Table of Contents Page Carroll County Highlights 3 Regional - PowerPoint PPT Presentation

Table of Contents Page • Carroll County Highlights 3 • Regional Factors 6 • Economic Development Success 10 • Financial Highlights 38 • Financial Management 56 • Final Thoughts 70 • Contact Information 73 • Supplemental Information 74 2

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Carroll County Commitment Feeling good in Carroll County, we will tell you: The Board of Commissioners is committed to: Economic Development • Many economic development success stories • Strong economy in a diverse Metropolitan Statistical Area • Businesses continue to choose Carroll County Conservative Approach to Fiscal Management • We continue to support a conservative approach to fiscal management • Ratios and financial indicators are positive 4

Carroll County Commitment Education Funding for a Successful School System • Ranks as one of the top performing school systems in Maryland • Highest graduation rate and lowest dropout rate • Students consistently score above state and national averages on standardized student assessments Maintaining an Excellent Quality of Life • One of the safest and healthiest counties in Maryland • Ranked as SmartAsset’s Best Value for Your Money in Maryland & Southern PA • Four nationally recognized towns for quality of life 5

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Regional Influencing Factors • Carroll County – nestled between D.C. and Baltimore, located in the Washington-Baltimore-Arlington Combined Statistical Area. • Carroll is part of the most highly educated, highest income and fourth largest combined statistical area in the U.S. with a population of nearly 10 million. • Carroll benefits from the huge business, education, health and government opportunities of the area. 7

Maryland is Strong • Maryland maintains AAA ratings from the three major bond rating agencies • 2nd highest % of professional and technical workers in the nation • Higher Education: 57 accredited institutions (39 four-year and 18 two-year) with total enrollment over 357,000 • Port of Baltimore: the nation’s leading Roll On/Roll Off port • Maryland businesses have an edge in federal funding and research • Home to Maryland state offices, the National Security Agency (NSA), as well as the Social Security Administration and the Centers for Medicare & Medicaid Services (CMS ) 8

Carroll County 2018 Themes  Robust Economic Development Growth  Steady Assessment/Income Growth  Strong Positive Change in Long-Term Liability  Strong Fiscal Management 9

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Strategic Economic Development Assets • Proximity to major transportation hubs • Labor force over 95,000 • Variety of industrial sites from 1-169 acres • Properties located in or near incorporated towns with infrastructure in place • Parks include Westminster Technology Park, Carroll County Commerce Center, Warfield at Historic Sykesville, and North Carroll Business Park • Outstanding workforce; highly educated; proven work ethic • Major employers include several long-standing pillars in sectors including publishing, healthcare, higher education and light manufacturing 11

Carroll County Pillars 1967 1867 1983 1965 1896 1996 1962 1991 1961 1897 1976 1964 1976 1989 12 1980 1971

Educational Attainment Carroll County Maryland U.S. High School Graduate 30.6% 25.4% 27.5% Bachelor’s Degree 21.4% 20.7% 18.8% High School Graduate or 92.1% 89.6% 87.0% Higher 100.00% 92.10% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.60% 30.00% 21.40% 20.00% 10.00% 0.00% High School Bachelor’s Degree High School Graduate Graduate or Higher Carroll County Maryland U.S. Source: U.S. Census Bureau 2000 and 2010 of Population and Housing, persons 25 years and over 13 U.S. Census Bureau 2016 American Community Survey

Workforce: Our Competitive Advantage • Well-Educated Workforce – Business/Employment Resource Center • Total Customer Visits: 11,794 • Total Businesses Served: 346 • Job Fairs/Recruitment Events: 36 – Community College Business & Workforce Training – Career and Technology Center • Small Business Development – Miller Center for Entrepreneurs – Small Business Development Center – Small Business Loan Fund 14

Businesses Talk Carroll “What is critical for us and a reason we moved to Taneytown, is available workforce, particularly the quality of the workforce.” - Joe Mandato, Executive V.P., Evapco “When we looked for a new location, one of the attributes we looked for was a stable workforce. We have good success at recruiting new people here and find the availability and quality of people in this area to be very good .” - Daniel Cooper, CEO, Fuchs North America 15

Unemployment • Carroll County – consistently has one of the lowest unemployment rates compared to other Maryland counties • Average unemployment rate of 3.6% in CY 18 Carroll County Maryland United States Average Unemployment CY 09 6.4% 7.0% 9.3% 10.0% CY 10 6.8% 7.7% 9.6% 8.0% CY 11 6.2% 7.2% 8.9% CY 12 6.0% 7.0% 8.1% 6.0% CY 13 5.6% 6.6% 7.4% 4.0% CY 14 4.9% 5.8% 6.2% 2.0% CY 15 4.4% 5.2% 5.3% CY 09 CY 10 CY 11 CY 12 CY 13 CY 14 CY 15 CY 16 CY 17 CY 18 CY 16 3.6% 4.4% 4.9% Carroll County Maryland United States CY 17 3.4% 4.1% 4.4% CY 18 3.6% 4.3% 4.0% Sources: United States Department of Labor, Bureau of Labor Statistics Maryland Department of Labor, Licensing and Regulation 16 Notes: 2018 figures are averaged through July 2018. Only the national unemployment rate is seasonally adjusted.

Carroll County Broadband • Carroll County Public Network (CCPN) – over 110 miles of fiber optic lines throughout the county • Over 130 local and state agencies are connected to the network • Business Leasing Program • Multiple leasing contracts have been signed since 2014 • Carroll Broadband Grant - assists in leasing dark fiber to last mile businesses and internet service providers 17

Tourism Stronger Than Ever • Tourism attracts visitors to Carroll County where they purchase goods and services; it encompasses many business sectors including hospitality, transportation, retail and entertainment. Tourism adds significant dollars to the local economy. • Tourism sales increased to $120 million. Carroll County Farm Museum Union Mills Homestead 18 Carroll County Barn Quilt Trail Source: Comptroller designated tourism taxes

Carroll County Regional Airport • Proximity to Baltimore, Washington, D.C. and southern PA • Reliever airport to Baltimore/Washington International Thurgood Marshall Airport (BWI) • 6 th largest non-military runway in Maryland • 82 T-hangars; seven corporate hangars, 50 tie-down locations • New 5500’ runway in development; FAA approved; acquiring land • Over $800,000 income annually • Enterprise fund forecasts positive revenues all years forward 19

Expansion Projects 2016-2018 20

• World headquarters manufacturer • Distributor of books • of products for evaporative cooling 192,000 square foot addition • and industrial refrigeration $14 million investment • 140,000 square foot expansion • 1.6 million total square feet • $20 million investment • 300 additional jobs created • 420,000 total square feet • 100 additional jobs created 21

• • Manufacturer of customized Manufacturer of cement products metal products • • 75,000 square feet expansion 4.6 mile conveyor belt • $150 million investment in new facility • $8.5 million investment • 40 additional jobs created 22

• • Customized solutions for needs of Manufacturer of pressure fixed/mobile wireless operators, sensitive adhesive and flexible wireless infrastructure vendors, materials • and wireless consulting companies 65,000 square feet • Expanded by 20,000 square feet • $6.5 million investment • $2 million investment • 50 additional jobs created • 40 additional jobs created

• Modern business park • 25,000 square foot spec building • $3.7 million investment • Total of 225,000 square feet at build out • Total investment $35 million 24

New Business Attraction Projects 2016-2018 25

• • Manufacturer of customized $54,000/year co-ed, private, international boarding/day school spices and seasonings • • Four buildings on 26 acres 240,000 square feet • • 85,000 square feet $40 million investment • • $14 million investment 175 jobs • 47 jobs and growing 26

Advanced Thermal Find Solid Corporation Batteries • Manufacturer of residential, • Manufacturer of thermal commercial and industrial batteries for US Dept. of • Manufacturer of residential, doors and hardware systems Defense and Prime commercial and industrial doors • Manufacturer of thermal Chinese company; 1st U.S. Contractors and hardware systems; Chinese batteries for US Dept. of Defense • 40,000 square foot facility location company; 1 st U.S. location and Prime Contractors • 50,000 square feet • $6.8 million investment • 50,000 square feet • 40,000 square feet • $5 million investment • $5 million investment • $6.8 million investment • 100 jobs • 27 46 jobs