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2 16 10 Economic Development FY 2011 Budget PresentationEconomic Development FY 2011 Budget Presentation City Council 5 Year Goals Partnering for a Better Dubuque Retention of Existing Businesses a Top Priority Business Retention and Expansion Program Among Top 5 by The International Economic Development Council (IEDC) Award of Excellence from BlaneCanada Ltd Service to Existing Businesses #1 Ranking by Mid-American Economic Development Council Business Retention and Expansion International Vanguard $1.4 million investment  11 Retained jobs  10 Created jobs  Morrison Brothers $3.8 million investment  88 Retained jobs  10 Created jobs  Hotel Julien Historic Renovation  $30 million investment  133 guest rooms/suites  Executive ballroom  Pool and spa  Spiegel Spec Building 200,000 square feet  Can be divided for multiple businesses  $7.7 million investment  Medline 232 Retained Jobs  75 Created Jobs  $6,500,000  investment Opened summer  2009 Hormel Started production in January 2010  180 new jobs  $89 million investment  IBM Announcement Historic Roshek Building Relocation of many existing tenants  $39 million renovation  National Register of Historical Places  IBM to create 1,300 jobs  Over half have been hired  IBM / Roshek Building Assisting Dubuque Initiatives  Utilization of Tax Credit programs (NMTC)  Coordinate renovation plans  Seeking first floor tenants  Ongoing Building Oversight  Roshek Continued Roshek Project received the 2009 Excellence in Economic Development in Historic Preservation Awarded by the U.S.  Department of Commerce Roshek Continued Successful State Assistance Applications Brownfield Tax Credit  40 Main LLC $100,000  B&C Cathedral Development $100,000  CARADCO Building $100,000  Sustainable Neighborhood Builders $100,000  Grants  Dubuque Initiatives $450,000  IBM $11,700,000  Enterprise Zone Applications 40 Main  Sustainable Neighborhood Builders  Dubuque Stamping & Mfg.  Development Agreements 4 Development Agreements  Interstate Building, LLLP  Dubuque Stamping & Mfg.  40 Main, LLC  IBM  2009 Results 216 Retained Jobs  1324 New Jobs  Over $48 million Capital Investment  Dubuque Industrial Center West Expansion of DICW (North Siegert  Farm) 100 Acres  $5.7 million project  Infrastructure and street construction in  2009 RISE Funding $285,000  Final grading and seeding Spring 2010  North Siegert Farm Exp. Dubuque Works Partnership members:  Greater Dubuque Development Corporation  Community Foundation of Greater Dubuque  and Project H.O.P.E. Northeast Iowa Community College  Iowa Workforce Development  Dubuque Area Labor Management  Telegraph Herald  Dubuque Area Chamber of Commerce  Dubuque Works Newcomer Relations Services  •Full-time concierge services offered to all newcomers •Since March 1, 2009 served more than 400 individuals from over 40 local employers •Distinctively Dubuque Dubuque Works Nurture student-to-business relationships at  all 5 colleges to combat brain drain •CEO Network, Dubuque Live, YP College Chapter, Internships on AccessDubuqueJobs.com Dubuque Works Engaging local middle and high-schools to  promote skilled careers th •Career and Technical Fair, Industry Tours, 8 Grade Career Exploration Career Readiness Certificate  Project H.O.P.E. Assist underemployed in breaking barriers to  employment Recent Efforts  Resource Information and Referral  Getting Ahead in a Just-Getting’-By  World/Bridges out of Poverty NLC Reengaging Disconnected Youth  Earned Income Tax Credit  Downtown Rehabilitation Loans Over $4.5 million loaned since the program began $184,000 in repayments expected during  FY2010 No new loan requests were submitted to  the City Council Time to fund loan has discouraged all  interested developers. Downtown Rehabilitation Loan Program Waiting List Proposed Schedule Interstate BuildingFY2011  Butt’s FloristFY2012  900 Main StreetFY2013  1000 Jackson StreetFY2014  Hotel JulienFY2017  1005 Main StreetFY2019  Design/Façade Grants The following is a list of projects waiting to receive their design/façade grant: Proposed Schedule Interstate BuildingFY2011  Butt’s FloristFY2012  900 Main StreetFY2013  1000 Jackson StreetFY2014  Hotel Julien FY2015  1005 Main StreetFY2016  Downtown Housing Incentive $2,500,000 available  Received 15 applications for $4,000,000  Awarded funds to 4 projects  Other applications still under review  Other Loan Activities 40 Main, LLC -UDAG loan  Hartig Realty -DRLP  WS Live –CDBG  Genuine Genius Tech. –UDAG  amendment Future Initiatives Historic Millwork District  FutureInitiatives Historic Millwork District  th First Phase centered around 10and Washington  3 main buildings will be revitalized  •200 housing units •80,000 sf of retail/commercial New streets, utilities, amenities  Focus on sustainable infrastructure  Possible Geothermal District Heating/Cooling  FutureInitiatives Continue regional economic development and  marketing initiatives (Partnerships) Seippel Road Industrial Park (South Siegert)  Implement new Transit Model  Coordinate RFP process for selecting transit  management Redevelopment of South Port  FutureInitiatives Downtown Loans/Grants  Downtown housing  Downtown Parking to Accommodate Job Growth  Including Intermodal Facility  Passenger Rail  Current Unemployment Rates Iowa Job Growth: 1984-2009 Dubuque County created 8.3% of Iowa’s job growth with 3% of Iowa’s population. Job Growth: 1984-2009 * Does not include Dubuque National Recognition Dubuque’s job growth of 2.1% from July  to October 2009 was the third best in the nation. (MSN/Careerbuilder.com) In October, Moody’s/Economy.com  ranked Dubuque in the U.S. Top 40 for job growth between 2008-2013. Property Sales Greater Dubuque Development survey: 43% of area businesses plan to expand  53% are gaining market share  Positive perception of Dubuque economy  Approval of local leadership and public/private  cooperation Major projects progressing 