08 - PEDC Approved Plan of Work FY 2023-2025

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4. Coordinate with Paris Junior College, A& M Commerce, and the ISDs to support efforts that foster career pathways to middle and high school students to establish a skilled pipeline of workers for our employer base. 5. Endorse and promote training and certifications that support existing industry. 6. Partner with Workforce Solutions to support training grants that address the existing and future needs of our employer base. 7. Continue to support Paris Junior College, A & M Commerce and other regional educational institutions, workforce agencies, and training providers to promote training and certifications for high -demand and critical occupations. STRATEGIC INITIATIVE V: MANAGE AND EXPAND THE COMMUNITY'S LAND AND BUILDING ASSETS STRATEGIC CHALLENGES: • More than 96% of all RFPs received in the last five years began their search for relocation or expansion in communities that have either existing buildings or shovel -ready sites. • 71% of RFPs received in the last five years had a requirement for existing acreage and more than 36% of prospects that required land needed 50 acres or more. • In the last five years, over 68% of RFPs expressed a preference or requirement for an existing building, and over 32% of RFPs received required an existing building in order to consider a location. • More than 35% of all RFPs received during Jan. 2022 —June 2023 expressed a preference or requirement for rail in order to consider a location. • Over 45% of RFPs from 2018 — 2023 have called for 100,000 SF minimum of space. • The PEDC neither has nor maintains an inventory of available sites and buildings. STRATEGIC ACTIONS: 1. Grow the organization's land inventory to accommodate current needs of existing industry and attraction projects. 2. Continue investments and partner with the City on bringing PEDC-owned land to site -ready status. 3. Engage a consultant to assist with review and updating the Northwest Industrial Park Covenants and Guidelines approved in 2003. 4. Continue to monitor the need for existing buildings and feasibility and desire to build speculative buildings. 5. Support City in a plan for Cox Field focused on securing additional funding for capital improvements, site readiness, and aviation -focused strategies that target compatible opportunities. 6. Communicate and work with the City to identify infrastructure needs and projects that improve business districts in Paris and support future planning. 7 — PLAN UPDATE 6/2023