2011 5th Annual Economic Outlook Forum - City Update

Maricopa EconomicDevelopment Update December 8, 2011

Local Development Situation• Residential vacancy since January from 10% to 8%• Influx of Canadian visitors/homeowners - 30% of Province community• Affordable: Median home price of $93,600, Q3 2011• Several commercial properties are ‘resetting;’ and seeing increased interest• Low commercial vacancy rate (7.5%), higher NNN cost• Lack of shovel-ready sites but initiatives underway• Prospect activity is UP

Housing: Months’ Supply Maricopa Mesa 4.0 Phoenix 4 Scottsdale Tempe 3.0 3 2.5 2.4 Maricopa’s months1.6 2 supply of listings is lower than comparable Valley cities. 1 July 2011 0

2010 Crime Rate Comps 45 60 15 30 0 21GilbertMaricopa 26Scottsdale 28El Mirage 29Chandler 33Mesa 37.8000Phoenix 45.5Tempe 54.2000Avondale 55.1000TucsonGlendale 58.1000 59.3000 Overall crime Rate per 1,000 residents

Trade Area Demographics • Left: 15-minute drive time • 2010 Census: 43,482 • Average age 31 • Trade area of up to 61,501 • 55% have incomes over $75k • 88% have post-HS education • SR 347 at over 43,000 vehicle trips daily • Significant retail leakage (0.2)

Key Initiatives• June 2011 completion of Economic Development Strategic Plan• Product development for business attraction (office space, park feasibility) – business park creation at Estrella Gin• Target industry growth & attraction• Entrepreneur support / incubator facility• Higher education• City developments with P3 components

Projects Underway• Over $150 million in total capital investments in projects under development• Over $40 million of that total will be invested in the next 18 months• www.maricopamatters.com for details on each

Banner Health CenterPhase I - $15 mSmith Group, DPR ConstructionOpening summer 2012

Central Arizona CollegePhase I: 76,000 sq ftSpring 2013 first classes

Municipal ComplexPhase I: 20 acres45,000 sq ft City Hall10 acres for private use

Recreational ComplexIn planning process, bond fundedFrontage for private use

Holiday InnExpress & Suites2 other pads available at siteFinalizing ADOT review

Pinal Power, LLC30 MW Biomass facilityPre-application in next 60 daysFinalizing air permits

Estrella PropertyFire station, PW yardAmtrak relocationP3 for business park

Redevelopment Efforts• Redevelopment Plan adopted by Council in July 2009 – Property tax incentive opportunities – 2nd $50,000 grant from Gila River Indian Community• Cleanup efforts – blight removal, design guidelines• Amtrak station relocation for tourism

Redevelopment (Heritage) District 347 Nightengale SR SR 238 Edison Green Ra Honeycutt ilr oa d

Partnerships and Local Business Support• Small business initiatives – Maricopa20 programming (Business Beat) – Business Retention Program – Startup classes – New pilot technical assistance program• Entrepreneurial assistance – Tech Training

Thank You.Additional information: MaricopaMatters.com 520-316-6992

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2011 5th Annual Economic Outlook Forum - City Update

by City of Maricopa on Dec 08, 2011

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2011 5th Annual Economic Outlook Forum - City Update — Presentation Transcript