Economic Development Economic Development Vital to Dania Beach’s Survival and Growth

Lingering effects of U.S. recessionLingering effects of U.S. recession

Airport impacts to City’s tax baseAirport impacts to City’s tax base

Competition from neighboring citiesCompetition from neighboring cities

Aged building and housing stockAged building and housing stock

Shifting business sectorsShifting business sectors

Job CreationJob Creation Job RetentionJob Retention Attract InvestmentAttract Investment Improve Tax BaseImprove Tax Base Preserve Quality of LifePreserve Quality of Life

The Pillars of Economic DevelopmentThe Pillars of Economic Development

CRA Economic Development ObjectivesCRA Economic Development Objectives

Create 2,500 new high skill, high wage jobs Create 2,500 new high skill, high wage jobs in Dania Beach over five yearsin Dania Beach over five years

Attract $100 million in new capital Attract $100 million in new capital investment to the City during the same investment to the City during the same periodperiod

Increase industrial/commercial tax base Increase industrial/commercial tax base accordinglyaccordingly

How are we going to do it ?

Incubation of new small businessesIncubation of new small businesses

Retain and expand existing businessesRetain and expand existing businesses

Focus on new, high growth sectorsFocus on new, high growth sectors

Aggressive outreach to innovative Aggressive outreach to innovative investors, corporate leadersinvestors, corporate leaders

Broward County Economic GrowthBroward County Economic Growth(2006-2010))

Lowe FoundationLowe Foundation

Expand168,124

Contract67,629

Net101,221

Close96,365

Open197,594

Net100,495

Move In33,826

Move Out24,592

Net9,234

Establishments

JobsNet

63,139Close

337,645Open

400,784

Growth From Florida Companies

SelfStage 1 (1-9 employees)Stage 2 (10-99)Stage 3 (100-400)Stage 4 (500+)

28,80857,883[1,115]

[26][9]

28,808134,867[23,086][4,085]

[20,898]

Establishments JobsJob Growth From Small Companies

Incubation is important to our growthIncubation is important to our growth

FacilitiesFacilities. . Provide entrepreneurs with low cost physical space, Provide entrepreneurs with low cost physical space, admin support, common conference space and research facilities admin support, common conference space and research facilities (wet labs)(wet labs)

Professional supportProfessional support. . Legal, financial, marketing counsel Legal, financial, marketing counsel and business plan review and business plan review

Financial AdviceFinancial Advice. Need to attract debt or equity capital . Need to attract debt or equity capital including venture or angel investorsincluding venture or angel investors

Technology TransferTechnology Transfer. . New businesses spring from patents New businesses spring from patents generated by universities, high tech corridor, NASAgenerated by universities, high tech corridor, NASA

Peer ReviewPeer Review. . Unvarnished feedback during 2-year ramp upUnvarnished feedback during 2-year ramp up

Provide low-cost startup officesIncent high wage, high skill future employers

Business retention is fundamental

Business ContactBusiness Contact– Database; annual, 1/4ly meetings; leaders council; Database; annual, 1/4ly meetings; leaders council;

sector breakfasts; newsletter; SBDCsector breakfasts; newsletter; SBDC

Incentive CoordinationIncentive Coordination– EZ, brownfield, workforce; façade/merchantEZ, brownfield, workforce; façade/merchant

FacilitationFacilitation– QTI, QRT, Road grants; SBA, NMTC, EB-5; PermitsQTI, QRT, Road grants; SBA, NMTC, EB-5; Permits

AdvocacyAdvocacy– Workshop; outreach; corporate; peer forum; Workshop; outreach; corporate; peer forum;

industry/association initiativesindustry/association initiatives

We need growth in three key job typesWe need growth in three key job types

2013

30,1832040

34,186

Labor Force 12,165

18-65

13,674

Population

Construction 650 5.3%Manufacturing 1,139 9.4%Utilities 72 0.6%Wholesale 1,28810.6%Retail 2,445 20.1%

Logistics 503 4.1% ****Information 102 0.8% ****Financial 211 1.7%Professional, Scientific1,023 8.4%Management 100 0.8%

Health Services 324 324 2.7% 2.7% ********Real Estate 296 2,4%Leisure & Hospitality 1,321 10.9%Arts, Entertainment 569 4.7%Public Administration 241 2.0%Education Svcs. 271 2.2%

10,141

Of the 12,165 people who are employed in Dania Beach, 788 live and work in the City. There

are 11,377 workers who live outside the City and work within Dania Beach. Of the

11,490 workers who live within the Dania Beach City limits,

there are 10,702 residents who work outside the City (93.5 percent). There is a net job

outflow of 675 workers.

Dania Beach must seek targeted Dania Beach must seek targeted employersemployers

CleantechLife SciencesInfotechAviation/AerospaceHomeland Security/DefenseFinancial/Professional ServicesCorporate HeadquartersEmerging Technologies

Generate leads via Alliance, State of Florida channelsVisit targeted industries in Miami, Orlando, Tampa and West Palm BeachContact national prospectsLink to FAU, FIU, Nova Southeastern University UF, USF, UCF, FSU, Host C-level events in Dania Beach in targeted sectors

State and County incentives go to targeted industry sectors

There is a global competition for jobsThere is a global competition for jobs

Is Dania Beach ‘Business Friendly’?Is Dania Beach ‘Business Friendly’?

We must overcome a severe lack of infrastructure to create We must overcome a severe lack of infrastructure to create shovel ready properties (roads, water, fiber optic)shovel ready properties (roads, water, fiber optic)

Are we engaged in the battle for resources (federal, state, Are we engaged in the battle for resources (federal, state, county)?county)?

Immediate access is needed to capital, finance, grants and Immediate access is needed to capital, finance, grants and incentivesincentives

Can we grow a healthy business environment?Can we grow a healthy business environment?

Dania Beach today enjoys a privileged and enviable location that is attractive to virtually any potential investor/employer. However, businesses

today have a global choice of locations and are seeking communities with shared values

Economic TransformationEconomic Transformation

Traditional SectorsTourism Antiques/vintageCommercial decorationMarine

Future ClustersMedical servicesHigh technologyLogistics & supply chainMarine technologyTransportation mobilityProfessional servicesResearch & Engineering

Dania Beach will undergo a Dania Beach will undergo a transformationtransformation

1313

Tourism & Recreation

Antiques/

Vintage

CommercialDesign

Trade &Logistics

Marine Technology

Renewable Energy

Construction

Green Building

Eco-Tourism

Healthcare

New

LifestyleCommunities

AdvancedManufacturing

Tourism

Business Travel

RuralCare

EnvironmentalSciences

Dania Today

Dania BeachTomorrow

We can attract high growth,We can attract high growth, high wage industrieshigh wage industries

(from SRI CFDC Cluster Study 2009)(from SRI CFDC Cluster Study 2009)

A modern diversified economy requires A modern diversified economy requires building blocksbuilding blocks

What is Dania Beach’s niche in our What is Dania Beach’s niche in our Megaregion?Megaregion?

What financial incentives do we need?What financial incentives do we need?

The CRA:The CRA:– Can offer major employers in targeted industries Can offer major employers in targeted industries

serious state and county incentive dollars.serious state and county incentive dollars.– The CRA is devoting its budget and seeking grant The CRA is devoting its budget and seeking grant

and county funding for an incubator and other and county funding for an incubator and other economic engineseconomic engines

Dania Beach:Dania Beach:– Needs to increase funding of strategic Needs to increase funding of strategic

infrastructure improvements in business areasinfrastructure improvements in business areas– Should develop a set of financial and non-Should develop a set of financial and non-

financial incentives for major new employersfinancial incentives for major new employers

A checklist of what A checklist of what Dania Beach can do?Dania Beach can do?

1.1. An Economic Development Point PersonAn Economic Development Point Person

2.2. Elected officials serve as Ambassadors: Positive and Elected officials serve as Ambassadors: Positive and knowledgeable of all the City’s assets knowledgeable of all the City’s assets

3.3. Develop policies and infrastructure that are conducive to Develop policies and infrastructure that are conducive to economic development – zoning, code, fees, fast track economic development – zoning, code, fees, fast track permittingpermitting

4.4. Shovel Ready SitesShovel Ready Sites

5.5. Is the land for sale? Single owner or multiple owners?Is the land for sale? Single owner or multiple owners?

6.6. Information on the websiteInformation on the website

7.7. Incentives, tax breaks and waiving of feesIncentives, tax breaks and waiving of fees

8.8. Staff that can answer specific questions regarding Staff that can answer specific questions regarding infrastructure: roads, water, sewerinfrastructure: roads, water, sewer

9.9. Can the City move quickly in voting on incentive packages?Can the City move quickly in voting on incentive packages?

What are the Important Challenges ?What are the Important Challenges ?

Infrastructure really should get underway to places that Infrastructure really should get underway to places that facilitate commercial/industrial developmentfacilitate commercial/industrial development

It’s a small community and the CRA should document and It’s a small community and the CRA should document and post fractional property ownership to help assemblages and post fractional property ownership to help assemblages and uses that make financial senseuses that make financial sense

Dania Beach should adopt ‘best practices’ in permitting Dania Beach should adopt ‘best practices’ in permitting proposals that speed and simplify the process while proposals that speed and simplify the process while protecting the communityprotecting the community

Dania Beach elected officials should join peers in county, Dania Beach elected officials should join peers in county, regional positions of leadership to secure equitable treatmentregional positions of leadership to secure equitable treatment

Deeper consideration should be given to the strategic Deeper consideration should be given to the strategic relationship between development of available Dania Beach relationship between development of available Dania Beach properties and the City’s financial future.properties and the City’s financial future.

Marketing InitiativeMarketing Initiative

Economic Development GoalsEconomic Development Goals

Create Jobs – New & Existing BusinessCreate Jobs – New & Existing Business Attract capital investmentAttract capital investment Improve housing, neighborhood quality of lifeImprove housing, neighborhood quality of life Develop a pipeline of prospectsDevelop a pipeline of prospects Incubate new small business Incubate new small business Increase private light industrial, office parksIncrease private light industrial, office parks Enhance Dania Beach workforceEnhance Dania Beach workforce Orchestrate funding for projectsOrchestrate funding for projects Increase public awarenessIncrease public awareness