E Pasco EDC quarterly update and wins

1:24:12So excited you brought him forward. It's awesome. Okay, so we still got a bunch of things to do is but build cronum. E Pasco EDC quarterly update. Bill, try to go quick if you can. We've got two more things trying to get behind you before.

1:24:24My best auctioneer voice for you today. And uh uh thank you again. Um pleased to be presenting our third quarter results for our MOU uh in agreement with the Board of County Commissioners. I do have copies uh of the presentation. Thank you. Second.

1:24:42All in favor say aye.

1:24:45And let me just first say what a pleasure to hear about the talent that we've got coming into the area as well as uh the focus on workforce. When we go out to recruit companies and have companies move here, talent is still the major driver. I mean, land is is is great, buildings are just buildings anywhere in the United States, but it's the people and uh the partnerships that we've shown here continue to actually bring us those results. Um As I go forward here, starting

1:25:15out with our presentation, I was asked to just put a little executive summary at the beginning of where we're at with our wins. So far this year we've had twelve wins, that's companies that have chosen to move here or expand here that are here to create jobs or new capital investment. Speaking of which, $127 million of new capital investment that we didn't have before, uh just in the first nine months of this year, 275 new jobs, and six hundred and ninety-four

1:25:46jobs retained. So that means the companies that we're working with here uh on competitive projects that might have moved when they start looking at real estate in other places. So So that's uh taking care of the people who brought us here is probably the most important thing we do. Um as far as new square footage, over 141,000 uh new buildings in the area, and um I'm sorry, 331 total uh square footage new, 141 of

1:26:17existing. So they're actually using some of those existing spectrum. buildings and flex buildings that uh that you all saw saw built in the past. Average wages, uh most of them are above our county average, some are as high as a hundred and thirty thousand dollars, uh some really good wages, but a good mix in making sure that we've got the right jobs for everyone. So, real quick in terms of uh our three mission focus areas: start, move, and grow your your business here in Pasco

1:26:47County. Uh the start piece, of course, is reference our uh startup community with Smart Start and our entrepreneurship programs. Uh we hosted an event for uh microloan um donors. So so far we've had over Over $2.6 million of microloans that we've issued out to local small businesses that can't uh get a loan from a bank. Uh that all came out of about 1.6 million in funding. That means we have over a million dollars that has been

1:27:17uh recirculated or revolving now on the street. So the program is working and growing. Uh we've had a a total of six hundred and fifty. I'm sorry, 732 businesses attended our workshops from Smart Start. And so far we've had at least 24 events that we've represented and got the word out of what's available for our local businesses through the Smart Start program and through the incubators. 20 companies launched in

1:27:47Q3, 12 from West Pasco. 15 from the Grove and 27 from East Pasco here in this side of the county. Just a reminder: the 12 that we're talking about in West Pasco, that's co-located with our friends at Amskills that we just heard from. We've had 54 companies to date that launched this year out of the Smart Start program. As far as recruitment goes, I touched on Some of the larger projects there, but we've had 48

1:28:18meetings and presentations to different entities that are part of that site selection process and had 18, I'm sorry, nine in-person meetings with those decision makers in other areas. So, for example, we just had some of our staff up in Minnesota called on some. Companies there at six target industries that are interested in moving to Florida. And then promoting the domestic market

1:28:48going through the United States, there's still a lot of people that want to move to Florida. So we actually get out and attend those shows with our partners like Bio International, which we co-marketed with Moffitt and Spiroz about our life sciences projects. So uh three new leads in this quarter, but 17 new projects. Uh that's pretty strong to have that many projects convert uh into projects. Of those different submissions that we've had for RFPs,

1:29:18we've had five uh that include our ready sites just this last quarter, 16 to date uh for the year. And over 28 RFPs altogether that we've responded for people looking for sites for their business. Move on to the retention piece of it and this is really a good uh indicator of the health of our business community because this is uh the existing business that we have that we're helping to grow and that's again where we spend most

1:29:49of our time is with existing business, not getting uh new business here, but helping the ones that have already come here to help them to grow. We've had uh 44 meetings with With companies that had challenges and that's helping them to grow to help remove obstacles. I'll have another slide to talk about some of those things that they experience and how we help them. Um also fifty different referrals to apprenticeship programs and workforce development partners like AMSkills. So when somebody asks

1:30:19about talent, uh we work together with our partners either in a joint presentation. Or referral, and then we've had 79 participants of existing businesses here with local business retention and expansion resources, including a workshop we did with the sheriff not too long ago webinar. Of that, we've had uh company visits, 44 year-to-date, and addressed 74. Different issues

1:30:49year to date, and you see the different categories of what they're looking at in terms of challenges that most of our businesses are calling about. Right now, technical assistance is by far the biggest thing that challenge that they've had had out there. Still getting some on the permitting licensing, where we work together with. The county staff to help shepherd them through that process. And now the of course the county has a new program with that small

1:31:19business reach program that's going to help them with permitting and getting through the process. And then also workforce again tends to be one of our biggest challenges is people want to make sure they're getting the right people. When they're making that investment. So as we grow, uh there's more and more people here and we have to help get those people to the right employers. That's what's gonna make them succeed.

1:31:48And then overall for our business development, we've got 175 projects out there right now. And in that pipeline from this year, we've had 149. In that, most of them are still coming internationally. And some of those are big, some of those are small, but that means we're getting the word out. Domestic recruitment, little uh about three-quarters of that total, and then local business is

1:32:18about a third of that. Of the wins that I I showed you before, uh we've had seven that were local expansions, we've had two foreign direct investment uh wins this year so far, and three domestic recruitment. If you look at the uh the number of leads that we've got coming in, the leads uh compared to projects still pretty strong. Um, and again, back when I first got here, we were working about 35 projects at any given time. So uh the bandwidth has has increased,

1:32:48but so has the quality in our product. And I think one of the coolest things you're gonna see coming up in the next uh year or so is a lot of. those projects that came say 10 years ago, those incentive deals are all starting to sunset, meaning that you're going to start to see the full tax benefit of all of those companies that are coming in. And if you didn't know those those projects that we bring in that you all vote incentives on. As time progresses, the value that

1:33:19they bring to the community goes up over time. And at 10 years it gets really high because they're paying full taxes at that point. Whereas, for example, housing we get that initially get some money on impact fee and things like that, but the cost of service, we start to see a decrease. So it's a direct inverse relationship between what we're doing. Doing on those commercial deals and what we're doing on residential. So I've got an intern from London that's with us through the summer, master's degree candidate,

1:33:50and he has done a study that I'm gonna bring back to you guys at a future workshop to show that relationship and to show where some of these are starting to really kick in right now from the work that you all did back 10 years ago. And then marketing still telling our story. Um letting other people tell our stories, 5.4 million to date this year in earned media, and that's where other people talk about us, not not just us. And then where are they coming

1:34:20from? Uh a lot of them now from Florida are looking at Pasco. Uh I saw the Chamber recently, uh the Florida Chamber quoted Pasco as as one of the the best and fastest growing communities in the state, and that's getting a lot of attention from our counterparts around the state. They want to know what we're doing up here. And then private sector, 92 total investors. Uh we've had four new investors this quarter: Adams and Reese, uh, Bandis Construction Company, Barbis Kramer,

1:34:51and Frederick Watkins out of Tampa. We've got uh about five hundred and twenty-four thousand as of the end of third quarter in private donations and about a hundred thousand in private. and event revenue that's also from our private side. So um We're looking forward to this next, hopefully next meeting, talking to you about the a longer-term contract with the Pasco EDC, but also want to get on your calendars October

1:35:211st, our 38th annual awards to celebrate our local communities businesses and the Legacy Award for our leadership. Award which will be for Mr. Michael Sierra. So I will stop there and see if y'all have any questions. How do that

1:35:39any questions?

1:35:40Yeah, good job.