Download - Transportation = Economic Development
Transportation = Economic Development
The Ridgefield Interchange Project
Annual Conference of theWashington State Good Roads & Transportation Association
September 18, 2009
Justin L. Clary, P.E.City Manager
City of Ridgefield, Washington
Ridgefield Location
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Ridgefield Background/History
Area originally homesteaded in the 1850s; developed on the banks of Lake River as a mill town
Incorporated in 1909 Remained a rural
community based primarily on the agriculture and lumber industries through the 1990s
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Ridgefield Background/History (Cont.)
Agricultural base slowly eroded through the years Pacific Wood Treating, community’s primary employer, filed for
bankruptcy in 1993 and ceased operations shortly thereafter Following collapse of the waterfront industry, City leaders were
faced with determining how to create a new economy
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City Limits Expanded to Interstate 5
Following the State Legislature’s enactment of the Growth Management Act in 1990, Clark County and its cities began development of comprehensive growth planning documents
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Ridgefield identified the opportunity to expand its city limits by over three miles to the east to encompass the State Route 501 interchange with I-5
Area surrounding interchange zoned for employment-based development
Ridgefield Expansion
2008 Ridgefield Comprehensive Plan Map
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Residential Growth Since City Limit Expansion
Expansion had limited affect on growth through 2003 Residential Growth – 2004-Present
825 New Homes Constructed Population grew from 2,195 to 4,215; ranked No. 8 in State of
Washington for Percentage of Population Growth Rate (2000-2009)
Approximately 1,900 residential lots have gained, at a minimum, preliminary plat approval
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2005 2007
Employment Growth Since City Limit Expansion
Employment-based growth has taken longer to realize than residential growth Approximately 500 jobs created since 2004
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Economic Development on the Horizon
Ridgefield’s Comprehensive Growth Plan projects 13,000 jobs will be created over the 20-Year planning horizon
There are a number of large-scale developments under planning and two under build-out
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Economic Development on the Horizon
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Union Ridge Master Planned Business Park
Economic Development on the Horizon
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Southwest Washington Health System Medical Campus
Economic Development on the Horizon
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Port of Ridgefield’s Waterfront Master Plan
Economic Development Attributes
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Ridgefield Junction Employment Area Approximately 1,500 acres of land zoned for employment-
based development – the largest volume of developable land in the Greater Portland/Vancouver Metropolitan area
Direct access to an international trade corridor (Interstate-5) 25-minute drive to Portland International Airport Four deep-water ports within 30 miles (Vancouver, Portland,
Kalama and Longview) Two major railroad lines within 20 miles (BNSF and Union
Pacific)
Transportation Challenge
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I-5/SR 501 Interchange Built in 1964 to serve a rural community Sole access to Interstate 5 for Ridgefield Existing capacity rapidly eroding due to recent growth Development community has long identified the existing
interchange as a detriment to recruiting quality businesses
A New Interchange
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I-5/SR 501 Interchange Sized to serve 2030 traffic flows Design initiated in 2005 through WSDOT-City partnership
Ridgefield Interchange Project Funding
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Federal SAFETEA-LU (2005) American Recovery and Reinvestment Act (2009)
State Transportation Partnership Account (2005) CTED Economic Development Grant (2005) Pre-existing Funds (2011-2013)
Local Traffic Impact Fees (2005) Transportation Benefit District (2008)
Return on Investment Study
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Study completed in 2008 sponsored by the City of Ridgefield & Identity Clark County
Objective: Analyze the impact of public investment supporting the Ridgefield Interchange Project on tax revenue, permanent job creation and overall economic activity
Analysis of: State, federal and local investment supporting the Project Projected private investment over a twenty-year horizon Study area was limited to the boundaries of the
Transportation Benefit District (approximately one-mile radius around the interchange)
Return on Investment Study - Results
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Type of Development Cost (NPV) Jobs Annual Wages
Residential $ 54,880,000 - -
Manufacturing $ 81,450,000 774 $ 36,449,000
Warehousing $ 90,240,000 562 $ 18,146,000
Office (Professional & Technical) $ 114,620,000 1,938 $ 128,354,000
Retail $ 129,820,000 1,552 $39,702,000
Total Stimulated Development $ 471,010,000 4,796 $222,651,000
Stimulated Development (20-Year Projection)
Return on Investment Study - Results
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Jurisdiction 2008 NPV Share
State of Washington $ 357,700,000 70%
Clark County $ 30,110,000 6%
City of Ridgefield $ 53,100,000 10%
Ridgefield School District $ 15,500,000 3%
Clark County Fire & Rescue $ 15,540,000 3%
C-TRAN $ 23,090,000 5%
Port of Ridgefield $ 1,230,000 less than 1%
Fort Vancouver Regional Library $ 3,640,000 1%
Interchange Transportation Benefit Dist. $ 9,240,000 2%
Total Government Revenue $ 509,200,000 100%
All Local Agencies Revenue $ 151,500,000 30%
Estimated Government Revenue (through 2028)
Return on Investment Study - Results
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Ridgefield State Economic Stimulus
All Public
Net Present Value Benefit-Cost $ 51,600,000 $342,700,000 - $474,950,000
Payback Ratio (Benefit/Cost) $ 35.40 $29.81 - $37.72
Private:Public Investment Ratio - - $47 to $1 $16 to $1
Direct Return on Investment
Actual Return on InvestmentTo Be Determined….
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