06 - Boards & Commissions - Reports & Minutes

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PEDC Board Meeting Minutes Tuesday; July 19, 2022 Page 3 of 5 The amended bylaws are provided within the board member packets for review and approval, along with the City's resolution. Dr. Hashmi made the motion to approve amended PEDC Bylaws as presented. Mr. Terrell seconded the motion Vote: 7 -ayes to 0 -nays Presentation and Discussion on 2021-2023 PEDC Plan of Work Ms. Hammond began a presentation on the 2021-2023 Plan of Work. Ms. Hammond opened the presentation by explaining that per the PEDC's bylaws, the Board is required to approve a Plan of Work on an annual basis. In the previous year, the Board approved the Plan of Work for 2021-2023. As such, Ms. Hammond stated that this presentation will cover the progress made in relation to the priorities established by the Plan of Work over the last year. Ms. Hammond stated that there were three notions to consider: First, economic development has changed over the last couple of decades. You cannot focus primarily on attraction and recruitment. Second, most net new jobs come from your existing businesses and startups, and finally, we need to prioritize working with our existing businesses and industry and help them grow. With these notions in mind, the Plan of Work established seven strategic initiatives that have guided PEDC activities over the past year. Ms. Hammond explained that the seven initiatives were as follows: First; business retention and expansion, second; attraction, and third; cultivating an ecosystem for entrepreneurs. Fourth; supporting workforce development programming, fifth; managing and expanding the community's land and building assets, sixth; encouraging a unified vision for Paris, Lamar County and the PEDC, and seventh; exploring internal and external funding mechanisms. Ms. Hammond then began discussion over key activities that were pursued to meet the objectives set through these initiatives. Key activities included, but weren't limited to, the Business Retention and Expansion Survey, the Branding/Identity project being done in collaboration with the City and the Chamber, the development of our land inventory through new land acquisitions and purchases, and the aggressive pursuit of leads provided by the Governor's Office and other sources. Ms. Hammond concluded the presentation by stating that our activity has supported the development of $20 million in new annual payroll, $37 million in new capital investment, and 400 new jobs. She thanked both PEDC staff and Board members for the time and effort that they have expended to meet these goals and opened the floor for questions. Chairman Bray commented that the report was well done and made note to thank the Council for their assistance as well. Ms. Hammond added that the Plan of Work is a fluid document, and while we would be adjusting our priorities over time asked that the Board approve the new priorities as provided in the packet. Mr. Coleman made a motion to approve the 2021-2023 Plan of Work with the amended priorities as presented. Dr. Hashmi seconded the motion. Vote: 7 -ayes to 0 -nays Convene into Executive Session: 1) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding commercial or financial information that the governmental body has received from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision (1), to wit: