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Irving Economic Development Partnership

Greater Irving-Las Colinas Chamber of Commerce | August 20-21, 2015
by

Jimmy Hukill

on 26 April 2016

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Transcript of Irving Economic Development Partnership

Irving Economic Development Partnership
2014-2015 Project Summary
WINS

18
9
9
2,767
670
2,097
1,682,106
43.3
KPI Results
Partnership Highlights
Six Fortune 500 companies: Pioneer Natural Resources, ExxonMobil, Fluor, Kimberly-Clark, Commercial Metals, and Celanese
Economic Impact/ Return on Investment
$1,448 in economic activity
$18 in local sales taxes
$6.14 in local property taxes
Delivering Irving’s Future
The mission of the Irving Economic Development Partnership is to attract new capital investment, retain and expand existing businesses, create high-quality jobs and improve Irving’s quality of life.
Las Colinas Largest Office Park in the Metroplex
Irving ISD National AP School District of the Year
Irving-Las Colinas 2nd largest office submarket in Metroplex
6 Blue Ribbon Small Businesses (largest number in nation)


All Projects
Relo Projects
Ret Projects
Total Jobs
Relo Jobs
Ret Jobs
Occupancy
Capital
PROJECTS

73
43
30
30,916
13,388
17,528
13,000,306
1,311.7
Presented by Greater Irving-Las Colinas
Chamber of Commerce
August 20-21, 2015

Delivering Irving’s Future
$378 in worker earnings
Mission
LOST

5
4
1
770
750
20
621,500
43.0
INCENTIVES

11
5
6
20,329
8,050
12,279
6,807,000
884.4
REMAINING

39
25
14
7,050
3,918
3,132
3,889,700
341.0
Every public dollar invested in the
Irving Economic Development Partnership returns
$.36 for local taxing authorities
“Impact Data Source believes that a one-stop center for economic development services is critical to a community’s economic growth and many of these investments may not have occurred without the efforts of the Greater Irving-Las Colinas Chamber of Commerce.”

The Economic Impact of the Greater Irving-Las Colinas Chamber of Commerce during FY 2014. October 29, 2014 – Impact DataSource, Austin, TX

“We are located in the Las Colinas Urban Center due to the excellent accessibility to DFW Airport, the ideal location to our workforce and quality office product and amenities - it makes good business sense for us.”

Mark Blinn, President and CEO, Flowserve Corporation


“North Texas is a region with a strong labor pool. Las Colinas, which is the region's largest office park, is home to our headquarters due to its' central location for the convenience of our employees.”

Thomas Falk, Chairman and CEO,
Kimberly-Clark Corporation
Irving Economic Development Partnership Priorities 2015-2016
1. Recruit and Retain businesses that will grow the City’s tax base and create higher paying jobs for residents
2. Support development and redevelopment of key properties within the City
2015-2016 Revenue Snapshot
FY 2014

$1,555,000
$0
$1,565,037

REVENUE

City contract
Theme Towers
TOTAL

FY 2015

$1,555,000
$190,000
$1,745,000

FY 2013

$1,555,000
$210,625
$1,765,625

FY 2012

$1,675,000
$605,232
$2,540,559

2015-2016 Budget Snapshot
FY 2014

$1,565,037

$717,775
$299,508
$659,439
$1,676,722

CATEGORIES

Revenue
Expenditures:
Salaries/Benefits
Advertising/Marketing
Operations/Tech
TOTAL

FY 2015

$1,745,000

$677,800
$344,000
$724,400
$1,746,200

FY 2013

$1,765,625

$765,521
$254,022
$701,962
$1,721,504

FY 2012

$2,540,559

$816,330
$254,022
$1,646,271
$2,716,623

Advertising/Marketing Snapshot
ADVERTISING/MARKETING

Regional
Local
Community
Marketing Memberships
Byron Nelson PGA Tournament
Broker Event Sponsorships
Business Retention
Broker Road Shows/Trade Shows
Social Media Marketing
City Strategic Initiatives
Other Marketing Expenses
TOTAL

2015-2016

$52,500
$32,500
$3,000
$67,500
$85,000
$30,000
$26,000
$70,000
$40,000
$155,050
$161,500
$723,050

Operations Snapshot
OPERATIONAL EXPENSES

Bank Charges
Credit Card Service Fees
Depreciation
Dues and Subscriptions
Interest Expense
General Liability Insurance
Meals
Professional Development
Travel - Auto

2015-2016

$2,500
$7,500
$35,000
$6,450
$4,500
$7,500
$12,000
$11,000
$9,000


Management Fees - Non Marketing
Newsletter Expenses
Maintenance and Repairs
Technology Expenses
Office Supplies
Taxes - Other
Postage
Professional Services
Utilities
TOTAL


$48,000
$4,000
$7,500
$50,000
$10,000
$5,000
$1,000
$42,000
$28,000
$400,950
KPI

69
48
21
4,200
1,575
2,625
200,000

2014-2015 Wins
Small Business Seminars/Workshops
Commercial Real Estate Visibility/Events
Trade Shows/Mission Trips
Business Visits
Business Contacts
Potential Retail Projects
Business Appreciation
Forums to Communicate Irving Priorities
Transportation Infrastructure Updates
100,000 sq. ft. Commercial Real Estate Project
50,000 sq. ft. Commercial Real Estate Project
9
9
5
67
1,224
49
3
5
3
3
6
6
6
3
60
2,000
40
2
4
2
1
2
KPI
RESULTS
Best Place in America to Start a Career (WalletHub)
Safest City in America (FBI)
Most Diverse Zip Code in America (Business Insider)
FY 2016

$1,745,000

$621,000
$723,050
$400,950
$1,745,000

FY 2016

$1,555,000
$190,000
$1,745,000

1 direct job created for $252 in Partnership funding.
107% return on public investment.
(in millions)
3. Implement a social media marketing program
As of August 20th 2015
Source: Impact DataSource
What People Are Saying About The Partnership
Home to 21 of the 5,000 fastest growing US comapnies
4. Promote the Irving brand in Target Market areas
5. Support the City’s strategic initiatives through marketing services
6. Manage the theme towers to maximize revenues for the City and the Chamber
Full transcript