201 N Stone Ave 1st floor
Tucson, AZ 85701
(520) 791-5550
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ECONOMIC DEVELOPMENT Information in Hand Indicators of Success Potential Negative Consequences 1 Slide 2
Working Definition: Economic development is “the deliberate effort to improve the economy of a specified geographical area.” Source: Stewart E. Perry, Canadian Centre for Community Renewal Plan Element: Economic Development Definition 2 Slide 3
Area Today Unemployment rate significantly higher compared to city as a whole (9.1 Median % vs. 5.9%) Median household income is lower compared to city as a whole ($21,204 vs. $30,981) High school graduation similar to city as a whole, but only half as many bachelor’s degrees (7% vs. 14%) Twice as many people are under the poverty level compared to city as a whole (36% vs. 18%) Occupations are diverse. Median value of owner-occupied homes is lower than median for city as a whole. Median gross rent is lower than for city as a whole. Great majority of land is privately owned (73%) Plan Element: Economic Development Existing Conditions 3 Slide 4
Big Economic Development Ideas for Area: More services for people in area, including residents, employees, and visitors Increase jobs Attract more skilled workers Provide vocational training programs Promote tourism Have diversity of businesses to support many levels of income development Identify ways to support and encourage small businesses Provide vocational training programs Increase awareness of existing resources for business Address issues with City permitting process and fees Plan Element: Economic Development Visioning Sessions 4 Slide 5
General Findings: n Population expected to increase another 38% by 2030. Suggests future demand for all types of housing, including smaller housing types, which are expected to become more prevalent. n Job base is expected to continue to grow, generating additional demand for office development, as well as retail space. n Tucson attracts travelers, making it a prime hotel location, and there is expected to be an ongoing strong hotel demand. Plan Element: Economic Development Market Analysis 5 Slide 6
Area Strategic Recommendations: Revitalization efforts should focus on activity center near Pima Community College. Housing should be the initial focus of revitalization efforts. Commercial development opportunities will increase as residential development occurs and the local population grows. To enhance the financial feasibility of new development, zoning in the OARP area should encourage mid-rise densities along major corridors. Plan Element: Economic Development Market Analysis 6 Slide 7
Area Recommendations cont.: n Consider various incentives to encourage desired development, such as density bonuses for projects that include mixed uses, income-restricted affordable housing, community facilities, etc. ν Increased transit connections can enhance development opportunities. Streetscape and landscaping improvements can enhance the pedestrian environment and property values. The City’s efforts to enhance code enforcement and improve security through crime prevention should continue to be a high priority throughout the OARP area. Plan Element: Economic Development Market Analysis 7 Slide 8
Plan Element: Economic Development Indicators of Success What would be some indicators of successful economic development in the OARP Area? Your thoughts? 8 Slide 9
Plan Element: Economic Development Indicators of Success What would be some indicators of successful economic development in the OARP Area? March 12 Brown Bag participants responses: Positive changes in census statistics - median income, education, median housing price, etc. More money being spent in the area. More jobs and readily available information about available jobs in the area. More available training and more trained workers. Jobs that allow people who are re-entering the community a chance to be productive Mix of residential and office Sustainability over time (evolving as demands change) Little more high tech 9 Slide 10
Plan Element: Economic Development Indicators of Success What would be some indicators of successful economic development in the OARP Area? Brown Bag responses cont. Higher end retail, entertainment, and restaurants Tourist destination Existing businesses and motels still going, but even more successfully Property maintained throughout area Upgraded and well maintained infrastructure and attractive streetscapes Parking successfully addressed Development density increased 10 Slide 11
Plan Element: Economic Development Potential Consequences Could there be potential negative consequences of economic development for the OARP area? Your thoughts? 11 Slide 12
Plan Element: Economic Development Potential Consequences Could there be potential negative consequences of economic development for the OARP area? March 12 Brown Bag participants responses: Gentrification Definition - “the process of renewal accompanying the influx of middle-class people into deteriorating areas that often displaces earlier, often lower-income, residents “Non-complementary” uses (e.g., trucks from businesses in neighborhoods) 12 Slide 13
Plan Element: Economic Development Final Thought EVERYTHING IS INTERTWINED Successful economic development appears contingent on success in addressing many of the other elements of the OARP plan, including: Land Use Transportation Urban Design Public Services and Facilities Housing Public Safety Education Arts 13 |
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