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DRAFT <br />Paris Economic Development Corporation <br />Business Plan - 2012-2014 <br />l. R 1 's <br /> <br />Bud et Item <br />Amovnt <br />Year 1 Current FY O eratin Bnd et Allocation to Workin Grou s for 5 Strate ies <br />A. Civic En a ement and Leadershi for Economic Growth <br />$15 000 <br />B. Global Recruitin , Attraction and Market Positionin <br />75,000 <br />C. Advanced Manufacwrin Academ and "Talent Read " <br />50,000 <br />D. Bntre reneurial Resources <br />30,000 <br />E. Rural Innovation <br />30 000 <br />Total S iit 50/50 from NeH• & ExistiQ Industr <br />$200,000 <br />Nokes on Pro osed Uses: <br />A. Trainin , Best Practices, Develo Metncs & Perforrnance Re ort Card, Fund Raisin Efforts, Public Polic A enda. <br />B. Site Visits, Marketin Materials, Website Portal, R3 Alliance. <br />C. Student $ onsorshi s, Best Practices. <br />D. Resource Guide, Grant Match, Best PracYices. <br />E. Forum. Network Su ort. Grant Match. Best Practices. <br />77 <br />. <br />ri. . e. <br />7. <br />7 , <br />Current FY Bud et Summarv <br />PEDC & Cit Council-A roved FY 2011-12 Bud et <br />$1 522 540 <br />l. Total Current Fixed Costs <br />$376 895 <br />2. Pro osed Added Fixed Costs to Im )ement Business Plan <br />28 851 <br />Totat Revised Fixed Costs <br />$405 746 <br />3. Total Bud et ObIi ations <br />S710 500 <br />4. New & Existin Business Balance as of 14/3 1 /1 I) <br />$407 699 <br />A. Diversit tnitiative PEDC Share <br />34 000 <br />B. Paris Livin A reement <br />14,000 <br />C. Additionai Fixed Costs <br />28,851 <br />D. Research 360°Anal st & EMSI Tools $15,995 total with $5 422 radirected <br />10,575 <br />E. Richard Seline Contract Extension (Fees + Ex enses <br />70,000 <br />F. 5 Strate ies Bud et Allocation to 5 Workin Teams <br />200,000 <br />G. Available Halance in New & Existin Indust Pro'ects <br />58,273 <br />5. New & Existin Business Ex enses to Date <br />$27 406 <br />Tatal Bud et with All Recommendations Items l, 3 4 5 <br />$1,522,500 <br />Recommended PEDC Board Action to Adopt the Proposed Business Plan (12/11 Board Meeting) <br />'Che following recommendations are provided for the Paris EDC Board's consideration and action: <br />l. Apprave Proposed 2012-2014 Susiness Plan. <br />A. Approve Steering Committee & Implementatian Teazn Stxucture per Bylaws aathority. <br />B. Approve Staff Changes & lncreased Fixed Costs. (FY 1]-12: +$28,85 l. Note: Year 2: $73,468 will be <br />considered during hudget process.) <br />C. Bndorse Budget Neutral Operating Expense Priorities as presented. <br />2. Set Date for Board Working Retreat to Determine: <br />A. Course of Action for: <br />1) HW 24 Matching Funds Payment. <br />2) Paris Packaging Bond Debt Repayment. <br />B. Priorities and Schedule for Givic Leadership Development Efforts. <br />C. Steering Committee and Implementation Team Leadership, Membership. <br />D. High-Level Prioritized Action Steps and Timelines for 5 Strategies. <br />B. Strategy far State, Federal & Private Fundraising Opportunities. <br />F. lnpnt on Revisions to Markating "Sales Pitch" Materials. <br />G. Priorities for Four Trade Mission Priarity Targets, Dates, Team Make-up. <br />15 <br />11 1 27 <br />