updated: 7/19/2012 8:08:04 AM
The Steuben County Economic Development Corp. is setting its goals for the next five years. Executive Director David Koenig and the board of directors are aiming for 1,800 new jobs and $500 million in additional investment before the end of 2017.
July 17, 2012
The following items were discussed at the July 17, 2012 meeting of the Steuben County Economic Development Corporation Board of Directors meeting:
1. With the change in the Corporation’s By-Laws to include memberships, there was discussion as to how best to proceed in contacting prospective members. Membership dues are intended to support SCEDC activities and as matching funds for a three-year $10,000 per year grant from the Olive B. Cole Foundation. The issue was tabled until next meeting.
2. As justification for an investment by members to the SCEDC, it was pointed out that the organization should set some hard and fast goals to shoot for with regard to economic development. At the recommendation of Executive Director David Koenig, the SCEDC set a goal to create or attract 1800 new manufacturing, distribution and information technology jobs, and to spur investments of $500,000,000 between now and December 31, 2017 – a Five Year Goal. Koenig pointed out that the SCEDC cannot achieve this goal rather it will require the entire community working together, pulling in the same direction to reach the Five Year Goal.
3. Announced a series of three meetings planned for the next three months:
-9:00 am, July 27, 2012 at the Carnegie Public Library – Tax Abatement Overview and Processes
-3:30 pm, August 30, 2012 at the Steuben Co Community Bldg, Multipurpose Room – Redevelopment Commissions and Tax Increment Finance
-6:30 pm, September 27, 2012 (TBD) – Workforce Development and Talent Made Here
4. Discussed progress on the trine University – City of Angola Development Agreement
5. Discussed the presentation to the Steuben County Commissioners (July 16th) requesting financial support for activities necessary to apply for Shovel-ready status for four sites in Steuben County. Next meeting is with the Steuben County Council on August 14th.
6. Discussed activities to develop a new website for the SCEDC.
7. Koenig presented information regarding numerous prospect communications and visits that have occurred over the past couple of months.
8. The Board of Directors elected Representative Dick Dodge from Pleasant Lake to serve on the SCEDC Board of Directors. Dodge will fill a seat left vacant by the four school corporations. In May of 2012 the SCEDC elected Craig Ralston to serve as an at-large member of the Board of Directors. Changes in the SCEDC By-Laws will occur with the 2013 Board of Directors. Nine of the 16-member board of directors will be appointed by the county and municipal governments which largely support the Corporation. The remaining seven members will be elected from the membership. Memberships in the SCEDC include:
-Sustaining Members ($3000/year or more)
-Supporting Members ($1000 to $2999/year)
-Small Business Members ($250/year)
-Not-for-Profit members ($250/year)
-Individual members ($250/year)
Job Creation and Private Sector Investment Goals
2013 through 2017
Components of Five Year Goal by Year
2013 through 2017
Year New Jobs New Payroll Real Property Investment Pers. Property Investment Total Investment
2013 250 $8,750,000 $10,000,000 $30,000,000 $40,000,000
2014 300 $10,500,000 $20,000,000 $50,000,000 $70,000,000
2015 350 $13,000,000 $30,000,000 $70,000,000 $100,000,000
2016 400 $15,000,000 $40,000,000 $100,000,000 $140,000,000
2017 500 $20,000,000 $50,000,000 $100,000,000 $150,000,000
TOTAL 1,800 $67,250,000 $150,000,000 $350,000,000 $500,000,000
Reported Job Creation & Investment
2004 through 2011
2004 115 n/a n/a n/a $10,547,047
2005 188 n/a n/a n/a $14,539,450
2006 167 n/a n/a n/a $18,478,035
2007 220 n/a n/a n/a $21,664,463
2008 186 n/a n/a n/a $32,036,367
2009 109 n/a n/a n/a $8,583,463
2010 307 n/a n/a n/a $9,856,641
2011* 221 n/a $0 $14,976,485 $14,976,485
Total 1,513 n/a n/a n/a $130,681,951
* Excludes Family Dollar Distribution Center in DeKalb County ($70,000,000 investment with 350 new jobs). This was a SCEDC project in Ashley, Indiana.
Essentials to realizing this Five Year Goal:
1. Smart use of all available economic development tools (Tax Abatement, Tax Increment Finance, IEDC Tax Credits and Other Programs, SBDC, Major Moves Funding, University Partnerships, etc.);
2. Investing in Shovel-Ready Sites (Preliminary Engineering & Environmental, Purchase Options, Title Search and Commitments, Application Fees, etc.); and
3. Productive partnerships with entities capable of assisting Steuben County realize the Five Year Goal (local, regional, State, federal, universities, community colleges, etc.)
Source: Steuben County Economic Development Corp.