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HomeMy WebLinkAbout03/06/2018 04Bi Choose Yakima Valley 2017 Year-End ReviewBUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDASTATEMENT 1 Item No. B.i. For Meeting of: March 6, 2018 ITEM TITLE: Choose Yakima Valley2017 year-end review SUBMITTED BY: CaIly Price, Administrative Assistant to the City Manager SUMMARY EXPLANATION: Jonathan Smith, Executive Director of Choose Yakima Valley, presenting. ITEM BUDGETED: STRATEGIC PRIORITY: APPROVED FOR SUBMITTAL: STAFF RECOMMENDATION: BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description D YCDA PP O pro west D wa \ision D valley brew Upload Date 228/2018 2`282018 2'2&'2018 2282018 Type Coker Memo Coker Memo Coyer Memo Coyer Memo New and Retained Businesses & Jobs PRO WEST MECHANICAL, INC. Metal Fabrication and Manufacturing, Serving Yakima Since 2003 lit Challenge Pro West was growing rapidly but was unable to accommodate their growth due to lack of space. They were considering locating outside the state. "We couldn't grow our client base because we didn't have the room to work on their projects." Brandon Bushbaum Head of Business Acquisitions - Pro West Mechanical, Inc. Goal Acti To find a new YCDA location that could and se accommodate future Iocatic growth and keep the in plac company local. tax inc NATIONAL CENTER FOR ECONOMIC GARDENING" SUPPORTING ENTRFPRFNFt'RIAL GROWTH Case study: Washington Vision Therapy Center Dr. Benjamin IP/inters founded IVasbingtan Vision Therapy Center (WVTC) in 2010 to treat a tarief . of conditions such as amblyopia (lay. Vie), strabismus (wandering eye) and vision difficult . caused bj traumatic brain injuries. The Yakima -based company;. uhicb generates more than S1 million in annual revenue, entered Wasbington i stateuide Economic Gardening program in Jule 2016, looking for bele uitb expansion efforts. Below IVintere discusses bow the engagement helped bin, open a new clinic and create seven 'mullahs: Yakima County Development Association Economic Impact Total Jobs: 157 These jobs: • support 124 households & 381 people • Provide annual payroll of $28,059,974 • And annual household spending of $22,693,823 IYakima County Development Association I li Trade Shows and Business Recruitment Leads e n Wa We bring a lot to the (dinner) table. Yakima County Development Association AlRecent Site Visits & Property Searches SERITAGE GROWTH PROPERTIES 2304 E. NOB HILL BLVD., YAKIMA, WA CBRE 4.9 - 10.5 Acres w/ ready access b industrial waste water line Yakima County Development Association Yakima Manufacturers IYakima County Development Association I PRO WEST MECHANICAL, INC. Metal Fabrication and Manufacturing, Serving Yakima Since 2003 Gt • • Challenge Pro West was growing rapidly but was unable to accommodate their growth due to lack of space. They were considering locating outside the state. "We couldn't grow our client base because we didn't have the room to work on their projects." Brandon Bushbaum Head of Business Acquisitions — Pro West Mechanical, Inc. 1116 Goal Tofindanew location that could accommodate future growth and keep the company local. 1111 New location, 5x larger than CIED previous location Results $150,000 grant from the Governors Strategic Reserve Fund $140,000 of tax incentives identified _ i Increased capacity by I� 60,000 square feet Action YCDA helped find and secure a new location, put grants in place, and sourced tax incentives. Economic Impact • $28.5 Million total economic impact • 116 Jobs directly and indirectly supported • $6 Million of annual payroll Community Impact • 283 People and 92 Households in the local community • "YCDA was instrumental. I didn't know how to go about doing what they've done for us. Amazing, amazing asset." CHOOSE Yakima \COUNTY DEVELOPMENTASSOCIATI VALLEY Jason Moore Owner - Pro West Mechanical, Inc. • FIND OUT HOW WE CAN HELP IMIIIM YOUR BUSINESS. Jean Brown, Director of Business Development 10 N 9th Street, Yakima 1 (509) 575-1140 1 ChooseYakimaValley.com 8 NATIONAL CENTER FOR ECONOMIC GARDENING® SUPPORTING ENTREPRENEURIAL GROWTH Case study: Washington Vision Therapy Center Dr. Benjamin U inters founded1Fashington Vision Therapy Center (tVVTC) in 2010 to treat a variety of conditions such as ambyopia (lag! eye, strabismus (wandering eye and vision difficulty caused by traumatic brain injuries. The Yakima -based company, which generates more than S9 million in annual revenue, entered 1Fashington's statewide Economic Gardening program in July 2016, looking for help with expansion efforts. Below U inters discusses how the engagement helped him open a new clinic and create seven new jobs: "The Economic Gardening program was perfect timing for us," said Winters. "The researchers were able to come in and provide information to help us make some critical decisions." When WVTC entered the Economic Gardening program, Winters had two clinics operating and was considering various models for expansion. "Vision therapy is like physical therapy for the eyes to help children and adults with problems that affect their school, work and athletic performance," Winters explained. "Many optometrists coming out of school would like to practice vision therapy, but aren't comfortable opening their own clinic because they lack business acumen. And though a franchise might seem like a good option, doctors typically associate franchises with a loss of control." Dr. Benjamin Winters, founder of Washington Vision Therapy Center, with a young patient. With that in mind, Winters wanted to develop a model that allows doctors to have ownership in a parent company and benefit from operational and administration efficiencies, but still operate independently. To help with this framework, Economic Gardening specialists on the National Strategic Research Team (NSRT) identified and evaluated healthcare -related franchise agreements in which doctors own a portion of the business, with a focus on contractual and incentive aspects. Other key deliverables included: • Providing information to help with WVTC's strategic growth plan. • Evaluating the company's digital marketing efforts and providing new ideas for connecting with potential patients and optometrists who might be interested in opening visual therapy clinics. Co�w�vto�dar,z�.-P 9 Case study: Washington Vision Therapy Center • Identifying a list of prospective geographic markets in Washington, northern Idaho and western Oregon by leveraging geographic information system (GIS) tools. The latter was especially important, as Winters had been eyeing the Spokane market for a third clinic. "The researchers not only confirmed that Spokane would be a solid market, but they were also able to determine what specific neighborhood would be best," Winters said. "Because Washington Vision provides specialized vision care, we were able to take advantage of demographic data that a general optometrist or medical office may not consider," said Clay Smithers, a GIS expert and NSRT member who worked on the project. Smithers looked at not only consumer spending characteristics throughout the state, but also Tapestry Segmentation data, which defines 67 unique personas based on demographic, socioeconomic and behavioral data. "By looking at Washington Vision's current customer list, we were able to highlight relevant Tapestry Segments and then find other markets where those households are common," Smithers explained. As a result, Winters opened the Spokane clinic in March 2017. Between the new clinic and expansion at the two existing locations, WVTC created seven new jobs, increasing full-time equivalent employee numbers from 17.5 to 24.5. "Economic Gardening really opened my eyes to the types of services and analysis I need at this stage of my business," Winters said. "GIS analysis wasn't even something I would have thought of before, but will continue to need as we move forward." "Economic Gardening helps you take a 10,000 -foot view of your company," he added. "When you're caught in the daily grind of things, it's hard to step back, but it's something you need to do consistently. "I was also extremely impressed with the Economic Gardening process, the researchers' professionalism, and how invested they were in my success. I hope this program is available to more businesses my size. It's definitely something that will help the economic growth of our state." NATIONAL CENTER FOR ECONOMIC GARDENING The National Center for Economic Gardening is a partnership between the Edward Lowe Foundation and Chris Gibbons. NCEG helps state and regional organizations establish Economic Gardening networks, delivers Economic Gardening services and maintains national standards in training and certification.To learn more, visit www.edwardlowe.org. Copyright © 2017 by the Edward Lowe Foundation http://www.yakimaherald.com/news/business/local/yakima-valley-brewing-co-open s-its-taproom/article_d5682f6a-de42-11 e7-a09b-773aba21 aa71. html Yakima Valley Brewing Co. opens its taproom By Mai Hoang maihoang@yakimaherald.com Dec 10, 2017 The city of Yakima is seeking funding from a Yakima County fund to pay for a line that would bring water and sewer service to properties along River Road, including Valley Brewing. The brewery is in operation, but has to outsource water and hire a company to pump wastewater out. (Photo courtesy of Valley Brewing) 10 Beer from Yakima's Valley Brewing Co. has been available for several months at various area restaurants, including Yakima Steak Co. and Mickey's Pub. The brewery also has participated in a few events, such as the Fresh Hop Ale Festival. But now Valley Brewing Co. has opened its taproom to the public — officially over the weekend — at 3215 River Road, said co-owner Korey Shroyer. The brewery's taproom hours are 4 to 9 p.m. Thursday and Friday, noon to 9 p.m. Saturday and noon to 7 p.m. Sunday. The business hit a snag in completing the project this fall when owners found they needed a waterline to connect the brewery to a main water source. The brewery got help from the city of Yakima, which was able to secure a grant and loan to help finance construction of the waterline, which also would enable new development for several neighboring parcels. The cost of the project was nearly $154,000.