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Strategic Economic Development Plan (SEPD)

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1. How was the SEDP created?

The first step was to identify how the Advisory Committee defined economic development and to specify their collective interpretation of success. Concurrently, the RKG Associates Team performed a detailed analytical assessment of the current and projected opportunities and constraints affecting the potential to achieve the defined vision. Finally, the SEDP document was created to provide the collaborative results of the Advisory Committee, City staff and the Consultant team working together to identify implementation approaches relevant to and achievable within Roswell.

2. What was the focus while creating the SEDP?

The SEDP process was guided by three canons established by both the City Council and the Advisory Committee:
• the retention of existing jobs;
• the expansion of existing businesses; and
• the attraction of new investment and jobs to Roswell.

3. How will the SEDP be used?

The SEDP is a “menu” of actions tailored to Roswell based on the inclusive vision of the Advisory Committee. However, the SEDP also provides detailed technical documentation explaining the rationale behind the implementation recommendations. The Strategic Economic Development Plan only is the first step towards implementing a coordinated, strategic action plan.

4. What are the City’s goals for economic development?

The operational goals, which focus on having an economic development effort that maximizes the City’s ability to leverage its resources, are:
• To increase the awareness, understanding and support for economic development within Roswell;
• To establish the City as a partner in economic development, and
• To enhance Roswell’s economic and fiscal health within context of the North Fulton County market.
The implementation goals, which reflect the expectations the Advisory Committee has established, are:
• To promote the retention and expansion of existing Roswell businesses;
• To cultivate the entrepreneurial spirit of Roswell residents; and
• To foster a market climate attractive to a variety of business sizes and interests.

5. Why can’t the City continue with the same economic development strategy that has been used in the past?

Previous economic development efforts are not sufficient to position Roswell to succeed in the current economic and market climate of North Fulton County and the entire metropolitan Atlanta area. Those who desire to keep their community ‘the same’ oftentimes do not understand that things have remained the same because their community experienced economic growth. For example, the ability to maintain and operate excellent parks and recreation amenities requires a growing revenue base. Roswell sustained its fiscal strength and high quality of life through real property appreciation and county-wide retail sales tax revenue growth. Since then, Roswell’s economic viability has suffered from market evolution and market competitiveness.

6. What economic development issues does the City face?

There is a limited amount of land which has not yet been developed, so future growth will likely require some component of redevelopment. Roswell’s regulations on development are not conducive to redevelopment. Higher density is necessary to make redevelopment fiscally viable and to allow multi-family housing, which is a common component in redevelopment efforts.

7. What are Roswell’s current market opportunities?

Housing: There is large demand for affordable, market rate, and luxury rental housing in Roswell and North Fulton County. Without some regulatory and market changes, Roswell’s population may increase more slowly than the rest of the region and erode the competitiveness of Roswell’s commercial market.

Retail Redevelopment: Although Roswell currently is over-supplied in retail space, many of the larger, less competitive sites have the potential for redevelopment. These sites can become transformative projects that increase consumer spending (through new residential development) and decrease the excess retail space (through smaller retail footprints) benefiting all retailers. Selective redevelopment also will improve the viability of the remaining retail developments, as the decreased supply will stabilize rent rates and financial performance.

Class A Office: There will be opportunities as the economy recovers to support Class “A” office development in Roswell at strategic locations. The Holcomb Bridge/400 intersection has development and redevelopment potential to accommodate a substantial amount of new office development. GA9 between the Founder’s Square and Holcomb Bridge/Crossville intersection can accommodate smaller-scale office development (when the market can support new development).

Industrial: The industrial market has immediate opportunities for new development in Roswell. Data indicate much more demand for warehouse and flex space in North Fulton County than there is supply. It is important to balance immediate benefits from industrial development with longer-term opportunities consistent with the stated vision.

Lodging: There may be a market for a hotel type that does not already exist in the Roswell market. A bed & breakfast style concept has been proposed in the Founder’s Square/Canton Street area. This smaller-scale, market niche approach is more feasible than a traditional hotel development and capitalizes on the unique character of this area of Roswell. The City should also encourage new hotel development (in the mid- to long-term) in the areas closest to GA400, as these uses are complementary to the office potential and are strong tax revenue generators.

8. What new industries are recommended for Roswell?

Healthcare: Roswell is an ideal location for the expansion of healthcare-related industries. Roswell has a comparatively more mature population that is believed to have a strong desire to age in place. As this population continues to age into their senior years, the demand for medical services likely will increase.

Tech and Corporate: Roswell’s quality of life and ideal location along Georgia 400 make the City very competitive to attract and retain technical, research, consulting, and corporate operations companies, ranging in size from 1-person firms to having thousands of employees.

Entertainment and Recreation: Creating a more diverse and integrated entertainment and recreation industry cluster is consistent with both the stated and implied vision established by the comprehensive plan, this economic development strategy, and numerous previous studies performed for the City. The dining segment has a valuable, but small presence (i.e. Canton Street) that can be expanded. One or more of the historic homes could be an ideal bed and breakfast venue. Other opportunities include expanding community-serving retail and sporting venues (i.e. soccer or softball tournaments).

9. What’s next?

The next step should be to vet the results with leadership priorities, financial resource availability, and technical capacity. The vetting process should yield a more concrete, workable plan of the most valued and achievable parts of the strategic plan. This annual action plan should then be periodically reviewed and edited for compatibility with the larger vision of the SEDP. This SEDP should not be viewed as the first and final economic development plan for Roswell. The strategy should be reviewed every 5-10 years to accommodate successes, identify new/modified courses of action and calibrate for new market/community climate, and reviewed more frequently in times of extreme market or community transition (i.e. the recent economic downturn).