WHITEWATER UNIVERSITY TECHNOLOGY PARK Studies... · WHITEWATER UNIVERSITY TECHNOLOGY PARK...
Transcript of WHITEWATER UNIVERSITY TECHNOLOGY PARK Studies... · WHITEWATER UNIVERSITY TECHNOLOGY PARK...
WHITEWATER UNIVERSITY TECHNOLOGY PARK
FEASIBILITY STUDY &&STRATEGIC IMPLEMENTATION RECOMMENDATIONS
David J. Ward, Ph.D. NorthStar Economics, Inc.J V l i AICP MSA P f i l S i IJason Valerius, AICP MSA Professional Services, Inc.
July 15, 2008
Project Backgroundj g
Fundamental QuestionWill a jointly-sponsored business parkj y p p(City and UW-W) bring more high-payingjobs to Whitewater?
Consultant TeamNorthStar Economics, Inc.MSA Professional Services, Inc.
Project ScheduleMarch 18 – Kickoff and Initial InterviewsMay 7 Preliminary Draft ReviewMay 7 – Preliminary Draft ReviewMay 12 – Public Information MeetingJune 12 – Final Draft ReviewJuly 15 – Presentation to Common Council
Project Backgroundj g
STEERING COMMITTEESTEERING COMMITTEE
Chris Clements UW-Whitewater (Business School Dean)Jim Caldwell First Citizens BankJon Kachel Commercial BankJon Kachel Commercial BankJim Stewart Common CouncilFred Burkhardt Walworth County EDALeslie Steinhaus Whitewater Unified School DistrictB d G h hi (B i O h Bud Gayhart UW-Whitewater (Business Outreach Services)Dean Fischer City DPW DirectorMary Nimm CDA CoordinatorRyan Garcia City PlannerKevin Brunner City Manager
Project Backgroundj g
Prior PlanningPrior Planning
City of Whitewater and UWW Economic Development Plan 2001Development Plan – 2001
Whitewater Incubator Feasibility Study – 2007
Whitewater Business Park Study – 2007W tewate us ess a Study 00
Walworth County Economic Opportunity Study - 2007
Competitive Environment Analysisp y
44 Business Parks within ~35 miles of Whitewater44 Business Parks within ~35 miles of Whitewater
Adjacent to an Interstate highway 16 (37%)Rail access 14 (32%)Rail access 14 (32%)Business incubator on-site 1 (Watertown)University or Tech school affiliation O
Rail and 4-lane or Interstate4-lane or Interstate, no rail
Rail and 2-lane2-lane, no railOn-site business incubator
Business Park Features
Proposed Technology
Park Site
Technology Park Case Studiesgy
Five Case StudiesU i it R h P k d MG&E I ti C t (M di )University Research Park and MG&E Innovation Center (Madison)Stout Technology Park and Business Incubator (Menomonie)Milwaukee County Research Park & Technology Innovation Center Business Incubator (Wauwatosa)( )Center for Advanced Technology and Innovation (Racine)Advance Business Development Center and Incubator (Green Bay)
Key LessonsKey LessonsProminent University involvement in startup and ongoing management has been important (Stout, Madison) The University probably shouldn’t own and develop the park itself y p y p p(Stout) An on-site business mentor is valuable (Green Bay) Getting that first tenant is an important hurdle (Stout)
UW-W Partnership Opportunitiesp ppSmall Business Development Center (SBDC)Wisconsin Innovation Center (WISC)Global Business Research Center (GBRC)Collegiate Entrepreneurs' Organization (CEO) &
Entrepreneurship Development Centerp p pCenter for Information Technology Services (Wi-CITS)Hawk Internship ProgramOperations and Supply Chain Management ProgramOperations and Supply Chain Management ProgramInternship OpportunitiesBusiness ConsortiumsSystems Analysis and Design ClassSystems Analysis and Design ClassFaculty ConsultingOutsourcing of UW Campus IT Services (ICIT)Technology Transfer WiSysTechnology Transfer - WiSys
Technology Transfergy
Wisconsin Alumni Research Foundation (WARF)UW Madison onlyUW-Madison only
WiSys Technology Foundation (WiSys)WiSys Technology Foundation (WiSys)Rest of UW System
Campus specific programsCampus-specific programsMedical College of Wisconsin Research Foundation (MCWRF)UW Milwaukee Office of Technology TransferMarshfield Clinic Research FoundationMarshfield Clinic Research Foundation
Target Industriesg
Agribusiness Organic farming research; alternative fuels; plant Organic farming research; alternative fuels; plant genetics; software support, etc.
Manufacturing High-end manufacturers especially those with links to High end manufacturers, especially those with links to Waukesha County
Software and ITGaming; homeland security; agribusiness supportGaming; homeland security; agribusiness support
Education and Training ServicesContinuing education offerings through the incubator
Financial Services Financial Services Metavante or Fiserv
Self-employed ConsultantsRetired or down-sized professionalsRetired or down sized professionals
Business Capital Resourcesp
Angel FinancingWisconsin Angel NetworkAct 255 Wisconsin Income Tax Credits
Wisconsin Technology Zone Tax Credits
Potential Revolving Loan Funds
EB-5 Visa Immigrant InvestmentsEB 5 Visa Immigrant Investments
Commercial Banks
Site Analysis
Whitewater Business ParkWhitewater Business Park
Small sitesConstrained by wetlands Constrained by wetlands and stormwater management needsDevelopment style inconsistent with visionfor technology park
Site Analysis
Whitewater University Technology Park
Proposed SiteLimited road access
Rail AccessRail Access
Good visibility from US 12
Sewer and Water FeasibleSewer and Water Feasible
High bedrock (blasting required)
27 acres to be preserved
Phasing & CostsWhit t U i it T h l P kTotal Estimated Cost: $10.8 million
Phase 1
Whitewater University Technology Park
Phase 1 Buy land, extend streets and municipal services to lots 1-6 ($6 2 million)($6.2 million)
Phase 2 Connect Indian Mound Parkway to Highway 59($1.4 million)
Ph 3Phase 3 Complete on-site streets and infrastructure to service
remaining lots (7-16), extend new street to CTH N($3 2 million)($3.2 million)
Capital Resources & Fi i O tiFinancing Options
GrantsWisconsin Department of Commerce (CBED, CDBG)Economic Development Administration
Tax Incremental Financing – TID 6
Capital Resources & Fi i O tiFinancing Options
TID 6 Scenarios
Scenario Infrastructure Construction
Tech Park lot development
Value per acre of developed lots in park
Other development in TID Other Revenue Needed
Revenue available for other uses
$38 illi1 2012-2013 2012-2022 $828,600
$38 million 2009-2010 None $140,000,000
2 2010-2015 2011-2026 $828,600 $38 million 2009-2010
$815,000 beginning 2011 repaid 2020 $149,000,000
3 2010-2013 2010-2020 $828,600 $38 million 2009-2011
$1,085,000, beginning 2010 repaid 2016 $56,000,000
4 2009 2010-2030 $610,800 $38 million 2009-2014
$4,000,000 beginning 2009 repaid 2022 $30,000,000 , p , ,
5 2009-2015 2010-2030 $610,800 $26 million 2010-2015
$4,700,000 beginning 2009 repaid 2027 $1,000,000
Operations and Business Planp
City Develops Park
Whitewater University Technology Park
City Develops Park
City and University Manage Park and Incubator Jointly
Mix of Tech and Non-Tech businesses
M lti l Li k g t UW WMultiple Linkages to UW-WIT assistanceLibrary AccessI t hiInternshipsSingle point of contact to University in Incubator
Operations and Business Planp
Phasing Plan:Phasing Plan:
Stage 1: Plan the Park
Stage 2: Build the Park Phase Zero (Immediately)– Develop commercial along Walworth AvenuePhase One (2010-2013)Phase Two (after Phase 1 completed)Phase Three (based on market demand)
Marketing Plang
Internal MarketingPatience and Persistence will be requiredPatience and Persistence will be requiredProactive response to a shifting economy
External Marketingte al Ma et gAssign Responsibility (CDA or a consultant)
Develop “The Message”, highlighting the advantages of operating a business in Whitewater (space to operate, a skilled workforce, access to UW-W resources, tech transfer, capital networks, incentives, and quality of life)
Focus on a Target Audience (based on the target industries)
Choose Methods for sharing the message (partnerships, website, advertisements, ambassadors)
Feasibility Conclusionsy
Yes if the University is an active participant in this projectYes, if… the University is an active participant in this project
Yes, if… the City and University formalize a partnership with a written agreement
Yes, if… a business incubator is established at the site
Yes, if… retail and service businesses can be developed near the park and within TID 6the park and within TID 6
Yes, if… more partners are signed on with a stake in the success of the park
Yes, if… everyone is prepared to be persistent and patient