PEORIA INVESTMENT CONFERENCE

Investment and Development Opportunities in Peoria

Today’s Presentation

Economic Development Implementation Strategy (EDIS) Peoria Assets Economic Development Initiatives Current Activities

Quick Facts on Peoria Available Space Premiere Vacant Properties Economic Development Incentive and

Investment Policy City Priorities

Peoria Investment Conference

Welcome to the Peoria Investment Conference! Economic Development is the city’s priority We have a game plan We are willing to invest and have created framework

to legally do so (City North compliant) We have funds to invest and a AA+ bond rating We have premiere locations ready for development We are able to help you get your project done We are looking for strategic partners to help us take

advantage of key development opportunities

Economic Development Implementation Strategy (EDIS)

2010 Economic Development Implementation Strategy developed by Wadley Donovan Growthtech and adopted by City Council October 17, 2010 Economic Base Analysis/Targeted Industry Analysis Business Climate Assessment (SWOT)

Workforce, infrastructure, available sites, transportation

Retail Potential Analysis Program and Plan Exploration

EDIS Key Findings

Workforce Technologically-skilled; High knowledge workforce

Diversified occupational base matching or exceeding natl. avg. for US Dept. of Labor’s 23 occupational categories

Much higher than natl. avg. in 2-yr and certifications (39%); slightly lower than the natl. avg. for 4-yr degrees

93% out-commute for jobs Young, flexible, strong basic skills

EDIS Key Findings

Economic Base 42% in retail, food service, and

accommodations 19% in health care 9% in construction Shortage of engineering degree programs Recruiting difficulties for highly specific

jobs NOT DIVERSIFIED

EDIS Key Findings

Infrastructure Assets Public water and sewer services that meet current

development needs, and excellent planning of and investment in future capacity

Electric power availability and costs that support future economic development

Availability of natural gas service at reasonable prices

Telecommunications services that meet business needs

Strong transportation assets – Interstate overnight access to multistate regional markets

Available land and good short-term inventory of space

EDIS Key Findings

High Quality of Life Money Magazine listed Peoria

in the "Top 100 Places to Live" Cultural and recreational

offerings in the City and metro area are diverse, and outdoor recreational opportunities are plentiful

Low crime rate – below those of the state and nation

High performing public schools. The Peoria Unified School District has higher graduation rates and lower dropout rates than the state average

Housing at multiple price points

EDIS Key Findings

Strong City Government and Streamlined Development Process Aggressive ED focus of City Council

Adoption of key ED policies and programs Improved customer service development

focus with one-stop shop approach Expedited plan review process

Strategic Initiatives and Current Situation

1. University Recruitment Higher education feasibility study in

2010 resulted in 31 universities naming Peoria as possible site for future expansion

Contract with university recruiter Exclusive negotiating agreement with

Ottawa University for residential campus at Peoria Place

4 University Locations

Strategic Initiatives and Current Situation2. Investment Zones

Zones to stimulate targeted development through city direct investment (public investment as well as development incentives) and aggressive development partnerships

Emphasis on redevelopment and catalytic economic opportunities

Investment Zones

5 Investment Zones:• Entertainment

District• Old Town• Loop 303• Plaza del Rio/Loop

101• Northern Corridor

Strategic Initiatives and Current Situation3. Health Care Strategy and

Recruitment Completed health care feasibility study

2010 Health care = 19% of Peoria workforce Strong asset in Plaza del Rio 185-acre

campus Create a medical device incubator Develop a recruitment program for

health care practitioners Determine opportunities for health care

systems and recruitment

Strategic Initiatives and Current Situation

4. Business Assistance Program Add more resources to existing small

business and business retention programs

5. Strategic Land Assembly Identify and secure key parcels for targeted

development focusing on investment zones

6. Medical Device Incubator Proposed opening Q4 2011 Partnership with BioAccel and CORE Institute

Quick Facts on Peoria: Entertainment District

1. 2010 – Adopted Urban Redesign Master Plan targeting infill development

35 acres of public parking / 20 acres of vacant land

Quick Facts on Peoria: Entertainment District

2. Contracted with Gensler in October 2010 to create identity for the area, improve connectivity, establish location as destination

3. 2009 Avg. HH Income = $81,4554. 29% of HH Incomes in 2009 > $100k5. 260,000 people in 10-minute radius6. ADTs for Loop 101 = 127,000; Bell Rd =

69,000

Quick Facts on Peoria: Entertainment District7. RFP out for the Sports Complex parking lot (17

acres). Proposals due January 24th

8. Current development project “It’s All in the Game”

Quick Facts on Peoria: Old Town

1. University Recruitment at Peoria Place single most important economic catalyst in Old Town

2. City investing $80 Million in physical improvements

3. Commercial Rehabilitation Program committed to pay 100% of improvements to Old Town Commercial Properties

4. 2009 average HH Income = $69,0095. 300,000 people in 10-minute radius6. ADTs for Hwy 60 (Grand Ave.) = 30,000;

Peoria Ave. = 18,952; 83rd Ave. = 15,000

Quick Facts on Peoria: Northern Peoria

1. Loop 303 scheduled to open this Spring – connects I-10 to I-17

2. Population growth rate projected 4.5% (2009 10-minute radius = 33,452)

3. 2009 average HH Income $87,8974. 39% of HH Income’s in 2009 >

$100k5. Vistancia Master-Planned

Community

Available Space - Industrial

Empire Business Center (NEC Cactus & 91st Avenue) 44,000 SF

available Loop 101 access –

freeway visibility Western Maricopa

Enterprise Zone

Available Space - Industrial Cabot Commerce Center

(NEC Cactus & Loop 101) 200,000 SF available – 24’ ceilings Loop 101 access – freeway visibility Western Maricopa Enterprise Zone

Available Space - Industrial

Hi-Macs Bldg. (8009 W. Olive) 50,000 SF

available – 24’ clear heights

Fenced Paved Yard

Western Maricopa Enterprise Zone

Available Space - Industrial

Arrowhead 101 Business Park (NWC Loop 101 & Thunderbird) 300,000 SF

available – 24-30’ clear heights

Freeway visibility

Adjacent to Rio Vista Park

Available Space - Office

Lake Pleasant Medical Plaza (10204 W. Happy Valley Rd.) 25,000 SF Class A

medical office space 3 miles from Loop 303 ¼ mile from 1.5

million SF of retail

Available Space - Office

Thunderbird Office Park @ 101 (NWC 83rd Avenue and Thunderbird) 63,000 SF Class A

office space 1 mile from Loop

101 Built-out spec

suites available

Available Space - Office

Peoria Center at Arrowhead (SEC 83rd Avenue and Paradise Lane) 14,000 SF Class

A office space 1/2 mile from

Loop 101 In Entertainment

District

Available Space - Retail

Lake Pleasant Pavilions (SWC Lake Pleasant & Happy Valley Road) 40,000 SF, including 20,000

anchor Super Target Anchor Draws from Upscale

Communities 2009 pop. in 10-min radius was

33,452 2009 HHs with Incomes >

$100k = 39% Intersection has 1.5 Million SF

of Retail

Available Space - Retail

Harley Davidson (16130 N. Arrowhead Fountains Center Dr.) 35,500 SF Immediate access to

Loop 101 Entertainment District

2009 pop. in 10-min. radius = 259,564

2009 HHs with Income > $100k = 29%

Available Space - Retail

Park West (NWC Loop 101 and Northern Ave.) 25,000 SF and 7 PADs Immediate access to Loop

101; 2 mi. north of WestGate

Mixed use, open air shopping and dining

2009 pop. In 10-min. radius = 35,519

2009 Avg. HH Income = $72,838

Premiere Available Properties Loop 101 Opportunities Saxa Property at

Park West: 16 acres Northern/115th:

135 acres 95th/Olive: 16 acres 107th/Olive: 10 acres Empire Business

Park: 4 PADs = 35 acres

Plaza del Rio Health Care Campus: 55 acres

Premiere Available Properties Old Town/

Industrial Opportunities – both rail served Rovey Property:

107 acres Mountain View:

20 acres Triad Steel:

18 acres

Premiere Available Properties Loop 303 Opportunities Vistancia Commercial

Core: 500 acres Sewer – available

capacity = 1.65 MGD Water – available

capacity = 3.0 MGD (4.8 MGD by end ‘11)

Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months

Tierra del Rio: 75 acres

Premiere Available Properties

Lake Pleasant Opportunities @CAP canal: 59 acres Westwing Village: 54

acres Promenade: 14 acres @ Jomax: 23 acres @ Yearling: 45 acres @ Pinnacle Peak: 100

acres on 3 corners Happy Valley/95th Ave:

173 acres

Economic Development Incentive and Investment Policy (EDIIP)

Adopted December 2010 to formalize city’s intent to pursue targeted economic development

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

Economic Development Incentive and Investment Policy (EDIIP)

Investment Tools identified: Enterprise Zone Industrial Development Authority Foreign Trade Zone City Direct Investment Lease Revenue Bonds Tax Abatement Government Property Lease Excise Tax (GPLET) Maricopa County Economic Development Fund

Economic Development Incentive and Investment Policy (EDIIP)

Eligible Projects Include:1. Capital Investment (min. $250,000)2. Number of jobs created (min. 10)3. Average salary (min. $50,000 plus benefits)4. Average education level required (min. 4-yr

degree)5. Targeted industries (manufacturing, business

services, healthcare/bio, back office, higher ed, R&D, high tech)

6. Redevelopment projects serving to economically reposition unused or underutilized blighted properties

Priority Old Town Projects

1. Peoria Place (126 acres)

2. Peoria Town Center (22.5 acres)

3. Smitty’s Center (7.5 acres)

4. Goodwill Center (9 acres)

Priority 101 Frontage Project

5. Saxa Property at Park West (16 acres)

Priority Entertainment District Projects6. Sports Complex Parking Lot (17 acres)

7. Entertainment District Redevelopment Opportunities

Priority Northern Peoria Project8. Vistancia

Commercial Core (500 acres)

Sewer – available capacity = 1.65 MGD

Water – available capacity = 3.0 MGD (4.8 MGD by end ‘11)

Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months

Priority Medical Campus Projects

9. Plaza del Rio (55 acres)

Peoria Priority Projects

10.Lake Pleasant Parkway and the Loop 303 (1 square mile of state-owned land)

Conclusion

Economic Development Strategy in place

Strong workforce Initial success in both higher ed and

health care Many development opportunities Priority redevelopment projects Aggressive and focused City Council Established Incentive Policy

We invite YOU to build something with us.

Scott WhyteDirector, Economic Development

Services623-773-7738Scott.whyte@peoriaaz.govwww.peoriaed.com