On February 10, 2010 the Center for Public Administration and Public Policy at Kent State University held a forum on intergovernmental collaboration in Northeast Ohio.
Daniel Smith, Economid Development Director of Kent discussed the economic benefits and challenges to establishing a Joint Economic Development District (JEDD)
2. Economic Development
It’s all about jobs!!
• Other considerations:
Being Development Ready
Retail Attraction
Industrial Attraction
Planning
Incentive Programs
Promotional & Marketing Materials
3. ED Impact: City of Kent
90% of the revenues that fund our city services,
e.g., police, fire, snow plowing, pothole repair,
finance, etc., comes from income taxes.
Our total annual budget is in the $37- 38 million
dollar range- currently a little higher due to the
Crain Avenue Bridge projects and bike trails.
Income taxes from employees of local Kent
businesses account for roughly 29%, or well over
10 million, in annual revenues.
4. Jobs
1 minimum wage job
in the City limits
contributes as much
to our general fund
as someone paying
property taxes on a
$146,000 home.
5. Joint Economic
Development Districts
Increasing the tax base, investment &
commercial activity
Old City Growth Model- Annexation
Townships cannot pass an income tax,
JEDDs allow for win-win
Can increase infrastructure (water, sewer, &
utilities) to a district.
Allows for increased joint marketing and
promotion of new sites- investment!
6. Steps to Creating a JEDD
Communication & Collaboration with
Neighboring Community- Unanimous
Elected Officials Support Important
Negotiate Contracts- Agreement,
Boundaries (Large tracts are easier),
By-Laws
Sign-up: Voluntary & Conscription
Filing and Amendments
9. JEDDs- Joint Economic
Development Districts
JEDD revenues have been experiencing
continued growth, over $983,8760 in new
revenues from the Franklin Township JEDD
since February 2007, as businesses and
employment continues to increase along the
SR 59 corridor, predominantly from the Wal-
Mart Plaza (Hibbet Sporting Goods, Good
Will Store, Radio Shack additions). The
Brimfield JEDD generated $146,791 since
December or 1995.
10. Distribution Examples
Franklin Kent JEDD (since February ’07)
• City: $541, 132 Township: $442,744
Brimfield Kent JEDD (since December ’05)
• City: $80,735 Township: $66,056
• .5% Maintenance Set-Aside