ANNUAL REPORT Fiscal Year 2013-2014 Business Development Board of Martin County 1
BOARD of DIRECTORS From the Executive Director
OFFICERS Jeff Sabin President Dan Carmody Vice President Mark Robitaille Secretary Steve Fenton Treasurer
DIRECTORS Donna Banister Henry Copeland Beth Gaskin Commissioner John Haddox David Kollar Mayor Troy McDonald Commissioner Anne Scott David Powers Odias Smith Maura Barry-Sorenson Len Sucsy
LEGAL COUNSEL Kenneth Norman McCarthy, Summers
Dear BDBMC Stakeholder, I’m pleased to report that 2013-2014 was a very good year for business in Martin County. The Business Development Board (BDB) facilitated many expansion and relocation projects that helped create and retain jobs in Martin County adding over $46 million in new capital investment. The BDB works to leverage the County’s assets by promoting the expansion of existing business and attracting new complementary companies to the County. This economic prosperity supports the quality of life in Martin County by providing high-wage jobs for our residents and stability to the local tax base. In the last four years, the BDB has assisted companies in the creation of nearly 3,000 new jobs with a capital investment of over $100 million. The work of the BDB does not stand alone; it requires a collaboration with Martin County Government, the City of Stuart, the State of Florida, our member partners as well as the local business community. I hope you enjoy learning more about our efforts through this Annual Report and thank you for your continued support and commitment to this organization and Martin County, Florida. Sincerely,
STAFF Tim Dougher Executive Director Jill Marasa Business Development & Finance Manager
Tim Dougher Executive Director
MISSION “The Business Development Board of Martin County is the county’s official mission of the BDBMC is to promote economic prosperity in Martin County and expanding educational and employment opportunities.” 2
SCOPE OF SERVICES BUSINESS RETENTION & EXPANSION BR&E Program, Business Survey, Job Fairs, Industry Roundtables, Trainings and Workshops, Marketing Materials, Industry Awards, Sites & Buildings Database, Local Advertising and Announced Expansion Projects
SMALL BUSINESS OUTREACH MartinConnects Business Outreach Program and Small Business Development Center Partnership
COMMUNITY OUTREACH Research and Demographic Reports, Monthly Newsletter, Quarterly Reporting and Community Outreach Events
ENTERPRISE ZONE Enterprise Zone Incentives, Annual Report, Community Outreach and Fiber/Technology Trade Show
MARKETING and BUSINESS ATTRACTION Announced New Projects, Regional Marketing Initiatives, Marketing Martin County, State and Local Advertising and Economic Development Conferences
INDUSTRIAL DEVELOPMENT AUTHORITY Tax-Exempt Bond Financing Projects and Reporting
STATEMENT economic development organization, and partner of Enterprise Florida, Inc. and Florida’s Research Coast. The by retaining and assisting existing businesses and attracting new businesses, while preserving the quality of life,
3
BUSINESS RETENTION & EXPANSION Our BUSINESS RETENTION & EXPANSION program helps to establish necessary relationships and communication with our existing targeted industry businesses. The BR&E Program works with local businesses to identify business needs and assist such companies in addressing issues. The program embraces a strong customer service focus, ongoing outreach to businesses and broad resources for business recognition.
INDUSTRY ROUNDTABLES Industry Specific Events focusing on Aviation, Marine, Innovation, Entrepreneurship and Export Strategies LEADERSHIP Roundtable Ken Lawson, Secretary Florida Department of Business and Regulation
CEO FIRST Robotics Kick-Off Martin County SPAM Team
Innovate to Thrive Robert F. Brands Author, Speaker and Innovation Coach
Florida’s Research Coast State of the Region Griff Salmon, Executive VP/COO - Enterprise Florida Cam Becraft, Senior VP - Paradigm Precision John Rhodes, Senior Principal - Moran, Stahl & Boyer Dr. Edwin Massey, President - Indian River State College
Targeted Business Roundtable with Jesse Panuccio Executive Director, Department of Economic Opportunity
Partners for a Stronger Florida - Economic Summit Grey Swoope, Secretary of Commerce and President & CEO - Enterprise Florida Jesse Panuccio, Exec. Director - Department of Economic Opportunity Chris Hart, President & CEO - CareerSource Florida Melissa Medley, Chief Marketing Officer & Sr. VP - Enterprise Florida Andrew Corty , President & Publisher - Florida Trend Magazine 4
BR&E PROGRAM Establishing communication and relationships in the business community
Agriculture Aviation & Aerospace Educational Services Green Tech
One-On-One Company Visits:
Headquarters
83
Life Sciences
Contacts:
Marine
488
Professional Services Other Enterprise Zone
BR&E Assistance offered by the BDBMC this Fiscal Year Training Grants
New Business Assistance
Media Exposure
Business Expansion
Tax Exemptions
Expedited Permitting
Workforce Needs
Award Nominations
HUB Zone
Incentives
Financial Resources
Demographics/Research Reports
Transportation & Logistics
Fiber/IT Resources
Use & Zoning Assistance
New Market Strategies
Export Strategies
Event Planning/Meeting Space
Tax Exempt Financing
Internships/Externships
Traffic Calming
Marketing and Public Relations
Sites & Buildings Assistance
LSTAR
Relocation Assistance
Business Signage
Foreign Trade Zone
Enterprise Zone Incentives
Utilities Infrastructure/Incentives
State Licensing
Business Tax Receipts
Agribusiness Water Resources
County/City Permitting 5
BR&E TARGETED BUSINESS SURVEY Identify strengths and weaknesses in the business community to set priorities and help local businesses thrive and grow.
In Fiscal Year 2013-2014, the Business Retention & Expansion Survey identified the following key survey responses:
54.8%
percent of respondents indicate QUALITY OF LIFE as the top reason for locating or keeping their business in Martin County
67%
percent of respondents have LESS THAN 50 EMPLOYEES
50%
percent of respondents indicating a need for MANAGERIAL AND SUPERVISORY TRAINING
83.3%
percent of respondents indicating an interest in TRAINING GRANTS
79.1%
percent of respondents indicating an interest in PARTNERING WITH OUR LOCAL EDUCATION SYSTEM
65.8%
percent of respondents indicating EMPLOYEE GROWTH
47.4%
percent of respondents indicating expansion, modernization or renovation of MANUFACTURING/PRODUCT SPACE
“Without question our move to Martin County was facilitated by the remarkable assistance provided by the BDBMC; a great asset to Martin County.”
- Paul Moore, Founder/CEO PEAKVISION Sports 6
LOCAL ADVERTISING Promotion and marketing of the BDBMC programs and services and promoting Martin County’s business community Number of Ads: 7
STUART Magazine Target Audience High-Visibility Retail & Condo Distribution 4,400 (40%)
TOTAL PRINT CIRCULATION 11,000
Professional Distribution 1,000 (9%)
Newsstands 600 (6%) Luxury Hotel Distribution 800 (7%)
Affluent Mailing 4,200 (38%)
99,000
688,500
756,000
2,700
Annual Circulation
Annual Print Readership
Annual Digital Page Views
Annual iPad Edition Downloads
Progress & Innovation Readership 69,767
311,167
890,739
Treasure Coast Daily Circulation
Treasure Coast Weekly Print and Online
TC Palm Online Visitor Statistics
7
SITES & BUILDINGS DATABASE
TRAININGS & WORKSHOPS
Martincountyprospector.com is Martin County’s premier sites and buildings database. Our innovative website and free online program helps existing Martin County companies expand and attracts new complementary businesses to the community. The website serves to centralize sites, buildings, land and demographic data in one location. The prospector tool allows the user to identify available commercial and industrial property, market characteristics such as community profiles, workforce and consumer spending, business synergies and housing market information. This fiscal year, our prospector tool became a partner of FPL’s PoweringFlorida; a national and internationally recognized sites and buildings database. Our registered property agents receive complimentary data uploads of their property listings to the site. Additionally, users with property in excess of 10,000 square feet or 10 acres receive complimentary automatic property listing uploads to the State of Florida’s web portal for available sites and buildings.
Providing cost effective training and workshops for businesses as identified in the annual Business Retention and Expansion Survey
PRESENTED BY Dr. Jack Mitchell
Registered Agent/Owners
93
Total Property Listings
154
Office
64
Retail
20
Industrial
15
Warehouse
2
Land
53
PRESENTED BY BDBMC, FPL and Martin County Growth Management
Data as of September 30, 2014
8
TRAINING GRANTS In partnership with CareerSource Florida, the BDBMC assists local businesses in obtaining training grants for new and existing employees.
These flagship grant initiatives help
businesses and employees advance skill sets and talent pipeline, while maintaining competitiveness. The BDBMC also partners with CareerSource Research Coast,
Martin
County’s
local
workforce
provider,
to
connect employers with qualified and skilled talent; in addition to assisting jobseekers with employment and career development opportunities.
We utilize the following grant programs to assist employers and jobseekers: Incumbent Worker Training (IWT)
Grant for existing employee training including soft skills, technical and customizable training Quick Response Training (QRT)
Grant for new employees including proprietary and customizable training On-The-Job (OJT) Training
Grant for new employees offsets the employer cost of new employee training \
Employer Worker Training Grants offset employer and employee training costs for attaining nationally recognized credentials
“We are very excited to use this Incumbent Worker Training Grant to improve our team’s skills, qualifications and certifications which will help us serve our global precision manufacturing clients even better. We are grateful to the BDBMC for their help and support in this grant application process and their commitment to expanding the quality of business in Martin County.”
Internships and Externships In partnership with our local higher educational facilities, Indian River State College and Keiser University, the BDBMC assists businesses with internship and externship opportunities. This partnership engages local students and employers in our community, fostering collaborative relationships and building our local talent pipeline.
- Bill Greene, CEO/VP Level 3 Inspection
9
JOB FAIRS Each year in early spring and fall, the BDBMC, . in partnership with various entities, hosts job fairs seeking fresh and new talent for Martin County’s businesses. With the current statistic that 30% of Martin County residents out-commute for employment, job fairs provide a direct connection for employers and jobseekers to embrace and expand employment opportunities for Martin County’s residents and build on the talent pipeline for employers. JOB FAIR STATISTICS
“Thank you very much for the excellent presentation of the job fair. The prospective employers I spoke with were very pleased and the applicants were appreciative of the opportunity.”
- Commissioner Ed Fielding Martin County Board of County Commissioners 10
BUSINESS RECOGNITION/STATEWIDE AND LOCAL AWARDS The BDBMC strives to provide recognition opportunities for local businesses through statewide and local award programs. The BDBMC facilitated 33 company award nominations and Martin County companies excelled in award recognition this year; three “Governor’s Innovators in Business” award recipients; Ecosphere Technologies “Rising Star Award”, SOL Inc. “Innovation/ Entrepreneurship Award” and Seatorque Control Systems “Export Excellence Award” four “Florida Companies to Watch” Award recipients; Lenco Marine, Level 3 Inspection, PAC Seating Sytems and UCT Coatings. one “CAT 5” finalist - Seatorque Control Systems and home to the “South Florida Manufacturer of the Year” Award recipient PAC Seating Systems Additionally, the BDBMC hosted our Annual Business Appreciation Luncheon, recognizing targeted industry businesses who have a major impact in the community adding capital investment and high wage jobs. The award ceremony included the following recognition: BUSINESS EXPANSION OF THE YEAR: Prime Source Accessories EXPORT EXCELLENCE: PAC Seating Systems ENTREPRENEURSHIP: Bausch Enterprises NEW BUSINESS OF THE YEAR: Ocean Master Marine SMALL BUSINESS OF THE YEAR: Peak Vision Sports CHARLENE HOAG AWARD RECIPIENT: Donna Carman, Indiantown Non-Profit Housing, Inc. BUSINESS OF CHARACTER AWARD: Martin Health System
BDBMC Receives the 2014 Gracious Professionalism Award from Martin County SPAM Robotics Team The Business Development Board of Martin County received the 2014 Gracious Professionalism Award from the Martin County SPAM Robotics Team. The SPAM Robotics Team was presented with a Judges Award at the South Florida Regionals for Gracious Professionalism sponsored by Johnson & Johnson. This award celebrates outstanding sportsmanship and continuous gracious professionalism. The team was presented with two trophies for the award; one award is kept in the teams’ display case and the other was presented to the BDBMC. “The BDBMC was a perfect choice for receiving
the trophy from the team because they really epitomize what we try to teach the kids about gracious professionalism,” said Rich Brooks, Board President and Team Leader. “BDBMC gets no direct benefit for all the effort they give us.
But they recognize the
importance of the program and its mission and they use their tools to help us succeed. That’s the same message we share with the students each season,” he said.
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SMALL BUSINESS OUTREACH The BDBMC Small Business Outreach efforts are designed to provide small businesses and entrepreneurs with resources to assist in their business start-up and growth and to help navigate the challenges as a small business owner.
SMALL BUSINESS RESOURCE GUIDE
14%
GRANTS
14% 12.50%
INCENTIVES
10.50%
MARKET INTELLIGENCE 7.60%
LICENSING 5.70%
SIGNAGE SITES & BUILDING ASSISTANCE
4.80%
ENTERPRISE ZONE INCENTIVES
4.80%
BUSINESS TAX RECEIPT
4.80%
START UP FUNDING
3.80%
FINANCIAL RESOURCES
3.80%
SMALL BUSINESS RESOURCES
2.90%
PERMITTING
2.90%
ZONING AND USE
1.90%
EB5 ASSISTANCE
1.90%
WOMEN OWNED BUSINESS RESOURCES
1%
TRAININGS AND WORKSHOPS
1%
NON PROFIT ASSISTANCE
1%
NEW BUSINESS CONCEPT RESOURCES
1%
BDBMC assistance provided to small business owners and entrepreneurs
% OF INQUIRIES
Additionally, the BDBMC provides partial funding for the Small Business Development Center at Indian River State College to provide complimentary support and services to small businesses and entrepreneurs.
SEMINARS AND SERVICES PROVIDED
STUART
Starting a Business
PALM CITY
Disaster Preparedness
JENSEN BEACH
Agricultural Seminar INDIANTOWN
Government Procurement
HOBE SOUND
Exporting Your Product 0
5
10
HOBE INDIANT Hobe Indiantown Sound SOUND OWN Served # of ofBusinesses Businesses Served 1 3
15
JENSEN Jensen Beach BEACH 7
20
PALM Palm City CITY 10
25
30
Stuart STUART
Affordable Care Act & Your Business Women & Minority Business Owners
26
12
The
BDBMC
MartinConnects
Resource Guide
Small
Business
is a one-stop shop with vital
information for new, existing and expanding businesses. The guide is provided to every new business tax receipt holder in Martin County. Additionally, the guide is available in a digital version on our websites.
This publication is a recipient of the 2013 Florida Economic Development Council (FEDC) Marketing Award for First Place in the Business Retention and Expansion Program category.
# of Guides Mailed to Business Tax Receipt Holders
112
109 87
85
86
90
116 98 85 72
67
October
November December
102
January
February
March
April
May
June
July
August
September
13
COMMUNITY OUTREACH WEBSITE ANALYTICS
BUSINESS MATTERS is the
BDBMC’s
nomic
eco-
www.bdbmc.org Community Outreach 9,366 sessions 6,778 users 22,375 page views
development
monthly
community
outreach newsletter. This publication contains the latest news on
programs,
services
and
business
information
local
for residents, business owners and visitors to Martin County. The publication is distributed in digital format through email and social media platforms. This fiscal year, the BDBMC distributed eight monthly publications and one summer edition.
“In the nearly 30 years that we have been in Martin County, we have gone through four expansions and have always relied upon the assistance of the BDB. As the economic development agency for Martin County, the BDB has always been there to assist in our growth, while maintaining the quality of life we enjoy. It is their valuable contribution that gives businesses, like ourselves, the tools we need to create jobs.”
www.yesmartinfl.com Business Retention, Expansion and Attraction 4,405 sessions 3,674 users 7,948 page views www.martincountyprospector.com Sites, Buildings and Demographics 1,172 sessions 809 users 1490 page views www.flvec.com/martin Small Business and Entrepreneur 2001 visitors 3,526 views
COMMUNITY BASED SITES www.itown.yesmartinfl.com www.stuart.yesmartinfl.com www.palmcity.yesmartinfl.com
SOCIAL MEDIA - Greg Vandegrift Vice President
Facebook: 592 likes Twitter: 435 followers
14
The BDBMC administers seven websites and two social media platforms in our efforts to continually inform the local community on our projects, programs, services and resources. With a focus on local business exposure, the BDBMC released fifteen press releases and twenty-eight local company news releases through our websites, social media platforms, and state and local media outlets.
Through community outreach events , the BDBMC seeks to establish meaningful relationships and partnerships with local employers and businesses, community based organizations, academia, governmental organizations and residents. The BDBMC staff attends a variety of community events through sponsorships, volunteerism and resource activities throughout the year. This fiscal year, the BDBMC participated in a vast array of community outreach initiatives including:
United Way White Doves Holiday Event
Treasure Coast Business Summit
40th Annual Stuart Boat Show
Hobe Sound Festival of the Arts
Stuart Sailfish Regatta
Stuart/Martin County Chamber
Council of Chambers/Chamber Event
Indiantown YMCA Art Auction
Martin County School Board Career
Business Expo
Collaboration Focus Group
Academy Showcase
LEADERship Economics Day
Youth LEADERship Economics Day
Treasure Coast Builders Association
Treasure Coast Legislative Delegation
SPAM Robotics FIRST Team 180
SBA Resource Partner Workshop
Enterprise Zone Development Agency meetings
Economic Development
Indiantown/Western Martin County Business Expo
Community Redevelopment Agency Neighborhood Advisory Committee meetings
Indian River Lagoon Roundtable with Senator Joe Negron
Business Roundtables with Representative MaryLynn Magar
Jensen Beach Chamber “Fill the Bucket” welcome program
15
ENTERPRISE ZONE JOB CREATION TAX CREDIT
In
2011,
Martin
County
received
No. of Tax Credit Submissions: 1 No. of employees: 4
an
Enterprise Zone designation to increase
Tax Credit: $12,108*
business development, capital investment
* monthly wage credit base
and job creation in Indiantown. The BDBMC serves as the Enterprise Zone
MACHINERY & EQUIPMENT TAX REFUND
Coordinator for the state, and as staff to the 13 member Enterprise Zone Develop-
No. of Tax Refund Submissions: 2
ment Agency formed by the Martin County
Tax Refund: $19,154
Board of County Commissioners. Since the inception of this designation, the
COMMUNITY OUTREACH Enterprise Zone Incentives
purchase of machinery and equipment
Method: Utility Billing Insert
and tax credits from job creation.
Distribution: 3,000+/- inserts
local
businesses
benefitted
from
in tax
Indiantown refunds
on
have
residential and commercial customers
COMMUNITY OUTREACH New Medical Facility Method: Utility Billing Insert Distribution: 3,000+/- inserts residential and commercial customers
% Attendees Per Industry Sector
DATA CENTER WORLD EXPO
Jeff Meyer, ITS Fiber - Jill Marasa, BDBMC - Jeff Leslie, ITS Fiber
Government
12.9%
Information Systems
12.7%
Other
12.4%
Insurance Health Care Manufacturing &‌ Manufacturing
11.2% 9.9% 9.4%
Financial Services
8.9%
Universities
8.9%
The BDBMC and ITS Fiber, headquartered in Indiantown, joined forces and exhibited at the Data Center World Expo in Orlando. This show is the leading educational conference and expo for Next Generation Data Professionals and the largest global event of its kind. 16
The
BDBMC
oversees
economic
development
efforts
and
execution
of
the
Enterprise Zone Strategic Plan. The BDBMC is responsible for the State of Florida Annual Report of the Enterprise Zone reflecting strategic goals and measurables. Highlights of activity in the Martin County Enterprise Zone located in Indiantown include:
GOAL NUMBER: 1 – ECONOMIC DEVELOPMENT OBJECTIVE: MARKETING THE ENTERPRISE ZONE; ATTRACTING, RETAINING AND EXPANDING TARGETED INDUSTRIES; LEVERAGING INCENTIVES; INCREASING EMPLOYMENT
GOAL NUMBER: 2 – INFRASTRUCTURE IMPROVEMENT OBJECTIVE: AIRPORT DEVELOPMENT; IDENTIFYING KEY ACCESS POINTS; MONAHAN BRIDGE EXPANSION; REHABILITATE AND RETROFIT EXISTING SPACE; IDENTIFY SITE ACCESS TO CSX RAIL
GOAL NUMBER: 3 – COMMUNITY AND WORKFORCE DEVELOPMENT OBJECTIVE: BUILD WORKFORCE QUALIFICATIONS; UTILIZE WIA FUNDING AND TRAINING OPPORTUNITIES; IMPLEMENT THE COMMUNITY REDEVELOPMENT AREA PLAN; ENHANCECOMMUNITY APPEAL
17
MARKETING & BUSINESS ATTRACTION
The BDBMC’s MARKETING AND BUSINESS ATTRACTION efforts extend domestically and internationally. Direct marketing initiatives include site consultant events, professional conferences, marketing missions, trade shows and special events. Our business attraction assistance is focused on companies planning to relocate or expand facilities in Martin County. The BDBMC serves as the single point of contact tor recruitment assistance and provides vital services to these companies. The BDBMC serves as the official economic development organization for Martin County and is a partner with Enterprise Florida and Florida’s Research Coast Economic Development Coalition. This fiscal year, the BDBMC’s marketing and business attraction efforts include one regional marketing initiative, three trade shows, one strategic advertising initiative via national medium and eight economic development conferences.
Project: New Number of Jobs: 26 Capital Investment: $1+ million Industry: Life Science
Project: New Number of Jobs: 5 Capital Investment: n/a Industry: Headquarters
Project: New Number of Jobs: 20 Capital Investment: n/a Industry: Agribusiness
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Number of Announced Projects: 6 Total Capital Investment: $46 million Total Number of Jobs: 200
Project: New Number of Jobs: 65 Capital Investment: $28 million Industry: Life Science
Project: New Number of Jobs: 60 Capital Investment: $12 million Industry: Agribusiness
Project: New Number of Jobs: 24 Capital Investment: $5 million Industry: Marine
JENSEN BEACH, LLC Assisted Living Facility
19
NATIONAL ADVERTISING
Florida Trend magazine was selected as our strategic national advertising initiative this fiscal year. The BDBMC’s two-page profile was highlighted in Florida Trend’s Business Florida issue and featured Martin County CEO’s for our advertising campaign “Board Meetings...Don’t Have To Be Boring”. The ad is a reflection of Martin County’s live, work and play environment targeted to CEO’s and business owners looking to expand, relocate or establish their business operations in our community.
FLORIDA TREND - Target Audience Statistics
250,000
82%
58
$2.3 million
monthly print membership
executives, professionals, managers
average age
average household net worth 20
CONFERENCE & TRADE SHOW ACTIVITY
The BDBMC received the 2013 Silver Award for Excellence in Economic Development from the International Economic Development Council (IEDC). The award was received for our advertising campaign “Board Meetings…Don’t Have To Be Boring” for communities with populations of 25,000 – 200,000.
CONFERENCES AND TRADE SHOWS In our efforts for additional exposure promoting Martin County as a place to do business, the BDBMC attended three industry trade shows and eight conferences. The purpose of attending these specific events is to meet with various site consultants business executives, real estate professionals and ec onomi c devel opment professionals and discuss the advantages of Martin County.
21
REGIONAL MARKETING AGENDA 5th Annual State of the Region Friday, June 20, 2014 In partnership with Florida’s Research Coast Economic Development
Coalition, the BDBMC part-
Welcome Terry Burroughs
nered in a Regional Marketing initiative hosting the
Chairman, Florida Research Coast
5th Annual State of The Region event; “Four Coun-
Economic Development Coalition
ties, One Goal:
Economic Stability”. This event
brought together over 125 governmental and business leaders from within the four county area to share the 2014 outlook for the region. The theme of
Overview of Target Industry Study John Rhodes Senior Principal, Moran Stahl & Boyer
the event was behind every prosperous community
State of Florida Update
is a solid business base creating job opportunities
Griff Salmon
and increasing tax revenues.
Executive Vice President & COO, Enterprise Florida
Our distinguished panel of speakers included Griff Salmon, Executive Vice President and Chief Operating Officer at Enterprise Florida, the State of Florida’s official economic development arm;
Successful Local Business Expansion Story Camron Becraft Senior Vice President, Paradigm Precision
Dr. Edwin
Massey, President of Indian River State College,
Closing Remarks
Camron Becraft, Senior Vice President at Paradigm
Dr. Edwin Massey
Precision and John Rhodes, Senior Principal at
President, Indian River State College
Moran, Stahl & Boyer.
“Martin County’s centralized location is ideal for international manufacturers. Close proximity to major ports and highway allows our shipments to be dispatched quickly.”
- James Crocker, CEO Waterblasting Technologies 22
MARTIN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY The Martin County Industrial Development Authority (MCIDA) was formed by the Martin County Board of County Commissioners in 1981 in accordance with state statute (Chapter 159, Part III). The MCIDA, as a means to support economic development, provides access to tax exempt and taxable bond financing. The MCIDA works with new and existing companies to provide necessary assistance to bring about successful expansion or location for business in Martin County. This is accomplished in partnership with the Business Development Board of Martin County (BDBMC), who serve as the staff to the agency. This fiscal year, the BDBMC facilitated a $17 million tax-exempt bond financing project for Jensen Beach, LLC. through the MCIDA. The project will generate a total capital investment of $28 million and the creation of 65 new, high wage jobs. The BDBMC and MCIDA have facilitated over $150 million in tax-exempt financing in Martin County; past projects include:
Chairman Bill West Vice Chairman Dan Morris Assistant Secretary S. Tucker Johnson Treasurer George Haley Member Lawrence Anderson Secretary Tim Dougher Legal Counsel Larry Crary Crary, Buchanan
Indiantown Cogeneration Plant, Indiantown: $125 million project to establish a coal fired cogeneration plant and a refinance of the plant in 2012.
BOARD MEMBERS
Stuart Web, Stuart:
Bond Counsel Ed Vogel Holland & Knight, LLP
$5 million project to acquire, construct and equip a 47,000 square foot commercial printing facility.
The Pine School, Hobe Sound: $20 million project to renovate existing facilities and purchase land to construct a new state of the art educational facility.
Martin County YMCA, Stuart: $4.25 million project to refinance existing facilities and purchase of existing,, leased space and the acquisition , construction and equipping of a third facility.
23
FINANCIAL SUMMARY
Business Development Board of Martin County STATEMENT OF FINANCIAL POSITION as of September 30, 2014 (unaudited)
ASSETS Current Assets Checking/Savings Current Assets Fixed Assets TOTAL ASSETS
$280,912.05 280,912.05 4,864.14 $285,776.19
LIABILITIES & NET ASSETS Current Liabilities Unrestricted Net Assets TOTAL LIABILITIES & NET ASSETS
2,982.07 282,794.12 $285,776.19
24
STATEMENT OF ACTIVITIES FISCAL YEAR BUDGET VS. ACTUAL as of September 30, 2014 (unaudited)
TOTAL Oct '13 - Sep 14
Budget
Ordinary Income/Expense Income 17,045.00
22,680.00
405,000.00
455,000.00
425.93
0.00
Business Appreciation
4,900.00
30,000.00
Other Income
3,762.40
0.00
Fee For Service
6,980.56
0.00
11,627.00
24,600.00
449,740.89
532,280.00
Computer Software & Support
11,968.98
13,385.00
General Office Expenditures
24,524.30
25,355.00
Membership income Local Government Income Interest Income
In-Kind Contribution/Service Total Income Expense
Forums, Conferences & Functions
6,852.57
7,400.00
Business Appreciation Luncheon
2,212.30
20,650.00
Memberships
3,635.00
3,391.00
Travel & Mileage
4,843.74
6,000.00
90,577.77
86,950.00
979.62
3,400.00
43,306.54
46,662.00
2,151.04
1,950.00
191,731.03
200,800.00
Employee Benefits
22,479.37
29,617.00
Payroll Taxes
14,965.93
19,620.00
100,770.20
66,500.00
333.32
0.00
Programs & Services Enterprise Zone Occupancy Insurance Expense Payroll Expenses
Outside Services Other Expenses In Kind Contribution/Service Total Expense Net Ordinary Income
575.00
600.00
521,906.71
532,280.00
-72,165.82
0.00
25
NOTES:
26
27
“Considering the steady and occasionally frantic pace of business ownership, we, the business community, rely on the BDB to make sure we are informed and aware of the many tools available and at our disposal.�
- Jana Stolper Vice President of Seatorque Control Systems
Business Development Board of Martin County 1002 SE Monterey Commons Blvd., Suite 203 l Stuart, FL 34996 772.221.1380 l info@bdbmc.org www.bdbmc.org l www.yesmartinfl.com 28