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Home My WebLink AboutEDC presentation 021722IGC and Economic Development Presentation to ICG 2.17.22 Introduction New director, Cindy Brooks MBA Biz owner, entrepreneur, business advisor Philosophy - work at systems level, emphasis on community capacity building What to expect ●Short term, create a foundation for EDC growth, increasing our ability to provide services and support business and community development ●Long term, EDC as a resource hub for a place-based entrepreneurial ecosystem ●Contribute to further development of the economic framework, and EDC strategy and work plan based on who we see ourselves becoming Obstacles ●Unpredictable business environment - Covid, climate change, workforce, housing ●Difficulty in sourcing economic data and developing indicators that are current, relevant, specific ●Fragmented business support ecosystem ●Paradigm shifts in business thinking Internal Progress Opened in new location, Normura Bld at 385 Benedict St upstairs - restructuring the organization/adding systems and processes Added staff/onboarding Kathy Decker - admin assistant Studies, Surveys and Economic Data Survey - Snapshot pre grant offering - business conditions survey to determine need Area Sector Analysis Process with WA Sea Grant (ASAP) and the University of Utah Website evolution, WA Sea Grant provided embeds for our economic data page Seeking two grants for programming $ - WSMA Microenterprise and HB Jones Working with the restructured board and planning a March retreat with board development activities Opportunity to discuss the Economic Framework relative to the Multiparty Agreement and Annual Work Program External Progress Small Business and Nonprofit Grant Launched a new small business and nonprofit grant with Jefferson County from federal ARPA funding. Partnered with Jefferson Community Foundation and the Center for Inclusive Entrepreneurship for use of a grant platform and business client support. Technical Service Provider Grant - TBA Entrepreneurial Ecosystem ●Relaunched the popular Business Plan class - now online - Feb 23rd!! ●Launched the Resource Roundtable every 3rd Thursday ●Supporting LEAN programming ●Continuing to support the Small Business Development Center (SBDC) and introduce the community to its no-cost services ●Seeking support for the Center for Inclusive Entrepreneurship (CIE) ●Front door for LION External North Olympic Legislative Alliance Working with Clallam EDC’s Colleen McAleer and lobbyist Josh Weiss SB 5901 – Concerning economic development tax incentives for targeted counties. This allows counties under 600,000 to create a sales tax deferral program for manufacturing and R&D projects. It also adds “expansion” to the current sales tax exemption for the construction of warehouses, distribution centers, and grain elevators. I recommend that we support this. HB 1965 – Providing additional support and services for veterans’ assistance and for persons with developmental disabilities or mental health needs. This allows a county to move their veterans and dd/mental health levies outside the levy limit. This has been a longstanding priority for Clallam County and local veteran groups, and is sponsored by Rep. Chapman. I recommend that we support this. SB 5868 – Expanding the use of the rural counties public facilities sales and use tax to include affordable workforce housing workforce. I’m worried that this bill may affect HB 1333 that extends the .09 program, but it would be a tool to address one of NOLA’s identified priorities. HB 1933 – authorizing smaller local governments with a scarcity of manufacturing and industrial lands to establish a tax on cannabis producers and processors. Would the NOLA cities have any interest in a local marijuana tax to benefit manufacturing? ARPA Small Business Funding Allocation EDC Team Jefferson is developed a criteria and process for allocating grant funding Based on Treasury Guidance ●Financial hardship/insecurity indicated by reduced revenue/increased costs ●Reported challenges covering operating costs, rent, payroll ●Includes startups, home based businesses Enumeration Uses: Loans or grants to mitigate financial hardship, such as by supporting payroll and benefits, costs to retain employees, and mortgage, rent, utility, and other operating costs, technical assistance, startup or expansion costs, and assistance for micro-businesses including transportation costs and childcare. Studies, Surveys, Economic Data Local survey of businesses regarding ARPA funding needs ●40% doing worse / 32% doing the same / 18% doing better ●10% were not in business in 2019 ●84% have 10 or fewer employees ●41% report less than $100K revenue, 37% $100K - $500K, 11% $500K - $1MM ●Clearly identified needs; payroll, employee retention, operations ●Would like to see the EDC focus on classes, housing, grants, workforce, advising and marketing New EDC webpage https://www.edcteamjefferson.org/local-economic-data Hovee Report Draft Commerce Reporting on Small Business Assistance Startup 10/5 Annual goal exceeded BRE 51/100 Low but achievable Outreach planned Classes 21/20 Annual goal exceeded Ongoing Resource Roundtable. Upcoming Biz Plan, LEAN, and collaborations with CIE and SBDC Export 0/4 Needs specific outreach Seeking introductions Recruitment 3/4 Ahead of schedule Construction, Tourism, Manufacturing Marketing Plan 1/1 Annual goal met Goal 100% of 4 out of 6 categories Multipart Agreement & the Area Sector Analysis Process Problem: Difficulty collecting current and specific economic data, and trend analysis to guide the development of a local econ dev work plan leading to economic resilience. This is due to indicator lag time, aggregation of workforce data in rural areas, how NAICS codes are categorize by industries and cost of hiring consultants. Objective: ID industries compatible with our communities - put together a plan, create jobs, import substitution or attraction. Partners: WA Coastal Marine Advisory is exploring how to increase economic and environmental resilience in coastal communities. WA Sea Grant is partnering with the Regional Rural Economic Development Center at Utah State U. using their federal resources and support (no cost to us). Jeff Co is one of 5 counties selected. Process: Two surveys, data modeling, trend analysis, discussion, industry ID and plan. Timeline: Feb-end of May Action Required: Seek a steering committee of 10-12 representative of government and industry. 6-Month Work Plan - create a solid foundation ●Support Board development activities - roles and responsibilities, vision and mission, strategy and work plan ●Continue to create a foundation for the EDC, establish systems and processes ●Commit to use a customer relationship management platform, develop a process for Business Retention and Expansion (BRE) outreach and follow up - execute outreach ●Roll out classes - Biz plan, LEAN, Center for Inclusive Entrepreneurship (CIE), Scale-up, Resource Roundtable ●Improvements to LION workflow ●Partnership development with technical service providers ●Special Projects, America Rescue Plan Act (ARPA) grants and Area Sector Analysis Process (ASAP) ●Economic Data - choose indicators to track and post ●Communication Plan - website eval and update, newsletter and social media schedule ●Dial in reporting to the Dept of Commerce, Public Sector Cabinet and EDC Board reporting ●Develop a sustainable funding plan