18 Receives: $.25 in services: in services 2008 University of California Study

  6. Current Situation (jobs) • Collapse of construction industry • Highest unemployment in State • Seeking employment outside county • Brain Drain- graduates leaving area Unemployment

  7. Our Competitors …………….85% of business referrals will need existing facilities

  8. Our Competitors • Mature infrastructure • Reduced land costs • Lower leasing rates • Existing facilities

  9. Our Community • Lack existing facilities • Lack infrastructure • Lack available Industrial land • Lack competitive lease rates • Lack of consistent incentive funding

  10. Community Strengths …………….17% unemployment means a ready labor force

  11. Community Strengths • Transportation network • Readily available workforce • Advanced communication network • Cooperative government partners • Quality of Life

  12. The Plan ……………..dedicated .25 mil per $1,000 toward economic development

  13. The Plan • Voter approved economic development initiative • Dedicated funds for economic development • .25 mil for 20 years

  14. The Plan Funds generated, approximately $1.8 million per year dedicated to addressing: Capital Funding Projects 60% Funding Incentives 30% Local Expansion/Retention Enhanced Marketing of Community 10%

  15. Cost to Residents • Current Median Home Price $120,600 • Annual cost to property owner • $17.65 • Example • $150,000 $25.00 • $200,000 $37.50

  16. Administration • BOCC will make decisions regarding expenditure • Enterprise Flagler provide support/advice Board comprised of public and private sector As well as elected officials

  17. Community Action …………….17% unemployment means a ready labor force

  18. Important Dates Asking elected officials to support allowing citizens to vote on this matter on November 2, 2010 ballot June 7, 2010 BOCC Authorization June 18, 2010 Election Ballot Deadline November 2, 2010 Election

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