Grow Fernley, NV December 3 2010

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Existing small to medium size business have more of a potential to create jobs.

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Grow Fernley, NV December 3 2010

  1. 1. Grow Fernley: Creating Opportunities to Grow the Local EconomyPresented byFred Turnier, AICPCommunity Development Director 1
  2. 2. Snapshot of Fernley Population:18,929 Median age:34.8 College degrees:12% Median household income (2008): $56,614 60% of workforce commutes 2
  3. 3. SnapshotOccupation Profile Manufacturing: 25% Trade/Transportation: 24% Professional & Business Service: 15.13% Construction:13% Leisure & Hospitality: 12.2% Natural Resources - Agriculture: 7.5% Other: 3.17% (Angelou Economics, 2006; City of Fernley Business License) 3
  4. 4. SnapshotQuality of life and physical infrastructure Silverland Intermediate School 4
  5. 5. SnapshotQuality of life and physical infrastructure Desert Lakes Golf Community 5
  6. 6. SnapshotQuality of life and physical infrastructure St. Robert Bellarmine Catholic Church 6
  7. 7. SnapshotQuality of life and physical infrastructure St. Robert Bellarmine Catholic Church 7
  8. 8. SnapshotQuality of life and physical infrastructure Nevada Pacific Parkway Exit 50 8
  9. 9. SnapshotQuality of life and physical infrastructure Fernley Water Treatment Plant 9
  10. 10. SnapshotNational & Large Business Amazon.com Agru America, Inc MSC Industrial Lowe’s Nevada Cement Sherwin Williams Starbucks Southwest Gas Trex Co UPS Worldwide Logistics, Inc/Honeywell Walmart Worldcolor Printing 10
  11. 11. SnapshotSmall & Medium Business Mirage Garden & Gifts Steve’s Homemade Ice Cream Louis’ China Bistro Chuckar’s Casino Electric Sun Salon Sushi Motto Wig Wam Restaurant Financial & Professional Services Electricians, Plumbers 11
  12. 12. SnapshotHome-based Business Artists 254 home based Book Keeping businesses in Fernley- Catering Roughly 25% of Fernley’s economy Cleaning Services Consulting Services Approximately 98% of Contractors home-based businesses self-financed Day Care/Pre-school Home Repair Services Internet Sales & Service Landscape Services Massage Therapy Photography Professional Services Tax Preparation 12
  13. 13. SnapshotHome-based Business 45 to 64 year olds most likely to start new business The Kauffman Foundation predicts a "coming entrepreneurship boom" among people ages 20 to 34. As the recession forces teens to look outside the limited job market, many are considering entrepreneurship as a viable alternative. 13
  14. 14. SnapshotHistorical Context Rapid growth 1999-2007 Fastest in the nation @ 18% National companies choosing Fernley National homebuilder development 2008 Flood National recession (2007-offical end June 2009) Lyon County and Fernley Hit Hard County Unemployment @ 18% Home values down 25.86% Median home values fall $114,150 Foreclosures @ 1 in 5 homes, highest in the nation (State Demographer, U.S. BLS, 11/2010; RealtyTrac 2010) 14
  15. 15. SnapshotEconomic Development Chaos No strategic plan Dependent on developers Traditional recruiting model has not worked in this economy (hunting for companies vs. growing our own) Job growth @ -0.35 Recession forcing us to look at new approaches Mayor & Council make Economic Development priority 15
  16. 16. Fernley Mayor & City Council Charge Develop and focus on economic development strategies - recruitment, expansion, retention Creating good and sustainable jobs for residents Support local entrepreneurship Capture local income Grow local economy 16
  17. 17. Grow Fernley ApproachHow Do We Grow the Local Economy? Traditional strategies – recruitment, expansion, retention NCED EDAWN NNDA WNDD Support local entrepreneurship – small and medium sized businesses (SMBs) that want to grow a.k.a Economic Gardening or “Grow Fernley” Business Support Services: Information, Infrastructure, Connections Community Technology Center: Resources, Training, Workforce Development Strategic Business Networks: Partnerships, Shared Resources/Customers, Industry support & clusters 17
  18. 18. Grow Fernley BasicsGoals & Strategies Small and home-based businesses create jobs Grow-your-own vs. “hunting” or recruiting Focus on strategic information Community collaboration Help existing businesses stabilize and grow Create new jobs Generate new investments in our community 18
  19. 19. Grow Fernley BasicsEconomic Gardening ModelThree major components and focus: Information – advice, technical assistance and competitive research Infrastructure – physical and quality of life amenities Connections – community partnerships and business networks 19
  20. 20. Grow FernleyRole of Community DevelopmentInformation, Infrastructure, Connections Partner with college business and entrepreneurship programs – Higher education-Workforce connections UNR Business Development, WNC, SBA, DETER, Job-Connect Support and initiate local economic development initiatives Provide rich set of business resources, pathfinders and links NxLevel, SBA, Support local innovation and tech transfer programs Develop local “community of practice” to assist with research for local businesses Community Technology Center/Business Resource Center Technical assistance resources Community Assessment 20
  21. 21. 21
  22. 22. Grow FernleyRole of Community Technology Center (LCSD Broadband Grant)Information, Infrastructure, Connections Promote academic achievement Equip future workers for knowledge economy (innovative thinking) Support youth entrepreneurship Business information eCommerce training Advanced management techniques systems thinking temperament complexity theory customer service strategies 22
  23. 23. Grow FernleyRole of Grants AdministrationInformation, Infrastructure, ConnectionsIdentifying and Leveraging Infrastructure & Quality of Life Assets Over $20 million in active and applied for federal funds $4.5 million in water infrastructure projects $11.2 million in transportation projects Silver Lace Railroad Crossing $500,000 Out of Town Park Improvements $500,000 Main Street Redevelopment $750,000 Hardie Lane Improvements $500,000 City Hall Solar Energy Conversion $750,000 Civic, Convention Center $3.5 million Phase 1 Downtown Pocket Park – $95,000 Gateway to Black Rock (Burning Man) Market Capture Tourism Grant $22,000 Access to Health Care $200,000 Leveraging Taxpayer Dollars with Grants Linking grant development funds to local jobs and infrastructure 23
  24. 24. Grow FernleyExit 46 Gateway Improvements 24
  25. 25. Grow FernleyMain Street Revitalization 25
  26. 26. Grow FernleyCivic Convention Center 26
  27. 27. Grow FernleyCommunity Connections City of Fernley NV Energy Lyon County School Pyramid Lake Paiute Tribe District Bureau of Reclamation Lyon County Fernley Builder’s Nevada JOIN, Job-connect Association UNR Business BAWN Development Center Fernley Chamber EDAWN Realtors NNDA Local businesses, WNDD merchants and service State of Nevada organizations NCED NDOT Business & Industry 27
  28. 28. Resources Global Entrepreneurship Monitor; U.S. Census Bureau; Intuit Future of Small Business Report: Demographic Trends and Small Business; Kauffman Index of Entrepreneurial Activity Growing Local Economies, Inc. Denver, CO www.growinglocaleconomies.com Grow Your Own; Stanford Graduate School of Business, Stanford Social Innovation Review, Winter 2010 Purdue Extension & Purdue Center for Regional Development, Purdue University Strengthen Your Local Economy through Economic Gardening, by Christine Hamilton-Pennell, ICMA: http://icma.org/en/Article/100633/Seven_Steps_to_Developing_an_E conomic_Gardening_Implementation_Strategy 28
  29. 29. For more informationCity of Fernley:595 Silver Lace BlvdFernley, NV 89408Mayor LeRoy Goodman775-784-9857City ManagerGreg Evangelatos775-784-9858Community DevelopmentFred Turnier, AICP775-784-9902Grants AdministrationLeslieann Hayden775-784-9851 29

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