7a Economic Development presentation
Item No. 7a_supp Meeting Date: June 12, 2018 Economic Development Partnership Grant Program Advancing local economic development throughout King County 1 Cooperative Program King County cities receive funding to advance local economic development throughout the region. Annual grant funding provided on a $1 per capita formula: Grants capped at $65,000 Smallest cities receive a minimum of $5,000 Advancing Local Economic Development Partnerships Throughout the Region 2 Eligible Activities Business recruitment initiatives designed to attract new companies to a region or city; Small business development (including incubator/accelerator projects); Tourism development; Industry retention and expansion assistance (ex. Maritime) Downtown revitalization; Commercial or industrial property development; and Other community or economic development projects that support new investment and job creation. Projects Need to Tie to Port Business Interests 3 City of Enumclaw 2018 Grant Will Support: Business recruitment increase in stability of retail businesses and reduced number of vacant storefronts. Implement Downtown revitalization program Sunset Shines Marketing Campaign support public art installations and tactical place making activities. Downtown Revitalization & Seasonal Tourism Promotion 4 An Important and Effective Partnership Initial Results are Favorable Cities are willing to report on longer term results Cities do not have the resources to implement these initiatives. In many cases local governments are now able to take on longer term development projects (ex. Des Moines) This partnership is an effective way to advance the Port's Century Agenda and business interests Leveraging Port Resources to Promote Regional Development 5 Tim Dutter Manager, Economic Development A) Tourism and Branding B) Chamber University Workshops C) Startup 425 Workshops and Mobile World Congress D) Economic Development Website Enhancement E) WA Innovation Partnership Zone: Sports Medicine PORT GRANT 2018 AGENDA BILL 7522: CREATING THE VISIT ISSAQUAH ORGANIZATION Agenda Bill 7522 was initiated by council in December of 2017 to create a new Destination Marketing Organization Agenda Bill 7522 passed by Council on May 7th, 2018 Staff directed to file the Articles of Incorporation ED to lead Branding Campaign in alignment with the Chamber of Commerce, City of Issaquah and Downtown Issaquah Association. Port of Seattle: $11,500 City of Issaquah: $50,000 Alternative: LTAC to conduct wayfinding placement study. CHAMBER UNIVERSITY WORKSHOPS SERIES: CREATE BUZZ 2018 PORT: $7,000 CHAMBER: $3,500 STARTUP 425 MOBILE WORLD CONGRESS technology companies that are interested in exploring The Global Passport program will focus on mobile sales in Europe. Selected startups will take part in a series of export training workshops and then join a delegation at 4YFN, the startup hall at Mobile World Congress. Mobile World Congress gives you access to over 100,000 technology professionals over the week and 2,000 companies that will define the future of mobile. Port of Seattle: $3,000 City of Issaquah: $1,500 ECONOMIC DEVELOPMENT WEBSITE: Building a data center Updating ECONOMIC profile Updating business financing, licensing, permitting content Port of Seattle: $3,000 City of Issaquah: $1,500 SPORTS MEDICINE: INNOVATION PARTNERSHIP ZONE Awarded contract to host a regional or national Sports Medicine Conference City award for fiscal year 2019 (July 1, 2018 June 30, 2019) is $48,500. FY19 COMMERCE Funds $48,500 Local Matching Resources Required 12,125 TOTAL BUDGET $60,625 Nancy Ousley Assistant City Manager BUSINESS ENGAGEMENT IN KENMORE Business Registration FindKenmore.org Business Directory Kenmore Business Alliance and Business Events Bothell Kenmore Chamber of Commerce Kenmore Business Incubator Port of Seattle/City Funded Business Acceleration Training 2018: City of Kenmore Economic Development Strategy Update Association of Washington Cities Municipal Excellence Award PORT OF SEATTLE GRANT PROJECTS 2017 Grant Amount: $22,320 Business Acceleration Training Brew Row Promotion: Street Banners and Trail Signage Commercial Development Capacity Update & Marketing BUSINESS ACCELERATION TRAINING 17 businesses in 2- six week series (Fall 2017 & Winter 2018) 38 businesses total in 2 years BREW ROW PROMOTION Wayfinding Project S 188th & S 200th Street Corridors - City of SeaTac - June 12, 2018 Port of Seattle Commission Meeting 17 FOCUS AREAS South 188th Street South 200th Street 18 THE PROBLEM Airport bound travelers and visitors driving through residential neighborhoods in search of the airport What happens NOW Exiting I-5 from both directions at S 188th Street Turn onto Military Rd and other streets Drive around "lost" 19 SOME POSSIBLE CONFUSION FROM THE I-5 N SIGN 20 OBJECTIVE NOT changing current designated airport access routes 21 SOLUTION "Simple" Wayfinding Project Practical Signage Help travelers find their way to: Airport Hotels/Motels Food Other Visitor Services 22 PROPOSED SIGN DESIGNS - 1 23 Results Improved Traveler / Visitor / User - Experience Improved Local Residents' Experience Better Overall "Sense of Place" 24 A Niche Marketing Campaign YEAR 1 Formulated Specific Site Location Criteria based upon City's Economic Development Strategy and Targeted Industries to attract companies engaged in International trade or relations that do not need to be adjacent to maritime or airport facilities. Formulated and produced marketing materials including video production. Identified and contacted by direct mail campaign 400 companies and non-profits in the Northwest that are engaged and growing in International Trade or in International Relations. Identified and contacted by direct mail campaign over 50 R.E. Brokerage firms in Washington, specifically those with listings in Federal Way. Identification of Existing Businesses in Federal Way engaged in International Trade and Relations and Initiated Business Retention Calls on organizations such as World Vision, Tommy Bahama, Finish-based Valmet (manufacturer) and Pacific Seafood YEAR 2 Identify and contact by direct mail campaign 400 companies and non-profits in the Western U.S. specifically California that are engaged and growing in International Trade or in International Relations. Mayor/Staff and Consultant face-to-face visit with selected businesses and non-profits. Formulate and present meeting with Consulates Association of Washington to discuss opportunities. Update Website to Enhance Marketing Information on Federal Way. OUTCOMES Recruitment/Jobs and Enhancement of Tax Base o Korean Broadcasting System, Office and Operations for Washington o Cogent (Global Data Systems Provider) o London Aviation Services (Aircraft Insurance) Foreign Direct Investment o Hynes Development Formulation of Network with Consulates Association of Washington Consistent Message on International Activity with Port (Century Agenda) Prepared for Tomorrow (Inclusiveness) Evergreen District APPENDIX 32 Program Guidelines The awards are available to 38 cities in King County, based on $1 per capita formula. Awards are capped at $65,000 with a minimum of $5,000 for small cities. A 50 percent local match and a resolution of support/priority from the local jurisdiction is required. Funds cannot be used in capital projects. Cities may contract with local non-profits to deliver projects or manage initiatives. Cities may collaborate or aggregate regionally to enhance impact or outcomes. Partnership with King County Cities 33 Partnership Program Grant Amounts Algona $ 5,000 Federal Way $ 65,000 North Bend $ 6,570 Auburn (part) $ 65,000 Hunts Point $ 5,000 Pacific (part) $ 6,835 Beaux Arts Village $ 5,000 Issaquah $ 34,590 Redmond $ 60,560 Bellevue $ 65,000 Kenmore $ 22,320 Renton $ 65,000 Black Diamond $ 5,000 Kent $ 65,000 Sammamish $ 61,250 Bothell (part) $ 26,590 Kirkland $ 65,000 SeaTac $ 27,810 Burien $ 50,000 Lake Forest Park $ 12,940 Shoreline $ 54,990 Carnation $ 5,000 Maple Valley $ 24,790 Skykomish $ 5,000 Clyde Hill $ 5,000 Medina $ 5,000 Snoqualmie $ 13,110 34 Covington $ 18,750 Mercer Island $ 23,660 Tukwila $ 19,540 Des Moines $ 30,570 Milton (part) $ 5,000 Woodinville $ 11,570 Duvall $ 7,425 Newcastle $ 11,090 Yarrow Point $ 5,000 Enumclaw (part) $ 11,410 Normandy Park $ 6,540 Timelines June - Program Kickoff August 1st All questions from Cities submitted to POS July 15 Aug 15th Applications Submitted to POS August - Application review POS September 2017 Agreements negotiated and approved with Cities September 2017 to October 2018 Project implementation November 2018 Project evaluation* *Extended to November 2018 per input from cities to harmonize w/ annual budget cycles 35
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