Bringing Back Main Street Roundtable Economic Development Indicators and Trends Impacting Rural Communities April 28, 2020 Jillian Donatto Senior Planner, H-GAC h-gac.com h-gac.com Serving Today • Planning for Tomorrow Serving Today • Planning for Tomorrow
Objectives 1. Economic Development Primer 2. Industry vs Talent-Led Economic Development Strategies 3. Covid-19 Related Trends h-gac.com Serving Today • Planning for Tomorrow
What Industry Looks For § Transportation § Access to Markets § Supply Chain § Utilities, Infrastructure § Finance, Taxes § Relocation/Construction Costs § Labor Availability h-gac.com Serving Today • Planning for Tomorrow
El Campo: Ready for Business § Policy: State of Texas, Local § Access to Markets Austin 130 Miles | 2 Hrs § Transportation Houston 71 Miles | 1-1.5 Hrs • US 59 & SH 71 § Economic Drivers San El Campo Antonio • Aquaculture 160 Miles | 2.5 Hrs Victoria • Agricultural Commodities 53 Miles | 1 Hr • Farming & Ranching • Oil & Gas • Wholesale, Trade & Logistics Source: BLS Quarterly Census of Employment & Wages’ El Campo CDC, H-GAC h-gac.com h-gac.com Serving Today • Planning for Tomorrow Serving Today • Planning for Tomorrow
Demographic Indicators EMPLOYEE COUNT M E D I A N OF BUSINESSES Educational H O U S E H O L D P O P U L AT I O N Attainment Less than 10 Between 10 - 49 More than 50 I N C O M E 11,658 3% 100% $48,467 16% 15% 80% 23% 60% H O U S E H O L D S L A B O R F O R C E 82% 35% T H A T A R E 40% 5,753 FA M I L I E S 20% WORK 71% 25% DISTRIBUTION 0% Bachelors Degree or Blue Collar White Collar Higher M E D I A N A G E A V E R A G E Some College or 34.56 C O M M U T E Associates Degree 42% Diploma or GED T I M E 58% 22 min. Less than High Source: El Campo CDC, H-GAC School h-gac.com Serving Today • Planning for Tomorrow
Economic Development 1.0 INFRASTRUCTURE FOR EMPLOYER-LED GROWTH h-gac.com Serving Today • Planning for Tomorrow
What Matters Most to Industry 1. Highway Accessibility 2. Labor Costs 3. Labor Availability 4. Quality of Life* 5. Tax Exemptions & Construction Costs (tied) Source: 2019 Area Development Site Selectors Survey h-gac.com Serving Today • Planning for Tomorrow
Economic Development 2.0 ENVIRONMENTS FOR A MULTIGENERATIONAL WORKFORCE h-gac.com Serving Today • Planning for Tomorrow
What Matters Most to Talent? Younger/Aging Generations ALL Generations Want 1. Car-Optional 1. “Quality of the Environment” 2. Alignment with Values 2. Health, Safety 3. Experiences 3. Schools 4. Engagement 4. Parks Source: 2015 ULI Community Survey; Pew Research IPUMS (2017); EY 2017; HBR.org h-gac.com Serving Today • Planning for Tomorrow
Before the First Interview On the Ground Online ü Informal Mayors ü Parks, Schools, Healthcare ü Engagement ü Diversity ü Build on What You Have ü Vision Source: 2015 ULI Community Survey; Pew Research IPUMS (2017); EY 2017; HBR.org h-gac.com Serving Today • Planning for Tomorrow
Why did Amazon (initially) choose Ne New York ? h-gac.com Serving Today • Planning for Tomorrow
DISCLAIMERS CONCEPTUAL FOR DISCUSSION, UNCHARTERED LEVEL INSIGHTS NOT ENDORSEMENT TERRITORY I welcome your thoughts and reactions during Q&A! h-gac.com Serving Today • Planning for Tomorrow
What Analysts are Saying “Our estimates of possible FDI to be redirected to Mexico from the U.S., China and Europe range from $12 billion to $19 billion a year,” A “pe perfect storm” is reshaping the entire global landscape; from our everyday lives to the way we work and how the world perceives the hyper- connectivity of globalization: - COVID-19, USMCA, and the Trade War Newmark: How We Can Help h-gac.com Serving Today • Planning for Tomorrow
Pre-/Post-Covid Trends In Indus ustr try Approx 25% of all US industries likely to be negatively impacted Retail: retail-pocalypse, Amazon, delivery services Trade: USMCA, Reshoring, China Ag: Consolidation, Demographics, Localism, Supply Chain Tech: Broadband, Data Science, Artificial Intelligence/Robotics h-gac.com Serving Today • Planning for Tomorrow
Pre-/Post-Covid Trends Ta Talent-Re Related Opportunities Gig Economy and Side Hustle Remote Work, Flex Schedules, Work-life Balance Moving/Changing Ladders to Fit DIY/Life-Hacking Life-Long Learning, E-Learning h-gac.com Serving Today • Planning for Tomorrow
Post-Covid The The Hazy zy Horizo zon § Some activities/industries might have to be reinvented • Restaurants, Events, Arts/Ent. • Workplace design • Energy • Ag/Food Supply Chain • Public Engagement Open Sources: studies from the impact on sectors from: Organization of Economic Cooperation and Development (OECD); KPMG; EY; Ibisworld; PwC; RCLCO; Ariel Properties h-gac.com Serving Today • Planning for Tomorrow
Reinvention Open Sources: City of El Campo; Leader-News.com h-gac.com Serving Today • Planning for Tomorrow
THANK YOU h-gac.com Serving Today • Planning for Tomorrow
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