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Competitive Economic Development Budgets
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  1. Competitive Economic Development Budgets Prepared for: June 2010 Prepared by:

  2. Competitive Community Budgets Sheridan, WY $1.4 million for 5-yr. program Gillette, WY $2 million for 5-yr. program Paducah, KY $5.2 million for 4-yr. program Sandusky, OH $1.25 million for 5-yr. program Watertown, SD $1.8 million for 5-yr. program Twin Falls, ID $1.7 million for 5-yr. program Rome, GA $2 million for 5-yr. program Albany, GA $2.5 million for 4-yr. program Iowa City, IA $4 million for 5-yr. program Ocala, FL $2 million for 5-yr. program Orange Park, FL $1.5 million for 5-yr. program 2

  3. Forward Sheridan (WY pop. 28,000) The goal of economic development in Sheridan County is to increase the value of and/or the number of transactions that bring money into the county, and to keep that money circulating longer so that the total wealth in Sheridan County grows faster than the population. Business Retention: one-on-one visits to at least 100 businesses annually . Additionally, staff works programs i.e. workforce shortage, housing shortage, child care, etc. are all areas with team is partnering and combining resources with other organizations to effect long-term, community-wide solutions. Business Attraction: targets: information services, back office (small), tourism related, creative/western arts, niche manufacturing 3

  4. Paducah, KY (pop. 65,000)Greater Paducah Economic Development Council The Greater Paducah Economic Development Council is a non-profit entity charged with attracting new investment and creating new jobs in Paducah/McCracken County, Kentucky. GPEDS. Expansion Projects= $ 10,600,000 investment: 257jobs (Mfg 3 Distrb 2 Office 1) Attraction Projects 28 7,273 jobs in two years (Mfg 26 Distrb 2 Office 0) Total 34 $9,914,100,000 4

  5. Sandusky County, Ohio (pop. 62,000) Provides financial support for airport Conducts 40-50 existing industry visits/yr. Facilitate manufacturer’s roundtable, energy seminars, marketing activities Works closely with city economic development agencies Manage enterprise zone activities in county 5

  6. Gillette: Campbell County Economic Development Corporation (pop. 40,000) The POWER Initiative provides a marketing effort necessary to sustain and improve the economic performance and vitality of Campbell County. Their plan focuses on economic development initiatives that will support existing businesses and at the same time, look to the future to attract quality businesses to the area. The 3 main strategies of this 5 Year program are: I. Economic Diversification and Sustainability Business and Industry Recruitment Industry Attraction Marketing Business Retention and Expansion II. Workforce Recruitment and Development Recruit Skilled Workers and Professionals Support Local Education and Skill Development III. Investor Relations and Community Education Investor Value Legislative Affairs Forums and Annual Reporting Community Education 6

  7. Watertown, SD (pop. 21,000)Focus Watertown Program is now 10 years old and in 3rd fundraising campaign 2003: 1,451 jobs created, thanks to two call centers, a major expansion (could have gone south), and several local expansions. $115 million in new capital investment: thanks to new ethanol plant built in the city. Average compensation with benefits is $33,00. Substantial increase in city, school tax revenue and millions in revenue for utility 7

  8. Twin Falls: Southern ID Economic Development Organization (pop. 135,000) Four county ED organization Four major locations in last five years since program started. Over 20 major expansions, in all over 800 jobs created and over $100M in capital investment. In 2003, Southern ID produced 71% of all jobs created in Idaho. FYI: closest metropolitan area is 125 miles away 8

  9. Rome/ Floyd County, GA (pop. 91,000) Priorities: education, young professional workforce retention and attraction, entrepreneurial development, and economic diversification focused on rising local per capita income levels and other measures of wealth and prosperity. Strategies: comprehensive programs in education and training, talent retention and attraction, international development, economic diversification and marketing/branding. Funds are not for job creation, but rather for programs 9

  10. Albany, GA (pop. 95,000) Emphasis is Choose Albany program $ spent on web site and target industry development Concentrate heavily on existing industry development and programs related to enhancing local product. Money flows through Chamber to development commission. Area has generally be considered poorer than average Georgia counties. 10

  11. Iowa City, IA (Iowa Area Development Group) (pop. MSA 142,000) Among fastest growing communities in USA. Strong web site, accentuate relationship with university and technology transfer program. Staff of 5, workforce coordinator, research, existing industry, director, and administrative support Target industries: biotech, advanced manufacturing, IT, renewable energy, educational services (ACT home) 11

  12. Ocala/Marion FL County Economic Development Corporation (320,000 county) (54,000 city) Goal is to achieve through the “Elements of Economic Development.” These four elements are retention and expansion, workforce initiatives, community enhancements, and business attraction. Four staff, strong reliance on web site Have reporting mechanism that actually states they are losing jobs: “Between 2007 and 2006, Marion County gained only 173 total jobs and lost 231 Private sector jobs. The county had been enjoying rapid job growth for several years principally driven by the Construction sector.” “Between 2006 and 2007, Marion County had a net loss of 101 primary industry jobs. Most of the loss occurred in Manufacturing principally in the construction materials sub-sector. Also, there was a loss in the Information sector of 179 jobs.” 12

  13. Clay County, FL (pop. 180,000) New emphasis on business retention and expansion as well as start up development. Still have aggressive marketing program (general) “create 10,000 new primary jobs within a twenty year period through a multifaceted approach to economic development that includes strategies for business retention/expansion, marketing and business recruitment, business start up, workforce development, enhancing infrastructure, business climate, and funding.” Florida and US economy have hurt potential results.  13

  14. Rio Rancho/Sandoval County 6 full-time, President, VP-Business Development, Director-Retention (county paid), Development (PR) Director, Research Director, AA. $590,000 budget; (city GRT=6.975%); $350,000 salaries, fringes, and associated with personnel. $50,000 approx.- furniture, fixtures, equipment, etc. $190,000- dedicated to recruitment/marketing. Approximately 80 private sector investors; 13 at more than $10,000/year. Locations include Sprint PCS, Bank of America, Stainless Motors, Insight Lighting, Tri-State Generation and Transmission Cooperative, Inc., Aerobox, US Cotton, Permacharge, Aeroparts, Lectrosonics, Intersections, e-Telecare Global Solutions, Victoria’s Secret,and this year Hewlett Packard (1700 jobs) 14

  15. Mesilla Valley /Las Cruces 5 staff: President, Operations Manager, Manager, Business Development, Research Analyst, AA Budget: $600,000, marketing-$200,000. Significant support from NMSU, city, county (county includes Santa Teresa). Funded by public sector partners from the state, county and local levels as well as over 90 private sector businesses. Recent locations include: Rocket Racers, State Farm claims center, Client Logic, Convergys, International Expeditors, Menlo Logistics, Volt Information Sciences. Sites include: West Mesa Industrial Park (near airport), Santa Teresa Industrial Park (privately owned), NMSU business and research park (Arrowhead) 15