UPDATE: What if Franklin had been invited?

Previously on This Just In…

The update:

You’ll note Franklin Mayor Steve Olson commented on the first blog post that there was no coverage of the October 6th meeting of the South Suburban Chamber that sponsored its “State of the Cities” breakfast.

Mayors Steve Olson from Franklin and Dan Bukiewicz from Oak Creek talked about the economic developments on the horizon for both cities.

I don’t have any information on that meeting. If there’s any online I couldn’t find it.

I do have information from a presentation Franklin’s economic development director Aaron Hertzberg made to the Common Council in August of 2016, much of which is still pertinent today.

Economic Development in Franklin Overall

Promote a high quality community for residents and businesses alike

Create jobs for a growing population

Stabilize and expand a diverse tax base

Pursue Attraction, Retention & Expansion

Have Development that is Balanced, High Quality & High Value

Decrease Homeowner Tax Burden

Establish ED program to react to requests

Franklin’s Economic Development Commission

Purpose: Promote & enhance the city

Pursue commercial & industrial development

Achieve a balanced tax base

Work on retention and expansion of businesses

Promote Franklin as an excellent place to live and do business

Monthly Discussion Topics: Ballpark Commons, Retail Recruitment, Vacant & developable land, Branding & Marketing, Room Taxes & Tourism

FRANKLIN’S STRENGTHS

Milwaukee-Chicago (South Suburban) is a “Growth Corridor”

Full Service Infrastructure Roads, sewer, water, public safety, etc.

Community of desire, Median HH income: $75,180

High quality living: Accessibility, schools, parks/trails, etc.

High value commercial: Franklin Business Park, NM & Wheaton

Active Development Market

FRANKLIN’S WEAKNESSES

Expectations out of line with existing market reality

Limited I-94 visibility

Lack of residential density and core focus area for retail

Comprehensive Plan & Design Standards (Are they a guide or a hurdle?)

Reputation: Challenging development process

Neighbor meetings, concept review & public hearings

Staff & regulatory review is extensive

Taxes/Impact Fees/Standards relative to peer communities

FRANKLIN’S THREATS

Interest Trend: Suburban → Urban Millennials & Boomers

Residential AND Office (manufacturing!)

Urban preferences PLACES (mixed-use centers & programmed activity hubs)

Connectivity (walking & biking)

Active Neighboring Communities Retail/mixed-use: Southridge, 84 South, Drexel Town Square, Ikea+ (Key: Access, visibility, traffic counts)

Business parks: Oak Creek, Caledonia, Mt. Pleasant, Sturtevant, etc.

Development is Cyclical

FRANKLIN’S OPPORTUNITIES

Activity Hubs = Franklin’s Goals

Hubs: Maximizes development value/acre, Improves efficiency of City services/infrastructure, Compatible with environmental preservation (big picture), Desirable for quality retail

Vacant & Developable Land

Area Plans Exist

There is Suburban Demand for Multi-family, Manufacturing/Industrial, Single Family Homes

Franklin Business & Industrial Parks

Industrial park is full

Business Park; 56 or 60 lots sold. Remaining lots <5 acres, back of park

FRANKLIN’S BRAND & MARKETING

Brand: Words, Images & Feelings associated with Franklin Community input

Defining what’s authentic vs aspirational

What can/should we attempt to manage?

Marketing: Delivering Franklin’s Brand Clarity & Consistency

Updated & New materials (logos, websites, signs, letterhead, forms, brochures, ads, etc.)

POSITIONING FRANKLIN

Create the environment for development: Physical, Regulatory, and Delivery of Services to Customers

Understand development trends

Consider market conditions in decision making

Evaluate trade-offs, risks & opportunity costs

Building relationships with the Businesses & Development Communities, Existing and Prospective

KEVIN NOTE: It appears Franklin is working hard on the economic development issue. Ballpark Commons is huge. Momentum can and should be built upon.

One thought on “UPDATE: What if Franklin had been invited?

  1. Pingback: My Most Popular Blogs (11/26/17) | This Just In… From Franklin, WI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s