HomeMy WebLinkAboutEconomic Advisory Commission - Minutes - 07/31/2007f`
For Reference:
Approved 10/16/07
Minutes
City of Fort Collins
Economic Advisory Commission
Regular Meeting
281 N College Community Room
July 31, 2007
Christophe Fabvre, Chair
227-0282
Mayor Doug Hutchinson, Council Liaison
416-2154
Mike Freeman, Staff Liaison
416-2253
Erin Gill, Minute taker
221-6505
Commission Members Present
Christophe Febvre (Chair), Blue Hovatter, Sarah Hach, Bill Timpson, Kevin Shaw,
Commission Members Absent:
Jim Clark, Stu McMillan, Beena Bawa, Rick Price
Guests:
David May
NCEDC Staff:
Maury Dobbie, President
Mike Masciola, Vice -President
Eric Berglund, Director of Investor Development
Jacob Castillo, Former Vice -President
City Staff Present:
Mike Freeman
Erin Gill
Agenda Item 1 — Meeting Call to Order
Meeting called to order 9:15 a.m.
Public Comment
Following NCEDC's presentation David May commented that primary employers not
only support secondary businesses but feed the quality of life and values of the
community such as roads, parks, schools ect.
He asked NCEDC the number of investors they currently had and the percentage
retention rates of those investors.
Agenda Item 2 — Approval of Minutes
Approval of minutes July 17 postponed to Aug 28th
Agenda Item 3 — Consideration of future agenda items
After NCEDC's presentation they were going to try and provide the EAC with updated
information with a few more specifics on their work, progress and successes over the
recent past, and their objectives as they relate to the Fort Collins City Council. It was
agreed this will probably happen at an upcoming September (unknown date) EAC
meeting.
Agenda Item 4 - Defining a Fort Collins Healthy Economy
Discussion postponed until next Aug 28'h meeting.
Agenda Item 5 — NCEDC Presentation
Following is a copy of the presentation present by NCEDC to The Economic Advisory
Commission:
Slide 1: Northern Colorado Economic Development Corporation
Presentation to the Fort Collins Economic Development Commission
July 31, 2007
Slide 2: The NCEDC
• The NCEDC is a 501 C (6), Not -for -profit Corporation.
• Over 90% of the NCEDC funding comes from the private sector
• The NCEDC Mission is:
"To sustain and enhance the economic vitality ofNorthern Colorado while maintaining
our environment and quality of life"
• Larimer County
Fort Collins
Loveland
— Windsor
Johnstown
Berthoud
Wellington
Estes Park
Slide 3: Economic Development Functions
The four -legged stool of economic development:
• Create: Entrepreneurship/Incubation
• Attract: Suitable new businesses
• Retain: Keep our existing employers
• Expand: Help existing companies thrive
Slide 4: Primary Employer Defined
Defined as a company that makes their product at their location and ships it
outside the city limits
Key characteristic of a primary employer is that at least 50 percent of revenues
are derived from outside Fort Collins/Larimer County
Can be large companies with many employees or small firms with just two staff
members
It's where the money comes from
Slide 5: How Does A Properly Functioning Economy Work?
Earn: Induced employment Spend:
Buyers of »»Primary »»»> and spending »»»» Outside sellers
Goods and Services Employers Vendors of Goods and
Outside of Area
Supplies Services
Real Estate
Insurance
Retail
Government
Roads
Schools
Parks
Primary (Basic) Employers bring wealth to the community by exporting goods and
services
Slide 6: NCEDC Focus
• Business Retention & Expansion
• Attraction of Primary Employers
• Regional Marketing Plan
• National & International Marketing
• Partnering With CSU/Regional Economist
Coordinating & Brokering Local,& Federal Incentives
Slide 7: Business Retention & Expansion
• Primary Employers Survey
— Gathering business intelligence:
• Sharing results with community leaders
• Resolving business issues
— Creating more business friendly climate
• Survey Results Roll -Out - October 31, 2007
• Strengthening Business Relationships
• Ongoing business visitations
• Assistance with expansion
• Incentive negotiations
• Example: TechniGraphics (TGS)
Agenda Item 7 — Follow-up discussion regarding NCEDC presentation.
NCEDC presented as a reference for EAC to develop a purpose statement in order to
provide a point of reference for Economic Advisory Commission discussions; and in
order to provide the Council a basis of understanding for future commission statements;
the EAC has undertaken to establish a definition of the concept of a healthy and
sustainable economy specific to the EAC and the City of Fort Collins.
NCEDC's discussion with the EAC concentrated on how NCEDC works regionally in
Northern Colorado to build relationships with current employers while attracting new
employers. NCEDC is currently working with site selectors who give them a snapshot of
the entire region including Weld and Larimer County in order to execute regional
marketing giving all communities the same opportunities.
The EAC members decided to individually help develop a Fort Collins Healthy Economy
purpose statement following the meeting and wanted more time to discuss/evaluate
NCEDC's role in Fort Collins at the next meeting Aug 29'h.
Agenda Item 7 — Next meeting times, dates and location
Next meeting is scheduled for Aug 28, 2007 City Hall CIC Room