1. Growing Business Locally

2. Prosperity 2021

3. Growing Business Locally  Business Assistance Center  Implementing Growth Strategy  1 st Quarter Report  Increase City Spending Locally  Increase Spending Locally

4. Free Powerpoint Templates Page 4 Implementing an Economic Growth Strategy Current Business Climate 11 Recessions since the end of WWII Marco Terrones from the IMF says that recessions last longer and take longer to recover from if they are linked to a financial crisis or are globally synchronized The recessions beginning in 1990, 2001, and 2008 are tied to financial troubles and our supply chain is global Recoveries (employment gains) have been slowed by technology advances in private industries. Worker productivity in the US has risen e each year since 1955

5. Free Powerpoint Templates Page 5 Implementing an Economic Growth Strategy Current Business Climate Non farm wages adjusted for inflation (1982 standard dollars) have declined since 1955 The global economy influences wages and product costs Corporate profits hit record highs in 2010 Uncertainty in the regulatory environment, tax policy, and the healthcare law are affecting employment levels Debt to GDP ratio impacting consumer confidence

6. Free Powerpoint Templates Page 6 Implementing an Economic Growth Strategy Interesting Facts $50B – amount of money communities and states spend yearly recruiting businesses “A study of Michigan job growth found that relocating companies –in and out of state – created a net job loss in both expansion and recession decades. Start-up companies created a net job gain during the expansion but a loss during a recession. Only existing businesses created a net gain in jobs over the two decades. “Studies show that communities can create new job opportunities for an average $200 investment for each new job created, while recruiting companies from other areas costs an average $20,000 per employee.” Source: http://viodi.com/2011/04/11/economic-gardening/

7. Free Powerpoint Templates Page 7 Implementing an Economic Growth Strategy Coordinating the Pieces All resources of the BAC have more similarities than differences Working independently, our new and existing business customers do not benefit from the collective talent within Flagler County Our customer base has diverse needs and no single organization can effectively meet customer expectations Although the resource organizations of the BAC are independent of each other, when it comes to helping customers grow profitably, we can leave our “independent brands” aside.

8. Free Powerpoint Templates Page 8 Implementing an Economic Growth Strategy Our Collective Role Flagler County Chamber of Commerce - ADVOCACY Center for Business Excellence – WORKFORCE DEVELOPMENT UCF and Daytona State - TRAINING DEVELOPMENT Local Government – Legislative & Regulatory Business Interaction –Future Recruitment Partner – Open –SBDC at UCF, SCORE – Business Development

9. Free Powerpoint Templates Page 9 Implementing an Economic Growth Strategy Focus on the Customer CUSTOMER SEGMENTATION RECRUITMENT Targeted Industries MICRO 2 years or less Start-up EXISTING 2 to 5 years Sales <$500,000 EXISTING, MATURE Employees <5 Revenues $500,000 to $1MM EXISTING, GROWTH Business > 3 years Revenues $500,000 to $10MM 5 or more employees

10. Free Powerpoint Templates Page 10 Implementing an Economic Growth Strategy Measurement Criteria »Return on Investment »Incremental increase in sales and/or profits »Labor $$ saved or added »Capital acquired (incremental sales and profits)+(labor $$ saved or added)+(capital acquired) ROI= $$ Invested

11. Free Powerpoint Templates Page 11 Implementing an Economic Growth Strategy Measurement Criteria »Return on Investment »Number of jobs saved or added $$ Invested Cost Per Job = Number of Jobs Saved or Added »National Average for Communities is $200 invested per job created »http://www.secondstagebusinessdevelopment.com/impact_on_local_business.asp

12. Free Powerpoint Templates Page 12 Implementing an Economic Growth Strategy Current Status Recruitment Discussions <60 days<180 days>180 days Retail Manufacturing Medical Other Customers by Business Type MicroExistingMatureGrowth 2 Years or Less 2 to 5 Years Sales <$500,000 $500,000 <$!MM >3 Years >5 Employees Sales>$500,000 <$10MM 23712 Customers By Location Bunnell Flagler Beach Palm Coast Total County 432633 Capital Acquired by Business Type MicroExistingMatureGrowth $20000 Revenue Increases by Business Type MicroExisting Mature Growth JobsSaved OrAdded SavedAdded $$$Tng $$$ Retail 1$40,000 Manufacturing Medical Other 73$412,600

13. Increasing City Spending Locally  New Purchasing Forms and Procedures  Continued Staff Education and Reinforcement of Local First Culture  Review of City Purchases  Education for Local Businesses  How to Do Business with City?  Identify Opportunities for Businesses

14. Increasing Spending Locally  Encourage Government Agencies & Businesses to Review Expenditures  Identify Opportunities for Local Businesses  “BAC to Business” – Flagler County Business Assistance Expo  Privately Funded Expo  Showcases Local Businesses and Products  Informative Sessions and Speakers  How to Do Business with Government Session

15. Growing Business Locally