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Res 079-2017 6/6/2017Resolution No. 79-2017 Resolution approving the programs and expenditures of the Wichita Falls Economic Development Corporation (WFEDC) and amending the budget to include up to $91,750 to Market Street Services, Inc. as partial costs associated with development of a Comprehensive Economic Development Strategy WHEREAS, Texas Local Gov't. Code § 501.073(a) provides "The corporation's authorizing unit will approve all programs and expenditures of a corporation and annually review any financial statements of the corporation"; and, WHEREAS, on May 18, 2017, the WFEDC approved the Project listed below and as stated in its agenda. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: 1. The Wichita Falls Economic Development Corporation's approval and funding of the following programs and expenditures as described below and in said corporation's agenda, are approved: Professional services provided by Market Street Services in the amount of $91,750 as partial funding for development of a comprehensive economic development strategy. 2. The current fiscal year budget of the WFEDC is amended to provide for the aforementioned expenditures and changes thereto. PASSED AND APPROVED this the 6th day of June, 2017. ATTEST: -:: � City Wrk CONTRACT for PROFESSIONAL SERVICES for The CITY OF WICHITA FALLS, TEXAS This CONTRACT made and entered into this _ day of by and between the City of Wichita Falls (hereinafter referred to as the CLIENT) with offices located in Wichita Falls, Texas and Market Street Services, Inc. (hereinafter referred to as MARKET STREET) located in Atlanta, Georgia. MARKET STREET has been selected to assist the CLIENT by preparing an Economic Development Strategy through completing the specifications herein under SCOPE OF SERVICES. MARKET STREET has represented to the CLIENT that it is qualified and experienced to provide such professional consultation and the CLIENT has relied upon such representations. In consideration of the mutual promises and covenants contained herein, it is agreed by and between the CLIENT and MARKET STREET that: ARTICLE I SCOPE OF SERVICES The Scope of Services is outlined below and is detailed in MARKET STREET'S proposal dated May 9, 2017. The Economic Development Strategy will include completion of each of the following deliverables: R1 Phase 1: Project Initiation and Stakeholder Engagement Q Phase 2: Regional Assessment and Scorecards Q Phase 3: Target Sector Analysis and Marketing Review Q Phase 4: Wichita Falls Economic Development Strategy Q Phase 5: Implementation Plan ARTICLE 11 PROJECT MANAGEMENT The CLIENT shall designate a manager for this contract to be the designated representative and shall have the day-to-day responsibility of coordinating work performed by MARKET STREET under this CONTRACT. Unless otherwise directed, all correspondence will be directed to that designated representative. The CLIENT shall be responsible for coordinating stakeholder input within the community, using invitational materials provided by MARKET STREET. ARTICLE III MARKET STREET MANAGEMENT MARKET STREET will identify a Project Manager for the work performed under this CONTRACT. MARKET STREET shall bring to the various tasks to be performed herein under SCOPE OF SERVICES the person or persons with the necessary level of expertise for the functions required. The final management responsibility on behalf of MARKET STREET shall rest with the CEO, J. Mac Holladay. ARTICLE IV REVIEW OF WORK The CLIENT will work closely with MARKET STREET in the development of the work products created under this CONTRACT. The CLIENT will have access to those work products at all times upon notification to MARKET STREET of the desire to review those work products. MARKET STREET retains the responsibility for the integrity of all work products. ARTICLE V COMPENSATION AND PAYMENT It is agreed that the compensation hereinafter specified includes both direct and indirect costs chargeable to the project under generally acceptable accounting principles and not prohibited by the Laws of the state of Georgia and Texas. It is understood and agreed that the consulting fees for the project as outlined are $170,000.00. In addition, actual expenses will be billed as they are incurred. Expenses are due upon receipt of invoice and are not expected to exceed $13,500.00. All invoices not paid within 30 days will be assessed a late fee of five percent on any outstanding balance. MARKET STREET reserves the right to suspend project work, including the completion of deliverable products, should any invoice remain unpaid for 60 days or more. Compensation will be made in accordance with the following schedule: Payment 1 Due upon contract signing ................................................... $10,000.00 Payment 2 Due on first of July, 2017...................................................... $15,000.00 Payment 3 Due on first of August, 2017................................................. $15,000.00 Payment 4 Due on first of September, 2017........................................... $15,000.00 Payment 5 Due on first of October, 2017............................................... $15,000.00 Payment 6 Due on first of November, 2017............................................ $15,000.00 Payment 7 Due on first of December, 2017............................................ $15,000.00 Payment 8 Due on first of January, 2018............................................... $15,000.00 Payment 9 Due on first of February, 2018.............................................. $15,000.00 Payment 10 Due on first of March, 2018.................................................. $15,000.00 Payment 11 Due on first of April, 2018..................................................... $10,000.00 Payment 12 Due upon completion of Implementation Assessment .......... $15,000.00 TOTAL..................................................................................................... $170,000.00 ARTICLE VI TERM The term of this CONTRACT is from the date of execution until all deliverables and the scope of work under this CONTRACT are completed, which is anticipated to occur by April 30, 2018, with the exception of the Year One Implementation Assessment, which will be completed between May and August, 2019. Either party may terminate this contract at any time with a 30-day written notice. ARTICLE VII SUBCONTRACTING AND ASSIGNMENT MARKET STREET represents that it has, or will secure at its own expense, all personnel required in performing the services under this CONTRACT. Such personnel shall not be employees of or have any contractual relationship with the CLIENT. All services required hereunder shall be performed by MARKET STREET or under its supervision and all personnel engaged in the work shall be fully qualified and shall be authorized or permitted under Federal, State and Local law to perform such services. None of the work or services covered by this CONTRACT shall be subcontracted without the prior written approval of the CLIENT. Any work or services subcontracted hereunder shall be specified by written contract or agreement and shall be subject to each provision of this CONTRACT. MARKET STREET shall not assign any interest in this CONTRACT and shall not transfer any interest in the same, whether by assignment or otherwise, without the prior written consent of the CLIENT; provided, however, that claims for money due to MARKET STREET from the CLIENT under this CONTRACT may be assigned to a bank, trust company, or other financial institution without such approval. Written notice of any such assignment or transfer shall be furnished promptly to the CLIENT. ARTICLE VI11 CONFIDENTIALITY All reports, information, data, etc., prepared or assembled by MARKET STREET under this CONTRACT are confidential and MARKET STREET agrees that they shall not be made available to any individual or organization without the prior written approval of the CLIENT. No document, report, photograph, chart, drawing, illustration, map, or other written or graphic material produced in whole or in part under this CONTRACT shall be the subject of an application for copyright by or on behalf of MARKET STREET or any of its subsidiaries, affiliates, directors, officers, agents or employees. ARTICLE X NONDISCRIMINATION During the performance of this CONTRACT, MARKET STREET shall not discriminate against any employee or applicant for employment because of race, religion, sex, color, or national origin. MARKET STREET will further fully comply with all provisions of the Civil Rights Act of 1964, as amended, the Age Discrimination Act of 1975, as amended, Executive Order 11246, as amended, and each and every other federal and state employment law, and regulations and orders issued pursuant thereto, to the extent the same are applicable to its performance hereunder. ARTICLE XI MISCELLANEOUS The CLIENT may, from time to time, request changes in the Scope of the Services of MARKET STREET to be performed hereunder. Such changes shall be incorporated in written amendments to this CONTRACT. This CONTRACT contains the entire agreement between the parties with respect to the subject matter hereof. It may not be changed orally, but by amendment in writing and signed by the parties hereto. All prior agreements or understandings with regard to the subject matter herein are hereby canceled and superseded by this CONTRACT. IN WITNESS WHEREOF, the parties hereto have executed this CONTRACT on this, the day of Market Street Services, Inc. Signature J. Mac Holladay Chief Executive Officer The City of Wichita Falls Signature Darron Leiker City Manager WICHITA FALLS ECONOMIC DEVELOPMENTCORPORATION AGENDA 18 May 2017 ITEM/SUBJECT: Comprehensive Economic Development Plan INITIATED BY: President Dick Bundy and Henry Florsheim ATTACHED: Wichita Falls, TX ED Strategy Proposal 5.9.17.pdf COMMENTARY: Recently the City Council urged the 4A,and 4B Boards to work together to develop a comprehensive economic; development strategy for Wichita Falls. Chamber CEOr Henry Florsheim initiated the process; researching over 20 firms who help communities develop such strategies. He spoke with nine of them over the phone, and selected the top four who were the best fit for Wichita Falls. Follow-up calls were made to those four by Dick Bundy Darron Leiker, Tony;Fidelie (President of 4B) and Florsheim. The group selected the top two firms and requested proposals from each. After reviewing the proposals, the group unanimously selected Mac Holladay and his firm Market Street Services. Mac is an elder statesman in the economic' development world, and has worked in 34 states and nearly 170 communities;., He's provided planning services to cities such as Austin, Tulsa, Nashville and Atlanta The proposal calls for a 10-month process that begins with the formation of a steering committee. The committee will meet seven times during the process;; and will consist of 25-30 leaders from throughout the community. The project will be split into six phases: Project initiation and stakeholder engagement; a regional assessment and development of scorecards; target sector analysis and marketing review; development of the strategy; implementation plan and a one-year implementation assessment. CONCLUSION: "The group of Bundy, Leiker, Fidelie and Florsheim recommend that the 4A and 4B Boards contract with Market Street Services for a comprehensive economic development strategy, and that the two Boards split the cost 50150'. TABLE OF CONTENTS Overview 1 Scope of Work . .. ,...... . ......... . ......... . ... ,.,,2 Phase 1 Project Initiation and Stakeholder Engagement ::.... .. .. ... ... .. ...: .. .........A Phase 2::Regional Assessment and Scorecards.. .. .:- .. .. ..-,...... .. ......5 Phase 3 TargetSector Analysis and Marketing Review:::. . .. .. ... ......7 Phase4 Wichita Falls Economic Development ;Strategy „ . .,..... ............. ... ... ...... .... ...,....,10 Phase 5:Implementation Plan .......... .. .. ... ...... .. .. ....... .. ...11 Project Timeline . .. .. ...13 Firm and Team Experience ....................... .. 14 ProjectTeam ......... .,....... ........ ...,,,,., . ..... ........ ......... . ....... .......15 J. Mac Holladay, CCE, PLED, LM, HLM . ., ........ .. ,,... ...... 16 Matt Tarleton ......... .. ..::::.... ..::.. . .. .. ........ ....:.. .. ...17 Alex Pearlstein ......: <:::. ... :::. .... ....... 17 Matt DeVeau ......... ........ ...... Ranada Robinson:. ........18 CostEstimate. .. ....... ........ ........................................................................................................... 19 Conclusion....., .....:. .. ....... :. ........ .. ....20 lzroposa[ Wid)ita FAK Teyos Ronomic DoteopmentStrategy Recently, public and private sector leadership in Wichita Falls have committed the community to pursuing collaborative economic development strategic planning and an enhanced program. Such an effort would begin to connect the dots between the various community and economic development partners and their efforts in a more cohesive way, making it easier for Wichita Falls leaders to see more of a return on their investments. A complementary downtown strategic planning effort is also a high priority and is underway. A Steering Committee of 11 members has been announced to oversee the work, The Wichita Falls Chamber of Commerce & Industry (the Chamber) has initiated conversations with our firm which have resulted in the development of a scope of work to guide an economic development strategy process There is already a strong foundation of organizations in place and involving all of the Chamber's partners will be important. As outlined on the following pages, the Steering Committee for this effort will need to engage the key partners, including the City of Wichita Falls, Wichita County, Downtown Proud, Wichita Falls Convention and Visitors Bureau, Wichita Falls Multi -Purpose Event Center, 4A Wichita Falls Economic Development Corporation, and 4B Sales Tax Corporation. As noted in Choose Wichita Falls materials, the workforce is;a community's greatest strength, and; we couldn't" agree more. Our team has spent two decades advising communities and regions about the holistic nature of this work, and we believe that the key issues of community and economic development are talent and quality` of place Building a great workforce begins with early childhood education, continues through all levels of education, and requires a great place to live for everyone. There is always more to do: to maintain a strong community,building great places is a lifetimes'work. Although Wichita Falls is facing various challenges including stagnant population growth, overall job loss during the most recent five year period, and a lower percentage of adults with a ;college degree than the state and nation, the region has many assets and opportunities, including low cost of living, Midwestern State University and Sheppard Air Force Base, and the building momentum around: downtown redevelopment. Market Street is well positioned to assist Wichita Falls' leaders in moving this effort forward, having facilitated wide variety of strategic planning processes for communities of all sizes and needs, including recent: and repeat work in Texas communities such as Austin, Pearland, and San Marcos. The process outlined on the following pages would consist of seven Steering Committee meetings over the course of ten months. A"Year One Implementation Assessment" component has also been included to ensure that all implementation partners are provided with an objective assessment of progress at the end of the critical first year of efforts. The proposal has been specifically tailored to address Wichita Falls' opportunities, challenges, and community dynamics and to provide the Wichita Falls region with clear direction and a measurable plan for 'success. IAT Pige..7.. May 201 . izroposai: Wid)ita Fall Teyos Ronomic DoteopmentStrategy SCOPE OF WORK The; following scope of work outlines the five' -phase process that will result in a distinctive Economic' Development Strategy for the; Wichita Falls region.A draft project timeline has been provided on page 13. Steering Committee Assembling a, strong; inclusive Steering Committee is the first and most important step in this process. We suggest that the Steering Committee meet seven times throughout the process, convening on average every 4-6 weeks. The first gathering of the group will be held approximately six weeks into the process and will provide an opportunity for Wichita Falls leaders to meet the Market Street team, gain a thorough understanding of the process and their role, and participate in an interactive discussion about the area's strengths, challenges,; and emerging opportunities. The Steering Committee should represent the Wichita Falls Chamber's volunteer leadership as well as partners from throughout the Wichita Falls region The Steering Committee will review research and input; findings, consider the advice ;and best practices that our team provides, and make key decisions about strategic direction and implementation that will lead to the creation of the Strategy and Implementation Plan, This group will be encouraged to gain a'full understanding of current and ongoing efforts that are relevant to the strategy process Market Street's philosophy is that the Steering Committee is the key to success for every process we facilitate. The group should be carefully and thoughtfully developed. It should be empowered by the Wichita Falls Chamber to craft the Strategy and lead both the planning process and the long-term implementation process The individual players are very important, and the dynamics within the room during every meeting also have a significant impact on the process. Market Street recommendsthat the Steering Committee consist of 25-30 leaders, including two or three individuals who would be asked to serve as chairs for this process Our team can provide specific suggestions for potential participants during the project planning period, and anticipate' that there will be several members of the Chamber board and other investors that will be asked to serve on the Steering Committee. In terms of the characteristics and responsibilities of the Steering Committee, it should be noted that in our experience, the most effective Steering Committees are those that do the following: Work together in building consensus as a group and with the community as a whole. It is important that Committee members put the needs of the Wichita Falls region ahead of personal and business; interests and keep the"big picture" in focus. Serving on the Steering Committee means committing, to being an active proponent of the process and being prepared to assist with implementation as needed. Invest the time necessary to make recommendations as needed regarding key decisions throughout the process, based on reviews of information provided. Committee members will need to attend seven or eight two-hour meetings and be able to review materials' beforehand It is also IA"3 Pracie:a May 201 proposai: Wid)ita Fall Teyos Ronomic Devebpnient Strategy important that Committee members share knowledge of the regions strengths and weaknesses with each other and with the Market Street team. • Suspend judgment and listen to other Steering Committee members' input and ultimately trust` the process. While much will be discussed in the meetings and potential ideas will continually be evaluated, all meetings, information exchanges, and recommendations should be treated as a work in progress until the Committee has developed the final Strategy and Implementation Plan. Throughout the process, the Steering Committee will be given ai platform to express ideas and opinions through various technologies, such as; Turning Point, a voting system employed during meetings, and post meeting online surveys. Phase 3 of the proposed strategic planning process is the Target Sector Analysis and MarketingReview, both very technical documents that are focused on specific ; recommendations for economic development staff. To ensure that the expertise and staff support required to pursue target and marketing recommendations are embedded in the process, we recommend that the Chamber convene a Technical Advisory Group that consists of key staff of the region'steconomic development: partner: organizations. The group will meet during the kick-off trip for an introduction of the process and should be one of the focus groups included in Phase 1. The group will meet again to discuss the draft Phase 3 deliverables: The importance of the Steering Committee throughout the process and the role of the Technical Advisory Group are illustrated in the following diagram. It should also be stated that the success of the process is directly correlated to the leadership that is provided by key staff members as well.`In addition to providing assistance with the coordination of meetings, input MARKETH Pige..3 May 201 . lrroposa[ Wid)ita FAK Teyos Ronomic Devebpnient Strategy sessions, and exchange of materials, our team will work with a locally identified primary point of contact throughout the process We anticipate that our Project Manager will speak with this person on a weekly basis at a minimum. Phase Project Initiation and Stakeholder Engagement Our teams first trip to the Wichita Falls region will include a familiarization tour of the area, led ideally by Chamber staff. The "fam tour" will give the Chamber the opportunity to present the<region's assets, facilities, amenities; and destinations to the Market Street team. This initial trip will ensure that the Market Street team experiences community dynamics that cannot be captured in interviews or data analysis. Planning for the community visit would begin immediately, with aconference call between Chamber staff and the Market Street team held in the first week of the process. This call will also provide an opportunity for the Chamber and Market Street staff to make a series of important preliminary decisions that will seethe' rest of the process in motion. Much of the logistical planning for stakeholder engagement and the development of the Steering Committee will begin at this time as well Some of the other project initiation tasks and discussion topics are anticipated to include the following items: • Internal project team/client communications process • Review of scope of work details and outcomes • Finalization of the project timeline> • Stakeholder engagement logistics populating interviews and focus groups • External project communications: promoting the online survey • Collection of existing reports, studies, and plans • Familiarization tour planning .Sterkehoider Engagement. Our team will work with community leaders to identify stakeholders from all corners of the Wichita Falls region to participate in the process Our' stakeholder input; methods include: Interviews and Focus Groups: We recommend that a two person Market Street team spend two days conducting interviews and focus groups Interviews typically run for about 60 minutes,; while focus groups run for about 90 minutes and can include 1520 participants. The interviews and focus groups would be conducted during the first trip. Online Survey: Our team will design a survey that will allow a larger selection of stakeholders to provide input to the process This survey will drill down to issues that are germane to the Wichita Falls region's key community concerns and will produce data that can be translated into actionable strategies Questions will be customized for each survey participant, and the survey will be open for approximately three weeks. MARKETH Pracie 4 May 9 201 Wid)ita Fall Teyos Ronomic DevebpnientSTmtegy ProjectWebsite: Our team recommends that a project website be developed to allow all stakeholders full access to the process and key deliverables once the Steering Committee has approved these' deliverables for public distribution. The project website also provides an ideal location for the survey` to be prominently promoted. The website will also allow stakeholders and the public at large to access information about the process itself and how it might be different from other recent or ongoing efforts; For an example of a previous Market Street project website, please see onespartanburg com; which was created for the Spartanburg; South Carolina Community and Economic Development Strategy process. The interview and focus group audiences could include a wide variety of "constituencies," including Chamber investors, civic leaders; major employers; young professionals, small business owners and entrepreneurs; education and workforce development partners; and the aforementioned Technical Advisory Group. Ultimately, the goal of Stakeholder Engagement isto;:ensure that the process is fully informed, beyond what the Steering Committee and Chamber leaders can tell us, and in addition to what the quantitative data reveals. Phase 2- Regional Assessment and Scorecards The; Regional Assessment will provide a detailed examination of the Wichita Fall region's competitiveness as a place to live, work, visit, and do business The Assessment will evaluate both quantitative and qualitative data as well as previous work and research conducted by or for the Wichita Falls Chamber and key partners. Our team will focus on building on findings that are well known, while also revealing previously unidentified issues and opportunities that need more tactical solutions. Rather than simply describing trends for a variety of data points, the Regional Assessment will synthesize a wide variety of findings to frame the discussion around the key "stories" and competitive issues facing the Wichita Fails region. This approach is intended to produce: a resource that does not simply identify issues and trends but uses them to determine strategic implications that will form the basis for the Economic Development Strategy. Review of Existing Research and Plans. Our team will review' relevant and recent research and plans, including but not limited to theCity's 20/20 Vision Plan and information pertaining toChooseWichita Falls. Our research will complement and update existing research and explore data indicators that help to add context or confirm issues that arise during stakeholder input sessions. Additionally, our team can coordinate information sharing with the downtown strategic planning team. Comparison Communities. Market Street will work the Chamber to identify three communities or regions; to compare the Wichita Falls, TX Metropolitan Statistical Area (MSA) against. These benchmark places will include locales that the Wichita falls region competes with forjobs, workers, and visitors as well as one or more "aspirational" communities that could represent the type of place that the Wichita Falls region hopes; MARKETH izroposal; Wichita Fall Teyos Ronomic Devebpnient Strategy to become in future years. The State of Texas will also be bench marked, and national figures will be included where relevant, .Storyline Approach. The Regional Assessment will provide a clear; unbiased analysis of both', advantages and challenges facing the Wichita Falls region. Ourteam will present this information in a manner that creates a strong narrative about the community and goes well beyond simply providing another research report. Our firms commitment to holistic economic development strategic planning ensures that the research will answer key questions about the Wichita Falls region's People, the community as a place, and economic structure issues that affect the community's ability to create lasting Prosperity. Key issues will be framed as "stories" that comprise chapters, in the Community Assessment. Examples of stories that comprised chapters; in Assessments completed for other clients include: Columbus, GA; • Population Trends Slow Growth and Limited In -Migration • A Critical Need for Top Talent • Fort Benning: A Vital Asset San Marcos, TX • Regional Reality. Opportunity and Issues • The Changing Employment Base • Positioning for a Positive Future Spartanburg County, SC • Low Educational Attainment and Signs of`a Growing Gap • Asignificant Need for Young Talent in a"Challenging Regional Environment • Entrepreneurship: Unrealized Potential Scorecards. Using both proprietaryand publicly available: data, our team will compare' the Wichita Falls MSA- to nine peer or aspirational regions. The scorecards provide a high impact, visual tool that Steering Committee members and the community -at -large can quickly appreciate, and they provide a valuable- complement to the storyline>narrative previously described. The scorecards can also serve as a basis for future updates for comparison purposes and to leverage for annual reporting. An example of a'scorecard provided for another client is provided on the following page for reference. We will work'closelywith Chamber staff to identify the most appropriate regions for the scorecard, using our time -tested and straightforward process. Our initial matrix will include approximately two dozen indicators to inform the selection, from population and economic mix to educational attainment and poverty rates. The one page Scorecards could be organized in a number of ways, including the example provided below Our team will work closely with project leadership to identify the most appropriate scorecard categories and specific indicators. Each scorecard will have a brief' narrative; describing the key outcomes of the comparison. Possible Scorecard Categories 1. Economic Performance — Employment, output, productivity, wages, income 2 Workforce Capacity —.Age composition; educational attainment, migration, higher education' 3 Innovation and Entrepreneurship Venture capital, patent activity, self-employment lAT Pig@G May 2017 PrOPOS i; Wid)ita FAK Teri, RonoQuic Devebpment Strategy 4 Business Environment -Infrastructure, business costs (utility rates, lease rates tax climate 5 Quality of Life and Place Commuting, cost of living, health outcomes, amenities, crime Indicators and .IUSAs will beaustc m ized for the Wichita Falls region. TargetPhase I r Analysis and Marketing i TargetSector nalysis: Building on the qualitative and quantitative research conducted during Phases 1 and`2, our team will conduct: an in-depth examination of the economic opportunities that have the greatest potential to createjobs for existing and new residents, retain existing jobs, spur innovation, and raise levels of prosperity throughout the Wichita Falls region. Our team will be mindful of the region's current target'; industries as marketed on the Chamber's website (Aerospace Parts Suppliers and Refurbishment, Manufacturing and Advanced Manufacturing, and Data Centers). Our analysis will review these areas while also exploring our complete database of employment and data. IAA Pigc,7 May 2017 izroposat; Wid)ita Fall Teyos Ronomic DoteopmentStrategy Communities around the country have long sought to identify "targets" —sectors of the economy with the best; potential to drive growth. But in many cases, the methodologies that identify targets are incomplete and; focus strictly on industry or business sector data. Such approaches ignore a variety of important issues including workforce attributes, educational assets, geographic advantages, infrastructure, business climate, and so on— all of which are vital to businesses: Additionally, many communities have for decades exclusively associated economic development with business recruitment. While the recruitment of new companies is animportant component of any economic development program, it represents only one "leg of the stool" Any effort to nurture employment growth must also focus on the needs of existing businesses and entrepreneurs. Market Street's approach is rooted in these realities. The Target Sector Analysis will begin with a succinct evaluation of how the three county Wichita Falls regions workforce composition has; changed in the past 10 years. The evaluation will payparticular-attention to impending workforce shortages, changes in age composition, and a deeps analysis of population growth including migration patterns that can provide insight into the core issues impacting the region's economic and workforce sustainability.. Understanding these changes and their implications is a critical step toward identifying; opportunities for fob growth and wealth creation and any challenges or barriers that may exist: For each recommended target sector, we will provide the following: • Target sector profile:' The Profile will provide a summary of national trends and issues related to then sector and a brief overview of the state of the sector in the Wichita Falls region, including examples of relevant businesses currently operating in the community. Along, with business sector data at the county level, Market Street will provide broader national data to place the region's trends into context. • Sector composition: Following the summary provided in the Profile section, our team will outline- the sub -sector employment trends to help define the target sector in more detail North American Industry Classification System (NAICS) codes will be used in this part of the analysis. Market Street; typically analyzes sector composition at the six -digit NAICS level„ but usually provides four -digit NAICS level data for ,easier public consumption. Again, national -level data will be presented alongside data for the three county Wichita Falls region to provide context to community trends. • Site considerations and community assets: This section will discuss place -based assets, opportunities, and considerations that are specific; to the Wichita Falls region and relevant to the target sector in question. Higher education institutions, transportation and other infrastructure assets and; needs, and real estate dynamics will be among the items our team will assess. This section, will also include an examination of the ;region's sincentives. • Occupational trends: This section will provide insight on workforce strengths and weakness by referencing Standard Occupational Classificationc(SOC) codes when reviewing the trends for the Wichita Falls region. This section speaks to the; potential opportunities for diversifying the local iA"3 Picle 8 May 9 201 . lzroposa[ Wichita Fall Teyos Econoknic Devebpnient Strategy economy by providing a greater understanding of the current and future talent pool that could help the Wichita Fall regional economy become more diversified. Data Sources: Our team leverages a variety of public and private data sources to evaluate community competitiveness. This includes common sources of publicly available information such as the U.S. Census Bureau and the U.S. Bureau of Labor Statistics. However, our research is complemented by a variety of proprietary data sources, including Moodys Economy.com and Economic Modeling Specialists, Inc. (EMSI) which allows our team to provide additional value beyond what which is available publicly. We appreciate the opportunityto supplement our research with any data that may be available from local and state partners such as information covering tax receipts, permit and license activity, college matriculation, and so forth. MarketingReview: The Marketing Review wiII include an assessment of the Wichita Fall Chamber's website to gauge its effectiveness as a marketing tool, with specific consideration given to appearance, content,. effectiveness; and utility for external audience information gathering and data collection. There will also be review of advertising and collateral materials, inbound/outbound marketing events, public relations, trade shows, site location professional visits; and branding and identity -building efforts. Understanding that there has been significant discussion related to the area's performance in its marketing efforts, our team's review will be aided: substantially by gaining; access to internal assessments. Some of the specific elements of this component include the followings • Audience -based analysis: Market Street'will emphasize the importance of differentiating messages based on the intended audience (young professionals, small businesses, prospects, residents, etc). Understanding the scharacteristics of the intended audience will help refine the message and medium through which it is conveyed`. • Metrics for measuring success: Tracking the effectiveness of marketing efforts is of critical importance Market Street will address how to measure success through online analytics, activity measures, and other common metrics: • Expanded: input from the client: Market Street will engage Chamber staff with detailed questions to gain a full understanding of the overall marketing process to date and vision for future business and talent attraction marketing efforts. • Defensible analysis grounded in literature and practitioner experience: Market Street will leverage' our staffs combined decades of experience as economic development practitioners and rely on industry standard economic development literature to ground our critiques and recommendations. • Best -practice examples: Market Street will draw from its robust inventory of best practices to provide examples of industry -leading marketing strategies and websites to emulate. MARKET H Wid)ita FAK Teyos Ronomic DeAtdoµmentStrategy WichitaPhase 4- Economi Development Strategy During Phase 4, the Steering Committee will use the findings from the first three phases to begin the process of creating the Economic Development Strategy. Understanding that the primary goal of this process will be to focus on taking the efforts of the Wichita Falls regional partners to the next level, the final deliverable from this phase will be a holistic, actionable, and measurable Strategy. While it would be a disservice to the process to try to anticipate the outcomes of the research, analysis, and strategic discussions, it is expected that several key focus areas will be included, from entrepreneur -focused initiativesanddiversification efforts, to maximizing the impact of various partners' qualityof place programs and downtown revitalization activities Wichita Falls economic development programs will be evaluated, and opportunities for tactical enhancement and refinement will be considered. • Draft Strategy: The draft Strategic Plan will include suggested goals for each key issue area. Potential objectives and tactical action steps for each goal area will, be discussed and explored The draft Strategywill be inclusive of all recommended actions that the research determines are necessary for the Wichita Falls region to reachits full potential, s Revised Strategy: During the second meeting of this phase, a revised::Strategywill be presented for discussion. This version of the Strategy will incorporate the feedback provided by the Steering Committee and other key stakeholders and will include best practices from other communities. Best Practices: Our staff is constantly reviewing what other communities are doing to remain competitive in an uncertain global -economy. Our extensive work throughout the nation has - provided us with access to hundreds of- examples ;of best practice programs; polices, and initiatives - from *around the country. When relevant to a specific recommendation in the Strategy, Market Street will; provide brief descriptions of best; practice programs; policies, initiatives, and investments that the Wichita Falls Chamber and other implementation partners can use to help guide implementation efforts. In addition; particular' attention' will be given to examples of communities that have leveraged their 4Aand 413 organizations to create qualityjobs and spur economic; growth. Throughout; the process, the Committee will be broken into discussion groups, and/or be provided with follow-up surveys, tools, and interactive voting devices such as Turning Point to encourage collaboration and the exploration of all possible strategic options. IA"3 proposal Wichita Fall Teyos Ronomic Devebpnient Strategy Phase Implementation ;ii. e" Plan One of Market Street's core beliefs is that when the strategic planning process is complete, the real work begins Timelyand effective implementation is critical to the ultimate success of the Wichita Falls Economic Development Strategy. If the; Strategy represents what the Wichita Falls region needs, to do, the Implementation Plan determine how to do it The Plan will enable the Wichita"Falls region's leaders to secure early implementation victories and continue to build momentum for overall activation of the strategy. There are four elements that have been proven to be critical to implementation discussions: Prioritization: Pre implementation and first -year -actions will be identified in the Implementation Plan. These activities will include some "quick wins" and the beginning of certain long-term efforts: An implementation framework will also be created for years two through five to give guidance to Chamber and all of its partners; and to establish,a sense, of accountability that will help maintain early momentums Roles and Responsibilities: For each of the strategic recommendations that the Steering Committee develops and approves, there will be a discussion of roles in terms of leading and supporting implementation partners. For example, in some cases, the Chamber may be the lead implementer, and for other actions, other, partners may lead while the Chamber acts as a supporter; convener, or communicator. The Implementation Plan will serve as a tool to clearly define the roles of each partner and create the implementation network that is critical to the 'long-term sustainability of the Strategy: • Capacity and Budget Considerations: Market Street will assess the region's existing capacity to implement the Strategy, leveraging previous interviews with stakeholders, investors, and ongoing discussions with key volunteer and staff leadership Our team will analyze existing budgets and fundraising ,efforts, identify specific costs associated with implementation, and ;recommend necessary fundraising and alternative funding sources to close any gaps between existing resources and those necessary to effectively implement the Strategy. • Measurement Tools: The Implementation Plan will include results based performance benchmarks and activity measures that will enable stakeholders to track the progress of implementation and goal attainment. Specific metrics may be related to measurable data; such asjob growth, per capita income, or share of residents with a four-year college degree, or reflect achievement of activity measures such as program participation or number of business visits. IAA izroposa[ Wid)ita Fall Teyos Ronoknic Devebpnient Strategy Once implementation efforts- have been underway for a year, Market Street will return to Wichita Falls to review progress to date with key stakeholders prior to the trip, our team will interview -a number of leaders bytelephone, including members of the: Steering Committee and Chamber staff (and likely, implementation committee and/or "work group' leaders). During these; calls, our team will discuss implementation achievements and activities that have occurred since the; strategy was launched. Our team will then review feedback and any progress reports provided and prepare an Implementation Assessment deliverable. The findings of the Assessment will be presented at a community leadership meeting to be convened by the Chamber and primary implementation partners. The presentation to community leaders will highlight early wins, significant changes that have occurred, and challenges and opportunities going forward Ultimately, the Assessment will provide direction in terms of any strategic recalibration that might be needed in order to successfully implement actions during years two - five of the Wichita Falls Economic Development Strategy. MARKETH roa©s,d; Wichita Filk, Iexa; , 8ronontis [fir?vdonnmentStrategy': NMI a ! s t j ;t R8i57+i}5Eb11(NEitNE - Nfc�nEhi tvlcrrth2'` �,,,t, �. ' � hlnrtth3 } �'.�} Month d; > ,, r ..�,`'`, >Montf!5 tit I d, f' ,. m� ,�.Ee Mo1"0 �iYr �.h ,:�.ev xdP 1Y #N7Y. MbntYi:3 ,spF. `� � P$ � �� t t. 1 . � �w. mg4hS ,it �;,.$',a �,�� � '4 ,�'�"p':' I `I. .,�,�'t,. 1£ 11f . ,ty5nrw%hJ r,. S k #'9 .�i�i M htFi 14. ry �. � d,""g< s�z��' ,�,s.uuuuuuuuuuuuuuuu,�uuuu,tiw.uuuuuuuo,u,uuuuuuu,V.uuuuuwauuuuuuuuu ,u,u,u,u, v,.mv.���u u�u�u�u�uuuuuuuuu�+x,u,u,u,u,u,u,u,u,u,u,u,u,u,ousus,u,u,u,u,u,u,u,u,u,u,u,u,u,u,u,u,u�„�>iuiuiuiuiuiuiuiuiuiuiuiuiutiwV.uuuuuuuuuuuuuu�+.�s,u,u,u,u,u,u,u,u, :r„u,a,u,u,u,u,u,u,u,u,u,u,u,00rus,u, ,u,u,u3.,,: .. .. -,,,..................... and discuss daliverable T=Technical Advisory Group meeting. One year after the strategy is launched; our team will return to Wichita Falls to present the Implementation Assessment, as described on the previous pager MARKET LT PaT,1 ; Mav9 W17. izroposa[ Wid)ita Fall Teyos RNiomic DoteopmentStrategy Since our founding in 1997, Market Street has been a trusted advisor for a wide range of clients in more than 165 communities and regions in34 states While our client list includes a significant variety of organizations, from regional economic development organizations to public sector entities, the majority of our processes are convened by chambers of commerce. We have also served as a national sponsor for the Association of Chamber of Commerce Executives for the past 11 years. Our firm is privileged to serve a growing list of repeat client communities. In fact, dozens of our clients have engaged us for more than one contract. Manyof'these clients are featured below, and additional information about our experience and our team canoe found at marketstreetservices.com. References can be provided for a number of communities; ranging from Austin and San Marcos to Pearland and El Paso, or for clients outside of Texas. R'- A=0' r,A Al"CHAMBER rrrsr�rs:s ratarc°'�+, INDY N F�' A R T' N FZ S H i P f, I GreaterLouisville I The Metro Ci imbe, of Comm�t�e: Springfield Area Chamber of Commerce .7 Giv;tter,laeks(iii (A mjiibcr PA IAT JOPLJN AREA Y S`C PE LRSBURG CHAMBER PrOPOS i; Wid)ita Fall Teyos Ronomic DoteopmentStrategy *roject Team Market Street's staff has worked with clients throughout the country to not only devise measurable, achievable strategies, but also has first-hand experience in clarifying what is needed from an organizational standpoint to successfully implement 'those strategies. A full ;staff listing is illustrated below, and qualifications have been provided for the five key project personnel for this process. Mac Holladay will be very involved in the process throughout and will lead two Steering Committee meetings including the initial kickoff meeting and will also conduct several high priority' interviews. Matt DeVeau will serve as the Project Manager, with support from our two Vice Presidents (Alex Pearlstein and Matt Tarleton) Ranada Robinson, our most experienced analyst, will lead research efforts. Bios for the lead staff team are provided on the following pages Additional background can be found at marketstreetservices.coms. J. Mac Holladay,;CCE, PCED,LM,HLM CEO and President Mike'Gaymon, GACCE Senior Advisor Matt Tarleton Vice: President Ranada=Robinson Research Manager' Alex Pearlstein Vice President and Project Manager Evan Robertson Senior Project Associate Kathy Young Coo Matt DeVeau Project Manager Katie Thomas Alexia Eanes Jim Vaughan, Jr., CCE Stephanie Allen Project Associate Operations Manager Senior Advisor' Project Assistant MARKETH Izroposa[ Wichita Fall Teyos Ronomic Devebpnient Strategy J. MAC HOLLY DAY, CCE, PLED, LM, HLM Chief Executive Officer J. Mac Holladay is the founder and CEO of Market Street Services. M'r. Holladay has been in the community and economic development field since 1972 He served three Chambers of Commerce over a 13;year period and is the only individual to head state level economic development organizations in three different states. Mr. Holladay served as Chief Operating ; Officer for the Governor's Development Council of Georgia from June 1993 to July 1997 Prior to 1993, Mr. Holladay served as the State Director for both the Mississippi Department of Economic and Community Development (1988 1992) and the South Carolina; Development Board (1985-1988). His professional career began zin his hometown of Memphis, Tennessee, following five iyears ,as a U.S. Naval Aviator, three of which were :spent in the Far East including service in Vietnam During his four years at the Memphis Area Chamber of Commerce; Mr. Holladay served as Director of Special Projects, Associate Vice President of the Convention Bureau, and Vice President of Member Relations. He then served as President of the Columbus Area Chamber of Commerce in Indiana and from 1979 to 1985 he was the President of the CharlestonTrident Chamber of Commerce in Charleston, South Carolinas His professional honors include being named a Certified Chamber Executive (CCE) in 1982 and serving as president of both the Indiana and South Carolina Chamber of Commerce Executives. Mr. Holladay was a member of the Commission of the Future of the South from'1986 to 1992 and was the Chairman of the Board of Regents of Leadership South' Carolina: from 1984 to 1988. He was selected as a member of the 1986 class of the International Business Fellows and has served on the Board and Executive Committee of the Society` of International Business Fellows. He was Co Chairman of the Southern Technology Council of the Southern Growth Policies Board in 1991. He was named a Professional Community and Economic Developer (PCED) in 2006, named a Life Member of the American Chamber of Commerce Executives association in 2009,,and given the Distinguished Alumnus Award in 2011 by Leadership South Carolina The Southern Economic' Development Council named him an Honorary Life Member at its 2012 Annual Meeting. Mr. Holladay now serves on the Board of Directors for the, Georgia Budget and Policy Institute, the Atlanta Educational Telecommunications Collaborative (AETC), the National Advisory Boards for the William Winter Institute for Racial Reconciliation at the University of Mississippi and the International African American Museum on Arrival Square (IAAM); theAdvisoryBoard of Washington and Lee Alumni College; and the Editorial Board of the Journal of Multistate Taxation and Incentives: M r. Holladay speaks across the country on the topics of community and economic development and has been quoted in a wide variety of publications including BusinessWeek; Fortune; The Wall Street Journal, The New York Times, Bloomberg News, The Atlanta Journal Constitution, and many other newspapers. In 2015, Southern Business and Development magazine named Mr. Holladay one of ten economic development leaders who made a difference; He is a graduate of Washington and Lee University and was recognized by the University as a Distinguished Alumnus in May of 2012 He holds an honorary doctorate in Business Administration from Johnson & Wales University. Mr. Holladay has been named the outstanding faculty presenter at the Basic Economic MARKETH $'agt 16 - Mi,/..J: 2017 izroposa[ Wid)ita FAK Teyos Ronomic Devebpnient Strategy Development Courses at Georgia Institute of Technology, Auburn University; Louisiana State University, and the Universities of North Carolina, Kentucky, Arkansas Little Rock, Tennessee; and Southern Mississippi: Mac is married to the former Carolyn Gordon Howe and has two daughters, Jennifer and Sarah; two step children, Sarah and Alec; and eight grandchildren. Avid travelers, in recent years the Holladays have spent time exploring Tanzania, America's National Parks, Vienna, Ireland, Israel, Australia, New Zealand, Norway; Botswana, Spain, The Galapagos Islands, Italy, Cuba, and South Africa. MATT TARLETON' Vice President and Principal Matt Tarleton joined Market street in 2008 and currently serves as Vice President and Principal. In his time at Market Street, Matt has worked with more than 50 different communities and organizations including the> management of strategics planning processes for major metropolitan areas such as Atlanta,; Indianapolis; Nashville, and Raleigh. He is currently managing the Opportunity Austin 4.0 process. He has also worked with many smaller communities from Watertown, South Dakota to Grand Island, Nebraska, helping build volunteer and organizational capacity to implement various economic and 'community improvement- initiatives. In addition to directly managing specific projects, Matt is also a part of every project team at Market Street, providing research guidance and oversight. Matt earned his master's degree in applied economics and his bachelor's degree in economics with urban planning as a second major from the University of North Carolina at Greensboro. He has also spent time abroad studying at the London School of Economics Matt has been a university instructor in macroeconomics and economic development, and he frequently; speaks at conferences, seminars, board retreats, and other functions across the country on issues of community competitiveness, strategic planning for economic development, and best practices in the management; of chambers of commerce, economic development organizations, and destination marketing organizations His writing and remarks have been published and quoted in Area Development; Chamber Executive, and a variety of other media outlets. He currently serves anthe board of directors for the Initiative for Affordable Housing and :re loom: r � s Alex Pearlstein has been at Market Street since 2003 and currently serves as Vice President. In this role, Mr. Pearlstein oversees the development of all strategic deliverables for Market Street clients. He also continues to serve a day-to-day management role for specific projects. As project manager, he has overseen strategies for dozens of clients in 20 states Communities include Austin, TX (six projects); Nashville, TN; Kansas City, MO; Naples, FL; Rochester, MN; Tulsa, OK, Des Moines, IA, Memphis, TN; Morgantown, WV; Coachella Valley, Ck St Petersburg, FL Sioux Falls, SD; and the state of Missouri, among others. Alexreceived a master's degree in Cityand Regional Planning with a specialization in Economic Development from the Georgia Institute of Technology; and a bachelor's of arts in Communications from the University of California at San Diego. He has been; an instructor at Basic Economic Development courses- in Georgia; Alabama, and Arkansas. MARKETH Pagt 1 - May,9: 2017 Proposal: Wichita FAK Teyos Economic Devebpnient Strategy Project Manager As a Project Manager, Matt DeVeau provides analysis for our client communities and works directly with our clients to develop strategies and provide implementation guidance Matt',s current and recent projects include Columbus, Georgia; Dalton, Georgia, Spartanburg, SouthCarolina; and Topeka, Kansas. Matt previously worked as a Research Associate at the Gwinnett Chamber of Commerce: At the Chamber, he supported the efforts of Partnership Gwinnett, Gwinnett's community and economic development plan that was; created through a: Market Street led process. Matt holds a;Master of City and Regional Planning with an emphasis; in land -use planning from the Georgia Institute of Technology and a Bachelor of Arts in Journalism from Western Washington University in Bellingham, Wash. He; completed the IEDC Basic Economic Development Course in 2012. RAN DA ROBINSON esearciir Manager Ranada brings to the Market Street team a love for research that stems from her integrated background of math, computer science, risk management and insurance, and urban policy. In addition to providing quantitative and qualitative data analysis to client projects, she is also a resource for other research staff, As Research Manager, Ranada has served as lead researcher on a wide array of projects as well as providing research oversight, designing staff training, and evaluating current and potential research tools and resources Ranada has worked, in a diverse array of client` communities, from cities such as St. Petersburg, Florida, to counties such as Decatur -Morgan County, Alabama and: Fayette County, Georgia, regions such as Des Moines, Iowa and San Marcos, Texas; to state -level projects, such as Missouri. Ranada holds a Master of Science in Urban Policy Studies with specializations in policyanalysis and economic development, and planning and a Master of Science in Risk Management and Insurance from Georgia State University. Ranada .is also a graduate of Tougaioo College, where she :earned a bachelor's degrees in mathematics and computer science She has completed the IEDC,Basic Economic Development Course ats Georgia Tech; and she has received certification from Economic Modeling Specialists' International (EMSI). Involved in community service; Ranada is active in several organizations; including Alpha Kappa Alpha Sorority, Inc. In 2016, she was inducted into the Tougaloo College Inaugural Class of 40 Under 40 for her career achievements as well as her alumni leadership at local and national levels. In 2015, Ranada was selected from 300 applicants to participate in the Next City Vanguard conference in Reno, Nevada, where she worked with fellow urban Leaders to brainstorm ideas using tactical urbanism for Reno redevelopment projects.. IAA eagt 18 — Ntay,13: 2017 PrOPOS l; Wid)ita Fall Teyos Ronomic DoteopnientStrategy COST ESTIMATE Market Streets fee schedule is based on the contracted deliverables and includes project management, research, and analysis. Our budget assumes that key staff person from the Wichita Falls Chamber will serve' as a resource on a day-to-day basis and will assist in the collection of needed information and materials and primarily manage the coordination of stakeholder interview and focus group scheduling; The process as outlined will cost $170000 plus actual expenses estimated at $13,500 related to travel, shipping, printing, and other reasonable and direct fees. Any out-of-pocket reductions the, Chamber can provide for printing, meals, or hotels can be deducted from this expense estimate. The scosts rassociated with the creation of project websites for the first year are included in the consulting fee total, with the exception of the domain hosting fee which is included in the -expense -estimate. Beyond the first year, there are several options related to maintaining the project website, depending on the client's preferences and staff capacity. Market Street believes that the process outlined in this proposal will best serve the needs of the Wichita Falls region. However, at the client's request, our project team can adjust specific components to better align with strategic goals and financial considerations: The; estimate for project costs is based ,on a number of criteria and assumptions outlined in the proposal, including the number of meetings, size of the Steering Committee, and level; of involvement of senior and executive level Market Street staff, among others. Alterations to these assumptions after the initiation of the project would require a contract addendum. This cost estimate is valid for 90 days. The proposed project timeline invalid for 30 days. IA"3 Pagt 19 - Maxy 9, 2017 PrOPOS l; Wid)ita Fall Teri, Ronomic DeAteopmentStrategy CONCLUSION Now is an ideal time for Wichita Falls regional leaders to moveforward with an ambitious Economic; Development process: Working with Market Street will ensure that Wichita Falls leaders are supported by an experienced firm that has led the nation's most successful communities through collaborative strategic planning processes Our track record of helping communities reach consensus on strategic priorities coupled with the capacity building our process delivers has led to actionable; implementation results and sustainable prosperity for a wide range of clients. We look forward to the opportunity to partner with the Wichita Falls Chamber of Commerce & Industry in this :process rand will commit our team to the effort with the same high standards that we bring to all our work. IA"3 Pgtza Mi,/9:2017