Economic Development Update
City Council Regular Meeting
October 14, 2024
Item 2.4
Economic Development Marketing
Conferences
ICSC – LAS VEGAS
May 19-21, 2024
• Exhibit in TeamCalifornia Booth
• 17 Meetings
11 – Retailers
4 – Developers
1 – Broker
1 – Service Provider
6 1
2 2
RETAILER OUTREACH
GOODS & SERVICES
FINANCIAL
ENTERTAINMENT
RESTAURANT
Economic Development Marketing
Conferences
TeamCalifornia’s
Meet the Consultants
August 5 – 7, 2024
Visalia Convention Center
TeamCalifornia
Signature Event
Opportunity to
showcase
California and its
communities
National & Local
Site Selection
Consultants
Speakers
Economic Development Marketing
Advertisement
Site Selection
Magazine
September Issue 2024
42,000 readers
C-Suite Executives
Board of Directors
Real Estate Brokers
Site Selection Consultants
Target Industries
Aerospace
Automotive
Biotech & Pharmaceuticals
Electronics & IT
Food & Beverage
Machinery
Transportation
Business Engagement
Grand Opening Event – August 28, 2024
Macy’s – Bloomingdales Fulfillment Center
Lathrop Businesses honored at
57th Annual Stockton Chamber
Industrial Technology BBQ
“Congratulations to Macy’s, Inc. and
Simwon America Corp.”
Business Engagement
Community Outreach
• October Utility Bill Mailer
• City Website
• City Social Media
LathropSMART
Fall Newsletter
Community Awareness
Community Awareness
L O C A L
R E S O U R C E S
• Job Search
Assistance
• Small
Business
Assistance
• Career
Technical
Education,
and
Life-Long
Learning
AGENCY WEBSITE
San Joaquin County WorkNET SJCWORKNET.ORG
EDD CalJobs CALJOBS.CA.GOV
Small Business Development Center SANJOAQUINSBDC.ORG
Innovation Hub San Joaquin IHUBSJ.ORG
Growth-Opportunity San Joaquin County GOSJ.ORG
CodeStack Academy (SJCOE) CODESTACKACEDEMY.ORG
Manteca Education & Training Center (METC) MANTECAUSD.NET/METC San Joaquin Delta College DELTACOLLEGE.EDU
University of the Pacific
• Bererd College
(Innovative degrees & lifelong learning programs)
• Osher Lifelong Learning Institute
(Designed for people ages 50+)
PACIFIC.EDU
EDUCATION.PACIFIC.EDU/EDUCATION
EDUCATION.PACIFIC.EDU/EDUCATION/
OSHER-LIFELONG-INSTITUTE
A City’s Role in Attracting New Businesses
Balancing Community Wants and Retailer Needs
FASTEST GROWING CITIES
CALIFORNIA DEPARTMENT OF FINANCE POPULATION ESTIMATES
C O M M U N I T Y W A N T S (Partial List)
Sit Down Restaurants
• Steakhouse
• Casual Dining
• Family-Friendly
Consumer Goods & Services
• Financial Institutions (Banks)
• Preschools
• Grocery Stores
Entertainment Venues
• Climbing Gyms
• Trampoline Parks
• Movie Theaters
• Retail Stores
• Hardware Improvement
• Medical
• Fine Dining
• Experience Dining
• Healthy Options
• Bowling Alleys
• Indoor Golfing
• Pickle Ball
MARKETING
AND LAUNCH
Develop a marketing
strategy to promote
the new store.
PLANNING &
DEVELOPMENT
Once the site is secured,
obtain land use approval
and building permits.
NEGOTIATION &
ACQUISITION
Negotiate lease or
purchase terms with
property owners.
SITE VISITS
Conduct physical visits
to shortlisted sites to
get a firsthand look at
the location,
surrounding area, and
existing infrastructure.
ZONING &
REGULATIONS
Check local zoning laws
and regulations to
ensure the site is
suitable for your type
of business.
FINANCIAL
ANALYSIS
Assess the financial
viability of potential sites.
SITE SELECTION
CRITERIA
Establish criteria for
your ideal site.
COMPETITIVE
ANALYSIS
Identify and evaluate
the competition in
the area.
MARKET
RESEARCH
Analyze the market to
understand the
demand for its
products or services.
R E TA I L E R N E E D S & P R O C E S S
CONSTRUCTION
Roadways, Utilities,
Infrastructure,
Building
CORPORATE
APPROVAL
Data & information
presented to C-Suite for
approval to begin search
for properties within the
designated trade area
✓Listen to Community Wants
✓Research Retailer Contacts and Location Requirements
✓Gather Community and Trade Area Data & Statistics
✓Know Availability of Land & Existing Building Space
✓ Marketing
• Target Industry Advertising
• Create Marketing Materials Reflective of Retailers
Needs
✓Outreach
• Tradeshows -- Retail & Entertainment Focused
• Cold Calls & Meetings
• Follow Up
C I T Y ’ S R O L E I N B U S I N E S S AT T R A C T I O N Balancing Community Wants and Retailer Needs
Balancing Community Wants and Retailer Needs
Retail Trade Area
2024 Total Daytime
Population
POPULATION SUMMARY
10 Mile Radius 288,972
20 Minute Drive Time 470,484
CORE CUSTOMER
Dave & Buster’s has a broad demographic appeal, serving as an attractive entertainment value for fun-seeking, casual-plus dining customers who enjoy spending time with friends and family.
MARKET REQUIREMENTS
Super-regional Draw:
• 700,000 to 1,000,000 daytime population
(within 10 miles)
• Average guest travels 22 minutes to visit our stores. 10 Mile Radius – 288,972 20 Minute Drive-Time – 470,484
LOCATION
REQUIREMENTS
NEGOTIATION &
ACQUISITION
Negotiate lease or purchase
terms with property owners.
SITE VISITS
Conduct physical visits to
shortlisted sites to get a
firsthand look at the location,
surrounding area, and existing
infrastructure.
• Land and building sites are privately owned
• All negotiations for sale or lease are conducted between the retailer and the property owner
• These steps are completed before the City engages in the process R E TA I L E R – L o c a t i o n P r o c e s s
ZONING & REGULATIONS
Check local zoning laws and
regulations to ensure the site is
suitable for your type of
business.
FINANCIAL ANALYSIS
Assess the financial viability of
potential sites.
SITE SELECTION CRITERIA
Establish criteria for ideal site.
COMPETITIVE ANALYSIS
Identify and evaluate the
competition in the area.
MARKET RESEARCH
Analyze the market to
understand the demand for its
products or services.
CORPORATE APPROVAL
Data & information presented to
C-Suite for approval to begin
search for properties within the
designated trade area
R E TA I L E R – L o c a t i o n P r o c e s s
• Site location finalized
• Meets with City’s Development Team to verify zoning, utilities, access, improvement requirements, etc.
• Next steps toward planning and development
NEGOTIATION & ACQUISITION
Negotiate lease or purchase terms
with property owners.
SITE VISITS
Conduct physical visits to shortlisted
sites to get a firsthand look at the
location, surrounding area, and
existing infrastructure.
ZONING & REGULATIONS
Check local zoning laws and
regulations to ensure the site is
suitable for your type of business.
FINANCIAL ANALYSIS
Assess the financial viability of
potential sites.
SITE SELECTION CRITERIA
Establish criteria for ideal site.
COMPETITIVE ANALYSIS
Identify and evaluate the
competition in the area.
MARKET RESEARCH
Analyze the market to understand
the demand for its products or
services.
CORPORATE APPROVAL
Data & information presented to CSuite for approval to begin search for properties within the designated
trade area
PLANNING & DEVELOPMENT
Once the site is secured,
obtain land use approval
and building permits.
CONSTRUCTION
Roadways, Utilities,
Infrastructure,
Building
City Involvement Begins
F I N A L P R O C E S S
• The City of Lathrop will be putting out a survey request for resident input on the types of retail most desired for the community.
• A retail survey will assist staff in focusing business attraction efforts on the type of retail ranked with the highest priority by residents. • Retailers have the final say on their location choices.
Coming January 2025
LATHROP RETAIL SURVEY