The Town Council has approved a three-year Community Economic Development Strategy (CEDS) presented at the Sept. 6 council meeting.

Economic Development Director Amanda Jacobs presented the plan “designed to focus on measurable strategic goals and objectives to increase the Town’s competitiveness and create a vibrant economy that contributes to the health and well-being of the community. Jacobs said she is preparing to discuss implementation of the plan in depth with the council at a special retreat session Thursday, Nov. 2.

“The CEDS serves as a roadmap to build upon the Town’s strengths and opportunities, as well as leverage strategic partnerships to address local challenges and enhance economic opportunities,” Jacobs said.

Jacobs presented staff reports to the council, citing elements from that information.

The CEDS opens with a mission statement related to Town government. “The Town of Fountain Hills’ purpose is to serve the best interests of the community by providing for the safety and well-being of its residents and visitors; respecting its special, small-town character and quality of life; providing superior public services; sustaining the public trust through open and responsive government; and maintaining the stewardship and preservation of its financial and natural resources. To serve and respect and provide trust and stewardship.”

Town’s Vision

“Fountain Hills is a distinctive community designed to invigorate the body, mind and spirit, and strives to be stewards of this unique enclave, dedicated to preserving the environment and visual aesthetic and to living in balance with the Sonoran Desert; champion the diversity of experiences … residents bring to our community and rely on this depth of experience to innovatively address … challenges; be economically sustainable and anchor … vitality in an active, vibrant town core that serves (residents) culturally, socially and economically; and, be civic-minded and friendly, taking responsibility for (the) Town’s success by building partnerships and investing our talent and resources.

Executive Summary

“Using the Town’s mission, vision, adopted General Plan and Strategic Plan as a driver, the Town of Fountain Hills’ Three-Year Community Economic Development Strategy (CEDS) is designed to focus on measurable strategic goals and objectives to increase the Town’s competitiveness and create a vibrant economy that contributes to the health and well-being of the community.”

Prior to drafting the CEDS, Jacobs led two workshops with business and community leaders. Based on the feedback from participants, the CEDS has five focus areas: Business Attraction, Business Retention and Expansion, Marketing, Strategic Partnerships and Tourism.

Business Attraction

“Business attraction is important to a community, because it builds and diversifies the local economy with new businesses; brings in new investment and revenues, expanding the tax base; increases the number and type of jobs available to residents; and generates investment in community assets by providing local options for services, shopping and entertainment improving the overall quality of life,” the report states.

“The Town’s major employers are primarily service-based industries (that) include Bashas’, Brokers Alliance, Fry’s, Fountain Hills Unified School District, Safeway, Target and Town of Fountain Hills. While not necessarily new industries to the community, the Town will focus efforts to expand targeted industries over the next several years to include Assembly (small scale), biosciences, financial services, healthcare, hospitality, retail, start-ups.”

Business Retention and Expansion

This objective focuses on 80% of new jobs and capital investment that comes from companies that already exist in the community. “Existing businesses and the local workforce are key components of a community’s economic health and research shows that small businesses are the major drivers of job growth, which is why the Town of Fountain Hills and Fountain Hills Chamber of Commerce partnered in June 2022 to launch a formal Business Retention and Expansion (BRE) Program. BRE Programs preserve and increase local jobs, preserve and increase local tax revenues, maintain or diversify the local economy and maintain or diversify access to goods and services.”

Marketing

“Today’s businesses can locate anywhere; however, they will only come to (the) community if they know about it and if (the) community has what they need. A significant element of economic development is telling a story that creates an attractive brand identity for business, capital investment, and prospective residents. To achieve long-term economic development success, it will be essential for Fountain Hills to prioritize efforts to attract new talent in search of a better place to live, young professionals in search of a place to build a career, and entrepreneurs and investors who are looking to build companies.”

Strategic Partnerships

“Community and business leaders have expressed their commitment to seeing Fountain Hills as a growing and vibrant community. Fountain Hills can leverage the engagement from community and regional partners to support current and future economic initiatives.”

Tourism

“Tourism is one of the largest economic contributions to Arizona and its local communities. The Town of Fountain Hills is a tourist destination that offers the benefits of Arizona’s sunny climate with outdoor recreational adventures, scheduled special events, golf courses, hiking trails and other attractive visitor amenities. The Town has four hotels with a total of 320 rooms, which contributes to the local economy through bed and sales tax.”