Chesterfield Economic Development

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1 Chesterfield Economic Development News You Can Use March 2009

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Program overview and recent news from Chesterfield Economic Development

Transcript of Chesterfield Economic Development

Page 1: Chesterfield Economic Development

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Chesterfield Economic Development

News You Can Use

March 2009

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Chesterfield Economic Development

The Object of the Program

To enhance the economic vitality of Chesterfield County by attracting and retaining business capital investment and new jobs.

County Strategic Goal

To Be the First Choice Business Community

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Cost of Services More Than Taxes PaidChesterfield County

The average Chesterfield household pays only 50.4% of the cost of providing county

services to that home.Cost of Services$4,794per Household

Shortfall$2,377per Household

Taxes Paid$2,417per Household

Shortfall covered by: Local taxes paid by businesses, transfers from VA & US, fees for services. (Source: Budget & Management FY2005 General Fund)

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Gateways

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Watkins CentreCloverleaf

Powhite Parkway

Chesterfield Airport

Meadowville

Route 360

Walthall

Route 1 & 150Route 895

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Target Marketing SectorsOffice — Corporate headquarters and finance, securities and insurance firms

Life sciences — R&D and pharmaceutical manufacturing

Information technology — Data and digital communications

Advanced materials — Materials and chemical manufacturing

Advanced manufacturing — Highly automated technology driven manufacturing

Wholesale, distribution and logistics — Food and non-food products

Aviation — Manufacturing and service companies

Retail — Market to unique developments

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Areas for Office Target

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Koger Center

Watkins CentreCenterPointe

The Boulders

Gateway Center

The Arboretum

Centre Court

Waterford Moorefield

Meadowville

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Areas for Life Sciences Target

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Watkins Centre

Meadowville

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Areas for Information Technology Target

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Koger Center

Watkins CentreCenterPointe

The Boulders

Gateway Center

The Arboretum

Centre Court

Waterford Moorefield

Meadowville

River’s Bend

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Areas for Advanced Materials Target

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James River

Meadowville

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Areas for Advanced Manufacturing Target

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Watkins Centre

Meadowville

James River

Airport Ind. Park

Walthall Area

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Areas for Distribution & Logistics Target

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Meadowville

James River

Walthall Area

Watkins Centre

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Areas for Aviation Target

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Airport Ind. Park

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Areas for Retail Target

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Watkins Centre

Airport Area

Chesterfield Towne Center

Cloverleaf Area

Route 1 Corridor

Meadowville Area

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Recent Deals2008

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SportsQuestWaterford Business Center $25 million Phase 1 ~ $40 million Phase 2 ~ $35 million Phase 3

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Sabra Dipping CompanyRuffin Mill Industrial Park$59.3 million ~ 110,000 square feet ~ 260 employees

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Electronic Precision TechnologyRiver's Bend Center $5 million ~ 46,300 square feet ~ 50 employees

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PoseidonChippenham Crossing$8 million ~ 34 acre site

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Blue Print AutomationAppomattox Industrial Center $1.5+ million ~ 30,000 square feet

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Ace RecyclingSustainability Park$6 million ~ 69,000 square feet ~ 30 employees

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Mazda Motor CorporationEnterchange @ Walthall $1.6 million ~ 133,000 square feet ~ 20 employees

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GlaxoSmithKlineEnterchange @ Walthall$2.27 million ~ 262,000 square feet ~ 45 employees

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Developments2008

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Watkins Centre

Village Bank building

33,000 of 72,000 square feet available

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Watkins Centre

Westchester I building

17,003 of 56,810 square feet available

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Stonebridge

New Urbanism

300,000 SF Retail & Office

500 Residential Units

Crosland

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Stonebridge

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Meadowville Technology Park

I-295 Interchange

Founders’ Building

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James River Industrial Center

I-3 zoning

Rail access

Abundant power

Abundant water and sewer

I-95 access

Next to UPS

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Numbers

Jobs in Chesterfield

121,942 jobs as of June 2008

Increase of 10,637 since 2003

Businesses in Chesterfield

7,423 businesses as of June 2008

Increase of 1,021 since 2003

Value of New Commercial Construction

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Economic Development Results in 2008

New Announced Investment: $138.3 million

Announced New Facilities: 11 projects

Announced Expansions: 6 projects

Announced New Jobs: 668

Existing Industry Calls: 111

Active Prospects: 127

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Snapshot Comparison 2007 to 2008

Investment up $82.95 million or 150%

Announced new jobs up 30%

Existing industry calls up 78%

Active prospects up 32%

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Existing Industry Success Story

Business First Chesterfield

Premier Pet Products teamed with Scratch & Newton from UK

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Marketing Initiatives2007-2008

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Branding Campaign Billboards Radio

Print Web

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ChesterfieldBusiness.com

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Future Marketing Efforts

Search engine targeted marketing

Trade shows in targeted markets

Marketing missions to targeted areas

Utilize existing industry ambassadors

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Business Starts Here