power point presentation: lmec

8/14/2019 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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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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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


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


More than 19.5% of the citys population isHispanic/Latino


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


More than 46.7% the citys population is Hispanic/Latino

5.6% within the 18-35 age range


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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