• Land Use & Development Character
  • Economic Development

Key Initiative

Work with property owners to develop marketing materials for potential development sites and advertise potential City investments and incentives regarding economic development.

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SUMMARY

The City, in conjunction with Boone EDC, can assist property owners and real estate brokers in advertising potential development sites in accordance with future land use plans.

Oftentimes, there is local knowledge about potential development opportunities that does not get translated to site selection databases. While the Boone EDC and IEDC host interactive site mapping applications on their websites, not all properties may be represented.  Sites advertised by owner or with smaller brokerages may be left off site selection websites. Continuing to develop these relationships may increase the number of potential development sites on the market and present an image that the City is development friendly. Similarly, some potential development sites may not formally be listed as for sale, but the owner is willing to sell given an appropriate offer.

The Lebanon Business Park is nearly built out. If additional development is to occur, adjacent owners must market their properties for sale.

An office and manufacturing building in the Lebanon Business Park.

Marketing materials for potential development sites should include details of the property and any existing buildings if they exist, as well as zoning information, future land use classification, and nearby City investments of planned investments such as utility upgrades or transportation improvements. The City should not commit to economic development incentives without a thorough understanding of planned investment, proposed job creation, and average wages, but it may be helpful to outline potential incentives or infrastructure improvements that would be considered for different development types or areas, in line with City goals. 

Beyond ensuring sites are advertised, the Indiana Site Certified program is an initiative of the Office of Community and Rural Affairs (OCRA) designed to certify sites that are ready for economic development. Sites are certified as either silver, gold, or prime depending on certain parameters and site characteristics. The City should identify a primary staff person to assist property owners in pursuing site certification in alignment with future land use and economic development goals.

The Indiana Economic Development Corporation maintains a site locator mapping tool to help market potential development sites.

 

EXPECTED OUTCOMES

By working with property owners to create marketing materials and by better advertising planned City investments, expected outcomes include:

  • More properties being actively listed for economic development potential.
  • More properties achieving Indiana Site Certified status.
  • Improved communication and clearer expectations between property owners and City leaders regarding city-led infrastructure improvements and potential business attraction or expansion efforts.

 

SHORT-TERM ACTIONS

  1. Identify a City staff person to be the official liaison with Boone EDC, property owners, and brokers in desired development areas. 
  2. Educate property owners about the value of targeted marketing campaigns and the Indiana Site Certified program. 
  3. Develop marketing templates that can be completed for individual development sites.

 

LONG-TERM ACTIONS

  1. Plan capital improvements with realistic implementation timeframes and advertise those plans with nearby property owners.
  2. Evaluate the success of economic development incentives in achieving desired development and job creation goals.
  3. Refine economic development incentive offerings to better target desired development and job creation types.

 

RESOURCES / ORGANIZATIONS / IMPLEMENTERS

  • Planning Department 
  • Property Owners 
  • Boone EDC 
  • Plan Commission 
  • Redevelopment Commission 
  • City Council 
  • Mayor’s Office 
  • Real Estate Brokers