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Wayne State University’sOffice of Economic DevelopmentNed StaeblerVice President, Economic DevelopmentPresident & CEO, TechTownMay 1, 2015EconomicDevelopment
Who we areThe Office of Economic Development leads Wayne StateUniversity’s efforts to catalyze business activity and promotea vibrant Midtown Detroit.We are a hub and a convener. We work across the universityto leverage Wayne State’s assets—our talent, our researchand technology, our facilities and services, and our realestate—to stimulate growth and strengthen Midtown andneighborhoods across the city.EconomicDevelopment
Our approachPLACEBUSINESSTALENT
Placemaking
Placemaking,I\Bike repair standWalk [Wayne State] signageEconomicDevelopmentDIA’s Inside Out art
Transportation MobilityConducted study and raisingfunds for public bike sharesystem in Greater DowntownDetroitInvested 3 million inM-1 Rail Streetcar project
Transportation MobilityDDOT Pilot3,000 bus passes provided tostudents living on campus16 Zipcars on campus40 cars throughout greaterDowntown
live 1,605 residents attracted and retained (since 2011) 494 WSU participants‒ 25 purchase‒ 236 rental‒ 230 lease renewal‒ 3 exterior rehab Expansion of Live Midtown boundaries Funding committed through 2015 Occupancy rates are 97% in Midtown; 98% in Downtown Increasing rental market ratesEconomicDevelopment
Public safety 51% decrease in serious crime – lowest in 20 years WSU has lower crime rates than most suburban communities
BusinessBlackstone LaunchPad Members: 1,056 Venture ideas: 476 Companies started: 147 More than 50% generatingrevenue within first year Over 70,000 received tosupport student ventures
BusinessThe Front Door for BusinessEngagement Access to more than 1,750WSU faculty and researchers More than 500 businesscontacts Won 10 partnered researchawards Two industry liaisons:Engineering & Technologyand Health Care & LifeScienceshttp://thefrontdoor.wayne.edu
BusinessGoldman Sachs10,000 Small Businesses‒ Intensive education andcoaching program for secondstage small businesses poisedfor growth‒ WSU is one of 17 partner sites‒ 10KSB Detroit: 100 graduatesover three cohorts‒ 65% of alumni reportincreased revenues; 45%report job creation within 6months completion of program
TechTownLABSBLOCKS Venture Accelerator SWOT City: Start-upacceleration andeconomic developmentin 6 neighborhoods DTX Launch Detroit Incubation TechCommercialization Retail Boot Camp:Support for launchingbricks-and-mortarbusinesses
TechTown2007 – 2014: 1,116 companiesserved 1,190 jobs created 107.3 million infollow-on fundingsecured bycompanies
TalentDetroit Revitalization Fellows Matches emerging leaderswith civic, community andeconomic developmentorganizations 51 fellows over 2 cohorts 650 applicants for Cohort 3(starting in August 2015)Diana Flora, Data Driven Detroit:Motor City Mapping Funding support from: Kresge,Ford, Hudson Webber, Knight,Skillman, DTE Energy, Fisher, &Pricewaterhouse CoopersFoundations; Rock Ventures;and Wayne State UniversityJerrell Harris, Focus HOPE:LaSalle House, HOPE Village
Talent Detroit 101 (1/2 day session) Detroit Dialogues (90 minutes) Dig Deeper (1 days) National and local speakers Themed workshops 2015: Artist & communityactivist Theaster Gates; GilPenalosa and 8-80’s Cities
ResourcesProgramFTEsWSU FundingOED/CorporateEngagement4.5 428,574The Front Door3.5 360,000Detroit RevitalizationFellows3.5 2,300,000Blackstone LaunchPad2.0 300,000Goldman Sachs 10,000Small Businesses8.0 1,100,000TechTown19 4,500,000TOTAL40.5 428,574External Funding 8,560,000
What’s happening in MidtownThen:Now:142 real estate development projects in Midtown 2013-2014
Midtown by the Numbers New housing units, 2010-14: 836 Renovated housing units, 2010-14: 68 65% of rental units have rent of 800 Commercial lease rate: 16.01/sq ft Commercial vacancy rate: 11% 109 restaurants and 28 outdoor patios 59,557 employees Total investment, 2013-14: 2.15B
MidtownMidtown bythe Numbers 72 projects complete 21 projects under constructionII 0 IIMH!OHDHJ/li.111 J!» 51'11illLDT1111lJ'ettRANDBLVDI iHl11@11 49 projects in the pipeline0m 1!.lRD@ ,N I 'e,rmrEconomicDevelopmentIffl[llIIUItDMSIC mtmJ--)j:l;ji@HMI· 1 UEll ---- - --r:;; ,- -i
Woodward & Willis
HopCat Detroit
Selden Standard
Strathmore
District Planning Midtown Detroit,Inc. Henry Ford HealthSystem TechTown Innovation District
M-1 Rail
Midtown GreenwayLoop
What’s NextPLACE The Plaza– Residential (former Hammer & Nail building) Palmer Townhomes – Extension of Palmer Townhomes onPalmer between John R and Brush Cass Avenue– Street enhancements (landscaping, lighting, bikelanes) – WSU, MDI, City of DetroitBUSINESS TechTown and Wayne State partnership Re-launch of Warrior FundTALENT Cohort 3 of Detroit Revitalization Fellows Kresge Mayoral Fellows Van Dusen Urban Leadership Forum: partnerships with DetroitHistorical Society and Jefferson East, Inc.EconomicDevelopment
a vibrant Midtown Detroit. We are a hub and a convener. We work across the university . ‒3 exterior rehab Expansion of Live Midtown boundaries . Engineering & Technology, and Health Care & Life Sciences? Business Goldman Sachs . 10,000 Small Businesses ‒Intensive education and coaching program for second-
