The Rochester Advantage - State of the City 2013
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The document discusses Rochester, NH's economic development strategies and successes. It outlines their "Rochester Advantage" which includes people, growth, location, commitment, amenities, value, and potential. It then lists strategic goals for economic development like implementing a Route 11 corridor plan, acquiring business parks, becoming a Main Street community, and expanding education/training opportunities. Key metrics for measuring progress are provided. The document highlights Rochester's employment and business growth as well as demographic stats. It advocates for continued investment in downtown and collaboration with the Chamber of Commerce.
The Rochester Advantage - State of the City 2013
- 1. The Rochester Advantage Leading the New Hampshire Recovery State of the City March 5, 2013
- 2. What is the Rochester Advantage? People Growth Location Commitment Amenities Value Potential
- 3. Leading Indicators Strategic Goals Relevant Measures Implement the Citys Route 11 Corridor Plan MS-1, Business Starts, Building Permits, TIF Plan, Announcements Acquire and Expand Business Parks TIF Plan, Public Infrastructure, Land Sales Become a Main Street Community Main Street Stats Reinforce Business Retention & Expansion Program # Firms Visited, Referrals, Expansions & Assistance Expand Economic Development Capacity # Staff & Volunteers, Training, Materials, Communication Improve the Citys Development Review Process Completed Apps, PB Meetings to Approval, Variances, Complaints Stimulate Additional Education & Training Opportunities Facilities & Students Enrolled, Educational Attainment
- 4. Leading Indicators Strategic Goals Relevant Measures Reposition Underperforming Properties MS-1, Building Permits, ERZ Zones, TIF Zones, Sales Create a TIF District to Fund Infrastructure Investment TIF Zones, Public vs. Private Investment Position the City as the Regions Foremost Entrepreneurial City Resources for Start-Ups, # Startups, # of Small Biz Positively Impact the Image of City Government and Schools Branding Initiative, Unification of Message Invest in Downtown Neighborhood Improvements Public Investment by Ward or Zone Maximize Impact of Spaulding Turnpike Expansion MS-1, Building Permits, Variances, Sales Collaborate with Chamber of Commerce Joint Ventures or Projects
- 5. Opportunities for the Future Strategic Goals Relevant Measures Master Plan for Skyhaven Airport Use of Airport, Use for or by Biz, Land Values & Rents Master Plan for Rochester Fairgrounds Use of Fairgrounds, # Visitors, Crime Reports, Land Values & Rents Downtown Building Owners Association % of Local Ownership, Participation in Main Street Events, Investment Comprehensive Tax Base Analysis N/A Point to underperforming areas & opportunities Update Downtown Master Plan Ten Years with Much Success, Ready for More Evaluate Downtown Traffic & Wayfinding Traffic Counts, Foot Traffic, Downtown Survey, Visitors to DT Expand & Improve Public Transit Ridership & Distance to a Transit Location
- 6. Employment Growth NH Employment Security Rochester-Dover MetroNECTA
- 8. Earnings & Per Capita Income $27,902 Median Earnings Male full-time $47,483 Median Earnings Female full-time $36,507 Families with SNAP (last 12 months) 10.1% Women owned firms 30.1% Firms in Rochester 2,325 Small Business 99%
- 9. Family Incomes Mean Family Income $77,001 Median Family Income $64,375
- 11. Housing Housing Units 13,372 Ownership 70.4% Persons Per Household 2.39
- 12. Market Advice What advice would you have for a Rochester home buyer @ this point, as will home prices also be increasing due to new aviation business coming soon? Asked byLinda, Somersworth, NHJan 13, 2013 I don't think we are going to see any immediate surge in home prices however I do think this is an excellent time to buy. Prices are at the low end of the curve at the same time as interest rates, creating a great opportunity for home buyers. I think we will see home prices begin to increase at a normal or modest rate over the next few years along with the expanding economic recovery. The pent up demand created by slow sales of the past several years may cause some area increases that are faster than others. Either way 2013 should be a great year to invest in Rochester and your future Tim Fontneau, Agent, Rochester, NH
- 16. Arts & Economic Prosperity
- 17. Downtown Business District Reinvestment Stats The Rochester Main Street Program volunteers work constantly to make Downtown a destination for entertainment, shopping & dining. Increased Occupancy rates on North Main St. & Hanson Street Overall 5% increase since 2006 Total of 222 businesses currently in the Downtown Business District Total of 391 Projects since 2006 Total Private Investment of $5,240,049 Investment Ratio: $1/$29.94 Annual Tax Revenue Increase: $125,183.60 Brown Bag Concert Series Returning on Fridays Raised more than $43,000 in donations & grants for Parson Main & Central Square
- 18. Can We Compete? Technology Changes Software Mobility Social Media Mission & Results Directed Team & Network Driven Accountable for Results New Staff Changing Roles Customer Service! Adapt to changing budgets and expectations