LOGAN COUNTY ECONOMIC DEVELOPMENT CORPORATION ANNUAL MEETINGJANUARY 22, 2009 2009 Annual Meeting
Retail Sales • Through December 31, 2008, the City of Sterling reported that taxable sales increased slightly to $195,161,123 YTD compared to 2007, which was a record year. Sales tax collected increased .11% to $5,854,833. • The Colorado Department of Revenue has not issued year end results for Logan County; however, the first three quarters maintained a level comparable to 2007. • With the approved wind energy developments of NextEra Energy Resources and Colorado Highlands Wind, and the planned Blue Sky underground gas storage project, it is expected that over 450 temporary construction workers will be active in Logan County during 2009. This activity has contributed greatly to increased sales in past years.
Employment Although the unemployment rate is up slightly, there were an additional 687people working in the Sterling/Logan County area compared to a year ago. October 2008 is the latest data available and some seasonal adjustment is normal, but construction projects already underway should help the employment level in 2009.
New and Expanded Business • Over 10 new and expanded businesses opened in 2008 • Total capital investment exceeded $6,200,000 and 79 new jobs were created • Beall’s, Burger King, Dickinson’s Country Store, Frenchman Creek, Jimmy’s Pizza and Italian Restaurant, McDonald’s, Mike Meat Market and Serenity Women’s Clothing were some of those opening in 2008
NECALG Annual Report • NECALG reported over $16,300,000 in new, qualified capital investments in Logan County. • In 2008, total revenues in support of programs in the six county area were $5,351,671 and that total is budgeted to increase to $7,143,698 in 2009 • Programs include home weatherization, community service block grants, services to seniors, County Express and others.
2009 Economic Developments • Two wind energy developers have made commitments for over 100 new turbines • Blue Sky underground gas storage • NJC’s 14% enrollment increases and community support via the Hope Scholarships • Sterling Regional MedCenter and the David Walsh Cancer Treatment Center
Strategic Plan The Mission of the Logan County Economic Development Corporation is to provide leadership and assistance to all Logan County communities in their efforts to grow, while improving their economic stability and diversity.
Strategic Plan Approved: 05 August, 2008 • Economic Development Toolbox • Industrial / Commercial Property • Industrial and Retail Targeting • Using LCEDC Cash Resources • Community Collaboration
Report on Significant ProspectsJan. through Dec. 2008 • State Prospect #08-040 “Project Alloy” is a European client seeking to open a foundry/metal processing business in Colorado. Requires 50 acres zoned heavy industrial and estimating 500 employees. • State Prospect #08-050 “Project Green” is a company looking to manufacture fiberglass and composite components for diversified OEM manufacturers of wind turbines. They are seeking an existing 50-100,000 square foot building, preferably in a rural industrial park and anticipate creating 200 jobs. • State Prospect #08-055 Green Building Manufacturer is a company looking for 2-4 acres for a 30,000 square foot building to manufacturer a patented building system for residential and light commercial green buildings. They would start with 50 employees and grow to 150 over three years. • State Prospect #08-065 Project Beam is a light manufacturer looking for a 6,000 sq. ft. building with all utilities, internet and close to interstate transportation.
Report on Significant ProspectsJan. through Dec. 2008 • BNSF approached the City and County about expanding their rail year north of East Chestnut Street in Sterling. Initial discussions were held with property owners in the affected area and alternative access routes to the industrial areas northeast of the City were proposed. There are been no action by BNSF on this proposal since 12/2007. • Trillium Corporation approached the City about developing their property west of South Third Avenue running to South Fifth Avenue. There has been no action by Trillium since June, 2008. • A light fabricator of farm fencing materials approached LCEDC about re-locating to Sterling this past summer. New jobs were estimated at 5-10 to start and several sites were visited by the client. This project is on hold because of economic uncertainty. • A fabricator/supplier of oil field equipment approached LCEDC about re-locating to Logan County. Initial operations would include assembling, testing and distributing oil field equipment and would create 10-15 new jobs.
Major Projects during 2008 • Contacts with 10 retail matches via Buxton • Attended ICSC in Las Vegas, May 18-20 • Helped sponsor CSU Labor Study/NE Colo. • Education/Workforce Consortium/BETR • New website design and updates • Asset Resource- Commercial Property Listing • Retail Development/TRIP policies approved • Assisted NextEra Energy/ Sidney Airport issue
RETAIL DEVELOPMENT POLICY POLICY DECLARATION. It is hereby declared to be the policy of the City of Sterling, Colorado (City) to encourage the location, relocation or expansion of commercial enterprises within the corporate limits of the City, and to that end to encourage the expansion of our existing retail sales outlets or restaurants and to secure the location of new, large-scale retail and certain, targeted commercial businesses within the City. The intent is to solidify our current position in the NE Colorado Region as the Retail Center of business and trade. To that end the City desires to facilitate the attraction of large-scale retail or targeted commercial development, including malls (to include outdoor venues of clustered retail); entertainment venues or complexes; destination restaurants, including nationally recognized chain outlets, not yet existing within the municipal area and meeting the criteria set forth below; destination hotel/conference centers; automobile dealerships or auto malls; truck stops; regional health centers; central office or headquarters of large-scale or regional professional or technical firms, including architects, engineers, attorneys, accountants, and/or physicians; and other mixed-use centers consisting of multiple retail and commercial businesses operating on a single site.
RETAIL DEVELOPMENT POLICY • The intent of this policy is to attract businesses, grow and expand our own businesses and strengthen our center of business and trade that demonstrate one or more of the following: • The retail or professional services will generate or draw regional customers or customers who reside beyond 30 miles from the municipal boundaries of the City; • The sales volume is projected to meet or exceed $750,000 per year after three years of operation; • The business is a food service or restaurant with a seating capacity of not less than 75 persons; • The business is a full service hotel of not less than 100 rooms; • The business will provide employment for at least 35 full time employees (FTE); • The business is a car dealership with estimated minimum annual volume of sales of 300 units; and • The business represents a substantial expansion of an existing business operation within City, at least doubling existing square footage or increasing retail space by 15,000 square feet, whichever is less.
Major Projects • Assisted 3 new retailers: Bealls, Jimmys Pizza and Serenity Dress Shop • Broadway Plaza re-development • Developed a major re-location effort for Foster Farms • Logan County Commissioners agreed to enter negotiations for new 100 acre industrial park. • Facilitated Centennial Mental Health is discussions with County, USDA and DOLA
Major Projects • Sponsored “Revitalizing Downtown Sterling” seminar • Met with City officials to promote airport development during 2009 • Revised By-laws to include SURA as voting member and addressed attendance requirements • Co-sponsored with Colo OEDIT a “Financing Forum” in Sterling
Airport Expansion? Sterling Municipal Airport (Crosson Field)
Major Projects • NextEra Energy and Colorado Highlands Wind approved for wind energy projects totaling over 400 mW. • Supported NJC’s plan to establish a wind technician training program • Co-sponsored with NextEra, Xcel, MediaLogic Radio and South Platte Sentinel the Holiday Ramble and Window Display Contest • Supported the Logan County Master Plan
Design/Build Planning • The Design/Build Committee has accepted the proposal of The Architect Group, Bruce Glass of Garden City, Kansas, to prepare preliminary construction drawings for three different sized commercial/industrial buildings
Design/Build Planning • The committee has determined the size and general specifications as follows:
WINDPOWER 2009 Conference & Exhibition May 4 - 7, 2009 Chicago WINDPOWER 2009 Conference and Exhibition is the largest annual wind conference and exhibition in the world featuring over 13,000 attendees and over 776 exhibitors.
Logan County Economic Development CorporationP.O. Box 72City Hall421 N. 4th StreetSterling, Colorado 80751 • Committees: • Asset Resource • Workforce Development • Marketing and Communications • Membership Development • Strategic Planning • Commercial / Industrial Development • Retail Development
Thank You QUESTIONS ? 2009 LCEDC Annual Meeting