Town of Inglis, FL Economic Development Plan

2011

Town of Inglis, FL Economic Development Plan

Prepared by PAD 5356 Managing Community and Economic Development Managing CoUmnimveurnsSiiutPtyymAaoDmnf 5edCr3eE,5nc26ot0rna1ol1mFliocriDdeavMDUenelaovinvpeaelmgorsipenitmngyteConfotmCCemonuutrrnasieltyFlEocroidnaomic

8/2/2011

Report Authors Ball, Steven

Douge, Woody Gamblin, Timothy

Gauthier, Marc Graham, Jessica Hinson, Courtney Hoglund Ashley

Kuo, Daisy Kuykendal,l Benjamin

Lowe, James Monroe, Judith

Ortiz, Juan Palacio, Carol Robinson, Latosha Ryan, Susanne Saldana, Brenda Warner, Clement Williams, Lawanda

Instructor: Christopher V. Hawkins, Ph.D

Department of Public Administration University of Central Florida HPA II Suite 238 Orlando, FL 32816-1395

Town of Inglis, FL

Economic Development Plan

2011

Report Contents

Report Contents ...........................................................................................................................i Executive Summary and Summary of Recommended Actions ..................................................... 1 Defining Local Economic Development ....................................................................................... 3 Theories of Economic Development ........................................................................................... 5

Neoclassical Economic Theory ................................................................................................ 5 Economic Base Theory ............................................................................................................ 5 Product Cycle Theory .............................................................................................................. 5 Location Theory ...................................................................................................................... 6 Central Place Theory ............................................................................................................... 6 Economic Development Planning Process ................................................................................... 8 Pre-planning steps ................................................................................................................. 8 Six Phases of the Planning Process ......................................................................................... 9 Typology of Planning Approaches ........................................................................................... 9 Economic Development Strategies............................................................................................ 11 Locality Development Strategies ........................................................................................... 11

Land-Banking.................................................................................................................... 13 Infrastructure Development............................................................................................... 14 Speculative Building .......................................................................................................... 15 Zoning Regulations ........................................................................................................... 15 Regulation Improvement ................................................................................................... 17 Townscaping ..................................................................................................................... 18 Shopsteading .................................................................................................................... 19 Housing & Neighborhood Improvement ............................................................................ 19 Community Services .......................................................................................................... 20 Business Development Strategies.......................................................................................... 21 One-Stop Business Assistance Centers.............................................................................. 22 Start ?Up and Venture Financing ....................................................................................... 22

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Town of Inglis, FL

Economic Development Plan

2011

Small Business Development Centers ................................................................................ 24 Micro?Enterprise ............................................................................................................... 25 Women's Enterprises ......................................................................................................... 25 Promotion and Tourism Programs ..................................................................................... 26 Research and Development ............................................................................................... 27 Enterprise Zones ............................................................................................................. 277 Community Economic Development (People Centered Approaches)...................................... 30 Human Resource Development ............................................................................................. 30 Workforce Investment Boards ............................................................................................ 31 First-Source or Targeted Hiring Agreements ..................................................................... 31 Training Programs........................................................................................................... 311 Youth Enterprise................................................................................................................ 32 Self-Employment Initiatives............................................................................................... 32 Career Ladders .................................................................................................................. 32 Education as the Foundation of Human Resource Development ........................................ 33 Implementing a Human Resource Development Strategy................................................. 333 Community Economic Development.................................................................................... 344 Community Development Corporations............................................................................. 35 Incentives and Community Benefit Agreements................................................................. 37 Local Government's Role in Community Economic Development ....................................... 37 The Local Context .................................................................................................................... 38 Inglis as a Rural Area ............................................................................................................ 39 Growth in Rural Communities ............................................................................................... 39 Selecting Planners and Their Roles........................................................................................ 41 Inglis ................................................................................................................................. 41 Yankeetown....................................................................................................................... 41 Levy County....................................................................................................................... 41 Withlacoochee Chamber of Commerce .............................................................................. 41

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Town of Inglis, FL

Economic Development Plan

2011

Residents of Inglis ............................................................................................................. 43 Southwest Florida Water Management District................................................................... 43 Florida Department of Transportation ............................................................................... 43 Citrus County .................................................................................................................... 44 Florida Department of Environmental Protection ............................................................... 44 Phase I: Data Collection and Problem Identification .............................................................. 44 Demographics ................................................................................................................... 44 Character of Economic Base .............................................................................................. 45 Goals of Inglis, Florida .......................................................................................................... 45 Phase II: Planning Approaches ? Strategy Selection .............................................................. 48 SWOT Analysis - Strengths, Weaknesses, Opportunities, Threats ...................................... 48 Recommended Strategic Investments ....................................................................................... 54 Locality and Business Development Strategies ...................................................................... 54 Criteria Definitions for Decision Matrix Recommendations:............................................... 56 The Human Resource Development Option (the Supply Side) ................................................ 61 The Community-Based Employment Development Strategy.................................................. 63 Targeting and Marketing Neighborhood/Community Assets ............................................. 64 Planning Approaches ............................................................................................................ 64 Managing Strategic Investments ........................................................................................... 65 Utilize Sustainability as a Guiding Principle for Strategic Investments ................................... 69 Sustainable Development...................................................................................................... 69 Three Conceptual Dimensions of Sustainability ................................................................. 71 Six Principles of Sustainability ........................................................................................... 73 Leverage the Unique Character of Inglis in Developing a Sustainable Rural Dev. Plan ........... 78 Inglis as a Rural Area......................................................................................................... 79 Growth in Rural Communities............................................................................................ 79 Establishing Sustainable Rural Development as a Focus .................................................... 80 Implementing a Sustainable Rural Based Development Strategy ........................................ 81

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