Fort Walton Beach Council agenda — 09-04-12 workshop landmark — reading text

Unmanned Air & Ground Vehicle Facility Private Sector Support Industries I1,, 15 Ct: ' Hilt Economic Impact Short- Term Construction: $ 25. 5 million 286jobs 36. 3 million new sales Long -Term 50 Retail Direct Jobs 27 Hotel Direct Jobs 8 Parking Garage & Apartment Direct Jobs 2. 99 Million generated by hotel per year 149, 457Tourism Bed Tax Revenue per year Property values increase 3% per year 2  9/ 4/ 2012 Economic Impact Continued Ripple Effect 30 Additional Jobs 27.7 Million in Additional Wages & Income 9. 7 Million in Additional Surrounding Sales First 15 Years of Ad Valorem Tax 1. 6 Million for Okaloosa County 2. 1 Million for City Fort Walton Beach 3. 7 Million forOCSD and NWFWD Conclusion Downtown Revitalization is Needed Class A Office Space is Needed Retail and Restaurant Enhancement Parking istwill be Needed New Jobs will be Created Existing Jobs will be Retained Will Provide Additional Retail Opportunities Will Provide Diversification Will Increase Competitive Advantage Will Increase Tax Base Will Improve Quality of Place dhank 2Cou. Kay Rasmussen Vice President Community & Economic Development Economic Development Council for Okaloosa County, FL k. a,r r;ZE * l oria a -ea c. cra, 850- 362 -6467 vN v flcnca -eac cr 3  THE LANDMARK CENTER 122, 000 SQ. FT. MIXED USE BUILDING WITH PARKING GARAGE LOCATED IN THE HEART OF THE HISTORIC DOWNTOWN DISTRICT OF FORT WAL70N BEACH, FL Planned Development Specifics Approx. 90 room extended stay hotel with pool 15 Corporate Apartments Approx. 31, 000 Sq. Ft. of Restaurant & Retail Stores Roof Top Restaurant Approx. 343 Space Parking Garage Open to the General Public Landmark Center, Fort Walton Beach, Florida 9/ 4/ 2012  I x; 4, , t w Landmark Center— Street Scene example lip i F r 4' R CT L- mac .... Aw OV" k . Landmark Center— Street scene example  i K• A= Landmark Center— Street scene example i I tt . ete: all i Landmark Center —Street scene example Landmark Center, Fort Walton Beach, Florida i N 4 I I II l; i I_ 1 € i 0 A Landmark Center, Fort Walton Beach, Florida mil° 4 Landmark Center, Fort Walton Beach, Florida Landmark Center, Fort Walton Beach, Florida 9/ 4/ 2012  1 t To: Mayor Mike Anderson and City of Fort Walton Beach Council Members t From: Kay Rasmussen a Vice President Community & Economic Development Date: September 5, 2012 RE: September 4 Council Items Feedback Economic Development Dear Mayor Anderson and City of Fort Walton Beach Council Members: Council i' At the close of last night' s Council meeting, I had a couple of action items to follow -up on with you. Below please find my responses. s. Post Office Box 4097 Councilman Reeves requested information on specific training the EDC has provided to Fort Walton Fort Walton Beach, FL Beach companies. 32549 Last year the EDC completed a two -part training program in partnership with Florida' s Great 850- 362 -6467 Northwest, the University of West Florida and the Workforce Development Board to provide kayr@florida- edc. or incumbent employee training www. florida- ede. ora o Free training total value: $ 146, 900 o Training included Program Management, Capability Maturity Model Integration (CMMI), Negotiations, and Technical Supervisory Skills o 14 companies requested participation o 7 Fort Walton Beach companies participated Alpha Data Boeing Fort Walton Machining GSC Systems, Inc. InDyne, Inc. J & P Khamken Industries Technical Services Laboratory This year, following another needs assessment, the EDC completed a Six Sigma training curriculum in partnership with University of West Florida and Workforce Florida o Free training total value: $ 64, 365 0 5 companies requested participation 0 2 Fort Walton Beach companies participated GSC Systems, Inc. J & P Khamken Industries, Inc. Councilman Reeves also commented on the city' s low millage rate, high quality of life and questioned what additional incentives could be used for a toolbox for pre -qualified businesses On April 26, 2012 the EDC hosted a Targeted Incentives Briefing for elected officials. o Mayor Mike Anderson participated in the briefing o The two incentives presented where the Ad Valorem Tax Abatement and the expedited permitting process o Please consider that any action that incurs an expense to a business to locate or expand t. their operations in the city can be utilized as an incentive; time is also viewed as money Councilman Reeves referenced empty buildings in the Commerce and Technology Park BAE Systems has two buildings, one on Anchors Street and one on Hill Avenue, that are vacant but are not on the market The former Spectrum warehouse space on Hill Avenue is being used by Lockheed Martin; there is some office space that is available and is marketed The former Chromalloy buildings on Anchors Street are vacant and are marketed; there is contamination concern which is not being remediated by the owner The former Sears building is marketed The former e. com building on Mill is partially vacant and is marketed Please note that the EDC is not a decision -maker in any project activity I j` Economic Oeve top ment council f0k. te 4 rov , Y, Flo ids 11T 1 t ( 1 Continued Project •. Company 2010 Jobs Created in FWB Ferguson Industrial Hearin / AC 25 Project Air Smartronics 12 Project Smart DRS 150 Project DRS 42 Project Precision FW Machining 3 Project Grey Grey Aviation 5 Project Government I GovernmentSupportJob s 2011 Jobs Created in FWB 150 Project DRS 11 1 DRS 2012 Jobs Created in FWB to Date I Non Disclosure Agreement 60 Project FWB Non Disclosure Agree ent 200 Project Springfield The State of Florida provides protection to economic development activity /businesses via Florida Statute 288.075 Confidentiality of records. When discussing job creation, job retention should also be considered. 1 personally did not start tracking job retention until the end of 2010. Due to our efforts in working project activity in 2010, approximately 120 jobs were retained and in 2011, approximately 180 were retained that would have otherwise been lost. By governor mandate, economic development organizations oversee the Bridge Loan process following a catastrophic event. The processing of bridge loans following the Deepwater Horizon tragedy is another example ofjob retention accomplished by the EDC. 1, 087, 500 interest free loans provided to impacted businesses in south Okaloosa County 430, 000 value to 18 Fort Walton Beach companies Retaining 210 jobs Deepwater Horizon Bridge Loans Fort Walton Beach Business Name Jobs Approved Staffs