Fort Walton Beach Council agenda — 06-14-11 regular — reading text

a period of years. c 0 w Through this Economic Development Element, the City of Fort Walton Beach is strengthening its 2004 Vision Plan Focus on the Future, implementing the 2007 Fort Walton Beach Community ro Redevelopment Agency Plan, and 2006 Waterfront Plan Charting the Course; we are broadcasting our y stable local economy as opposed to the unstable national market, and committing to the greatest extent possible that governmental policies, procedures and land -use decisions encourage industry innovation, m creativity, and entrepreneurship for long -term economic prosperity. no O LIB Economic History n In 2007, the City Council directed city staff to improve and strengthen economic development initiatives. In 2008, the Vision Plan Stewardship Committee determined through corporate sampling that to economic development is the most important issue facing our community. Also in 2008, the Local w Planning Agency adopted an Evaluation and Appraisal Report which identified the need for economic suslainability in an environment of intense development pressure. U In the 10 -year planning horizon, market forces indicate that the Fort Walton Beach area will continue to be the leading center for technology in northwest Florida. Our community stands to weather the v E economic recession better than most due to an entrepreneurial business climate and global technology- related jobs in conjunction with the Department of Defense. Eglin Air Force Base is the world' s largest Department of Defense installation, spanning 724 square miles, and defense contractor companies are a established throughout the Northwest Florida region. The Eglin Air Force Base Complex ( which includes Hurlburt and Duke Air Force Bases) represents an annual $ 7. 0 billion impact in the area and an economic multiplier at ten times the national average. Our professional and technical service industries leverage the extensive government contracting that exists with local military bases. Additionally, Fort Walton Beach has redevelopment plans which provide incentives and minimize the risk for capital investment within its Community Redevelopment Area and Commerce and Technology Park. Also unlike other coastal communities, the City of Fort Walton Beach' s coastlines are not monopolized by imposing condominiums and a " soft economy" defined as being disproportionately service-oriented. Our tourists don' t define our city - our residents do. We operate a Element I - 3 Packet Pg. 93  F12 .1. a FORT WALTON BEACH COMPREHENSIVE PLAN 365 -days -a -year economy that' s strong in technology as well as commerce. We like to say we' re big city strong and small -town friendly. 1. 2 Introduction In Fort Walton Beach, character is our commodity. The small -town atmosphere includes eleven traditional neighborhoods, seven of which are located along the shoreline, and each with their own distinct personality and charm. The city boasts nationally lop- ranked public and charter schools with a low teacher- to- student ratio. Schools are a part of our neighborhoods, linked by fitness trails, sidewalks and public parks. Our locally -owned and operated businesses enjoy affordability and amenities which embody the city' s commitment to providing a positive business climate in which companies grow. The purpose of the Economic Development Element is to establish a course for strategic economic development until 2020 and beyond. Specifically, this Element provides the foundation for a 5 - year strategic economic development plan to be implemented by the city' s designated economic development agencies, with annual review by the City Council. This Element emphasizes the strengths of the city' s diversified, global economy; establishes a cluster development strategy to identify, maintain and enhance existing business clusters; and also identifies the market potential for new business clusters to promote entrepreneurship and private investment. To our local businesses, this Element is a statement of our City' s steadfast commitment to their growth and vitality. To investors and industries caught in a softening national economy, it' s also a broadcast that while other cities are struggling to stay afloat, ours is a stable, diversified economy backed by the United States military, global technology industries, a superior education system, carefully planned growth, and unsurpassed natural beauty. This Element will establish goals, objectives and policies for growth to encourage a " hard economy" grounded in professional services, military and medical technology, and not overly service -oriented. Realizing that according to the Florida Association of Museums, one dollar invested in cultural assets returns seven dollars, and one dollar invested in historic preservation returns ten dollars, through this Element the City will also ensure the availability of prime available lands, infrastructure, and amenities for cultural and educational venues. Fort Walton Beach will utilize the City' s 2007 CRA Plan Update, the 2010 -2020 Comprehensive Plan, and Okaloosa County' s 2006 Strategies to Diversify Our Economy, to strengthen and expand our local economy. This Element outlines projects from public meetings intended to be the comerstone of an Economic Development Strategic Plan. Such will ensure that our community will remain a favored investment opportunity in a competitive global marketplace through 2020 and beyond. The planning philosophy outlined in this Element' s introduction provides the framework of community values and attitudes regarding economic development. This section establishes the parameters around which future land use and economic development recommendations will be designed. Each development decision should ultimately benefit the shared vision for Fort Walton Beach. Presented below are the goals, objectives and policies for our community, organized under eight headings. They are: Industry Growth and Retention, Economic Development Representative/ Agency, Public /Private Partnerships, Sustainability, Creative Arts and Cultural Tourism, Waterfront Development, Military, and Growth Management and Infrastructure. 1. 3 GOAL, OBJECTIVES, AND POLICIES GOAL: Promote and maintain orderly and diversified economic growth, increased employment, and investment opportunities, while protecting quality of life through environmental suslainability to ensure competitiveness in today' s economy. Element I - 4 Packet P9. 94  12. 1. a FORT WALTON BEACH COMPREHENSIVE PLAN OBJECTIVE 1. 3. 1 - Industry Growth and Retention The City will identify, maintain, and promote a cluster industry development approach throughout the city to strengthen existing businesses and interrelationships, and also to create a framework for targeting economic development activities. Policy 1: The City strives for a business -friendly atmosphere which enhances economic diversity by eliciting feedback from businesses and organizations representing the commercial, industrial, culinary and waterfront industries. Email correspondence, personal contact and surveys are among the methods to be utilized. Policy 2: Recognizing that entrepreneurship activity is vital to economic growth, the city will develop a pilot entrepreneur quick -start program by November 2011. The program will act as a one -stop resource to streamline licensing and permitting, and also provide market analysis for site location. Ea W Policy 3: By 2011, the City will investigate opportunities to ensure its Commerce and d o Technology Park is a premier location for industry, including the creation of a Business Improvement District by affected business and property owners. 2E 0 Policy 4: A beautification plan for the commerce and technology park will be developed by u to November 2010. In addition, the Beautification Committee will explore grants and private sponsorship opportunities to screen unattractive uses such as barbed wire, inoperable a vehicles, and trash receptacles on highly visible corridors. W a Policy 5: By 2013, the City will conduct a land use study of Industrial Park designated lands m e along Hollywood Boulevard to determine the best course for economic development of that a corridor. p OBJECTIVE 1. 3. 2 - Entrepreneurship Education Programs fostered by local organizations and institutions to teach entrepreneurship skills to interested students and residents will be an integral part of the City' s economic diversity strategy. to0 w Policy 1: The City encourages diversified economic growth within Historic Downtown by m