City of Sparks Update Mike Kazmierski, President and CEO
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1 City of Sparks Update Mike Kazmierski, President and CEO August 25, 2014
2 What Does EDAWN Do? An Effective Economic Development Program - Attracts - Retains / Expands - Grows Quality Jobs! 2
3 Our Unemployment Rate Improving! % Reduction Since % to 7.3% Unemployed Now 16, State Average 5.15% 5
4 EDAWN s Focus Primary or Base Jobs! Majority Of Customers Outside The Region External Customers Add Wealth To Community 1. Tax Dollars & Wages Of Employees 2. Investments Of Building / Equipment 3. Generates Additional Jobs - Multiplier Effect 4. Replaces Lost Jobs & Provides Opportunity 5. Quality Jobs ($20.00 Per Hr + Benefits) 6. 90% + Of Jobs Filled By Existing Residents 4
5 Three Legs Of Economic Development Attraction Entrepreneurial / Start Up Growth Retention / Expansion 5
6 FY Relocated Companies Company 5Y Jobs Avg. Wage Industry State 1. Swank (Randa) Distribution MA 2. Lincoln Cutting Manufacturing OH X 3. Alfa Aesar Distribution MA 4. Tropical Foods Manufacturing FL 5. South/Win Manufacturing NC 6. Garlock Printing Manufacturing MA 7. One World Science Manufacturing CA X 8. Innovative Drive Service CA X 9. Havelock Wool Manufacturing NEWZ X 10. Chesapeake Spice Manufacturing MD H Q
7 FY Relocated Companies 5Y Avg Company Relocated Companies Industry Jobs Wage State 11. San Mar Distribution NV 12. Real Spirit Manufacturing CA 13. Weaver Popcorn Manufacturing IN 14. Amerijet Service FL 15. Beaverfit Manufacturing UK X 16. Ind.Salon Services Distribution CA 17. Flirtey Manufacturing AUS X H Q
8 FY Expansion Companies Company Jobs Avg. Wage Industry 1. Intellisource Staffing 2. Cashman Manufacturing 3. VEKA Manufacturing 4. Video Gaming Tech Software Development 5. Pacific Cheese Manufacturing 6. Kings Valley Clay Manufacturing 7. SK Food Group Distribution 8. Eco Windows Distribution 9. zulily Distribution 10. Custom Ink E-Commerce 11. Bline Cooper Manufacturing 12. Gensano Biotech 13. Adv Ref Concepts Manufacturing 14. James Hardie Manufacturing
9 Relocated & Expansion Companies City of Sparks Company 5Y Jobs Avg. Wage Industry State Alfa Aesar Distribution MA Tropical Foods Manufacturing FL Garlock Printing Manufacturing MA Cashman Manufacturing EXP Eco Windows Distribution EXP H Q
10 EDAWN Assisted New Jobs FY (5 Year Numbers Based On Company Estimate) 3,500 3, Final 2,500 2,500 2,000 1,500 5 Year Average 840* 1, * est. based on 1 year numbers * Estimate Based On One Year Numbers 10
11 Prospects Visits Per Month Avg Avg Avg Avg 4.2 0
12 EDAWN's Plan Retention / Expansion Initiate An Aggressive Visitation Program Work To Solve Existing Industry Problems Advocate To Improve Business Climate Facilitate Business-to-Business Interaction Drive Sector And Cluster Advancement Transition And Support New Companies Identify Attraction Opportunities 12
13 EDAWN's Retention / Expansion This Important! Kimmie Candy 1,597 New Jobs From The Expansion Of Existing Companies Our High Growth Companies Are Being Courted Relationships With Existing Industry Provides Opportunities For Attraction 13
14 Components to BR&E Program Connect with resources and each other Grow Jobs/Revenue/Visibility Fix problems/eliminate roadblocks Retain/Recognize Support Think Local
15 Examples of Issues Addressed Government Friction - State/Local Workforce - Senior Positions/Technology/Niche Workforce - Retention At Low End Lack Of Community Connections Utilities - Timeliness Real Estate Funding
16 EDAWN's Goals Entrepreneurial Job Creation Work With Partners To Develop And Implement An Entrepreneurial Continuum Assist Partners To Increase Capital Available To Entrepreneurs - $10M Goal Support Partners In Attracting And Retaining Skilled Entrepreneurial Talent Foster Regional Incubation Of Start-Ups Promote Research, Development & Commercialization Efforts At UNR / DRI 16
17 Entrepreneurial Development Strategy Communicate: Highlight Reno s Strengths As A Place For Entrepreneurs With A Life Catalyze: Engage Entrepreneurs To Lead Programs & Community Initiatives Connect: Facilitate The Connection Between Organizations, Entrepreneurs And Resources (Funding, Mentorship, Customers) Showcase: Highlight Our Startups & Entrepreneurs To Bring Visibility, Encouragement & Community Support
18 Why Entrepreneurial Development? Net Job Growth From Startups In First Year Kauffman Report
19 Entrepreneurial Ecosystem Inspire TEDX Ignite Reno MakerFaire The Generator Startup Digest Enevada Learn 1 Million Cups ehours Meetups Rainforest Networking Create Startup Weekend Pitch Practice Entrepreneur Assembly House of Genius Sontag Business Competition Startup GirlMade Accelerator City of Reno Accelerator Reno Collective Startup Row Legal Entity EIN Number Scale Summit Venture Mentoring Battle Born Venture Fund Angel Groups Entrepreneur Organization
20 How We Stack-Up! New In The Past 2 Years Nationally: Nevada Doubled Its Entrepreneurial Activity Rate Reno 1st For Highest Startup Density Mid- Sized City One Of Best Cities For Mid-Career Professionals Startup Weekend 1 Million Cups House of Genius TEDx Maker Faire Girlmade Entrepreneurs Organization(EO) Hackathon s Sontag * Statistics: Kauffman Foundation and Richard Florida
21 The Future of Reno Facilitating Mentorship New Funding Opportunities For Startups Like Events That Encourage Cross-Collaboration Startup Activity Downtown - Start Up Row!
22 Biggest Little Startup Community Reno The Place For Entrepreneurs With A Life! 22
23 EDAWN Product Improvement Working With Partners To Establish A Place For Entrepreneurs Downtown Promoting A Vision For Our Community As A College Town Embracing UNR As The Economic Engine Of Our Future Economy Encourage More Marketing Of Our Local Businesses, To Show We Have More Than Gaming (Only 8%) Develop A Business And Quality Of Life Message For Our Community
24 Diversified Business Marketing Campaign
25 EDAWN Funding Sources 3,000,000 2,500,000 2,000,000 Private Spt Local Gov Funds State Funding 1,500,000 1,000, ,
26 EDAWN s Return On Investment Five Year ROI: 300 to 1 $1 Economic Development Investment = $300 In The Northern Nevada Economy ($10 M In EDAWN s 5 year Budget = $3B In Economic Impact) 26
27 Regional Public / Private Partners City of Reno UNR State Offices City of Sparks TMCC Nevada JobConnect City of Fernley DRI Nevadaworks Washoe County The Chamber NNDA Storey County C4Cube NV Energy Washoe County School District NCET Reno-Tahoe Airport Authority GOED NIREC Renegades DETR RSCVA Many Others! 27
28 Are We Ready For Tesla? Many Positives! But Some Concerns: Workforce Housing Construction Workers Traffic Other Suppliers And Providers Speed of Government
29 Special Thanks To The City of Sparks Council and Staff 29
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