Maricopa EconomicDevelopment Update     December 8, 2011
Local Development Situation• Residential vacancy since January from 10% to 8%• Influx of Canadian visitors/homeowners - 30...
Housing: Months’ Supply                                              Maricopa                                             ...
2010 Crime Rate Comps                                                        45           60                        15    ...
Trade Area Demographics               • Left: 15-minute drive time               • 2010 Census: 43,482               • Ave...
Key Initiatives• June 2011 completion of Economic Development  Strategic Plan• Product development for business attraction...
Projects Underway• Over $150 million in total capital investments in  projects under development• Over $40 million of that...
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  – ...
Redevelopment (Heritage) District                                      347  Nightengale                                   ...
Partnerships and Local Business            Support• Small business  initiatives  – Maricopa20 programming    (Business Bea...
Thank You.Additional information: MaricopaMatters.com          520-316-6992
2011 5th Annual Economic Outlook Forum - City Update
2011 5th Annual Economic Outlook Forum - City Update
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2011 5th Annual Economic Outlook Forum - City Update

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2011 Economic Outlook Forum, City development update presented by Danielle Casey.

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  • How do we stack up?\n\nWhen comparing 11 valley cities, Maricopa has 2nd to the lowest overall crime rate per 1000 residents.\n\nFor my children and grandchildren, if they have to live someplace other than Maricopa, I guess Gilbert isn’t too bad.\n
  • This is a snapshot of commercial vacancy rates in the 4Q 2010\n \nEven at 6.2, commercial vacancy rates in Maricopa remain much less than comparable cities. \n
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  • 2011 5th Annual Economic Outlook Forum - City Update

    1. 1. Maricopa EconomicDevelopment Update December 8, 2011
    2. 2. 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
    3. 3. 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
    4. 4. 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
    5. 5. 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)
    6. 6. 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
    7. 7. 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
    8. 8. Banner Health CenterPhase I - $15 mSmith Group, DPR ConstructionOpening summer 2012
    9. 9. Central Arizona CollegePhase I: 76,000 sq ftSpring 2013 first classes
    10. 10. Municipal ComplexPhase I: 20 acres45,000 sq ft City Hall10 acres for private use
    11. 11. Recreational ComplexIn planning process, bond fundedFrontage for private use
    12. 12. Holiday InnExpress & Suites2 other pads available at siteFinalizing ADOT review
    13. 13. Pinal Power, LLC30 MW Biomass facilityPre-application in next 60 daysFinalizing air permits
    14. 14. Estrella PropertyFire station, PW yardAmtrak relocationP3 for business park
    15. 15. 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
    16. 16. Redevelopment (Heritage) District 347 Nightengale SR SR 238 Edison Green Ra Honeycutt ilr oa d
    17. 17. 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
    18. 18. Thank You.Additional information: MaricopaMatters.com 520-316-6992

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