Title
Chief Administrative Office, Office of Economic Development, recommending the Board of Supervisors receive and file two reports commissioned as economic development tools: Buxton and Center for Strategic Economic Research (CSER) reports.
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Background:
On May 18, 2009, Board of Supervisors directed staff to implement a 12-month Interdepartmental Action-Plan for community economic development, as part of the General Plan implementation. As part of that economic development plan, several specific activities were commissioned aimed at retaining and growing businesses and laying the foundation for future business prosperity in El Dorado County, including business research efforts, business outreach activities and business partnering efforts. This item highlights two of those research activities: the Buxton programs and the Center for Strategic Economic Research (CSER) reports.
Targeted Retail Retention and Development Tool - Buxton CommunityID, HealthCareID& SCOUT
Because of the negative impacts the recession has had on small businesses, a local partnership of Marshall Medical Center, City of Placerville, and the County of El Dorado set about exploring ways in which to help the small business community remain viable and grow. Reviewing a variety of successful community models, the partnership identified the Buxton suite of services as an innovative tool for use in retaining, expanding, and attracting a diverse and sustainable retail, restaurant and healthcare facilities/services base in El Dorado County.
The partners' objective is to help inform local decisions such as: finding the best locations for retail or healthcare facilities; creating long-term customer relationships; and identifying the best merchandising mix for retail stores. For businesses and communities, the data provided can help spur jobs and economic activity by rejuvenating and/or attracting retail, restaurants, and healthcare facilities.
Description:
In cooperation with Marshall Medical Center and City of Placerville, the CAO's Office of Economic Development has acquired a mix of Buxton healthcare and retail analytical services. These services are designed to:
• provide research and verification of El Dorado County's retail trade area;
• help existing retailers align their product and service offerings to meet current market demands;
• intelligently evaluate the County's current and future retail potential;
• match retailers and restaurants to the County's and travelers' market potential;
• deliver customized marketing packages and introductions to national and regional retailers.
In addition, Buxton has identified El Dorado County's healthcare needs through an analysis of its existing healthcare supply and demand. This feature will help existing healthcare providers align and prepare to meet future County residents, retirees, recreating visitor's healthcare needs all while providing valuable workforce development data for educators to help expand our local workforce base.
The program goal of the Buxton tool is to further enhance and develop a diverse retail and healthcare base, with a focus on unique and specialty businesses that "fit" the rural lifestyle and culture of El Dorado County communities. The County will use this tool to assist local businesses and facilities to identify a strong competitive product or service niche, as well as gaps needing realignment of products or service offerings. These efforts are designed to result in:
• mobilizing residents to shop and dine locally;
• minimizing retail leakage;
• assisting property owners in filling vacant spaces;
• increasing tax revenues (property and sale/use taxes);
• growing employment opportunities locally;
• enhancing El Dorado County's ability to capture other economic opportunities;
• aiding healthcare and commercial strategic planning;
• attracting hospital and physician groups;
• attracting urgent and ambulatory care facilities;
• working with healthcare real estate developers; and
• better management of community healthcare resources.
Performance Measures & Outcomes:
The contract was initiated in January 2010 with the following contractual obligations having been received by September 2010:
• CommunityID® is a customized consumer profile match of seven sites within El Dorado County whose data is delivered via SCOUT® and includes targeted retail marketing packages available upon request.
• SCOUT® is an online marketing system that allows the local partnership to effectively use CommunityID® by showcasing retail sites. CommunityID® generates reports via SCOUT® to reproduce maps, site-specific data and customized marketing presentations.
• HealthCareID® is an online healthcare opportunity and market analysis utilizing CommunityID® as a platform for identifying and providing strategic insights as related to community healthcare services and real estate needs.
Since July 21st, we have received 90% of the necessary data and have begun field deployment. To date, there have been 17 counseling session with local businesses/realtors and 12 organizational demonstrations and educational presentations.
Ongoing activities will include:
• Annual calls to retailers: 30 calls annually by County OED/partners
• Develop County resources incentive plan: EDAC by Q2 2011
• Annual report to BOS: County OED/EDAC by Q3 2011
Economic Base Analysis and Quarterly Industry Sector Reports - Center for Strategic Economic Research (CSER)
In seeking to better understand just what type of business and industry comprises the economy of El Dorado County, the El Dorado Hills Community Foundation and CAO's Office of Economic Development jointly invested in an Economic Base and Industry Cluster Analysis report. This report analyzes local and regional economic indicators and business climate conditions to identify eight sectors of the economy with the greatest economic development potential for creating further employment and wealth in El Dorado County. The study also evaluates the role El Dorado Hills plays in the driving growth in the County-wide economy.
The CSER Economic Base Analysis and Quarterly Industry Sector reports are a compilation of internal knowledge, technical research, and on-the ground realities. Major tasks in this study are:
• Gather Economic Development Perspectives
• Analyze Economic Base and Industry Performance
• Evaluate El Dorado Hills and County Role in Regional Economy
• Assess Business Climate and Assets
• Highlight Targeted Economic Development Opportunities
• Produce Four Quarterly Sector Reports
The economic base analysis report and subsequent industry sector analysis will provide a SWOT (strengths, weaknesses, opportunities, threats) analysis and possibilities for growing the following identified sectors: Health/Medical Wellness sector, Recreational & Tourism, the Advanced Manufacturing sector, and either the Education or Finance & Insurance industry cluster. Based upon this analysis, coupled with the Buxton report and three years worth of Business Walk responses, we are recalibrating our efforts to focus on competitive industry sectors and those in need of technical assistance and counseling to remain competitive.
The goal of the CSER report is to be a "snapshot" of the El Dorado County economy, as it exists today. Our objective is for all (the county, private sector and non-profit sectors) to gain a better understanding our local economy and which sectors are actually driving economic growth now and into the future. From this broad understanding, we'll be able to align our activities that help those sectors thrive and prosper here.
The deliverables of the base study are:
· Assemble Economic Development Perspectives
· Analysis of our Economic Base and Industry Performance
· Evaluation of El Dorado Hills and county role in Regional Economy
· Assessment of El Dorado County Business Climate and Assets
· Development of target Economic Development Opportunities
· Production of four Quarterly Sector Reports
Performance Measures & Outcomes:
The project was initiated in January 2010 with the Phase One Draft completed Summer 2010. A Quarterly Health/Medical/Wellness industry sector analysis is expected to be completed November 2010. Outcomes are as follows:
o Bi-annual Economic Development Profile with an Economic Base Analysis, Retail and Non-Retail Analysis, and Economic Constraints and Opportunities Issue Paper 1st Quarterly Target Industry Sector Report
(Health/Medical/Wellness under development - November 2010)
o 2nd Quarterly Target Industry Sector Report
(Recreation & Tourism)
o 3rd Quarterly Target Industry Sector Report
(Advanced Manufacturing)
o 4th Quarterly Target Industry Sector Report
(Education & Creative)
Attachments:
· Buxton Retail Site Assessment Report
· Center for Strategic Economic Research (CSER) report