X-Plan full document - City of Xenia

Chapter 3 Grow Our Economywas once a major Xenia employer. It is nowa long-vacant, deteriorating complex ofbuildings that is a blighting influence onseveral surrounding neighborhoods andone of the City’s major thoroughfares andentrances. The City has successfully utilizedgrant funding to perform environmentalassessments and has received a grant forcleanup. The remaining steps are to securelocal match funding, complete the cleanup/rehabilitation and recruit end users.GE 4.2 Enhance Bellbrook and CincinnatiAvenues and brand as business corridors.Enhancements and branding will send clearersignals about the identity and future directionof these corridors, which also serve as key entrypoints to Xenia. Enhancements can also helpto preserve the viability of adjacent residentialareas. Examples of physical improvementsinclude gateway signage, decorative lighting,screening and/or landscaping.GE5 Take a “Grow Your Own” Approach toEconomic DevelopmentAn increasingly popular strategy is to “grow yourown” economy by diverting some economicdevelopment resources away from recruitmentefforts to helping local startup companies grow.This concept is referred to as “EconomicGardening.” Its popularity is linked to its internalfocus of tapping into the near endless supplyof innovative people that already live in acommunity.Xenia is in an incredibly good position to winusing an economic gardening strategy due to itsexcellent regional location, access to universitiesand potential availability of lower cost buildings.For these same reasons, Xenia could becomea laboratory for commercialization of newtechnology developed at Wright-Patterson AirForce Base, Wright State University and CentralState University.City of Xenia Comprehensive PlanGE5.1 Develop and maintain a database forvacant industrial, commercial and downtownmixed-use space. Many occupied buildingshave unused space that can be used by smallstartup companies. Utilize real estate listings,permit data, utility billing data and othersources to inventory and monitor informationon available commercial, industrial anddowntown mixed-use space. Identify squarefootage, use and occupancy status by floor.List information on the City’s website to assistpotential entrepreneurs.GE5.2 Expand Business Retention andExpansion Efforts. Economic developmentprofessionals often attest that 80% of newjobs and investment come from existingbusinesses. This is best accomplished whenlocal governments work in cooperation withbusiness.Ideally, the City would have two full timeeconomic development professionals. Thedirector would run the department and workon attraction, networking and marketingefforts. A retention specialist would focus onrelationship building with existing companies.This could be a part-time position.However, resources are limited and theDevelopment Department is not the only entityinvolved in the economic development process.Use an integrated team approach whereCity department heads are assigned as casemanagers for a set number of companies.Other critical components of the City’sRetention and Expansion program includemembership in the BusinessFirst! program,periodic retention surveys, and a databasecontaining business information and contacts.GE5.3 Create a small business incubator. Thereare thought to be over 1,000 incubators in theUnited States with the vast majority of thosebeing not-for-profit or publicly controlled.Evidence suggests that startup companies that3.8