Extracted text (via pymupdf)
4771 characters
Chandler City Council M O N D A Y , J A N U A R Y 2 3 RD, 2 0 2 3 2 3 Business Development Update FY23 Quick Overview 95% of Goal 23% International of Last Year 75% Prospect Stats 22 Companies $23.7 Billion 4,812 Jobs Located in FY23 In Capital Investment Created in the Region $85,625 Avg. High Wage Salary 4 Numbers as of Dec. 31st B U S I N E S S D E V E L O P M E N T U P D A T E YTD FY23 Current Prospect Activity 5 Active Prospects 229 FY23 Prospects 113 Capital Investment Potential* $120.5 Billion Jobs Potential* 32,649 Square Footage Potential* 38.5 Million *Prospect Potential. Numbers as of Dec. 31st B U S I N E S S D E V E L O P M E N T U P D A T E FY23 YTD Prospects by HQ Location • 12% prospects from California • 23% international prospects including from: • Taiwan • United Kingdom • Austria • Japan • Czech Republic • Spain • France • Singapore 6 International 26 Unknown 34 Grand Total 113 Numbers as of Dec. 31st 13 5 7 2 1 1 2 3 1 1 1 1 2 2 2 1 3 3 1 1 1-10 11-20 21-30 30+ B U S I N E S S D E V E L O P M E N T U P D A T E 7 FY22 & FY23 Chandler Locates 170 Phase 1 Jobs 86,065 SF $117.5M CapEx Numbers as of Jan. 13th Y T D M E T R I C S 172 Phase 1 Jobs 201,221 SF $37.3M CapEx 317 Phase 1 Jobs 104,000 SF $22.4M CapEx 50 Phase 1 Jobs 123,000 SF $20.0M CapEx 50 Phase 1 Jobs 1,200 SF $0.5M CapEx 75 Phase 1 Jobs 68,841 SF $28M CapEx 8 GPEC & City of Chandler Chandler 5-Year Trend on Revenue Return 64:1 Revenue Return Funding for FY23: $137,209 (AZ Office of Economic Opportunity 2021 population) $64 of direct revenue for every $1 invested¹ of total revenue for every $1 invested² $113 in new consumer spending generated by new Chandler jobs and employed Chandler residents. An addition of $441.0 million created by multiplier effects results in total consumer spending of $952.0 million. $511.0M in new Chandler direct revenues³ (boosted to $70.4 million when including related multiplier effects of $30.8 million) $39.5M 1 Includes property, sales and utility taxes, as well as state-shared and other local revenues. 2 Includes direct revenues plus those generated by related supplier and consumer jobs. 3 Revenue estimates are from the Greater Phoenix Consensus Impact Model. In 1999, GPEC and our members developed the region’s first-ever consensus-based revenue and economic impact model. Based on nationally accepted multiplier data provided by IMPLAN, the model is customized to calculate economic and revenue benefits for GPEC’s members and the State of Arizona. 9 G P E C & C I T Y O F C H A N D L E R Regional Results Regional Results Summary FY22* FY21 5-Year Total Payroll Generated (in millions of dollars) $635.00 $594.90 $2,875.6 Jobs 10,859 9,928 47,960 High-Wage Jobs 4,748 5,470 26,704 Average Salary $58,477 $59,921 $59,958 Qualified Prospects 272 277 1,345 Assisted Locates 55 45 234 Capital Investment (in millions of dollars) $3,211.7 $13,020.1 $22,862.4 When a company selects a Greater Phoenix location, all communities benefit with increased tax revenues. GPEC-assisted locates have created 8,673 jobs region- wide for Chandler residents over the past five years. The City of Chandler benefits from site location projects and GPEC activities that occur across the region. Economic development projects create value by generating public and private revenues. Commute patterns and retail studies show that employees of “locates” live and spend their incomes in all Greater Phoenix communities. Results Through Regional Success Numbers through June 30 10 G P E C & C I T Y O F C H A N D L E R Regional Competitiveness 11 Considerations for Arizona’s Next Economy 12 R E G I O N A L C O M P E T I T I V E N E S S Strengthen Arizona-Mexico border economy by capitalizing on reshoring/nearshoring trends and ongoing trade partnerships. Support startups grow in Arizona by enhancing the ecosystem. Advance career technical education, STEM, engineering pathways and industry led applied research. Continue the strong history of water planning and conservation. Strengthen small and medium sized businesses (SMBs) that are drivers to Arizona’s local economy as well as constitute regional supply chains. Capitalize on environmental resilience practices. Transportation infrastructure enables residents and businesses to participate in and contribute to growth of the economy. Economic development incentives can drive creation of quality jobs and advance toward achieving equitable and inclusive growth. Local Community Competitiveness 13 Workforce pipeline Capital improvement planning Innovation and entrepreneurship Highest and best land use/water planning R E G I O N A L C O M P E T I T I V E N E S S