Tompkins County Development Corporation

401 E. MLK Jr. Street, Suite 402B, Ithaca, New York 14850 • phone: (607) 273-0005 • fax: (607) 273-8964

Administration provided by TCAD

TOMPKINS COUNTY DEVELOPMENT CORPORATION BOARD OF DIRECTORS MEETING

• Thursday, December 8, 2016 •

4:00 PM

Governor Daniel D. Tompkins Building Legislative Chambers

121 E. Court Street Ithaca NY 14850

AGENDA

1. CALL TO ORDER 2. PRIVILEGE OF THE FLOOR 3. BUSINESS

• 2017 Final Budget Approval • TCAD Work Plan Review

4. STAFF REPORT 5. APPROVAL OF MEETING MINUTES – October 13, 2016 6. ADJOURNMENT

Tompkins County Development Corporation2017 DRAFT Budget (approved 10/8/16)

Projected Starting Balance 236,646$

IncomeFees 113,540$ Interest 200$

Total 113,740$

ExpensesAdministration -$ Attorney Fees -$ Other fees paid -$

Audit -$ Total -$

350,386$

Tompkins County Development Corporation2017 DRAFT Budget (12/8/16)

Projected Starting Balance 258,541$

IncomeFees 87,540$ Interest 200$

Total 87,740$

ExpensesAdministration -$ Attorney Fees -$ Manu. Training Study (carryover) 8,360$ Other fees paid -$

Audit -$ Total 8,360$

337,921$

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TCAD  2017  WORK  PLAN    

Mission:  TCAD  is  dedicated  to  building  a  thriving  and  sustainable  economy  that  improves  the  quality  of  life  in  Tompkins  County  by  fostering  the  growth  of  business  and  employment.  

Vision:  A  flourishing  economy  with  exciting,  innovative  firms  that  inspire  and  attract  a  talented  workforce.    

• Build strategic, as opposed to transactional, relationships with our board, investors, customers, and external resources.

• Be forward-looking in developing our services, assets and resources.

• Ensure all activities are mission driven, developing: a wide range of quality employment opportunities for local residents; skilled workforce and entrepreneurs; business and property investment; and a high functioning ecosystem for business sectors.

• Target resources to support local businesses and entrepreneurs that have strategic reasons to be located here and are committed to the local community.

• Calculate and track impact of activities to guide decisions on utilization of scarce resources.

• Provide leadership on the key issues impacting the economy of the County, region and State.

Organizational  Strategies  

Core Activities Direct Services to Businesses Provide information and technical, financial and site location assistance that supports the creation, retention, expansion and attraction of businesses in Tompkins County. TCAD’s focus is on wealth-creating, traded sectors including: Education, Manufacturing & High Tech, Visitors & Tourists, Utilities, Agriculture, and Mining. Economic Development Leadership to the County Provide leadership for the County’s economic development activities, including long-term strategies and responses to near-term challenges and opportunities. Foster the leadership relationships and stakeholder engagement necessary to successfully implement local and regional economic development initiatives. Marketing, Communications & Development TCAD: Communicate our objectives and accomplishments to our investors, the businesses we provide services to and the community in general. Ensure long-term and diverse funding of TCAD. Local Economy: Participate in creating an environment in Tompkins County and New York State that supports economic growth. Promote Tompkins County as a good place to live and do business.

General Administrative Functions Maintain economic and business information resources to increase accountability and well-informed policy decisions. Provide office and program administration, and facilitate staff development. TCAD Foundation Administer the TCAD Foundation. TCAD  2017  Work  Plan  |  

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Direct Services to Businesses Summary Metrics 2015 2016 Projects: 19 16

TCIDA/TCDC 9 5 Loans 4 2 Tourism Grants 6 6

Projected job creation (FTE): 206 98 Projected avg. hourly wage: $19.47 $22.22 New investment: $170M $66.9M Refinance: $43.9M $0M Key customer meetings: 90 81 Stakeholder participation: 413 289 Economic Development Leadership for the County Marketing, Communications and Development of TCAD and the Local Economy

2

TCAD Foundation

2016  Highlights  of  Top  Activities  &  Accomplishment  

Contents  

2016 Highlights of Top Activities & Accomplishments ................................................... 2

Direct Services to Businesses .............................................................................................. 3

Economic Leadership for the County ................................................................................ 4

Marketing, Communications & Development .................................................................. 5

General Administrative Functions ..................................................................................... 6

TCAD Foundation ............................................................................................................... 7

TCAD  2017  Work  Plan  |  

See  the  2016  Activities  and  Accomplishments  Report  for  More  Details.  

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Direct  Services  to  Businesses    Core Activities

• Administer five local programs:

o Tompkins County Industrial Development Agency

o Tompkins County Development Corporation

o Revolving Loan Fund Program (TCAD, Minority and Women’s, Countywide, USDA, Sustainable Business, and Town of Dryden)

o Empire Zones Program

o Tourism Capital Grants Program

• Connect businesses with appropriate incentives, services and technical assistance offered by other local, regional, State and federal programs with a particular focus on the State’s CFA and URI funding.

• Provide financial assistance to businesses.

• Interpret and promote new regional, State and federal economic development programs.

• Undertake annual business retention and expansion (BR&E) visits with customers to establish and maintain strategic relationships and deliver targeted services.

• Collaborate with Tompkins County Workforce Development Board to assist businesses in meeting workforce goals.

• Work with the Center for Regional Economic Advancement and other Cornell programs to assist technology-related businesses to start, grow and stay in Tompkins County.

• Provide site location assistance to key projects.

Featured Activities

• Explore sources to recapitalize funds available for lending through the Revolving Loan Fund.

• Support the proposed Business Energy Navigator Program with financial support and networking with key customers.

 

TCAD  2017  Work  Plan  |  

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Economic  Development  Leadership  for  the  County    

Core Activities • Provide thought and process leadership for the County’s economic development activities, including

long-term strategies and responses to near-term challenges and opportunities.

• Foster the leadership relationships and stakeholder engagement necessary to successfully implement local and regional economic development initiatives.

• Convey needs of customers to local, regional, State, and federal policy makers to refine existing economic development programs and to create new ones.

• Work with key community stakeholders to advance economic development policy goals at the local, State and federal level.

• Maintain partnerships with key organizations such as the Chamber of Commerce, Cornell University, Ithaca College, TC3 and other TCAD partners to develop policies and support activities that achieve TCAD’s economic development objectives.

• Provide leadership to the Economic Development Collaborative for implementation of the Tompkins County Economic Development Strategy.

• Collaborate with the Workforce Development Board to improve the workforce pipeline that is critical to economic success.

• Act as the County’s economic information resource. Prepare labor, business sector and other economic data analysis. Keep stakeholders and the public informed.

• Work to sustain and improve airport service with the Air Service Board.

• Collaborate with the County on addressing long-term and immediate energy needs and emissions goals in ways that contribute to a vital local economy.

Featured Activities

• Promote the Economic Development Strategy to the community, especially to municipal and business leaders.

• Support with the Workforce Development Board’s efforts to establish a training program for entry-level employees in the advanced manufacturing sector.

• Collaborate with key stakeholders to implement the recommendations of the Energy and Economic Development Task Force, including working with the County’s Planning Department, Avangrid and the Public Service Commission.

• Explore the feasibility of a business attraction program based on the community’s unique research and development capabilities.

• Recognizing the importance of housing to the economy, collaborate with public, private, and non-profit efforts to increase housing stock, especially affordable to the workforce.

TCAD  2017  Work  Plan  |  

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Marketing,  Communications  &  Development    

Core Activities • Ensure long-term and diverse funding of TCAD.

• Hold periodic Investor’s Council meetings to engage TCAD investors.

• Promote the Industrial Development Agency, Tompkins County Development Corporation, Revolving Loan Funds and other incentive programs.

• Execute TCAD’s marketing strategy to increase public awareness and investment. Communicate our objectives and accomplishments to our investors, the businesses we serve and the community in general.

o Plan and implement TCAD’s Annual Report to the Community.

o Market and promote TCAD through the Annual Report, TCAD Newsflash, and signage for project sites, editorials, advertisements, media relations and community sponsorships.

o Continue to update, develop, and promote www.tcad.org as the organization’s public interface, ensuring that the site reflects TCAD’s activities and accomplishments.

o Increase TCAD’s presence by speaking to community groups and organizations to create a greater understanding of the work we do.

• Participate in creating an environment in Tompkins County, the region and New York State that is supportive of economic growth. Promote Tompkins County as a good place to live and do business.

Featured Activities

• Hire consultant to lead the 2019 – 2023 Investment Campaign, starting with a feasibility study.

• Begin discussions with County Legislature leadership on next 5-year contract.

• Implement recommendations from the Communications and Marketing Strategy developed in 2016.

• Refine the TCAD web site, focusing on content reorganization while maintaining existing style.

TCAD  2017  Work  Plan  |  

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General  Administrative  Functions    

Core Activities • Provide overall office and program administration including finance and budget as well as human

resources support.

• Administer ED programs, grants, and contracts, specifically: revolving loan funds, Industrial Development Agency, Tompkins County Development Corporation, TCAD Foundation.

• Provide fiscal management of TCAD’s operations.

• Facilitate staff development.

• Perform a Board Self Evaluation on an annual basis.

• Continue to enhance Board engagement.

• Create the annual work plan. Track progress on work plan goals, and at year-end compare accomplishments to goals.

• Monitor the Public Authority Accountability Act/Public Authority Reform Act as it pertains to compliance for the TCIDA and TCDC.

• Periodically review/renew TCAD’s organizational mission, strategy, values, and goals.

Featured Activities

• Review and update TCAD’s 5-Year Strategic Plan with assistance from an external consultant if necessary.

• Establish and implement process to hire successor to current TCAD President (expected retirement in 3rd quarter 2018).

TCAD  2017  Work  Plan  |  

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TCAD  Foundation  –  Finger  Lakes  Regional  Prosperity  Network  

Core Activities • Provide a regional umbrella to catalyze, plan, and seek new funding resources for regional partnerships

in four impact areas:

o Rural Wealth Creation

o Workforce Development

o Entrepreneurship

o Energy

Featured Activities

• Implement recommendations from the Food Business Incubation Program feasibility study.

• Expand Foundation Board with representatives from the region.

• Develop and begin to implement long-term business plan that includes a fund raising strategy.

• Develop strategic partnerships across the region that are aligned with the Foundation’s core activities.

TCAD  2017  Work  Plan  |  

Tompkins  County  Development  Corporation  Board  of  Directors  Meeting  DRAFT  Minutes  

October  13,  2016  Tompkins  County  Legislative  Offices  

121  E.  Court  Street,  Ithaca,  NY   Present: Jim Dennis, Rich John, Grace Chiang, Jennifer Tavares, Will

Burbank, Martha Robertson, Svante Myrick Staff Present: Heather McDaniel, Ina Arthur (recording) Guests Present: Shawn Wilczynski (Cargill Inc.), Mike Sigler (TC Legislature),

Philly DeSarno, Nels Bohn (City of Ithaca), Rick Snyder (TC Finance), John Dennis, Deborah Dawson, Krys Cail

CALL  TO  ORDER        Jim  Dennis  called  the  meeting  of  the  Tompkins  County  Development  Corporation  to  order  at  4:05  PM      PRIVILEGE  OF  THE  FLOOR    None.    ADDENDUM  TO  AGENDA    None.    BUSINESS    3Q  2016  Financial  Update    Ms.  McDaniel  reported  on  the  3Q  2016  financials.    Ms.  Robertson  had  a  question  as  to  the  income  amount  –it  looks  low.    Ms.  McDaniel  commented  that  fees  from  issuance  of  bonds  to  William  George  Agency  and  Kendal  at  Ithaca  are  yet  to  be  received.    2017  Preliminary  Budget  Approval    Jim  Dennis  moved  to  approve  the  2017  Preliminary  Budget  for  the  Tompkins  County  Development  Corporation.    The  motion  was  approved  7-­‐0.      

STAFF  REPORT    None.    MINUTES    Will  Burbank  moved  to  approve  the  TCDC  Board  Minutes  from  the  July  14,  2016  Meeting.  Jennifer  Tavares  seconded  the  motion.  The  motion  was  approved  7-­‐0.    Mr.  Dennis  closed  the  meeting  of  the  TCDC  at  4:10  pm.