21-PEDC 2010-2011 Quarterly Report
CITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date: Originating Department: Presented By: Agenda Item No.:
10/13/2010
Council Date: PEDC Steve Gilbert 21.
10/25/2010
RECOMMENDED MOTION:
Not an action item.
POLICY ISSUE(S):
Requirement of PEDC By-laws.
BACKGROUND:
Update of Paris Economic Development Corporation's 2010-11 Plan of Work/Quarterly Report.
BOARD/COMMISSION RECOMMENDATION:
EXHIBITS:
Agenda request form and PEDC Plan of Work
ACTION: BUDGET INFO:
❑ Financial Report ❑ Minute Order Expense $
❑ Department Report ❑ Resolution Budgeted Amt. $
❑ Presentation ❑ Ordinance YTD Actual $
❑ Public Hearing ❑ Other Acct. Name
Acct. Number
FISCAL NOTES:
REVIEWED AND APPROVED BY:
® Administration ® City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fire
❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities
City of Paris Revised 2/04/08
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REQUEST TO PLACE ITEM ON CITY COUNCIL AGENDA
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City of Paris Revised 10/23/07
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TEXAS
P R I S
Rea AwrFOR REVIEW ASP COMMENT (5-540) L'Co omit "avlopment c°r,owtion
PEDC Plan of Work
(Fiscal Year 2010-11)
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Economic Development Corporation
PEDC Plan of Work
(Fiscal Year 2010-11)
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TEXAS
P R I S
Flur Awr FOR &VIEW AND COMMENT X--540) Economic Development Corpowtion
PEDC Plan of Work
(Fiscal Year 2010-11)
PURPOSE, GOALS & DUTIES
(2010 Updated Bylaws)
PEDC's Purpose
To promote, stimulate and enhance economic development in Paris and Lamar County.
PEDC's Goals
1. To create new jobs and retain existing jobs.
2. Conduct planning, research and job training activities to promote:
i. Business retention and expansion.
ii. Formation of new business.
iii. Business attraction.
3. Develop and implement marketing strategies to promote PEDC's programs and
services and educate stakeholders.
PEDC Duties
The following duties will be the focus of the PEDC Board and Staff:
1. Strategic Planning
A. Develop an overall ED plan for the City, including long- and short-term goals to be
approved by City Council.
2. Managing, Resources
A. Manage finances within the law for economic development goals that have a direct
benefit to the citizens of Paris, Lamar County, Texas.
B. Develop parameters for ED funding requests and collaborate with the City and
County to negotiate and implement ED funding agreements.
3. Accountability Reporting
A. Prepare & submit to City Council by June 30th annually:
i. Updated ED plan.
ii. Proposed annual budget and plan of work with programs, projects and tasks for
the fiscal year.
B. Present Quarterly Reports (Jan., Apr., Jul., Oct.) and an Annual Report to City
Council by Feb. 1St
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iIXAS
P R I S
FIRST Pwr FOR REVIEW AN0 COMMENT X-5-101 Economic Development Gorp(mition
PEDC Plan of Work
(Fiscal Year 2010-11)
FY 2010-11 BUDGET HIGHLIGHTS
1. Conservative projected revenues based on '/4 cent City of Paris Type A Local Sales
Tax approved by voters in 1993.
2. Strong cash reserves of approximately $2.6M.
3. Slight decrease in major medical insurance costs with reduced benefits for staff.
4. 3% cost-of-living increase budgeted for Administrative Staff only. Requires Board
approval to implement.
5. Staff training will be provided to cultivate critical economic development knowledge,
skills, abilities and certifications.
6. Year 2 of Chamber Administrative/Rent Fees.
7. $30,000 cash matching funds and in-kind support for Red River Region Business
Incubator.
8. Increased engagement and support of the Diversity Taskforce.
9. Transition financial management in-house by October 1, 2010.
PEDC's CORE BUSINESS
TO DRIVE THE ECONOMIC DEVELOPMENT PROCESS FOR PARIS AND LAMAR COUNTY
1. Earn our Role as Paris' Lead Organization for Business Recruiting, Retention,
Expansion and Job Creation.
A. Serve as the Single Point of Contact for Prospects.
B. Develop & Nurture Collaborative Partnerships.
2. Promote and Market the Paris, Texas Brand and our Location Advantages.
A. Launch Targeted Marketing to Fill Project Pipeline.
B. Create a Quick Response Proposal Management Engine.
C. Provide Information and Tools for the Development & Real Estate Community.
3. Listen to Business and Industry and Champion Pro-Business Public Policy.
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'EXAS
P R I S
Fln,r Dvfr FOR &YIEW AND COMMENT X--540) Economic Development (.o~porwton
PEDC Plan of Work
(Fiscal Year 2010-11)
FY 2010-2011 PLAN OF WORK & ACTION STEPS
(October 1, 2010 to September 30, 2011)
1. Business Attraction & Marketing
A. Pursue industry targets and increase prospect deal flow.
B. Sell Paris' Competitive Advantages.
C. Continue to Work Current and Future Slate of New and Existing Industry Projects.
D. Conduct Aggressive, Targeted New Industry Marketing, including:
i. Attend a minimum of 4 Trade Shows/Site Visits with NETEA, IAMC, Team Texas,
Texas One, and other targeted events.
ii. Convene group of key community business leaders and entrepreneurs to identify
prospects and business relationships across the Country, as well as key site location
consultants.
iii. Agree on 2 to 4 key markets, plan, organize and execute Paris trade missions for face-
to-face meetings to sell Paris' competitive advantages.
iv. Identify and coordinate economic development "best practice" visits as a part of the
trade mission trips.
v. Potential cities include Nashville (PRMC/Healthcare, TVA), Chicago, Charlotte,
Atlanta, West Coast, NY/NJ, Washington D.C. (M International, Dick McConn),
Major Texas Metro Areas, etc.
E. Complete Marketing Content & Design Update:
i. Update the existing 2008-2010 PEDC Marketing Plan with a focus to continuously
develop fresh, current marketing collateral and maximize targeted advertising
placements, measuring the ROI. Marketing collateral to include billboard art,
marketing brochure and mailers, several advertisements suitable for magazine and on-
line publication.
ii. Refine Paris sales pitch in Power Point, Prezi and hard copy.
iii. Launch New Website and Social Media Presence and Strategy.
iv. Implement on-line proposal template tool.
v. Update and maintain robust industrial and commercial real estate portal linked to State
and National databases.
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P R I S
RurAewrFOR &VIEW AN COMMENT X--540) F.cowmic Dmelopmenr Cbrporati°»
PEDC Plan of Work
(Fiscal Year 2010-11)
2. Business Retention & Expansion
A. Prove PEDC's value to existing companies by listening and responding to their needs.
B. Manage Existing Incentive Agreements.
C. Identify Prospects for Retention & Expansion Site Visits.
D. Maximize Synchronist Prime BRE/CRM System with Regular Updates and Reporting.
E. Conduct 35 Existing Industry Site Visits in Paris and Lamar County.
F. Assist with programs for Industrial Managers' Meetings to insure value for participants.
G. Host Industry Appreciation Week events and activities (October 18-22, 2010).
H. Participate with the Lamar County Chamber, Workforce Solutions NE Texas, PJC,
NAACP, Red River Valley HR Association and other stakeholder and partner groups.
3. Red River Region Business Incubator & Entrepreneurial Supports
A. Maintain PEDC's on-going funding commitment of $30,000 plus in-kind staff support.
B. Business Plan to be completed.
C. Agree on Permanent Incubator Facility and PEDC's Capital Investment.
D. Identify and pursue grant funding opportunities.
E. Conduct facility grand opening.
F. Develop Angel Network.
G. Support recommendations in the Assessment of Rural Entrepreneurship in NE Texas
report by TIP Strategies and funded by Workforce Solutions NE Texas.
4. Maintain and Market "Site Ready" Industrial Parks
A. Continue Grounds Maintenance & Beautification.
B. Identify existing land assets & opportunities for future expansion.
C. Market C-Tech and Paris Industries buildings and other available industrial sites.
D. Consider construction of speculative building.
E. Determine PEDC's policies and available tracts for commercial and industrial use.
F. Advocate for Cox Field improvements, Airport Hangar Construction and Airport
Industrial Park Development consistent with the Airport Master Plan.
5. PEDC Reporting and Accountability
A. Agree on measurable results, track and report progress (Report Card).
B. Monitor, report and maintain financial health and compliance.
C. Cultivate and nurture key relationships (City, County, State, Regional, National).
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P RIS
Flur Dwr FOR &VIEW AND COMMENT X--5-10) Economic Developn"'"' C°'p°r` tion
PEDC Plan of Work
(Fiscal Year 2010-11)
D. Pursue Accredited Economic Development Organization (REDO) through the
International Economic Development Council (IEDC).
6. Develop and Promote a Positive, Pro-Business Climate for Paris and Lamar County by
providing Leadership and a Strategic Future Vision.
Legislative Ag_enda
A. Champion State and Local Pro-Business Public Policy Issues.
B. Participate with the Lamar County Chamber and other stakeholders to develop and
educate leaders for a proactive 2011 Legislative Agenda.
C. Participate in TEDC's legislative affairs efforts.
City of Paris Utilities and "Development Services"
D. Participate in a critical review of the City's water policies now and into the future,
including reviewing water and sewer rate/cost of service study and working with the City
to improve the process, policies and procedures related to commercial and industrial
customer rate classes.
E. Work with the City of Paris to evaluate and improve process, policies, procedures, etc.
for permits and licensing, code enforcement and other issues related to "development
services".
Downtown and Historic District
F. Evaluate opportunities to pursue a Tax Increment Finance (TIF) District/Tax Increment
Reinvestment Zone (TIRZ) for downtown and the historic district.
G. Cooperate with "Main Street" Economic Restructuring Committee efforts.
H. Cooperate to pursue a Cultural and Arts District designation from the Texas Historical
Commission.
Workforce, Talent Attraction and Diversity
1. Support and Advocate for a Young Professionals (YP) Network and Strategies to Retain
and Attract YPs.
J. On-going Engagement in Paris Diversity Initiatives, including increased staff support for
Taskforce, and sponsoring Leadership and Youth Summits.
K. Implement components outlined in the Turner Industries Retention Plan.
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