WHITEWATER UNIVERSITY TECHNOLOGY PARK

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Agnes Hood
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1 WHITEWATER UNIVERSITY TECHNOLOGY PARK FEASIBILITY STUDY & STRATEGIC IMPLEMENTATION RECOMMENDATIONS David J. Ward, Ph.D. NorthStar Economics, Inc. Jason Valerius, AICP MSA Professional Services, Inc. July 15, 2008

2 Fundamental Question Will a jointly-sponsored business park (City and UW-W) bring more high-paying jobs to Whitewater? Consultant Team NorthStar Economics, Inc. MSA Professional Services, Inc. Project Schedule March 18 Kickoff and Initial Interviews May 7 Preliminary Draft Review May 12 Public Information Meeting June 12 Final Draft Review July 15 Presentation to Common Council Project Background

3 Project Background STEERING COMMITTEE Chris Clements UW-Whitewater (Business School Dean) Jim Caldwell First Citizens Bank Jon Kachel Commercial Bank Jim Stewart Common Council Fred Burkhardt Walworth County EDA Leslie Steinhaus Whitewater Unified School District Bud Gayhart UW-Whitewater (Business Outreach Services) Dean Fischer City DPW Director Mary Nimm CDA Coordinator Ryan Garcia City Planner Kevin Brunner City Manager

4 Project Background Prior Planning City of Whitewater and UWW Economic Development Plan 2001 Whitewater Incubator Feasibility Study 2007 Whitewater Business Park Study 2007 Walworth County Economic Opportunity Study

5 Competitive Environment Analysis 44 Business Parks within ~35 miles of Whitewater Adjacent to an Interstate highway 16 (37%) Rail access 14 (32%) Business incubator on-site 1 (Watertown) University or Tech school affiliation O

6 Business Park Features Rail and 4-lane or Interstate 4-lane or Interstate, no rail Rail and 2-lane 2-lane, no rail On-site business incubator Proposed Technology Park Site

7 Technology Park Case Studies Five Case Studies University it 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 Lessons Prominent University involvement in startup and ongoing management has been important (Stout, Madison) The University yprobably shouldn t own and develop the park itself (Stout) An on-site business mentor is valuable (Green Bay) Getting that first tenant is an important hurdle (Stout)

8 UW-W Partnership Opportunities Small Business Development Center (SBDC) Wisconsin Innovation Center (WISC) Global Business Research Center (GBRC) Collegiate Entrepreneurs' Organization (CEO) & Entrepreneurship p Development Center Center for Information Technology Services (Wi-CITS) Hawk Internship Program Operations and Supply Chain Management Program Internship Opportunities Business Consortiums Systems Analysis and Design Class Faculty Consulting Outsourcing of UW Campus IT Services (ICIT) Technology Transfer - WiSys

9 Technology Transfer Wisconsin Alumni Research Foundation (WARF) UW-Madison only WiSys Technology Foundation (WiSys) Rest of UW System Campus-specific specific programs Medical College of Wisconsin Research Foundation (MCWRF) UW Milwaukee Office of Technology Transfer Marshfield Clinic Research Foundation

10 Target Industries Agribusiness Organic farming research; alternative fuels; plant genetics; software support, etc. Manufacturing High-end manufacturers, especially those with links to Waukesha County Software and IT Gaming; homeland security; agribusiness support Education and Training Services Continuing education offerings through the incubator Financial Services Metavante or Fiserv Self-employed Consultants Retired or down-sized professionals

11 Business Capital Resources Angel Financing Wisconsin Angel Network Act 255 Wisconsin Income Tax Credits Wisconsin Technology Zone Tax Credits Potential Revolving Loan Funds EB-5 Visa Immigrant Investments Commercial Banks

12 Site Analysis Whitewater Business Park Small sites Constrained by wetlands and stormwater management needs Development style inconsistent with vision for technology park

13 Site Analysis Whitewater University Technology Park Proposed Site Limited road access Rail Access Good visibility from US 12 Sewer and Water Feasible High bedrock (blasting required) 27 acres to be preserved

14 Whitewater t University it Technology Park Proposed Site Plan

Whitewater t University it Technology Park Total Estimated

2 million) Phase 2 Connect Indian Mound Parkway to Highway 59

15 Whitewater t University it Technology Park Total Estimated Cost: $10.8 million Phase 1 Buy land, extend streets and municipal services to lots 1-6 ($6.2 million) Phase 2 Connect Indian Mound Parkway to Highway 59 ($1.4 million) Phasing & Costs Phase 3 Complete on-site streets and infrastructure to service remaining lots (7-16), extend new street to CTH N ($3.2 million)

16 Capital Resources & Financing i Options Grants Wisconsin Department of Commerce (CBED, CDBG) Economic Development Administration Tax Incremental Financing TID 6

17 Capital Resources & Financing i Options TID 6 Scenarios Scenario Infrastructure Construction Tech Park lot development Value per acre of developed lots in park $828,600 Other developme nt in TID Other Revenue Needed Revenue available for other uses $38 million None $140,000, $828, $828,600 $38 million $38 million $815,000 beginning 2011 repaid 2020 $149,000,000 $1,085,000, beginning 2010 repaid 2016 $56,000,000 $38 million $4,000,000 beginning $610, repaid 2022 $30,000,000, $610,800 $26 million $4,700,000 beginning 2009 repaid 2027 $1,000,000

18 City Develops Park Operations and Business Plan Whitewater University Technology Park City and University Manage Park and Incubator Jointly Mix of Tech and Non-Tech businesses Multiple l Linkages to UW-WW IT assistance Library Access Internships Single point of contact to University in Incubator

19 Operations and Business Plan Phasing Plan: Stage 1: Plan the Park Stage 2: Build the Park Phase Zero (Immediately) Develop commercial along Walworth Avenue Phase One ( ) Phase Two (after Phase 1 completed) Phase Three (based on market demand)

20 Marketing Plan Internal Marketing Patience and Persistence will be required Proactive response to a shifting economy External Marketing Assign 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)

21 Feasibility Conclusions Yes, 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 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

22 Thank you. Questions Comments Discussion

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