Selected Local and Regional Economic projects

 

comprehensive Economic Development Strategy (CEDS)

Louisville, Kentucky

Economic Development Strategy

The Kentuckiana Regional Planning and Development Agency (KIPDA) retained RKG Associates to assist in creating a Comprehensive Economic Development Strategy (CEDS) which served to identify regional strengths and weaknesses, analyze the regional market potential, establish a vision for future economic development, prioritize existing & proposed capital improvement projects, and establish an implementation and monitoring strategy. The market analysis was conducted at the local and regional level, allowing the consultant to tailor recommendations based on the unique opportunities in each jurisdiction. The consultant performed a development trend analysis and inventoried all sizeable, available land and buildings within the region to understand the impact potential of each capital improvement project. RKG also performed a detailed outreach effort, interviewing public, non-profit and corporate stakeholders. This effort provided the variety of perspective needed to best measure the economic development needs within the KIPDA region. RKG Associates worked with a diverse steering committee made up of public and private-sector representatives to finalize the implementation strategy. The completed CEDS document was approved by the EDA.

 

economic development strategy

Roswell, Georgia

Public/Private Development Financing

RKG Associates, in partnership with FOCOM, Inc., prepared a comprehensive analysis of the City’s competitive position to attract new jobs, the current and projected opportunities available for the City to begin its efforts, and the City’s capacity to implement an economic development plan.  The effort included a regional cluster and target industry analysis to identify and target business sectors representing the highest probability of success for Roswell.  The plan also addresses workforce readiness, entrepreneurial development and business growth/retention opportunities and constraints.  The City began implementing recommendations during the plan development process, including the creation of an external economic development entity, the creation of is Downtown Development Authority, the approval of a mixed-use development in the City’s downtown area, and the complete rewrite of the City’s zoning code. 

 

Westwood Station

Westwood, Massachusetts

Westwood Station

Cabot, Cabot & Forbes has assembled a nationally recognized team to design and develop a 4.5 million square foot comprehensive mixed-use, transit-oriented development plan for a 117-acre site adjacent to the University Avenue/Route 128 MBTA/Amtrak station in the community of Westwood, Massachusetts. The Town was to review and permit the large and urban-oriented development. RKG was hired as the fiscal peer review consultant to help the Town and its various boards and agencies understand the short and long-term impacts of the project and to negotiate a comprehensive development agreement that includes Tax Increment Financing for over $200 million in infrastructure development. RKG also advised the Town on other development financing mechanisms, including assessment-based financing permitted under special legislation.

 

Rochester economic development strategy

Rochester, New Hampshire

Bedford Master Plan Update

Working The City of Rochester is an older industrial city located in northern Strafford County in New Hampshire’s Seacoast region, about one and one-half hour north of Boston. While many communities in southern New Hampshire prospered over the past two decades (primarily from growth from the greater Boston region), Rochester did not benefit from this growth. The economic downturn combined with the City’s continual lack of investment in its neighborhoods and infrastructure was a deterrent for business investors. The City needed a market-based strategic plan to capitalize on the community’s envied economic assets including major highway access and available serviced industrial land. RKG prepared an action-oriented strategic plan that incorporated an extensive analysis of socioeconomic data, tax base and land use conditions, as well as current real estate market conditions.RKG also surveyed and conducted personal interviews with businesses in Rochester to understand current business conditions and how the City could best position itself to retain existing businesses, as well as recruit new firms. Since the completion of the plan, Rochester has experienced unprecedented commercial growth including the attraction of two anchor retailers, and other commercial development which has positively impacted the City’s tax base.Also, the community has started investing in its downtown and neighborhoods with infrastructure improvements.

 

Westchester County Economic Development Strategy

Westchester County, New York

Bedford Master Plan Update

RKG Associates prepared an economic development strategy for this large, economically and socially diverse county located outside New York City. Employment trends in the County followed the overall pattern of New York State during the 1990s, but lagged behind the U.S. as a whole. A trend of corporate downsizing led by IBM, Oxford Health Plan, Prodigy and Texaco, and the closure of a General Motors facility in North Tarrytown, resulted in the loss of over 46,000 jobs during the decade.

RKG prepared an analysis that evaluated development locations within the County, identified industry clusters and target markets with high-growth potential, and assessed the educational and labor-force training system within the County, as well as the organizational delivery system for economic development services. RKG’s analysis of the County’s economic climate led to the creation of focused marketing efforts around six key employment clusters: tourism, information technology, headquarters and corporate services, biotechnology, education, and manufacturing. Marketing priorities and incentives were established to attract new corporate tenants to headquarters facilities formerly occupied by IBM and Texaco.

 

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