Economic Development Update

1. City of College Station
Economic Development Update

2. College Station Economic
Development Program Update
Departmental Focus: Lead efforts to promote diversified economy generating
quality stable, full-time jobs, bolstering sales & property taxes.
 City Council Priority – 2014
 New Program – 2015
 Business Attraction & Product Investments
 Expertise
 Retail
 Program Development & Business Recruitment

3. I. Resources,Partners,
Program Focus

4. College Station Economic
Development Program Update
 City Efforts: Business attraction and support for product enhancements
 Operating:
 City staff is funded via General Fund with budget of $400,000
 Includes salary and operating expenses for 2 FTE’s, along with funds for general
marketing/promotion
 Supported by two contracts ($70,000) for attraction of retail and
commercial/industrial opportunities
 ED Fund for Incentives per Economic Development Agreements
 Spring Creek LGC- Economic Development efforts in South College Station. CS
Business Center and Midtown Business Park - initial operating budget of $96,000

5. College Station’s Economic
Development Regional Partners
 Brazos Valley Economic Development Corporation
 Reorganizing and refocusing its outreach efforts for the overall market
 Corporation receives $350,000 annually from City, matched by Bryan, Brazos County,
and Texas A&M
 Additional funds provided by private businesses via Invest Brazos Valley (IBV)- $175,000
 Focus remains on direct prospect development in several targeted industry sectors
 Texas A&M
 Research efforts connect with major corporations via University research departments,
State agencies, and the A&M Systems office
 RELLIS

6. O t h e r G o v e r n m e n t a l R e s o u r c e s
 Experience Bryan College Station
 Bryan College Station Chamber of Commerce
 Related City Departments
 Parks and Recreation
 Capital Projects
 Public Communications
 CDBG Funds

7. E c o n o m i c D e v e l o p m e n t M a r k e t i n g
I s 4 - F o l d
I. Product –the facilities, sites and
infrastructure available to prospects.
II. Price –the prospect’s total costs (real
estate, labor, operating expenses) and the
ability of the locality to offset these costs
with incentives.
III. Pinpoint – enhanced targeting to
streamline efforts and match community
strengths with company needs.
IV. Promotion – effective communication of
competitive advantages to targeted
audiences.
A COMPETITIVE
COLLEGE
STATION
Product
Price
Pinpoint
Promotion

8. I n v e s t m e n t A t t r a c t i o n i s L o n g -
t e r m S t r a t e g y f o r S m a l l b u t
G r o w i n g M a r k e t A r e a s
 Attraction efforts are complex and comprehensive, and require multi-year
commitment
 Important first steps have been taken with initial market outreach
 Need to stay in marketplace consistently over time.

9. D e s t i n a t i o n M a r k e t i n g
 Resources spent on Destination Marketing in the area are significant.
 Nonetheless, if we don’t tie together these efforts with overall
regional promotion, we may lose an important opportunity to improve
market awareness.
 Internal efforts on destination marketing

10. II. Economic
Development Roles &
Responsibilities

11. Lead Support Examples
Planning & Policy
• Overall framework and
policy for Economic
Development
• Identify projects & funding
sources
City Council
• ED Committee
• LGC
• City Staff
• Adopt & Update
strategic plan
• Create tools to
implement programs
• Establish a LGC to
oversee Midtown &
CS Business Center
Outreach/Marketing
• Responses to leads
• Prospect Management
• Messaging
• Land Development
• Implement projects
City Staff
• Regional and
State partners
• Related City
Departments
• LGC
• Other marketing
partners
• Attending annual
trade shows
• Joint efforts with
consultant
• Development of
Midtown
Retention and Growth
• Retaining businesses
while encouraging
solutions and growth
City Staff
• Regional
partners
• Related City
Departments
• Local business
leaders
• Regular retention
visits to key tax
generators
• Work with local
Chamber
membership

12. III. Recent Priorities &
Accomplishments

13. M i d t o w n U p d a t e : Te l l i n g t h e S t o r y

14. I m a g i n i n g t h e M i d t o w n B u s i n e s s P a r k

15. Park Development Activities
• Environmental Work
• Preliminary Jurisdictional Determination - completed and submitted to FEMA
• Threatened & Endangered Species
• Phase One Environmental
• Preliminary Plan
• Greenway dedication
• Infrastructure phasing
• Ownership/ maintenance
• Lakeway Dr. and Pebble Creek Pkwy
• Completed Spring 2019
• RFQ for Design - released

16. College Station Business Center

17. Marketing and Outreach
G O A L S
I. Show Them Something
Midtown Park: a tangible
offering
II. Make Connections
• Site Selectors
• Direct contact with
influencers
• Connect with companies
looking for site
opportunities
A C C O M P L I S H M E N T
S
 Creation of National Site Selectors
Database
 Attendance at regional economic
development summits
 Women site selector connections
 Dallas-based planning firm for Midtown
Park generated Dallas connections
 Three target company prospects
identified; proposals underway

18. Prospects & Clients-Ongoing Contacts
• Site Selectors & Brokers
Deal opportunities generally pass through these types of organizations
Increasing College Station’s prospect pipeline, necessitates relationships with
these firms.
This year staff has been in front of at least ten to twelve of these regional and
national firms.
• Direct Prospect Contact
While building relationships, there has been one-on-one contact with firms that
are in the early stages of site location decision-making

19. IV. Recommendations

20. Economic Development –
Stay Focused
 Maintain current structure
 City Council – Policy Direction
 ED Committee – Projects & Products
 LGC – Implementation
 Maintain focus on business attraction
 Corporate
 Retail
 Upcoming Work Efforts
 ED Master Plan Evaluation & Update
 Small Business Resource Team – Partnership with Development Services
 Destination Marketing Improvements