power point presentation: lmec
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Latin Media and EntertainmentCommissionGovernmental Incentives
City Comparison Research Project
Brenda Guzman & Laura Fuller
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Objective
Research government/city sponsored initiatives and incentives to
acquire and retain media companies in: Film Theater
Radio Music Print media New media
Advertising industries
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Target Audience
Focus is on the Latin/Hispanic community
Initiatives aimed at new media and advertising businesses Specifically targeting the 18-35 age demographic
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Current Landscape
Advertising 9 out of the top 25 Hispanic agencies located in NYC 10 out of the top 25 Hispanic agencies located in the other 4 profiled
cities New Media
The evolution of traditional media to integrate the development of digitalmedia, answering to a more sophisticated public
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Current Landscape Continued
Intrinsic Benefits: (Individual factors toeach state that can not be duplicated) Cost of Living
Climate
Location
Population
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New York City
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New York City
Intrinsic Benefits Capital of the World 20.7% of population are
Hispanic Established business markets
Advertising Top city for Hispanic agencies
New Media Competitive market for progressivestrategies
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New York Continued
Support Tax programs
Relocation and Employee Assistance Program (REAP) Commercial Expansion Program (CEP)
Industrial and Commercial Incentive Program (ICIP) Empowerment Zone Benefits Empire Zone Benefits NYS Film Production Tax Credits Qualified Emerging Technology Program
Energy programs Energy Cost Savings Program (ESCP) Business Incentives Rate (BIR) Con Edison Empire Zone Gas Rate
Small business incentives Workforce Development Benefits
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Miami
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Miami
Hispanic population 2,141,800
More than half the citys population is Hispanic/Latino
1/3 within the 18-35 age range
35.8% have college degree or higher
Median family income is $47,545
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Intrinsic Benefits Miami Continued
Climate
Miami is considered:
The Gateway to Latin America,the Caribbean and beyond
A global production anddistribution center
Production resources and
infrastructure established for globalbusiness
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Incentives Miami continued
Small business Counseling
Tax brakes
Relocation assistance
Micro-Lending Entrepreneurship training
Tax abatement
Grants
Workforce Housing
Entertainment Companies Specifically Florida Entertainment Sales Tax Exemption
Don Davis Entertainment Industry Economic Development Act
HB 1325
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Incentives Miami continued
Don Davis Entertainment Industry Economic Development Act
Highlight: A tax refund of up to $3,000 per new permanent full-time job created by a new or expanding business in a qualified target
industry: Motion picture Video production
Distribution and services
Requirements include for incentive Certified Production
Digital Media Project
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Incentives Miami continued
Florida Chamber of Commerce
In 2005-2006, $10 million wasappropriated by the Legislaturefor the film and entertainmentindustry. The funds:
Created more than $73 millionin production expenditures
Employed 3,775 Floridians
Resulted in over $36 million inFlorida wages
Created a return on investmentof 7.4:1
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Empowerment Zones Miami continued
Empowerment Zones in Miami Reasons
Business Climate A central location proximity to Latin America No state personal income tax Corporate tax is 5.5% of net income
Business Incentives Visitor and Entertainment Industry
The expanding hospitality sector Local businesses serve all segments of the entertainment industry 4 new entertainment districts New tourism, recreational and cultural facilities in progress
Quality of Life Tropical climate (Average temperature of 75 degrees) Year-round golfing, boating, tennis and swimming Four major professional sports franchises Fourth largest education system More than 1,000 cultural organizations Over 30 health care facilities
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Empowerment Zones Miami continued
Gateway City (Focus is on Trade, Industry and Commerce) Districts
The Miami Intermodal center/ Airport East Allapattah Produce District, the Fashion District Miami Design District Little River Industrial District.
Industries of the future Film Entertainment Financial Services Information Technology Telecommunications, Tourism/ International Trade
Bright Lights (Focus is on Hospitality, Tourism and Entertainment) Park West Entertainment District Miami design District
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Partnerships Miami continued
Small Business Help Florida Small Business Development Center Network
The Department of Management Services, Office of Diversity
Specifically serving the Hispanic Community and residents of MiamiBeach in the area of employment and job training include : The Latin Chamber of Commerce
UNIDAD/Hispanic Community Center, One Stop Center
The Minority Business Development Agency
Miami Business Resource Center
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Houston
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Houston
Hispanic population 1,913,000
33.6% of the population is Hispanic or Latino
28.53% of the population is within the age group
State ranks second in the # of Hispanic owned businesses Approximately 63,482 Hispanic-owned business
2006 Gross Area Product(GAP) was $336.8 billion
2.5 million payroll jobs asof July 2007
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Intrinsic Benefits Houston Continued
Time zone
Climate
Distance to coast
Access to labor
Low cost of living/High standard of living
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Industries Houston Continued
Entertainment is the least prevalent industry Advertising New Media
Industries of focus Information Technology
Energy & Alternative Energy Healthcare Food Processing Telecommunications Nanotechnology Petrochemical Manufacturing Aerospace Biotechnology
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Incentives Houston Continued
Texas Enterprise Fund Created in 2003
Used as recruitment tool
Focused on technology, manufacturing and education
Enterprise Zones
Enhanced Enterprise Community
Incubation of Companies Decline in Palm Center
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Partnerships Houston Continued
Houston Minority Business Council
City of Houstons One-Stop Business Center
Small Business Administration
University of Houston Small Business Development Center
Houston Small Business Development Corporation
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Chicago
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Chicago
Hispanic population 1,922,700
More than 19.5% of the citys population isHispanic/Latino
Median family income is $46,748
26.7% of business is Hispanic owned
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Intrinsic Benefits Chicago continued
Claim to history of mostbalanced cultural diversity
Proactively encouragingHispanic businessdevelopment
Geographically located to becentral to American trade
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Incentives Chicago continued
956 Proposal Tax Increment Financing (TIF) Small Business Improvement Fund (SBIF) Property Tax Incentives
Class 6(b)
Class 7(a) Class 7(b) Class 8 property
Industrial Training Program Assists Illinois companies in training new workers or upgrading the skills
of existing workers.
Loans, Micro loans, etc State Incentives
Economic Development for a Growing Economy High Impact Business Large Business Development Programs Corporate Relocation Headquarters Act
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Empowerment Zone Program Chicago Continued
Empowerment Zone Program The Empowerment Zone (EZ) program offers special financing and tax
incentives for qualified businesses in order to stimulate privateinvestment and create jobs within designated communities.
Enterprise Zone Program Enterprise Zones are geographic areas designated by the City and
certified by the State of Illinois to receive various tax incentives andother benefits.
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Partnerships Chicago Continued
ChicagoLand Chamber of Commerce Innovate Now
Chicago World Business
2007 ChicagoLand Business Advocacy Agenda
ChicagoLand Entrepreneurial Center
VoteForBusiness.com Chamber Leadership Academy
Illinois Coalition for Jobs, Growth & Prosperity
State of Illinois Business Portal Illinois
Innovation Accelerator (i2A) Fund Business Infrastructure Assistance Program
Small Business Administration Offices - Local
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Los Angeles
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Los Angeles
Hispanic population 8,421,500
More than 46.7% the citys population is Hispanic/Latino
5.6% within the 18-35 age range
Median family income is $39,942
32.8% business minority owned
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Intrinsic Benefits Los Angeles Continued
Family roots and established culture
Hispanic majority
Prevalent bilingualism
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Incentives Los Angeles Continued
Business Improvement Districts Program Tax Credit And Incentive Zones, Small Business Exemption Tax Rate Reduction
The City of Los Angeles has three different Business Tax Incentive Areaprograms
The State Enterprise Zones The Federal Empowerment Zone The Federal Renewal Community
State Incentives:
California Loan Guarantee Program California Capital Access Program (Calcap) California Economic Development Lending Initiative (Cedli)
Empowerment Zone (EZ) Incentives State Enterprise Zone (SEZ) Incentives
Renewal Community (RC) Incentives
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Incentive Outcomes Los Angeles Continued
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Partnerships Los Angeles Continued
Community Development Department
Industrial Development Authority
Community Redevelopment Agency
Los Angeles Department of City Planning
Minority Business Opportunity Center Los Angeles Business Team
LA Inc.
Los Angeles County Economic Development Corporation
Community Financial Resource Center
FilmLA
Barrio Planners
CHARO
Chamber of Commerce, Entertainment Industry Business Council
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Conclusions
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Conclusions
CityPredominate Hispanic
Community IncentivesEmpowerment
ZonesEstablishedAdvertising
Agencies
Established New MediaCompanies
New York X X X ?
Miami X X X X X
LosAngeles X X X X
Chicago X X X
Houston X X X
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Conclusions Continued
Competition:1. Miami2. Los Angeles3. Chicago4. Houston
Suggestions: Already successful in advertising sector
Establish and maintain relationship with partner organizations/ trade Focus on new media
Establish monetary incentives Launch strategies specified by communications plan
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Communications Plan
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Communications Plan
Strategies: Building a visible and available presence in the New York City Latin Media and
Entertainment arena
Partnering with local trade organizations
Including: New York American Marketing Association
American Marketing Association
Hispanic Marketing Public Relations
(National Association of Hispanic Journalists)
Associations of Hispanic Advertising Agencies Hispanic Marketing and Communications Association
National Association for Hispanic Professionals
Latin Business Association
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Communications Plan Continued
MessagesNew York City Government Provides incentives and tools to help your business reach the Hispanic community Provides the optimal environment to nurture Hispanic talent/professionals Delivers New York City, which is:
in tune with the Hispanic community a prime business setting for your company to reach the Hispanic community the ideal forward-thinking environment for your company to succeed and
establish a presence in the emerging technology of new media
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Communications Plan Continued
Tactics Webpage link off the nyc.gov site LMEC section for small business
Implementing out-reach program, to include:
communication to potential Hispanic Entertainment and Media companies in
letter format professional education seminars
information packet
Pitching Hispanic Business publications
Utilizing social media networks, in grass-roots approach, to Hispanic Entertainment
and Media businesses for NYC Gov incentives Press conference and press release announcing the adoption of incentives and
perks.
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Questions?
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