City of Burbank
Five Year Economic
Development
Strategic Plan
2024-2028
PREPARED BY
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TABLE OF CONTENTS
3 Executive Summary
4 Introduction
7 Stakeholder Engagement
8 A Snapshot of Burbank’s Economy
11 Burbank’s Economic Development Goals
16 Staffing Analysis and Recommendations
20 Timeline for Implementation
25 Appendix A: SWOT Analysis
27 Appendix B: Economic Development Resources
The City of Burbank Five Year Economic Development Strategic Plan 2024-2028 is authored by the Stratiscope team
John Bwarie, Nance Rosen, Ken Lee,
and designed by Chara Espaldon.
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INTRODUCTION
The City’s Economic Development Strategic Plan functions as a guide for creating the City’s economic development priorities and activities as they align with the City Council’s overarching goals and its strengths, as well as market opportunities. Typically for planning purposes, the timeframe is a five year period so that the appropriate groundwork is laid and then built upon, resulting in optimized work programs, staffing, and resource allocation. The most recent Economic Development Strategic Plan, crafted in 2018, put forward a vision for economic development that was sharply interrupted by the 2020 global COVID-19 pandemic. Thus, the City replaced that plan with its 2020 Economic Recovery Plan. Both of these plans were crafted internally.
In Summer 2023, the City of
Burbank retained Stratiscope
to formulate a new five year
Economic Development
Strategic Plan with the purpose
of shaping the City’s economic
development policies, programs,
and initiatives through 2028. Over
a six month period of research
and analysis for this plan, multiple
sources were accessed in order
to compile a comprehensive
outlook of the current and future
challenges, opportunities, and
potential avenues for growth
for the City. Data was provided
by the City and key partners.
Insights were collected from
a vast number of stakeholder
interviews (including City
Council, City staff, and business
leaders), group meetings, and
workshops. An in-depth review
was conducted to ascertain best
practices in municipal economic
development. Industry and sector
research complemented these
efforts, along with work the City
has done to date related to key
sectors, indicators, and other key
issues.
Thus, this plan hones in on
specific, actionable programs
to create a vibrant, resilient
economic future for Burbank.
While input gathered was
extensive, the best efforts were
made to include the most viable
options within constraints of
time and resources. This 2024
Economic Development Strategic
Plan, once adopted, becomes the
guiding document for the next 5
years for the City of Burbank.
The City of Burbank’s economic development efforts are
dedicated to fostering a vibrant job market, stimulating robust commercial activity, and maintaining an
exceptional quality of life for its residents, businesses, and visitors. Economic development efforts facilitate job growth, encourage innovation and entrepreneurship,
attract new investment, increase revenues, create vibrant neighborhoods, and support businesses. With that
mission in mind, the Five-Year Economic Development
Strategic Plan leverages both the esteemed legacy of the City and its potential for future growth over the upcoming five years. Because economic development is so multi-
faceted, the plan contains a spectrum of programs and
tactical actions to ensure that the full capacity of the City is engaged and expanded for increased stability and growth, with a focus on the ease of doing business in
Burbank.
Six goals are at the heart of the plan and serve to focus the efforts and use of resources as well as the roadmap that sets out the expectations and outcomes of the next five years. The goals are:
Goal 1: Streamline the permitting process to enhance opening of new businesses and the expansion of existing businesses
Goal 2: Optimize occupancy of vacant or underutilized spaces to maximize City revenues and opportunities
Goal 3: Focus on innovation to ensure a vibrant, growing economy Goal 4: Retain and expand Burbank’s leading and emerging industries to balance the future economy: Creative, Healthcare, Tourism, and Higher Education Goal 5: Increase the resources to support diverse, independent small businesses Goal 6: Market Burbank to attract businesses and employees The plan identifies the four sectors that will have the greatest impact on the economic stability and growth of the City. These are the Creative Economy Sector, Tourism Sector, Healthcare Sector, and Higher Education Sector. With attention to Burbank’s largest employers as well as small businesses, the plan will enlarge the City’s ecosystem of responsive services and resources, as well as the speed of implementation for businesses currently operating within the City. In addition, the plan focuses on the quality of outreach and meaningful changes that will attract new businesses and investment to the City.
Without enhancing economic development, the City will not be able to maintain its premium level of services that residents and businesses have come to expect and appreciate. Economic development programs and initiatives generate a direct return of revenue to the City’s general fund through increased sales tax, transient occupancy tax, and growth in property tax (through increased property values). These efforts support and foster activities that ensure the ongoing success of the City and its businesses. While the City has made progress to support the growth of the local economy, the next phase of support requires additional investments to future-proof the City in the face of an evolving and rapidly changing economic environment due to factors beyond the control of the City With an equal emphasis on maintaining the best attributes of the City’s current economic development activities as well as producing a wealth of innovative new services that create a competitive advantage for the future, the 2024 Economic Development Strategy Plan leads the way towards sustaining and growing a more vibrant economy.
EXECUTIVE
SUMMARY
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SECTOR ANALYSIS: A FRAMEWORK FOR GROWTH
Given the City’s growth goals, a careful review of the potential sectors determined the plan’s focus on four sectors. These four sectors stood out as the best way to both continue investing in the strong foundation of Burbank’s economic legacy and also feed the City’s appetite for a competitive, vibrant future. Sector profile information and key rationale are included below.
1. The Creative Economy Sector generates economic value via activities that depend on imagination, talent, and the related production, sale, or distribution of intellectual property.
According to G20 Insights, the creative economy encompasses the entertainment industry including media, entertainment, film, production, and the arts. The sector could account for 10% of global GDP by 2030, and one study by Deloitte projects a 40% growth in creative sectors by 2030. Delivering significant growth and economic value, this sector encompasses a wide range of industries and professions, from advertising to architecture, from fashion to film, from music to software, and from publishing to video games. In addition to its positive future forecast, the creative economy is a vibrant, noteworthy part of the City’s legacy, its current economic foundation, and its unique reputation. Combining a myriad of artistic and technical skills to increase an idea’s value, this legacy sector in the City enjoys a limitless horizon to generate income, jobs, and exports while promoting social inclusion, cultural diversity, and human development.
2. The Tourism Sector is an economic engine that generates economic value from the businesses and organizations that cater to business and leisure travelers, such as hotels, restaurants, conference and entertainment venues, cultural sites, transportation companies, and tour operators. Recovery from the pandemic has unleashed pent up demand, particularly from domestic tourists, according to the The California Tourism Board. The sector creates productive and inclusive jobs, especially for women and young people, who comprise the majority of the tourism sector’s workforce, per the Rand report, The Effects of Travel and Tourism on California’s Economy.
International tourism may attract Foreign Direct Investment (FDI), which would occur when a company from another country invests in a business or project in Burbank.
3. The Healthcare Sector includes businesses that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients. The healthcare sector currently accounts for 18% of U.S. GDP in 2020 with McKinsey projecting a 7% growth rate over the next 5-10 years.
Technology and innovation associated with healthcare make it one of the most dynamic parts of the economy, as an aging population and a general population increasingly focus on enhanced quality of life, on-demand benefits or self-administered treatments, increased longevity, and reduced costs, which create new market opportunities. The potential for FDI, as well as balancing the economic base of the City, developing a culture of innovation, and perhaps even medical tourism make this sector attractive.
4. The Higher Education Sector includes on-ground and online universities, colleges, and other institutions of higher learning such as satellite campuses that provide education, training, and internships. While higher education has significant value as a sector in an economically vibrant and attractive City, its most profound impact is its contribution to fostering innovation, entrepreneurship, research, and development in other sectors, per the World Bank. With the advent of micro-credentials, the focus on continuous or “just-in- time” skill building rather than traditional four-year degrees, the expansion of international education (including how that relates to FDI), and preparing the workforce for the future, this sector has greater value to economic development than its own growth projection.
IMPLEMENTING THE NEW
ECONOMIC STRATEGY AS A
CITY-WIDE EFFORT
Perhaps the most essential component of a
successful economic development strategy is
its implementation, which involves building
awareness, alignment, and an activation plan
for City employees involved in supporting the
business community. Thus, the successful
implementation of the Economic Development
Strategic Plan reinforces the importance that
each department fully embraces a shared
vision. For example, each department may
identify the specific, relevant elements within
the plan that allows them to regularly and
meaningfully act in concert with the plan’s
intention.
To fully and successfully implement the plan,
the three guiding principles used to develop
the plan’s goals and objectives must drive its
implementation, as well as the appropriate
resources and staffing that support it.
Communicating these principles and
engaging a cross-section of employees who
serve businesses in the City will maximize the
return on the new economic plan. The three
principals are:
1. Succeed through Speed
Streamline actions, processes,
updates, approvals, requests, and
expectations to establish the delivery
of information, decisions, and results
with greater predictability and
reliability.
2. Strategic Communication
and Engagement
Engage key stakeholders to support
the City’s growth sectors, enabling
them to continue to thrive here.
3. Future Focus
Anticipate an ever-changing
landscape, so the City can nimbly
respond to industry shifts while also
developing and leveraging new
insights and innovative approaches to
the City’s economy.
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A core principle in developing this Economic Development Strategic Plan was the engagement of stakeholders through various means. From one-on-one interviews to group sessions to workshops both online and in-person, this effort was based on the insights and expertise of stakeholders both inside and outside of the City. Overall, the planning team met and solicited input from more than 100 stakeholders, as follows:
STAKEHOLDER ENGAGEMENT
City of Burbank
Nick Schultz, Burbank City Council, Mayor
Nikki Perez, Burbank City Council, Vice Mayor
Konstantine Anthony, Burbank City Council
Zizette Mullins, Burbank City Council
Tamala Takahashi, Burbank City Council
Justin Hess, City of Burbank
Courtney Padgett, City of Burbank
Patrick Prescott, City of Burbank
Marisa Garcia, City of Burbank
Elizabeth Goldman, City of Burbank
Fred Ramirez, City of Burbank
Judie Wilke, City of Burbank, Retired
City of Burbank Executive Team Members
A SNAPSHOT OF
BURBANK’S ECONOMY
The City of Burbank is located in east San Fernando Valley at the foothills of the Verdugo Mountains and is surrounded by the City of Los Angeles on three sides – north, west, and south. The cities of Glendale and Pasadena are situated east of Burbank. Burbank’s proximity to Los Angeles has long-attracted major corporations. Its early real estate boom in the 1920s and 1930s paved the way for much of the City’s current economic makeup and success. Burbank’s first major commercial and residential land development project, Magnolia Park, was built in the early 1920s and paved the way for large corporations to arrive, including Warner Brothers, Lockheed, and Disney. Burbank Airport opened in 1930 and, today, continues to be one of Burbank’s greatest economic assets.
Today, Burbank is a World Class City dubbed the “Media Capital of the World” and is home to major animation and entertainment companies like Warner Bros Discovery (10,000 employees), The Walt Disney Company (7,800 employees), Nickelodeon Animation Studio (900 employees), and Netflix (850 employees).
The media and entertainment industry cluster in Burbank includes both large and small employers that provide business-to-business (B2B) and supply chain goods and services, including those provided by companies like Cast & Crew
1 (800 employees) and Deluxe Shared Services (700 employees). Together with other job clusters in the City, Burbank is home to a local workforce of 182,000 while the City’s residential population is 105,357. This balance of workforce, residential, and visitor populations in the City creates a robust demand for shopping, dining, and entertainment amenities throughout the community. It is not by coincidence that Burbank is home to the largest IKEA in North America.
However, the media and entertainment industry, like any other industry, is susceptible to change and risks. A recent example is the 2023 Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strike. While the main issues involved pay and working conditions, artificial intelligence (AI) was another important concern and is an example of how technological innovation can create economic disruption, both good and bad. The diversification of the City’s industry clusters and target markets is necessary to grow and sustain a resilient economy and business base.
HOLLYWOOD BURBANK AIRPORT
Hollywood Burbank Airport serves the northern
Greater Los Angeles area and is known as “the
friendliest, most convenient airport for flying
to or from Los Angeles, Hollywood, and the
San Fernando Valley.”
2 The 232,000 square-foot
terminal serves 5.9 million passengers annually.
Cargo operations also support 89 million pounds
of cargo annually. The Airport’s economic activities
(e.g., onsite airport revenues, onsite tenant
activities, offsite spending of passengers and
flight crew) translate into economic output locally
and regionally which also translates into local tax
revenues in Burbank and surrounding cities. A
2014 Economic Impact Analysis report prepared by
the Los Angeles County Economic Development
Corporation (LAEDC) estimated that the airport’s
total countywide economic impact in FY 2013 was more than $1.6 billion, generating $43.3 million in property taxes and $41.6 million in sales taxes countywide. On January 25, 2024, the Authority broke ground on its new 14-gate replacement terminal, which will increase its use and economic potential.The new replacement terminal is slated to be completed by October 2026. 1 Approximately half of which are working remotely.
2 hollywoodburbankairport.com
7 Organizations and Groups:
Burbank Arts Commission
Burbank Disabilities Commission
Burbank Hospitality Association
Burbank Chamber of Commerce
City of Burbank Development Oversight Committee
Community Workshop (online)
Community Workshop (in-person)
Downtown Burbank Partnership
Magnolia Park Merchants Association
Individuals:
George Bandarian, Untapped
Laura Biery D’Ambrosia, City of West Hollywood
Sonya Blake, Valley Economic Alliance
Michael Cusumano, Cusumano Real Estate
Marc Gangi, Gangi Architects
John Gerro, Property Owner
Robbie Gluckson, UCLA Health
Paul Herman, Herman Company
Karl Keeler, Providence Health
Paolo Kespradit, City of West Hollywood
Jamie Keyser, Burbank Chamber of Commerce
Danny Khan, Warner Bros. Studio Tour
David Knight, Angel City Data
Ruth Martinez, City of Pasadena, Retired
Kevin McCarney, Poquito Mas
Jim O’Neil, Crown Realty
Lisa Pitney, Disney
Greg Reeves, IATSE Local 728
Chris Rizzotti, Burbank Planning Commissioner
Leslie Simmons, Animation Guide, IATSE 839
Ted Slaught, Property Owner
Alan Tate, Burbank Airport Marriott
Chris Tourtellotte, LaTerra Development
Soua Vang, City of Glendale
Judith Velasco, Verdugo Workforce Board
Michael Walbretch, Warner Bros. Discovery
Economic Development Strategic Plan
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QUALITY OF LIFE IN BURBANK
Burbank is a full-service City with its own Police and
Fire Departments, public transit (BurbankBus), and
utilities (Burbank Water and Power). The Burbank
Unified School District is one of the highest
achieving and most competitive school districts
in the Los Angeles area, creating housing demand,
especially among young professionals and families.
Burbank’s employment opportunities, high
quality public schools, multimodal transportation
access (air, rail, road), and competitive location
in the Los Angeles metropolitan area drive its
population growth and demand for residential and
commercial land uses.
2 min
59 sec
Burbank Police
Response Time
6 min
48 sec
Burbank Fire
Response Time
$1,128,000
Burbank’s
Median Home Price
$872,399
L.A. County’s
Median Home Price
While the strategic initiatives of economic development focus on business attraction, business retention and expansion, cultivating entrepreneurship, and promoting tourism, economic development is not just the business of one division or department in a City. It is a citywide effort to create a robust and resilient economic ecosystem and community foundation that fosters a high quality of life for its residents, businesses, and visitors. It is the public investment of resources to strategically intervene in the private market to attract capital investment into the community. This includes:
Land Use Planning
Establishing a progressive and time-relevant
land use planning framework that streamlines
entitlement approvals while reducing developer
risk attracts capital investment and land
development. The City is simultaneously preparing
three separate specific plans for its commercial
districts: (1) Golden State Specific Plan; (2)
Downtown Burbank Specific Plan; and (3) Media
District Specific Plan Update. These specific plans
will pave the way for new development activities
that implement the 2035 General Plan. The
specific plan processes include the preparation of program-level Environmental Impact Reports (EIRs) for each specific plan that will allow landowners and developers to rely on the City’s EIRs to satisfy the California Environmental Quality Act (CEQA), which will significantly reduce time, costs, and legal risks.
Burbank’s Economic Development Team will play a key role in working collaboratively with the City’s development services departments/divisions to implement these specific plans.
Public Infrastructure Planning and Projects
Reliable and accessible public infrastructure,
including utilities (water and power), transportation
(roads and transit), and telecom (broadband access
and reliability), is critical to supporting existing
commerce and attracting new capital investment
and land development opportunities. In June
2020, the City adopted the Complete Streets Plan
to implement the Mobility Element of the 2035
General Plan. The Complete Streets Plan takes a
holistic approach to transportation planning on
Priority Streets and Focus Areas and sets forth
short-, mid-, and long-term priority projects that
seek to accomplish 10 mobility goals citywide.
Addressing Homelessness
The City recently adopted a Five-Year Homelessness Plan (FY 2022-23 through FY 2027-28) that builds on the successes of several programs the City has already implemented in prior years to address homelessness. Homelessness is a complex issue that requires the close collaboration and coordination of federal, state, local, and nonprofit stakeholders. The Five-Year Homelessness Plan gives the City a “Strategic Playbook” focused on six action areas: capacity building, advocacy, access/outreach/engagement, shelter and housing accessibility, health and stabilization, and homelessness prevention. These action areas will house the unhoused, improve the quality of life for unhoused neighbors, and promote clean and safe environments to live, work, and play in Burbank.
Housing
Housing production across all income levels in the City addresses the importance of affordable housing in addressing homelessness, supplies workforce housing to support commerce, develops underutilized land, increases the City’s property tax base, and creates jobs. The City adopted its 2021-2029 Housing Element in September 2022 based on a Regional Housing Needs Assessment (RHNA) allocation of 8,772 housing units, and the Council adopted a goal of 12,000 units by 2035. The Housing Element identified projects with entitlements/pending entitlements totaling 2,361 new housing units, 374 of which would be restricted to lower income individuals and families. Much of this progress can be attributed to the City Council’s intentional action to prioritize housing in 2017 when it approved the Burbank Housing Analysis and Strategy. From 2011 to 2016, 16,688 new jobs were added in Burbank. During the same time, only 294 units were built and only 55 were built from 2011 to 2016.
Workforce
Burbank has a thriving workforce of more than 180,000
individuals who work in diverse sectors. The top sector is entertainment with five times the number of jobs
as the next largest employment sector, healthcare
services. Other key employers are in the tech sector and professional services, followed by retail and hospitality.
The City is part of the Verdugo Workforce Development
Board, which provides resources to jobseekers including training and placement, and supports local businesses
by developing a qualified workforce for open positions.
Job Connect Plus is housed in the Burbank Central
Library to support this effort, along with their SPARK
Media Lab, which provides tools and resources for
those working to hone their skills. Job Connect Plus is a participant-driven enhanced workforce development
program coordinated by Burbank Public Library, in which cohorts of adult job seekers set career goals and receive training, peer support, and mentorship in achieving those goals. The program is currently funded by a US Small Business Administration grant through June 2025.
BURBANK’S ECONOMIC DEVELOPMENT IN THE CONTEXT OF LOS ANGELES Another component of economic development in Burbank is its location. In addition to the geographic benefit of being centrally located in Los Angeles County, this also poses a challenge of being adjacent or in close proximity to other cities actively working to strengthen their own economic positions. While there is the opportunity to collaborate with neighbors like Glendale and Pasadena, the robust services and resources allocated to economic development in neighboring cities and relatively proximate locations like Glendale, Pasadena, Santa Clarita, Culver City, West Hollywood, and even the City of Los Angeles require Burbank to proactively engage in activities to retain and support existing businesses, as well as actively recruit new ones. Burbank must extoll its unique positioning that differentiates Burbank in a competitive region.
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Balancing the full scope of current economic development activities with the requirement to enlarge the capacity for economic development fulfills Burbank’s potential and enhances its ability to remain competitive in the region. Six essential goals provide the framework and priorities for prudently activating the City’s resources and personnel. The goals are based on best practices, insights from key stakeholders, and the input from expert sources with experience in key areas.
When successfully enacted, the realization of the six goals will deliver critical outputs to begin the desirable diversification of Burbank’s economy while maintaining and growing both high paying jobs as well as more fully building out the entrepreneurial ecosystem. In alignment with the treasured legacy of preserving the unique character of Burbank, these goals provide the incentives for larger companies and innovative start-ups to locate and grow in a supportive environment that is structured for success across sectors, size, and other key metrics. Overall, these goals and the cascading tactics seek to increase the tax base that supports the premium services that form the esteemed reputation that Burbank enjoys. With this plan enacted, the strong and resilient Burbank economy will continue to support a strong, growing community as conditions in the City, region, and state transform over the next several years.
Hence, to preserve legacy services as well as provide the future focused services required to keep Burbank at the forefront as a competitive City regionally, below are the six essential goals and their cascading tactics.
BURBANK’S ECONOMIC
DEVELOPMENT GOALS
GOAL 1:
Streamline the permitting process to enhance the opening of new businesses and the expansion of existing businesses From business owners seeking to open, developers investing in the City, and existing business owners making small improvements, the number one issue raised is the time it takes to get through the permit process. While processing is influenced by perception, that reputation is essential to attracting additional investment in the City. Focused attention on speed, communication, reliability, and predictability will remind businesses why doing business in Burbank is the right decision.
OBJECTIVES:
1. Establish a Business Concierge Liaison in the Economic Development Division to create a business assistance concierge cabinet of all City departments that meets monthly, to track projects and move them forward, thus reducing the time it takes for permits to be issued.
2. Establish a liaison who can work directly with the City Manager’s Office to accelerate opening, expanding, remodeling, and other property improvements and updates.
3. Develop and implement a training program for all related City staff/contractors focusing on steps to improve permit timeliness and assist with critical development projects.
4. Enhance Business Concierge Services to include working with the Mayor/Council and City Manager to actively recruit potential businesses (“roll out the red carpet”).
Intended Results:
By increasing the speed of businesses opening or expanding in Burbank, the City will solidify its reputation as an ideal place for business growth and success. This will also increase the predictability of business timelines and reliability of City government to process projects and permits. In addition, this should have the effect of restructuring the current perception that the City process is untimely.
GOAL 2:
Optimize occupancy of vacant
or underutilized spaces to
maximize City revenues and
opportunities
Stakeholders across the City identified issues
related to underutilized space and vacant parcels,
including the former IKEA location, the mall,
and the Starlight Bowl. These spaces blight the
City or fail to produce the revenue that would be
generated if utilized optimally.
OBJECTIVES:
1. Identify the top 5 to 10 underutilized parcels/
spaces in the City and target them for use for
clean tech, health science, higher education,
and other targeted uses.
2. Investigate the feasibility of further
activation of the Starlight Bowl as a cultural
tourism destination (also related to Goal 4,
Objective 3a).
Intended Results:
Activating three strategically selected
underutilized parcels aligns with the City’s
commitment to address community requests
to “do something” about the empty properties
and the economic blight they represent. This may generate substantial revenue through direct tax generation as well as attract a greater influx of visitors, thereby increasing consumer spending within the City.
GOAL 3:
Focus on innovation to ensure a vibrant, growing economy The future of the Burbank economy hinges on the adoption of innovative technology and forward-thinking processes to attract sustainable, growth-oriented enterprises.
OBJECTIVES:
1. Launch a Burbank-centric incubator/accelerator space to support the growth of top industries including tech/AI/creative and related sectors, with local investor/corporate involvement and local leadership, to retain them in Burbank as they succeed.
2. Establish a stakeholder group managed by Economic Development to attract funding and incentives to develop an incubator/accelerator in Burbank.
3. Advocate for technology solutions to streamline permit processes, including special events [also serves Goal 1].
Intended Results:
By “home-growing” and supporting the expansion of businesses through a funded, City-run incubator/accelerator, the City will expedite the creation of an ecosystem/hub of technology and AI that builds on the success of growth industries, allowing businesses that seek to remain in Burbank to thrive.
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3. Tourism Sector
a. Conduct a positioning study that identifies a unique selling proposition for Burbank when compared to other cities in Southern California.
b. Invest in a “clean and safe” marketing campaign (with additional attributes identified from the positioning study) for visitors coming to Southern California, so they see Burbank as the ideal hub for their visit.
c. Reimagine a Burbank circulating trolley to move visitors and guests from hotels to business districts and attractions.
d. Utilize and promote vacant space for pop-ups featuring temporary exhibits, cultural encounters, and other experiential activities.
e. Streamline the management of special events permit process. f. Support development of the National Animation Museum in Burbank. g. Develop a Property-based Business Improvement District in Magnolia Park. h. Collaborate with Park and Recreation and Library Services to create a formalized, robust arts program.
i. Increase transient occupancy tax rate to be aligned with neighboring jurisdictions.
4. Higher Education Sector
a. Convene a higher education working group to identify opportunities to attract and support Burbank’s emerging subsectors.
b. Facilitate the multiple universities that currently have satellites to expand with a multi- functional educational presence.
Intended Results:
1. Support the creative economy by increasing the number of employees in technology ventures aligned with it, including animation, gaming, visual effects, AI, and AR by 1-2%
2. Increase the number of healthcare and bioscience-related companies in Burbank to solidify a nationally recognized, specialized ecosystem.
3. Increase Transient Occupancy Tax revenue 1-2% year over year which will add additional funding to support and grow tourism in the City.
4. Open or expand at least one higher education facility in Burbank, creating a greater skilled workforce for the City’s high-quality jobs and creating a space for skills training to support the other industries within this plan.
GOAL 4:
Retain and expand Burbank’s leading and emerging industries to balance the future economy: Creative, Healthcare, Tourism, and Education
While we value entertainment and media as the stalwart legacy industry within the Creative Sector in Burbank, emerging sectors provide new opportunities to attract businesses that bring additional investment and increased economic stability. By actively growing a balanced portfolio of secondary industries, the City will be more diversified and, therefore, more resilient.
OBJECTIVES:
1. Creative Economy Sector
a. Leverage the strength of the existing creative sector — including the entertainment industry — for growth, visibility, and respect for the legacy of our City’s economy. b. Convene a creative economy working group to identify emerging needs and create the environment to attract and support emerging subsectors. c. Designate a media sector liaison to coordinate programs, events, and services, to proactively reach out to media-related companies in the City. d. Pursue local and state incentives to retain animation industry jobs in Burbank to complement the California Film Industry tax credit.
2. Healthcare Sector
a. Create a health science research and development ecosystem, building on UCLA’s presence, other academic institutions, and trials currently conducted at Providence St.
Joseph Medical Center.
b. Convene a health science working group to identify emerging needs and create the environment to attract and support emerging subsectors. c. Identify underutilized space ideally suited for a future consolidation of health science ventures, trials, programs, and conferences [also Goal 2]. 13Economic Development Strategic Plan 14 Economic Development Strategic Plan ATTACHMENT 1 - 8
GOAL 5:
Increase the resources to support diverse, independent small businesses
Small businesses provide diversity and uniqueness to the Burbank community. With their mission to serve the local community and the special value of lending well-known charm and character to the City, these small businesses have few resources to sustain themselves or grow.
OBJECTIVES:
1. Develop a formal small business assistance program funded through the general fund and with future funds and resources available for small businesses from local, state, federal, non-profit, and academic partners.
2. Utilize the appointed Business Concierge Liaison to oversee and support small and micro businesses, from opening to expansion.
3. Develop retail incubation spaces and “maker spaces” to grow micro and entrepreneurial businesses, and facilitate the ability for others to do the same.
4. Develop a Burbank-specific resource guide to assist small business reach goals as related to DEI (as described in Appendix B), sustainability, and workforce.
5. Explore offering low- or no-interest loans or grants for tenant improvements and facade improvements to attract businesses to the City, especially Downtown Burbank and Magnolia Park.
6. Manage parking to increase turnover and offer better customer experience.
Intended Results:
Support and assist 100 small businesses each year to increase their staying power in the City and demonstrate to other small businesses that Burbank is the right choice for them, which will fill vacancies in the City’s unique business districts.
GOAL 6:
Market Burbank to attract businesses and employees
Segment marketing to those who want to work here or open/relocate their business here is essential to attract the types of businesses targeted in this plan. This effort should leverage Burbank’s current assets and take them to the next level.
OBJECTIVES:
1. Re-invigorate the Choose Burbank website by adding short videos and creative content that showcase the ecosystem for businesses and amenities for employees, with assets featured including shopping, dining, recreation, lifestyle, quality of services, and other elements of employee satisfaction.
2. Develop new collateral materials and marketing campaign to attract businesses.
3. Create use cases and testimonials that reflect all levels of business success.
4. Coordinate with international Sister Cities to promote Burbank for relocation and investment.
5. Develop a Foreign Direct Investment (FDI) engagement program with key partners and City staff to encourage discovery visits and relocation.
6. Enhance the relationship with the Verdugo Workforce Board to create a stronger workforce.
Intended Results:
Focused, ongoing business attraction efforts, which would increase inquiries from businesses via the
Choose Burbank website by 20%, thereby increasing new businesses opening in Burbank and bringing more livable wage jobs to the City.
STAFFING ANALYSIS
AND RECOMMENDATIONS
CURRENT ACTIVITIES
In pursuit of economic vibrancy and stability, the
Burbank Economic Development team takes the lead
in attraction, retention, and expansion of businesses,
promoting and growing entrepreneurship, and
enhancing tourism for the City. Fulfilling these
mission-critical objectives and the myriad of related
tasks, including the management and operations
of two business improvement districts (BIDs),
coordinating with stakeholders, strategic partners,
and departments within the City, and keeping all
abreast of progress and priorities, currently falls on
four individuals who form the Economic Development
team. All of these activities will continue to be
essential elements of the ongoing success of the
team’s mission. The upcoming strategic plan will add
a significant number of new goals, objectives, and
tasks that will require more team members and a
new structure to manage the team so outcomes are
achieved in a timely manner.
With the limited investment in Economic
Development, the City has seen remarkable results.
Sales tax and property tax revenues continue to
increase year over year with $61,697,887 received
in FY22/23 for sales tax and $69,425,311 received in
property tax revenues, both of which are projected
to increase in FY 23/24. The increase in property tax
can be attributed to the increase in development of
mixed-use and hotel projects in the City. The City has
added 150 new hotel rooms in 2023 alone, with 307
under construction. In the past year alone, Transient
Occupancy Tax has generated more than $12 million
in revenues for the City. Because of investments
in economic development throughout the years,
Burbank can boast that its AMC Theatres rank in the
top three AMCs globally, and the Empire Center is the
sixth most visited shopping center in the nation. As
we continue to emerge from the global pandemic, it
is imperative that these efforts continue and expand.
In 2023, the Burbank Economic Development team
continued to provide these essential services: Business Attraction, Business Retention, Entrepreneurship
Promotion and Growth, and Tourism Enhancement.
While each of these service areas uniquely contribute
to the City’s economic growth, the tactics are
multifunctional in that a given tactic may support
more than one of the essential services.
15Economic Development Strategic Plan 16 Economic Development Strategic Plan Photo Credit: AMC Theaters
ATTACHMENT 1 - 9
Business Attraction
The Economic Development team is actively involved in attracting new businesses to Burbank, which is an essential component of building neighborhood character and vibrancy, as well as maintaining sales tax revenue. To attract new businesses to the City, the Economic Development Team (ED Team) provides a number of resources to assist with site selection, marketing analysis assistance, and connection to resources.
1. For businesses, real estate professionals, retail executives, and developers looking to relocate to Burbank, the ED Team delivers detailed statistics, specific sites, and appropriate commercial neighborhoods.
2. For property owners, the ED Team markets available opportunity sites and properties to potential developers and brokers, creates broker-focused events and marketing campaigns, and attends broker outreach and retail attraction-focused events.
3. To market business resources and programs offered by the City and the Burbank Chamber of Commerce, the ED Team delivers the Welcome to Burbank Program. New businesses receive a “welcome” certificate, email, and a letter with information about business resources and contact information.
4. To fill vacancies, the ED Team actively pursues more than 100 retail/restaurant concepts annually and matches them with existing vacant locations citywide.
5. To target decision-makers, developers, and brokers by using publications that include Western Real Estate, Shopping Center Business, CA Centers Magazine, and the Los Angeles and San Fernando Valley Business Journals, the ED Team creates annual advertising campaigns.
6. For businesses and developers during the City’s entitlement process, the ED Team provides business concierge services to offer guidance and assistance in support of their needs and requirements.
7. To connect businesses with local, county, state, and federal resources and programs, in partnership with the Burbank Public Library, the ED Team facilitates one-on-one consulting services led by experts from SCORE, a nonprofit organization and resource partner of the US Small Business Administration (SBA).
Business Retention
As important as attracting new businesses, supporting and retaining existing businesses are critical to a vibrant economy because they provide stability to business districts and develop the base of customers that allows for economic growth. To retain businesses in Burbank, the Economic Development Team provides a number of programs related to marketing and social media, business concierge services, and connections to resources. For these businesses, the Economic Development team:
1. Assists small businesses with advertising to support local shopping and dining.
2. Creates dedicated digital and social media marketing campaigns promoting restaurants, entertainment, shopping, and events.
3. Supports commercial districts such as Magnolia Park, the Media District, Downtown Burbank, and the Airport District with marketing, social media, holiday decor, and ongoing business support.
4. Manages the City’s investment of $1million in one time funding for improvements to infrastructure and maintenance in Downtown Burbank, including irrigation repairs and replanting, improvements to alleys and paseos, and the purchase of barricades for event street closures.
5. Preserves and improves the aesthetics of Downtown through capital improvement enhancements to maintenance, holiday décor, infrastructure, and landscaping.
6. Manages the Special Events Process to streamline events and attract more visitors to Burbank.
7. Provides a Business Concierge Program to offer personal attention to businesses by helping them navigate through the City’s entitlement process, with assistance in site selection, zoning, and permitting for improvements and expansion.
8. Connects businesses with local, county, state, and federal resources and programs. Facilitates one- on-one consulting services for businesses led by experts from SCORE, a nonprofit organization, and a resource partner of the US Small Business Administration (SBA).
9. Supports al fresco dining parklets and outdoor dining on private property, allowing restaurants to expand their dining areas and creating more opportunities for guests.
Entrepreneurship Promotion and Growth
Fostering entrepreneurship creates more home-grown businesses that will stay and grow in Burbank, as well as signals to other start-up companies that Burbank is the ideal place to locate. To grow the entrepreneurial ecosystem and attract more start-up businesses in Burbank, the Economic Development team creates educational and networking opportunities with the goal of making Burbank a destination for innovative businesses, coupled with its business support services. This includes:
1. Burbank Tech Talks: The principal program fostering entrepreneurship and encouraging the next generation of startups since 2016 is Burbank Tech Talks. The program consists of networking events and pitchfests aimed at connecting tech pioneers and emerging talent with top venture capitalists and tech visionaries to attract creative companies to Burbank. This past year, Burbank Tech Talks also held an event in partnership with LA Tech Week.
2. Startup Academy Burbank: Launched in 2023, the Startup Academy Burbank is an online program for early-stage startups and founders to help them build a successful venture-scale “ready to launch” enterprise.
3. Pitchfest: This annual event attracts hundreds of submissions from start-ups in tech to pitch their ideas to a panel of esteemed judges for a chance to obtain additional mentorship and funding.
4. Upstart Valley: Burbank Economic Development joined forces with the City of Glendale to launch the two cities’ centrality as a regional technology powerhouse. Formally branded as Upstart Valley, this regional economic development partnership supports startups, entrepreneurs, and the tech industry at large with resources, networking events, workforce development, and access to regional partners.
5. The Economic Development Team facilitates one-on-one consulting services for businesses led by experts from SCORE, a nonprofit organization, and a resource partner of the US Small Business Administration (SBA), and connects businesses with local, county, state, and federal resources and programs.
Tourism Enhancement
As noted above, tourism continues to be an economic engine that has seen results as the City emerges from the pandemic. Strong returns in sales tax and transient occupancy tax from tourism spending continue to fund the quality of life that, in turn, attracts more visitors, businesses, and residents. The Economic Development Team manages and operates the City’s two business improvement districts known as the Downtown Burbank Property-Based Business Improvement District and the Tourism Business Improvement District, which generate additional resources for this important work. This includes:
1. Digital advertising campaigns targeting leisure travelers in drive-time and nonstop feeder markets into Hollywood Burbank Airport.
2. Leisure and group business outreach through third-party collaborations with Universal Studios Hollywood and Hotelplanner.
3. Sponsorship to attract conferences and events generating overnight stays such as A&R Worldwide’s MUSExpo Creative Summit; CTN Animation eXpo; Arts, Media, and Entertainment (AME) Institute, and AfroAnimation Summit.
4. Social media, influencer campaigns, and media visits communicating Burbank’s appeal to diverse audiences.
5. Destination development projects that enhance the visitor experience, including:
a. Equipping each hotel with One Burbank High-Speed Fiber Optics Internet Service for hotel guests and,
b. Creating monumental, iconic superhero statues that enhance social media awareness and generate buzz such as the Batman statue, the recently added Wonder Woman statue, and upcoming Green Lantern statues.
6. Creating dedicated digital and social media marketing campaigns to promote restaurants, entertainment, shopping, and events.
7. Sponsoring and attracting events such as the Burbank Comedy Festival, Burbank International Film Festival, Winter Wine Walk, Downtown Arts Festival, Burbank Cultural Market, and the Farmer’s Market.
8. Enhancing safety and providing hospitality and social outreach services through the StreetPlus Ambassador Program in Downtown Burbank.
9. Preserving and improving the aesthetics of Downtown through enhancements to holiday décor, infrastructure, landscaping, and maintenance.
17Economic Development Strategic Plan 18 Economic Development Strategic Plan ATTACHMENT 1 - 10
FUTURE STAFFING
AND FUNDING NEEDS
To successfully achieve the goals and
objectives
set for th in the Plan, additional
staff and a new Economic Developme nt
Team
organizational structure will be
needed.
Coordination, supervision, and
implementation
oversight of programs will
be
critical to the Plan’s success. Furthermore,
one-time
funding will be required to carry out
the Plan’s aggre ssive projects.
At the same time, this is a five-year plan, which
means
that staf f will consider how goals,
objectives, and resources are incorporated
into the annual budgets based on
needs,
urgency, and citywide funding proje ctions.
This will include future funding for specific
projects and corresponding implemen tation
of
staff. Needs will be reviewed annually with
the
budget cycle an d through staff’s work
with the
City Manager’s Office.
COMPARATIVE ANALYSIS OF STAFFING IN OTHER CITIES
Burbank’s current staffing plan is the lowest compared to staffing levels in neighboring cities, including Glendale, Pasadena, and Santa Clarita. Notably, according to Glendale’s FY 2023-24 Adopted Budget, salaries and benefits in its Economic Development Division doubled from $711,420 in FY 2021-22 (actual) to $1,427,775 in FY 2023-24 (budgeted). This coincides with the City’s adoption of its first Economic Development 3-Year Strategic Plan (2022-2025) in 2022, which recognizes the investment Glendale needed to make to implement its strategic plan. Burbank’s current staffing levels for its Economic Development section are grossly disproportionate to its neighboring cities. Below is a comparative table of the four cities.
TIMELINE FOR
IMPLEMENTATION
Objective
Start
Objective
End
New
Staffing
Positions
Funding
Needs
Goal 1: Streamline the permitting process to enhance the opening of new businesses and the expansion of existing businesses.
Objective 1.1 Establish a Business Concierge Liaison in the Economic Development Division to create
a business assistance concierge cabinet of
all City departments that meets monthly, to
track projects and move them forward, thus
reducing the time it takes for permits to be
issued.
FY 24/25 ongoing Senior
Analyst
Staff
Objective 1.2 Establish a liaison who can work directly with the City Manager’s Office to accelerate
opening, expanding, remodeling, and other
property improvements and updates.
FY 24/25 ongoing Senior
Analyst
Staff
Objective 1.3 Develop a training program for all related City staff/contractors focusing on steps to
improve permit timeliness and assist with
critical development projects.
FY 24/25 ongoing Senior
Analyst
Staff &
Programs
Objective 1.4 Enhance Business Concierge Services to
include working with Mayor/Council and
City Manager to actively recruit potential
businesses (“roll out the red carpet”).
FY 24/25 ongoing Senior
Analyst
Staff
Goal 2: Optimize occupancy of vacant or underutilized spaces to maximize City revenues and opportunities.
Objective 2.1 Identify the top 5 to 10 underutilized parcels/ spaces in the City and target them for
use for clean tech, health science, higher
education, and other targeted uses.
FY 24/25 Q1 - 2025 Senior
Analyst
Staff
Objective 2.2 Investigate the feasibility of further
activation of the Starlight Bowl as a cultural
tourism destination (also related to Goal 4,
Objective 3a).
FY 24/25 Q1 - 2026 Existing
Staff
No Funding
Needed
Goal 3: Focus on innovation to ensure a vibrant, growing economy.
Objective 3.1 Launch a Burbank-centric incubator and
accelerator space to support the growth of
top industries including tech/AI/creative and
related sectors, with local investor/corporate
involvement and local leadership.
FY 26/27 ongoing Senior
Analyst
Staff &
Program
Funding
Objective 3.2 Establish a stakeholder group managed by
Economic Development to attract funding
and incentives to develop an incubator/
accelerator in Burbank.
FY 24/25 ongoing Senior
Analyst
Staff
Objective 3.3 Advocate for technology solutions to
streamline permit processes, including
special events [also serves Goal 1].
FY 24/25 ongoing
until
complete
Asst.
Director
Staff
Note: All new goals and objectives assume an Assistant Director to oversee the programs continued on the next page
19Economic Development Strategic Plan 20 Economic Development Strategic Plan ATTACHMENT 1 - 11
Objective
Start
Objective
End
New
Staffing
Positions
Funding
Needs
Goal 4: Retain and expand Burbank’s leading and emerging industries to balance the future economy.
Objective 4.1 Creative Economy Sector
4.1a Leverage the strength of the existing
creative sector for growth, visibility, and
respect for the legacy of our City’s economy.
FY 25/26 ongoing Admin
Analyst II
Staff
4.1b Convene a creative economy working group
to identify emerging needs and create
the environment to attract and support
emerging subsectors.
FY 25/26 ongoing Admin
Analyst II
Staff
4.1c Designate a media sector liaison to
coordinate programs, events, and services,
to proactively reach out to every media-
related company in the City.
FY 25/26 ongoing Admin
Analyst II
Staff
4.1d Pursue local incentives to retain animation
industry jobs in Burbank to complement the
California Film Industry tax credit.
FY 25/26 ongoing
until
complete
Admin
Analyst II
Staff
Objective 4.2 Healthcare Sector
4.2a Create a health science research and
development ecosystem, building on UCLA’s
presence, other academic institutions, and
trials currently conducted at Providence.
FY 26/27 ongoing Admin
Analyst II
Staff
4.2b Convene a health science working group
co-chaired by UCLA and Providence
to identify emerging needs and create
the environment to attract and support
emerging subsectors.
FY 25/26 ongoing Admin
Analyst II
Staff
4.2c Identify underutilized space ideally suited
for a future consolidation of health science
ventures, trials, programs, and conferences
[also Goal 2].
FY 25/26 Q3 - 2026 Admin
Analyst II
Staff
Objective 4.3 Tourism Sector
4.3a Conduct a positioning study that identifies
a unique selling proposition for Burbank
when compared to other cities in Southern
California.
FY 24/25 Q2 - 2026 Admin
Analyst I
Program
Funding
4.3b Invest in a “clean and safe” marketing
campaign (with additional attributes
identified in positioning study) for visitors
coming to Southern California, so they see
Burbank as the ideal hub.
FY 24/25 ongoing Admin
Analyst I
Program
Funding
4.3c Reimagine a Burbank circulating trolley
to move visitors and guests from hotels to
business districts and attractions.
FY 25/26 Q1-2026 Existing
Staff
Program
Funding
4.3d Utilize and promote vacant space for pop-
ups featuring temporary exhibits, cultural
encounters, and other experiential activities.
FY 24/25 ongoing Admin
Analyst I
Program
Funding
4.3e Streamline the management of special
events permit process.
FY 24/25 ongoing Existing
Staff
None
4.3f Support development of the National
Animation Museum in Burbank.
FY 24/25 ongoing
until
complete
Existing
Staff
None
continued on the next page
Objective
Start
Objective
End
New
Staffing
Positions
Funding
Needs
4.3g Develop a Property-based Business
Improvement District in Magnolia Park.
FY 24/25 Q1-2026 Existing
Staff
None
4.3h Collaborate with Park and Recreation and
Library Services to create a formalized,
robust arts program.
FY 24/25 ongoing Existing
Staff
None
4.3i Increase transient occupancy tax rate to be
aligned with neighboring jurisdictions.
FY 25/26 ongoing
until
complete
Existing
Staff
None
Objective 4.4 Higher Education Sector
4.4a Convene a higher education working group
to identify opportunities to attract and
support Burbank’s emerging subsectors.
FY 25/26 ongoing Admin
Analyst I
Staff
4.4b Facilitate the multiple universities that
currently have satellites to expand with a
multi-functional educational presence.
FY 25/26 ongoing Admin
Analyst I
Staff
Goal 5: Increase the resources to support diverse, independent small businesses.
Objective 5.1 Develop a formal small business assistance program funded through the general
fund and with future funds and resources
available for small businesses from local,
state, federal, non-profit, and academic
partners.
FY 27/28 ongoing Senior
Analyst
Staff &
Program
Funding
Objective 5.2 Utilize the appointed Business Concierge
Liaison to oversee and support small
businesses, from opening to expansion.
FY 24/25 ongoing Senior
Analyst
Staff
Objective 5.3 Develop retail incubation spaces and “maker spaces” to grow micro and entrepreneurial
businesses.
FY 26/27 ongoing
until
complete
Senior
Analyst
Staff &
Program
Funding
Objective 5.4 Develop a Burbank-specific resource
guide to assist small business reach DEI,
sustainability, and workforce goals.
FY 26/27 Q4 -2025 Admin
Analyst II
Staff &
Program
Funding
Objective 5.5 Explore offering low- or no-interest loans or grants for tenant improvement and facade
improvements to attract businesses to the
City, especially Downtown Burbank and
Magnolia Park.
FY 27/28 Q1 - 2031 Admin
Analyst II
Staff &
Program
Funding
Objective 5.6 Manage parking to increase turnover and
offer better customer experience.
FY 25/26 ongoing
until
complete
Existing
Staff
Staff &
Program
Funding
Goal 6: Market Burbank as a destination for businesses and employees.
Objective 6.1 Re-invigorate Choose Burbank by adding
short videos and creative content that
showcase the ecosystem for businesses
and amenities for employees, with assets
featured including shopping, dining,
recreation, lifestyle, quality of services, and
other employee satisfaction.
FY 24/25 Q3 - 2025 Admin
Analyst II
Staff &
Program
Funding
Objective 6.2 Develop collateral materials and an
influencer/social media campaign to attract
businesses.
FY 24/25 Q4 - 2025 Admin
Analyst II
Staff &
Program
Funding
continued on the next page
21Economic Development Strategic Plan 22 Economic Development Strategic Plan ATTACHMENT 1 - 12
Objective
Start
Objective
End
New
Staffing
Positions
Funding
Needs
Objective 6.3 Create use cases and testimonials that
reflect all levels of business success.
FY 24/25 ongoing Admin
Analyst II
Staff &
Program
Funding
Objective 6.4 Coordinate with international Sister Cities to promote Burbank for relocation and
investment.
FY 26/27 ongoing Admin
Analyst II
Staff
Objective 6.5 Develop an FDI engagement program with
key partners and City staff to encourage
discovery visits and relocation.
FY 27/28 ongoing Admin
Analyst II
Staff &
Program
Objective 6.6 Enhance the relationship with the Verdugo Workforce Board to create a stronger
workforce.
FY 24/25 ongoing Existing
Staff
None
23Economic Development Strategic Plan 24 Economic Development Strategic Plan ATTACHMENT 1 - 13
OPPORTUNITIES
Avenues for positive change and growth in Burbank
• Implementation of Specific Plans upon adoption
• Fully utilize properties for development (including the mall, former IKEA location, and Empire Center) • Enhance cultural tourism potential by opening up venues that are underutilized (such as the Starlight Bowl) • Help businesses attract more customers
• Develop incubators or accelerators to support start-ups and new business growth, including an innovation commission/fund to support innovative businesses
• City services are primarily for residents and could be promoted to businesses and employees (create a welcome packet from the City for new employees)
• Use technology solutions to eliminate delays and streamline processes • Help community understand/define the level of service that can be realistically provided • Provide early communication (with longer lead times) to businesses on policies that may impact them • Educate commissions on impacts of decisions on businesses • Create more visible political leadership that shows support for current businesses and recruits new businesses • Create a true “red carpet” service (e.g., concierge service, customer service training for City Departments) to roll out to new businesses and involve all stakeholders, including the Mayor, City Council members, and City Manager • Increase the proactive and intentional outreach to targeted businesses/sectors/industries • While providing a significant “resource center” for increased business outreach and business attraction, involve more touchpoints and staff with specialized functions
• Attract more upscale/quality businesses and restaurants • Promote more filming in the City
• Enhance public infrastructure in business districts to increase walkability and customer experience • Consider a design overlay zone to support districts like Magnolia Park • Create increased demand for hotel stays (to fill the new hotels) • Offer low-interest or no-interest loans for tenant improvement to attract businesses to Downtown Burbank • Create a true business ombudsman that has the authority of the City Manager’s office to move simple and complex projects through the City process to open
• Create a City vision that developers/businesses can map onto, reducing the amount of conditional approvals and processes (e.g. Program level EIR for the Downtown)
THREATS
Pressures and actions that present obstacles to growth and development in Burbank • Competition from neighboring cities (including Glendale and Santa Clarita) that have reputations for more effective processes and greater support
• Cost of living/housing affordability impedes growth
• Hybrid and remote workers have resulted in companies no longer needing significant physical presence; thus “businesses can locate anywhere”
• Businesses require convenient location and services, without traffic delays for commutes, deliveries, and pick-ups • Unrealistic demand for City services with a lack of revenue increases to provide them • Changes in political leadership/direction may diminish the perception of continuity and detract from development • More development projects looking to streamline/fast-track using legislation (SB 35, SB 330) • A flood of ADUs are filling the permitting process pipeline and choking off capacity for other projects • State rules dictate approvals and some processes, making over-the-counter plan check much longer for previously “easy” items
• Closures of independent businesses and long-term vacancies in business districts reduce the number of customers visiting districts
• Long permitting timeline for new businesses opening with TI, signage permits, etc. may prevent small businesses from opening
• Travel to the City may be impacted by other cities’ opening local attractions, which means less people are traveling to Burbank and this region for an experience
• Business travel remains down as electronic meetings continue to replace some fraction of direct visits and face-to- face presentations/gatherings
APPENDIX A: SWOT ANALYSIS
STRENGTHS
Positive impressions associated with Burbank
• Premium City services
• Effective, well-respected Economic Development staff
• City has own water and power utility
• Preservation of neighborhood character in various residential districts (Magnolia Park, Rancho, etc.) • Prime location within the region: airport, freeways, Metrolink • Safe, small town-feel, especially because City staff and City leaders are accessible • Specific planning efforts underway with forecast for successful growth • Access to local and regional pool of labor
• Good schools with strong reputation
• No gross receipts tax
• Timely certification/adoption of Housing Element Update • Healthy business organizations like the PBID, Hospitality Association, Magnolia Park Merchants Association, and Chamber of Commerce
• City manages two well-funded BIDs
• Known as the “Media Capital of the World”
• Developing impressive tourism brand
• People want to be in Burbank
A SWOT analysis is a strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats so that at this stage an effective process can be utilized to set achievable objectives.
Strengths: These are internal attributes and resources that support a successful outcome, because it leverages what the City excels at and how it stands out from competitors. Weaknesses: These are internal factors that might hinder the achievement of an objective. Recognizing weaknesses allows the City to mitigate or eliminate barriers to success. Opportunities: These are external factors that the City could exploit to its advantage. Identifying opportunities enables the City to capitalize on external trends, market demands, or changes in the environment to grow and expand. Threats: These are external challenges that could hinder the City’s plans. Recognizing threats helps the City prepare and strategize against potential challenges that could impact its stability and growth.
WEAKNESSES
Limitations and challenges associated with Burbank
• Limited, underutilized land which prevents significant physical business growth • Staffing limitations inhibit the delivery of services and attention needed for the current and growing business community, significantly impacting planning/permitting/inspection • ADUs and large scale developments are perceived to be taking up all resources; ordinance adopted changing standards for reviewing single family residence renovations • Not enough Economic Development staff to meet current and future expectations • The success of Economic Development is reliant on other departments, and city departments don’t coordinate enough and often works in silos
• Reputation of City process (not staff) is less favorable (staffing and process issue versus a competency issue) • Permitting timelines are unpredictable and unreliable, making new business openings and expansion difficult • Optics signal that City leaders are publicly anti-business based on political statements (e.g. “Amazon Tax”) • Development projects are subjected to exactions from the dais during hearings • Perception that City commissions are not consistently or fully considering the impact of their requests and decisions on local businesses
• After development was largely dormant for a prolonged time period, the swing to more active development is a shock to many, longer tenured residents
• Housing in the downtown is insufficient to support retail desired • Job growth versus available housing presents a remarkable imbalance • Burbank’s reputation is based on media as its primary industry and a concern arises that “all eggs are in one basket”
• When large businesses are taken for granted (with the presumption that they will always be here), the City is putting itself jeopardy (e.g. the historical departure of Lockheed) • Insufficient funds available to support local events that don’t contribute towards generating hotel stays and transient occupancy taxes
• Not enough property owner alignment with the vision the City and local community leaders have for the City • Lots of vacancies spread out across the city
• No research institution in or directly adjacent the City 25Economic Development Strategic Plan 26 Economic Development Strategic Plan ATTACHMENT 1 - 14
BENEFITS FOR NEW AND GROWING BUSINESSES
Incubators and accelerators can provide startups
with the resources, mentorship, and networking
opportunities they need to grow and succeed in the
areas of innovation in technology, healthcare, and
green tech. Benefits include:
1. An environment to test: Companies need
an “innovation environment” to ideate and
evaluate possible solutions to business
challenges. An incubator or business
accelerator provides the opportunity for
a business to test ideas from inside the
business and evaluate possible solutions that
exist in the market—all in an environment
designed exclusively for this purpose.
2. Unique partnerships and opportunities:
Incubators and accelerators can help
startups expand their geographic footprint
and augment their field force by structuring
customized partnerships that leverage
shared services platforms and inject
immediate capital into the distributor. This
growth can serve to strengthen a startup’s
position within its industry marketplace,
furnishing it with additional (and unique)
opportunities with carrier partners.
3. Access to new audiences: Incubators and
accelerators can give startups funding,
access to industry experts or mentors,
education, and learning. They can also
place startups on a stage whereby their
technology company is able to tap into
audiences that were previously out of reach.
Feasibility of Incubators/Accelerators
As the City pursues a strategy of launching
innovative companies via accelerators / incubators,
the success of these programs depends on four
key factors: 1) the City’s commitment to providing
a runway for the program to develop and launch, 2)
securing shared/private space, 3) investment from
commercial, foundational, or governmental sources,
and 4) identifying the right, dynamic individual(s) to
lead and manage the program.
With the four corners of the foundation for these
programs initiated, the work of promoting the
programs, identifying qualified candidates,
and developing the processes for vetting them
and securing their involvement will be critical
next steps. In addition, there is tremendous
potential for restructuring the City’s reputation by
communicating how and why the City is balancing
its historic legacy with this emphasis on forward
thinking innovation. Burbank may be able to
uniquely claim this highly desirable amalgam
of quality living in a welcoming hometown that
embraces the fast-moving and dynamic culture of
business on the cutting edge.
APPENDIX B: ECONOMIC DEVELOPMENT RESOURCES
INCUBATORS AND ACCELERATORS
Incubators and accelerators are programs that provide startups with the resources and support they need to grow and succeed. These programs can offer a variety of different services, such as office space, mentorship, funding, and access to a network of resources and contacts. They are designed to help startups overcome the challenges of starting a new business, particularly in the areas of innovation in technology, healthcare, and green tech. They create cohorts or less formal networks that enhance participants’ communication, problem- solving, and motivation.
Cities that design and provide these programs are proactively building an innovation-focused future to create a vibrant, balanced economy that may deliver or attract financial equity, FDI and domestic investment, jobs, and a culture of diversity and inclusion. There are differences between the two programs, as described below.
Incubators are designed to help early-stage startups develop their ideas and products. They may offer a range of services, such as mentorship, networking, office space, legal and financial advice, and access to funding.
Incubators are often run by an experienced leader who can gain the support of universities, government agencies, or private companies. Incubators provide a supportive environment for startups to test their ideas, build their teams, and refine their business models. An incubator typically lasts for several months to several years, depending on the needs of the startups and the vision for the program.
Accelerators, on the other hand, are designed to help startups or early-stage ventures that are already established and have a product or service that is ready to penetrate the market or scale rapidly. Accelerators offer a more intensive and structured program than incubators, with a focus on growth and expansion. They provide services such as mentorship, coaching, networking, access to funding, and exposure to investors.
Ventures that do well in accelerators typically generate success within a few months to one year, benefitting from the significant expertise and guidance provided.
BENEFITS FOR THE CITY
City-sponsored incubators and accelerators can provide a range of benefits to the local economy. By providing a supportive environment for startups and entrepreneurs, City-sponsored incubators and accelerators can help create a stronger, more vital, and attractive economic environment for the City. They can help create new jobs, foster innovation and entrepreneurship, diversify the local economy, attract and retain businesses, and increase investment in the local economy. Some of the key benefits of incubators and accelerators to the City include:
1. Intentional diversification of the local economy: Incubators and accelerators can help diversify the local economy by supporting the growth of startups in different industries and sectors. By providing a clear focus or specific requirements for inclusion, the City can create the balance of sectors that is most desirable or drive the creation of a supportive ecosystem that manifests in deeply rooted, connected, and sustainable business relationships. Without limiting involvement or providing any special incentives, the diversification goals may include DEI, FDI, and other factors if the information about the incubator/accelerator is made available to specific audiences.
2. Job creation: Incubators and accelerators can help create new jobs in the local economy by supporting the growth of startups and small businesses. As community members in the labor force require retraining or transition of skills to emerging industries, an incubator/accelerator may provide internships, industry education and awareness, and even volunteer opportunities that lead to networking and employment.
3. Innovation and entrepreneurship : Incubators and accelerators can foster innovation and entrepreneurship by providing resources, mentorship, and networking opportunities to startups and entrepreneurs. By drawing subject matter experts, innovators, and other forward-thinking individuals to participate in these opportunities, the City may benefit from media coverage, industry buzz, and investor attention (including FDI) about its plans, efforts, and outcomes.
4. Attracting and retaining businesses: Incubators and accelerators can help attract and retain businesses by providing a supportive environment for startups and entrepreneurs. Among the drivers of reputational value that create a competitive edge for the City, the vibrancy of innovation and entrepreneurship is particularly valuable and somewhat unexpected when combined with the welcoming, safe, and resilient attributes of Burbank.
5. Increased investment: Incubators and accelerators can attract investment to the local economy by providing startups with access to funding and other resources. From both domestic and FDI sources, an incubator or accelerator is a rallying point for a growing economy. 27Economic Development Strategic Plan 28 Economic Development Strategic Plan ATTACHMENT 1 - 15
the LGBTQIA+ population, including the second annual Family Pride in the Park festival in 2023, based on Burbank Pride’s mission to create “uplifting, entertaining, educational, and safe events.” In addition, the Burbank YMCA has opened the first LGBTQIA+ Resource Center as part of the Burbank Social Impact Center.
3. Neurodiversity
Approximately 15-20% of the general population is considered neurodiverse. Neurodiversity includes a variety of conditions where individuals’ brain functions, learning, or behaviors differ from what is typically expected, such as dyslexia, ADHD, autism spectrum disorders, and others.
4. Individuals with access and functional needs
One in eight people have some form of access and functional needs: mobility affecting 7% of the population, hearing difficulties affecting 4% of the population, and vision impairments affecting 2% of the population. Chronic or acute mental or psychosocial disabilities also affect the working population. While some disabilities are visible, and some unseen, individuals with disabilities may be included in the general understanding of DEI’s intended outcome, which is to make the workplace accessible and welcoming.
DEI Best Practices in Economic Development
1. Use inclusive graphics and content. Illustrations, photographs, and other images should be created or selected for diverse representation of individuals. Examples and situations should reflect a spectrum of racial, gender, ableness, and cultural diversity, related to individuals, families, spouses, partners, employees, business owners, and others.
2. Consider workplace accommodations and accommodations at events. For the neurodiverse in the workplace, this may include quiet areas, flexible work schedules, teleworking, and communication adjustments such as speaking without expectation of inferential meaning and providing questions in advance.
3. Provide sensitivity training and use evaluations to reward leaders and employees who model compassion for differences and difficulties.
4. For events and other interactions with the prospective business owners and other individuals, plan to provide representation where possible and accommodate diversity.
5. Recognize City departments as well as external City organizations, businesses, and individuals who are role models for DEI training, DEI practices in action, or advocacy by convening a community based working group that can identify who deserves recognition and determine what the appropriate recognition should be.
6. Recognize and provide support for Burbank-based cultural affinity groups which may be community or business based, as well as other DEI or DEI-related groups, by asking what support these groups would prefer and prioritizing resources available to make that available to businesses.
7. In pursuit of FDI and the related interactions, meetings, and hospitality, all DEI best practices should be kept in mind with the goal of accommodating the distinct cultural or other differences and preferences of individuals and organizations, especially considering Sister City relationships.
FOREIGN DIRECT INVESTMENT (FDI)
FDI has potential positive impact on Goal 3 (Focus on innovation to ensure a vibrant, growing economy) and Goal 4 (Retain and expand Burbank’s leading and emerging industries to balance the future economy).
Foreign direct investment (FDI) is investments made by foreign companies or individuals in the United States.
While the City has the opportunity to make direct outreach to prospective foreign investors, it may also choose to participate with the US federal government’s efforts. Working in concert with local economic development organizations through the US, the International Trade Administration, as part of the US Department of Commerce, is the sole federal program dedicated to promoting and facilitating FDI in local communities through its SelectUSA resource center. Thus, approaching FDI in several different ways may be appropriate for the City.
Key Facts about FDI
1. The US had received the lion’s share of global FDI from 1985 to 2016, garnering 40% of the total value of FDI in 1999 until that precipitously dropped to 24% in 2016. SelectUSA is the federal program that focuses on bringing a full range of FDI, from small to large scale investments, to local cities and communities.
2. An analysis of currently successful FDI in California may be helpful in identifying which countries are the most promising potential targets for pursuing FDI in Burbank.
DIVERSITY, EQUITY, AND INCLUSION
FOR THE PURPOSE OF ECONOMIC DEVELOPMENT
Goals for diversity, equity, and inclusion (DEI) are meant to create a welcoming, ethically informed, and unbiased environment within the City to make its workplace and
the community safe, vibrant, productive, and attractive to all individuals that work at the City, and the businesses, organizations, and civic groups that interact with the
City. Intentionally creating a culture of inclusion is key to employee retention, job satisfaction, and productivity because respect and recognition are drivers of engagement, loyalty, and collaboration among team members.
DEI policies are integral to the success of the City’s
economic development goals, because DEI reflects best
practices in recruitment, hiring, employment policies,
leadership and team communication, training portrayals, workplace practices, physical access to City properties and events, supportive technologies for communication with
communities (including live, print, online, and social media), language translation, and the tactical implementation of events including physical access, choice of speakers and locations, and representation in the content selected.
That the City enjoys an earned reputation for providing a safe, welcoming, and vibrant place for everyone requires awareness and regard for specific populations currently served by City, and those whom the City aspires to serve.
Implementing DEI best practices helps ensure that
reputation. For example, the economic development
plan expands the City’s interactions with culturally and otherwise diverse founders of healthcare and technology ventures, small family businesses, BIPOC business owners, and a mosaic of business visitors, civic and business leaders, and tourists. The following are ways the City can include DEI in Economic Development activities:
1. Assessing the City’s current practices for success in providing equitable opportunity, as well as screening them for bias related to City job recruitment, job enrichment, promotions and transfers, job satisfaction, fairness and representation, workplace accommodations, and dispute and conflict management, including a review of the instruments for employee evaluations.
2. Assessing general and skill specific training and its results on both internal and external interactions, learning programs for unconscious bias training, harassment/bullying training and awareness campaigns, and disability etiquette seminars.
3. Expanding or remediating DEI training as needed throughout the City, including the protocols for multicultural outreach, key elements of “red carpet” service, customer service, dispute mediation, and the incubator/accelerator program.
4. To the degree desirable, the City may choose to make DEI materials available to support employers and organizations.
Defining Diversity in the City
In order to effectively incorporate DEI functions, there are basic insights that must be understood about Burbank and community at large:
1. Racial demographics
The City of Burbank has approximately 1,500 employees on the City’s payroll. The City’s racial demographics consist of these racial identifiers: 2.5% African American, 0.4% American Indian/Alaska Native, 11.4%, Asian Pacific, 24.9%, Hispanic, and 71.5% non-Hispanic White
2. LGBTQIA+ Community
Over 15% of GenZ individuals self-identify as LGBTQIA+ and the overall population is estimated at over 7%. The City has begun building a record of creating a safe and welcoming environment for 29Economic Development Strategic Plan 30 Economic Development Strategic Plan ATTACHMENT 1 - 16
10945 Burbank Blvd, North Hollywood, CA 91601
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California Foreign-Owned Establishments (FOE) Ranked by Source Nation (2022)
SELECTUSA
Leveraging the resources of the US Department of Commerce, particularly via participation in the annual SelectUSA investment conference (typically held in early summer), is a promising strategy to consider as Burbank seeks to fulfill its five-year goals for entrepreneurship, innovation, clean tech, and healthcare. SelectUSA functions as a matching platform for international investors and economic development organizations. Over the past 11 years, the annual SelectUSA conference has grown so that it now serves 5,000 attendees, including over 2,300 business investors from 80 international markets. The upcoming June 2024 conference is focused on innovation and entrepreneurship, hence its alignment with the City’s goals.
Overall, the programs and services provided by SelectUSA are geared to streamline the complex decision- making and start-up processes related to FDI. It seeks to be a one-stop-shop for global business investors to connect with the right leaders at the local level within the US and provide guidance on navigating the federal regulatory system when that is at issue.
TACTICAL ACTIONS
1. To assess the opportunity to participate in the annual conference and other federal SelectUSA programs, visit www.trade.gov/selectusa
2. Per the top ten list, the City may commence marketing directly to these countries’ business organizations, central and local governments, and universities. Calling attention to California being such a popular destination for FDI and featuring the ChooseBurbank message will accentuate a proven competitive advantage.
3. Leverage the incubator/accelerator development as part of the outreach and presentations for FDI, which might include pitch competitions for positions in the incubator/accelerator that specifically call for foreign ventures or include distinguished foreign investors as judges.
4. Amplify the sister City relationships Burbank currently has with Solna, Sweden; Incheon, Korea; Gaborone, Botswana; Ota, Japan; and Arezzo, Italy by intensifying the marketing outreach and visits/ tours to potential partners, suppliers, and the workforce.
Rank Country Jobs % of all FOE jobs Establishments Est. Wages ($Millions)
1 Japan 105,053 16.7% 3,523 10,978.1
2 U.K. 94,601 15.0% 2,358 9,363.0
3 France 63,241 10.0% 1,788 6,052.5
4 Canada 48.337 7.7% 1,486 5,300.3
5 Germany 45,246 7.2% 1,310 4,909.9
6 Switzerland 40,434 6.4% 717 4,615.3
7 Ireland 31,356 5.0% 494 3,366.1
8 China 18,324 2.9% 694 1,808.5
9 Sweden 17,112 2.7% 293 1,520.6
10 Taiwan 16,965 2.7% 405 1,650.9
Source: Dun & Bradstreet’s FDI Dataset analysis by LAEDC Institute for Applied Economics 31Economic Development Strategic Plan
ATTACHMENT 1 - 17
City of Burbank
Patrick Prescott, Community Development Director
Simone McFarland, Asst. Community Development Director
Mary Hamzoian,
Economic Development Manager
Marissa Cardwell,
Senior Economic Development Analyst
Aida Ofsepian,
Economic Development Analyst
Odette Zakarian, Economic Development Analyst
March 19, 2024
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