Title
Authorization to Host a Familiarization Tour in 2023 with VisitPhoenix (Ordinance S-48635)
Description
Request authorization for the City Manager, or his designee, to enter into an agreement with VisitPhoenix for the coordination of a familiarization tour for national site selectors and developers during the time of the Super Bowl LVII in February 2023. Further request authorization for the City Controller to disburse funds related to this action. There is no General Fund impact from this action.
Report
Summary
In the coming few years, Phoenix will be hosting several mega events including the Super Bowl and Final Four. To capitalize on the interest of these events, staff proposes to implement tours with national commercial real estate executives, developers, consultants, site selectors and real estate investment trusts. This effort will showcase Phoenix as a place to do business, a solid location for both new residential and commercial development, as well as a strong place to make significant capital investments and create jobs.
Economic development and location decisions by both real estate developers, and companies is fiercely competitive. These significant investments have a multitude of locations to select from when they are ready to make a national investment. To remain competitive, it is necessary for the City of Phoenix to showcase all that it has to offer which could result in new investment into the market and new jobs into Phoenix.
Staff proposes a familiarization tour to include up to 16 industry leaders and a guest, in a multi-day tour of Phoenix in February 2023. The program would include a presentation by city staff and our partners, an overall tour of Phoenix, tours of key buildings and sites, meetings with City dignitaries, attendance at the celebration events in Downtown Phoenix, and culminating with attendance at the Super Bowl game.
Hosting costs for this initiative will include: hotel accommodations in Downtown Phoenix, airfare and ground transportation, event tickets and reception costs.
Although not guaranteed, staff would expect to see a significant return on investment, over time for this program.
Contract Term
The contract will be for a term of one year with no extensions.
Financial Impact
The total cost for this agreement will be $75,000. There will be no impact to the General Fund, funding is available and programmed in the Downtown Community Reinvestment Fund.
Concurrence/Previous Council Action
This item was unanimously approved by the Economic Development and Equity Subcommittee on March 23, 2022.
Department
Responsible Department
This item is submitted by Deputy City Manager Ginger Spencer and the Community and Economic Development Department.