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21-Point Business Plan for Progress

21-Point Business Plan for Progress. Background. Economic Crisis Retail Business Unemployment Housing foreclosures. Goals. Enhance partnerships Create high quality jobs Increase retail spending Attract external dollars Capitalize on the momentum of our successes

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21-Point Business Plan for Progress

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  1. 21-Point Business Plan for Progress

  2. Background Economic Crisis • Retail • Business • Unemployment • Housing foreclosures

  3. Goals • Enhance partnerships • Create high quality jobs • Increase retail spending • Attract external dollars • Capitalize on the momentum of our successes • Aggressively pursue and quickly implement federal stimulus dollars

  4. 1) Enterprise Zone Marketing Implementation • Direct outreach to local businesses • Market and Outreach campaign • Increase number of businesses utilizing Enterprise Zone Fiscal Impact • $50,000 (General Fund)

  5. 2) Recycling Market Development Zones (RMDZ) Business Outreach Implementation • Implement program • Outreach campaign Fiscal Impact • No New Net Costs

  6. 3) Think Santa Clarita Valley Implementation • Create major campaign through partnerships • Promote to consumers and B2Bs in community • Promote to greater LA-area to attract external dollars and business • Fiscal Impact • $250,000 (General Fund)

  7. 4) Film Incentive Program Implementation • Incentivize film permits for productions based in local studios • Rebate half of TOT generated from film stays • Explore cost reductions for safety personnel Fiscal Impact • $150,000 (General Fund) • $50,000 (Loss of TOT revenue)

  8. 5) SBDC Program for Business Implementation • Provide micro grants/loans to small businesses contingent on using SBDC services Fiscal Impact • $100,000 of allocated $300,000 CDBG funds

  9. 6) Westfield Expansion Partner Agreement Implementation • Maximize retail attraction efforts • Subsidize and expedite Tenant Improvement permits Fiscal Impact • $100,000 (Loss/Deferred Revenue)

  10. 7) Development Process Implementation • Streamline permitting process • Allow electronic plan/permit submittal • Development One-Stop Fiscal Impact • $300,000 – One-Stop (General Fund/Budgeted) • $200,000 – Computer Replacement Fund

  11. 8) Incentives for Job-Producing Businesses Implementation • Short-term permit fee subsidization • Businesses would qualify by meeting criteria Fiscal Impact • $50,000 (General Fund)

  12. 9) Event Sponsorship Implementation • Create opportunities for business to market themselves through City events at little to no cost this year, with costs in future years Fiscal Impact • TBD (Loss of Revenue)

  13. 10) Re-Allocate Staff to Economic Development Implementation • Reallocate staff from divisions with reduced workloads to the Economic Development Division Fiscal Impact • $250,000 (Redistribution of Staff)

  14. 11) WorkSource Center Implementation • Maximize benefit to business community • Create alignment with College of the Canyons • Advocate for a North Los Angeles Workforce Investment Board Fiscal Impact • No New Net Costs

  15. 12) Business District Improvements Implementation • Directional signage to Westfield Valencia Town Center and the Valencia Auto Center • Implement streetscape improvements along Creekside Fiscal Impact • $2,000,000 (LMD)

  16. 13) Stimulus Dollars – Infrastructure Projects Implementation • Pursue, obtain and spend federal dollars • Maximize benefits of projects through job creation and long term infrastructure Fiscal Impact • $10,300,514 (Secured Federal Funds)

  17. 14) Stimulus Dollars – Non-Infrastructure Projects Implementation • Acquire funding and develop action plan for implementation Fiscal Impact • $3,230,770 (Secured Federal Funds)

  18. Implementation Form partnership with the Chamber of Commerce, VIA, COC and additional agencies to explore the formation Identify responsibilities of the EDC Fiscal Impact TBD 15) Economic Development Corporation

  19. 16) City Purchasing Local Incentive • Implementation • Increase Local Preference from 5% to 10% • Work with other agencies to implement similar programs • Fiscal Impact • No Net Costs

  20. 17) Hotel Business Improvement District (BID) Implementation • Work with hotel owners to implement increase in visitor tax assessment of 2% (from 10% to 12%) • Utilize funds to attract visitors and high economic impact events Fiscal Impact • $400,000 (New Revenue) • Formation expenses TBD

  21. 18) Old Town Newhall Facade Implementation • Create and utilize matching grants and/or loans for qualifying businesses to re-facade • Encourage businesses to improve storefronts Fiscal Impacts • $150,000 (CDBG-RDA)

  22. 19) Use Tax Incentive for Business Expansion Implementation • Incentivize business expansion and investment • Increase Use Tax revenue to City Fiscal Impact • TBD (Loss of New Revenue)

  23. 20) Neighborhood Stabilization Program Implementation • Stabilize neighborhoods affected by the housing and foreclosure crisis • Assist in redevelopment efforts for residential and commercial properties Fiscal Impact • $1,187, 003 (NSP Funds)

  24. 21) One Valley, One Vision – Economic Development Element Implementation • Collaborate with business and community partners • Develop plan for long-term sustainability for the quality of life and economic stability of Santa Clarita Fiscal Impact • No New Net Costs

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