2010/05/26 Council Agenda Packet

is economic stability and diversification of the employment base, so that the local economy is not as susceptible to the fortunes of a single employer or industry. Use of Everett's land base is central to economic diversity and strength. The Economic Development Element reviews and updates past economic studies and strategies. It includes recommendations for actions that will foster the desired economic health. No change needed. Section 2. II. A. d. Industry, pg 8, Land Use 1. However, much of the inventory of vacant industrial land is affected by environmental constraints, reducing the amount of vacant and developable industrial land to approximately 1,437 acres. 2. Another large industrially zoned aggregates mining area (CEMEX) has a short remaining life expectancy and is expected to be reclaimed for industrial use, commercial and residential uses as approved throy h the Planned Development Overlay Master Plan process. Staff Analysis: At this time CEMEX proposes to convert 42.5 acres from industrial to non- industrial use. Gross developable area of M-1 zoned land remaining is 326 acres. Loss of 42 (rounded down) of those acres would leave 284 acres of supply remaining. The current supply of M-1 land is expected to last 16 years. After the conversion of the noted area, that supply would drop to an approximate 14 year supply, or a 12% reduction in M-1 zoned land. Employment on industrial lands ranges from 35 employees per acre for warehousing to 70 employees for "higher density" manufacturing. Therefore the lost of the noted area could lead to the loss of 1,470 to 4,940 industrial jobs at full build -out. This loss would be supplanted in part by service and some professional jobs in the replacement mixed use area. Employment in the mixed use area might be in the range of 900 employees. At this point a net impact estimate will not be pertinent until a better idea of what exactly is (may be) approved for this site. Section 2. III. B. , pg 15, Land Use Why Everett Encourages Continued Economic Growth Partially as a result of history and partially as a result of intentional public policy and investment decisions, Everett has emerged as the employment and industrial center of Snohomish County. Approximately 40% of all jobs in Snohomish County are located within the Everett Planning Area and will continue to be. As the job center for the county, Everett has made investments in its transportation and utility infrastructure to maintain a healthy economy for the city and the region. Since it is difficult to establish large industrial tracts in areas where there has not previously been such zoning, Everett's large base of industrial land represents an important regional resource. Having a large base of industrial and commercial land has also helped Everett financially support public services provided to its residents. If Everett is to continue to provide a healthy economic base and a high level of urban services, it must plan for 2 Industrial Land Policy Analysis