Fort Walton Beach Council agenda — 08-16 & 17-2010 Special-FY 10/11 Budget — reading text

or_ g  City of Fort Walton Beach —August 2010 Innovation Center Business Incubator 105, 150: EDC Grantee, Fort Walton Beach and County -wide Benefactors 39, 335: EDC Grantee, Fort Walton Beach and County -wide Benefactors 35,000: EDC Grantee, Fort Walton Beach and County -wide Benefactors TeCMEN Incumbent Worker Training o $ 37, 129: EDC Grantee, County -wide Benefactors o $ 24, 145: EDC Grantee, County -wide Benefactors A total value of $990,759 supporting Okaloosa County businesses. The EDC staff has devoted over 693 hours to managing these grants. Assuming that at least 20 percent of the time spent on grants that benefit the City of FWB, equates to approximately 139 hours for a total of $3,487. Existing Industry Calls The foundation of the EDC's activities is based on supporting its existing industry base. The EDC staff averages over 800 business calls each year to existing businesses throughout the county. Many are repeat calls that allow the EDC staff to receive and share new information that highlight new business incentive programs or new growth or retention issues that periodically pop up throughout the year. These calls are important in gauging the pulse of the business community and determining their speck needs and issues. Approximately 30% of the calls were located in the Fort Walton Beach/ Eglin AFB area and the EDC assisted approximately 60 aviation, aerospace, defense, information Technology, life sciences and construction firms. The EDC completes a one hour comprehensive survey that assists us in identifying employment needs, current local or state business issues and addresses future needs for physical space. The confidential information collected is entered into an internal database that will be used to identify regional and local needs of businesses located in Northwest Florida. This year approximately 3 hours each was spent on the 60 Fort Walton Beach businesses for a total of 180 hours devoted to Existing Industry Calls which equates to $4,516. TeCMEN Training Participation Through the Technology Coast Manufacturing & Engineering Network ( TeCMEN), the EDC is committed to retaining and expanding its manufacturing and engineering related industries, excelling them in the competitive global marketplace, and maintaining a technologically skilled workforce to support continual growth. The EDC, in partnership with the University of West Florida ( UWF) and the Workforce Development Board ( WFDB) has secured a grant to provide advanced training to its TeCMEN members at no cost. The courses were customized based on their needs to expand the capabilities of their workforce. In the last few months, the following Training Programs have been provided: Program Management Class 1 Course Value = $ 2,200 per student Program Management Class 2 Course Value = $ 2,200 per student CMMI Course Value = $ 800 per student Negotiations Course Value = $ 490 per student Supervisory Skills Course Value = $ 1, 000 per student A total of 92 employees from TeCMEN company firms received certifications for completing these five courses. Sixty -seven or 73% of the individuals who received certificates were from firms located in the Fort Walton Beach area. The total overall cost saving to TeCMEN firms for the five classestworkshops equates to 146,900. The total cost savings to the FWB firms in terms of advanced training is equal to $97,320. The EDC continues to realizing the importance of these training programs to our local industries and is currently pursuing additional grants to train more of these local firms' employees, at no cost to any of these firms. Demographic Research and Reports The EDC is contacted on a daily basis via e-mail, phone calls and website inquiries regarding statistics for Okaloosa County and city specific data. Inquiry contacts range from consultants, business investors, residents and government officials. During 2009 -2010 the EDC dedicated over 106 hours of research and report building for the City of FWB from telephone and e-mail inquiries alone. Information requests were received from out -of- state potential new business, existing local businesses, consulting firms and residents. The requests often range Economic Development Council serving Okaloosa County www. florida -edc. orq  City of Fort Walton Beach —August 2010 from general statistics about unemployment, population and labor force to more specific data such as housing market, sales tax revenue, bed tax information and economic impact studies. The EDC dedicated 106 hours on research and report building specifically for the City of Fort Walton Beach and over 527 hours in research and reports building for areas surrounding the city of Fort Walton Beach. The research completed for the City of Fort Walton Beach equates to $ 2,672 and over $ 13,000 for areas surrounding the City of Fort Walton Beach. EDC Listens The EDC is continually coming up with innovative ideas to reach out and assist our business community. The EDC's Chairman, Gordon Eldridge ( President of the local BAE Systems operation) instituted a membership partnership program that was kicked -off with the financial institutions in Okaloosa County. This program, titled EDC Listens," first met with its financial partner members to discuss ways the EDC could help them in generating new business activities. Three action items came out of the meeting: ( 1) Form a Banking Consortium; ( 2) Develop a Financial Capabilities Sheet; and ( 3) Host a Defense Financial Needs Seminar. All three action items are being developed to help increase the ability of our banking industry to market their individual institution' s focus with their business customers and to make them more aware of the growing defense industries special financial requirements. Partnerships The EDC has formed new advanced partnerships this year with the Tourism Development Council, the Okaloosa County Airports Directors' office, and the City of Fort Walton Beach and the Fort Walton Beach Chamber of Commerce. These long -term partnerships are designed to support a unified approach to marketing and improving the business and tourism climate in our county. Overall Value to the City of Fort Walton Beach In support of the EDC's mission, the organization devotes the majority of its time on the programs and activities mentioned above. These activities have a direct bearing on the public sector dollars that are approved by the The jobs created by local companies and new targeted industries that locate in county and the municipalities. Okaloosa County create new wealth and elevated incomes that help stimulate growth throughout the local economy. The EDC provides a unique set of services to the business community that helps them reduce the impact on their bottom line. As a non -profit organization, the EDC uses its public sector dollars to service the business community and their employees who enjoy a per capita personal income (PCPI) that is 102 percent of This is a remarkable figure when compared to other Northwest Florida Counties. the State of Florida average. This accelerated income level generates additional revenue to the local governments through property tax revenues. The dollars the EDC receives from its public sector partners have a high return on investment (ROI) that far exceeds the actual dollars that are appropriated to this organization each year. Beside the time the EDC staff has put into the grant application, management and coordination with each of these firms and the instructors, the current value and future value to our existing industries is immeasurable! Your EDC dollars are an investment that benefits all citizens throughout the City of Fort Walton Beach. The EDC devoted over 1, 098 man hours or $ 27,561 to activities directly related to supporting the City of Fort Walton Beach. The total value of the EDC's involvement in programs and activities in the Fort Walton Beach area exceeds $ 10 million. The EDC respectfully requests $ 14,000 in public funding from the City of Fort Walton Beach to continue these services which benefit the city and its local business members. Economic Development Council serving Okaloosa County www.florida- edc.org  Appendix A - Value for the City of Fort Walton Beach Compiled August 2010 Economic Development Council serving Okaloosa County Investment and Value for the City of Fort Walton Beach FY 2009 -2010 Report EDC Programs and Initiatives Staff Hours Average Wage of $25.09 Projects ( 16 active projects) 640 16,058 Emergency Bridge Loan Committee 33 828 Grants Coordination 139 3,487 Existing Industry Calls (3 hours each) 180 4, 516 Demographic Research and Reports 106 2,672 1098 27, 561 Other Important Figures Value FWB Approved Emergency Bridge Loans 11 $ 275,000 TeCMEN Advanced Training Participants 67 $ 97,320 Jobs Created as a result of EDC Efforts 232 $ 9,960,688 10,333,008 Source: Average Wage calculated from the Florida Occupational Employment and Wages ( OES) for the Fort Walton Beach-Crestview -Deshn MS& Wages calculated from the reports provided by the Florida Agency for Workforce Innovation and the Labor Market Statistics Center. Data extracted May 2010. Economic Development Council serving Okaloosa County, FL www.florida- edc.org 850- 362 -6467  Page 1 of 2 Helen Spencer From: Caroline McCoy [caroline@florida- edc.org] Sent: Monday, August 16, 2010 2: 55 PM To: Mike Anderson; Mike Holmes; 'joyce Billie gossom'; Dennis Reeves; Mike Minich; Robert Nabors; Dick Rynearson Cc: Robert Meams; Helen Spencer; Brandy Wunker; 'Lary Sassano'; ' Kay Rasmussen'; ' Debbie Bodenstine' Subject: RE: EDC Public Support - City of Fort Walton Beach Partners Importance: High Dear City of Fort Walton Beach Partners: Please find attached the EDC Public Funding Report for the City of Fort Walton Beach. A hard copy of this report will be provided to you at tonight's City Council Budget Meeting. We look forward to seeing each of you soon! Sincerely, Larry Sassano President Economic Development Council serving Okaloosa County 850 -362 -6467 Office larrys@florida- edc.org www.florida -edc.org Sent through: Caroline McCoy caroline@florida- edc.org From: Caroline McCoy [ mailto:caroline@florida- edc.org] Sent: Tuesday, August 03, 2010 7: 23 PM To: ' manderson@fwb.org'; ' mholmes@fwb.org'; Joyce gillie gossom'; ' dreeves@fwb.org'; ' mminich @fwb.org'; mabors@fwb.org'; ' Dick Rynearson' Cc: ' bmearns@fwb.org'; ' hspencer@fwb.org'; ' bwunker@fwb.org' Subject: EDC