HomeMy WebLinkAbout2013-08-27; City Council; 21351; Economic Developmetn Activity UpdateCITY OF CARLSBAD - AGENDA BILL 27
RECEIVE AN EC0N0[\/IIC
DEVELOPIVIENT ACTIVITY UPDATE
FROM THE CITY'S ECONOMIC
DEVELOMPENT MANAGER
DEPT.DIRECTOR
CITY ATTY.
CITY MGR.
RECOMMENDED ACTION:
Receive and file an economic development activity update from the city's Economic
Development Manager regarding the FY2013-14 goals and initiatives.
ITEM EXPLANATION:
The Economic Development Manager is charged with nurturing the city's strong and diverse
economy, growing its position as an employment hub in San Diego County, and promoting
business variety, increased specialty retail and dining opportunities, and Carlsbad's tourism.
In FY2013-14, city council established strategic goals related to economic development:
• implement a business retention and expansion program
• develop a strategy focused on attracting the talent and innovators needed to compete in
a global economy
• work with other municipalities and economic development partners to optimize Carlsbad
and North County economic development efforts
This report will provide an update of these goals and discuss next steps related to achieving
our economic development goals.
FISCAL IMPACT:
No funding is being requested at this time.
ENVIRONMENTAL IMPACT:
Pursuant to Public Resources Code section 21065, this action does not constitute a "project"
within the meaning of CEQA in that it has no potential to cause either a direct physical
change in the environment, or a reasonably foreseeable indirect physical change in the
environment, and therefore does not require environmental review.
DEPARTMENT CONTACT: Kathy Dodson, 760-602-2744, kathv.dodson@,carlsbadca.gov
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED • CONTINUED TO DATE SPECIFIC •
DENIED • CONTINUED TO DATE UNKNOWN •
WITHDRAWN • RETURNED TO STAFF
•
AMENDED • COUNCIL RECEIVED THE
REPORT/PRESENTATION
OTHER'SEE MINUTES •
Economic Development
2013-2014 Program
Christina Vincent, Economic Development Manager
3rd Quarter Council Update
August 27, 2013
2
Economic Development Goals
We continue to execute our economic
development goals:
•Expand & attract businesses
•Attract talent
•Leverage partnerships
3
Presentation
•Business Climate
•Project Updates
•Business Expansion & Attraction Goal
–Economic gardening
•Talent Attraction Goal
–Marketing & messaging
–Social media campaign
–Business outreach campaign
Tax Revenue from Businesses
Business Tax Revenue = approx. 60% of Total Tax Revenue to Carlsbad
$49 M
$55 M $57 M
$63 M $64 M
$74 M
$83 M
$90 M $94 M
$88 M $88 M $91 M $94 M
$99,619,293
$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Property Tax Sales Tax Transient Tax Business License
Commercial Real Estate Vacancy
16.6%
22.6%
24.9%
27.7%
29.7%
25.0%
21.4% 22.5%
12.3%
13.4%
12.4% 12.2% 12.0%
13.7%
12.4% 12.3%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
2006 2007 2008 2009 2010 2011 2012 YTD 2013
Office Industrial
Monthly Rents
6
$2.62
$2.68
$2.56
$2.39
$2.26
$2.21 $2.16 $2.17
$1.13
$1.23
$1.11
$1.02 $0.98 $0.99 $0.93 $0.93
$-
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
2006 2007 2008 2009 2010 2011 2012 2013YTD
Office
Industrial
7
Project Updates
Incubator – Grand Opening July 12, 2013
8
Project Updates
Creative Carlsbad – Peer to Peer Event
9
Project Updates
•North County Branding – five city branding effort
–Goal – Leverage Partnerships
–Mayors and staffs working on a integrated economic
development approach
–Northstar’s initial visit this week
•Tour each City
•One-on-one visits with specific businesses
•Focus groups for representatives of the area
•Surveyed 300-400 stakeholders early August
•San Diego Regional EDC
–Goal: Strengthening partnerships
–Highlight the branding guide for talent attraction
–Use Carlsbad as a model for other cities
•Showcase on their website
•Social media
•Impact event
•Apps challenge
10
Project Updates
Talent
Attraction
11
Talent Attraction Brand
12
13
Talent Attraction Brand
14
Talent Attraction Brand
15
Talent Attraction Brand
17
Talent Attraction Brand
Next Steps
•Complete the tag line and finalize the brochure
•Start the brand implementation process
•Develop the website www.carlsbadlifeinaction.com
•Outreach to businesses to prioritize and implement
the brand
–Business Outreach campaign
–Work with companies for real examples
18
Business Outreach Campaign
19
•Request for proposals received August 9
•5 proposals received
•Selection committee and process underway
•Kick off approximately mid-September
Goal: Share Carlsbad’s story on a broader level
Major Development Projects Update
•Palomar Commons
•Palomar Place
•Pizza Port
•La Costa Town Square
•Green Dragon Colonial Village
•Westfield Carlsbad
•Carlsbad Floral Trade Center
20
Upcoming Events
•Business Academy
–September 10, September 24, October 8, October 22
•Leadership Tour with Interknowlogy
•Higher Education roundtable - September
•Creative Carlsbad Peer-to-Peer CEO Event – at
ViaSat on November 7
•Broker’s breakfast – November 18
21
Questions?
22