[ ] Business Development

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[ ] Business Development

  1. 1. B u s i n e s s D e v e l o p m e n t T a s k F o r c e D r a f t F i n a l R e p o r t S u m m a r y March 25, 2 0 0 4
  2. 2. Business Development Task Force Acknowledgments <ul><ul><li>Arlene Allen Mitchell, Dynamic Perceptions </li></ul></ul><ul><ul><li>Steve Solomon, Bellsouth </li></ul></ul><ul><ul><li>Peter Quinter, Becker & Poliakoff </li></ul></ul><ul><ul><li>Jerry Watterworth, Union Planters Bank </li></ul></ul><ul><ul><li>Gerry Litrento, Union Planters Bank </li></ul></ul><ul><ul><li>Linda Cooke, Habilitation Center </li></ul></ul><ul><ul><li>James Carras, Carras Community Investment Inc. </li></ul></ul><ul><ul><li>William Derrer, James A. Cummings, Inc. </li></ul></ul><ul><ul><li>Christopher Pollock, Ft. Lauderdale Chamber of Commerce </li></ul></ul><ul><ul><li>Peyton Moore, Broward Alliance </li></ul></ul><ul><ul><li>Bob Swindell, Broward Alliance </li></ul></ul><ul><ul><li>Bryan Cahen, City of Hollywood </li></ul></ul><ul><ul><li>Michael O’Rourke, Morrison, Brown, Argiz & Co. </li></ul></ul><ul><ul><li>Barbara Balter, Suntrust </li></ul></ul><ul><ul><li>Gwen Watson, Midtownbiz Development </li></ul></ul><ul><ul><li>Denise Ramirez, DAR Business Services </li></ul></ul><ul><ul><li>David Reece, Vista School </li></ul></ul>
  3. 3. <ul><li>“ THE WORLD SPINS ON BROWARD COUNTY’S FINGERTIPS”  </li></ul><ul><li>Fortune 500 CEO’s point to recent venture capital investments as evidence that Broward County is the most financially innovative global economy in the world. </li></ul><ul><li>Public-Private partnerships continue to insure that infrastructure will support growth and never sacrifice quality of life issues.  </li></ul><ul><li>Industrial expansion in tandem with 24/7 technology opportunities has fueled unprecedented growth of small and medium businesses.  </li></ul><ul><li>Regional mindsets are evident by the South Florida Tourism Bureau effectively capitalizing on national visitors to the Global Merchandise Mart.  </li></ul><ul><li>Education initiatives launched 20 years ago by biomedical and technology leaders continue to provide a talented labor pool, our ongoing key to progress.  </li></ul>Business Development Task Force Overview
  4. 4. <ul><ul><li>Broward County should provide leadership to leverage regional resources and promote South Florida as a world-class destination for tourism and business </li></ul></ul>Business Development Task Force Mission
  5. 5. <ul><li>Policy One </li></ul><ul><li>Leverage existing and future resources and geographic/regional advantages of South Florida to promote existing high-paying industries and attract new emerging industries that will continue to promote and better the quality of life and economic advantages of Broward County. </li></ul><ul><ul><ul><li>Recruit industries that have higher paying jobs through a coordinated inter-governmental, inter-agency approach with a focus on: </li></ul></ul></ul><ul><ul><ul><ul><li>Life Sciences - medical field pharmaceuticals/biotech </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Aviation and Aerospace </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Headquarters - Financial - Administrative </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Hospitality Industry (tourism, cruise) </li></ul></ul></ul></ul>Business Development Task Force Policies
  6. 6. <ul><li>Policy One (cont’d) </li></ul><ul><ul><ul><ul><li>Marine Industry/Recreational boating </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Wholesale Distribution - durable and non-durable goods </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Film and Motion picture production </li></ul></ul></ul></ul><ul><ul><ul><ul><li>“ 21 st Century Industries” including photovoltaics, fiber optics cable </li></ul></ul></ul></ul><ul><ul><ul><li>Enhance Broward’s marketability through effective redevelopment projects, in affordable housing/mixed use development. </li></ul></ul></ul>Business Development Task Force Policies
  7. 7. <ul><li>Policy Two </li></ul><ul><li>Take the lead in unifying with regional partners and cities to create a South Florida brand. Collaborate with regional partners and Broward County cities to create a unified South Florida brand. </li></ul><ul><ul><ul><li>Research best practices of peer counties successful with a regional marketing approach. </li></ul></ul></ul><ul><ul><ul><li>Solicit support for regional marketing approach from key stakeholders. </li></ul></ul></ul><ul><ul><ul><li>Determine if a regional marketing brand/campaign would be effective and retain marketing agency to work with stakeholders to create/develop a regional brand. </li></ul></ul></ul><ul><ul><ul><li>Acknowledge/incorporate image of regional tourism and create a coordinated marketing message to promote int’l trade and attract foreign direct investment. </li></ul></ul></ul>Business Development Task Force Policies
  8. 8. <ul><li>Policy Three </li></ul><ul><li>Create central information stations/clearinghouses throughout the County that identify, coordinate and promote all assets, resources and information that are required by, and available to all businesses. </li></ul><ul><ul><ul><li>Develop three strategically located Outreach/Resource Centers. </li></ul></ul></ul><ul><ul><ul><li>Create separate Small Business Development Division. </li></ul></ul></ul><ul><ul><ul><li>Create a dedicated source of capital streamlined for small and minority businesses with a revolving fund. </li></ul></ul></ul><ul><ul><ul><li>Allocate more funds to Metro Broward Economic Development Corp. </li></ul></ul></ul><ul><ul><ul><li>Expand business opportunities for the culturally diverse small and minority businesses. </li></ul></ul></ul>Business Development Task Force Policies
  9. 9. <ul><li>Policy Four </li></ul><ul><li>As regional tourism is an economic driver for Broward County, the County must establish itself as a world-class destination. </li></ul><ul><ul><ul><li>Create a Southeast Florida Tourism Bureau. </li></ul></ul></ul><ul><ul><ul><li>Invest in tourism attractions (enable an icon). </li></ul></ul></ul><ul><ul><ul><li>Protect and enhance natural resources. </li></ul></ul></ul><ul><ul><ul><li>Attract visitors from all over the world with an image of comfort, peace, and safety. </li></ul></ul></ul><ul><ul><ul><li>Enhance transportation accessibility for visitors to South Florida. </li></ul></ul></ul><ul><ul><ul><li>Increase industry salaries and invest in education. </li></ul></ul></ul>Business Development Task Force Policies
  10. 10. <ul><ul><li>Broward County should provide leadership to leverage regional resources and promote South Florida as a world-class destination for tourism and business </li></ul></ul>Business Development Task Force Mission
  11. 11. <ul><li>Policy Five </li></ul><ul><li>Support and promote international trade and foreign direct investment through the coordination and development of the county’s infrastructure for international trade promotion, and attraction of foreign direct investment by establishing an International Trade Center (ITC). </li></ul><ul><ul><ul><li>Create an (ITC) as a focal point for the county's effort to create/ expand int’l trade opportunities and attract new business. </li></ul></ul></ul><ul><ul><ul><li>Conduct a &quot;Needs Analysis&quot; of existing Broward businesses to determine baseline of int’l trade statistics and identify barriers, gaps and needs to expand international trade. </li></ul></ul></ul>Business Development Task Force Policies
  12. 12. <ul><li>Policy Five (cont’d) </li></ul><ul><ul><ul><li>Encourage and facilitate educational opportunities with businesses to expand int’l trade, through training, mentoring programs, enhanced int’l curriculum to include languages, cultural awareness and international business. </li></ul></ul></ul><ul><ul><ul><li>Establish a permanent International Business Advisory Board for the County to provide ongoing guidance. </li></ul></ul></ul>Business Development Task Force Policies
  13. 13. <ul><li>Policy Six </li></ul><ul><li>Create a coordinating council for economic development agencies with a central information system to identify, coordinate and promote all assets, resources and information that is available throughout the County for businesses and provide information in a comprehensive manner. </li></ul><ul><ul><ul><li>Create a coordinating council by County Ordinance. </li></ul></ul></ul><ul><ul><ul><li>Develop a handbook providing information on economic development countywide with contacts and a directory of small and minority businesses. </li></ul></ul></ul><ul><ul><ul><li>Establish a central information system via a website to help conduct business 24 hours a day, 7 days a week and develop a calendar of events related to international trade and business. </li></ul></ul></ul>Business Development Task Force Policies
  14. 14. <ul><li>Policy Seven </li></ul><ul><li>Promote Broward County & South Florida as a center for venture capital backed entrepreneurial activity- particularly leveraging Scripps-related businesses/spin offs. </li></ul><ul><ul><ul><li>Create/subsidize locally-based venture capital and seed/angel investment funds. </li></ul></ul></ul><ul><ul><ul><li>Provide/coordinate training and mentoring programs for entrepreneurs and management and sponsor “Entrepreneur Training” programs at local universities. </li></ul></ul></ul><ul><ul><ul><li>Establish Scripps liaison office for County. </li></ul></ul></ul>Business Development Task Force Policies
  15. 15. <ul><li>Policy Eight </li></ul><ul><li>Establish a policy to utilize public/private partnerships to facilitate economic development and redevelopment, for; land assembly activities; facilitation of the land development process; greater access to capital formation; affordable housing; small business development and expansion; and transportation. </li></ul><ul><ul><ul><li>Develop enabling policy by County Ordinance to create the above mentioned public/private partnerships. </li></ul></ul></ul><ul><ul><ul><li>Prepare a business plan with details on operating missions, goals and objectives. </li></ul></ul></ul>Business Development Task Force Policies
  16. 16. <ul><ul><ul><li>Existing municipal and county operating budgets and capital improvement programs, particularly for overlapping budget items </li></ul></ul></ul><ul><ul><ul><li>New financing mechanisms such as revolving loans, venture capital, etc. </li></ul></ul></ul><ul><ul><ul><li>Individual stakeholder contributions in public and private sectors </li></ul></ul></ul><ul><ul><ul><li>Partnerships/sponsorships with businesses </li></ul></ul></ul><ul><ul><ul><li>User Fees </li></ul></ul></ul><ul><ul><ul><li>Bed Tax </li></ul></ul></ul><ul><ul><ul><li>Bond Issue </li></ul></ul></ul>Business Development Task Force Funding Source Options
  17. 17. B u s i n e s s D e v e l o p m e n t T a s k F o r c e D r a f t F i n a l R e p o r t S u m m a r y March 25, 2 0 0 4

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