the rochester advantage - state of the city 2013

The Rochester Advantage

Leading the New Hampshire Recovery

State of the City – March 5, 2013

What is the Rochester Advantage?

• People• Growth• Location• Commitment • Amenities• Value• Potential

Leading Indicators

Strategic Goals Relevant Measures

Implement the City’s Route 11 Corridor Plan

MS-1, Business Starts, Building Permits, TIF Plan, Announcements

Acquire and Expand Business Parks

TIF Plan, Public Infrastructure, Land Sales

Become a Main Street Community

Main Street Stats

Reinforce Business Retention & Expansion Program

# Firms Visited, Referrals, Expansions & Assistance

Expand Economic Development Capacity

# Staff & Volunteers, Training, Materials, Communication

Improve the City’s Development Review Process

Completed Apps, PB Meetings to Approval, Variances, Complaints

Stimulate Additional Education & Training Opportunities

Facilities & Students Enrolled, Educational Attainment

Leading Indicators

Strategic Goals Relevant Measures

Reposition Underperforming Properties

MS-1, Building Permits, ERZ Zones, TIF Zones, Sales

Create a TIF District to Fund Infrastructure Investment

TIF Zones, Public vs. Private Investment

Position the City as the Region’s Foremost Entrepreneurial City

Resources for Start-Ups, # Start-ups, # of Small Biz

Positively Impact the Image of City Government and Schools

Branding Initiative, Unification of Message

Invest in Downtown Neighborhood Improvements

Public Investment by Ward or Zone

Maximize Impact of Spaulding Turnpike Expansion

MS-1, Building Permits, Variances, Sales

Collaborate with Chamber of Commerce

Joint Ventures or Projects

Opportunities for the Future

Strategic Goals Relevant Measures

Master Plan for Skyhaven Airport Use of Airport, Use for or by Biz, Land Values & Rents

Master Plan for Rochester Fairgrounds

Use of Fairgrounds, # Visitors, Crime Reports, Land Values & Rents

Downtown Building Owners Association

% of Local Ownership, Participation in Main Street Events, Investment

Comprehensive Tax Base Analysis N/A – Point to underperforming areas & opportunities

Update Downtown Master Plan Ten Years with Much Success, Ready for More

Evaluate Downtown Traffic & Wayfinding

Traffic Counts, Foot Traffic, Downtown Survey, Visitors to DT

Expand & Improve Public Transit Ridership & Distance to a Transit Location

Employment Growth

NH Employment Security – Rochester-Dover MetroNECTA

Private Sector Employment

Earnings &

• Per Capita Income $27,902

• Median Earnings – Male full-time $47,483

• Median Earnings – Female full-time $36,507

• Families with SNAP (last 12 months) 10.1%

• Women owned firms 30.1%

• Firms in Rochester 2,325

• Small Business 99%

Family Incomes

Mean Family Income $77,001 Median Family Income $64,375

Educational Attainment

Housing • Housing Units 13,372• Ownership 70.4%• Persons Per

Household 2.39

Market Advice What advice would you

have for a Rochester home buyer @ this point, as will home prices also be increasing due to new aviation business coming soon?

Asked by Linda, Somersworth, NH • Jan 13, 2013

I don't think we are going to see any immediate surge in home prices however I do think this is an excellent time to buy. Prices are at the low end of the curve at the same time as interest rates, creating a great opportunity for home buyers. I think we will see home prices begin to increase at a normal or modest rate over the next few years along with the expanding economic recovery. The pent up demand created by slow sales of the past several years may cause some area increases that are faster than others. Either way 2013 should be a great year to invest in Rochester and your future

Tim Fontneau, Agent, Rochester, NH

Development Stats

2012 Taxable Property

Commercial & Industrial

Arts & Economic Prosperity

Downtown Business District• Reinvestment Stats• Increased Occupancy rates on

North Main St. & Hanson Street• Overall 5% increase since 2006• Total of 222 businesses currently in

the Downtown Business District• Total of 391 Projects since 2006• Total Private Investment of

$5,240,049• Investment Ratio: $1/$29.94• Annual Tax Revenue Increase:

$125,183.60

• Brown Bag Concert Series Returning on Fridays

• Raised more than $43,000 in donations & grants for Parson Main & Central Square

The Rochester Main Street Program volunteers work constantly to make Downtown a destination for entertainment, shopping & dining.

Can We Compete?

• Technology Changes– Software– Mobility– Social Media

• New Staff• Changing Roles• Customer Service!• Adapt to changing

budgets and expectations

Mission & Results Directed Team & Network Driven Accountable for Results

www.ThinkRochester.biz

@RochesterEDC