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2019-11-19 Ex Item VI.APresentation for What Is Economic Development? It is a program, group of policies, or set of activities that seeks to improve the economic well-being and quality of life for a community by creating and/or retaining jobs that facilitate growth and provide a stable tax base.* *International Economic Development Council Why Invest In Economic Development? ➢Job Creation ➢Industry Diversification ➢Business Retention & Expansion ➢Keeps Our Youth in the Community ➢Increased Tax Revenue ➢Improved Quality of Life Timeline April 2018 –ECO Revitalized Policom’s 2005 Study May 2018 –BOCC Host Workshop on Economic Development September 2018 –Policom Releases Updated Study October 2018 –By-Laws of OCEDC Written and Adopted November 2018 –Articles of Incorporation Accepted by State November 2018 –Chason Group Contract Signed for Executive Search April 2019 –President Hired Stated Purpose To enhance and cause quality economic growth of the Okeechobee County Economy. Proud of our Roots with an Eye on the Future Who Are We? 501(c) (6) Public / Private Partnership County & City 3 Appointment Board Directors from ECO 1 Appointment from Okeechobee County Chamber IRSC In-Kind Okeechobee County School Board 7 Private Investors Teamwork allows us to reach the heights of excellence and perform the extraordinary! What’s Happened Since Then? Summit Held to Determine Top Objectives for 2019 Opportunity Zone Marketing OCEDC Prepared 2019-2020 Budget Awarded Enterprise Florida Grant Boards/Organizations Worked on 9 Projects High Speed Internet/Fiber Federal Reserve Partnership Top Objective for 2019 Locate Site for a 300 –500 Acre Industrial Complex Research & Determine Funding Source for Industrial Complex Implement Business Retention & Expansion Program Populate GIS Planning Portion of Website Develop & Implement Strategic Plan Opportunity Zone Hosted Madison Street Strategies Met with Potential Investor Attended Training on New Ruling from Department of Treasury Marketing OCEDC Wrote 2 Articles for Treasure Coast Business Magazine Advertised in 2 Magazines LinkedIn Facebook Matrix Video Enterprise Florida Grant Awarded $10,000 Paid for Memberships Into International Economic Development Council Florida Economic Development Council Two IEDC Training Course Advertising in Expansion Solutions Magazine Participation in Organizations Career Source Heartland FHERO Enterprise Florida Florida Economic Development Corporation Okeechobee Community Coalition Chamber of Commerce of Okeechobee County Project Work Existing Industry Expansion Manufacturing Company | Bautech USA 2 -Agribusiness Company Heavy Manufacturing Company Service Industry Tourism Project | Big Cedar Lodge Service & Retail | Kubota High Speed Internet/Fiber Public Private Partnership Federal Reserve Small Business Capital Survey Economic Outlook Luncheon in Q2 of 2020 Activity ( April –November 19, 2019) 83+ Partner Meetings 28 Project Meeting 8 Active Projects 48+ Business Meetings 9 Speaking Engagements What’s Next VisionFirst | Strategic Planning Session Economic Update Luncheon | Spring 2020 Projects, Projects, Projects How to Find Us Indian River State College | Room B141 FaceBook | Okeechobee Economic Development Corporation LinkedIn | Okeechobee Economic Development Corporation MeganSmith@OCEDcorp.com www.OCEDCorp.com 863-357-2314 Question 02 � `Answers