Economic Development Plan Set to “Advance Westerville”

If a “roadmap” is meant to provide a course or route for strategic development, the newly adopted Westerville economic development plan can be summarized with four key actions: Retain, Develop, Support and Market.

The new roadmap, titled “Advance Westerville,” is the first comprehensive refresh of the economic development plan in nine years. It was presented to Westerville City Council during a work session on Sept. 13; aligning with one of Council’s top priorities of maintaining a “Thriving Business Climate.”

“The purpose of an economic development plan is to focus on creating jobs,” said Rachel Ray, economic development director. “Income tax from job creation funds the services we provide and inspires public and private investment in our community. But we also want to be resilient. There have been a lot of changes in the economy—nationally, at the state and locally—so we want to make sure we have the right foundation in place to weather whatever is on the horizon, be it weathering storms or harnessing opportunities.”

The four key elements of the plan provide a series of tactics meant to build upon that foundation and its existing success in areas like Westar Place which is home to corporate headquarters, new amenities and the City’s first full-service hotel and conference center.

In three to five years, the economic development team plans to use those elements to reach specific target industries, including businesses in life sciences, financial technology and healthcare research and development. Based on its ideal geography, Westerville will continue to develop commercial projects for corporate and regional headquarters and semiconductor suppliers.

Boyette Strategic Advisors, an Arkansas-based firm that specializes in economic development planning, assisted in the development of the strategy. Also involved in the development of the 2014 plan, the company’s president says Westerville is positioned for strong investment comparable to what successful suburban communities across the nation are experiencing.

“For 10 years we’ve known Westerville as a place that successfully pursues the right growth and development for the City and its residents,” said Del Boyette. “An even more dynamic future focusing on unique opportunities with unprecedented success is on the horizon.”

For more information on the Advance Westerville plan, please visit business.westerville.org.

RETAIN

Launch a proactive existing industry program that best anticipates what companies here today need to thrive in the future.

Continue to leverage Otterbein University, a member of the Westerville Partnership, as a key competitive advantage for Westerville.

Maximize Westerville’s existing assets to support employer needs.

DEVELOP

Redevelop and reposition aging commercial real estate to maximize Westerville’s competitive product availability.

Invest in infrastructure developments that will support future economic development efforts.

Continue to enhance the economic vitality of Uptown to support City Council’s goal of an Authentic and Alive Uptown Westerville.

Study economic development tools that will enable Westerville’s boundaries to grow and result in expanded land available for development.

SUPPORT

Convene employers, education/training partners, and others in the workforce ecosystem to address ongoing workforce needs and skills gaps.

Encourage the growth of the innovation and entrepreneurial ecosystem.

Support equitable economic development as part of growth and redevelopment in key strategic areas.

Explore the opportunities for continued growth along the Medical Mile.

Leverage the Westerville Industry and Commerce Corporation as a strategic conduit for economic development programs and opportunities.

Continue to understand the needs of Westerville businesses and potential prospects as it relates to sustainability.

MARKET

Develop key messages and a marketing strategy to support the expansion of Westerville’s target industries.

Leverage Westerville’s “Smart City” initiatives to support the economic development strategy.

Create a branding initiative for the “Medical Mile.”

Promote the attributes of Westerville City Schools, a member of the Westerville Partnership.

Cultivate community economic development champions through enhanced education.