Stafford County Economic Development FY 2018 Business Plan. February 10, 2017

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Camilla Cox
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1 Stafford County Economic Development FY 2018 Business Plan February 10, 2017

2 Recommendations Provided in Stafford County Economic Development Strategic Plan OBJECTIVE DESCRIPTION LEAD TIME FOR IMPLEMENTATION BUSINESS PLAN ACCOMMODATION T-1 Initiate the QuIC Initiative Objective Plan T-2 Continue to Increase Awareness of Shovel-Ready Sites T-3 Enhanced Utility and Road Infrastructure Serving Key Commercial and Industrial Sites T-4 Continue Business Retention and Expansion and Workforce Preparedness Efforts T-5 Work to Increase Broadband Availability - especially in redevelopment areas T-6 Leverage the Regional Industry Cluster Analysis to Refine Marketing Efforts T-7 Continue to Enhance the Economic Development Toolbox STRC Top priority / Mid-term Integrated into 2018 Work Plan under #9 Incubator/Accelerator EDT Top priority / Short-term Integrated into 2018 Work Plan under #4 Product Enhancement EDT PW Utilities Administrati on Top priority / Mid-term Integrated into 2018 Work Plan under #4 Product Enhancement EDT Top priority / Ongoing Integrated into 2018 Work Plan under #7 Business Retention and Workforce EDT Top priority / Short-term Integrated into 2018 Work Plan under #4 Product Enhancement EDT Top priority / Short-term Integrated into 2018 Work Plan under #5 Marketing EDT Top priority / Short-term Integrated into 2018 Work Plan under #2 MOU s & Technical Assistance 2

3 Recommendations Provided in Stafford County Economic Development Strategic Plan OBJECTIVE DESCRIPTION LEAD TIME FOR IMPLEMENTATION BUSINESS PLAN ACCOMMODATION H-1 Continue Efforts to Attract Upscale Retail and Restaurants H-2 Conduct Economic Development Best Practices Seminars H-3 Support Development of an Angel/Venture Capital Network P-1 Explore Other Opportunity Areas for Economic Development P-2 Work Across Silos - Continue to Enhance the Coordination between Economic Development, Planning & Zoning, Public Works, and Fire/Rescue P-3 Continue to Enhance the Economic Development Website P-4 Promote Mixed-Use Development around Redevelopment Area Gateways and Possibly VRE Stations EDA EDT High priority / Mid-term Integrated into 2018 Work Plan under #3 Quality of Life Factors EDT High priority / Mid-term Integrated into 2018 Work Plan under #2 MOU s and Technical Assistance SBDC EDT High priority / Short-term Integrated into 2018 Work Plan under #9 Incubator/Accelerator EDT Priority objective / Long-term Integrated into 2018 Work Plan under #3 Quality of Life Factors EDT and All Departments Priority objective / Ongoing Integrated into 2018 Work Plan under #4 Product Enhancement EDT Top priority / Short-term Integrated into 2018 Work Plan under #5 Marketing EDT Priority objective / Long-term Integrated into 2018 Work Plan under #4 Product Enhancement and #3 Quality of Life Factors 3

4 Recommendations Provided in Stafford County Economic Development Strategic Plan OBJECTIVE DESCRIPTION LEAD TIME FOR IMPLEMENTATION BUSINESS PLAN ACCOMMODATION P-5 Evaluate Economic Development Staffing O-1 Create Better Visual Impact Signage from I-95 O-2 Support MCBQ in Future BRAC Rounds through Implementation of JLUS O-3 Support DoD B-2-B Forums to Connect Local Companies to MCBQ O-4 Assess Current Zoning Categories and Processes (Form-based Codes, PTND) O-5 Develop a Unified and Coordinated Tourism Plan O-6 Develop a Hub of Innovation through GCC/UMW O-7 Support Enhanced Coordination of K-12 -> STEM - > GCC -> UMW EDT Priority / Mid-term Integrated into 2018 Work Plan under general guidelines of the Department Structure EDT Integrated into 2018 Work Plan under #4 Product Enhancement Integrated into 2018 Work Plan under #4 Product Enhancement EDT Integrated into 2018 Work Plan under #2 MOU s & Technical Assistance Integrated into 2018 Work Plan under #3 Quality of Life Factors EDT Integrated into 2018 Work Plan under #6 Tourism Promotion EDT Integrated into 2018 Work Plan under #4 Product Enhancement Integrated into 2018 Work Plan under #8 Retention Program & Workforce 4

5 Directive This Business Plan is prepared to implement the BOS Strategic Plan and submit for the Board s review and discussion. The Business Plan outlines the Department s structure, tools, product focus and desired outcomes for FY Primary Objective BOS Way Point Check for Planning the Department s FY 2018 Activities and Beyond 5

6 Summary and Outline Structure: Department TEAM and Partners Tools: Tools the Department will use to enhance Stafford County s economic competitiveness. Product: Enriching Stafford County s position in terms of shovel-ready sites, infrastructure, quality of life, and workforce. Outcomes: Desired measures of success, both quantitative economic indicators and qualitative results. FY 2018 work program. 6

7 Structure Important to create structure that balances public and private sector needs and strengths Internal Team: o Department staffing pending; replacing assistant director with a new Business Recruitment Manager. Local Partnership: o Public-private partnership between Department & EDA; Other community groups are involved Regional Partnership: o Fredericksburg Regional Alliance; a collaboration between 4 counties, UMW and Germanna. State Partnership: o Department of Virginia Economic Dev. Partnership (VEDP) 7

8 Strategic Plan: Collaborating with local partners, the Department will implement the BOS Strategic Plan. Tools Improvement of Business Climate: Continually focus on business climate through working with regulators to provide case assists and process enhancements. Sites Database and Infrastructure Availability: Ensure sufficient suitable land (with infrastructure) for job creation projects & develop an interactive database of sites & buildings to assist businesses. 8

9 Tools Incentives: Establish baseline incentives accepted by the Board; Participation in State-level incentives; Department s existing incentives include: Technology Zone Incentive Program Stafford County Opportunity Fund Modified Tax Increment Financing Tax Exempt Industrial Revenue Bonds EDA Grants & Incentives 9

10 Tools Business Retention: A visitation/assistance program to be managed by staff; Focused on aiding existing businesses and enabling them to grow and prosper. Business Recruitment: A program to be coordinated with partners; Focused on attracting new jobs and companies through marketing, incentives, contacts, outreach and relationships. International Trade: Working to increase foreign-direct investment and international trade; Working with VEDP and international site consultants. 10

11 Tools Marketing Efforts: Collaborative effort with partners that promotes Stafford County as a premier business destination. Incubator/Accelerator: Partner with QuIC a technology business incubator/accelerator in Stafford County that is a magnet for early and start-up stage technology companies. Creates a Hub for domestic technology firms and encourage foreign-direct investment. 11

12 Product Suitable Land and Sites: Build up an inventory of permitready sites in market preferred locations, with zoning in place. Infrastructure and Utilities: Facilitate equipping sites with roads, water & sewer, fiber optic, and gas access for Economic Development purposes. Quality of Life: Attractive residential, suburbs, good schools, retail, restaurants, and mixed-use developments shape the communities image and appeal to prospects. Workforce: Leverage regional, state and local training providers to ensure good data and adequate labor supplies for prospects. 12

13 Indicator FY 2018 Target Level of Action to Achieve Employment Growth (#) Highest among similarly populated counties Ambitious, possible but phenomenal achievement Gross Flow of Earnings growth rate 4% above state average Aggressive, likely but difficult Gross County Product growth rate or nearest 4% above state average Aggressive proxy Unemployment Rate 1 point below state average Ambitious Gains in Average Wages 5% Ambitious Average Annual Sales Tax Growth 3% Ambitious Property Value Growth 3% over state average growth Ambitious Personal Property Tax Growth 3% over previous year Aggressive Tourist Occupancy Tax Growth 6% over previous year Aggressive Meals Tax Growth 6% over previous year Aggressive Number of Target Industry Prospects 25 Ambitious Number of actively managed Target Ind. 10 Ambitious Projects Percentage of Target Industry Prospects 25% Ambitious making a commitment Committed Target Industry Jobs 5% growth above baseline Ambitious Number of Com. Dev. Projects 20 Aggressive Committed Com. Dev. Projects 10 Aggressive Tourism Annual Visitation 5% over previous year Aggressive Potential New Businesses Counseled 5% over previous year Aggressive Percent of county job growth attributable to Department efforts 15% Ambitious Outcomes Several Key Indicators to Assess Success & Progress 13

14 Outcomes Regulatory & Permitting: Work with efforts currently ongoing to streamline, create more business-friendly climate. Organizational Capacity: Continually working to increase capacity and refine roles and responsibilities. Consensus and Community Support: Continually working to garner community support and consensus. 14

15 FY 2018 Work Plan Target Accomplishment Outcome Action Steps Performance Indicator Status 1. Business Plan: Create and receive BOS approval of Department s FY 2018 Business Plan. 2. MOUs & Tech. Assist: Establish local economic development policies tailored for the Stafford community. Identify guidelines and basic goals for Department to follow during FY Increase Stafford s economic competitiveness. 1. Present Business Plan to BOS. 2. Finalize BOS input. 1. Review all existing programs. 2. Propose incentive options. 3. Conduct Technical Assistance Seminars - BOS directive to implement 1. Participation level of incentive programs 2. Outreach Programs 3. See economic indicators. 3. Quality of Life Factors to include: Restaurants, Retail, Health Care, Enviable Community, Rural Compatible, Riverfront Development Streamline and improve quality of life strategies, services and measure performance. 1. Prospect the developers serving these industries. 2. Contact suppliers serving these industries to isolate & I.D. prospects. 3. Develop marketing approach to these Prospects 1. Qualitative Satisfaction Survey from Citizens 2. See Economic Indicators 4. Product: Update web based real estate search, support suitable land with infrastructure and utility provision, Broadband proliferation, Redevelopment in designated areas. Database of real estate sites, Monitor status of adequate sites/infrastructure, promote broadband disbursement, 1. Integrate site search into website design. 2. Coordinate with Pub Wks, Planning for utility, zonings, in regarding infrastructure availability and plan for addressing deficient sites. 3. Explore redevelopment funding through grants 1. Increased sites. 2. Recognition from developer community and site selectors. 3. Engagement from real estate community. 4. Investment for redevelopment 15

16 FY 2018 Work Plan 5. Marketing: Maximize Department s marketing efforts and resources, leveraging with state and regional partners, update Website. Create easily identified and understandable materials that promote Stafford County as a premier business destination. 1. Identify key marketing needs and local attributes. 2. Design web marketing materials for style and content. 3. Electronically publish and distribute hard marketing materials. 1. Updated Department website, high visitation. 2. Recognition of marketing materials by site consultants 3. Increased Recruitment Prospects 6. Tourism: Enhance Stafford County as a Tourism Destination. Increase visitations, viable attractions, and improved transit occupancy tax collections. 1. Develop a Tourism Plan. 2. Identify markets, tactics and targets. 3. Implement those plans and build consensus among local tourism partners 1. See Economic indicators 2. Support from business community and citizens. 7. Recruitment Program: Develop an active business recruitment program in conjunction with partners. Attraction of new, expanding, and relocating business to Stafford County. 1. Review Stafford s key business advantages. 2. Align our recruitment programs with industry best practices. 3. Build relationships with site selector community. 4. Discuss proposals with community and regional partners to build an integrated and consensusdriven program. 5. Execute recruitment activities 1. Recognition of program by business community and site selectors. 2. See Economic Indicators 3. Contacts with business community. 4. Increased success with VEDP FRA project referrals. 5. Number of successfully committed projects. 8. Retention Program & Workforce: Develop resources and programs to retain jobs. Prevent county job losses and relocations and encourage organic business growth within Stafford. Execute business visitation, retention program. Leverage SBDC, and other state small business resources. - Growth of locally-based businesses. - Retention of local jobs. - Knowledge of local business climate. 16

17 FY 2018 Work Plan 9..Incubator/Accelerator: Support QuIC incubator/accelerator focused on domestic startups and perhaps foreign-direct investment and international linkages. 10. Business Climate: Improve the county s business climate by focusing on streamlined regulatory processes, business assistance, and other services. Provide unique opportunities for technology advancement, international trade and economic linkages while encouraging organic, local economic growth. Project Stafford County as a world-class destination for business. 1. Garner community (business & citizen) resources and support for initiative. 2. Build linkages with dept. functions and Accelerator. 1. Input from business and community leaders, and customers. 2. Cultivate relationships with key county staff across various departments. 3. Synthesize inputs from business and community leaders and county staff. 4. Key on these issues with regulatory environment. 5. Shepherd important projects by leveraging relationships. 6. Climate effort will remain an on-going process. -Increased tenants in Accelerator -Growth in Technology based Industry - Feedback from businesses and citizens. - Reduced time for regulatory approval. - Increased business interest in Stafford County. - Increased contacts with the Department. 17

18 Business Plan New Beginning for Ramping Up the Game in Stafford Prepare for Board review and discussion, a Business Plan outlining the Department s appropriate structure, tools, product and desired outcomes for FY Objective Adoption of Department s FY 2018 Business Plan. 18

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