Agenda Item - 2021-12-21 - Number 5.1 - Presentation - Economic Development Strategy Community
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Economic Development Strategy:
City Council Study Session
December 21 , 2021
Purpose
Traded
• What types of investment and job Sector
creation should the City support?
• Which economic development services i
p Economic
should the City support and how? Prosperity 'Population Visitor
Driven Potential
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2020 and 2021
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f S T E 1 Ni vy ,A yOccupancies are up
$ _-- .t: . ,k' i ;;_i �; .,, _4 " • New & expanded businesses throughout
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.' r.}, - `= J ' r j 7.7%vacancy (above 4.7% 5 yr av)
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'i` • 1, r „ede, fps New supply of 39,600 SF
'''� :.,1 Av rents $29.31/SF up 0.8%YoY
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' • f 6%vacanc (slightly higher than 5- r av)
r,1��.� _ � � ; a, I -i- i 1 �' ... Avrents $26.21/SF up 1 %YoY
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Industrial Kruse Wav (420K SF)
1 .2% vacancy
Current Situation : very tight supply New supply = 0
Av rents $12.58/SF, up 5.4%YoY
Portland Region Lake Oswego/West Linn (1 .3M SF)
• 225. 1M SF — majoritylogistics 7.7% vacancy
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New supply = 0
• 3M SF under construction Av rents $10.81/SF, up 4% YoY
• 4.9% vacancy
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Examples of Traded Sector Businesses
Population-Serving
Visitor-Serving
kiverfrontlFoothills
Other
N. 1 Firms:
Indus./
Lt Indus
KinderCare HQ Kruse/Meadows/
(Ed Services) Bangy Biotronik Micrasystem
�; (Medical
NAVEX Equip)
(Bus. Traded Sector
Software)
Other
Firms: SW Emp Area Greenbrier
Logical HQ(Rail
Finance, Position
Insurance, (Marketing Cars)
Real Black&
comets)
Estate Veatch Yakima HQ
�� _ (Eng/Const) (Rec. Equip)
Strengths/Positioning
(//// Pathways
Free Downtown Parking
Events Centers
Arts & Culture
STRs Visitor-Serving
Population-Serving and Hotels
Food and Drink Frog Ferry(Future)
\\ Public Safety
Top Schools High-Quality Water
Neighborhoods Parks
\\N. Sewer Capacity
Highly-Educated
Workforce
Low
•- Taxes (vs
PDX)
Traded Sector
What is the City' s role ?
CITY COUNCIL
CONSTITUENCIESP CITY DIVISIONS
PARTNERS PriorityDEPARTMENTS
Business i i
(Existing Projects Economic Dev.
Business New) Initiatives
Residents
Economic Planning
Visitors
Dev. Finance
Property Owners 0 I 0
elp q .‘,._ , Police
Main Street,
Chamber, N JFPs Parrs & Rec
ressinalrs COORDINATE INFORM, Public Works
ernment INTEGRATE, Building &
Core
Agencies Services SUPPORT Code Enforcement
Goal : Enhance business investment and job-creation opportunities
Economic Development Leadership
Typical Roles & Responsibilities
City Government Chambers of Commerce
1. Planning and zoning (land supply) 1. Voice of Business Community
2. Economic vision, goals, strategy — add value 2. Business Advocacy & Network-building
3. Business Retention Expansion & Attraction 3. Small Business Education
4. Redevelopment 4. Events — community & customer
5. One-stop business services re: location, 5. Tourism Marketing —some cities lead it
planning and regulatory issues
5. Policy — Align EcDev and other city policies:
transportation, land use, housing
iies
Overview C t
7 out of 10 Local Governments have Economic Development Departments
Ha4 Canby llepy Oregon
Wilsonville Estacada Milwaukie Molalla West Linn Sandy Gladstone
Valley
y
Population 17.9K 22.5K 37.4K 24.9K 3.4K 21K 9.3K 26.7K 11.4K 12.3K
Has an
Economic No 1 Planner-no C No
(part tf
Development dept y
Department Dev)
#of Full-Time 2 1 3 1 1 1 0.33 FTE 0.33 FTE 1 -
Staff
Yes. Yes. Yes,
Advisory No No Strategy No Downtown No Economic Yes Yes No
Committee? Advisory Task Estacada Vitality Project
Forces Commission Task Forces
Business Business Business Site selection, Business
resources Business Business attraction & outreach, Prop locator, attraction, Business
Key City Location outreach Business Business Resources, licensing,
retention retention & Business retention,
Functions/ advisory Recruitment & Incentives and Relocation/Att Retention/Exp technical refers to
Services Permitting Grant & tax retention expansion; resources, assistance raction ansion, 1-Stop
abatement tourism, Downtown assistance/inc County
& licensing procurement Marketing workforce vitality service entives
support
No, but city
Handles supports Supports Active support Yes. Tourism Supports:
Tourism? Yes No Yes Tourism brand No role No liaison for City brand &
strategy
Promo Comm;
Council Direction on Economic Dev . Services
A. Situation Awareness
B. Customer Service
c. Networking and Education
D. Policy and Code Improvement
E. Planning and Redevelopment
F. Programming
G. Branding and Marketing
H. Others?
A . Situation Awareness
Inputs:
• Meetings with Clackamas County, GPI, Business Oregon,
and Non-Governmental Organizations
• Meetings and interviews with businesses, brokers, etc.
• 0. 10 - 0.20 FTE City staff (new or reorganization)
Outputs:
• Data/Analytics (inventories, interviews, publications)
• Leads on business prospects and vulnerabilities
Outcomes:
• Business retention/expansion/attraction
• Job creation
Resources and Potential Partners
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PORTLAND ECONOMIC DEVELOPMENT LAKE 0SWEGO
it Clackamas CHAMBER CIF COMMERCE
C 4 Workforce
i Partnership TRAVEL
WORKFORCE DEVELOPMENT BOARD AClad(amas MI CommunityCollege
rig OFLEIO ° - OREGON
Small Business Mt HOOD
Development Miim Ml ati
Oeda Center explorers welcome
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WESISIDE ECONOMIC ALLIANCE
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B . Customer Service & Technical Assistance
Inputs:
• Single point of contact to align efforts across City
departments: 0.50 - 1.0 FTE (new or reorganization)
• Meetings with business owners, brokers, partners, etc.
• Option to contract with others for some tasks
Outputs:
• Information and other resources shared with businesses
• Permits and licenses issued, grants filed, trainings, etc.
Outcomes:
• Business retention/expansion/attraction; job creation
• Storefronts filled, growth in wages, AV, lodging taxes, etc.
C . Networking and Education
Inputs:
• Led by Non-Governmental Organization (s)
• City supports, and serves as primary contact for other governments
Outputs:
• Meetings with government partners
• Option to support work of NGOs with grants
Outcomes:
• Business retention/expansion/attraction; job creation
• Leadership development/community-building
• Storefronts filled, growth in wages, AV, lodging taxes, etc.
Council direction requested . . .
A. Situation Awareness. Does Council agree that this is a shared
responsibility that requires City staff resources and coordination
with other entities?
B. Customer Service. Does Council agree that the City should provide a
single contact to assist and advocate for business? Should the City
also contract out some business assistance services (e.g., technical
assistance with grants and loans)?
c. Networking and Education . Should staff attend key County,
Regional, and State economic development meetings and report
back to Council (while also continuing to coordinate with the
Chamber)?
D . Policy and Code Improvement
Inputs:
• Input from property owners, businesses, brokers, etc.
• City staff labor and outside services
Outputs:
• Data/Analytics ( permit process, parking utilization )
• Code audit and revisions; parking management plans
Outcomes:
• Reduce cost of opening or expanding a business
• Business retention/expansion/attraction; job creation
• Greater efficiency in parking/land use (public and private)
• Improved permit process frees up staff to work on other goals
E . Planning and Redevelopment
Inputs:
• Input from property owners, businesses, brokers, neighborhoods, etc.
• City staff labor and outside services
Outputs:
• Land use plans, Capital Improvement Plan, funding sources
Outcomes:
• Clarity for property owners and neighborhoods on future development
• Alignment of City land use policy and regs with community vision
(build on quality of life)
• Positive market response with business investment and job creation
F . Programming
Inputs:
• Input from City, Chamber, and local arts and culture organizations
• Business community support/sponsorships, etc.
Outputs:
• Coordinated events calendar ("Fusion")
• Recommendations for process improvement
Outcomes:
• Successful programs and events, population-serving and visitor-
serving, that lead to economic prosperity for the entire community
• Alignment of programs with community vision (build on quality of life)
• Build on LO "brand" - for business investment and job creation
G . Branding and Marketing
Inputs:
• Professional branding and marketing study
• Should be led by non-City entity with broad community buy-in
Outputs (potential) :
• Website
• Branding and Marketing toolbox (media kits, etc.)
• Advertising campaigns
• Wayfinding program (signs, app, etc.)
Outcomes:
• Business investment and job creation consistent with vision
• Storefronts filled, growth in wages, AV, lodging taxes, etc.
Council direction requested . . .
D. Policy and Code Improvement. Should staff audit City codes and fees
and recommend removal of unnecessary impediments to business
(while maintaining codes for quality-of-life)?
E. Planning and Redevelopment. Should the City periodically review its
existing plans for the business districts and employment areas, and
update the plans as needed (at least once every 5-10 years)?
F. Programming. Should staff develop an overall community events
calendar (annual with 2-3 year projection) in collaboration with NGOs?
Should the economic development specialist be tasked with reviewing
and identifying process improvements for the City's special events?
G. Branding and Marketing Should the City provide ongoing support to an
NGO to develop and implement a citywide branding & marketing plan?
Council direction requested . . .
Are there any other services the Council would like to see?
Thank you