2010—2011 Annual Report

2010—2011 Annual Report
for the
Denton Economic Development Partnership
TableContents
ABOUT US
The Partnership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2010 - 2011 Board Members. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
EXISTING BUSINESS
Business Retention. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Business Recrutiment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
BUSINESS LOCATION
Marketing and Outreach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
INVEST IN DENTON
Investor Relations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
DOWNTOWN DEVELOPMENT
Tax Increment Reinvestment Zone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Downtown Implementation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Rail Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Downtown Reinvestment Grant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Grants Awarded . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Downtown Business Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
8
8
8
8
9
SPECIAL PROJECTS
EPA Brownfield Grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Economic Indicators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Strategic Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
PROJECT UPDATES
Medical Developments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Rayzor Ranch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Schlumberger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Target Perishable Foods Distribution Center . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Unicorn Lake . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
2010 - 2011 Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10-11
CURRENT INCENTIVES
City . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Peerless Manufacturing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Golden Triangle Mall . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Return on Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
EDP BUDGET
2010-11Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
FY 2010—2011 Annual Report
1
AboutUs
THE PARTNERSHIP
The City of Denton and the Denton Chamber of Commerce established an economic development partnership in 1987. Although
this model for local economic development programs is not typical in Texas, it has been a strong and successful one in Denton.
The Chamber’s economic development staff leads the marketing and recruitment efforts, while the City’s team manages the
economic development programs, such as incentive negotiation, international relations, downtown development and project
facilitation. Both the Chamber and the City staff are involved in business retention activities.
In 2003, the Economic Development Partnership Board was created as a result of the new project-focused approach adopted
by the City Council. Goals and strategies were developed around four key areas: Downtown Development, Image & Marketing,
Business Parks, and the University of North Texas Discovery Park. In 2010, the City Council added Airport Branding and
Development to the charge of the Board.
Chamber of Commerce
Board of Directors
Denton City Council
President of the
Chamber of Commerce
City Manager
Vice President
Economic Development
Assistant City Manager
Economic Development
Coordinator
Director Economic
Development
Economic Development
Intern
Program Administrator
Business Development
Officer
Economic Development
Analyst
Economic Development
Marketing Specialist
2 Denton Economic Development Partnership Board
MEET THE 20102011
201011 BOARD MEMBERS
BOARD MEMBERS
MARTY RIVERS, CHAIR
Executive Vice President, First State Bank
Seat: Chamber of Commerce
Term: 09/2006—09/2012
Denny Aldridge
Cleve Breedlove
Mark Burroughs
VIRGIL STRANGE, VICE-CHAIR
Owner, Axiom Commercial
Seat: Chamber of Commerce
Term: 07/2009—09/2012
DENNY ALDRIDGE
General Manager, James Wood Auto Park
Seat: Top 20 Tax Payer
Term: 09/2006—09/2013
CLEVE BREEDLOVE
CEO, Access 1st Capital Bank
Seat: Aviation related advisor
Term: 05/2011—09/2012
Caleb O’Rear
Dalton Gregory
Lane Rawlins
MARK BURROUGHS
Mayor, City of Denton
Seat: City Council
Term: 08/2008—09/2012
DALTON GREGORY
Council Member
Seat: City Council
Term: 07/2009—09/2013
Marty Rivers
Carrell Ann Simmons
Virgil Strange
Vice - Chair
Chair
EXOFFICIO MEMBERS
CALEB O’REAR
CEO, Denton Regional Medical Center
Seat: Top 20 Tax Payer
Term: 07/2009—09/2013
LANE RAWLINS
President, University of North Texas
Seat: University of North Texas
Term: 07/2010—09/2012
CARRELL ANN SIMMONS
V. P./Denton Retail Mngr., Merdian Bank
Seat: Member at large
Term: 07/2011—09/2013
GEORGE CAMPBELL, EX-OFFICIO
City Manager, City of Denton
Chuck Carpenter
George Campbell
CHUCK CARPENTER, EX-OFFICIO
President, Denton Chamber of Commerce
FY 2010—2011 Annual Report
3
ExistingBusiness
BUSINESS RETENTION ACTIVITIES
An economic development program should never focus all
of its efforts on the recruitment of new businesses. Business
retention is equally critical to a community’s success. It is
important that the City and Chamber of Commerce continue
to communicate the value and importance of Denton’s existing
businesses.
Annual Business Recognition Breakfast
The City of Denton hosts an annual award breakfast each
year, inviting all City departments, universities, and colleges
to recognize businesses that have provided program support
or have reached a significant milestone. In 2011, the following
businesses were recognized:
North Central Texas College Small Business Development
Center recognized Andaman Thai Restaurant for enriching
Denton’s downtown economy.
TWU School of Management recognized ResillantIQ for
supporting the advancement of TWU Small Business
Institute initiatives.
Denton Airport recognized Jetworks Air Center for
advancing the stature and prosperity of Denton and the
Airport.
Denton Municipal Electric recognized Flowers Baking
Company for high operational efficiency and Philip Baker
and Rayzor Companies for their support of DME and
business development in the City of Denton and the CHP
Economic Development District.
City of Denton Risk Management recognized Denton
Regional Medical Center for outstanding and continued
support of City employee wellness initiatives.
City of Denton Parks & Recreation recognized Wood & Floor
Outlet and Firehouse 22 for their business integrity and
excellent customer service and support.
City of Denton Police recognized Walmart Store #467 for
consistent, vital and eager support of the department’s
4 Denton Economic Development Partnership Board
children and youth programs; and Ben E. Keith for their
consistently outstanding support.
City of Denton Transportation recognized Denton County
Transit Authority for advancement in transportation and
their downtown contribution.
Keep Denton Beautiful recognized Native Dave and
Sleepin-Dogs for leadership support of Keep Denton
Beautiful.
Downtown Task Force recognized The Industrial Street
Guild for investing in downtown’s future.
Economic Development Partnership Board recognized U.S.
Aviation Group for investment in aviation and partnerships
in education.
Small Business Workshops
Economic development staff partnered with the University
of North Texas, Denton Chamber of Commerce, and Denton’s
minority business chambers to host a Small Business Summit.
The purpose of the Summit was to provide small businesses
with excellent resources to support their stability and growth.
Attendees selected up to four one-hour topics best suited
to their interests from the following eight topics, which were
presented by highly acclaimed experts from the region.
Fusion Marketing/Social Networking
Marketing Without Money
Financial Stability for Small Businesses
Legal Safe Guards for Small Businesses
Human Resources for Small Businesses
Small Business Administration Loan Programs
Getting Government Contracts
Target Marketing
Anonymous surveys completed for each class were extremely
positive and indicated interest in more in-depth, individual
workshops on each topic area.
Business Visits
BUSINESS RECRUITMENT
Economic development staff called on 51 Denton
businesses in 2010/11. During these scheduled
visits, businesses shared their future plans and
discussed issues they were facing. In many
instances, economic development staff members
were able to help resolve problems, provide
needed resources and/or network the services of
other Denton businesses.
Aviation
Data/Call Center
Distribution
Energy
Hotel/Conf Center
Housing/Residential
Manufacturing
Office
Retail
Service
Technology
Business Research and Assistance
Company
Brokers
City of Denton
Chamber of Commerce
Developer
ED Website
ED Allies
1
11
0
3
0
0
58
Calendar Year
Month by Month Lead Activity
Number of Leads
Assistance in the form of research, resources
and development-related issues was provided
to over 100 companies in 2010-11. Economic
development serves as a point of contact for
businesses and acts as their advocate whenever
possible. Listed below are samples of the
assistance provided in 2010-11:
Technology transfer/commercialization
meetings
Historically Underutilized Business
certifications and pre-bid specifications
assistance.
State incentive submission
Business start-up plans
International expansion resources
Industry-specific subcontracting databases
Rezoning, inspections, and other site
assistance
Existing and future workforce needs
One-on-one training on Reference USA
software
Installation of a bike rack on City easement
Provided maps, demographics, etc.
Identified resources for services
Resolved issues regarding dumpsters, odor,
parking, signs, sidewalk uses, and noise
Business-to-business networking
University-to-business networking
Graffiti removal
Job referrals for employees of a closing
company
Architectural assistance for historic
properties
Assistance in becoming a vendor for the City
of Denton
Addressed code violations
A-train marketing
Space for events
4
6
2
3
0
0
48
6
1
0
3
40
30
2008
20
2009
10
2010
2011
0
Business Recruitment Activity
Photos on previous page, clockwise (L–R): Meeting held at
Business Air; Meeting attendees finish tour of jet plane; Mayor
Burroughs, Julie Glover, and Downtown Task Force award
recipients Industrial Street Guild; Mayor Burroughs, Quentin
Hix and Airport award recipients Jetworks Air Center; and
Mayor Burroughs, Marty Rivers and EDP Board award recipients
U.S. Aviation Group.
FY 2010—2011 Annual Report
5
BusinessLocation
MARKETING AND OUTREACH ACTIVITIES
In 2010-11, Denton Economic Development participated in the North Texas Commercial Association of
following marketing and outreach activities:
Realtors (NTCAR), Dallas, TX
Site Location Consultants (SLC)
For the last several years, Denton Economic Development
Denton Chamber Economic Development staff participated
in one-on-one meetings with site location consultants (SLC)
of major, national real estate companies through membership
in TexasOne, a program sponsored by the Governor’s Office of
Economic Development and Tourism. The locations of these
events included Chicago, New York, and Los Angeles, and in the
future will include New York and international destinations as
well. Denton gained insight on the type of site and community
information SLC’s require as well as the process used by SLC’s
when finding that perfection location for their client. As a
result, the Denton Economic Development Partnership web site
has been improved to provide up-to-date, accurate information
that is easily accessible.
Society of Automotive Engineers (SAE),
Detroit, MI
The Society of Automotive Engineers holds its annual trade
show and conference in Detroit every spring. This trade show
is the hallmark event for the automotive engineering industry,
attracting attendees from companies involved in every phase
of automotive engineering and production. For the past
several years, the Governor’s Office of Economic Development
and Tourism has sponsored a booth at this event, highlighting
Denton’s Peterbilt Motors Company. A Peterbilt engineer was
present to offer insight on their display, which focused on the
company’s hybrid and alternative fuel engines. In addition to
the prominent positioning of a Denton business in the trade
show, Economic Development staff was able to meet with
other automotive industry companies, developing several leads
for future locations.
National Business Aviation Association
(NBAA), Atlanta, GA
The NBAA Annual Meeting and Convention represents the
most productive and efficient opportunity to conduct business
in the aviation industry. Key operators and industry leaders
meet at this event to make buying decisions and set the
stage for business aviation activity for the coming year. Over
25,000 business aviation professionals attend the convention
and trade show. This is a natural marketing opportunity for
Denton, as aviation has been identified as one of our target
industries. Representatives from the Denton Airport (DTO) as
well as many businesses located at Denton’s airport display at
NBAA. Networking at NBAA has enabled Denton to develop
relationships with many companies and learn from other
attendees the trends in the field.
Partnership has exhibited at NTCAR, the premier event which
brings together commercial realtors from across the Metroplex
and the North Texas region. NTCAR provides opportunities to
maintain contacts with commercial brokers, as well as garner
new relationships. Many times staff has been able to provide
information on specific properties to fit realtors’ projects.
Staff also learned of new projects and trends in commercial
development. This event is attended by both Chamber and
City staff of the Economic Development Partnership.
International Asset Management Council
(IAMC), Albuquerque, NM
The IAMC is the leading association of industrial asset
management and corporate real estate executives, their
suppliers and service providers, and economic developers.
The members of IAMC are a veritable Who’s Who of Corporate
Real Estate. The group meets twice each year at professional
forums that provide quality networking opportunities and
in-depth programs. The atmosphere is very professional, lowkey and collegial, with none of the trade show trappings that
characterize many other conventions. Attendance at IAMC
allows Denton Chamber staff to meet one-on-one with these
corporate leaders to learn of their needs and the factors that
impact their relocation and expansion decisions. Information
learned from IAMC meetings has been incorporated into the
Denton EDP web site to better serve those involved in the site
selection process.
Advanced Research Projects Agency (ARPA)
Energy Innovation Summit on Alternative
Energy, Washington, DC
Green and alternative energy is a target industry in our
economic development marketing efforts. Many of the
presenters and attendees at the ARPA Energy Innovation
Summit represented companies that have developed
technologies that produce energy from alternative sources.
Several are Department of Energy Grant winners and are in
search of incubator space to further develop their innovations
and make them ready for market. Chamber ED staff teamed
with Harold Strong, UNT Discovery Park Director, to promote
the resources Discovery Park has to offer in their incubator
program, as well as the benefits a Denton location offers in
creating a successful business.
Denton County Days
Chamber Economic Development joined an esteemed group
of community leaders to visit with elected officials in Austin.
These visits allow Denton to discuss concerns and to provide
legislators with current information on Denton issues and
activities.
6 Denton Economic Development Partnership Board
InvestDenton
ECONOMIC DEVELOPMENT INVESTOR RELATIONS
The Economic Development Investors is a group of individuals
and companies who have made a financial investment in
Denton’s economic development.
Investor Site Visits
Each year Chamber Economic Development staff meets with
the investors. During the summer of 2011, fourteen visits
were made. The purpose of the visits was to provide one-onone updates on the activities of the Economic Development
Partnership. This year’s visits focused on the economic health of
the businesses in the area. Staff learned that Denton followed
the national economy with 2009 being a tough year all around.
In 2010, businesses reported gradual improvements and the
trend continued in 2011 as well. This is a strong indication
that Denton and North Texas is climbing out of the economic
downturn.
Investor Receptions
June 16, 2011
Dr. Terry Clower, Director of the Center for Economic
Development and Research, University of North Texas.
Dr. Clower gave an update on the 2011 Economic and
Demographic Projections report, first commissioned in 2008.
August 29, 2011
W. Stephen Love, President/CEO of the DFW Hospital Council.
Mr. Love gave a presentation focusing on the economic
impact of the healthcare industry on the DFW Metroplex, and
specifically, on Denton.
November 7, 2011
Carson Landsgard, Group Director Food Supply Chain, Target
Corp.
Mr. Landsgard gave a presentation on Target’s process of
identifying needs and selecting a final site for the company to
open a new facility in Denton.
The investor receptions provide an opportunity for investors
to network with other investors and meet with new Denton
businesses. There were three investor receptions in 2011:
The following companies were Chairman’s Circle level Economic Development Investors during FY 2010-11
FY 2010/11 ECONOMIC DEVELOPMENT INVESTORS
Cardiovascular Specialists
Chairman’s Circle
First State Bank
University of North Texas
VERUS Real Estate Advisors
Corporate Investors
Denton Regional Medical Center
Denton Record Chronicle
Scott Brown Commercial
Northstar Bank
Martino Group
First United Bank
Rayzor Company
Wells Fargo
Galatyn Park Corp
Partnership
Acme Brick
Adams Exterminating
Alphagraphics
Axis Realty
C & G Electric
Denton Country Club
Eagle & Wheeler
Fremaux’s Metropolitan Catering
Hillwood Alliance
James Wood Auto Park
Josten’s
Meridian Bank
Morrison Milling
North Central Texas College
NuconSteel
Peterbilt/PACAAR Co.
Teague Nall & Perkins
Texas Health Presbyterian Denton
Texas Oncology Denton
Texas Woman’s University
United Way
US Aviation Group
Business Entrepreneur
Access 1st Capital Bank
Adami and Associates
Axiom Commercial
Euline Brock
Carol’s Custom Draperies
Denton County Transit Authority
Denton Public Library
Extreme Cuisine
Hankins, Powers, Eastup, Deaton, Tonn,
& Seay
Hutcherson Insurance
Jerry Mohlenitzky Insurance &
Investments
Pete Kamp
Mar Properties
Mason Properties
McNatt Realty
PointBank
Ramey & King Insurance
Raymond James Financial
Sawko & Burroughs
Thomas’ Ethan Allen
Vanderlaan Real Estate
The Wildwood Inn
Yorlum Realty
FY 2010—2011 Annual Report
7
DowntownDevelopment
DOWNTOWN
Tax Increment Reinvestment Zone
Rail Service
In December of 2010, City Council approved a Tax Increment
Reinvestment Zone (TIRZ #1) for Downtown. A TIRZ is a
district created by the City in an area where development or
redevelopment is encouraged. A baseline year is established
(2010 for Denton’s TIRZ #1) and as the property valuation
increases over the life of the TIRZ, the increase, or incremental
growth in property tax revenues, is captured and set aside for
public improvements within the district. Property tax revenues
for the valuation established in the base year continue to go
into the City’s General Fund. Projects to be funded by TIRZ #1
dollars include improvements to streets, sidewalks, and utility/
drainage infrastructure; construction of parking surfaces and
garages; and participation in transit oriented development
and other significant economic development projects. TIRZ
#1 will end in 30 years or when the fund reaches $24.8 million,
whichever occurs first. In 2011, the first year of TIRZ #1, an
increment of approximately $16,000 was captured, which was
slightly higher than anticipated.
In June, the Denton County Transportation Authority (DCTA)
began offering commuter rail service, the A-Train, between
downtown Denton and Carrollton. The Dallas Area Rapid
Transit (DART) system connects to DCTA at the Hebron Station
in Carrollton so commuters can easily get to their metroplex
designations without increasing vehicular traffic or adding
to air pollution. In the first few months of operation, DCTA
ridership exceeded expectations. DCTA continues to add to
their schedules, including night and weekend runs.
Downtown Implementation Plan
Grants Awarded FY 2010-2011
It has long been recognized that Downtown is the heart of the
City and is a focal point for commerce and entertainment. In
2002, the City Council adopted the Denton Downtown Master
Plan, whose primary focus is to encourage development and
exploration of partnership opportunities with private investors,
while ensuring that proper design practices are employed. In
2010, the City Council adopted the Downtown Implementation
Plan (DTIP), which builds on the City’s previous work and sets
the course to accomplish the goals of the Downtown Master
Plan.
DTIP projects completed include improvements to E. Hickory
Street - the micro sealing and the creation of angled parking,
adding ten spaces to the area. Another 24 new parking spaces
were added when the City’s Williams Square parking lot was
restriped. Additional improvements to E. Hickory Street, from
Bell Avenue to Railroad, began as well. Federal grant funds are
being used to add sidewalks so that pedestrians can easily walk
from the Downtown Transit Station to downtown.
8 Denton Economic Development Partnership Board
Downtown Reinvestment Grant Program
The City Council continues to support the redevelopment
of downtown through its Downtown Reinvestment Grant.
In 2010-11 grants were limited to $50,000 each and were
awarded to businesses and property owners who constructed,
renovated structures and/or improved the infrastructure of
downtown. Grants awarded in 2010-11 included:
113 E. Hickory (Love Shack Burgers)
603 N. Locust (Congress Center)
315 S. Locust (King Apartments)
311 E. Hickory (Hickory Street Lofts)
207 N. Bell
(Hoochie’s Oyster Bar, two grants)
217 E. Hickory
(Mellow Mushroom, two grants)
207 N. Elm (Ed Canada)
111 N. Elm (Cartwright’s Ranch House)
Totals
Grant $
$10,000
$7,000
$15,000
$6,500
$6,500
Project $
$300,000
$1,200,000
$1,500,000
$2,500,000
$71,500
$22,235
$1,000,000
$10,000
$5,700
$82,935
$160,000
$40,000
$6,771,500
Return on investment (City $ : Private $)
$1: $82
Photos, clockwise (L–R): The Love Shack Burgers; Hickory Street Lofts; Mellow
Mushroom Pizza Bakers; Hoochie’s; and Cartwright’s Ranch House
SpecialProjects
Downtown Business Growth
Downtown welcomed the following new
businesses during the 2010-11 fiscal year:
Denton Community Theatre’s (DCT) PointBank
Black Box Theatre—The Black Box Theatre
provides rehearsal space, a home for the DCT
Theatre School, costume storage, performance
space and rental to other groups. Configured as
a “black box” inside, seating can be arranged in
a number of ways. (318 E. Hickory St.)
Howe Unique—Howe Unique, a store operated
by several members of the Howe family,
opened in November 2010 and carries a wide
variety of items, including home décor, goat
milk soaps, baby toys and clothing. (221 W. Oak
St.)
Weinberger’s Deli—A franchise of the 1952
Chicago deli, Weinberger’s Denton store
opened in February, 2011. This is the third
Texas Weinberger’s and Downtown’s first
authentic delicatessen. (311 E. Hickory St.)
Hickory Street Lounge—Downtown’s first
smoke free bar opened a few days before the
35 Music Conferette in March of 2011. They
feature a full drink menu and some food items.
(212 E. Hickory St.)
Mad World Records—This music store also
opened in conjunction with 2011 35 Music
Conferette. The store has new music as well as
resale items, including old turntables and Atari
games. (115 W. Hickory St.)
Love Shack Burgers—Iron Chef Winner, Tim
Love, opened The Love Shack in his hometown
in April. This Denton location, his third in
the metroplex, is famous for the lean cuts of
meat used to make the burgers. Love Shack is
known for their Urban Western cuisine. (113 E.
Hickory St.)
Campus Barbers—Formerly located in the “Fry
Street” area near the University of North Texas,
this 50 year old business made the transition
to downtown in early April. Long time owner,
Gene Hartman, still cuts hair, but his partner,
Jeremy Carroll is the new business owner. (311
E. Hickory St., Ste. 120)
Nole’s General Store—Formerly located at the
corner of McKinney and Austin Streets, this
unique gift shop moved to East Hickory in the
summer of 2011. The store sells everything
from greeting cards to gourmet food items.
(315 E. Hickory St.)
BROWNFIELD
GRANTS
Close-out of 2009
Environmental Protection
Agency (EPA) Brownfield
Clean-up Grant
The City was awarded an EPA
Brownfield Clean-up Grant in
the amount of $68,000 for the
Transit Park site located at 121
Exposition Street. The site is
situated approximately one half
mile from the Downtown Square
and is an integral component of the
downtown transit station, existing
municipal complex and overall
transportation-oriented downtown
development. The project involved
building demolition, asbestos
abatement, additional sampling and
the application of Tier 2 Protective
Concentration Limits (PCL) to
complete the necessary closure
requirements through the Texas
Commission on Environmental
Quality’s (TCEQ) Voluntary Clean-up
Program (VCP). The City received
the Certificate of Completion from
the state’s VCP in November 2011.
2012 EPA Brownfield
Assessment Grant
Application Submitted
The Brownfield Assessment grant
request expands the downtown
redevelopment program by
providing a funding mechanism to
conduct environmental assessments
and creating redevelopment
guidance materials to facilitate the
revitalization of Denton’s Downtown
Implementation Plan (DTIP) target
area.
application was submitted in
November of 2011 and EPA
anticipates awarding grants in the
spring of 2012.
Economic Indicators
Report
The Denton Economic Indicators
Report was created in order to
establish a baseline of information
and provide a method to
benchmark and track the economic
progress and growth of the City. The
information gathered in this report
will also be used to determine
the need, available data, and the
frequency of future Economic
Indicator reports. The metrics that
are utilized for this report were
recommended by TIP Strategies, an
economic development consulting
firm responsible for creating the City
of Denton’s Economic Development
Strategic Plan. The data collected
can also be utilized to gauge the
success of some of the City of
Denton’s programs related to the
economic health of the community.
Strategic Plan
The City of Denton adopted a
strategic plan in 2010-11. Each
department was encouraged to
design their strategic plan to align
with the City’s overall program.
Economic development staff
completed their draft document
and anticipate a completed
strategic plan soon.
The program goal is to complete
up to 20 Phase I Environmental
Site Assessments (ESAs) and up to
three Phase II ESAs for hazardous
substances. The federal grant
request is for $200,000. The
FY 2010—2011 Annual Report
9
ProjectUpdate
PROJECTS
Medical Developments
Denton is a medical destination for North Texas and Southern
Oklahoma. Strong medical-related new construction has
occurred for the past several years. Ten new healthcare offices
and facilities broke ground or opened their doors for business,
adding an estimated $14 million in valuation to the tax rolls
and over 120,000 square feet of medical resources to citizens
in our region. Growth in the number of Denton’s new medical
professionals was equally impressive as 87 new physicians
and dentists began practicing in Denton. Over 50 nurse
practitioners, physical therapists, and occupational therapists
were added as well. The Denton Medical Destination program
web site, DentonMD.org, serves to advance this growth
industry in Denton and to convey our position that the right
care is right here in Denton. The web site links citizens to an
array of stellar medical professionals utilizing state-of-the-art
technology in performing the most advanced procedures and
to Denton’s wealth of specialized treatment facilities.
Hospitals 6
Specialized healthcare facilities 87
Medical-related/support businesses 117
Rayzor Ranch
Rayzor Ranch Marketplace officially kicked off in October 2010
with the grand openings of Walmart and Sam’s Club. The fiscal
year ended with a total of 370,000 square feet of commercial
and retail space completed and another 30,000 square feet
under construction. Marketplace businesses include:
Chick-Fil-A
Dr. Cecile Nguyen, DDS
Deluxe Nails
Panda Express
First State Bank
Sam’s Club
First United Bank
Supercuts
Freebirds World Burrito
T Mobile
Gamestop
Walmart Supercenter
H&R Block
Whataburger
Mattress Giant
Which Wich
New stores to open in the near future include Mooyah’s
Burger, Ville Grande Mexican Restaurant, AT&T, HCA Urgent
Care, TMC (Health Food), Sport Clips, Starbuck’s and more.
Kohl’s department store began working with the planning
and engineering departments in 2011 and plans to begin
construction 2012.
Target Perishable Foods Distribution Center
Target Corporation started construction of their 400,000 square
foot perishable foods distribution center in 2011. The company
estimates the center will be up and running late 2012/early
2013. The facility will provide refrigerated and frozen foods
to all of the Texas Target stores and stores located in parts of
four other states. Target representatives presented information
regarding their fully-automated building to the Economic
Development Investors at a quarterly reception in November
2011. They indicated they would employ approximately 115 in
Denton.
Schlumberger
Schlumberger, a Fortune 500 oil and gas service company,
purchased a 152,000 square feet building and additional land
in the Granite Point Business Park. The facility is the second of
four new regional maintenance facilities for Schlumberger.
Unicorn Lake
Two new restaurants opened in 2010-11 in Unicorn Lake –
Chuy’s and Bella Pizzeria. Chuy’s reports the Denton store is
one of their most successful. Foundation Management Services
(FMS) held their official grand opening of their 45,000 square
foot headquarters and training center. The event coincided
with the annual business recognition breakfast, hosted by FMS.
Founded in 1995, FMS provides outstanding resources and
comprehensive training for hospice and home care agencies.
Yogurt Story
20102011 AWARDS
The Texas Downtown Association
The “Best Promotional Event” award was presented to 35
Denton in November 2010. The “Best Promotional Event” award
recognizes excellence in creation and execution of downtown
or commercial district promotional events, including festivals.
Judges indicated that the event was geared towards a wide
audience and was a great opportunity for musicians and local
businesses.
10 Denton Economic Development Partnership Board
Texas Economic Development Council (TEDC)
Certificate of Achievement for Economic Excellence –2010
This program has the following objectives:
Provide recognition to ED agencies that meet a desired
threshold of professionalism
Encourage professional staff membership and
involvement in TEDC
Encourage agency Board member attendance at TEDC
training opportunities
Continue to underscore TEDC as the pre-eminent
organization advocating professional economic
development in Texas CurrentIncentives
AVAILABLE INCENTIVES
The City of Denton offers a full range of incentives for new
and expanding businesses. Go to DentonEDP.com and select
“Business Location” to find detailed information about the
following policies:
City
Tax Abatement
Chapter 380 Grants
Triple Freeport Exemption
Denton Municipal Electric Economic Growth Rider
Water/Wastewater Infrastructure Assistance Policy
Industrial Revenue Bonds
State
Texas Enterprise Fund
Emerging Technology Program
Texas Enterprise Zone Program
Skills Development Fund
In-State Tuition for Employees
Pollution Control Property Tax Exemption
Texas Manufacturing Assistance Center
Golden Triangle Mall
Golden Triangle Mall was purchased by the Herring Group and
the Weitzman Group in 2011. The two major retail companies
will be making major renovations to the mall to include: the
addition of restaurants and stores; improving the building
façade; creating a food court; and improving the parking lot
and landscaping. A Chapter 380 grant was awarded as an
incentive for the renovations to the 1980 mall. The joint venture
will invest a minimum of $45 million in the development by
October 2014 to qualify for the incentive. Work has begun and
a grand reopening is expected in 2012.
Return on Investment
The return on investment summary for all incentives is
provided in the table below. Results indicate that since 1999,
the City of Denton has awarded $4,138,778 in tax incentives,
and in return, has benefited from a net increase in property and
sales tax revenues of $14,557,401.
Total All Types of Incentives
Peerless Manufacturing
Cumulative Property Valuation
Peerless Manufacturing selected Denton to expand and
consolidate some of their Texas operations. The company
designs, engineers and manufactures highly specialized
filtration, separation equipment, industrial silencers, heat
exchangers, and air pollution reduction systems to energy
industry customers involved in gas and oil production,
petrochemical processing, and power generating. They plan
to build an 80,000 square foot manufacturing facility. The
valuation of the proposed project is estimated at $16 million.
Peerless received a three-year 40% tax abatement from the City
of Denton for the new facility.
Cumulative Property Tax Generated
International Economic Development Council
Neighborhood Development Initiatives – 2011 Honorable
Mention
Downtown Reimbursement Grant
This award recognizes programs that stimulate economic
development on a neighborhood scale. It includes the
range of strategies or initiatives that seek to facilitate the
revitalization or redevelopment of distressed or devastated
neighborhoods including business-oriented, people-oriented,
place oriented, and community-building efforts.
$1,637,256,287
Cumulative Sales Tax Generated
$10,515,843
$8,180,336
Less Incentives
$4,138,778
New Sales and Property Tax Revenue
$14,557,401
Return on Investment Percentage
352%
New Jobs Created
3,095
Special Purpose Brochure – 2011 Honorable Mention
Denton Airport Available Properties Brochure
A brochure designed for a specific purpose, such as promoting
an industrial park or other specific types of promotions.
FY 2010—2011 Annual Report 11
EDPBudget
COMBINED BUDGETS
CHAMBER OF COMMERCE AND CITY
ECONOMIC DEVELOPMENT
FY 2010-11
REVENUES
City of Denton General Fund
City of Denton Utility Fund
Marketing Fund/Prev Balance
Private Investment
Interest Income
TOTAL REVENUES
EXPENDITURES
Salaries & Benefits
Office Supplies
Operations1
2
Programs
Miscellaneous
SUB TOTAL EXPENDITURES
Downtown & Sign Grants
Chamber of Commerce
Chapter 380 Incentives
TOTAL EXPENDITURES
CHAMBER OF COMMERCE
PRIVATE
PUBLIC
TOTAL
6,000
6,000
156,800
156,800
47,400
47,400
103,000
103,000
500
500
103,500
210,200
313,700
CITY
2,549,293
TOTAL
2,549,293
2,555,293
156,800
47,400
103,000
500
2,862,993
143,590
2,500
143,590
2,500
497,800
8,585
641,390
11,085
15,210
29,300
44,510
70,802
115,312
88,290
34,810
103,500
210,200
123,100
313,700
103,500
210,200
313,700
20,750
7,500
605,437
53,500
6,000
1,884,356
2,549,293
143,850
7,500
919,137
53,500
6,000
1,884,356
2,862,993
Note:
1
- "Operations" includes: Rent, technology, professional development, printing
2
- "Programs" includes: Marketing, small business development, international
12 Denton Economic Development Partnership Board
Today, the compass points to North Texas,
for a wealth of cultural and enlightened
population, and a business-friendly
environment that welcomes your company
and your people. If you’re interested in
growing your business in an extraordinary
city that is growing too,
Denton is your true north.
Denton Ecomonic Development
Denton Chamber of Commerce
414 Parkway, P.O. Box 1719
Denton, TX 76202-1719
(940) 382-7151
www.DentonEDP.com
www.DentonSites.com
Economic Development Department
City of Denton
215 E McKinney St.
Denton, TX 76201
(940) 349-7776
www.DentonEDP.com
www.cityofdenton.com
This document is available on-line. Please
visit www.DentonEDP.com, select News and
Reports, then Annual Report. For hard copies,
please contact the City of Denton Economic
Development Department.
Published 04/2012 by the Economic Development Department
ADA/EOE/ADEA, TDD: (800) 735-2989, www.cityofdenton.com