Stafford County Overview. October 16, 2014

Transcription

1 Stafford County Overview October 16, 2014

2 Accessibility 25 miles south of Washington Capital Beltway 50 miles north of Richmond, VA Within 1 day drive of ½ of the nation s population Located along I-95 with 4 interstate interchanges Source: Stafford County Department of Economic Development 2

3 Accessibility Major airports of Dulles, Reagan National, Baltimore Washington International, and Richmond are as close as 45 minutes Stafford Regional Airport serves as a general aviation airport, and a reliever to Reagan National and Dulles airports. East Coast s primary North-South passenger rail line bisects Stafford Virginia Railway Express (VRE) provides commuter service to Washington DC VRE s Fredericksburg Line serves an approximately 2.5 million riders annually Two station stops in Stafford Source: Stafford County Department of Economic Development 3

4 3.0% Population Growth Stafford s current population is 134,352 and since 2008 Stafford County s average annual population growth has been 1.6%. 2.5% 2.0% 1.5% 1.6% 1.5% 1.0% 1.0% 0.7% 0.5% Stafford Washington-Arlington-Alexandria, DC-VA-MD-WV MSA Virginia National Source: US Census Bureau Population Estimates 4

5 Residential Growth New Construction New Residential Building Permits Issued Embrey Mills 1,800+ Celebrate Virginia 800+ Westlake 700+ Stafford Lakes 400+ Hills of Aquia Rappahannock Landing 150+ Whitson Woods 55 Westgate Q2014 Townhomes * 16 Multi Family Single Family Total *included in Single Family Homes Proposed : George Washington Village - 2,500 unit mixed use Sherwood Forest 1,100 acres 5

6 Low Unemployment Rate 10.0% Stafford County s unemployment rates have been consistently below the national, regional and Commonwealth levels over the past 5 years. 9.0% 8.0% 7.0% 7.1% 6.0% 5.2% 5.0% 4.0% 5.2% 4.4% 3.0% 2.0% Mar-13 Stafford National Virginia Washington-Arlington-Alexandria, DC-VA-MD-WV MSA Source: LAUS Unit and Bureau of Labor Statistics Data not Seasonally adjusted 6

7 Median Household Income According to the 2012 American Community Survey, Stafford is the 13 th wealthiest county in the Nation with a Median HHI of $96,141 and is ranks 5th in the region for median family income. Median Family Income Stafford County $108,392 Fairfax County $124,831 Howard County $125,152 Loudoun County $127,192 Arlington County $137,216 Over $3.2 Billion of disposable income Stafford s Median Household Income has consistently outperformed the Washington D.C. MSA, Virginia and the United States 7

8 Growing At-Place Employment 41,000 40,000 39,675 39,000 38,000 37, % 38,207 3,8% 37,000 4,7% 36,000 35,595 35,000 34,853 2,1% 34,000 33,000 32,

9 Economic Development Proactive Approaches to Economic Development in Stafford Economic Development 10 Point Plan Opened Stafford Technology and Research Center Five new hotels have opened since 2008 and two are under construction 3,000 jobs in the new 700,000 sq. ft. Russell-Knox Building on Quantico Retail Attraction Data Center Pursuit More than 425,000 square feet of new commercial space has been or will be completed in 2013 and

10 Stafford County: Commitment to Growth $1 Billion in New Infrastructure I-95 Express Lanes open December 2014 I-95/ Route 630: New $150 million interchange at Courthouse/Hospital Redevelopment Area US Route 1 Widening at Telegraph Road Boswells Corner US Route 17 Widening at I-95 Southern Gateway New Lake Mooney Reservoir completed and filling to 5 billion gallons Dark Fiber Link from Ashburn to Stafford Excess capacity for Commonwealth Cyber Highway County Investment in Stafford County Technology & Research Park land parcel Stafford County Regional Airport New Terminal and Future Expansion 10

11 Economic Development 10-Point Plan The 10-Point plan focuses on the following significant economic development priorities: Development of a One Stop Permit Center (accomplished) Reduction of business regulation and taxes (BPOL, aircraft, boat, machinery and tools taxes eliminated) Creation of a better business climate in the County (New Permitting Center, Hansen 8 Software, pursuit and repeal of business stifling regulations) The effects of the plan s implementation are already apparent, and include the following: Business revenue up! 5th in Virginia in job growth over the past 5 years 11

12 Diverse Employment Base Other Services (except Public Administration) 4.32% Public Administration 14.14% Agriculture, Forestry, Fishing and Hunting 0.04% Construction 7.08% Manufacturing 2.18% Wholesale Trade 4.89% Accommodation and Food Services 10.22% Retail Trade 13.44% Transportation and Warehousing 2.84% Arts, Entertainment, and Recreation 2.04% Health Care and Social Assistance 9.33% Professional, Scientific, and Technical Servi 8.70% Information 1.07% Real Estate and Rental and Leasing 0.96% Source: Labor Market Statistics, Covered Employment and Wages Program Educational Services 14.74% Management of Companies and Enterprises 0.26% Administrative and Support and Waste Manageme 3.75% 12

13 Hospitality Hospitality and Tourism 5 new hotels since new rooms since new restaurants over past 5 years Tourism Over 250,000 visitors to special events and attractions annually George Washington's Boyhood Home at Ferry Farm NPS Fredericksburg & Spotsylvania National Battlefield Park HQ at Chatham Manor Wineries, Golf, Marinas 13

14 Marine Corps Base Quantico Law Enforcement Capital of the World Base extends over portions of 3 localities, including approximately 25 square miles in Stafford More than 30 permanent business tenants on Base including: Marine Corps University Marine Corps Systems Command Marine Corps Helicopter Squadron Drug Enforcement Administration Navy Criminal Investigative Service (NCIS) Joint Non-Lethal Weapons Directorate Marine Corps Network Operations $300 million, 700,000 SF Military Investigative HQ Facility that houses new BRAC employees Economic Impact of Quantico Military Base BRAC Expansion on Stafford County Direct Ripple Effect Total Impact Employment 18,530 27,960 49,490 Spending (Billions) $1.7 $4.2 $5.9 Source: Stafford County Department of Economic Development Authority 2010 Annual Report and Marine Corps Base Quantico Business Performance Office, Economic Impact Analysis,

15 Law Enforcement Capital of the World The FBI continues to be a major contributor to the regional economy The FBI has leased an additional 250,000 square feet in Stafford since 2008 and are now located in at least 7 different leased locations off Quantico in the community With 2,500 employees in Stafford on and off Quantico, Stafford has arguably the highest concentration of FBI employees in the world outside of the J. Edgar Hoover Building in Washington 15

16 Stafford s Defense Technology Community 16

17 Dark Fiber expands from Ashburn. Silver Cos. and SummitIG partner to deliver new bandwidth The dark fiber will provide virtually unlimited connectivity to tenants at QCC. Our unique offering between passes through the heart of Stafford County and presents an opportunity to empower and support the growth of companies located within the region, Bill Cook, CEO of SummitIG. The infrastructure is being designed to support other strategic facilities nearby, including an adjacent tract of land recently purchased by Stafford County for the development of a technology and research park initiative. 17

18 DoD Budget (in billions) At-Place Employment DoD Funding Reductions Federal Procurement Outlays declined 8.4% between FY 2010 and FY 2012, and Federal employment has declined since peaking in July 2010, losing 8,700 jobs or 2.25%. However, Fredericksburg Regional DoD Budget Reductions have stabilized, remain so moving forward $1, ,000 $1, ,000 $1,200.0 $1,000.0 $800.0 $600.0 $ ,000 36,000 35,000 34,000 $ ,000 $- 32,000 DoD Budget At-Place Employment Source: Stephen S. Fuller, Ph.D.; Dwight Schar Faculty Chair and University Professor Director, Center for Regional Analysis; George Mason University 18

19 Planning for the Future

20 Planning for the Future The County adopts the Marine Corps Base Quantico Joint Land Use Study (JLUS) in June Joint pursuit of federal investment opportunities to mitigate the negative effects of Sequestration - Strengthen relationships between the County and Quantico by working to prevent land-use conflict Diversify the County s economy with a stronger focus on retail attraction Pursuit of workforce development providers to build a more diverse workforce into the future The EDA incentivized Germanna Community College to open both an academic center and an automotive training center Germanna is pursuing a new campus in the Courthouse Redevelopment Area University of Maryland University College, George Mason University, and University of Mary Washington opened new locations in Stafford 20

21 Stafford Technology and Research Center Center opened on September 6, 2012 Coordination with Association of University Research Parks (AURP) continues Conducive to technology-oriented business growth New Strategic Plan in progress Educational opportunities at University of Mary Washington, Germanna Community College, George Mason University, University of Maryland University College (UMUC) among others 21

22 Infrastructure HOT Lanes under construction, will connect express lanes from Stafford to Washington Beltway and opens in 2014 Numerous road projects are moving forward 22

23 Lake Mooney Reservoir Stafford dedicates largest public works project in its history Reservoir Creates Northern Virginia s Newest Lake 23

24 Data Center Initiative: The Selected Properties A safer, less congested, and less costly alternative Sites: Power, fiber and water are abundant and affordable 24

25 Retail Attraction Initiative The Riddle Company created new Retail Marketing & Attraction Study for Stafford County VA in 2012 New Retail focused brochure, demographic reports, and trade areas Outreach: Attendance at International Council of Shopping Centers (ICSC) events Media: Marketing Stafford as a strong consumer market to select retail chains Participation in site selection, developer, and retailer focused one-on-one meetings Results: Walgreens (2) CVS Panera Bread Goodyear Tire Merchant Tire Dunkin Donuts Town Aquia Chipotle Sonic Anytime Fitness (2) New announcements soon! 25

26 Redevelopment Boswell s Corner 26

27 Redevelopment Courthouse Area 27

28 Redevelopment Southern Gateway 28

29 Redevelopment - Falmouth Village 29

30 Fiscal Policies 30

31 Questions? For more information: gostaffordva.com Rick Cobert (540)