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Home My WebLink AboutEDC Renewal request - SLIDES Core Funding for the EDC Public Infrastructure Fund · Renewal Request · CY 2027–2028 PIF Board · Special Meeting · August 5, 2026 David Ballif, Executive Director 1 PIF RENEWAL · CY 2027–2028 The request $105,000 per year · EDC financial management Funds the EDC's financial-management staffing: bookkeeping, grant billing and reporting, and budget development and monitoring across all funding streams. $10,500 per year · APEX services Funds government-contracting assistance for Jefferson County businesses. Awarded to the EDC, which contracts annually with the Clallam EDC to operate the North Olympic Peninsula APEX Accelerator. Core operating support to keep EDC's basic financial function staffed. 2 SINCE THE LAST PIF AGREEMENT New funding won by the EDC FEDERAL $1.2M Recompete EDA subaward through 2029, via Peninsula College — funds the business advisor program and workforce development. STATEWIDE $60K WSMA — two maximum awards Back-to-back maximum grants ($50K, then $10K): ancient-coast.com and digital-marketing assistance for west-end businesses. LOCAL $22.5K Membership dues & fees Dues and fees for service, 2025 through mid-2026 — local businesses and supporters funding the EDC directly. More than $1.28M in outside funding won under the current agreement. 3 RESULTS FY26 business services, at a glance Combined impact across all funding sources and partners · July 2025 – June 2026 352 Businesses engaged 1,097 Advising hours 34 + 996 New jobs + jobs retained $662K New investment $21.6M Federal contracts 16 Advisors trained July 2025–June 2026 PIF & Public Sector Cabinet Activity Report, published July 2026. 4 THE 2026–2027 STRATEGIC PLAN Strategic Plan progress, January–June 2026 1 · Convener Inaugural annual event Oct 2; presentations to ICG, BoCC, City Council, Planning Commission, Transit; Chamber task force launched April On track 2 · New jobs & investment Four focus areas identified — Port Hadlock first; OZ 2.0 nominations submitted; peer-county white paper in Q4 Underway 3 · Knowledge hub New website — news section live; full launch Q4; ancient-coast.com upgrades complete On track 4 · Existing business support Advisor program in place — Cohort 2 graduated June 16; Workforce Needs Assessment published; LION: $400K+ local investment FY26 In place 5 · Organizational capacity Three board members seated; ED Associate recruited; staff development plans in place Delivered The plan commits the EDC to specific deliverables on specific timelines; the semi-annual report covers each by line of effort: https://www.edcteamjefferson.org/activity-reports 5 JULY 2026 – DECEMBER 2027 Through the end of the current plan October 2 · Our Economic Future An Evening with Timothy Egan — keynote, economic briefing, and local leaders panel at the Fort Worden Commons. Details: https://www.edcteamjefferson.org/tim-egan Port Hadlock The new Economic Development Associate starts this month, dedicated to the county's priority locations for new development. Final advisor cohort Sept–Nov in Clallam County, completing a permanent corps of Recompete-trained business advisors for the Peninsula. New website Launches Q4 — orientation to Jefferson County for investors, job candidates, and businesses. Peer-county white paper Q4 — benchmarking how other Washington counties attract jobs and investment, with recommendations for local government. Workforce convening November — employers and training partners, organized around the published Workforce Needs Assessment. 6 WHAT PIF FUNDS The financial backbone of the EDC Tracking every dollar Six funding streams — Commerce, Recompete, WSMA, PIF, the multiparty agreement, and membership — each with its own budget, invoicing, and reporting requirements, reconciled monthly. Independent oversight An outside CPA firm, NWAFM, reconciles the EDC's books and reviews its financials — third-party accountability alongside staff work. Reserves and planning A board-adopted reserve policy and deliberate budgeting have built reserves that position the EDC to make larger investments when needed and weather unforeseen circumstances. Retaining staff Retention is up. Health insurance, retirement matching, an annual professional-development budget, and structured performance reviews are in place. 7 THE PERSON BEHIND THE BOOKS Phoebe Reid · Recompete & Finance Manager PR MBA, Foster School of Business, University of Washington Runs the EDC's day-to-day financial operations: bookkeeping, grant billing, budget monitoring, financial reporting Also manages the Recompete business advisor & workforce development program STATEWIDE RECOGNITION Emerging Economic Development Professional Award Washington Economic Development Association, 2026 conference – awarded in part for her work on the EDC's internal financial operations. PIF funding supports this position. 8 ADDENDUM · APEX ACCELERATOR APEX in 2025: $10K in, $4.2M out 42 Jefferson County businesses supported $4.2M Federal contract awards to Jefferson firms 31 Matchmaking events & trainings 47 UEI registration assists 85% federally funded. The County's contribution covers 15% of the cost of services delivered here. The award comes to the EDC, which contracts annually with the Clallam EDC to operate the North Olympic Peninsula APEX Accelerator for both counties. 2026 focus: CMMC readiness and direct matchmaking with procurement agencies. Renewal request: $10,500 per year · CY 2027 and CY 2028, flat both years 9 Requested action Approve renewal of Public Infrastructure Fund support for the EDC for calendar years 2027 and 2028: $115,500 per year — $105,000 for EDC financial management and $10,500 for APEX services. David Ballif · Executive Director · edcteamjefferson.org 10