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
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
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
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
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.)
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.