Flagler County Economic Development Summit Presentation
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This is the powerpoint presentation presented at Flagler County Economic Development Summit on May 13, 2010.
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Flagler County Economic Development Summit Presentation
- 1. University of Florida Cooperative Extension Service Agricultural Extension Center May 13, 2011 SCORE Project Management Team
- 4. Focus Group Project Management Structure Facilitator Economic Development Summit Identified Goals Robust Entrepreneurialism Environment Organic Growth Linked Responsive Talent Delivery Maximized Regionalism Strong Target Industry Investments Exceptional Customer Service Project Management SCORE Budget Review Committee ZOHO Project Management Software Garry Lubi John Walsh Milissa Holland Rick Fraser Michael Chiumento, III Joe Marotti Ray Smith Gene Baldrate Roger Leverton Joe Roy Dave Dobel Focus Groups Focus Group Leaders SCORE Project Management
- 5. Economic Development Summit May 13, 2011
- 11. Economic Development Summit May 13, 2011
- 19. Provide comprehensive portfolio of sites to prospective businesses that would support 50K/100K sq. ft. buildings for flexible use. Objective : Support Strategies: Product Factors Description Site Selector Definitions Raw Land: Highest risk: 1-2 yrs. before ready for construction Shovel Ready: Studies/permitting complete; roads/utility locations identified-completion within 6-9 months critical path for construction Pad Ready: All above plus; site has all permitting except building permit (vertical construction); utilities adjacent to site; site filled and ready for pad; building design for footprint complete; storm water and retention complete Occupancy Ready: All above plus; Building complete
- 25. Financial Investment Budget Breakdown : Note: 1. Budget assumes worst case that site investment will not be recovered in order to make land more affordable to potential prospects. Proposed Budget/Return on Investment Support Strategies Description Investment Cost ($000’s) Year 1 Year 2 Year 3 Product Site Portfolio Offering $1,150 $250 $700 Incentives Workforce Training/Job Creation $700 $1,150 $1,600 Organization Add’l Head Count/Increased Activity $215 $215 $215 Marketing Development/Implementation of Comprehensive Range of Activities $150 $100 $100 Total Annual Investment Budget $2,215 $1,715 $2,615 3 Year Investment: $6.5 Mil.
- 28. Economic Development Summit May 13, 2011
- 32. “ The vast majority of businesses in Flagler County provide support services.” Profile of Existing Businesses by Industry Business Census
- 37. Example: Fully Functional City Business Assistance Center Structure
- 39. Economic Development Summit May 13, 2011
- 42. Source: University of Florida Inventory Of Local Workforce Assets
- 43. Total Unemployed 10,787 Source: CBE Job Applications 2009-2011
- 44. Source: CBE Job Applications 2009-2011
- 45. Center for Business Excellence Training Providers ALPI Adv. Tech Cont. Lincoln L. First Coast Flagler Tech Inst. Fl. Tech College High Tech Tech Skills Sunshine State New Horizons Embry-Riddle Brevard Comm. College Daytona State College Lake City Comm. College Associated Training National Training Bethune Cookman Cambridge Dental Care J&J Healthcare Keiser Lake Tech Lighthouse Professional Dev & Training Central Florida Institute Daytona College Fortis College Sunshine State Tech Halifax Academy for Caregivers Social Services Health
- 46. Economic Development Summit May 13, 2011
- 59. Economic Development Summit May 13, 2011
- 65. Economic Development Summit 2011 Preliminary Financial Investment Budget/ROI Year 3 Note : Out of a total 3 yr. cash flow projection of $7,140, only 22% ($1,590) would be irrecoverable. Aside from the initial property portfolio investment in year 1 of $1,150 (16%) the balance of cash outflow of $4,400 (62%) would be directly related to the introduction of New Businesses/New Jobs. IV. 3 Year Cash Flow Projections: ($’s 000) Focus Group Investment Additional Investment Irr. Cost Invest. Cost Variable Cost Total Cost Maximize Regionalism Membership fees $20 Nil Nil $20 Target Industries Site portfolio/Incentives/Org. & Mktg. $315 $700 $1,600 $2,615 Entrepreneurial Growth Economic Gardening $140 Nil Nil $140 Customer Service Training Modules $20 Nil Nil $20 Totals Year 3 $495 $700 $1,600 $2,795 3 Year Cumulative Totals $1,590 $2,100 $3,450 $7,140
Editor's Notes
- “ Raw Land” – Least desirable situation with highest level of risk in meeting a facility start‐up schedule. The land may or may not have the proper land use and/or zoning and could take 1-2 years before construction of a building could take place. 1-2 years before ready for construction “ Shovel Ready” – At this level the basic studies have been completed, environmental permitting is complete, and the utilities and roads have been identified and timing estimated to have them in place. There is also schedule alignment for installation of roads and utilities to be within the critical path of the building construction. Below are some of the due diligence needed to be consider shovel ready. 6-9 months before construction • Business/industrial use designation • Phase I environment audits • Geo-technical studies • Topographical analysis and maps • Aerial photography • Availability of public utilities • Water system extension engineering design • Sewer system extension engineering design • Industrial quality infrastructure • Engineered site development plans • Detailed analysis of development cost • Complete information on pricing • Boundary survey • Wetlands delineation map • Archeological findings • Rare/endangered plant and/or animal report • 100 year flood evaluations A shovel-ready site should have all necessary due diligence completed (environmental assessments, wetlands delineation, etc.) Ideal Situation: all necessary mitigation is complete. Acceptable Alternative: plan in place to mitigate issues Pad Ready is all of the above plus the following: Pad ready would indicate that the site has all permitting , with possible exception of the building permit (vertical construction), the utilities are immediately adjacent to the site and it is ready to put the pad in. The site is prep is completed: lot cleared, site excavated, the bad material replaced it with good fill, designs for a specific building footprint is complete (maximize use of the lot; i.e. 50K sqft/100k sqft). Storm Water and retention complete. Why do we need pad ready sites? Because we do not have the existing facilities other communities have and to compete with them we need this extra step. In addition to this pad ready status, Enterprise Flagler will purchase building design (engineered drawings) and have a 50/100k sqft building pre-permitted also. We can than offer a prospect virtual building where the prospect can have a development order to start construction as little as 5 days.
- #6 Roger needs definition of HIPI - I was told but have forgotten, many may not know.
- [Note to John: remember that the above may lag the investment. So, in reality, the ROI for the first year may occur in year 2 rather than year 1. I’m not suggesting that we change the years on the chart to Years 2 thru 4, but you may get a question regarding the lag.]
- - Hello, I Dave Dobel, one of the SCORE Counselors assigned to Focus Group 1.
- I am delivering the results of Focus Group 1 in lieu of our Group Leader, Michael Chiumento Version 3.0, the Founder and CEO of Palm Coast Law, who unfortunately could not be here today. Fortunately, several members from our very entrepreneurial minded team are here today and will help me answer the provocative and deeply probing questions you have. The Focus Group, which concentrated on our goal to create a more robust entrepreneurial Environment and Organic Growth, was composed of a robust cross-section of public and private sector leaders. Two en-mass meetings were held at the Chamber of Commerce, augmented but a number of less formal one-on-one in-person, telephone and email conversations. ZOHO Projects was used for posting documents and meeting notes but did not work quite as well as expected as a tool too encourage collaboration.
- The team’s assignment from the March Summit, was to: (1) develop project steps; (2) develop a plan for if, how and when the steps would be accomplished; (3) link the steps to overall strategy, resources and budget to get the job done, and: (4) Proposed an ROI measurement method and calculate the expected return on their plan. Unlike the other four Focus Groups, we did not develop a set of project steps for Focus Group 1 at the March Summit. Instead gave them strategies, e.g.: Profile the needs of existing businesses Create a process for identifing/inventoring/linking to local, regional, state and others resources beneficial to existing businesses and entrepreneurs Consider simple, single interfaces to make existing businesses and entrepreneurs aware of these resources and easy to engage Underlying theme; take any pain out where we can The project steps the team developed were: - {Read/Point to bullets on chart}
- - Hello, I Dave Dobel, one of the SCORE Counselors assigned to Focus Group 1.
- I don’t think you need to list all the subcommittee members. Mention them instead Charlie Faulkner Adam Mengel Larry Woodrome Roy Tynes Nesta Abra Joseph Pozzuoli