Coastal Alabama: Stronger Together Wiley Blankenship // Coastal Alabama Partnership. August 18 th, 2016
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1 Coastal Alabama: Stronger Together Wiley Blankenship // Coastal Alabama Partnership August 18 th, 2016
2 About // Coastal Alabama Partnership Formed in October 2012, CAP is a 501 (c)(3) private sector-lead, not-for-profit organization focused on providing a platform for regional leaders to convene, collaborate, build consensus and advocate for Coastal Alabama s top priorities. Our guiding principal is to strive for bold, attainable goals that ensure a healthy, sustainable society for Coastal Alabama.
3 Created by nine founding entities throughout the Baldwin and Mobile counties, CAP's impact reaches far beyond its organizational structure. These partnerships (including those indicated to the right) expand CAP's sphere of influence to over 4,700 businesses and nearly 150,000 employees region wide.
4 Why Do We Need a Regional Strategic Plan? To set a baseline for where our region stands currently, create guiding principles, set a bold vision for our future and to develop an implementation plan. To help chart a course toward a stronger economy and better quality of life. To understand the entire Coastal Alabama economy and how it compares to others throughout the state and the nation.
5 Why Do We Need a Regional Strategic Plan? This plan is not intended to replace any others, but to provide a regional perspective on commonalities, redundancies and gaps among the individual plans. It is intended to assist the region in managing and planning more efficiently. It can provide a framework around which regional partners can apply for and receive grants and other development dollars.
6 Regional Strategic Plan // Initial Phase Economic Significance of and Opportunities for Mobile and Baldwin Counties Coastal Alabama Team of GMC and Janus Institute selected for project GMC a leading Southeastern A&E and planning firm Janus community and economic development; home of Janus Forum
7 Initial Phase // Project Elements Economic role and significance of Coastal Alabama to state Mobile and Baldwin regional economy compared to Other metro areas in state Other port areas Opportunities for future economic growth and diversity Non traditional Economic analysis/modeling combined with extensive local input information gathering and interviews
8 Initial Phase // Project Outcomes Clear understanding of economic trends and significance of Mobile and Baldwin Coastal Alabama economy Identify opportunities for the future of the Coastal Alabama economy Local input and ideas Comparisons to other areas
9 Economic Development the process and policies by which a community improves the economic, political, and social well-being of its people. Manufacturing Trade Tourism Residential Development Commercial Development Innovation - Entrepreneurial Opportunities
10 Prelim Results CAP Regional Strategic Plan Economic Development Component
11 Coastal Alabama s Economic Role in the State is Strong and Growing Coastal Alabama contributes more than its share in multiple tax revenues Coastal Alabama is poised to grow with national industries of the future Coastal Alabama s economy is diversified beyond just the biggest most visible industries The future of economic development is bright in Coastal Alabama
12 The PRESENT: Coastal Alabama is a Vital Part of the State s Economy Coastal Alabama s (Mobile + Baldwin) population and number of jobs are second only to the Birmingham-Hoover Metro Area Coastal Alabama has 12.7% of the state s population but accounts for 15.4% of property taxes and 38.9% of lodgings taxes. The Alabama State Port at Mobile 128,000 direct and indirect jobs, over $500 MM in direct and indirect state taxes and total economic impact of $18 billion Baldwin County is home to 10 of the 30 fastest growing cities in Alabama
13 Coastal Alabama s Strong Economic Development Present and Future Many major local industry sectors experiencing strong 5-year job growth Steel product manufacturing (54%) Ship and boat building (41.3%) Basic Chemical Manufacturing (15.1%) New and growing major industry sectors Aerospace product parts and manufacturing (Airbus) Management of Companies and Enterprises Manufacturing
14 Coastal Alabama is the Economy of the Future Coastal Alabama s 5-year job growth rate exceeds the State in 9 of the 13 most rapidly growing national industry sectors. Healthcare (12.4% local growth vs 7.5% state growth) Professional, Technical and Scientific Services (2.0% vs 0.4%) Manufacturing (22.4% vs 7.4%) Because of this differential growth, Coastal Alabama s share of the State economy is poised to increase Coastal Alabama s economy will become even more important to the State
15 The PRESENT: Coastal Alabama is a Vital Part of the State s Economy Coastal Alabama accounts for over 1/3 of all travel spending in Alabama, totaling roughly $4.1 billion per year. 8,704,290 guests visit Coastal Alabama annually, accounting for 37% of total visitors to the State (23,509,185).
16 Coastal Alabama is the Economy of the Future Coastal Alabama job growth rate also exceeds the State in 20 of the 25 key national industries that contribute strongly to community growth and development. Data processing and hosting (5.1% vs 0.5%) Information Services (17.1% vs 6.1%) Technical consulting services (36.7% vs 27.8%) Financial Investment (33.9% vs 31.1%) Turned Products Advanced Manufacturing (17.4% vs 11.2%)
17 Elephants or Herds of Ants? Large industries and big announcements get the headlines, but many service and emerging industries are also growing the local economy Management, scientific and technical consulting services (37% 5-year growth rate) Architectural, Engineering and Related Services (10.4% growth rate) Paint, Coating and Adhesive Manufacturing (63.1% growth rate)
18 Key and Growing Coastal Alabama Industry Clusters Long-term data from US Cluster Mapping Project (US Economic Development Administration and Harvard University): Insurance Services (2,519 jobs, 35% 15-year growth rate) Business Services (12,663 jobs, growth rate of 12%) Hospitality and Tourism (5,102 jobs, growth rate of 7%) CAP study addresses opportunities to strengthen existing and identify new opportunities in the region. Creative sectors and millennial influence
19 Creative Sectors Motion Picture & Video Industries Specialized Design Services Perfomring Arts Companies Indepednent Artists, Writers & Performers Mobile, AL 2011 Employmeny: Employment: 614 Percent Change: 1.5%
20 Positioned for Great Economic Development Success Coastal Alabama is beginning to develop opportunities for millennials, making the area an attractive location to work and live. Innovation PortAL The Exchange 202 The Container Yard Round House USA considerations of investment in Downtown Mobile Investment in downtown Housing However, the impact of millennials is still virtually untapped. There is a need to create additional infrastructure to address it.
21 Conclusions // Always Stronger Together Economic development is strong in Coastal Alabama and the economic future looks bright However, we must provide the hardware (e.g. infrastructure) and the software (e.g. workforce) to support this promising future or it won t happen
22 Two Counties // Stronger Together The Coastal Alabama economy is closely linked by residential, work, and commuting patterns 76% of Mobile County residents work in Mobile County 26% of Baldwin County residents work in Mobile County
23 Contact and Follow Us Wiley Blankenship CEO & President // Coastal Alabama Partnership
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