HomeMy WebLinkAbout2015-02-24; City Council; 21873; Economic Development Activity UpdateCITY OF CARLSBAD-AGENDA BILL
AB#
MTG.
DEPT.
21873
2/24/2015
CEO
RECOMMENDED ACTION:
RECEIVE AN ECONOMIC DEVELOPMENT DEPT. DIRECTOR
ACTIVITY UPDATE FROM THE CITY'S ECONOMIC CITY ATIY.
DEVELOPMENT MANAGER CITY MGR.
Receive an economic development activity update from the city's Economic Development Manager.
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.
City Council Priority Projects related to economic development include:
• Implementing a business retention and expansion program;
• Developing a strategy focused on attracting the talent and innovators to help our businesses
compete in a global economy; and
• Working 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.
FISCAL IMPACT:
No funding is being requested at this time.
ENVIRONMENTAL IMPACT:
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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: Christina Vincent 760-602-2712 christina.vincent@carlsbadca.gov
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED
DENIED
WITHDRAWN
AMENDED
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CONTINUED TO DATE SPECIFIC
CONTINUED TO DATE UNKNOWN
RETURNED TO STAFF
COUNCIL RECEIVED THE
REPORT /PRESENTATION
OTHER-SEE MINUTES
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Economic Development
Program Update
Christina Vincent, Economic Development Manager
City Council Update
February 24, 2015
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Economic Development Goals
•Retain & expand businesses
•Talent attraction campaign
•Leverage partnerships & regional resources
Economic Indicators
Business tax revenue approx. 60% of total revenue
(property taxes, sales tax, business license, TOT)
•Unemployment rate continues to decrease
•Commercial vacancy rates continue to decline
•Transient Occupancy Tax revenue historic levels
•Property values in Carlsbad have increased
•Actual sales tax transactions increased
3
4
$0
$20
$40
$60
$80
$100
$120
2006 2007 2008 2009 2010 2011 2012 2013 2014MillionsBusiness Tax Revenue
Business License
Transient Tax
Sales Tax
Property Tax
$90 M
$94 M
$88 M $88 M
$91 M $94 M $99 M
$103 M
$84 M
5
Unemployment Rate
Compare to the previous year
8.0
7.0
6.0
Ql bO -2011
I'll .. -2012 ~ 5.0 u .. -2013 Ql
Cl.
4.0 -2014
3.0
2.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
6
Carlsbad
3.4%
9
8
7
6
5
4
3
2
1
2014 Unemployment Rate
A National Comparison
-National -state -county -carlsbad
~---------~~---------------~ -----
0 +---~----~----~--~----~--~----~----~--~----~----~--~
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
7
Industrial
11.0%
Office
14.7%
Carlsbad Vacancy Rates
-Office
-Industrial
2006 2007 2008 2009 2010 2011 2012 2013 2014
8
Avg. Rate
68%
95%
90%
85%
80%
75%
70%
65%
60%
55%
SO%
45%
40%
Hotel Occupancy Rate
Jan Feb Mar April May June July Aug Sept Oct Nov Dec
Major Development Maps
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Bi Annual Business Survey
•476 businesses participated
•85% Businesses indicated Carlsbad was an
excellent or good place to do business.
•Businesses were 8x’s as likely to be optimistic
about business climate.
•73% businesses were confident in Carlsbad to
make decisions to positively affect business
climate.
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Bi Annual Business Survey
•95% Businesses satisfied with Quality of Life.
•77% Businesses satisfied with access to clients
and customers.
•Dissatisfaction:
–Regulatory environment (20%)
–Local roads/transportation (14%)
–Ability to find talent (11%)
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Bi Annual Business Survey
•74% Carlsbad’s larger firms (50+ employees)
have grown and expect to continue to grow.
•Cluster Expectations for Growth
–Action Sports, Life Sciences, Hospitality & Tourism
expect above average growth
–CleanTech, Info. Communications Tech. expect the
same or below average growth
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By the numbers
•6,280 businesses
•79,445 employees
•Avg. yrs. located in
Carlsbad = 10.8
•Avg. number of
employees = 16.89
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58.40%21.30%
12.50%
7.80%
Size of Business
1 to 4
employees
5 to 9
employees
10 to 24
employees
25 or more
employees
Number of Companies
KEY INDUSTRY CLUSTER 2012 2013 2014
Information & Communications
Technology 254 249 294
Life Sciences 131 180 155
Action Sports Manufacturing 47 45 39
Clean Technology 90 85 54
Hospitality & Tourism 150 154
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Total Employees
KEY INDUSTRY CLUSTER 2012 2013 2014
Information & Communications
Technology 9,203 9,558 9,999
Life Sciences 7,033 7,450 6,546
Action Sports Manufacturing 2,773 2,575 2,890
Clean Technology 4,882 5,269 4,693
Hospitality & Tourism 11,941 12,380 14,776
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Average Wage
KEY INDUSTRY CLUSTERS 2012 2013 2014
Information & Communications
Technology $114,561 $109,282 $121,320
Life Sciences $128,722 $130,867 $126,566
Action Sports Manufacturing $91,020 $92,641 $95,931
Clean Technology $112,672 $107,030 $120,289
Hospitality & Tourism $25,567 $25,230 $25,469
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Talent Attraction
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...... --· i'lot'll" ......
'***'*'* ...
Life In Action™
FY 2014-2015 (to date)Total
Print Ads 4
Brochure distribution 1,300
Website users 3,583
Website pageviews 15,673
Website news posts 21
Facebook likes 793
Facebook posts 67
Twitter followers 272
Twitter posts 449
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Leverage Partnerships
•78 Corridor
–Contract with San Diego Regional EDC
–New position dedicated to efforts
–Website and materials under construction
•Chamber
–Meet monthly to discuss business related topics
–Collaborate on events and partnerships
–Monthly article in Carlsbad Business Journal
•Support regional industry groups
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Questions?
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