We are all keenly aware of the phenomenal growth of the City of Palm Coast. The City of Palm Coast has been recognized by the Wall Street Journal as the 4th fastest growing "micropolis" in the Southeastern United States. The Mayor and City Council have established specific criteria for our continued successful growth and development while creating and maintaining a quality of life style that literally affords all of our citizens an opportunity to benefit from the amenities that we offer today and sustained increased levels for tomorrow.
The most significant building block of successful economic development is our conscientious, professional and stable government. Economic development success is one key to maintaining the health of a growing community and one of being capable to continue to prosper over the years.
The City of Palm Coast is in the process of adopting an Economic Development Strategic Plan that identifies prospective target markets. We are presently exploring an area for a Continuing Care Retirement Community and a high tech research park of commerce. We are presently soliciting various entities to become a community partner in our High Tech Research Park. We are always looking for opportunities to meet with prospects.
How do we stimulate economic growth and development that will yield high paying jobs? We work closely with the Flagler County Chamber of Commerce and Enterprise Flagler in soliciting new business, business relocation efforts, start up businesses. In some cases grants are accessible via Enterprise Flagler, the City, the County and the State.
Another economic development enticement is the fact that Florida Trend Magazine has indicated a few leading colleges and universities as well as private/independent schools in our area such as Embry-Riddle University, Bethune-Cookman, Stetson and Daytona Beach Community College are listed among Florida's leading colleges and are within reasonable driving distances.
There are numerous business incentives for a company to relocate and/or develop in Palm Coast. The incentives are from Flagler County and the State. The City of Palm Coast has a Business Development Team that has and will continue to fast track projects when necessary.
Annexation as an economic development tool is always a fiscal impact. We project the fiscal impact of annexations on our financial resources and personnel. In essence, what is the cost or benefit to the city? We have adopted a proactive role in reviewing opportunities to annex property that is in the unincorporated areas of Flagler County, where it could become an asset to our future growth and development.
The bottom line of any type of annexation is how the quality of life of current residents and potential residents will be affected. Quality of life is subjective but typically expressed in terms of parks, recreation and also intangible issues such as security, property values and the availability of municipal services.
An additional financial asset to consider, are the Baby Boomers that have also selected Palm Coast as a life style community in which they will live and play as they grow into their senior years. The demographics for both of these groups reflect an active life style enjoying the Chamber of Commerce weather and the amenities that are literally at arms reach.
We recognize the significant financial impact that our seniors bring. Continuing Care Retirement Communities (CCRC) by definition offers the opportunity to age in place. Aging in place is fast becoming common place today and will become more of the traditional way of retiring tomorrow than ever before, We are talking with national major corporations that have the proven track record of success and expertise to bring a quality product to our community; Independent Living, Assisted Living, Hospice Care, Skilled Nursing and Alzheimer's Care.
We are diligently seeking opportunities for our community which will afford our young families an opportunity to grow and continue to enjoy the numerous benefits of living in Palm Coast. We are also working closely with national site developers in anticipation of having a Mall or a Power Center (outdoor mall).
We are presently soliciting various entities to become a community partner in our High Tech Research Park. We are always looking for opportunities to meet with prospects that will bring quality businesses and high wage employment opportunities to the door steps of our residents.