Leadership Frisco Class XIX Economic Development Day November 6, 2015
FRISCO EDC OVERVIEW James L. Gandy , CEcD, CCIM President
WHAT IS ECONOMIC DEVELOPMENT? Economic Development is a mix of economic activities that have the primary purpose of bringing money and investment into a city.
WHY IS ECONOMIC DEVELOPMENT IMPORTANT? Provide a proactive growth management strategy to: Maintain a desirable quality of life Promote balanced residential, commercial growth Develop a greater property tax base Generate quality job opportunities
ABOUT THE FRISCO EDC Established 1991 & funded by ½ cent City sales tax for economic dev. Mission is to improve the economic opportunities and quality of life for all residents of Frisco Focus on job creation, business retention & expansion, & expansion of the City property tax base
PRIMARY USES OF ECONOMIC DEVELOPMENT FUNDS To promote business attraction, retention and formation by providing: Infrastructure upgrade and placement Land, building purchase, lease and upgrade Training/education for businesses Economic incentives to businesses Marketing and promotional activities Administration and operation Financial obligations such as bonds
ORGANIZATIONAL CHART
FRISCO EDC STAFF James L. Gandy, CEcD, CCIM Julie Floyd President Office Manager Dave Quinn, CEcD Pat Tittle Vice President Special Projects Coordinator John Bonnot Veronica Traupman Director of Economic Development Senior Assistant Harry Whalen Julia Ventre Director of Business Development Administrative Assistant Stefanie Wagoner, AICP Director of Business Retention & Expansion Elise Back Kim Sinclair Manager of Economic Development Asst. Director, Contracts Darcy Schroer - Director of Marketing
FEDC PROGRAM GOALS
POSITIVE IMPACTS OF GROWTH Increased sales tax and property tax revenue Quality job opportunities for residents Low city and school property taxes Ability to build infrastructure and municipal buildings Excellent parks and recreation program Provide facilities for all age groups Continued small town feel
Potential Direct Jobs Number of Potential Potential Capital Created Year Projects Square Feet Investment /Retained 2014 16 915,117 $89,015,000 1,582 2013 19 1,191,290 $174,093,000 2,301 2012 27 1,973,620 $1,013,151,000 3,500 2011 27 839,761 $152,655,500 2,030 2010 33 1,442,014 $264,991,500 3,465 Total 122 6,361,802 $1,693,906,000 12,878 5 YR Avg. 24.4 1,269,812 $356,812,000 2,488
BEFORE MALL Frisco Bridges – June 1998
AFTER MALL Frisco Bridges – December 2006
BUSINESS ATTRACTION PROGRAM James L. Gandy , CEcD, CCIM President
BUSINESS ATTRACTION PROGRAM Local, national and international focus
FRISCO’S COMPETITIVE ADVANTAGE Access to skilled, highly-educated workforce Centralized location in major growth corridor 25 min. drive to DFW Int’l Airport, Dallas Love Field, downtown Dallas Competitive cost factors Esteemed educational systems Positive quality of life: public safety, services, amenities Aggressive, growth-oriented attitude Business Retention & Expansion programs
WHERE DO LEADS COME FROM? Brokers Site location consultants Developers Dallas Regional Chamber Companies Business Contacts State of Texas Other Sources
INCENTIVE PROCEDURES Qualified projects submit Economic Impact Survey Staff conducts an Economic Impact Analysis Staff drafts Incentive Proposal based on FEDC Board guidelines & Economic Impact Analysis Staff presents Incentive Proposal to FEDC Board FEDC attorney drafts a Performance Agreement Company accepts Performance Agreement Board approves Performance Agreement
PARTNERSHIPS LOCAL City of Frisco, Frisco CVB, Frisco CDC Frisco ISD, Collin College, Collin & Denton Counties Frisco Chamber, Frisco businesses REGIONAL Dallas Regional Chamber North Texas Commission North Texas Commercial Association of Realtors (NTCAR) STATE Governor’s Office of Economic Development, TexasOne Texas Economic Development Council (TEDC), Team Texas
PARTNERSHIPS cont. NATIONAL Industrial Assets Management Council (IAMC) U.S. Commercial Service INTERNATIONAL International Economic Development Council (IEDC) SelectUSA CoreNet Global International Council of Shopping Centers (ICSC)
BUSINESS FORMATION NORTH TEXAS ENTERPRISE CENTER (NTEC, Inc.)
NTEC, Inc . NTEC-Inc.org 50,000 S.F. Technology start-up incubator / accelerator One of largest business accelerators in Texas
BUSINESS RETENTION & EXPANSION Stefanie Wagoner , AICP Director of Business Retention & Expansion
BRE FOCUS IS CRITICAL Economic Development Industry “ Standard ” ~ 80% new jobs created come from existing companies
BUSINESS RETENTION & EXPANSION PROGRAM Conduct corporate visitations Performance Agreements for expansion Since 2008 program initiated in FEDC • 1.2M s.f. space occupied • $82.5M capital investment • 3,500 jobs retained/created
BUSINESS RETENTION & EXPANSION PROGRAM Provide Programming Frisco Executive Forum FriscoHR Corporate Welcome Program Frisco Young Professionals (Frisco Chamber) Frisco Young Entrepreneurs Academy (Chamber/FISD)
BUSINESS RETENTION & EXPANSION PROGRAM Partnerships Workforce Board/Office Frisco ISD Higher Education Institutions – training/grants Frisco Chamber of Commerce
WORKFORCE Labor Pool in 10-mile radius 500,000 Active Labor Pool in Frisco 61,000 Unemployment rate ~ 3.2% Residents with Bachelor degree + 59% Frisco & surrounding region have more than twice the national average for key information technology occupations
TOP CORPORATE EMPLOYERS (By FTE) 1. AmerisourceBergen Specialty Group 1,200 2. Conifer Health Solutions 1,000 3. Baylor Medical Center of Frisco 650 4. Mario Sinacola & Sons 600 5. Oracle 500 6. Centennial Medical Center 500 7. Kenexa / IBM 300 8. CAREington 300 9. FiServ 275 10. ThyssenKrupp Elevators 175
FRISCO EDC MARKETING Darcy Schroer Director of Marketing
MARKETING & MEDIA Generate leads and proactively sell Frisco Outbound marketing missions, national & international • Events and event sponsorship • Advertising in target publications, but more important, to a target • audience. Social media: Facebook, Twitter, LinkedIn, YouTube • Radio Series Focus on Frisco airs on KRLD Newsradio 1080 AM • Collateral materials • Website: FriscoEDC.com • • Facilitate reporter inquiries on projects and feature stories
MARKETING & MEDIA Not many cities can claim all of the following: – Pro-business climate – Competitive incentives – Highly-educated, skilled workforce – Top-notch public safety – Exemplary public school system – Fast access to airports and thousands of metro-area attractions – Quality residential and commercial developments – Parks and hike & bike trails – Presence of four professional sports teams (five in 2016) – GENUINE PARTNERSHIPS! ( It’s our secret sauce. )
ONE MILE: Dallas North Tollway between Warren Pkwy. & Lebanon Rd. FOUR PROJETS: The Star in Frisco Frisco Station The Gate Wade Park $5.4 BILLION: Investment that has been announced or is already under construction
#5BMILE FriscoEDC.com/5BMILE
Frisco’s success stories are our most powerful marketing tool!
EB-5 PROGRAM Frisco Texas International Development Center (FTIDC) Elise Back Manager
WHAT IS AN EB-5 PROGRAM? • The “EB - 5 Program” refers to a visa category – Employment Based Fifth Preference (EB-5) • Created in 1990 to promote job creation and encourage foreign investment in the United States • Immigrant investors receive conditional resident status in the United States for a two-year period upon an investment of: • $1 Million • $500,000 in “targeted employment areas” • Capital must be invested in a “new commercial enterprise” that creates 10 permanent U.S. jobs per investor Frisco TXEB5 .com
BENEFITS OF THE EB-5 PROGRAM • Business Flexibility • Education Benefits • Preferred Residency • Access to non-traditional financing • Economic development: • Job creation • Increased property taxes • Increased sales tax Frisco TXEB5 .com
FRISCO TEXAS INTERNATIONAL DEVELOPMENT CENTER (FTIDC) • The FTIDC was approved by the U.S. Citizenship and Immigration Services (USCIS) on August 1, 2013 • The FTIDC Regional Center geographic territory includes Collin, Dallas and Denton Counties • The FTIDC is wholly – owned by the Frisco Global Development, Inc. (FGD) Frisco TXEB5 .com
ECONOMIC DEVELOPMENT LEADERSHIP & PARTNERSHIP Gary Carley Chairman Frisco EDC Board of Directors
CASE STUDY: THE STAR IN FRISCO Ron Patterson Assistant City Manager City of Frisco
FRISCO CHAMBER OF COMMERECE ROLE IN ECONOMIC DEVELOPMENT Tony Felker President / CEO Frisco Chamber of Commerce
Leadership Frisco Class XIX Economic Development Day November 6, 2015
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