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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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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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