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TACOMA INDUSTRIAL DISTRICTS’ ROLE IN THE LOCAL ECONOMY

TACOMA INDUSTRIAL DISTRICTS’ ROLE IN THE LOCAL ECONOMY. Ellen Walkowiak and Robert Levin Community & Economic Development Department November 2012. INDUSTRIAL DISTRICT LOCATIONS. INDUSTRY PROFILE. WHY INDUSTRIAL.

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TACOMA INDUSTRIAL DISTRICTS’ ROLE IN THE LOCAL ECONOMY

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  1. TACOMA INDUSTRIAL DISTRICTS’ ROLE IN THE LOCAL ECONOMY Ellen Walkowiak and Robert Levin Community & Economic Development Department November 2012

  2. INDUSTRIAL DISTRICT LOCATIONS

  3. INDUSTRY PROFILE

  4. WHY INDUSTRIAL • Manufacturing workers earn $11,325 annually more on average (including pay and benefits) than non-manufacturing employees • Generates considerable economic multiplier • Supports sustainable use of existing assets • Contributes to diversified economy

  5. MAJOR EMPLOYERS (≥50 EMPLOYEES)

  6. MAJOR EMPLOYERS • 50 – 150 Employees (Total of 43 firms) • Carlson Formetec • Globe Machine Manufacturing • 151 – 250 Employees (Total of 11 firms) • Concrete Technology Corporation • General Plastics Manufacturing • 251 – 500 Employees (Total of 3 firms) • Bradken Foundry • Manke Lumber Company • >500 Employees (1 firm) • Simpson Investment Company

  7. PRODUCT INNOVATION • Nanomaterials (GR Silicates) • Ultra-high molecular weight polyethylene (Polymer Industries – world’s 3rd largest producer) • Ion-charged water to treat inflammatory diseases (Revalesio)

  8. INDUSTRIAL STATISTICS • $13 million paid annually to City in B&O taxes • Schnitzer Steel Industries Inc. and U.S. Oil Refining among City’s top 10 B&O tax contributors • $3.6 million paid annually to City in property taxes • 12,200+ jobs • $68,806 ($33.08/hour) - annual average manufacturing wage

  9. Recent Expansions

  10. Site-Specific Analysis of INDUSTRIAL Sites in Tacoma

  11. SITE LOCATIONS

  12. Site-Specific Analysis • All sites have good transportation access and can accommodate minimum 50,000 sf buildings • Most sites have minimal environmental liability risk

  13. Site-Specific Analysis • Sites are not development-ready • Substantial infrastructure investment required in 4 sites • Additional site preparation work on 3 sites • Other site challenges include easements, existing rail or future roadway that would bisect property

  14. Regional Analysis of INDUSTRIAL buildings/sites

  15. Regional Analysis • Tacoma is the largest, most urbanized area, but has least industrial land product currently available • Many of Tacoma’s industrial structures are obsolete • 80% (61) of Tacoma’s available industrial buildings constructed pre-1969 • Nearly 85% (22) of Sumner’s available industrial buildings constructed post-1999 • No building developments are proposed in Tacoma

  16. Regional Analysis

  17. Regional Analysis

  18. Regional Analysis

  19. Tacoma’s Opportunities to Attract INDUSTRIAL Investment • Proximate to growing markets in Puget Sound, Pacific NW, California, China and other areas • Local industrial sites that can be made available for development have excellent transportation access • I-5, SR-509 and SR-7 • BNSF, UP and Tacoma Rail lines • Adequate backbone utility infrastructure in place

  20. Tacoma’s Opportunities to Attract INDUSTRIAL Investment • Qualified local labor pool • Very competitive electric rates and high reliability • Extraordinary quality and quantity of water available • Supportive business climate and incentives • Job tax credits • Financing and energy efficiency rebates • Business-friendly development process

  21. Tacoma’s challenges to Attract industrial Investment • Lack of suitable, development-ready sites • Antiquated buildings that require modernization • Investment needed in site infrastructure • Few resources and incentives to compete globally

  22. recommendations • Proactively enable existing companies to expand and support those in jeopardy of relocating in cooperation with EDB and Chamber • Partner with Port to sustain growth of Tacoma companies • Establish Industrial Business Association to retain, expand and attract companies

  23. recommendations • Solve development challenges collaboratively • North access road to BNSF site • Redevelopment of former Nalley’s site • Work with TPU to identify best industrial buildings for energy efficiency upgrades • Market development sites, competitive utility rates, system reliability and business incentives

  24. DISCUSSION Questions?

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