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City of Burbank Receives Three Economic Development Awards
Burbank, CA (February 12, 2019) –The City of Burbank is the recipient of three Merit Awards for excellence in Economic Development partnerships, programs, and promotions. The awards will be presented by the California Association of Local Economic Development (CALED) at the 39th Annual Training Conference on March 28, 2019, in Anaheim, California.
The three awards are:
1) Award of Merit Winner in the category of Economic Development Collaboration, honoring development projects between public and private sector that exemplify the spirit of partnership for the Universal Studios Preferred Hotel Partnership Program.
Burbank Economic Development in partnership with Visit Burbank, the City’s destination marketing organization, worked with Universal Studios Hollywood to significantly increase hotel room revenue through the Universal Studios Preferred Hotel Partnership Program. This program established 10 Burbank hotels as ideal accommodations for tourists, both domestically and internationally, visiting Universal Studios Hollywood. In return, Visit Burbank invested an annual $10,000 fee for each participating hotel. The collaboration resulted in tremendous additional room revenue growth, since its inception room revenue has increase $960,000 in 2016, $1.48 million in 2017, and $1.61 million in 2018.
2) Award of Merit Winner in the category of Economic Development Gamechanger, honoring development projects between public and private sectors that exemplify the spirit of partnership during 2018 for the Downtown Burbank Property Based Business Improvement District 10 Year Renewal.
The Downtown Burbank Property Based Business Improvement District (PBID) was renewed and expanded for a ten-year term. The PBID was created by Business and Economic Development in 2003 to revitalize Downtown Burbank. This collaboration established a public private partnership between the City and property owners in Downtown Burbank. The PBID helps fund capital improvements, maintenance, marketing, and events to increase consumer spending and visitation to the area. The renewed PBID includes a 60% increase in funding from property owners, new and enhanced services and an expanded footprint. The ongoing investment from the property owners has spurred additional investment, including a $60 million renovation of Burbank Town Center.
3) Award of Merit Winner in the category of Economic Development Promotions, recognizing outstanding efforts and achievements in economic development advertising, marketing and promotion during 2018 for the Visit Burbank Tourism Influencer Campaign.
In 2017, Burbank Economic Development initiated the Social Media Influencer Campaign in partnership with Visit Burbank. The launch included six influencers, and an additional five in year two, with established reputations as trendsetters in family travel, millennials, shopping/dining, and film/television. The goal of the campaign was to promote Burbank as a leading tourist destination, generate additional room nights, and increase the Transient Occupancy Tax Revenue for the City. The project delivered high return-on-investment reaching more than 4 million potential travelers and boosting the tourism industry, which generates nearly $37 million in tax revenues for the City.
CALED is the premier statewide professional economic development organization dedicated to excellence in economic development services in California communities. CALED consists of 800 members representing cities, counties, state and federal agencies, economic development corporations, and the private sector dedicated to the business of creating and retaining jobs.
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