E-News from the Lee's Summit Economic Development Council                                                                                                                     MARCH 2006  

Celebrate Excellence in Our Schools April 5th

Money Magazine and the Kansas City Star  both heralded our award-winning public schools when they designated Lee’s Summit one of the top 100 places to live in the U.S. and one of the top ten suburbs in Greater Kansas City, respectively.

Now we will celebrate that excellence on Wednesday, April 5 from 11:45 a.m. to 1:15 p.m., at the Legacy Park Community Center. Our Quarterly Investor Meeting will include:

  • The announcement of teaching excellence awards in recognition and appreciation of Bud Hertzog’s service as Chairman of the LSEDC;
  • The introduction of this year’s top 10 Lee’s Summit R-7 teachers, who will be the recipients of this new award;
  • A celebration of Dr. Tony Stansberry’s 10 years of service to the district;
  • The introduction and welcome of Dr. David McGehee, the newly named successor to Dr. Stansberry as Superintendent of the district; and,

After the meeting, there will be a tour of the new Great Beginnings Early Education Center, constructed by LSEDC investor Turner Construction. The center serves nearly 300 children ages 3 to 5 with mental, physical, communicative, social, emotional, adaptive and developmental challenges. The center also houses the Parents As Teachers program which serves nearly 2,400 families with children from birth to 5, providing home visits, developmental screenings and parent group meetings.

April 4 is Election Day

Don’t forget to vote. There are several important ballot issues for consideration including R-7’s No Tax Increase bond issue to fund a new elementary school, school improvements, technology and buses. The $32 million No Tax Increase bond issue was recommended following a 10-month study and recommendation from the R-7 Citizens’ Advisory Committee, a broad-based community and staff team. The bond issue is designed to handle growing student enrollments and address school program parity needs by including improvements and additions at older schools. Since 1990, the R-7 School District has grown by an annual average of close to 500 students, reaching 16,381 students this fall. Projections show the district reaching 17,500 students by the 2007-08 school year.

Prospects Could Bring 1,600 Jobs to Lee's Summit

It has been an intensive time with prospects looking to open and/or expand businesses in the area. They are looking at Lee’s Summit as well as other communities in the metro for their operations. Right now, we are losing some opportunities due to the lack of quality available space. Nonetheless, some of the operations showing interest in Lee’s Summit include: 

  • An international manufacturer
  • A high-end cabinet and furniture manufacturer
  • A web hosting company
  • Two inbound customer call centers in the financial services and insurance sectors
  • A large office user
  • A national hotel chain
  • At least three local companies looking to expand

Combined, these operations would generate 1,600 jobs and represent a total capital investment of $80 million. Watch for future communications on our progress in landing these investments for our community.

Residential Sales

We are preparing to reprint our popular Lee’s Summit Advantage. It should be completed early this summer. The attached charts will be included:

Lee's Summit Average Yearly Sale Price for Single Family Homes

New Home Sales          
Zip Code 2001 2002 2003 2004 2005
64081 $242,643 $267,446 $276,662 $260,717 $284,014
64082 $207,393 $214,015 $224,327 $226,530 $235,928
64086 $219,503 $237,053 $274,654 $405,568 $364,779
64063 $212,655 $221,947 $231,990 $281,000 $375,645
64064 $254,303 $262,080 $282,230 $326,018 $351,754
64065 NA NA NA NA NA
           
Resale          
Zip Code 2001 2002 2003 2004 2005
64081 $171,600 $187,000 $190,457 $194,531 $198,333
64082 $209,463 $190,310 $203,064 $212,151 $217,164
64086 $148,679 $161,642 $167,401 $179,953 $193,613
64063 $128,182 $131,683 $133,769 $142,206 $153,871
64064 $228,142 $216,737 $243,272 $240,008 $248,020
64065 $95,500 NA NA $148,000 $220,000
Source: Board of Realtors and HBA

Housing Activity in 2005
Price Range of Homes Closed in Lee's Summit
Price Range Closings $ Per Range
Under 125 57 6%
125/175 70 8%
175/225 197 21%
225/275 166 18%
275/325 163 18%
325/425 130 14%
425/625 77 8%
625+ 58 6%
TOTAL 918 100%
Source: Landmarketing

Housing Activity in 2005
Price Range of Homes Closed in Metro Kansas City
Price Range Closings % Per Range
Under 125 650 6%
125/175 2,642 24%
175/225 3,016 27%
225/275 1,807 16%
275/325 1,157 10%
325/425 1,020 9%
425/625 553 5%
625+ 386 3$
TOTAL 11,230 100%
Source: Landmarketing

Investor Focus
Wachter Electric Grows With Lee's Summit

If you would like a chance to tell  about your company in our next E-Newsletter, be sure to bring your business card to the April 5 meeting. Just drop your card in the box during the registration period. If we draw your name, our public relations consultant will get in touch with you to help write a positive profile to share with our investors.

Get Connected With Wachter Electric

We are pleased to showcase LSEDC Investor Company Wachter Electric, headquartered in Lenexa, KS, as our featured company of the quarter. Founded in 1930 in Kansas City, Wachter is a leading national provider of infrastructure services, communications equipment and technical support. With nine U.S. offices and one in the United Kingdom, Wachter’s 700 employees service the U.S., Canada and Great Britain in the areas of on-site wired and wireless network infrastructure, telephone and structured cabling, design, installation and electrical services. The electric and network services operations reported $100 million in combined revenues in 2005.

Wachter’s Director of Business and Economic Development, Chris Hines, is the company’s representative to the LSEDC. We asked him to share his thoughts about Lee’s Summit and the LSEDC.

1. Why did you invest in the LSEDC?

"With the incredible growth Wachter has enjoyed, we knew it was important for us as a company to become more involved in the community development process. This is an effort to not only enhance our business prospects caused by added development, but to also invest in and contribute to the betterment of the community as a whole."

2. What have you gained from your LSEDC involvement?

"I have found our investment in the LSEDC to be very beneficial. Not only do we have the opportunity to meet with current clients, but also to network with potential partners as well. In addition, by having the Wachter name in LSEDC marketing materials and on the website, we are provided excellent advertising opportunities and an enhanced stature in the community."

3. What projects have you worked on in Lee's Summit?

"We have been fortunate to provide services at some of Lee's Summit's major employers including Pfizer, Toys R Us and Cerner. In other areas of the metro we have worked on the Sprint World Headquarters, Garmin Industries, Johnson County Community College, Hunt Midwest Mining and many others."

4. Have you worked on projects for other LSEDC members?

"In addition to Pfizer, Toys R Us and Cerner, we have outstanding partnerships with a number of LSEDC members including Turner Construction, JE Dunn, McCown Gordon, A.L. Huber Construction, Meyer Companies, and The Weitz Company. I'm sure with continued investment and increased participation in the LSEDC, we will add to this list."

5. Are there other notable facts about your company that you would like to share?

"We are proud of all our projects, but notably we have won 11 awards from Associated Builders and Contractors in just the last 6 years, including the prestigious Pinnacle Award as 2004 Subcontractor of the Year for our work on the Cerner Data Center Phase II project in Lee’s Summit."

To find out more about Wachter Electric, visit their website at www.wachter.com. On behalf of the Lee’s Summit Economic Development Council, we thank Chris Hines and Wachter Electric for their commitment to our community and the LSEDC.

Innovation? Try Borderless Thinking!

"You need two things to create an innovative culture. Innovation requires diversity. You need to bring together different kinds of people to get new ideas. Innovation also requires borderless thinking. A censored society always focuses on borders and what you cannot do. A society that promotes borderless thinking focuses on new possibilities and opportunities. It is better at innovation."
--Nandan M. Nilekani, President, CEO, Infosys Technologies, India

Why is borderless thinking important to Lee’s Summit? Because we live in a regional economy where historical trends tend to dictate current trends. To leapfrog this inertia, individually and collectively, we need to capitalize on our strengths and seize our future by looking over the horizon, be global in focus and local in implementation. In economic development, we must continue to be relentless in finding trends and preparing for their next generation or creating new ones! Take the health care growth in Lee’s Summit for example. In addition to over $200,000,000 in various hospital investments recently, who would have imagined that nearly 300,000 square feet of space in Chapel Ridge Business Park is devoted to health related activities! Who would have imagined when the then-state-of-the-art AT&T plant closed down several years ago, that it would resurrect itself as a magnet for 21st Century businesses focusing on data centers, customer service centers and high quality office space! Who would have thought that the Adessa Auto Auction site might be transformed into a shopping destination for the entire region? We need to be alert to opportunities and must seize them or others will on our behalf!
 

April 4 is Election Day
Prospects Could Bring 1,600 Jobs to Lee's Summit
Residential Sales
Investor Focus: Wachter Electric
Innovation? Try Borderless Thinking!

Welcome New Investors 

Benefactor $2,500 - $4,999 

David Ireland
Kansas City Cardiology Associates, Inc.

Investor $750 - $1,499

Beth Holtwick
Haren & Laughlin Construction Co.

Sponsor Up to $749

Kathy Meyers
Liberty Savings Bank

Thank You Renewed Investors

The following companies have renewed their investment in LSEDC since December 2005. For a complete list of our Investors, click here

Pacesetter $7,500 and up

Lee's Summit R-7 School District

Leadership Partner $5,000 - $7,499

Aquila

Blue Springs R-4 School District

CB Richard Ellis, Inc.

First National Bank

Gale Communities

Meyer Companies

TMC Lakewood

Benefactor $2,500 - $4,999

Bank of America

Citizens Union State Bank

Commerce Bank

Cosentino Enterprises

First Community Bank

Fogel-Anderson Construction Co.

Froehlich Pycior Companies

LeMone-Smith Development Company

McCown Gordon Construction

Miller-Stauch Construction Company

Space Center Kansas City

Turner Construction Company

White Goss Bowers Schulte & Weisenfels

Patron - $1,500 - $2,499

Hoefer Wysocki Architects

Hunt Midwest Residential Developers

HyVee Food Stores

Industrial Development Authority

Lee's Summit Journal

Superior Bowen Asphalt Company, LLC

Investor $750 - $1,499

Affinis

Ash Grove Materials

Bob Sight Ford

Development Initiatives

DLR Group, Inc.

E.T. Archer Corporation

FabTech, Inc.

GEHA

Geiger Ready-Mix Co., Inc

George Butler Associates, Inc

Hollis & Miller Group

Home Builders Assn of Greater KC

Lakewood Business Park

Lee's Summit Animal Hospital

Longview Community College

Mechanical Breakdown Protection

Musgrave Marketing & PR

National Bank of Kansas City

R&D Tool & Engineering

Realty Executives

Realty Trust Group

Scott Rice Office Works

Stoney Creek Development

Toys R Us

Sponsor Up to $749

360 Architecture

AFC Heating & Cooling

Atkinson Financial Services

Bi-County United Way

Cathie Bordner & Associates

Chinnery Evans & Nail

Construction Systems & Flooring

Hartley Appliance & Furniture

HSMC

Lee's Summit Chamber of Commerce

Mock Building Company

Prime Commercial

Serta Mattress Company

Shafer, Kline & Warren, Inc.

Spilker McKeone & Co., P.C.

Thompson Properties, LLC

Weed Man/Turf's Up, Inc.

Zimmer Companies