Community and Economic Development Briefing

What is Community Development?

• Community development is the process of making the community a better place to live and work and occurs primarily in the public sector

• Economic development is the process of creating wealth, in which community benefits are created secondarily

• To have a vibrant local economy, a community needs both community development and economic development.

Community Development

• Destination Development –Live –Work –Play

• Node- Specific Revitalization • Affordable Housing Programs

Live

– Direct: • Affordable housing programs • First time home buyer programs • Home rehabilitation programs

– Indirect • Sidewalks • Parks • Trails

Work

– Attract businesses – Partner with airport/ 30-year plan – Partner with local businesses to supply a job-

ready workforce – Workforce development

Play

– Unique dining destinations – Expanding opportunities for shopping – Creating more recreational facilities for

entertainment – Events/Festivals

Node-Specific Revitalization

• Located in the business districts – Pre-development

• Quality of life planning • Community engagement • Business engagement • Partner engagement

– All public facility and infrastructure activities that are also eligible under the Private Category

• Ex. Loans to businesses • Façade Renovation

• Historic restoration, rehabilitation and preservation for physical structures and infrastructure where appropriate

Affordable Housing Programs • Housing programs could include home buyer programs, owner occupied

rehabilitation programs, non-profit operating assistance and rental housing

• Local housing partners include: – INHP – Fair Housing Center of Central Indiana – Greater Indy Habitat for Humanity – Indianapolis Housing Agency – Renew Indianapolis

• Indy Gateway’s role will be to partner with existing non-profit organizations and leverage private financing to provide for affordable, decent, safe and appropriate housing, and increase homeownership/owner-occupied housing, as a part of balanced economic development in Indianapolis

• Bring the services of these existing non-profits to the west side • If needed, develop programs to meet specific housing needs

Economic Development

What is Economic Development?

• Process that leads to creation and growth of businesses, jobs, and communities

• Measurable criteria: quantity, quality, sustainability and geographic location

• Focus on businesses and jobs in primary industry • Local perspective is not always the same as the

statewide perspective

Defining Projects in which to Invest • Primary Project Investment

– New primary jobs generate new secondary jobs – Make strategic public investments

• Primary Jobs – Where goods or services are manufactured by workers on the west side and

can be sold throughout the country, bringing in dollars from around the word

– Create new wealth – Includes research and development funded by federal and international

sources • Secondary Jobs

– Where goods and services manufactured by workers on the west side are sold locally or regionally

– Smaller businesses that support the daily influx of primary workers (i.e. retail, restaurants professional services etc.)

Business Retention and Expansion

• Retention and expansion is a strategy to work with existing businesses

• Interview business leaders on business climate • Demonstrate appreciation of business to local

economy • Identify opportunities for growth and expansion • Help existing businesses solve problems

Business Recruitment • Actively recruit new businesses for increased

investment and employment opportunities • Activities:

– Working with IACED to develop enhanced understanding of west side and benefits as well as how to market them to businesses

– Focused efforts on targeted industries – National/International recruitment

• Working with prospects – Help define prospective location criteria, timetable and expectations

of clients – Provide Request for Information (RFI) to selected communities that

meet criteria

Industry Cluster Near Airport

Industry Cluster Initiative • Goal is to move the represented industry sector up the value curve for increased

value of goods and services • Main focus will be placed on manufacturing and transportation/logistics due to

the benefits provided by the airport • Objectives

– Utilize intermodal area with air, train and road transportation – Private sector driven – Address common needs of firms in a cluster from workforce development to

technical assistance to market access – Better organize and focus economic development services to advance

competitive industries – Enable more broad-based initiatives to engage local school districts, colleges

and universities to address industry needs and opportunities

International Trade and Development

• Import/Export assistance

• Business recruitment • Promote international

partnerships • New-to-export

consulting • Trade missions

Why Indy Gateway?

• Better positioned for economic development opportunities

• Identified and documented as ready for economic development

• Marketed to business and industry

The case for Indy Gateway

• Wayne Township has the largest low-income area outside of Center Township and currently has less desirable housing stock than competing neighborhoods throughout Marion County

• Marion County’s suburban neighborhoods on the west side are experiencing the flight of national retailers and poverty driven challenges in their school districts

• Wayne Township schools have seen an increase in students qualifying for federal assistance for school lunches, jumping from 53.5% to 77.5%

• The west side of Indianapolis is greatly in need of this community saving assistance

Indy Gateway's Goals

• Strive to create community and economic growth • Make the West Side a better place to live, work, play

and grow a business

Accomplished by focusing efforts on:

• Aggressive community development • Business retention and expansion • New business attraction • New business creation • Promoting our great city –Particularly the west side • Special emphasis on the creation of new primary

jobs and wealth creation

Marketing Indy Gateway

• In-State, Nationally and Internationally – Promoting Opportunities-

• Quality of life/Place and cost of living • Business retention, expansion and recruitment • Entrepreneurship • Great Schools • People retention and recruitment • Jobs

• Strong social media presence through Facebook, Twitter and Instagram

Evaluating Indy Gateway Impact Successful economic development initiatives should: • Grow stronger communities by supporting solid public infrastructure

and high quality, affordable housing options that stimulate long-term community sustainability and future economic growth

• Stimulate creation and retention of high quality primary employment opportunities that improve per capita incomes and lead to a better quality of life for residents on the west side

• Generate additional wealth creation potential for Indianapolis residents

• Attract human and financial capital from out of state • Grow a readily-available, top quality, skilled workforce to meet the

ever-changing needs of business and industry, thereby retaining Indianapolis's best and brightest youth and attracting additional workforce and population for our communities

Questions?