City of Peoria, AZ- Investment conference

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City of Peoria - Economic Development Services Department: EDS is designed to expedite and facilitate economic development activities in Peoria. Our aim is to build a diversified local economy that will create a strong and sustainable community in which residents are able to work, shop, and be entertained. ED’s core services are business attraction, business retention, small business, redevelopment and workforce development. Learn more at www.peoriaed.com

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City of Peoria, AZ- Investment conference

  1. 1. Peoria investment conference<br />Investment and Development Opportunities in Peoria<br />
  2. 2. Today’s Presentation<br />Economic Development Implementation Strategy (EDIS)<br />Peoria Assets<br />Economic Development Initiatives<br />Current Activities<br />Quick Facts on Peoria<br />Available Space<br />Premiere Vacant Properties<br />Economic Development Incentive and Investment Policy<br />City Priorities<br />
  3. 3. Peoria Investment Conference<br />Welcome to the Peoria Investment Conference!<br />Economic Development is the city’s priority<br />We have a game plan<br />We are willing to invest and have created framework to legally do so (City North compliant)<br />We have funds to invest and a AA+ bond rating<br />We have premiere locations ready for development<br />We are able to help you get your project done<br />We are looking for strategic partners to help us take advantage of key development opportunities<br />
  4. 4. Economic Development Implementation Strategy (EDIS)<br />2010 Economic Development Implementation Strategy developed by Wadley Donovan Growthtech and adopted by City Council October 17, 2010<br />Economic Base Analysis/Targeted Industry Analysis<br />Business Climate Assessment (SWOT)<br />Workforce, infrastructure, available sites, transportation<br />Retail Potential Analysis<br />Program and Plan Exploration<br />
  5. 5. EDIS Key Findings<br />Workforce<br />Technologically-skilled;<br />High knowledge workforce<br />Diversified occupational base matching or exceeding natl. avg. for US Dept. of Labor’s 23 occupational categories<br />Much higher than natl. avg. in 2-yr and certifications (39%); slightly lower than the natl. avg. for 4-yr degrees<br />93% out-commute for jobs<br />Young, flexible, strong basic skills<br />
  6. 6. EDIS Key Findings<br />Economic Base<br />42% in retail, food service, and accommodations<br />19% in health care<br />9% in construction<br />Shortage of engineering degree programs<br />Recruiting difficulties for highly specific jobs<br />NOT DIVERSIFIED<br />
  7. 7. EDIS Key Findings<br />Infrastructure Assets<br />Public water and sewer services that meet current development needs, and excellent planning of and investment in future capacity<br />Electric power availability and costs that support future economic development<br />Availability of natural gas service at reasonable prices<br />Telecommunications services that meet business needs <br />Strong transportation assets – Interstate overnight access to multistate regional markets <br />Available land and good short-term inventory of space<br />
  8. 8. EDIS Key Findings<br />High Quality of Life<br />Money Magazine listed Peoria in the "Top 100 Places to Live"<br />Cultural and recreational offerings in the City and metro area are diverse, and outdoor recreational opportunities are plentiful<br /><ul><li>Low crime rate – below those of the state and nation
  9. 9. High performing public schools. The Peoria Unified School District has higher graduation rates and lower dropout rates than the state average
  10. 10. Housing at multiple price points </li></li></ul><li>EDIS Key Findings<br />Strong City Government and Streamlined Development Process<br />Aggressive ED focus of City Council<br />Adoption of key ED policies and programs<br />Improved customer service development focus with one-stop shop approach<br />Expedited plan review process <br />
  11. 11. Strategic Initiatives and Current Situation<br />University Recruitment<br />Higher education feasibility study in 2010 resulted in 31 universities naming Peoria as possible site for future expansion<br />Contract with university recruiter<br />Exclusive negotiating agreement with Ottawa University for residential campus at Peoria Place<br />
  12. 12. 4 University Locations<br />
  13. 13. Strategic Initiatives and Current Situation<br />Investment Zones<br />Zones to stimulate targeted development through city direct investment (public investment as well as development incentives) and aggressive development partnerships<br />Emphasis on redevelopment and catalytic economic opportunities<br />
  14. 14. Investment Zones<br />5 Investment Zones:<br /><ul><li>Entertainment District
  15. 15. Old Town
  16. 16. Loop 303
  17. 17. Plaza del Rio/Loop 101
  18. 18. Northern Corridor</li></li></ul><li>Strategic Initiatives and Current Situation<br />Health Care Strategy and Recruitment<br />Completed health care feasibility study 2010<br />Health care = 19% of Peoria workforce<br />Strong asset in Plaza del Rio 185-acre campus<br />Create a medical device incubator<br />Develop a recruitment program for health care practitioners<br />Determine opportunities for health care systems and recruitment<br />
  19. 19. Strategic Initiatives and Current Situation<br />Business Assistance Program<br />Add more resources to existing small business and business retention programs<br />Strategic Land Assembly<br />Identify and secure key parcels for targeted development focusing on investment zones<br />Medical Device Incubator<br />Proposed opening Q4 2011<br />Partnership with BioAccel and CORE Institute <br />
  20. 20. Quick Facts on Peoria: Entertainment District<br />2010 – Adopted Urban Redesign Master Plan targeting infill development<br />35 acres of public parking / 20 acres of vacant land<br />
  21. 21. Quick Facts on Peoria: Entertainment District<br />Contracted with Gensler in October 2010 to create identity for the area, improve connectivity, establish location as destination<br />2009 Avg. HH Income = $81,455<br />29% of HH Incomes in 2009 > $100k<br />260,000 people in 10-minute radius<br />ADTs for Loop 101 = 127,000; Bell Rd = 69,000<br />
  22. 22. Quick Facts on Peoria: Entertainment District<br />RFP out for the Sports Complex parking lot (17 acres). Proposals due January 24th<br />Current development project “It’s All in the Game”<br />
  23. 23. Quick Facts on Peoria: Old Town<br />University Recruitment at Peoria Place single most important economic catalyst in Old Town<br />City investing $80 Million in physical improvements<br />Commercial Rehabilitation Program committed to pay 100% of improvements to Old Town Commercial Properties<br />2009 average HH Income = $69,009<br />300,000 people in 10-minute radius<br />ADTs for Hwy 60 (Grand Ave.) = 30,000; Peoria Ave. = 18,952; 83rd Ave. = 15,000<br />
  24. 24. Quick Facts on Peoria: Northern Peoria<br />Loop 303 scheduled to open this Spring – connects I-10 to I-17<br />Population growth rate projected 4.5% (2009 10-minute radius = 33,452)<br />2009 average HH Income $87,897<br />39% of HH Income’s in 2009 > $100k<br />Vistancia Master-Planned Community<br />
  25. 25. Available Space - Industrial<br />Empire Business Center (NEC Cactus & 91st Avenue)<br />44,000 SF available<br />Loop 101 access – freeway visibility<br />Western Maricopa Enterprise Zone<br />
  26. 26. Available Space - Industrial<br />Cabot Commerce Center (NEC Cactus & Loop 101)<br />200,000 SF available – 24’ ceilings<br />Loop 101 access – freeway visibility<br />Western Maricopa Enterprise Zone<br />
  27. 27. Available Space - Industrial<br />Hi-Macs Bldg. (8009 W. Olive)<br />50,000 SF available – 24’ clear heights<br />Fenced Paved Yard<br />Western Maricopa Enterprise Zone<br />
  28. 28. Available Space - Industrial<br />Arrowhead 101 Business Park (NWC Loop 101 & Thunderbird)<br />300,000 SF available – 24-30’ clear heights<br />Freeway visibility<br />Adjacent to Rio Vista Park<br />
  29. 29. Available Space - Office<br />Lake Pleasant Medical Plaza (10204 W. Happy Valley Rd.)<br />25,000 SF Class A medical office space<br />3 miles from Loop 303<br />¼ mile from 1.5 million SF of retail<br />
  30. 30. Available Space - Office<br />Thunderbird Office Park @ 101 (NWC 83rd Avenue and Thunderbird)<br />63,000 SF Class A office space<br />1 mile from Loop 101<br />Built-out spec suites available<br />
  31. 31. Available Space - Office<br />Peoria Center at Arrowhead (SEC 83rd Avenue and Paradise Lane)<br />14,000 SF Class A office space<br />1/2 mile from Loop 101<br />In Entertainment District<br />
  32. 32. Available Space - Retail<br />Lake Pleasant Pavilions (SWC Lake Pleasant & Happy Valley Road)<br />40,000 SF, including 20,000 anchor<br />Super Target Anchor<br />Draws from Upscale Communities <br />2009 pop. in 10-min radius was 33,452<br />2009 HHs with Incomes > $100k = 39%<br />Intersection has 1.5 Million SF of Retail<br />
  33. 33. Available Space - Retail<br />Harley Davidson (16130 N. Arrowhead Fountains Center Dr.)<br />35,500 SF<br />Immediate access to Loop 101<br />Entertainment District<br />2009 pop. in 10-min. radius = 259,564<br />2009 HHs with Income > $100k = 29%<br />
  34. 34. Available Space - Retail<br />Park West (NWC Loop 101 and Northern Ave.)<br />25,000 SF and 7 PADs<br />Immediate access to Loop 101; 2 mi. north of WestGate<br />Mixed use, open air shopping and dining<br />2009 pop. In 10-min. radius = 35,519<br /> 2009 Avg. HH Income = $72,838<br />
  35. 35. Premiere Available Properties<br />Loop 101 Opportunities<br />Saxa Property at Park West: 16 acres<br />Northern/115th: 135 acres<br />95th/Olive: 16 acres<br />107th/Olive: 10 acres<br />Empire Business Park: 4 PADs = 35 acres<br />Plaza del Rio Health Care Campus: 55 acres<br />
  36. 36. Premiere Available Properties<br />Old Town/ Industrial Opportunities – both rail served<br />Rovey Property: 107 acres<br />Mountain View: 20 acres<br />Triad Steel: 18 acres<br />
  37. 37. Premiere Available Properties<br />Loop 303 Opportunities<br />Vistancia Commercial Core: 500 acres<br />Sewer – available capacity = 1.65 MGD<br />Water – available capacity = 3.0 MGD (4.8 MGD by end ‘11)<br />Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months<br />Tierra del Rio: 75 acres<br />
  38. 38. Premiere Available Properties<br />Lake Pleasant Opportunities<br />@CAP canal: 59 acres<br />Westwing Village: 54 acres<br />Promenade: 14 acres<br />@ Jomax: 23 acres<br />@ Yearling: 45 acres<br />@ Pinnacle Peak: 100 acres on 3 corners<br />Happy Valley/95th Ave: 173 acres<br />
  39. 39. Economic Development Incentive and Investment Policy (EDIIP)<br />Adopted December 2010 to formalize city’s intent to pursue targeted economic development<br />EDIIP establishes a framework for the city to directly invest in and assist with business attraction, retention and expansion, and redevelopment as well as ROI template <br />
  40. 40. Economic Development Incentive and Investment Policy (EDIIP)<br />Investment Tools identified:<br />Enterprise Zone<br />Industrial Development Authority<br />Foreign Trade Zone<br />City Direct Investment<br />Lease Revenue Bonds<br />Tax Abatement<br />Government Property Lease Excise Tax (GPLET)<br />Maricopa County Economic Development Fund<br />
  41. 41. Economic Development Incentive and Investment Policy (EDIIP)<br />Eligible Projects Include:<br />1. Capital Investment (min. $250,000)<br />2. Number of jobs created (min. 10)<br />3. Average salary (min. $50,000 plus benefits)<br />4. Average education level required (min. 4-yr degree)<br />5. Targeted industries (manufacturing, business services, healthcare/bio, back office, higher ed, R&D, high tech)<br />6. Redevelopment projects serving to economically reposition unused or underutilized blighted properties<br />
  42. 42. Priority Old Town Projects<br />Peoria Place (126 acres)<br />Peoria Town Center (22.5 acres)<br />Smitty’s Center (7.5 acres)<br />Goodwill Center (9 acres)<br />
  43. 43. Priority 101 Frontage Project<br />Saxa Property at Park West (16 acres)<br />
  44. 44. Priority Entertainment District Projects<br />Sports Complex Parking Lot (17 acres)<br />Entertainment District Redevelopment Opportunities<br />
  45. 45. Priority Northern Peoria Project<br />Vistancia Commercial Core (500 acres)<br />Sewer – available capacity = 1.65 MGD<br />Water – available capacity = 3.0 MGD (4.8 MGD by end ‘11)<br />Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months<br />
  46. 46. Priority Medical Campus Projects<br />Plaza del Rio (55 acres)<br />
  47. 47. Peoria Priority Projects<br />Lake Pleasant Parkway and the Loop 303 (1 square mile of state-owned land)<br />
  48. 48. Conclusion<br />Economic Development Strategy in place<br />Strong workforce<br />Initial success in both higher ed and health care<br />Many development opportunities<br />Priority redevelopment projects<br />Aggressive and focused City Council<br />Established Incentive Policy<br />
  49. 49. We invite YOU to build something with us.<br />Scott Whyte<br />Director, Economic Development Services<br />623-773-7738<br />Scott.whyte@peoriaaz.gov<br />www.peoriaed.com<br />

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