FY 14-15 Adopted Budget

ECONOMIC DEVELOPMENT AND BUSINESS SUPPORT

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

PROGRAMS

Actual

Economic Development Provides assistance to businesses seeking to expand or relocate in Greensboro; serves as City representative/liaison in the local, regional, and state economic development organizations; monitors and provides local business condition information. This budget represents the City's economic development incentive program expense.

Appropriation

841,207

1,028,353

758,583

782,917

Full Time Equivalent Positions

1

1

1

1

Business Support Provides planning and operations support to startups and existing small businesses located in Greensboro. Activities include business consultations and referrals to community small business resources, assistance in securing City required licenses and permits, education and counsel on compliance with local ordinances and procedures for doing business with the City, communication of relevant opportunities and events, and serves as a staff liaison between small businesses and City departments.

Appropriation

357,743

325,641

370,538

380,142

Full Time Equivalent Positions

3

3

4

4

Division Strategies

 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, Economic Development Bond Fund, and incentive requests.  Elevate community understanding of City rules and regulations in relation to the creation and operation of a small business.  Provide individualized assistance that connects businesses to the resources and information needed to start, improve or expand.

 Increase collaboration between City departments to improve the climate for small business success in the city.

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

PERFORMANCE MEASURES

Actual

Workload Measures  Number of requests for business assistance completed  Number of face to face business consultations completed  Total number of FTE jobs created or retained county-wide as a result of economic development incentive funding provided Efficiency Measures  Percentage of small business assistance requests responded to within 1 business day  Number of weeks to respond to economic incentive requests Effectiveness Measures  Dollar value ratio of non-City investment initiated as a result of economic development incentives funded  Percentage of businesses seeking assistance satisfied with services provided

--

300

300

300

--

100

100

100

--

200

200

300

95%

95%

95%

--

2

2

2

--

--

1:30

1:30

--

--

90%

90%

2012-13

2013-14

2014-15

2015-16

BUDGET SUMMARY

Actual

Budget

Adopted

Projected

Expenditures:

Personnel Costs

321,280 877,670

373,454 980,540

407,178 721,943

421,520 741,539

Maintenance & Operations

Capital Outlay

0

0

0

0

Total

1,198,950

1,353,994

1,129,121

1,163,059

Total FTE Positions

4.000

4.000

5.000

5.000

Revenues: Other

226,780 972,170

218,715

218,715 910,406

218,715 944,344

General Fund Contribution

1,135,279

Total

1,198,950

1,353,994

1,129,121

1,163,059

BUDGET HIGHLIGHTS  The FY 14-15 Adopted Budget is decreasing by $224,873, or 16.6%.  The decrease is largely due to the cyclical timing of Economic Development Incentive reimbursements.  EDBS gains a full-time administrative position due to a position transfer from the Executive Department .

Adopted FY 2014-15 Budget

50