Adopted Budget Projected Budget 2016-2017
ECONOMIC DEVELOPMENT AND BUSINESS SUPPORT
2014-15
2015-16 Budget
2016-17 Adopted
2017-18 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.
525,637
1,278,170
1,411,406
1,966,236
Appropriation
Full Time Equivalent Positions
5
4
4
4
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.
2014-15
2015-16 Budget
2016-17 Adopted
2017-18 Projected
PERFORMANCE MEASURES
Actual
Workload Measures Number of requests for business assistance completed
220
300
360
400
Effectiveness Measures
Dollar value ratio of non-City investment initiated as a result of economic development incentives funded
1:26
1:30
1:30
1:30
Percentage of businesses seeking assistance satisfied with services provided
100%
90%
90%
95%
2014-15
2015-16 Budget
2016-17 Adopted
2017-18 Projected
BUDGET SUMMARY
Actual
Expenditures:
Personnel Costs
215,179 310,458
423,585 854,585
432,391 979,015
445,681
Maintenance & Operations
1,520,555
Capital Outlay
0
0
0
0
Total
525,637
1,278,170
1,411,406
1,966,236
Total FTE Positions
5.000
4.000
4.000
4.000
Revenues: Other
221,098 304,539
75,085
0
0
General Fund Contribution
1,203,085
1,411,406
1,966,236
Total
525,637
1,278,170
1,411,406
1,966,236
BUDGET HIGHLIGHTS The FY 16-17 Adopted Budget is increasing by $133,236, or 10.4%. The FY 16-17 Adopted Budget includes performance based incentive payments to Procter & Gamble, Honda Aircraft Company, and Coilplus for existing industry expansion projects that supported the creation of 552 new jobs and new capital investment of $321,620,692.
51
Made with FlippingBook