beachwood bench marking power point szd august 2011

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1WWW.SZDWHITEBOARD.COM

ECONOMIC DEVELOPMENT STUDYInitial Findings

August 11, 2011

SZD WHITEBOARD

250 WEST STREET

COLUMBUS, OH 43215

WWW.SZDWHITEBOARD.COM


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STUDY OVERVIEW

To provide Beachwoods leadership with a fact-based, actionable plan thatwill help to maintain the citys economic leadership and fiscal healththrough recommended best-in-class organization structure as well asprograms of work.

Phase I Benchmarking

Phase II Analysis

Phase III Recommendations and action plan


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PILLARS OF ECONOMICDEVELOPMENT STRATEGY

Business Attraction Retention and Expansion Community Development


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WHO DID WE TALK TO?

Input from about 50 community leaders

Local and Regional Stakeholders

Blue Ash, Ohio

Worthington, Ohio Greenwood Village, Colorado Middleton, Wisconsin Mount Lebanon, Pennsylvania Rochester Hills, Michigan

Benchmark Communities


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PARTICIPANTS

Mayor Merle S. Gorden

Councilman Fred Goodman

Councilman Mark Wachter

Councilman Mark Mintz

Councilman Justin Berns

Councilman Saul Eisen

Councilman Melvin Jacobs

Councilman Brian LinickMargaret Cannon, City Attorney

George Smerigan, City Planner

Brad Sellers, City of Beachwood

Paul Williams, consultant to City ofBeachwood

Vince Adamus, former City of Beachwoodstaff

Traci Nichols, City of Cleveland

Deborah Janik, Greater ClevelandPartnership

Tom Sudow, former Beachwood Chamberstaff

Douglas Miller, Jacobs Group

Gerald Medinger, Weber, Wood, Medinger

Alan W. Wood, Weber, Wood, Medinger

James Klements, Weber, Wood, Medinger

Bill Mann, Beachwood Chamber

Wayne Lawrence, Beachwood Chamber

Ed Jerse, Cuyahoga County

Jonathan Berns, ORG Portfolio Management

Mike Shemo, Wolf Real Estate ManagementDonald King, The King Group

Mark Munsell, Munsell Realty Advisors

Larry Coven, Coven Goldman Associates

Eric Bell, Goldberg Companies

Jeff Kahn, NAI Daus

Richard Markwardt, Beachwood City Schools

Michelle Mills, Beachwood City Schools

Jim Heller, KA ArchitectureNan Zieleniec, Developers Diversified Realty

Dale Mitchell, Eaton Corp

Deryl Kratzer, Tremco

Rob Clarke, General Growth Properties

William (Bill) Peacock, Cleveland Clinic

David Bronson M. D. President, ClevelandClinic

Cynthia Deyling M.D., Cleveland Clinic

Marsha Powers, Powers Financial Group

John Vojtush, Community Touch

Ned Hill, Cleveland State University

Don Sykes, Psychological and BehavioralConsultants

Rico Pietro, Cresco Real Estate

Tom Waltermire, TeamNEO

Jay Foran, TeamNEO

Christine Nelson, TeamNEO

Jenny Febbo, TeamNEO

Gil Goldberg, US Small BusinessAdministration

Jennifer Ruggles, formerly of the OhioDepartment of Development


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LOCAL AND REGIONALSTAKEHOLDERS

Assets

Challenges

Ideas

Start adialogue

What did wewant toknow?


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GreatCompanies

StrategicLocation

Quality ofPlace

ResponsiveCity

Administration

Strong TaxBase

ASSETS


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GREAT COMPANIES


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STRATEGIC LOCATION

Three Interstate271 Exits

Access to airportand downtown

Access to adiversity of other

communities

Some strongexisting space

ChagrinHighlands

Access to world-class healthcare,education, arts,recreation, etc.


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QUALITY OF PLACE

Highly Ranked Schools

Attractive Neighborhoods

Greater Beachwood Brand

Strong business services (i.e.

banks, law firms, consultants, etc.)

Hospitality services


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RESPONSIVE CITY ADMINISTRATION

Respected and Valued

Professional and BusinessOriented

Quality of Basic Services

Engaged Leadership


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STRONG TAX BASE


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BEACHWOODS VALUE PROPOSITION

When Failure is Not an Option


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CHALLENGES Shift inCompetitiveEnvironment

Changes totheBeachwood

Brand

AgingCommercial

Building Stock

VariableEconomicDevelopment

Program


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SHIFT IN COMPETITIVE ENVIRONMENT

More aggressive

surroundingcommunities

Professional ED teams

Significant use of

economic development

tools

Newer real estate

opportunities in other

communities

Growth of Regionalism Speed, speed, speed


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CHANGES TO THE BEACHWOOD BRAND

Beachwood extends much further than the city limits

Where are the city limits, anyway?

Outside of the residential areas, no consistent sense of place.

No consistent marketing/branding strategy.


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AGING COMMERCIAL BUILDING STOCK

Commerce Park

Chagrin Boulevard

Parts of Science Park Other areas of the Richmond/I-271 corridor

Redevelopment vs. new development

Problems with parking, access, density and layout


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VARIABLE ECONOMIC DEVELOPMENT

PROGRAM

Staff

Program of work

Structure

Incentive policy

Budget

Sales and marketing


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BENCHMARK COMMUNITIES

Successful benchmark communities areleaders in regional economic developmentefforts.

The broader market determines the need forincentives (i.e. Denver v. Cleveland).

Budgets vary greatly. In general, the tougherthe regional market, the higher the economicdevelopment budget.

Successful communities exploit their ability tosupport projects differently than the privatesector.

LESSONSLEARNED


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BENCHMARKING SNAPSHOT

Beachwood Blue AshGreenwood

Village Middleton Mt LebanonRochester

Hills Worthington

Total Population

Med HouseholdIncome

EducationalAttainment

KnowledgeWorkers

Unemployed


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INCENTIVE PROGRAMS



Hills Worthington

Tax IncrementFinancing

N Y N Y Y Y Y

Property TaxAbatement

N N N N N Y Y

Land Bank N Y Y N N N N

Revolving LoanFund

N N N Y N N N

Y = YesN = No


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ECONOMIC DEVELOPMENT FUNCTIONS



Hills Worthington

Business Retention& Expansion

Web Presence

Marketing

Incubation N Y N N N N N


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KEY LESSONS

Retention and Expansion and Tax Increment Financing

Blue Ash, OH

Regionalism

Greenwood Village, CO

Tax Increment Financing

Middleton, WI

Cautionary

Mt Lebanon, PA

Redevelopment and Tax Increment FinancingRochester Hills, MI

In Process

Worthington, OH


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PILLARS OF ECONOMICDEVELOPMENT STRATEGY

Business Attraction Retention and Expansion Community Development


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WHAT COMES NEXT?

beachwood bench marking power point szd august 2011

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