Economic Development Economic Development Vital to Dania Beach’s Survival and Growth Lingering effects of U.S. recession Airport impacts to City’s tax base Competition from neighboring cities Aged building and housing stock Shifting business sectors

 Job Creation  Job Retention  Attract Investment  Improve Tax Base  Preserve Quality of Life The Pillars of Economic Development

CRA Economic Development Objectives Create 2,500 new high skill, high wage jobs in Dania Beach over five years Attract $100 million in new capital investment to the City during the same period Increase industrial/commercial tax base accordingly

How are we going to do it ? Incubation of new small businesses Retain and expand existing businesses Focus on new, high growth sectors Aggressive outreach to innovative investors, corporate leaders

Broward County Economic Growth ) Lowe Foundation Broward County Economic Growth ( ) Lowe Foundation Expand 168,124 Contract 67,629 Net 101,221 Close 96,365 Open 197,594 Net 100,495 Move In 33,826 Move Out 24,592 Net 9,234 Establishments Jobs Net 63,139 Close 337,645 Open 400,784 Growth From Florida Companies Self Stage 1 (1-9 employees) Stage 2 (10-99) Stage 3 ( ) Stage 4 (500+) 28,808 57,883 [1,115] [26] [9] 28, ,867 [23,086] [4,085] [20,898] EstablishmentsJobs Job Growth From Small Companies

Incubation is important to our growth Facilities. Provide entrepreneurs with low cost physical space, admin support, common conference space and research facilities (wet labs) Professional support. Legal, financial, marketing counsel and business plan review Financial Advice. Need to attract debt or equity capital including venture or angel investors Technology Transfer. New businesses spring from patents generated by universities, high tech corridor, NASA Peer Review. Unvarnished feedback during 2-year ramp up Provide low-cost startup offices Incent high wage, high skill future employers

Business retention is fundamental Business Contact –Database; annual, 1/4ly meetings; leaders council; sector breakfasts; newsletter; SBDC Incentive Coordination –EZ, brownfield, workforce; façade/merchant Facilitation –QTI, QRT, Road grants; SBA, NMTC, EB-5; Permits Advocacy –Workshop; outreach; corporate; peer forum; industry/association initiatives

We need growth in three key job types , ,186 Labor Force 12, ,674 Population Construction % Manufacturing 1, % Utilities % Wholesale 1, % Retail 2, % Logistics % **** Information % **** Financial % Professional, Scientific1, % Management % % **** Health Services % **** Real Estate 296 2,4% Leisure & Hospitality 1, % Arts, Entertainment % Public Administration % Education Svcs % 10,141 Of the 12,165 people who are employed in Dania Beach, 788 live and work in the City. There are 11,377 workers who live outside the City and work within Dania Beach. Of the 11,490 workers who live within the Dania Beach City limits, there are 10,702 residents who work outside the City (93.5 percent). There is a net job outflow of 675 workers.

Dania Beach must seek targeted employers  Cleantech  Life Sciences  Infotech  Aviation/Aerospace  Homeland Security/Defense  Financial/Professional Services  Corporate Headquarters  Emerging Technologies Generate leads via Alliance, State of Florida channels Visit targeted industries in Miami, Orlando, Tampa and West Palm Beach Contact national prospects Link to FAU, FIU, Nova Southeastern University UF, USF, UCF, FSU, Host C-level events in Dania Beach in targeted sectors State and County incentives go to targeted industry sectors

There is a global competition for jobs Is Dania Beach ‘Business Friendly’? We must overcome a severe lack of infrastructure to create shovel ready properties (roads, water, fiber optic) Are we engaged in the battle for resources (federal, state, county)? Immediate access is needed to capital, finance, grants and incentives Can we grow a healthy business environment? Dania Beach today enjoys a privileged and enviable location that is attractive to virtually any potential investor/employer. However, businesses today have a global choice of locations and are seeking communities with shared values

Economic Transformation Traditional Sectors Tourism Antiques/vintage Commercial decoration Marine Future Clusters Medical services High technology Logistics & supply chain Marine technology Transportation mobility Professional services Research & Engineering

Dania Beach will undergo a transformation 13 Tourism & Recreation Antiques/ Vintage Commercial Design Trade & Logistics Marine Technology Renewable Energy Construction Green Building Eco-Tourism Healthcare New L ifestyle Communities Advanced Manufacturing Tourism Business Travel Rural Care Environmental Sciences Dania Today Dania Beach Tomorrow

We can attract high growth, high wage industries (from SRI CFDC Cluster Study 2009) high wage industries (from SRI CFDC Cluster Study 2009)

A modern diversified economy requires building blocks

What is Dania Beach’s niche in our Megaregion?

What financial incentives do we need? The CRA: – Can offer major employers in targeted industries serious state and county incentive dollars. –The CRA is devoting its budget and seeking grant and county funding for an incubator and other economic engines Dania Beach: –Needs to increase funding of strategic infrastructure improvements in business areas –Should develop a set of financial and non- financial incentives for major new employers

A checklist of what Dania Beach can do? 1. An Economic Development Point Person 2. Elected officials serve as Ambassadors: Positive and knowledgeable of all the City’s assets 3. Develop policies and infrastructure that are conducive to economic development – zoning, code, fees, fast track permitting 4. Shovel Ready Sites 5. Is the land for sale? Single owner or multiple owners? 6. Information on the website 7. Incentives, tax breaks and waiving of fees 8. Staff that can answer specific questions regarding infrastructure: roads, water, sewer 9. Can the City move quickly in voting on incentive packages?

What are the Important Challenges ? Infrastructure really should get underway to places that facilitate commercial/industrial development It’s a small community and the CRA should document and post fractional property ownership to help assemblages and uses that make financial sense Dania Beach should adopt ‘best practices’ in permitting proposals that speed and simplify the process while protecting the community Dania Beach elected officials should join peers in county, regional positions of leadership to secure equitable treatment Deeper consideration should be given to the strategic relationship between development of available Dania Beach properties and the City’s financial future.

Marketing Initiative Create proprietary list of marine decision makers in target industries Rank and research companies Link to Alliance, Enterprise Florida referrals Create compelling information about Dania Beach Deliver directly, follow up Drive to web site

Economic Development Goals  Create Jobs – New & Existing Business  Attract capital investment  Improve housing, neighborhood quality of life  Develop a pipeline of prospects  Incubate new small business  Increase private light industrial, office parks  Enhance Dania Beach workforce  Orchestrate funding for projects  Increase public awareness