CITY OF TITUSVILLE ECONOMIC DEVELOPMENT STRATEGIC PLAN Redevelopment Management Associates (RMA) 2302 E. Atlantic Blvd. Pompano Beach, FL 33062 P: 954.695.0754 | F: 754.222.8081
[email protected] | www.rma.us.com TABLE OF CONTENTS EXECUTIVE SUMMARY 1-2 ECONOMIC DEVELOPMENT 3-49 DOWNTOWN 7 CORRIDORS 30 TARGETED INDUSTRIES 32 CULTURAL ARTS 39 MARKET POSITIONING 43 CAPITAL PROJECTS/PUBLIC IMPROVEMENTS 50-55 GATEWAY, DIRECTIONAL, AND WAYFINDING SIGNAGE 50 RECREATIONAL CORRIDORS 52 PUBLIC UTILITY IMPROVEMENTS 55 RESIDENTIAL DEVELOPMENT AND QUALITY OF LIFE 56-59 HOUSING 56 NEIGHBORHOOD IMPROVEMENT PROGRAMS/AESTHETICS 58 TRANSPORTATION AND TRANSIT 60-61 US 1 CORRIDOR 60 STATE ROAD ENHANCEMENTS 60 ECONOMIC DEVELOPMENT SUPPORT 62-63 REAL ESTATE ACQUISITIONS AND DISPOSITION 62 LAND DEVELOPMENT REGULATIONS 62 EXECUTIVE SUMMARY EXECUTIVE SUMMARY This Economic Development Strategic Plan is based on RMA’s market analysis, economic development assessment, stakeholder and public input. The report recommends realistic strategies developed to position Titusville to compete for investment and increase its tax base, while maintaining and strengthening its community character. This approach includes an assessment of the area’s economic development potential and an overview of the constraints and opportunities influencing the five drivers of economic development, land, labor, capital, markets and regulation, as well as the City’s ability to influence each driver. Titusville is currently experiencing significant economic development gains, including investments by internationally known companies including OneWeb Satellites, Lockheed Martin, Embraer, SpaceX and Blue Origin. Titusville also has a diverse, expanding business community that includes Titusville Logistics Center, Renzetti’s, Hell’s Bay Boat Works, Titus Landing, Boeing, and Falcon Marine, as well as advanced manufacturers, healthcare providers and unique service-sector firms.