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HomeMy WebLinkAbout2021-10-18-I09 Economic Development Action PlanAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: October 18, 2021 AGENDA ITEM:Consideration of approval of a resolution approving and adopting City of Waukee Economic Development Action Plan FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: The 2021-2022 Economic Development Action Plan outlines the Community Development Department’s economic development goals for 2021-22. These ten goals provide a comprehensive strategy for development and economic growth in the City of Waukee. The overall themes of the economic development strategy are partnership and collaboration, with a primary focus on business attraction and retention as well as entrepreneurship. The plan includes action items that support new and existing business growth through programs, services and resources. In addition, there is a significant commitment to implementing economic development marketing activities which promote Waukee as a great place to live, work and do business. The Economic Development Action Plan is intended be a flexible work plan which may require adjustments in order to respond to the needs of market. Implementation of goals and action items will occur throughout 2021-2022. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Staff recommends approval of the action plan. RECOMMENDATION: Approve the resolution. ATTACHMENTS: I. Proposed Resolution II. City of Waukee Economic Development Action Plan PREPARED BY:Jennifer Brown, Economic Development Coordinator REVIEWED BY: I9 THE CITY OF WAUKEE, IOWA RESOLUTION 2021- APPROVING AND ADOPTING CITY OF WAUKEE ECONOMIC DEVELOPMENT ACTION PLAN IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal Organization; AND, WHEREAS, it is recommended that the City of Waukee adopt an Economic Development Action Plan to provide a comprehensive strategy for development and economic growth; AND, WHEREAS, the overall themes of the proposed economic development strategy are partnership and collaboration, with a primary focus on business attraction and retention as well as entrepreneurship; AND, WHEREAS, the proposed plan includes action items that support new and existing business growth through programs, services and resources. In addition, there is a significant commitment to implementing economic development marketing activities which promote Waukee as a great place to live, work and do business. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee that the Economic Development Action Plan is hereby approved. Passed by the City Council of the City of Waukee, Iowa, and approved the 18th day of October, 2021. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN Anna Bergman Pierce R. Charles Bottenberg Chris Crone Larry R. Lyon Ben Sinclair 1 Waukee Economic Development Action Plan 2021-2022 2 Economic Development Action Plan 3 Contents Introduction .............................................................................................................................4 Mission and Vision of Waukee Community Development ................................................5 Market Waukee as a Great Place to Live, Work and Do Business ...................................6 Increase Commercial Tax Base by Facilitating the Growth and Expansion of Business ......7 Attract Retail and Professional Services to Serve Existing Residential Base and New Growth .....................................................................................................................................8 Provide Development Options that Diversify the Local Economy & Connect Entrepreneurs with Current Information and Resources ..................................................10 Establish Waukee as a Regional Destination for Visitors ..................................................11 Redevelop and Revitalize Waukee’s Downtown District & Foster Entrepreneurship and Innovation ....................................................................................................................12 Become a Destination of Choice for Talent and Capital ...............................................13 Economic Development Action Plan INTRODUCTION The City of Waukee is recognized as the fastest-growing (large) city in Iowa and is located in Dallas County—the fourth fastest-growing county in the U.S. Waukee offers a friendly, community-oriented vibe featuring quality schools, parks, trails, entertainment and enrichment opportunities. The City is also dedicated to economic development and business opportunities, including the expansion of both the 1,300-acre mixed-use Kettlestone Development and the highly-traveled Hickman Road corridor. This action plan exists to outline a set of key strategies and actions which will guide the Community Development Department in the continued pursuit of smart economic growth in Waukee. Plan updated October 2021 4 5 Mission and Vision of Waukee Community Development The mission of the Community Development Department is to strengthen the City’s competitive position by attracting, developing, retaining and expanding diverse investments which will grow high-quality jobs, enhance the standard of living for all residents and cultivate dynamic, livable neighborhoods. The Community Development Department is committed to the pursuit of economic growth and development. A set of organizational goals provides the framework for the department’s comprehensive economic development strategy. 1. Market Waukee as a great place to live, work and do business. 2. Increase commercial tax base by facilitating the growth and expansion of businesses. 3. Attract retail and professional services to serve existing residential base and new growth. 4. Nurture and grow strong relationships with business leaders and community partners. 5. Provide development options that diversify the local economy. 6. Connect entrepreneurs with current information and resources. 7. Establish Waukee as a regional destination for visitors. 8. Redevelop and revitalize Waukee’s Downtown District. 9. Foster entrepreneurship and innovation. 10. Become a destination of choice for talent and capital. 6 1) Market Waukee as a Great Place to Live, Work and Do Business The City of Waukee has earned a reputation as a premier community in which to live and do business. Residents and businesses alike are drawn to the City of Waukee because of its strong and growing quality of life factors. As such, the Community Development Department is dedicated to sharing Waukee’s successes and the community’s positive stories. The department will implement the following activities to bolster its marketing and communications: Goal 1: Elevate Waukee’s brand to that of a progressive community with excellent quality of life and chances for success. Action 1: Develop new, and improve existing, marketing materials that are high-quality, accurate and consistent with City branding. Action 2: Gather short video testimonials from Waukee business leaders about “Why Waukee?” and promote via web and social channels (LinkedIn and Instagram). Action 3: Focus on Waukee.org to ensure it is consistently updated and user- friendly. Goal 2: Encourage commercial developers and business owners to invest in Waukee. Action 1: Launch advertising and media relations campaigns highlighting the reasons why Waukee is a perfect place for development and business growth. Action 2: Highlight available development locations, parcels of land and buildings for lease through videos and other marketing tools. Goal 3: Develop marketing partnerships with regional entities which share common marketing interests. Action 1: Identify key organizations which share common economic development marketing goals with the City of Waukee. Action 2: Attend and support marketing partners’ events and activities. Action 3: Meet annually to align marketing goals. 7 2) Increase Commercial Tax Base by Facilitating the Growth and Expansion of Businesses Goal 1: Promote the accomplishments of the Waukee businesses community. Action 1: Utilize City communications to promote business accomplishments, development announcements and real estate broker features. Goal 2: Build relationships with local businesses by engaging them in an annual visit program. Action 1: Partner with the Waukee Area Chamber of Commerce to visit 40 businesses annually to identify needs, challenges and opportunities. Goal 3: Encourage local businesses to thrive and expand with nimble economic development incentives. Action 1: Provide current, easy to access information about the City’s financial incentives and assistance. Action 2: Assess and adjust incentives as the business community diversifies and grows. Goal 4: Review and align economic development reporting metrics, funding agreements and grants to identify gaps and improve reporting. Action 1: Track and report metrics for new project job creation and capital investment. 8 3) Attract Retail and Professional Services to Serve Existing Residential Base and New Growth Waukee’s population has ballooned by 74 percent over the past decade, and the housing market has responded with historic growth. Increased rooftops combined with high median household incomes has increased the spending potential. Ultimately, there is more demand for shopping, dining and professional services. The Kettlestone Development and the Hickman Road corridor are hotbeds of development opportunity,with a high level of interest from retail and hospitality developers. The City completed a Kettlestone Market update in 2021. The report includes a differentiated gap analysis which identifies significant leakage in general merchandise. This indicates a major opportunity for large general merchandise, such as Target or Walmart. Other major growth opportunities are in the commodity/daily needs businesses, such as grocery, health and personal care, and food and beverage. The Community Development Department will maintain involvement with the commercial real estate community to inform developers about the wealth of opportunity in Waukee. Goal 1: Showcase development opportunities at regional and national conferences/events. Action 1: Promote the City at the annual Iowa Commercial Real Estate Expo. Action 2: Coordinate with brokers/developers to maximize opportunities at the annual Innovating Commerce Serving Communities (ICSC) (December 2021). Action 3: Promote Waukee at the annual Mid-America Competitiveness Conference & Site Selector Forum in Chicago (December 2021). Goal 2: Work collaboratively with developers/brokers and property owners. Action 1: Meet with brokers/developers and property owners to identify ways to assist in planning sites and marketing developments. Action 2: Share regular communications updating brokers about new developments and public infrastructure investments. Action 3: Maximize Costar for research, reporting and maintenance of property/building database listing. Goal 3: Recruit targeted retail identified in Kettlestone Market update. Action 1: Work collaboratively with brokers/developers to attract a large general merchandise store. Action 2: Work collaboratively with brokers/developers to attract destination retail and restaurant opportunities. Action 3: Enhance retail promotion with the creation of “retail market profile” with real estate amenities map derived from the Kettlestone Market Update. 9 4) Nurture and Grow Strong Relationships with Business Leaders and Community Partners Waukee prioritizes relationships with partners and business leaders and views itself as a collaborator in business development. The Community Development Department works closely with commercial real estate brokers and developers to streamline development and ensure that companies receive excellent service throughout the development process. Goal 1: Communicate development opportunities to commercial real estate brokers. Action 1: Share development opportunities and accomplishments in the “Economic Development Quarterly” newsletter and through other communication channels. Action 2: Check in with brokers regularly to share development updates and communicate new opportunities. Goal 2: Participate in regional and statewide economic development organizations. Action 1: Participate in monthly Greater Des Moines Partnership economic development practitioners’ meetings. Action 2: Maintain participation in boards and commissions that further Waukee’s economic development efforts. Action 3: Participate in annual spring conference hosted by Professional Developers of Iowa. 10 5) Provide Development Options that Diversify the Local Economy The City of Waukee’s economic development efforts are focused on attracting commercial projects that increase employment opportunities and grow tax base. With an increase of retail and hospitality developments in the Kettlestone Development, Waukee has become an attractive location for professional offices. Additionally, four commercial and light industrial business parks provide Waukee’s economy with opportunities for advanced manufacturing, warehousing and logistics operations. Goal 1: Develop marketing strategy for business parks. Action 1: Explore re-energizing the Land In Waukee campaign and leveraging LinkedIn to promote. Goal 2: Recruit light industrial users to the business parks. Action 1: Submit business parks as potential sites for regional and statewide projects. Action 2: Explore certified sites program to market shovel-ready sites. Action 3: Provide custom marketing materials to brokers. Action 4: Work closely with the Greater Des Moines Partnership and the Dallas County Business Alliance to solicit site visits for light industrial prospects. 6) Connect Entrepreneurs with Current Information and Resources The Community Development Department has made significant strides in providing timely, useful information through the Kettlestone page on Waukee.org, the “Economic Development Quarterly” newsletter and on GIS ZoomProspector. Ongoing review and research will help inform strategies going forward so that Waukee is always improving the accessibility and content of the information provided. Goal 1: Provide reports about each available site and building in Waukee. Action 1: Explore the use of Costar for maintaining the City’s database of sites/buildings. Action 2: Provide flyers for each site to include with information packets. Goal 2: Improve the Economic Development webpage to provide timely, accurate and robust information. Action 1: Quarterly review content on all economic development/ Kettlestone webpages to ensure information is accurate and relevant. Action 2: Review and update the website to ensure there is accurate information about demographics, incentives, assistance and the development process. 11 7) Establish Waukee as a Regional Destination for Visitors Waukee celebrates magnificent parks and greenways, extraordinary schools and exceptional community involvement. Visitors travel from around the state to visit Waukee’s parks and trails, and to attend festivals. In 2022, Waukee will open Triumph Park, the community’s first sports complex featuring 66 acres with 12 softball/baseball fields and practice areas. The complex will serve local teams as well as large tournaments with the potential to host thousands of players and spectators each weekend. Adjacent to Triumph Park is the largest EPIC Inclusive Playground and an 11-acre pond with an accessible fishing pier. Residents and visitors have increasing access to sports and recreation opportunities as well as to entertainment options. The development of the up-and-coming entertainment district, KeeTown Loop, will include a 3,000-capacity live concert venue, which will host over 100 events annually. These developments will increase number of visitors from outside of Waukee and spur new commercial investment. Goal 1: Increase visitors and spending into Waukee by promoting tourism opportunities and attracting new investment and development. Action 1: Develop a marketing campaign that showcases Waukee’s entertainment, recreational and sports tourism opportunities. Action 2: Work closely with brokers/developers to attract businesses that support Waukee’s entertainment, recreational and sports tourism opportunities. Goal 2: Develop a destination master plan. Action 1: Work with the Marketing & Communications and Parks & Recreation Departments to prepare an RFP. Action 2: Explore the formation of a tourism council or CVB. Goal 3: Attract hotel developments to accommodate visitors and business travelers. Action 1: Support area brokers and developers in marketing efforts specific to the hospitality industry. 12 8) Redevelop and Revitalize Waukee’s Downtown District Waukee’s Downtown District is the heart of the community’s past, present and future. The Downtown Waukee Master Plan envisions the Downtown Waukee as a unique and vibrant destination with a diverse range of businesses and gathering places for social, cultural, and family-oriented events and activities. Focusing on revitalization will foster increased investment and spur new business opportunities in the Downtown District. Goal 1: Revitalize Downtown Waukee as a unique, historic, vibrant, and attractive local and regional destination. Action 1: Assist the Downtown District businesses in building a collective identity for branding Action 2: Inventory Downtown Triangle businesses/properties and work collaboratively with owners to identify opportunities for revitalization and growth. Action 3: Review and modify existing financial incentives to increase business investment and revitalize the district. Action 4: Promote redevelopment efforts that help establish the Downtown district as a key destination for Waukee and the region. Action 5: Explore creation of a Business Improvement District (BID). 9) Foster Entrepreneurship and Innovation Waukee’s economic development strategies include a strong focus in building the entrepreneurship ecosystem in the City. As the number of local entrepreneurs grows, the need for strategies that support and connect entrepreneurs increases. The Community Development Department works closely with entrepreneurs to identify opportunities to partner, collaborate and assist with growth. Goal 1: Develop services, facilities, and infrastructure in support of start-up companies, entrepreneurs and those working remotely in Waukee. Action 1: Identify the successful entrepreneurial businesses in the Waukee. Action 2: Meet with entrepreneurial leaders to address the most important needs of growing local businesses. Action 3: Maintain local, regional and statewide programs for entrepreneurship. Action 4: Explore the creation of an innovation hub and coworking space. Goal 2: Support the development and growth of small businesses in Waukee. Action 1: Partner with the University of Iowa Venture School to offer scholarships and support for Waukee entrepreneurs to grow their ideas. Action 2: Use City communications to promote small business accomplishments. Action 3: Review the City’s Economic Development webpage to provide resources and referrals relevant to small business accomplishments. 13 10) Become a Destination of Choice for Talent and Capital A top priority of the Community Development Department is to attract companies who bring high-quality jobs to Waukee. Waukee citizens benefit from high-quality jobs through increased employment opportunities and high wages. Wages ripple through the local economy, stimulating and contributing to the success of local businesses. Goal 1: Attract and develop a quality labor force that meets the needs of the existing labor market and anticipates trends in business and industry Action 1: Promote workforce development partners and resources on Waukee.org. Action 2: Explore opportunities to partner with Waukee APEX, businesses and the community. Action 3: Increase awareness of high-demand training and education through DMACC and other higher education institutions. Goal 2: Communicate quality and availability of area workforce. Action 1: Provide locally tailored workforce-related research to spur activity. Action 2: Explore a subscription to JobsEq, EMSI or similar software for labor data/jobs research. Action 3: Work collaboratively with the Waukee Area Chamber of Commerce to assist businesses in recruiting and integrating new employees into the area. © City of Waukee, 2021