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Home My WebLink AboutEDC PresentationPIF Board Meeting 2.24.23 What is an Economic Development Council? ADO The Economic Development Council of Jefferson County (EDC Team Jefferson) is designated as an Associate Development Organization by the WA. State Dept of Commerce. EDC An ADO functions as a county-wide Economic Development Council responsible for 4 categories of work. 1.Business Expansion and Retention activity 2.Business Attraction 3.Workforce activity 4.Strengthen the Business and Community Development ecosystem, through communication, education and convening. This could include research, planning, support for infrastructure development. EDC Vision Localized economic, ecologic, and social prosperity for generations to come. Mission what we do to achieve our vision EDC Team Jefferson focuses on high-leverage, place-based activities that improve the economic well-being and quality of life for people in Jefferson County, and the living systems in which we are embedded. We do this by convening businesses, nonprofits, local jurisdictions, and community partners. We support self-organizing networks and actively connect our community to business development resources and economic information. EDC Team Jefferson’s Role EDCTJ is as a hub, assisting the community in expanding the diversity of place-based small businesses and organizations necessary to grow resilience and improve quality of life. We focus on development as defined by our community, rooted in elevating our business potential and existing local organization capacity. We are establishing a facilitative leadership role as resource and convener. *Local Business Retention and Expansion (Tech assist, local capital, local biz)-Business technical assistance -Succession planning, business planning Workforce (Active Comm Network and Cultivating Human Potential, Anchor Institutions) -Career Connect grant, Jefferson Healthcare -Job Fair, Chimacum HS Selective Business Attraction Business and Community Development Ecosystem (Celebrate Local Culture and Place, Centering Equity and Diversity) -EDC Comm Plan, increase use of newsletter and SM -Targeted convening, enhancing collaboration -Work with local jurisdictions, housing, childcare (Active Community Networking, Deepening Relationship with Living World) -Agra/Aqua Culture and value added processing -Zoning, code, and land use concerns The Team Cindy Brooks, Exec Director, leadership, regenerative business and economic thinking in support of community health and wealth Douglas Hammel, Business Services Director, all things business development and supporting EDC productivity and efficiency Mikko Mead, Administrative Assistant, keeping the EDC and its clients organized, interested in food, fiber arts, storytelling and community building Staffing Report The Multi-party agreement describes an EDC with staff of three full-time employees ●Exec Director ●Business Services ●Admin Assistant Cost Estimate: Total wages: $18,350/month, or $220,200/year Total payroll exp: $21,506/mo or $258,072/year The Tech Service Partners Center for Inclusive Entrepreneurship Center for Inclusive Entrepreneurship Request for extension of PIF funding beyond June 2023 The following slides indicate the community benefit of funding the EDC. Work Activities July 2022 -Dec 2022 1.EDC Business Retention and Expansion ARPA recipients Jan-April 2022 : 133 ●“Thank you. This grant helped us get through months the winter months in which we were losing money. Our biggest cost expense has been labor.” ●Just a big thank you! As a struggling small business owner this grant has made all the difference for me, in ways that are hard to express over a spreadsheet! Businesses served July-Dec 2022: 85 Startups: 2 Trainings / Engagements Provided Business Plan Class –fall 2022 7 businesses completed LEAN Training 3 LEAN sessions provided Resource Roundtable 6 meetups –offered monthly, shared on YouTube Small Biz Development Center Report 2021 and 2022 2. Business Attraction (lowest priority) Research, planning and development is needed, code/zoning What we know: ●A number of businesses have increased production, added employees (paying better than average living wage) and would like to stay in Jefferson County as they expand. ●There is a shortage of available space. ●Jefferson County is at risk of losing them to another region that can better accommodate them. ●Currently the Port has no vacancies, and no ready-to-build commercially zoned lots. Commercially zoned property in the City and County are in very short supply. With the added complexity of extremely low availability of affordable housing and childcare, the EDC is choosing to focus on working with our public partners to stabilize and retain businesses already located here, and work with public partners over time to improve conditions for local growth and selective attraction. 3. Workforce -Residents and their Livelihoods Career Connect WA Explore Grant Awarded -Jefferson Health Care ●Preparation has begin for the Career Prep grant which will officially open March 2023 and will be due in May 2023. ●This is just the beginning of building a pathway for local students in healthcare! Chimacum Job Fair -Outreach and Support Serve on the Olympic Workforce Board and youth committee Serve on the Empower the Peninsula Advisory Team (W. Sound STEM) 4. Business and Community Development (formerly “readiness”) Economic Data and Network Building ●Data and reports collected and posted on the EDC website ●WA Sea Grant, SBDC, Project Equity, WSMA Bizlink, NODC member, Regional Clallam/Grey’s EDCs ●Area Sector Analysis Process: 5 sectors identified as priority, may be embarking upon a supply chain analysis for Maritime. ●Experimenting with network analysis as a metric in addition to jobs, revenue and capital formation Access to Capital ●Local lender outreach ●LION front door Sector Outreach ●Maritime -PTMTA, Port, boatyard businesses, Maritime Center, NW School of Wooden Boatbuilding ●Creative Sector -Project with Jefferson Community Foundation that includes the west end ●Nonprofit Sector -meetups ●Energy -Energy Futures Conference ●Agriculture/Aquaculture -Jefferson Co Growers Network and Seaweed Knowledge Symposium 4. Business and Community Development (continued) Other Organizations ●Roots of Resilience / Chimacum Center ●Chamber of Commerce ●Pacific NW National Labs ●Jefferson Land Trust, housing, conservation ●PT Film Festival, business films ●KPTZ, The Leader, PDN ●Project Equity and the NW Coop Development Center ●Capital Institute and Regenesis Group Sharing Opportunities with the Community Website Traffic Unique Visitors Ave. Time on Site 2022 8433 8 minutes 2021 4354 2.5 minutes Newsletter 1200+ New Contacts Number of opened 2022 396 18,491 2021 37 2,470 Current Grant Funded Programs, Jan-June 2023 Small Business Boost!Providing access to prepaid legal, marketing and bookkeeping services for over 60 Jeff Co businesses. Grant funding provided by the Small Business Innovation Fund Green Equity Accelerator 10-15 businesses developing a business model embedding social and environmental outcomes. Grant funding provided by BECU, First Fed, through a grant written by CIE. Uplifting Creative Entrepreneurship including all 3 districts with attention to the west end funded by Jefferson Community Foundation. Diversity, Equity and Inclusion Affinity Groups -post Covid convening and business support for those on the margins, funded by the WA State Microenterprise Assn. ●BIPOC/People of the Global Majority ●Woman-owned ●Indigenous-owned ●LGBTQ+ and non binary businesses EDC with a Full Staff Can Execute in 2023! ●Support existing programming with partners at CIE, SBDC, WSMA & Roots of Resilience, and JCF ●Run our usual Business Plan class 2X/year ●Add a Business Expansion and Succession Planning class aimed at retaining local ownership of businesses ready to transition ●Add a Pricing workshop ●Add an Excel workshop ●Add a DIY digital marketing program ●Provide our public partners with economic data and support for infrastructure projects ●Overall, uplift a developing ecosystem of support for locally owned small business Please consider extending funding for the EDC to ●Create measurable change in new and retained jobs ●Improve access to capital for small businesses ●Improve access to resources to start, grow, stabilize or sell business ●Retain local ownership of businesses seeking to transition to new ownership ●Embed entrepreneurial and sustainability thinking in early stage businesses ●Provide the community with economic data useful in decision making ●Work with public partners to identify business expansion-ready properties ●Work with public partners and local businesses to identify problems -like leakage and supply chain issues -and design solutions. Help us help businesses seeking assistance! July-Dec 2022 P&L Thank you !