CEDS Outreach - Madison 2012

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Outreach meeting for the 2013 South Central Connecticut CEDS Update

Outreach meeting for the 2013 South Central Connecticut CEDS Update

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  • 1. 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 821 3683 www.rexdevelopment.org
  • 2. Comprehensive Economic Development Strategy Outreach Madison Economic Development Commission September 13, 2012 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 3. Purpose• Prepare a regional Comprehensive Economic Development Strategy (CEDS)• Develop Action Agenda & Outcome Measurements• Ask for your input now, throughout the process, and as a partner to implement the CEDS• Optimize working relationships while developing additional partnerships to further the region as a competitive environment to live, work and play 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 4. REX Development 101• What is REX? – Regional – Collaborative – Facilitator• How was it established?• What is its purpose?• How can REX assist your town? 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 5. Map of South Central Connecticut Region 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 6. Synopsis of 2008 CEDS• Created a focus in 6 areas with 16 objectives that are continually worked on by the public and private sectors – Regional Marketing & Communication – Transportation – Business Development – Workforce & Housing – Land Use Planning, Policies & Regulations – Regional Economic Development Funding 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 7. Key Achievements• First regional economic development organization to receive REDD designation from the State of Connecticut• First Connecticut economic development district to receive official recognition by the federal Economic Development Administration – All 15 municipalities are now eligible to receive federal funding on par with economically distressed communities – $60,000 received from EDA in planning monies – $1.5 M pending from EDA on projects – Millions of new public investment on several EDA projects in the region 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 8. Success Stories1) West Haven – West River Crossing/Bulkhead • $1 million/DECD and $1 million/EDA for bulkhead repair/remediation with construction nearly complete. Enable the 100 acre West River Crossing project to proceed. Creation 12,000 construction jobs and 750 jobs once complete.2) New Haven – River Street (MDP) Redevelopment/Bulkhead • $1 million/EDA funding for repair of bulkhead toward the redevelopment of River Street.3) Hamden – Goodrich/Daisy • $373,000 in funding to cleanup and remediate an abandoned metal finishing facility – collaborative project w/New Haven, created over 20 jobs.4) Branford – Atlantic Wire • $500,000 in funding to cleanup and remediate an abandoned industrial site near center of town– total project $2.8 million creating over 40 new jobs.5) Brownfield Funding • Over the past five years REX has received an additional $600,000 in funding, on top of $2 million in federal and state Brownfield funding. 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 9. Snapshot of Madison & South Central Region in 2010 Madison RegionPopulation 18,269 570,001Households 6,971 222,620Per Capita Income $52,002 $32,849Household Income $108,175 $64,653Median Age 46.6 39.0 Source: US Census Bureau 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 10. Population Changes 1990-2000 2000-2010 Madison 15.32% 2.30% South Central CT 1.85% 4.24% Connecticut 3.60% 4.95% United States 13.15% 9.71%Sources: U.S. Census Bureau, 1990 Census Data Profile 1,Census 2000 Data Profile 1 & 2010 U.S. CensusDemographic Profile Data (Table DP-1) 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 11. Effects of Regionalization Madison Total Tax Revenue = $72 M Property Tax Revenue = $63 M Property Tax Revenue Property Tax Revenue 5.0% Commercial 88.1% Residential Business Inventory: Housing Inventory: 7,686 604 Total 23% 77% Labor Live & of employed Madison Force work in residents work in other 9,793 Madison cities/towns in the region 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 12. Workforce Residents Commuting To Top 10 Employers in RegionMadison 2,270 Yale University NEW HAVENNew Haven 1,107 Yale New Haven Health System NEW HAVENGuilford 603 Southern Connecticut State Unv NEW HAVENBranford 362 Covidien NORTH HAVENClinton 344 Veterans Affairs Connecticut WEST HAVENWallingford 251 Servicom LLC MILFORDWest Haven 235 Anthem Blue Cross Blue Shield NORTH HAVENMeriden 195 Midstate Medical Ctr MERIDENWestbrook 192 Temple Medical Ctr NEW HAVENMiddletown 187 General Counselors Office NEW HAVEN 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 13. Local Businesses Madison Employment by Sector Sector Establishments EmploymentNet Grand List: Construction 7.9% 2.6% Manufacturing 2.3% 2.7% • $3,418,584,858 – 2010 Wholesale Trade 13.1% 4.0% • Up 42.5% since 2006 Retail Trade 10.6% 13.3% Top 5 Employers Transportation and Warehousing 0.5% 0.2% Information 1.7% 1.8% • Stop and Shop Finance, Insurance, Real Estate 8.0% 4.3% • Madison Hse Care/Rehab Prof, Scientific and Tech Services 13.1% 4.8% • VNA Service Inc Mng/Comp and Enter 0.5% 0.0% Admin/Supp/Waste Mng/Rem Serv 6.8% 3.5% • Madison Town/Schools Educ Serv 1.7% 5.0% • Robert’s Food Center Health Care/Soc Ass 11.8% 19.1% Small Businesses – 94.4% Accomm/Food Serv 6.0% 11.0% Other Services 11.1% 4.0% • 98.0%, Uniqueness Total Government 3.1% 18.8% • Local – Cash Mob 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 14. Employment Data for the Region Employment by Sector/New Haven County Utilities 0.3% Const 3.4% Manuf 9.5% Govt 13.9% Whole Trade 4.1% Other 3.7% Educ 7.1% Retail 11.7% Art/Ent 1.1% Tran/Ware 2.1% Inf 1.7% Fin/Ins 3.1% Real Est 1.4% Health/Soc Ass Prof/Tech Serv 4.4% Mgmt of Comp1.1% 18.9% Admin/Waste Mgmt Acc/Food Serv 7.1% 5.0% 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 15. Regional Cluster Performance 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 16. Question 1• What is your vision of economic development in Madison and the region in the next 5 years? Do you see these visions as complementary or divergent? 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 17. Question 2• What are the key components to economic development in Madison and the region? – Strengths – Weaknesses – Obstacles 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 18. Question 3• What roles do you see for the public and private sectors in promoting economic development? – Opportunities – Limitations 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 19. Question 4• What measurements are true indicators of economic growth or decline? 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 20. Question 5• How can we all work together to make the REX Region more competitive? 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org
  • 21. Thank You! We sincerely appreciate your time and guidance in building our regional economic development strategy.Please contact us at any time with questions, suggestions or concerns that you may have. 127 Washington Ave., 4th FL West, North Haven, CT 06473 T 203 821 3682 F 203 782 7755 www.rexdevelopment.org