Agenda - 10-18-2007-3 - Laserfiche WebLink

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r aT ea, i ss. The most Il issue relative to the "site selection99 Process is hav ctURN 66 site." In fact, absent available improved, approved real estate for primary employers, a local economy will decline. Economic development is ultimately a real estate transaction. In order for an existing company to expand, a new employer to move to the area, or a start-up business to grow, each needs a place to do it. They need a building. If a vacant, modern facility is not standing ready to be occupied (usually there are not any suitable buildings available), a structure needs to be constructed. This means land must be ready. All of the other geographic issues, such as transportation access, utilities, labor availability, or taxes are not considered if a place, to operate the business cannot be provided. A local economy will indeed decline if land is not available. Existing primary employers, when they need to expand, will have to leave the area causing a loss of money flowing into the economy. Additionally, new, high -wage companies cannot come to the community as there is not a place to build a modern facility. Spin -off businesses coming out of the incubator will have to grow in another town. There are examples of economic decline caused by the absence of improved, approved real estate throughout the United States. The term "improved, approved" has been used continuously. What does it mean? "Improved" real estate has the entire horizontal infrastructure in place. The roadways leading to the property, electric service, sewer and water lines are "to the site." Essentially, the property is "building- ready" and there will not be any site preparation delays. Just as important, the land needs to be "approved" by the local government. All planning and zoning issues need to have been resolved in advance. How of bough - Page; 33 - Version August 20, 2007