Bench Marking Power Point SZD August 2011 - 1

ECONOMIC DEVELOPMENT STUDY
Initial Findings
August 11, 2011 SZD WHITEBOARD 250 WEST STREET COLUMBUS, OH 43215 WWW.SZDWHITEBOARD.COM
WWW.SZDWHITEBOARD.COM
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STUDY OVERVIEW
To provide Beachwoods leadership with a fact-based, actionable plan that will help to maintain the citys economic leadership and fiscal health through recommended best-in-class organization structure as well as programs of work. Phase I Benchmarking Phase II Analysis Phase III Recommendations and action plan
PILLARS OF ECONOMIC DEVELOPMENT STRATEGY
Business Attraction
Retention and Expansion
Community Development
WHO DID WE TALK TO?

Local and Regional Stakeholders
Input from about 50 community leaders
Benchmark Communities
Blue Ash, Ohio Worthington, Ohio Greenwood Village, Colorado Middleton, Wisconsin Mount Lebanon, Pennsylvania Rochester Hills, Michigan
PARTICIPANTS
Mayor Merle S. Gorden Councilman Fred Goodman Councilman Mark Wachter Councilman Mark Mintz Councilman Justin Berns Councilman Saul Eisen Councilman Melvin Jacobs Councilman Brian Linick Margaret Cannon, City Attorney George Smerigan, City Planner Brad Sellers, City of Beachwood Paul Williams, consultant to City of Beachwood Vince Adamus, former City of Beachwood staff Traci Nichols, City of Cleveland Deborah Janik, Greater Cleveland Partnership Tom Sudow, former Beachwood Chamber staff Douglas Miller, Jacobs Group Gerald Medinger, Weber, Wood, Medinger Alan W. Wood, Weber, Wood, Medinger James Klements, Weber, Wood, Medinger Bill Mann, Beachwood Chamber Wayne Lawrence, Beachwood Chamber Ed Jerse, Cuyahoga County Jonathan Berns, ORG Portfolio Management Mike Shemo, Wolf Real Estate Management Donald King, The King Group Mark Munsell, Munsell Realty Advisors Larry Coven, Coven Goldman Associates Eric Bell, Goldberg Companies Jeff Kahn, NAI Daus Richard Markwardt, Beachwood City Schools Michelle Mills, Beachwood City Schools Jim Heller, KA Architecture Nan Zieleniec, Developers Diversified Realty Dale Mitchell, Eaton Corp Deryl Kratzer, Tremco Rob Clarke, General Growth Properties William (Bill) Peacock, Cleveland Clinic David Bronson M. D. President, Cleveland Clinic Cynthia Deyling M.D., Cleveland Clinic Marsha Powers, Powers Financial Group John Vojtush, Community Touch Ned Hill, Cleveland State University Don Sykes, Psychological and Behavioral Consultants Rico Pietro, Cresco Real Estate Tom Waltermire, TeamNEO Jay Foran, TeamNEO Christine Nelson, TeamNEO Jenny Febbo, TeamNEO Gil Goldberg, US Small Business Administration Jennifer Ruggles, formerly of the Ohio Department of Development
LOCAL AND REGIONAL STAKEHOLDERS

What did we want to know? Assets
Challenges
Ideas
Start a dialogue
ASSETS
Great Companies
Strong Tax Base
Strategic Location
Responsive City Administration
Quality of Place
GREAT COMPANIES
STRATEGIC LOCATION
Three Interstate 271 Exits
Some strong existing space
Access to airport and downtown
Chagrin Highlands
Access to a diversity of other communities
Access to worldclass healthcare, education, arts, recreation, etc.
QUALITY OF PLACE
Highly Ranked Schools
Attractive Neighborhoods
Greater Beachwood Brand Strong business services (i.e. banks, law firms, consultants, etc.) Hospitality services
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RESPONSIVE CITY ADMINISTRATION

Respected and Valued
Professional and Business Oriented
Quality of Basic Services
Engaged Leadership
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STRONG TAX BASE
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BEACHWOODS VALUE PROPOSITION

When Failure is Not an Option
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CHALLENGES
Shift in Competitive Environment
Variable Economic Development Program
Changes to the Beachwood Brand
Aging Commercial Building Stock
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SHIFT IN COMPETITIVE ENVIRONMENT
More aggressive surrounding communities Professional ED teams Significant use of economic development tools Newer real estate opportunities in other communities Growth of Regionalism Speed, speed, speed
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CHANGES TO THE BEACHWOOD BRAND
Beachwood extends much further than the city limits
Where are the city limits, anyway?
Outside of the residential areas, no consistent sense of place.
No consistent marketing/branding strategy.
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AGING COMMERCIAL BUILDING STOCK

Commerce Park Chagrin Boulevard Parts of Science Park Other areas of the Richmond/I-271 corridor Redevelopment vs. new development Problems with parking, access, density and layout
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VARIABLE ECONOMIC DEVELOPMENT PROGRAM

Staff Program of work Structure Incentive policy Budget Sales and marketing
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BENCHMARK COMMUNITIES
Successful benchmark communities are leaders in regional economic development efforts.
LESSONS LEARNED
The broader market determines the need for incentives (i.e. Denver v. Cleveland). Budgets vary greatly. In general, the tougher the regional market, the higher the economic development budget. Successful communities exploit their ability to support projects differently than the private sector.
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BENCHMARKING SNAPSHOT
Beachwood Blue Ash Greenwood Village Middleton Mt Lebanon Rochester Hills Worthington
Total Population Med Household Income Educational Attainment Knowledge Workers Unemployed
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INCENTIVE PROGRAMS
Tax Increment Financing Property Tax Abatement Land Bank Revolving Loan Fund
N N N N
Y N Y N
N N Y N
Y N N Y
Y N N N
Y Y N N
Y Y N N
Y = Yes N = No
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ECONOMIC DEVELOPMENT FUNCTIONS

Business Retention & Expansion Web Presence Marketing Incubation
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KEY LESSONS
Blue Ash, OH Retention and Expansion and Tax Increment Financing Greenwood Village, CO Regionalism Middleton, WI Tax Increment Financing Mt Lebanon, PA Cautionary Rochester Hills, MI Redevelopment and Tax Increment Financing Worthington, OH In Process
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PILLARS OF ECONOMIC DEVELOPMENT STRATEGY
Business Attraction
Retention and Expansion
Community Development
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WHAT COMES NEXT?

Action Plans
Program of Work and Structure
Redevelopment strategy and tools Job Incentives Sales, marketing and branding Supporting entrepreneurial development Organized, proactive Retention and Expansion strategy Public private partnerships
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ECONOMIC DEVELOPMENT STUDY

PILLARS OF ECONOMIC DEVELOPMENT STRATEGY

Retention and Expansion

WHO DID WE TALK TO?

LOCAL AND REGIONAL STAKEHOLDERS

Strong Tax Base

Responsive City Administration

Three Interstate 271 Exits

Some strong existing space

Access to airport and downtown

Access to a diversity of other communities

Access to worldclass healthcare, education, arts, recreation, etc.

RESPONSIVE CITY ADMINISTRATION

Professional and Business Oriented

Quality of Basic Services

STRONG TAX BASE

BEACHWOODS VALUE PROPOSITION

Shift in Competitive Environment

Variable Economic Development Program

Changes to the Beachwood Brand

Aging Commercial Building Stock

SHIFT IN COMPETITIVE ENVIRONMENT

CHANGES TO THE BEACHWOOD BRAND

Beachwood extends much further than the city limits

Where are the city limits, anyway?

Outside of the residential areas, no consistent sense of place.

No consistent marketing/branding strategy.

AGING COMMERCIAL BUILDING STOCK

VARIABLE ECONOMIC DEVELOPMENT PROGRAM

Successful benchmark communities are leaders in regional economic development efforts.

ECONOMIC DEVELOPMENT FUNCTIONS

Business Retention & Expansion Web Presence Marketing Incubation

PILLARS OF ECONOMIC DEVELOPMENT STRATEGY

Retention and Expansion

WHAT COMES NEXT?

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