City of Peoria, AZ- Investment conference
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Transcript of City of Peoria, AZ- Investment conference
PEORIA INVESTMENT CONFERENCE
Investment and Development Opportunities in Peoria
Today’s Presentation
Economic Development Implementation Strategy (EDIS) Peoria Assets Economic Development Initiatives Current Activities
Quick Facts on Peoria Available Space Premiere Vacant Properties Economic Development Incentive and
Investment Policy City Priorities
Peoria Investment Conference
Welcome to the Peoria Investment Conference! Economic Development is the city’s priority We have a game plan We are willing to invest and have created framework
to legally do so (City North compliant) We have funds to invest and a AA+ bond rating We have premiere locations ready for development We are able to help you get your project done We are looking for strategic partners to help us take
advantage of key development opportunities
Economic Development Implementation Strategy (EDIS)
2010 Economic Development Implementation Strategy developed by Wadley Donovan Growthtech and adopted by City Council October 17, 2010 Economic Base Analysis/Targeted Industry Analysis Business Climate Assessment (SWOT)
Workforce, infrastructure, available sites, transportation
Retail Potential Analysis Program and Plan Exploration
EDIS Key Findings
Workforce Technologically-skilled; High knowledge workforce
Diversified occupational base matching or exceeding natl. avg. for US Dept. of Labor’s 23 occupational categories
Much higher than natl. avg. in 2-yr and certifications (39%); slightly lower than the natl. avg. for 4-yr degrees
93% out-commute for jobs Young, flexible, strong basic skills
EDIS Key Findings
Economic Base 42% in retail, food service, and
accommodations 19% in health care 9% in construction Shortage of engineering degree programs Recruiting difficulties for highly specific
jobs NOT DIVERSIFIED
EDIS Key Findings
Infrastructure Assets Public water and sewer services that meet current
development needs, and excellent planning of and investment in future capacity
Electric power availability and costs that support future economic development
Availability of natural gas service at reasonable prices
Telecommunications services that meet business needs
Strong transportation assets – Interstate overnight access to multistate regional markets
Available land and good short-term inventory of space
EDIS Key Findings
High Quality of Life Money Magazine listed Peoria
in the "Top 100 Places to Live" Cultural and recreational
offerings in the City and metro area are diverse, and outdoor recreational opportunities are plentiful
Low crime rate – below those of the state and nation
High performing public schools. The Peoria Unified School District has higher graduation rates and lower dropout rates than the state average
Housing at multiple price points
EDIS Key Findings
Strong City Government and Streamlined Development Process Aggressive ED focus of City Council
Adoption of key ED policies and programs Improved customer service development
focus with one-stop shop approach Expedited plan review process
Strategic Initiatives and Current Situation
1. University Recruitment Higher education feasibility study in
2010 resulted in 31 universities naming Peoria as possible site for future expansion
Contract with university recruiter Exclusive negotiating agreement with
Ottawa University for residential campus at Peoria Place
4 University Locations
Strategic Initiatives and Current Situation2. Investment Zones
Zones to stimulate targeted development through city direct investment (public investment as well as development incentives) and aggressive development partnerships
Emphasis on redevelopment and catalytic economic opportunities
Investment Zones
5 Investment Zones:• Entertainment
District• Old Town• Loop 303• Plaza del Rio/Loop
101• Northern Corridor
Strategic Initiatives and Current Situation3. Health Care Strategy and
Recruitment Completed health care feasibility study
2010 Health care = 19% of Peoria workforce Strong asset in Plaza del Rio 185-acre
campus Create a medical device incubator Develop a recruitment program for
health care practitioners Determine opportunities for health care
systems and recruitment
Strategic Initiatives and Current Situation
4. Business Assistance Program Add more resources to existing small
business and business retention programs
5. Strategic Land Assembly Identify and secure key parcels for targeted
development focusing on investment zones
6. Medical Device Incubator Proposed opening Q4 2011 Partnership with BioAccel and CORE Institute
Quick Facts on Peoria: Entertainment District
1. 2010 – Adopted Urban Redesign Master Plan targeting infill development
35 acres of public parking / 20 acres of vacant land
Quick Facts on Peoria: Entertainment District
2. Contracted with Gensler in October 2010 to create identity for the area, improve connectivity, establish location as destination
3. 2009 Avg. HH Income = $81,4554. 29% of HH Incomes in 2009 > $100k5. 260,000 people in 10-minute radius6. ADTs for Loop 101 = 127,000; Bell Rd =
69,000
Quick Facts on Peoria: Entertainment District7. RFP out for the Sports Complex parking lot (17
acres). Proposals due January 24th
8. Current development project “It’s All in the Game”
Quick Facts on Peoria: Old Town
1. University Recruitment at Peoria Place single most important economic catalyst in Old Town
2. City investing $80 Million in physical improvements
3. Commercial Rehabilitation Program committed to pay 100% of improvements to Old Town Commercial Properties
4. 2009 average HH Income = $69,0095. 300,000 people in 10-minute radius6. ADTs for Hwy 60 (Grand Ave.) = 30,000;
Peoria Ave. = 18,952; 83rd Ave. = 15,000
Quick Facts on Peoria: Northern Peoria
1. Loop 303 scheduled to open this Spring – connects I-10 to I-17
2. Population growth rate projected 4.5% (2009 10-minute radius = 33,452)
3. 2009 average HH Income $87,8974. 39% of HH Income’s in 2009 >
$100k5. Vistancia Master-Planned
Community
Available Space - Industrial
Empire Business Center (NEC Cactus & 91st Avenue) 44,000 SF
available Loop 101 access –
freeway visibility Western Maricopa
Enterprise Zone
Available Space - Industrial Cabot Commerce Center
(NEC Cactus & Loop 101) 200,000 SF available – 24’ ceilings Loop 101 access – freeway visibility Western Maricopa Enterprise Zone
Available Space - Industrial
Hi-Macs Bldg. (8009 W. Olive) 50,000 SF
available – 24’ clear heights
Fenced Paved Yard
Western Maricopa Enterprise Zone
Available Space - Industrial
Arrowhead 101 Business Park (NWC Loop 101 & Thunderbird) 300,000 SF
available – 24-30’ clear heights
Freeway visibility
Adjacent to Rio Vista Park
Available Space - Office
Lake Pleasant Medical Plaza (10204 W. Happy Valley Rd.) 25,000 SF Class A
medical office space 3 miles from Loop 303 ¼ mile from 1.5
million SF of retail
Available Space - Office
Thunderbird Office Park @ 101 (NWC 83rd Avenue and Thunderbird) 63,000 SF Class A
office space 1 mile from Loop
101 Built-out spec
suites available
Available Space - Office
Peoria Center at Arrowhead (SEC 83rd Avenue and Paradise Lane) 14,000 SF Class
A office space 1/2 mile from
Loop 101 In Entertainment
District
Available Space - Retail
Lake Pleasant Pavilions (SWC Lake Pleasant & Happy Valley Road) 40,000 SF, including 20,000
anchor Super Target Anchor Draws from Upscale
Communities 2009 pop. in 10-min radius was
33,452 2009 HHs with Incomes >
$100k = 39% Intersection has 1.5 Million SF
of Retail
Available Space - Retail
Harley Davidson (16130 N. Arrowhead Fountains Center Dr.) 35,500 SF Immediate access to
Loop 101 Entertainment District
2009 pop. in 10-min. radius = 259,564
2009 HHs with Income > $100k = 29%
Available Space - Retail
Park West (NWC Loop 101 and Northern Ave.) 25,000 SF and 7 PADs Immediate access to Loop
101; 2 mi. north of WestGate
Mixed use, open air shopping and dining
2009 pop. In 10-min. radius = 35,519
2009 Avg. HH Income = $72,838
Premiere Available Properties Loop 101 Opportunities Saxa Property at
Park West: 16 acres Northern/115th:
135 acres 95th/Olive: 16 acres 107th/Olive: 10 acres Empire Business
Park: 4 PADs = 35 acres
Plaza del Rio Health Care Campus: 55 acres
Premiere Available Properties Old Town/
Industrial Opportunities – both rail served Rovey Property:
107 acres Mountain View:
20 acres Triad Steel:
18 acres
Premiere Available Properties Loop 303 Opportunities Vistancia Commercial
Core: 500 acres Sewer – available
capacity = 1.65 MGD Water – available
capacity = 3.0 MGD (4.8 MGD by end ‘11)
Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months
Tierra del Rio: 75 acres
Premiere Available Properties
Lake Pleasant Opportunities @CAP canal: 59 acres Westwing Village: 54
acres Promenade: 14 acres @ Jomax: 23 acres @ Yearling: 45 acres @ Pinnacle Peak: 100
acres on 3 corners Happy Valley/95th Ave:
173 acres
Economic Development Incentive and Investment Policy (EDIIP)
Adopted December 2010 to formalize city’s intent to pursue targeted economic development
EDIIP establishes a framework for the city to directly invest in and assist with business attraction, retention and expansion, and redevelopment as well as ROI template
Economic Development Incentive and Investment Policy (EDIIP)
Investment Tools identified: Enterprise Zone Industrial Development Authority Foreign Trade Zone City Direct Investment Lease Revenue Bonds Tax Abatement Government Property Lease Excise Tax (GPLET) Maricopa County Economic Development Fund
Economic Development Incentive and Investment Policy (EDIIP)
Eligible Projects Include:1. Capital Investment (min. $250,000)2. Number of jobs created (min. 10)3. Average salary (min. $50,000 plus benefits)4. Average education level required (min. 4-yr
degree)5. Targeted industries (manufacturing, business
services, healthcare/bio, back office, higher ed, R&D, high tech)
6. Redevelopment projects serving to economically reposition unused or underutilized blighted properties
Priority Old Town Projects
1. Peoria Place (126 acres)
2. Peoria Town Center (22.5 acres)
3. Smitty’s Center (7.5 acres)
4. Goodwill Center (9 acres)
Priority 101 Frontage Project
5. Saxa Property at Park West (16 acres)
Priority Entertainment District Projects6. Sports Complex Parking Lot (17 acres)
7. Entertainment District Redevelopment Opportunities
Priority Northern Peoria Project8. Vistancia
Commercial Core (500 acres)
Sewer – available capacity = 1.65 MGD
Water – available capacity = 3.0 MGD (4.8 MGD by end ‘11)
Power – available capacity = 8-10 mW; expansion to 40 mW in 9-12 months
Priority Medical Campus Projects
9. Plaza del Rio (55 acres)
Peoria Priority Projects
10.Lake Pleasant Parkway and the Loop 303 (1 square mile of state-owned land)
Conclusion
Economic Development Strategy in place
Strong workforce Initial success in both higher ed and
health care Many development opportunities Priority redevelopment projects Aggressive and focused City Council Established Incentive Policy
We invite YOU to build something with us.
Scott WhyteDirector, Economic Development