61 / 156
51
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.
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Appropriation
525,637
1,278,170
1,411,406
1,966,236
Full Time Equivalent Positions
5
4
4
4
Division Strategies
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
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
2016-17
2017-18
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
215,179
423,585
432,391
445,681
Maintenance & Operations
310,458
854,585
979,015
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
75,085
0
0
General Fund Contribution
304,539
1,203,085
1,411,406
1,966,236
Total
525,637
1,278,170
1,411,406
1,966,236
BUDGET SUMMARY
PERFORMANCE MEASURES
ECONOMIC DEVELOPMENT AND BUSINESS SUPPORT
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.
PROGRAMS
Collaborate with external stakeholders and partner agencies by sharing expertise on business outreach, assistance, and education.
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.
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.