Presenter: John Cappellino, Executive Vice President Erie County - - PowerPoint PPT Presentation

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Presenter: John Cappellino, Executive Vice President Erie County - - PowerPoint PPT Presentation

Mar 29, 2024 303 likes •632 views

Presenter: John Cappellino, Executive Vice President Erie County Industrial Development Agency Best Practices Economic Development Advocacy Organization Grant Funding from NYBDC to Keep Costs Down Center for Governmental Research, Rochester,

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Presenter: John Cappellino, Executive Vice President Erie County Industrial Development Agency

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Center for Governmental Research, Rochester, NY

 Not-for-Profit, in business for 98 years  Founded by George Eastman ( KODAK)

  • Serve the public interest by advising local governments in

the strategic use of public dollars and keep citizens informed Best Practices Economic Development Advocacy Organization Grant Funding from NYBDC to Keep Costs Down

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Direct ct: the recipient of assistance adds new or retains jobs at risk of being lost to the regional economy, projects that displace jobs, ie: retail do not fall under this category. Indirec ect: the recipient of assistance make purchases of materials and services from regional firms, which stimulates suppliers to add jobs and payroll, resulting in new or retained economic activity in the region. Indu duced: d: the recipient of assistance, through their payroll, employees household spending, purchase goods and services that stimulate the local economy Mult ltip iplie ier Effect

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Welded Tube USA

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Incentive Layering

Cost Benefit/Wealth Creation

Base Incentive Level

Physical Site Issues, Cluster Industry,

Compliance with Regional Goals

Increased Benefit

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Targeted Industries Distressed Area Brownfield Development Adaptive Reuse Framework Compliance Historic District/Structure Locally Headquartered Wealth Creation Demonstrated Flight Risk Industry Sector Risk

Incentive Layering

Increasing I Incenti tive L Levels/I /Increasing C g Commu

  • mmunity

ty I Imp mpact t

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Layered Incentive Model

Property Tax Abatement %

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Location Centric

  • Local Government Designation – (.5)

Cluster Industry

  • Advanced Manufacturing – (2)

Economic Impact

  • Out of Region Sales > 30% – (1)
  • In Region Purchases > 50% – (1)
  • Employment Average Wage > – (1)
  • New Jobs (75) – (3)
  • Overall ROI > 15 to 1 – (1)
  • Local Revenue/Abatement Ratio > 2 to 1 – (1)
  • Retention Flight Risk – (1)

Research Budget Innovation – (1)

Investment Energy Reduction Technology – (1)

Total Score = 13.5 points

Qualifies For Enhanced J Jobs P Plus P PILO LOT

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Questions: Contact Info: John Cappellino jcappell@ecidanyl.com Phone: 716-856-6525 ext. 118