Economic Achievement
through Mutually Beneficial
      Collaborations
                     Join Economic
                 ...
Economic Development

It’s     all about jobs!!
• Other considerations:
 Being Development Ready

 Retail Attraction

...
ED Impact: City of Kent

   90% of the revenues that fund our city services,
    e.g., police, fire, snow plowing, pothol...
Jobs

   1 minimum wage job
    in the City limits
    contributes as much
    to our general fund
    as someone paying
...
Joint Economic
     Development Districts
   Increasing the tax base, investment &
    commercial activity
   Old City G...
Steps to Creating a JEDD

   Communication & Collaboration with
    Neighboring Community- Unanimous
    Elected Official...
JEDD Area Maps- District
        Defined
Creating/Operating a
        JEDD
JEDDs- Joint Economic
     Development Districts
   JEDD revenues have been experiencing
    continued growth, over $983,...
Distribution Examples

 Franklin Kent JEDD (since February ’07)
• City: $541, 132          Township: $442,744

 Brimfiel...
Marketing the JEDDs
     Districts
Questions & Answers

• Dan Smith, Economic Development
  Director, City of Kent

• Ken Penix, Township Administrator
  Fra...
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2/10/10 - Kent State Intergovernmental Collaboration Forum - Joint Economic Development District (JEDD)

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On February 10, 2010 the Center for Public Administration and Public Policy at Kent State University held a forum on intergovernmental collaboration in Northeast Ohio.

Daniel Smith, Economid Development Director of Kent discussed the economic benefits and challenges to establishing a Joint Economic Development District (JEDD)

Published in: Business, Technology
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Transcript of "2/10/10 - Kent State Intergovernmental Collaboration Forum - Joint Economic Development District (JEDD)"

  1. 1. Economic Achievement through Mutually Beneficial Collaborations Join Economic Development Districts JEDDs
  2. 2. Economic Development It’s all about jobs!! • Other considerations:  Being Development Ready  Retail Attraction  Industrial Attraction  Planning  Incentive Programs  Promotional & Marketing Materials
  3. 3. ED Impact: City of Kent  90% of the revenues that fund our city services, e.g., police, fire, snow plowing, pothole repair, finance, etc., comes from income taxes.  Our total annual budget is in the $37- 38 million dollar range- currently a little higher due to the Crain Avenue Bridge projects and bike trails. Income taxes from employees of local Kent businesses account for roughly 29%, or well over 10 million, in annual revenues.
  4. 4. Jobs  1 minimum wage job in the City limits contributes as much to our general fund as someone paying property taxes on a $146,000 home.
  5. 5. Joint Economic Development Districts  Increasing the tax base, investment & commercial activity  Old City Growth Model- Annexation  Townships cannot pass an income tax, JEDDs allow for win-win  Can increase infrastructure (water, sewer, & utilities) to a district.  Allows for increased joint marketing and promotion of new sites- investment!
  6. 6. Steps to Creating a JEDD  Communication & Collaboration with Neighboring Community- Unanimous Elected Officials Support Important  Negotiate Contracts- Agreement, Boundaries (Large tracts are easier), By-Laws  Sign-up: Voluntary & Conscription  Filing and Amendments
  7. 7. JEDD Area Maps- District Defined
  8. 8. Creating/Operating a JEDD
  9. 9. JEDDs- Joint Economic Development Districts  JEDD revenues have been experiencing continued growth, over $983,8760 in new revenues from the Franklin Township JEDD since February 2007, as businesses and employment continues to increase along the SR 59 corridor, predominantly from the Wal- Mart Plaza (Hibbet Sporting Goods, Good Will Store, Radio Shack additions). The Brimfield JEDD generated $146,791 since December or 1995.
  10. 10. Distribution Examples  Franklin Kent JEDD (since February ’07) • City: $541, 132 Township: $442,744  Brimfield Kent JEDD (since December ’05) • City: $80,735 Township: $66,056 • .5% Maintenance Set-Aside
  11. 11. Marketing the JEDDs Districts
  12. 12. Questions & Answers • Dan Smith, Economic Development Director, City of Kent • Ken Penix, Township Administrator Franklin Township • Thank You
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