21-point business plan for progress. background economic crisis retail business unemployment housing...

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• Aggressively pursue and quickly

implement federal stimulus dollars

1) Enterprise Zone MarketingImplementation• Direct outreach to

local businesses• Market and

Outreach campaign• Increase number of

businesses utilizing Enterprise Zone

Fiscal Impact• $50,000 (General

Fund)

2) Recycling Market Development Zones (RMDZ) Business Outreach Implementation

• Implement program• Outreach campaign

Fiscal Impact• No New Net Costs

3) Think Santa Clarita ValleyImplementation• 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)

4) Film Incentive ProgramImplementation• 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)

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

6) Westfield Expansion Partner Agreement

Implementation• Maximize retail

attraction efforts• Subsidize and expedite

Tenant Improvement permits

Fiscal Impact• $100,000 (Loss/Deferred

Revenue)

7) Development ProcessImplementation• 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

8) Incentives for Job-Producing Businesses

Implementation• Short-term permit fee

subsidization• Businesses would

qualify by meeting criteria

Fiscal Impact• $50,000 (General Fund)

9) Event SponsorshipImplementation• 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)

10) Re-Allocate Staff to Economic DevelopmentImplementation• Reallocate staff from divisions with

reduced workloads to the Economic Development Division

Fiscal Impact• $250,000 (Redistribution of Staff)

11) WorkSource CenterImplementation• 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

12) Business District ImprovementsImplementation• Directional signage to Westfield Valencia

Town Center and the Valencia Auto Center• Implement streetscape improvements along

Creekside

Fiscal Impact• $2,000,000 (LMD)

13) Stimulus Dollars – Infrastructure ProjectsImplementation• 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)

14) Stimulus Dollars – Non-Infrastructure Projects

Implementation• Acquire funding

and develop action plan for implementation

Fiscal Impact• $3,230,770

(Secured Federal Funds)

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

Implementation

•Increase Local Preference from 5% to 10%

•Work with other agencies to implement similar programs

Fiscal Impact

•No Net Costs

16) City Purchasing Local Incentive

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

18) Old Town Newhall FacadeImplementation• 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)

19) Use Tax Incentive for Business ExpansionImplementation• Incentivize

business expansion and investment

• Increase Use Tax revenue to City

Fiscal Impact• TBD (Loss of New

Revenue)

20) Neighborhood Stabilization ProgramImplementation• 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)

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