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Economic Achievement
through Mutually Beneficial
      Collaborations
                     Join Economic
                  Development Districts
                         JEDDs
Economic Development

It’s     all about jobs!!
• Other considerations:
 Being Development Ready

 Retail Attraction

 Industrial Attraction

 Planning

 Incentive Programs

 Promotional & Marketing Materials
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.
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.
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!
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
JEDD Area Maps- District
        Defined
Creating/Operating a
        JEDD
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.
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
Marketing the JEDDs
     Districts
Questions & Answers

• Dan Smith, Economic Development
  Director, City of Kent

• Ken Penix, Township Administrator
  Franklin Township

• Thank You

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2/10/10 - Kent State Intergovernmental Collaboration Forum - Joint Economic Development District (JEDD)

  • 1. Economic Achievement through Mutually Beneficial Collaborations Join Economic Development Districts JEDDs
  • 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
  • 7. JEDD Area Maps- District Defined
  • 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
  • 11. Marketing the JEDDs Districts
  • 12. Questions & Answers • Dan Smith, Economic Development Director, City of Kent • Ken Penix, Township Administrator Franklin Township • Thank You