ECONOMIC DEVELOPMENT ALLIANCE 2019 2019 ACTION PLAN 360.377.9499 | www.kitsapeda.org
Connecting businesses Connecting businesses to valuable relationships and to valuable relationships and resources, shaping Kitsap’s future resources, shaping Kitsap’s future 2019 ACTION PLAN
LEAD INITIATIVES Regional Opportunities Small Business & Relationships Outreach & Assistance PTAC Investor Outreach Government Contracting Assistance Site Visits, Biz Briefings, Networking KADA Focus on Entrepreneurs Kitsap Aerospace & Startups & Defense Alliance Promote Kitsap KEDA Tech Committee as a Prime Business Location Focus On Expanding & Early Stage 2019 ACTION PLAN
2019 BUDGET INCOME SOURCES 2019 Private Sector Income & Expenses 170,000 Partner Investments $ 7,500 In-Kind Investments $ 177,500 Total Private Sector $ Public Sector 2019 Expenses by Functional Operations 92,804 State ADO Contract $ 100,000 Kitsap County Contract $ 97,500 Public contracts $ 50,600 10% Grants (Including In-Kind) $ 335,304 Total Public Sector Income $ 45,000 Event Income (Including In-Kind) $ Total KEDA Operating Income* $ 563,404 34,500 KADA Restricted Income $ 597,904 Total Income $ 25% EXPENSES Advertising, Marketing & Events $ 40,500 65% Personnel $ 358,969 Operations & Administration $ 159,939 Total KEDA Operating Expenses* $ 559,408 KADA Expenses $ 34,500 593,908 Total Expenses $ 3,996 Net Ordinary Income $ OTHER INCOME & EXPENSES Business Retention, Expansion & Recruitment Other Income & Expenses (Depn) ( 5,178) $ (1,182) Marketing & Community Development Net Income $ 1,000 Funding to Reserve $ Organization & Resource Development (2,182) Net Cash Balance $ 2019 ACTION PLAN
PERFORMANCE AREAS : 2019 ACTION PLAN
BUSINESS RETENTION, EXPANSION & RECRUITMENT Company / Site Visits & Outreach Retain, • Identify/respond to challenges facing primary expand, and business assist primary • Partner & coordinate with business assistance organizations, agencies and local jurisdictions business in • Increase support & services to startups Kitsap County • Via KEDA Tech Committee assist technology startups • Focus on small businesses, expand client base 2019 ACTION PLAN
BUSINESS RETENTION, EXPANSION & RECRUITMENT GROW GROW • Confidential business counseling • Tech Committee startup focus Business Here • Federal contracting guidance • Small Business Roundtable • Partner and collaborate 2019 ACTION PLAN
BUSINESS RETENTION, EXPANSION & RECRUITMENT Provide confidential assistance to existing PTAC & new businesses in Kitsap • Monthly government Contracting Coffee Hour events Procurement • New/increased government contracting workshops 5 Technical • Meet the Buyers and other outreach events Assistance Center • One-on-one assistance, contract and marketing material review • Collaborate with Navy Small Business directors 2019 ACTION PLAN
BUSINESS RETENTION, EXPANSION & RECRUITMENT Recruit new primary business to Kitsap KADA • Leverage relationships with DOC and other partners Kitsap Aerospace & Defense Alliance • Outreach to key markets • Improved online presence • Geo-fencing for digital marketing • KADA: Attend 5 regional & international air shows • KADA: Target firms for meetings 2019 ACTION PLAN
BUSINESS RETENTION, EXPANSION & RECRUITMENT Leverage Kitsap’s adjacency to the I -5 Regional Regional corridor & Seattle/Tacoma markets Opportunities Opportunities • Focus on Puget Sound Region industry clusters & Relationships & Relationships • Participate in key regional initiatives incl: • Aerospace Futures Alliance • Washington Maritime Federation • Washington Military Alliance • Puget Sound Economic Development District • Washington PTAC 2019 ACTION PLAN
COMMUNICATIONS, OUTREACH AND MARKETING Create & deliver messaging to promote Promote Kitsap County as prime business location Kitsap • Highlight Kitsap assets: “America’s 2 nd Most Innovative Community”; Regional leader in as a prime defense & maritime Puget Sound • Optimize advertising message: location • “More Community – Less Commute” • “Same Tech – Less Travel” 2019 ACTION PLAN
COMMUNICATIONS, OUTREACH AND MARKETING Manage & enhance KEDA’s online presence • Update/optimize website, keywords & content Maximize Maximize • Utilize SEO strategies (keywords, Google Adwords, digital digital & geofencing) • Share content & ads across multiple platforms presence presence (social media, website, blog, print, news journals) 2019 ACTION PLAN
COMMUNICATIONS, OUTREACH AND MARKETING More Community – Less Commute Highlight Highlight • Promote across multiple platforms (social media, Kitsap assets Kitsap assets WSHG ads, journals) • Optimize digital advertising • Geofencing for targeted advertising • Refresh Work+Life videos – create 20 sec. clips 2019 ACTION PLAN
COMMUNICATIONS, OUTREACH AND MARKETING Promote business opportunities, foster Inform relationships & provide market intelligence • Host annual events: Economic Forecast, Annual Meeting, and Fall Forum • Partner with WWU Center for Economic & Business Research on Top Employers Report, Economic Indicators • Partner with & support Global Entrepreneurship Week, 6 Month Startup Kitsap, Olympic Tech Collective, WWU Small Business Development Center, etc. • Create Small Business Roundtable 2019 ACTION PLAN
ORGANIZATIONAL & RESOURCE DEVELOPMENT Engage Board of Directors in BRER activities Enhance Board • Involve board members in site visits & presentations effectiveness • Provide timely market intelligence to BoD and & Investor KEDA Investor/Partners at KEDA quarterly board meetings business briefings relations • Update board (within confidentiality parameters) on case work 2019 ACTION PLAN
ORGANIZATIONAL & RESOURCE DEVELOPMENT • Optimize and update property listings and market Improve research tools client services • Improve efficiency in case management & & staff reporting – goal of purchasing CRM program • Seek additional funding to expand staff effectiveness • Utilize interns and partners 2019 ACTION PLAN
ORGANIZATIONAL & RESOURCE DEVELOPMENT • Continuously improve government contracting Focus on Focus on knowledge & services via Washington PTAC /APTAC • Support/partner with entrepreneurial & business partnering partnering organizations including: with local, with local, • 6 Month Startup • Olympic Tech Collective regional, & state regional, state & • WWU SBDC • Co-Working Venues organizations organizations • Education/Workforce Development Institutions 2019 ACTION PLAN
AN INTEGRATED ECONOMIC DEVELOPMENTS APPROACH FOR KITSAP! 2019 STRATEGIC PLAN
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