Prosperity 2021

1. Prosperity 2021 FY 2012 Projects

2. Neighborhoods – Our Primary Focus

3. Districts – Create Great and Vibrant Places

4. City and Region Make our City Attractive and Competitive

5. City and Region Make our City Attractive and Competitive

6. City Council Budgeted $50,000 in FY2012 for Prosperity 2021 Specific Projects • Engage Powerful Marketing Force <$15,000 • Create Branding/Marketing Strategy & Program • Welcome Home Program (Electronic Postcard Campaign) • Non-Governmental Website with Social Media • Get a Neighbor, Get a Perk Program • Bounty for Business Program • Business Park Partnership Program (Now Business Ready Program) • $25,000 – Further Review by City Council • Other Economic Development Projects – Misc. BAC Efforts, etc. (Remainder $10,000) FY 2012 Projects Prosperity 2021

7. Original Proposal by Councilmen Meeker (August 2010) • Staff Proposal Presented at Workshop (January 2011) • City Council Direction from Workshop (January 2011) • City Council Goals Published (May 2011) • City Council Budget Approval (September 2011) • Revised Staff Proposal (Today) Bounty for Business Program

8. You can find them in Palm Coast. Looking for “Better Days”?

9. In the Old Days, if you wanted to bring somebody back to town, you’d hire a posse, and go get’em. And to keep the interest of the posse, you’d offer a reward.

10. So, apply the concept to “Economic Development” Using strong performance based objectives, we create a posse of residents, 75,000 strong (when I last checked), and offer a bounty or “reward” to them when they help relocate an existing business to Palm Coast. The reward will be based on the number of employees at Day 0 through Day 1000, spread out over accomplished milestones for the next 3 years. Key concepts, the business must already have an established track record in another town, the number of employees who come to town must stay the same or increase, it’s a three year deal, and the business must relocate within the city limits of Palm Coast.

11. The Long Term Goal is to increase the number of commercial and industrial businesses in Palm Coast to prevent the city from going the way of Deadwood (as seen below).

12. So how does it work? Well, the devil is in the details, but in general: 1) Somebody locates a prospective business and encourages them to re-locate to Palm Coast 2) Representing the new business, they enter into a contract with the city. The city offer a bounty of $1000 per employee when the business lasts three years in the city. The money is paid out at various milestones, for example: a) $200 per employee the day the relocated business opens up their doors (and has a business tax receipt, a lease of 12 months on a building or a building of their own, and a validated number of employees). b) at the end of the first year, a $300 per employee bounty is paid if they are still in business. c) at the end of three years, if they are still in business, the bounty is paid off at $500 per employee.

13. Here’s an example. We create a posse of 75,000 interested citizens by offering a financial incentive to go and seek out individuals interested in moving their businesses to Palm Coast. They scatter to the four winds in the hopes they will be one of the lucky ones to find a willing prospect that meets the city’s strict, but as yet undefined requirements.

14. Watch how this “go getter” does it. Mr. Canfield here is a retired executive kind of guy who has a lot of contacts with small businesses in the north east and a lot of time on his bored hands. He takes the most rapid form of transportation available, goes up to meet the owners, and convinces them Better Days will reside in Palm Coast with lower taxes and a better style of living than exists where they are. They agree, and Mr. Canfield enters into a contract with the City.

15. Mr. Canfield knows we’re not interested in guys like Butch Cassidy, The Sundance Kid and the Wild Bunch We’re looking for honest, hard working business people like those already living in Palm Coast. Entrepreneurs and the like with a positive attitude and a strong work ethic.

16. We want people with new ideas and the will to succeed. People like, well,…these guys who invented a better,…canon.

17. On the day they open up their business, providing program guidelines and other contractual specifics are met, Mr. Canfield received a check represented by the total number of employees relocating to the town times $200. In this case, Mr. Canfield would receive a check for $2000. Day 0 10 employees times $200 per employee Mr. Canfield

18. At the end of the first year, if the business is still going and the number employees is equal to or greater than the starting number, Mr. Canfield receives another check for $3000 ($300 x 10 employees) Day 365

19. If after three years, the company is still local, and still in business, and the number of employees is the same or greater than where we started, Mr. Canfield receives his last and final check, for $5000 and probably goes out and buys a new horse. Day 1095

20. Mr. Canfield is happy, he loves his new horse, we’ve helped lower local unemployment, increased the tax base, filled up an empty store front, and started to address the lopsided ratio of residential to commercial/industrial we keep talking about. And if nobody takes us up on the deal, we haven’t spent any money!

21. We get some kind of Presidential Award for fixing our own problems without using federal stimulus money!

22. I would also propose the first year budget be set at no more than $250,000

23. From there, we move onto the next great idea.

24. Questions or Comments?

25. Bounty for BusinessPresented January 2011 to City Council Program Concept Reward Citizens that Recruit Businesses to Palm Coast Program Guidelines Must be Primary Jobs (Qualified Target Industry, Produce Items/Services Primarily Sold Outside the Region) Must be New Businesses to Palm Coast and from Outside Flagler County Minimum 5 Jobs to Qualify No Financial Interest in Business or Related Real Estate Transaction(s) Reward Levels* 5+ Jobs Established for Minimum of 1 Year = $100 City Perk Dollars (Golf Course, Tennis Center, Special Events, Local Bike Shop, Ag Museum, and Other Possibilities) 11+ Jobs Established for Minimum of 2 Years = $1,000 Dollars 51+ Jobs Established for Minimum of 3 Years = $2,000 Dollars 101+ Jobs Established for Minimum of 5 Years = $3,000 Dollars *Levels are Additive If New Business Grows *Rewards Dependent Upon Availability of Funding Requires City Council Approval

26. City Council Workshop Direction/Discussion (January 2011) • Discussion on Eligibility • Realtors • Citizens • Residents • Anyone that Brings Business to Palm Coast • Discussion on Bounty Amounts and Types (cash and non-cash) • Follow Up Requested with Realtors Association • No Consensus on City Staff Proposal • Economic Development Priorities Have Evolved • Prosperity 2021 – Low Hanging Fruit First • Focus on Existing Business Community through BAC • Business Recruitment Focus Shifted to County from Enterprise Flagler • City Council Approved $50,000 for Prosperity 2021 Projects (FY2012) Bounty for Business Program

27. Bounty for Business Program Positive Aspects • Activates the Posse (75,000 Strong) • Encourages the Posse to Grow Local Economy • Reinforces Community Spirit “Grassroots Effort” • People Driven versus Government Driven • Recognizes Citizen Recruitment Efforts • 75,000 Citizens • Powerful Marketing Force Bounty for Business Program

28. Locally Funded Grant $$$ (Bounty) - Issues/Unintended Consequences • Program Design – Application, Guidelines, Contract, Monitoring Guidelines, Appeals • Eligibility – Real Estate Brokers (Ethics), Chamber of Commerce, BAC Staff, City Employees, County Employees, Loan Officers, Hospital Employees , etc. • Fraud Concerns – Identifying and Proving Responsible Party • Monitoring , Tracking, and Oversight • Staff Time, Ability • Collection of Sensitive Documents • Business Desire to Provide Documents • Front Page Test • Types of Businesses (SOBs, Pain Management, Pawn Shops) • Incentives to Recruit Businesses that Compete with Existing Businesses • Conflict of Interest (Personal, Business Relationship w/City Staff & Elected Officials) • If Not But For Grant- Would business have located here without grant? • Other Issues • Audit Requirements , Public Records Requests, Grant is Taxable Income, Appeal Process, Dispute Resolution Bounty for Business Program

29. 75,000 Citizens • Reach Millions Activating the Posse

30. Let the Secret Out • Non-Governmental Website with Social Media • Create Branding/Marketing Strategy & Program • Powerful Marketing Force • Encourage Job Creation • Bounty for Business Program • Encourage Homeownership and Reinvestment • Get a Neighbor, Get a Perk Program • Welcome Home Program

31. Create Branding/Marketing Strategy & Program • Find Your Florida Brand Identity • Brand Guidelines • Marketing Strategy • How you Found Your Florida in Palm Coast? Campaign • Social Media and Email Marketing Campaign • Welcome Home Program (Electronic Postcard Campaign) • Email Marketing Campaign and Video • Non-Governmental Website with Social Media • www.discoverpalmcoast.com • Get a Neighbor, Get a Perk Program • Call to Action – Sign Up Friends and Family for Email Marketing, Join Facebook Group, Share Palm Coast Event Pictures • Bounty for Business Program • Recognition Program – Find Your Florida Merchandise, Golf Outings, Tennis Outings, Guided Bike Rides, Etc. Engage Powerful Marketing Force Activate the Posse