Expert Analysis Backed by Experience
Ted Figura Consulting currently offers assistance in the preparation of Annual Reports and Enterprise Zone assessments required by the Virginia Department of Housing and Community Development. Ted Figura also will assist in Virginia Enterprise Zone program design and preparation of designation applications (when competitive designations are available), amendment applications for communities with an existing Virginia Enterprise Zone and program implementation--(ordinance and funding agreement pre-legal drafting, policy and procedures development, application and certification form creation).
As with incentive
structuring, Ted Figura takes a needs-based and
client-centered approach to program development. Ted
Figura Consulting will help you define your objectives and
then craft the right program to meet those objectives.
Comprehensive
Assessment – Ted Figura will use his 30 years of
experience in economic development to assess your
community’s economic development program. Particular
attention will be paid to:
- existence of realistic objectives and expectations
- existence of target industries that match your community’s assets and competitive advantages
- market positioning that identifies an appropriate unique selling proposition
- incentives and other economic development programs appropriately aligned with economic development objectives and target industries
- business attraction readiness
- business retention program and incentives
- collateral materials
- website
- staffing, governance, strategic alliances
Marketing/Business
Attraction – Ted Figura Consulting can provide
direction and content for your community’s marketing and
business attraction program. Ted Figura Consulting can
help you identify your community’s unique selling
proposition—the basis for any successful marketing
approach. From there, Ted Figura Consulting can help
develop a meaningful brand message—no generic “We’re open
for business!” platitudes.
, can develop a
unique set of target industries for your community and
identify its competitive advantage for these industries. Target industries
will be selected based on a SWOT approach applied to local
economic and labor force data.
This approach will pay particular attention to
identifying unique community assets that would be attractive
to particular industries.
Ted Figura Consulting will work with your community’s creative agent or web designer to provide content for collateral marketing materials including an economic development website. Ted Figura Consulting will provide concept design, researched data and copywriting services. [Ted Figura Consulting does not provide graphic design or web designer services.]
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Business Retention –
Ted Figura Consulting will help you design a more effective
business retention program for your community. More
than 80% of all jobs and investment growth come from your
community’s existing businesses. We all know that this
is where you really need to pay attention. But so
often, business retention winds up receiving only “left
over” resources.
Ted Figura Consulting will
examine your community’s resource capabilities and recommend
a business retention program that will maximize your scarce
resources.
Services include:
- business visitation program targeting
- business visitation interview design
- structuring incentives for existing businesses and
- developing a comprehensive business retention approach.
Virginia Enterprise
Zones – Ted Figura is a leading expert on Virginia
Enterprise Zones. Ted Figura Consulting provides the
following services for Virginia Enterprise Zone communities
and those communities seeking a Virginia Enterprise Zone
designation:
- Preparation of an application for designation of a Virginia Enterprise Zone to include:
- boundary recommendations
- local incentive recommendations
- strategic economic development restructuring recommendation and
- drafting of all narrative portions of the application.
Preparation of
required maps will normally be the responsibility of the
locality’s staff but, if the
locality lacks sufficient GIS expertise, Ted Figura
Consulting will engage Resource Data, Inc.
to
prepare these maps.
The next round for Virginia
Enterprise Zone designations is anticipated to be in
mid-2012.
- Preparation of an application for a Virginia Enterprise Zone boundary and/or local incentive amendment.
Localities with multiple
Zones may wish to begin now to adjust their Zone boundaries
in preparation for 2015, when the restriction on the number
of allowable Virginia Enterprise Zones will make it
extremely difficult, if not impossible, for expiring Zones
to achieve “redesignation.” One “strategy for
survival” may be to pare down a locality’s newest Enterprise
Zone so that critical parts of expiring Zones can be added
to the remaining Enterprise Zone through a boundary
amendment. Localities are limited to reducing
Zone size by 15% of its current acreage, annually, so
multiple boundary adjustments may be required to implement
this strategy.
- Pre-legal drafting of implementing ordinances and/or funding agreements for local Enterprise Zone incentives and other follow-on tasks
Technology
Zones – If your community does not have a Virginia
Enterprise Zone, or if it desires to offer local incentives
outside of its Enterprise Zone, you may wish to create a
Technology Zone. Ted Figura Consulting can help you
design a Technology Zone that achieves your economic
development objectives. A Technology Zone can be as
broadly or narrowly defined as suits your purposes.
Ted Figura Consulting can:
- help establish Technology Zone boundaries
- develop Technology Zone incentives, including meaningful eligibility criteria and
- draft an implementing local ordinance and, if required, a funding agreement with your economic development authority to implement your Technology Zone program.
Commercial
Revitalization – Take your community beyond the
Main Street Program concept. Ted Figura Consulting
will examine your commercial area revitalization needs and
your community’s existing programs and recommend appropriate
public investment and local incentive strategies to
reinvigorate declining areas in your community. Ted
Figura Consulting will do a realistic assessment of the
target area’s development potential and barriers to
development. Ted Figura Consulting will then recommend
a program to overcome those barriers and maximize
development potential. A sample of the tools that Ted
Figura Consulting can recommend and develop include:
- business and property investment loan programs
- commercial and residential rehabilitation property tax abatement program restructuring
- creative and targeted investment grant incentives, including incentives for in-fill development
- business improvement districts
- supportive zoning and development regulation reforms and
- strategic public investments.
Ted Figura Consulting has
a strategic partnership with N-Focus Planning to
provide zoning, development regulation and land use planning
services.
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