REAL ESTATE PPP AND ECONOMIC DEVELOPMENT “LET’S MAKE A DEAL”
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Transcript of REAL ESTATE PPP AND ECONOMIC DEVELOPMENT “LET’S MAKE A DEAL”
REAL ESTATE PPP AND ECONOMIC DEVELOPMENT
“LET’S MAKE A DEAL”
PPP AND ECONOMIC DEVELOPMENT
Formula for success Create mutual opportunity for both public/private sector Many times more “art than science” despite our best efforts Human Factor Political Dimension Solve problems in novel way leads to more success and economic growth
THE ECONOMIC DEVELOPMENT CONUNDRUM IN THE UNITED STATES
Motivated by job creation goal
Competition is fierce Pure Governmental units
have limits on ability to engage private sector
ED Goal is to not only get jobs in the door—but good paying jobs
“Seller” “Buyer”
1500 MajorPlant
Expansions
15,000 EDOrganizations
THE REAL ESTATE DEVELOPMENT CONUNDRUM IN THE UNITED STATES
Motivated by Profit Highly competitive Provincial attitudes Barriers to entry Building trust in an
environment of high hopes and fear of failure
SPEED and EFFICIENCY
SOLUTION—PPP DRIVEN ECONOMIC DEVELOPMENT
PPP real estate Project “What it takes” Concept to Completion—
VISION Collaboration Coordination Communication
PPP CASE STUDYKILGORE, TEXAS
BUILDING AN ECONOMIC DEVELOPMENT BASE—GROUND UP
SOLUTION—NEW GROWTH FOR KILGORE, TEXAS
Kilgore Economic Development Corporation (KEDC)
always looking to diversify/expand economic base
Historically an Oil industry dominated economy
Located between Shreveport, Louisiana and Dallas,
Texas on I-20
Create additional base of jobs
Common goal with SP
Common “client” with SP
Objectives clear
SOLUTION—RETAIN AND GROW CORPORATE CLIENTS
Bring together resources of both KEDC and SP
Communication and Problem Solving Approach
Great Working relationship
KEDC provided 9.2 acre site to SP for $1
KEDC provided grant $ and tax abatement to Alcoa Closure Systems
International (CSI)
SP invested $8.5 Million USD
Provide 70 new jobs in Kilgore, Texas
Provide a new facility for Alcoa CSI
RESULTS—PRODUCING STRONG ECONOMIC GROWTH