2018-2019 Adopted Budget

ECONOMIC DEVELOPMENT AND BUSINESS SUPPORT

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

PROGRAMS

Actual

Economic Development Planning and Business Support Provides oversight and staffing support of City economic development activities specifically related to business recruitment, business retention and expansion, strategic planning, urban development projects and site readiness, and community partner and small business support services. This budget includes the City’s economic development incentive program expense which supports activities towards the creation of new full-time employment, retention of existing jobs, and growth of the tax base in the City of Greensboro.

780,153

1,120,143

0

0

Appropriation

Full Time Equivalent Positions

4

2

0

0

Division Strategies

 Collaborate with external stakeholders and partner agencies by sharing expertise on business outreach, assistance, and education.  Provide individualized assistance and counseling that connects businesses to the resources needed to start, improve or expand operations.  Collaborate with departments and community partners on economic development and quality of life initiatives.  Partner in efforts to recruit new business/business expansion projects.  Manage requests for utilizing the Economic Development Fund, Bond Fund, and Incentive Program.  Elevate community understanding of City rules and regulations in relation to the creation and operation of a small business.

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

PERFORMANCE MEASURES

Actual

Workload Measures

 Number of requests for business assistance

188

200

na

na

Effectiveness Measures  Dollar value ratio projected investment to be initiated as a result of economic development incentives awarded  Percentage of businesses seeking assistance satisfied with services provided

1:18

1:20

na

na

95%

90%

na

na

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

BUDGET SUMMARY

Actual

Expenditures:

Personnel Costs

259,007 521,146

136,971 983,172

0 0 0

0 0 0

Maintenance & Operations

Capital Outlay

0

0

Total

780,153

1,120,143

0

0

Total FTE Positions

4.000

2.000

0.000

0.000

Revenues:

0 0 0

Other

0

0

0 0

General Fund Contribution

780,153

1,120,143

Total

780,153

1,120,143

0

0

BUDGET HIGHLIGHTS 

In FY 2018-19, Economic Development and Business Support moves to the Planning Department. Refer to the Planning Department page in the Infrastructure Section for FY 2018-19 and FY 2019-20 details.

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