Backup Documents 12/11/2018 Item #11BEconomic
Development
Program
Economic diversification to achieve economic
stability has been a BCC strategic goal since at
least 1996.
•Strategic Goal: To support a business climate that
promotes a sustainable, diversified, and growing
economy.
•Community Expectation: Develop a well-balanced
and diversified local economy.
•Explanation: Collier County provides resources and
incentives to encourage the growth of successful
local businesses, and the relocation of new
businesses to Collier County.
2
BCC Strategic Plan (2017)
Office of Business and Economic Development
Mission: Implement a successful program of economic policies, strategies and tactics that improves Collier’s competitiveness
as a business-friendly location for capital, talent, innovation and entrepreneurship.
Goals:
•Improve the local business climate
•Promote creation of high wage jobs
•Facilitate business retention and expansion initiatives in the County
•Align State, regional and local economic development planning efforts to optimize resources and results
Objectives:
•Coordinate County programs and services that influence our local economy
•Create a seamless, one-stop business unit for business development support
•Eliminate County barriers to business growth and expansion
•Implement a business incentive policy that is transparent, targeted, competitive and fiscally responsible
Business Retention & Expansion
Partnership for Collier’s Economic Future -$100,000 (FY 19)
Business Attraction
Southwest Florida Economic Development Alliance -$100,000 (FY 19)
Entrepreneurship
Economic Incubators, Inc. -$600,000 (FY 19)
Naples Accelerator and Florida Culinary Accelerator @ Immokalee
PARTNERSHIPS
Bus & Econ
Development
Retention/Expansion
Attraction
Entrepreneurship
Emerging Partnerships
Established Allies:
•FGCU SBDC
•CareerSource SWFL
•Southwest Florida RPC
•Grow Florida
•Enterprise Florida
•Florida Power & Light
Comparable County Study
County FY 19 Annual County
ED Operations Budget*FTE Per Capita
Charlotte County $1,256,999 6 $6.90
Sarasota County $1,622,550 3 $3.87
Lee County $1,529,635 8 $2.07
Collier County $883,100 4.75 $2.36
In September and October, Exec. Director and
OBED Director visited Charlotte, Sarasota, and
Lee County Economic Development offices.
•General Takeaways:
•No one right way to do economic
development
•All offices focused on business retention,
expansion, and attraction
•Other counties handle more of the operations in-house as related to outsourced partners.
•Countywide branding initiatives are underway or complete in all counties visited –synergy between
multiple agency offices.
*Includes FY19 personnel and operating budgets for County Offices
FY 19 Budget & Program Totals
Program FY 19 Total FY 12 –FY 19
Office of Bus & Econ Development $608,100 $2,958,072
Partnership Contracts $275,000 $1,470,474
Accelerator Project $600,000 $2,292,809
Economic Development Incentives $580,400 $2,888,682
Total $2,063,500 $9,610,038
In addition to partnership contracts and
OBED, funding is allocated in the following
manner to Collier County’s economic
development program:
•Economic Development Incentives
•Variety of different financial
programs to promote the creation of
high-wage jobs and capital
investment.
•New Programs –Opportunity Zones,
BCC-created Innovation Zones, Certified
Sites
Incentive Programs
•Basic Industry Growth Incentive Program (Job creation)
•State of Florida QTI Tax Refund Program (Job creation)
•Advanced Long-term Productivity Strategy Incentive Program (Job
Creation)
•Capital Investment for Diversification Incentive Program (Capital
Investment)
•Florida Power & Light (FPL) Incentives (Rate reduction)
Incentive Usage
•Since FY 12, Collier County has paid out approx.
$2.9 million in financial incentives to promote job
creation, resulting in 1,195 direct jobs created and
committed.
•REMI studies conducted by the RPC project that
another 2,516 indirect or induced jobs were
created.
•Net job creation in Collier County has been 25,648
during the same time period.
Project Direct Jobs Indirect Jobs Investment
Florida Specialties 12 280 $89,000
Animal Specialty Hospital 3 47 $54,000
Guadalupe Center 5 97 $50,000
Haynes Corporation 42 154 $149,643
Anchor Health 10 854 -
Arthrex 990 1,084 $1,965,818.97
ACI*57 --
First Bank**6 --
Naples Accelerator 56 --
Culinary Accelerator 14 --
FY 19 Budgeted Incentives $580,400
Total 1,195 2,516 $2,888,682*
*Includes committed jobs
**Impact fees ($151,000) will be returned over 5 years. Includes committed jobs.
Sources: Various Internal Audit documents, OBED Masterlist, and
Regional Planning Council REMI Studies
FY 19 Budgeted Incentives
Economic Development Incentives (FY19)
Arthrex Advanced Broadband $8,400
Arthrex CID #1 $41,200
Arthrex CID #2 $143,300
Arthrex Job Creation $66,700
Position Logic $29,400
Project ICE ALPS (ACI Worldwide)$143,000
Project Incentive Contingency $137,500
State Targeted Target Industry $10,900
Total $580,400
New Programs & Future Projects
•Certified Sites Program
•Innovation Zones
•Opportunity Zones
•Collier County Economic Scorecard
•Qualified Targeted Industries Study
Backup Slides
Economic Development
•SWFL and Collier County continue to grow robustly.
•More than ½ population growth will be 45 and older.
•Current average wage is $47,924 in Collier County –approx. $3k
higher than State1.
0
100,000
200,000
300,000
400,000
500,000
600,000
2020 2025 2030 2035 2040 2045
Collier County Population Estimates2
Sources:
1. Bureau of Labor Statistics, Quarterly
Wage Census
2. Bureau of Economic and Business
Research, Projections of Florida Population
by County, 2020–2045, with Estimates for
2017
Collier’s Economy
•Economy largely dependent on legacy industries –agriculture,
construction/real estate, hospitality.
•High concentration in cyclical, service-based jobs.
•Good times are better, bad times are worse.
Occupations Gaining the Most New Jobs (2017-2025)
Rank Industry 2017 2025 Growth % Growth Wage (M)
1 Retail Salespersons 7,483 8,749 1,266 16.9%$ 12.53
2 Groundskeeping Workers 5,489 6,271 782 14.2%$ 12.35
3 Registered Nurses 2,922 3,473 551 18.9%$ 32.77
4 Construction Laborers 2,615 3108 493 18.9%$ 14.03
5 Food Prep Workers 3,217 3,696 479 14.9%$ 10.27
6 Cooks, Restaurant 2,846 3,319 473 16.6%$ 13.90
7 Waiters and Waitresses 5,931 6,403 472 8.0%$ 12.57
8 Painters, Maintenance 1,908 2,343 435 22.8%$ 14.74
9 Nursing Assistants 1,544 1,925 381 24.7%$ 13.70
10 Carpenters 2,333 2,702 369 15.8%$ 18.68
Source: Florida Department of Economic Opportunity (2017). Labor Market Information, Employment Projections.
Retrieved from: http://www.floridajobs.org/labor-market-information/data-center/statistical-
programs/employment-projections
Strengths:Industry-standard,high-quality tools to incentivize growth;strong
Chamber and non-profit community;
Weaknesses:High-concentration of employment in cyclical industries;lack of
affordable workforce housing;
Opportunities:County-wide marketing and branding;maturation of the
entrepreneurial ecosystem;
Threats:Possible slowing of the economy;significant shortfall of replacement
workers for future retirees.
17
SWOT Analysis
FY12 –FY 19 –Economic Development
FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 Total
OBED $58,686 $174,007 $429,060 $341,370 $350,832 $507,388 $488,629 $608,100 $2,958,072
Partnership
Contracts
$50,000 $73,169 $139,691 $125,859 $256,761 $274,995 $275,000 $275,000 $1,470,474
Accelerator
Project
___$45,272 $468,246 $532,523 $646,769 $600,000 $2,292,809
Incentives $639,936 $70,000 $84,999 $309,001 $333,334 $404,000 $467,013 $580,400 $2,888,682
Total $748,622 $317,176 $653,751 $821,502 $1,409,173 $1,718,906 $1,877,409 $2,063,500 $9,610,038
Economic Development Benchmarks
Indicator FY 2014 Target Collier 2018 2018 Target FY 2019 Targets
Year over year employment
growth
Highest among similarly
populated counties
1.8% Davis County 2.8 Highest among similarly
populated counties
Net Earnings growth rate 5% > state average 2.5% FL= 1.6 Meet or exceed state average
Gross County Product growth
rate
5% > state average 1.2% FL= 2.5% 2 points > state average
Unemployment Rate 1 point < state average (FL =
6.5%)
3.1%FL= 3.0%1 point < state average
Gains in Average Wages 3-5%6.2% 3-5%3%
Average Annual Sales Tax
Growth
5-10%13% 5-10%3%
Property Value Growth 3% > state average gr. (FL gr.
= 9.7) target 12.7%
13.4% (2016) 2.5% (2018)FL= 7.7%3 points > state average gr.
Industry Diversification n/a 3rd in FL Top tier in FL
Number of actively managed
projects
20 17 20 20
Percentage of prospects
making a commitment
35%29.4%30%
Committed Jobs 5% growth > baseline (base=
2013)
1061 (2018)5% growth
National Rankings
•The Naples-Immokalee-Marco Island metro area
—or Collier County —ranks 18th this year on The
Milken Institute's index of "Best-Performing Cities"
in the nation.
•No 3. in job growth measurements
•Top 20 in high-tech GDP growth
•Top 20 in five year wage growth
•Collier County ranked No. 55 on the U.S. News &
World Report “Best Jobs of 2018” ranking list. This
ranking was top in Florida.
Positive Impacts
•Our unemployment rate dropped to 3.1 percent in October 2018 from 4.1 percent a
year earlier.
•In 2017, Collier-based companies won 296 DoD contracts totaling $45 million.
•Our strong economy is home to the 15th fastest growing city in America (up from
the 20th fastest growing in 2016)
•Our taxable sales experienced a 5 percent year-over-year growth to $772 million in
March 2018.
•Successful monitoring and management of incentive programs and adding three
new incentive programs to our portfolio.
•Establishment of a Government Contracting Roundtable which was attended by 55
local businesses.
Government Contractors Roundtable
•Date of event: August 16, 2018
•Number of attendees: 50 participants
•New vendors: 1 new vendor registered
with Collier County
•Total Vendors (2000-2017): 115
•DOD Contracts (2000-2017): 4063
•DOD Contract Value (2000-2017): $283
million
•Source:
www.governmentcontractswon.com
retrieved Nov 19, 2018
One Million Cups
•1 Million Cups, sponsored by the Kauffman Foundation,
offers a free program to educate, engage, and inspire
entrepreneurs nationwide.
•The Naples Accelerator held its first meeting of the program
on November 14, and will offer it every second Wednesday
of the month from 9 –10 am.
•Two local global businesses, Naples Accelerator member
Logiscool, and Marvee, a North Naples startup and
consulting service were the first presenters
•The coffee sponsor was Guadalupe Roastery, from the
Florida Culinary Accelerator @ Immokalee.
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