EDC Status ReportPrepared for the Franklin County Commissioners

August 13, 2012

In January, published the EDC Challenges & Opportunities document as roadmap for activity for 2012

Improvements have been made in nearly all areas

Difficult road – lots of resistance to change and improvement

Setting Goals & Moving Mountains

Part I: Review Key Goals for 2012

Strengthen EDC Board & Improve EDC operations

Capital Access Programs

Improve EDC PR and Marketing

EDC Budget

Adopted formal Mission Statement Adopted formal working By-Laws Adopted County Personnel Policy Working to structure formal policy and management

process for operation of office like:◦ Accurate time keeping

◦ Travel requests approved in advance

◦ Line item budget expenditures approved in advance

◦ Board reviews and signs off on claims

◦ Better management oversight of operations by Board

Working to establish mission & goals

Strengthen EDC Board & Improve EDC Operations

Established this initiative in January in the Challenges & Opportunities document

Directed former director to start working towards accessing capital access grants at the beginning of the year

Continuing to develop opportunities for capital investment

Number one thing necessary to attract and retain business - capital

Capital Access Programs

Website still in limbo◦ Stymied by former director & current web developer

◦ Can’t get access to site

◦ Can’t get final contract to finish

◦ Will likely scrap and start over at no cost to Franklin County

Building global database of contacts vs. everything being on one person’s contact list in email and cell phones

Doing a better job of contacting and communicating with area business owners, government officials, etc…

Working on Marketing Packages for:◦ J&J Building

◦ Hotel/Conference Center Opportunity

◦ Shovel-ready site opportunities

◦ Franklin County

Improve EDC PR & Marketing

Continuing to work to strengthen operation Working to put a plan in place with

measurable benchmarks to justify EDC budget support

Better communication of goals and activities to help justify financial support

EDC Budget

Part II: Near-Term Challenges

Changes on EDC Board & Office

Damage control with IEDC and regional groups

General Franklin County Budget Funding

EDC Funding

Continue to develop professional organization and TEAM effort

Dennis Kolb resigned from the EDC Board◦ Hans Beck appointed as a Brookville replacement

◦ Board seats:

Michael Hiles – President

Jim Black – Vice President

Hans Beck - Secretary

Frank Thompson has resigned the Director position as of August 9, 2012

Changes In EDC Board & Office

EDC operation and actions served to alienate regional and state partners:◦ IEDC

◦ Lawrenceburg

◦ Hoosier Energy

◦ Brookville Lake Wastewater District

◦ Town of Brookville

◦ MBC Group

◦ Deufol

Negative impact on future grant and funding opportunities Opportunity exists to improve relationships

Damage Control with IEDC and Regional Groups

Perception of money intended for development and job growth being used for other things

County politics continues to jeopardize entire EDC mission

Lawrenceburg already asking about $500K funds usage, could threaten money

State EDIT tax split not allocated towards Economic Development

General Budget Funding

Key factors continue to negatively impact EDC funding◦ Lack of education about Economic Development need and

benefit

◦ Local politics

◦ Negative perception of EDC from past

◦ Not been a cohesive strategy with benchmarks to measure progress

Need more capital access for existing business and to attract new business

Matching funds for grants and loan programs Proper marketing of EDC and area opportunities

EDC Funding

Part III: Near Term Opportunities

Changes in EDC Board and Office

Build support services for local business to help retain and grow jobs

Help facilitate IEDC state efforts on a local level

Educate and Inform Economic Development 101

Purpose is to retain and grow jobs we already have today Meet and greet local business owners

◦ Local business owners didn’t even know who EDC Director was

Help develop and facilitate Marketing & Public Relations for area business

Facilitate capital and finance opportunities◦ Public

◦ Private

Identifying and Facilitating Grant opportunities Bring stronger SBDC / CDC presence to Franklin County

Build Support Services for Local Business

IEDC already spending tax dollars marketing Indiana as a great place to do business

IEDC already working to generate leads for relocation No need to step on their toes or duplicate redundant efforts Spending thousands of dollars on seminars and workshops yielded

nothing Plenty of local and regional opportunities Provide local TEAM coordination effort, project management,

communication Improve effort to promote local development opportunities with IEDC 60+ acres outside Batesville nearly shovel-ready, IEDC not even

aware Fill J&J building by getting out of IEDC’s way and helping them do

their job

Help Facilitate IEDC Efforts at Local Level

Facilitate basic education effort about need for, and benefits of Economic Development

Improve marketing & PR efforts for EDC mission and services

Participate in local and regional efforts, represent Franklin County interests and opportunities

Looking to hold local workshops with outside educator

Educate & Inform Economic Development 101

Part IV: Making Progress

Immediate Action Items

J&J Plant

Hotel/Conference Center Development

Shovel-ready Site in Batesville

Marketing, Marketing, Marketing

Interim Communications and Operations Plan for EDC MBC Grant – still in limbo, work to resolve USDA RBEG Revolving Loan Fund

◦ Administrative work with USDA

◦ Recruit Loan Board

◦ Have 18 months to complete

Hire EDC Coordinator for support Damage control and relationship repair with IEDC,

Lawrenceburg, and other regional partners No significant relocation activity – Project REAM

dormant per IEDC

Immediate Action Items

Despite Director’s reports IEDC indicated there’s been no activity for 2 months. Financial viability of Project REAM is in doubt

IEDC considers the property the best in Indiana right now Wastewater will continue to be limitation for use of facility Brookville Lake Wastewater District is clear in their capacity

thresholds Change of use would require infrastructure upgrades Funding for upgrades to system could be between $3-5 million USDA funding for infrastructure is a wildcard considering

outstanding issues with Metamora Need to adopt a strong TEAM approach

J&J Plant

Strong opportunities still exist to capture tourism dollars State supports this initiative area for Franklin County Evaluating area several sites Put “horse before the cart” Engaged in serious discussions with regional Broker Dealer

◦ Extremely interested in the project

◦ Develop private placement offering to attract private investment partners

◦ Estimated project package $10 million range

◦ Involve local investors first, then use matching funds to attract outside capital

◦ Use EDC to “prime the pump” – first money in is always the hardest

Evaluate development/management partner options once capital commitment is in play

Hotel / Conference Center Development

Provides I-74 access Need to bring this to forefront of IEDC

attention Develop action plan to turn site into an

official Indiana “Shovel-ready Site” Develop marketing support for IEDC

Shovel-ready Site in Batesville

WEBSITE!!!!!! Direct marketing approach by building

database Educate, inform

Marketing, Marketing, Marketing

ContactMichael Hiles, Presidenthilesfiles@gmail.com