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On February 10, 2010 the Center for Public Administration and Public Policy at Kent State University held a forum on intergovernmental collaboration in Northeast Ohio. Daniel Smith, Economid Development Director of Kent discussed the economic benefits and challenges to establishing a Joint Economic Development District (JEDD)
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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