Economic Development Services Overview Economic Development - - PowerPoint PPT Presentation

Services Overview

Economic Development implements the BOCC’s Economic Prosperity strategies through the implementation of programs that result in productive (business), inclusive (residents) and sustainable (environment/finances) growth and improvement. Major work program areas include:

• Targeted Industry Development
• Small Business and Entrepreneur Services (ECC)
• Minority Business Development
• Agribusiness
• EDI2 (Tech Startups)
• Competitive Sites and Redevelopment
• Workforce Development
• Cultural Assets
• Historic Preservation
• Tourism Development

Economic Development

40,046 Jobs and Job-Seekers Impacted $161MM Private Capital Investment $2MM in estimated new taxes 22,668 Total Jobs Added

Our ur Value t e to

• Hillsbor

boroug

• ugh Coun

County

• Directly supported 2,686 new targeted industry opportunities through programs
• $161MM in new private capital investment in job generating projects
• 10 Competitive Sites projects underway or completed with 2.5MM SF of industrial and 270k

SF of office space generating new ad valorem revenue

• Economic Development Innovation Initiative (EDI2) – strengthening the tech startup

ecosystem

• Tourism Development – record breaking year for TDT collections - $35MM; increased TDT 6%

for FY20; “Make It Tampa Bay” campaign to target business and workforce relocation

• Inaugural cycle of the Cultural Assets - Special Events Partnership grants launched with 22

approved projects with private match of $4.7MM to the County’s investment of $673k

• Workforce Training and Career Pathways – Manufacturing Alliance, youth internships and

community-based trainings for skill building and advancement

• Nearly 15,000 touch points and 2,705 consulting hours to entrepreneurs/small businesses
• Disadvantaged Business Inclusion – more than $60MM spent with MBE/SBE firms, 18% goal

attained

• Removing blight and reversing declining property values in our Redevelopment areas

(University Area, North Airport Area, 56th Street Area and Palm River Area) – “broken window theory” in action to deter crime and vandalism

• Historic Preservation maintaining the authentic character of the community – 15 projects

approved, valued at 11.3MM in investment

• Revitalizing industrial and commercial properties through private investment matching

grant program, increasing ad valorem revenue, $8.5MM in new projects

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Su Succe cess St Stories es

3

• North Airport

Redevelopment Area- Vacant for 10 years

• County invested $368k

in a $8.6MM project

• Assessed value increased

in one year from $3.7MM to $13.4MM

• Ad Valorem revenue

increased by $180k annually

• Now home to six

companies with nearly 100 jobs

• Removed blighted

conditions

Jetview Logistics Center Redevelopment

Before

After

Maria Leon – Onyx Cleaning LLC

• No cost business consulting

provided by the FSBDC at Hillsborough County made Maria’s business concept a reality

• Working with the County

team:

• Received contracts

totaling nearly $6MM

• Created 30 full-time

jobs and 10 part-time jobs in the last 3 years with a 90% retention rate

• Obtained a $24,000-

business loan

• Certified MBE and SBE

Maria Leon (second from right), Janette Blanco, Hillsborough County SBDC Consultant (second from left) and some of Maria’s team

Key Su Sustainability & & Per erformance ce M Metrics cs

• Small Business
• Targeted industries
• Tourism Development
• 2019 provided 2,705 consulting hours to entrepreneurs (49% - existing

established businesses and 51% - new businesses/pre-venture), 22 post- revenue, small business starts and had 37,151 technical assistance points of service at an average cost of $75.62

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• 2019 impacted 2,686 job and workforce opportunities, and $161MM in new

private capital investment. Average cost of per unit was $979.40. Average wage of targeted industry projects receiving assistance $62,680

• 2019 generated 6.1MM room nights and $35.4MM in TDT collections. Hotel
• ccupancy rates averaged 74% and revenue per night was $90.71. Average

cost of per unit was $0.07.