Implementation Matrix - CITY OF IRVING, TX

CITY OF IRVING, TX

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ACKNOWLEDGEMENTS

TIP Strategies would like to thank the many individuals who contributed to the creation of the Irving Economic

Development Strategic Plan. Dozens of business and community leaders participated in this project and contributed

to our understanding of the challenges and opportunities facing Irving. We are especially grateful to the leadership

and staff of the City of Irving for their valuable support and guidance throughout the planning process. We also want

to thank partner organizations who generously gave their time and input, particularly the Greater Irving-Las Colinas

Chamber of Commerce, the Irving Convention & Visitors Bureau, the Irving Hispanic Chamber of Commerce, and

the Las Colinas Association.

CITY OF IRVING MAYOR AND CITY COUNCIL

Beth Van Duyne Mayor (at-large)

John C. Danish Place 1

Allan E. Meagher Place 2 (at-large)

Dennis Webb Mayor Pro Tem, Place 3

Phil Riddle Place 4

Oscar Ward Place 5

Brad M. LaMorgese Deputy Mayor Pro Tem, Place 6

Kyle Taylor Place 7

Wm. David Palmer Place 8 (at-large)

CITY OF IRVING STAFF

Chris Hillman City Manager

Michael Morrison Deputy City Manager

Ryan Adams Assistant to the City Manager

Scott Connell Director of Economic Development

Doug Janeway Chief Development Officer

Maura Gast, FCDME Executive Director, Irving Convention & Visitors Bureau

IRVING PROJECT TEAM PARTNERS

Beth Bowman President & CEO, Greater Irving-Las Colinas Chamber of Commerce

Don Williams Vice President of Economic Development & Operations, Greater Irving-Las Colinas Chamber of Commerce

Joey Grisham Director of Business Recruitment, Greater Irving-Las Colinas Chamber of Commerce

Joe Chapa Executive Director, Irving Sister Cities / International Trade & Development Assistance Center, Greater Irving-Las Colinas Chamber of Commerce

TIP STRATEGIES CONSULTING TEAM

Jon Roberts Managing Principal

John Karras Senior Consultant

CITY OF IRVING, TX

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CONTENTS

Introduction ................................................................................................................................................................. 1

The Framework ...................................................................................................................................................... 1

The Approach ......................................................................................................................................................... 1

SWOT Analysis ...................................................................................................................................................... 2

The Opportunity ...................................................................................................................................................... 3

The Challenge ........................................................................................................................................................ 3

Strategic Plan ............................................................................................................................................................. 4

Vision ...................................................................................................................................................................... 4

Priority Initiatives .................................................................................................................................................... 4

Initiative 1. International Business Development ................................................................................................ 5

Initiative 2. Entrepreneurship & Innovation ......................................................................................................... 9

Initiative 3. Higher Education Research & Development .................................................................................. 12

Initiative 4. Business Retention & Expansion .................................................................................................... 13

Initiative 5. Domestic Business Recruitment ..................................................................................................... 16

Initiative 6. Economic Development Tools & Resources .................................................................................. 18

Initiative 7. Events & Conferences .................................................................................................................... 22

Initiative 8. Community Brand & Image ............................................................................................................. 24

Organizational Framework ................................................................................................................................... 26

Irving Economic Development Advisory Council (EDAC) ................................................................................. 26

Performance Metrics ............................................................................................................................................ 27

Appendix A: Support Structures ............................................................................................................................... 30

Support Structure 1: Sites & Infrastructure .......................................................................................................... 31

Support Structure 2: Talent & Workforce Development ....................................................................................... 33

Support Structure 3: Quality of Place & Amenities .............................................................................................. 35

Appendix B: Peer Organizational Comparison ......................................................................................................... 39

Appendix C: Incentive Program Evaluation .............................................................................................................. 43

Incentive Recommendations for Irving .............................................................................................................. 43

Local Incentives Use ......................................................................................................................................... 45

Best Practices ................................................................................................................................................... 47

Appendix D: SWOT & Economic Assessment ......................................................................................................... 50

Introduction ........................................................................................................................................................... 50

Key Findings ...................................................................................................................................................... 51

SWOT Analysis ................................................................................................................................................. 54

Economic Assessment ......................................................................................................................................... 57

Location Advantages ......................................................................................................................................... 57

Economic Trends .............................................................................................................................................. 60

Commuting Patterns .......................................................................................................................................... 66

Industry Analysis ............................................................................................................................................... 70

Workforce and Occupational Analysis .............................................................................................................. 74

Benchmark Comparisons ..................................................................................................................................... 78

Appendix E: Target Industry Analysis ....................................................................................................................... 85

Recommended Target Industries for Irving .......................................................................................................... 86

Quantitative Analysis ............................................................................................................................................ 86

Qualitative Analysis .............................................................................................................................................. 89

CITY OF IRVING, TX

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Strategic Considerations ...................................................................................................................................... 89

Target Industry Recommendations ...................................................................................................................... 90

Corporate Headquarters .................................................................................................................................... 90

Corporate Training ............................................................................................................................................ 91

Foreign-Based Corporations ............................................................................................................................. 91

Software & Information Technology .................................................................................................................. 92

Telecommunications ......................................................................................................................................... 92

Finance & Insurance ......................................................................................................................................... 93

Health Care Specialties & Laboratories ............................................................................................................ 93

Professional Services ........................................................................................................................................ 94

Industrial Technology ........................................................................................................................................ 95

National Associations ........................................................................................................................................ 96

Appendix F: Strategic Marketing Initiatives .............................................................................................................. 97

Introduction ........................................................................................................................................................... 97

Create a unified brand and marketing strategy for the Partnership ................................... 98

Build new relationships and strengthen existing relationships with key audiences. ........ 101

Marketing Strategies Implementation Table....................................................................................................... 103

Target Industry Intelligence ................................................................................................................................ 105

Appendix G: Prioritized Site Listing ........................................................................................................................ 115

Vacant & Redevelopable Land ........................................................................................................................... 116

Vacant Commercial & Industrial Land ................................................................................................................ 117

Redevelopable Commercial & Industrial Land ................................................................................................... 118

Prioritized Site Evaluation .................................................................................................................................. 119

Former Texas Stadium Site District ................................................................................................................ 120

Irving Convention Center Station .................................................................................................................... 121

Heritage Crossing District ................................................................................................................................ 122

North Lake College Station ............................................................................................................................. 123

Irving Mall ........................................................................................................................................................ 124

Plymouth Park ................................................................................................................................................. 125

Carpenter Ranch ............................................................................................................................................. 126

Valley View ...................................................................................................................................................... 127

Appendix H: Implementation matrix ........................................................................................................................ 128

Implementation Plan - Years 1-5 ..................................................................................................................... 128

CITY OF IRVING, TX

ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | 128

APPENDIX H: IMPLEMENTATION MATRIX

IMPLEMENTATION PLAN - YEARS 1-5

0-6 MONTH INITIATIVES

1.1.2. Cultivate and expand relationships with Irving corporations that have an existing global presence.

1.3.2. Promote the current international mix of companies already in Irving.

1.4.1. Build and leverage local relationships with foreign-based firms to promote Irving as a destination for new investment and jobs.

1.4.3. Continue and expand on the international trade work being led by Irving’s International Trade Development and Assistance Center.

1.6.1. Create an ongoing dialogue to enhance the multicultural environment in Irving.

1.6.2. Continue to build stronger linkages between the city/chamber/ICVB partnership and other organizations to make connections for global business activities in trade and foreign direct investment.

1.6.3. Cultivate relationships with national/international organizations with headquarters in Irving to assist with international business connections.

2.1.4. Work with the local real estate community to establish Innovation Center that includes co-working space for entrepreneurs, startups, and freelancers in this district.

2.3.3. Promote entrepreneurship by serving as a “connector” between local entrepreneurs and the necessary resources they seek.

4.2.1. The database should be evaluated and expanded on a regular basis with a focus on companies that serve external markets or are suppliers to Irving’s primary employers.

4.3.1. Ensure that staff resources are available to meet regularly with Irving’s large employers.

4.3.7. Pursue aggressive monthly, quarterly, and annual goals for business visits in the BRE program.

4.4.2. Continue to use the City’s annual online business survey.

4.4.3. Include questions on the City survey about employers’ attitudes toward the business climate, talent availability, and workforce quality in Irving.

CITY OF IRVING, TX


0-6 MONTH INITIATIVES (Cont’d.)

5.1.1. Respond to all business recruitment/expansion prospect leads within 24 hours, using a co-signed (by the Chamber and the City) letter of interest to leads.

5.1.2. Expand Irving’s database of real estate developers, commercial and industrial brokers, and site consultants.

5.1.5. Continue to conduct regional “road shows” to commercial real estate and development firms in the Metroplex.

5.2.1. Strengthen the chamber’s efforts to engage business executives by bringing together a small group of executives to discuss emerging trends.

5.2.2. Work closely with Irving’s existing employers to identify opportunities for the recruitment of suppliers or service providers.

5.3.1. Maintain an active presence at regional business recruitment efforts with the Dallas Regional Chamber of Commerce.

5.3.2. Continue the Chamber’s participation in state-wide business attraction initiatives through Team Texas, TexasOne and the Governor’s Office.

6.1.1. Ensure that processes are streamlined, transparent, well documented, and well understood.

6.1.3. Encourage firms receiving public incentives to become investors in the Partnership.

6.3.2. Review the city’s incentives relative to the target industries and the city’s performance metrics.

6.3.3. Establish minimum thresholds for both wages and capital investment.

6.3.6. Specify the levels of capital investment necessary for firms to receive incentives.

6.3.7. Maintain mandatory annual “certificates of compliance” for any businesses receiving incentives.

6.3.8. Continue using software programs to measure the economic and fiscal impacts of providing incentives.

6.5.3. Maintain local data not tracked in paid subscription services.

7.1.1. Continue to work with the ICVB to attract a new convention center hotel adjacent to the Irving Convention Center.

7.2.2. Identify and pursue opportunities for distinctive new festivals and events within the City.

7.3.1. Support the ICVB and its Board of Directors in its work to regularly convene a group of leaders from Irving’s hospitality sector to reveal opportunities to leverage the community’s visitor services industry (hotels, restaurants, and other businesses) to support the City and Chamber’s economic development programs.

7.3.2. Identify industry associations within each target industry and encourage them to consider Irving as a destination for annual events and meetings.

CITY OF IRVING, TX


6-12 MONTH INITIATIVES

2.1.3. Create marking efforts that target specific types of businesses to expand and relocate into the district.

4.1.1. Hold regular meetings to provide forums for communication, relationship building, and information gathering.

4.1.3. Craft solutions, monitor the issues, and track progress towards addressing these issues.

4.3.2. Prioritize business visits by employer size, employer growth rates, target industries, and lease terminations.

4.3.3. Structure the visits to gauge the abilities and needs of local businesses in order to operate successfully and to expand in Irving.

4.3.4. Structure BRE visits to serve the purposes outlined in the plan.

4.4.1. Employ the use of Customer Relations Management (CRM) software.

5.1.4. Host a “fam” tour to showcase Irving as a viable option for new investment and business expansion.

5.4.1. Create marketing packages that tell the story of why Irving is the right location for businesses within each target industry.

5.4.2. Each marketing package should be simple, yet powerful, and be unique to each target industry.

6.2.1. Annually benchmark the level of funding and resources for the Partnership.

6.3.5. Specify target industries that are eligible to receive certain incentives.

6.3.9. Encourage businesses to hire locally as part of Irving’s incentive package.

6.4.1. Review the Neighborhood Housing Incentive Program to consider extending it beyond the initial set of neighborhoods.

6.4.2. Expand the geographic reach of the Corridor Enhancement Incentive Program to cover all prioritized sites.

6.4.3. Revise the Small Business Expansion Incentive Program to encourage the recruitment of small businesses from outside of Irving.

6.5.5. Establish the Partnership as the “go to” place for any data on Irving.

6.5.6. Publish relevant reports on Partnership organization websites.

CITY OF IRVING, TX


2-3 YEAR INITIATIVES

1.1.1. Review the Chamber’s staff capacity to develop long-term business relationships in key foreign markets.

1.1.3. Evaluate financial resources to participate on international trade missions (inbound and outgoing) to develop more opportunities for trade and investment.

1.4.2. Strategically participate in international conferences and events and use these trips to make calls to specific companies based in the hosting city.

1.4.4. Expand international business for Irving-based firms.

1.5.1. Utilize resources such as The Economist magazine’s Economist Intelligence Unit (EIU) and its Country Reports.

1.5.2. Make connections with foreign-based firms within Irving’s strongest sectors.

2.1.1. Prioritize public policies and infrastructure investments that make the Heritage Crossing Innovation District more attractive to entrepreneurs and startups. .

2.2.1. Work with the major telecom companies in Irving and the surrounding region to pursue a “Global 5G Innovation Conference” in Irving.

2.2.2. Position Irving as the 5G Innovation Zone or Corridor.

2.2.3. In partnership with Verizon’s Hidden Ridge development adjacent to the DART Orange Line, launch the nation’s first 5G TOD (transit-oriented development).

2.3.1. Sponsor events relevant to startups and high-growth sectors at Innovation Center.

2.3.2. Support access to high-speed internet throughout the community.

2.3.4. Encourage Irving ISD to incorporate more entrepreneurship and business development programs into academic curricula.

4.1.2. Identify cross-cutting issues that affect the sector.

4.3.5. Develop a questionnaire and routinely enter the captured information into the employer database for future reporting.

4.3.6. Engage local stakeholders as active partners in the BRE program.

4.4.4. Utilize local experts to assist businesses in areas such as funding, international trade, lean manufacturing, succession planning, and sales and marketing.

4.5.1. Encourage business leaders to interact with local partners on economic development strategy, small business assistance, talent management, and education.

CITY OF IRVING, TX


2-3 YEAR INITIATIVES (cont’d.)

5.1.3. Conduct at least four recruiting trips/marketing missions per year to meet with company executives in out-of-state markets with a high concentration of firms in target industry clusters. .

6.1.2. Create a unified brand for use in all economic development marketing materials that is representative of the Partnership and its partner organizations.

6.2.2. Explore the potential for generating a higher level of private sector support for the Partnership through a capital campaign.

6.2.3. Evaluate resources needed for staff to support the high levels of economic development prospects and an expanded program.

6.3.1. Evaluate options for building the economic development incentive fund.

6.4.4. Explore the feasibility of establishing TIRZ districts for each of the city’s prioritized sites, wherever they are not already in place.

6.5.1. Advance skills for City research staff to develop a deep knowledge of various business aspects of Irving.

6.5.2. City of Irving research staff should support the Chamber’s business retention, expansion, and recruitment efforts.

6.5.4. Create and regularly maintain an online dashboard with local real estate, demographic, and economic data.

7.1.2. Support improvements to the physical connectivity and pedestrian infrastructure between the Irving Convention Center, the nearby DART Orange Line station, and surrounding developments in Las Colinas.

7.2.1. Allow temporary beer and wine sales in city parks and streets during festivals.

CITY OF IRVING, TX


4-5 YEAR INITIATIVES

1.2.1. Leverage DFW International Airport’s new nonstop destinations in foreign countries to cultivate business relationships in other markets.

1.2.2. Work with DFW International Airport, regional and state economic development efforts, and Irving business executives to set up trade missions to new nonstop destinations.

1.3.1. Work with the Irving International Trade Development and Assistance Center to test the concept of an international soft landing center for foreign-based startups.

1.6.4. Utilize the EB-5 visa program as a way to attract foreign talent and investment into Irving.

2.1.2. Designate the Heritage Crossing Innovation District as the first “fiberhood” in the Metroplex.

2.4.1. Identify and target innovative high-growth firms within industries that are a natural fit for Irving.

2.5.1. Create a central database for RFPs from large Irving corporations.

2.5.2. Make the database available to all companies in Irving.

2.5.3. Establish a process to “pre-qualify” small businesses to serve as a vendor to large corporations.

3.1.1. A center should be led by a consortium of colleges and universities involving the University of Dallas, North Lake College, other Metroplex higher education institutions, and potentially other state or national institutions.

3.1.2. Centers should involve multiple Irving businesses and other Metroplex businesses, focused on industry clusters in which Irving has a competitive advantage and in which innovation is a key factor for business success.

3.1.3. The task force should consider the following potential focus areas for the centers: 5G mobile technology, Private sector cyber security, Corporate training methods & software, Smart Cities infrastructure.

4.5.2. Cultivate relationships with CEOs of local firms that are based outside of Irving to create an open channel of communication, including annual visits to out-of-market corporate headquarters.

6.3.4. Create an anchor employer program that incentivizes Irving’s existing businesses if they play a significant role in helping recruit a key supplier, service provider, or customer business into the city.

6.4.5. Create a new retail sales tax rebate for materials purchased locally for use in approved revitalization projects.

Documents

Implementation Matrix - CITY OF IRVING, TX