12 - PEDC Plan of Work 2023-2025Item No. 12
t r X A:
-=nECONOMIC DEVELOPMENT CORPORATION
Where Texans Reach Higher
TO: Mayor, Mayor Pro Tem & Paris City Council
CC: Rob Vine, Interim City Manager
DATE: July 22, 2024
FROM: Maureen Hammond, Executive Director of Paris Economic Development Corp.
SUBJECT: PEDC's Approved Plan of Work for FY 2023-2025
BACKGROUND:
Pursuant to Section 4.03, paragraph 4 of the PEDC Bylaws, the Board shall develop an annual plan of work
outlining the activities, tasks, projects, and programs to be undertaken by the Board during the upcoming
fiscal year. A proposed Plan of Work for the 2023-2025 fiscal year was brought before the PEDC Board for
approval during their July 12, 2024, Planning Session meeting. The Board has approved a Plan of Work,
and per Section 4.03, paragraph 4, we are submitting said plan alongside the annual budget (budgets sent
under separate cover).
STATUS OF ISSUE:
Plan of Work approved by Paris EDC Board on July 12, 2024.
PLAN OF WORK:
See attached for the Paris EDC's Plan of Work for FY 2023-2025.
RECOMMENDATION:
Accept the Plan of Work alongside the PEDC annual budget submitted to the City Manager for inclusion
in his annual budget to be presented to the City Council.
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PL,AN OF W01RK
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PLAN UPDATE
Paris Economic Development Corp.
MISSION STATEMENT
TO PLAN, PROMOTE, FINANCE, AND CONSTRUCT OPPORTUNITIES FOR THE RETENTION, GROWTH,
AND ATTRACTION OF BUSINESSES THAT ENHANCE THE LEVEL OF EMPLOYMENT, THE ECONOMIC
BASE AND QUALITY OF LIFE IN PARIS AND LAMAR COUNTY, TEXAS.
PRIMARY JOB GROWTH
As a Type A corporation, the PEDC must focus on the creation of "primary" jobs. A primary job is defined as a
job that is "available at a company for which a majority of the products or services of that company are
ultimately exported to regional, statewide, national, or international markets infusing new dollars into the
local economy." If a job meets this definition and is classified under one of the North American Industry
Classification System (NAICS) sectors listed below it can be targeted by the PEDC.
• 111: Crop Production
• 112: Animal Production
• 113: Forestry and Logging
• 11411: Commercial Fishing
• 115: Support Activities for Agriculture and
Forestry
• 211 to 213: Mining
• 221: Utilities
• 311 to 339: Manufacturing
• 42: Wholesale Trade
• 48 and 49: Transportation and
Warehousing
• 51 (excluding 512131 and 512132):
Information (excluding movie theaters and
drive-in theaters)
TARGET INDUSTRIES
• Advanced Manufacturing
• Warehouse and Distribution
• Agriculture
• 523-525: Securities, Commodity Contracts,
and Other Financial Investments and
Related Activities; Insurance Carriers and
Related Activities; Funds, Trusts, and Other
Financial Vehicles
0 5413, 5415, 5416, 5417, and 5419:
Scientific Research and Development
Services
• 551: Management of Companies and
Enterprises
• 56142: Telephone Call Centers
• 922140: Correctional Institutions
• 928110: National Security and for
corresponding index entries for Armed
Forces, Army, Navy, Air Force, Marine
Corps, and Military Bases.
• Back office and Support Centers
• Supply Chain and Logistics
• Aerospace and Aviation
2 — PLAN UPDATE 6/2023
ECONOMIC DEVELOPMENT PLAN OF WORK
The following Economic Development Plan of Work presents seven strategic initiatives and several key objectives
designed to support the Paris Economic Development Corporation in achieving its mission to create and retain jobs and
talent for Paris and Lamar County. This plan will be implemented over the next two years and is based on the
recommendations of staff, input from City Council and the work from the following PEDC committees: Incentive Review
Committee, Land Committee, Policy Revie Committee and Marketing Committee. Note 6/2020: It is the Executive
Director's recommendation that once these strategic initiatives are completed, the plan be updated to include focused
initiatives that emphasize retaining and attracting talent. While supporting the creation and retention of jobs are the
organization's core activities, retention and attraction of talent significantly impact our efforts and ability to be
successful. Additionally, the role of economic developers continues to evolve, and it is becoming commonplace for
economic development organizations to take a more active role in supporting initiatives focused on talent, quality of life,
residential housing, and more.
Authors:
Executive Director, Maureen Hammond
Board Chairperson, Josh Bray
Vice Chairperson, Curtis Fendley
Secretary/Treasurer, Chase Coleman
Board Member, Mark Homer
Board Member, Dr. AJ Hashmi
Board Member, Erik Roddy
Board Member, Stephen Terrell
Econ. Dev. Specialist, Lauren Trejo
STRATEGIC INITIATIVES
To meet the expectations driven by our purpose and outlined in our mission statement, we have established a broad set
of strategic initiatives that will help guide our activity. These strategic initiatives are as follows:
Foster the retention and growth of jobs
II. Attract new employers and industry
III. Cultivate an entrepreneurial ecosystem
IV. Support workforce development programming
V. Manage and expand the community's land and building assets
VI. Encourage unified vision for Paris, Lamar County and the PEDC
VII. Explore internal and external funding mechanisms
2 —PLAN UPDATE 6/2023
PLAN OF WORK SUMMARY AND PRIORITIES
I. Foster the retention and growth of jobs
• Establish roundtable with plant managers to encourage industry collaboration, foster opportunities, and
identify solutions to shared challenges.
• Record and track all confidential business intelligence in a CRM database to maintain data and determine
trends that will inform leadership and programming.
II. Attract new employers and industry
• Develop and update marketing materials including proposal template with new brand materials.
• Coordinate with Cox Field to target aerospace and aviation -compatible opportunities.
• Participate in call trips with Team Texas, Texas Economic Development Connection, and other partners.
III. Cultivate an entrepreneurial ecosystem
• Seek opportunities to connect entrepreneurs with existing industry and or mentors.
Connect entrepreneurs with funding sources including lenders, angel investor groups, SBA, revolving loan
funds, etc.
IV. Support workforce development programming
• Facilitate or support programming that creates opportunities for apprenticeships, internships, plant tours,
career days, job shadowing and more.
• Coordinate with Paris Junior College and the ISDs to create connections between employers and job
seekers through career fairs, jobs website, and more.
• Coordinate with Paris Junior College 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.
• Endorse and promote training and certifications that support existing industry.
V. Manage and expand the community's land and building assets
• Support permitting and development processes that differentiate our community for being business -
friendly, efficient, and solution -focused.
• Maintain an attractive appearance of PEDC-owned industrial land through signage and lawn maintenance.
VI. Encourage a unified vision for Paris, Lamar County, and the PEDC
• Conduct a community assessment to identify opportunity areas, challenges, strengths, and assets
(SWOT Analysis) that informs a Five -Year Strategic Plan.
VII. Explore internal and external funding mechanisms
• Identify funding resources that support infrastructure development and economic development projects.
3 — PLAN UPDATE 6/2023
STRATEGIC INITIATIVE I: FOSTER THE RETENTION AND GROWTH OF JOBS
STRATEGIC CHALLENGES:
• More than 80% of all new net jobs are created by existing businesses and startups, prioritizing the need for
robust programming in Business Retention and Expansion.
• The PEDC does not have a formal business survey program in place for existing industry. (Update: Survey
Program Established in 2022)
• The PEDC does not have a CRM or formally track data pertaining to existing employers. (Update: Tracking in
Confidential Database 2022)
STRATEGIC ACTIONS:
1. Determine the needs, opportunity areas, and challenges of existing employers through a formal business
site visitation program.
2. Implement a formal survey in Lamar County in partnership with Paris Junior College to understand overall
business climate, challenges in the local workforce, supply chain, opportunity areas for expansion and
recruitment and general business intelligence for our region that will inform our strategies and
programming.
3. Establish board member liaisons for existing industry and host dinners with corporate executives/plant
managers in partnership with the executive director to communicate appreciation and strengthen
relations.
4. Coordinate with local leadership of major industry to organize calling on corporate headquarters.
5. Establish roundtable with plant managers to encourage existing industry collaboration, foster
opportunities, and identify solutions to shared challenges.
6. Coordinate with the Chamber to establish a host team to assist with recruitment and hosting of executive
personnel moving to Lamar County.
7. Seek opportunities to connect existing industry to business opportunities, target relocation of suppliers and
foster opportunities for vertical integration.
8. Develop an internal incentive guideline that aligns with current revenue and fund balance to assist staff and
board in making financial decisions on retention and expansion projects.
9. Champion and support pro-business legislation and policy through participation in and outreach to TEDC
legislative affairs, Texas Association of Business (Texas State Chamber) and elected officials.
10. Record and track all confidential business intelligence in a CRM database to maintain data and determine
trends that will inform leadership and programming.
4 — PLAN UPDATE 6/2023
STRATEGIC INITIATIVE II: ATTRACT NEW EMPLOYERS AND INDUSTRY
STRATEGIC CHALLENGES:
• Site Selectors and corporate executives looking to relocate or expand generally visit a community's ED
website first, before reaching out to the community, to view demographics, existing industry, incentives and
available sites and buildings.
• The PEDC website has not been updated in over five years and does not feature a buildings and sites widget.
(Update: New website will be unveiled in 2023)
• The PEDC has minimal marketing materials, most of which are severely outdated. (Update: New materials
with completion of the branding)
STRATEGIC ACTIONS:
1. Update and enhance the PEDC website targeted to external audiences that include site selectors,
prospective businesses, community leaders, strategic partners, and media.
2. Improve information available on website to include comprehensive datasets.
3. Promote website as information hub for Paris and Lamar County.
4. Develop and update marketing materials including proposal template with new brand materials.
5. Continue to be responsive to all leads and prospects by submitting timely and thorough proposals that
highlight Paris' competitive advantages.
6. Cultivate opportunities to recruit supply -chain related companies complementary to existing local
industry.
7. Coordinate with Cox Field (City) to target aviation companies and suppliers that are compatible with
airport assets.
8. Participate in targeted networking opportunities focused on site selectors, brokers, corporate executives,
etc.
9. Identify and participate in targeted industry trade shows with Governor's Office, Oncor, etc.
10. Participate in call trips with Team Texas, Texas Economic Development Connection, and other partners.
11. Conduct Target Market Study to identify market opportunities unique for Paris, followed by a marketing
campaign to communicate information with site selection consultants.
12. Develop an internal incentive guideline that aligns with current revenue and fund balance to assist staff
and board in making financial decisions on attraction prospects.
13. Aggressively pursue feedback on projects lost to understand opportunity areas.
14. Schedule and attend trips to prospective businesses.
5 — PLAN UPDATE 6/2023
STRATEGIC INITIATIVE III: CULTIVATE AN ENTREPRENEURIAL ECOSYSTEM
STRATEGIC CHALLENGES:
More than 80% of all new net jobs are created by existing businesses and startups, prioritizing the need for
robust programming in entrepreneurship.
• The PEDC does not have formal programming in entrepreneurship.
The PEDC supported on incubator that launched in 2010 but closed shortly thereafter following lack of
unified vision on programming.
STRATEGIC ACTIONS:
1. Determine the needs, opportunity areas, and challenges of existing startups.
2. Coordinate with the Small Business Development Center and Paris Junior College on understanding
current resources and partner roles in assisting startups and determine opportunity areas for PEDC
programming.
3. Serve as the central point of contact for startups and entrepreneurs seeking to launch a business in Paris
or Lamar County.
4. Assist entrepreneurs and startups with locating space in Paris and navigating City ordinances.
5. Coordinate with the SBDC and other partners to determine needs for Startup bootcamp and other
activities that foster entrepreneurship.
6. Seek opportunities to connect entrepreneurs with existing industry and or mentors.
7. Connect entrepreneurs with funding sources including lenders, angel investor groups, SBA, revolving
loan funds, etc.
8. Record and track all confidential business intelligence in a CRM database to maintain data and
determine trends that will inform leadership and programming.
STRATEGIC INITIATIVE IV: SUPPORT WORKFORCE DEVELOPMENT PROGRAMMING
STRATEGIC CHALLENGES:
The most common challenge reported by industry is lack of skilled workers. While this is not unique to
Paris, it is a challenge that remains at the forefront of conversations with industry.
Since 2020, the PEDC has supported the creation and retention of 1,045 jobs which has increased the
demand for skilled workers.
• The demand for skilled workers is greater than ever prioritizing the need for upskilling, developing
programs to strengthen talent pipelines via education institutions and partnering with education
institutions on training and certifications for high demand occupations.
STRATEGIC ACTIONS:
1. Participate in local, regional, and state initiatives that address workforce development initiatives.
2. Facilitate or support programming that creates opportunities for apprenticeships, internships, plant
tours, career days, job shadowing, and more.
3. Coordinate with Paris Junior College, A & M Commerce, and the ISDs to create connections between
employers and job seekers through career fairs, jobs website, and more.
6 — PLAN UPDATE 6/2023
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
7. Support permitting and development processes that differentiate our community for being business -
friendly, efficient, and solution -focused.
8. Maintain an attractive appearance of PEDC-owned industrial land through signage and lawn
maintenance.
9. Establish and maintain an inventory of available sites and buildings.
STRATEGIC INITIATIVE VI: ENCOURAGE UNIFIED VISION FOR PARIS, LAMAR COUNTY
AND THE PEDC
STRATEGIC CHALLENGES:
• PEDC board members and community leaders desire to establish improved transparency and a positive
image and reputation internally and externally.
• The City, PEDC, Chamber and VCC desire to have common, shared values for the community that will
allow each entity to communicate effectively, uniquely, and quickly to our audiences.
• To our collective knowledge, a joint brand discovery that engages the community at large has never been
conducted.
STRATEGIC ACTIONS:
1. Establish a brand to create unified messaging that positions us to communicate effectively, uniquely,
and quickly to our audiences.
2. Establish a positive reputation internally and externally through brand development and awareness.
3. Establish and maintain relations with the local media and pursue stories on PEDC successes.
4. Push out content to regional media outlets, TEDC, Governor's Office, ED publications and relevant
outlets.
5. Develop and conduct public relations campaign with briefings to City Council, local civic clubs, partner
agencies and more to increase public awareness of PEDC's purpose, functions, and activity.
6. Develop and implement Social Media Campaign with metrics to increase following, build awareness
and establish positive reputation internally and externally (Facebook, Linkedln, Twitter, YouTube,
Instagram, etc.).
7. Establish monthly updates to the website.
8. Coordinate, host, and communicate new business announcements and groundbreaking events.
9. Establish a quarterly e -newsletter targeted at showcasing the organization's works and successes.
10. Conduct a community assessment to identify opportunity areas, challenges, strengths, and assets
(SWOT Analysis) that informs a Five -Year Strategic Plan.
11. Maintain and expand current relationships with the County, Civic Leaders, Elected Officials, Chamber,
City department directors and community leaders for project support and facilitation.
8 — PLAN UPDATE 6/2023
STRATEGIC INITIATIVE VII: EXPLORE INTERNAL AND EXTERNAL FUNDING
MECHANISMS
STRATEGIC CHALLENGE:
The PEDC's current cash position, debt obligations and incentive commitments have impacted the
organization's ability to remain competitive without taking on more debt for economic development
projects.
The PEDC currently receives X cent sales tax revenue compared to peer communities that average a
cent. In order to remain competitive, the PEDC will need to identify ways to complement or increase
our funding.
STRATEGIC ACTIONS:
1. Discuss additional revenue streams and funding mechanisms that will provide the PEDC the necessary
funding for economic development projects.
2. Identify funding resources that support infrastructure development and economic development projects
including EDA, TIRZ, PILOT, partnership with the City and others.
3. Pursue organizing a revolving loan fund to assist startups and entrepreneurs.
4. Support attraction of employers and projects that will greatly increase our sales tax base.
5. Support shop local campaigns and other initiatives that support growing our sales tax revenue.
6. Champion and support legislation and policy that supports economic development through participation
in and outreach to TEDC legislative affairs, Texas Association of Business (Texas State Chamber) and
elected officials.
9 — PLAN UPDATE 6/2023