Determining a site has market potential to be an industrial park is not the end of the effort to create a higher and better use for the land. To retain and attract manufacturing, research and development and logistics companies and centers, the sites need to have a Public-Private-Partnership to ensure the site is properly zoned, annexed into a community that provide essential city services, develop a workforce development strategy and program, gain site control, provide a tax abatement and get the public infrastructure in place using public finance programs.
The Montrose Group suggests a thoughtful approach to create a public-private partnership (PPP) to support the development of public sector industrial parks that could lead to the creation of a small-scale or large, mega site for public sector entities.
Review of existing site plans. Review existing engineering plans, land use entitlements, and real estate plans and define the political jurisdictions related to the mega-site planning for the Cincinnati area to gain a further understanding of the steps needed to develop a public sector industrial park to outline the potential uses of local and state government funding;
Local and State PPP Strategy. Develop a local and state PPP strategy to prepare the public sector industrial site for global competition through appropriate real estate strategies, Community Improvement Corporation or other public entity ownership of the public sector industrial park, land use entitlements, property tax abatement, TIF, and state funding;
Manufacturing Workforce Strategy. Tight manufacturing labor markets demand communities prepare a workforce strategy for this industry before the company even comes to town. Partnerships with local educational institutions and local companies is the place to start and retention of young workers is the number one priority.
Site Ownership/Control. Gain the necessary site development organization that may need to be formed by the public entities tied to the public sector industrial park;
Utility Negotiations. Gain the needed utility infrastructure to prepare the site for global competition;
Land Use Entitlements. Negotiate and adopt the needed annexation, zoning, or other land use entitlements for the public sector industrial park;
CRA Property Tax Abatement. Negotiate and adopt the appropriate Ohio tax abatement program, term, and amount that the site needs to be globally competitive and support the negotiations of local school compensation agreements if required;
TIF Public Infrastructure Funding. Negotiate and adopt the appropriate public infrastructure programs like tax increment financing to fund the infrastructure needed to make the site globally competitive and support the negotiations of local school compensation agreements if required;
JEDD Planning and Infrastructure Funding. Create a working partnership between a county, township, and city if needed if the state permits the use of Joint Economic Development Districts or other tools to provide joint economic and public service planning between relevant cities and townships to provide needed infrastructure funding; and A Public-Private-Partnership is essential to prepare an industrial park for big corporate site location wins.