2024 Annual Report

2023 - 2024 ANNUAL REPORT edcsarasotacounty.com info@edcsarasotacounty.com

941.309.1200 301 N Cattlemen Rd. Ste. 203 Sarasota, FL 34232

TABLE OF CONTENTS A Letter from the President & CEO A Letter from the Board Chair

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FY 2024 Board of Directors

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Strategic Plan + Mission & Vision

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FY 2024 Timeline 8 - 10 Target Industries 11 Business Park Initiative

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Business Development Highlights 14 Investor Engagement 15 Interlocal Partners + Chair Advisors

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List of EDC Investors 17 - 18

A Letter from EDC President & CEO I’m thrilled to share with you our Fiscal Year 2024 Annual Report.

This year was extra meaningful because it was our 20th anniversary year. On May 5, 2004, the first meeting of the EDC was held. Fast forward twenty years, the EDC is the strongest the organization has ever been.

We built a phenomenal team that will undoubtedly continue to drive our EDC into a future of innovation and leadership. At the beginning of last year, we welcomed several new team members: - Nico Marchitello, Economic Development Specialist - Kaylea Schule, Marketing Specialist - Lisa Palano, Office Coordinator They joined our exceptional teammates:

Erin Silk, CEcD PRESIDENT & CEO

- Joshua Ewen, CEcD, Vice President, Economic Development - Anna Eger, Community Engagement & Event Specialist - Mary Bamer, Board Liaison & Assistant to the President & CEO This year, Joshua Ewen, Vice President, Economic Development earned his Certified Economic Developer (CEcD) designation. As the most prestigious credential in the field, less than 2,000 individuals in the world are certified. Our EDC now has two members of its team that hold their CEcD. As all good business leaders know, change is inevitable, and it must be embraced. This year our EDC faced change head-on with optimism and a sense of opportunity that will drive our EDC into a more impactful organization. As we enter our 21st year, there is an economic transformation underway, too.

Sarasota County is quickly becoming a key economic center within the Tampa Bay region. With a population of 4.3 million and a GDP of $234.1 billion, the Tampa Bay region offers a solid foundation for economic growth. We are leveraging the region’s strong international business brand to connect with companies seeking opportunities for expansion.

Sincerely,

Erin Silk, CEcD 3

A Letter from EDC Board Chair I would like to express my heartfelt gratitude to my fellow EDC Board Members, EDC Investors, community partners, and our valued clients.

Serving as Board Chair for the EDC of Sarasota County this past year has been an exhilarating and fulfilling experience.

Our journey over the past year has been characterized by numerous accomplishments and occasional challenges, but with the unwavering support of the business community, we have effectively navigated through them. The unparalleled strength of our EDC team, the most robust in our history, instills in me a profound sense of confidence. Erin’s steadfast leadership continues to set the standard, and the Board of Directors takes immense pride in supporting our EDC mission to drive economic diversification and sustainability in Sarasota County.

Devaney Iglesias

2024 & 2025 BOARD CHAIR

One of the major highlights of the year was the successful completion of our new strategic plan. This eight-month process was truly a collective and thoughtful community effort. I am incredibly proud of our plan, as it sets a clear path for our next three years.

My sincere thanks to everyone who contributed to the Strategic Planning Task Force.

As I am preparing to continue serving as Board Chair in the coming year, an honor and responsibility I do not take lightly, I look forward to again collaborating with the 2025 Board of Directors, the dedicated EDC team, and the vibrant business community of Sarasota County for another productive year ahead.

Sincerely,

Devaney Iglesias 4

BOARD OF DIRECTORS FY 2024 Executive Committee

Devaney Iglesias CHAIR

FLORIDA POWER & LIGHT COMPANY

Brett Henson, Esq. VICE CHAIR

Steve Morehart, CPA TREASURER

Erin Cigich SECRETARY

Mark Irwin PAST CHAIR

Commissioner Erik Arroyo

Commissioner Penny Gold

Council Member Rick Howard

Commissioner Barbara Langdon

PURVIS GRAY

PERFORM [CB]

TRUIST

Elected Officials

Commissioner Ron Cutsinger

SARASOTA COUNTY

CITY OF SARASOTA

TOWN OF LONGBOAT KEY

CITY OF VENICE

CITY OF NORTH PORT

At-Large Members Dr. Michael Crosby, Mote Marine Laboratory & Aquarium | Dr. Todd Fritch, State College of Florida Dr. Karen Holbrook, University of South Florida Sarasota-Manatee | Eric Kowalewski, PGT Innovations Art Lambert, S-One Holdings Corporation | Phillip Lanham, Gulf Coast Community Foundation Tyler McCallister, Brown & Brown Insurance | Joseph McKenna, Sarasota Orchestra | Charles Murphy, The Bank of Tampa Charles ‘Chip’ Murphy, Michael Saunders & Company | Chris Perkins, SouthState Bank | Scott Sensenbrenner, Enzymedica Rick Severance, Wellen Park | Garrett Shinn, Carr, Riggs & Ingram | Heather Williams, Kerkering, Barberio & Co. Zachary Buffington, Esq. (Board Counsel), Williams Parker Attorneys at Law 5

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STRATEGIC TARGET INDUSTRIES

TECHNOLOGY

LIFE SCIENCES

HQ & FINANCIAL PROFESSIONAL SERVICES

FILM & CREATIVE

MANUFACTURING & LOGISTICS

I. LEAD THE ECONOMIC ECOSYSTEM • Champion public policy that promotes economic development • Foster collaboration and innovation for public-private partnership • Convene partners to drive key initiatives • Facilitate and disseminate data and trends that impact the regional economy II. RETAIN AND GROW CURRENT BUSINESSES • Increase awareness of the services and resources available for companies seeking growth • Expand the availability and value of the services and resources focused on business retention III. RECRUIT NEW DIVERSE BUSINESSES • Focus on high-wage targeted industries • Position Sarasota County as a hub for innovation within the Greater Tampa Bay Region

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FISCAL YEAR 2024 TIMELINE OCTOBER 2023 Vice President of Economic Development, Joshua Ewen, attended Southtec, presented by the Association for Manufacturing Technology (AMT). Josh met and marketed the assets of Sarasota County to over 350 advanced manufacturing companies.

NOVEMBER 2023 The EDC and City of North Port Economic Development teams attended the Area Development Fall 2023 Consultants Forum in Ft. Lauderdale, FL. This opportunity provided Sarasota County and the City of North Port with a direct link to site selectors, corporate real estate executives, and business decision-makers from around the country discussing regional features, such as North Port’s Innovation Corridor - a new industrial business park development with over a million square feet of commercial real estate.

DECEMBER 2023 As the EDC wrapped up the first quarter of its fiscal year 2024, we celebrated the successful opening of EDC business client PartsVu in the City of Venice. PartsVu distributes a range of high-quality boat parts and accessories to customers nationwide. They are hiring 20 new employees.

JANUARY 2024 The Economic Development Foundation of Sarasota County (EDF), EDC’s extended 501(c)3, received a generous $35,000 grant from the Truist Foundation. The grant supported the Sarasota County Technology and Entrepreneur Network (TEN), an initiative led by the EDC. The TEN group has identified the strengths and gaps within our local entrepreneurial ecosystem. Through the “Strengthening Small Business” pillar of the Truist Foundation, the program aimed to bridge those gaps and attract more tech entrepreneurs to the region while bringing more private investors into the ecosystem.

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FEBRUARY 2024 The EDC had the honor of hosting the 2nd Annual Consultant Connect Women’s Summit.

It was a two-day forum for women in economic development. Before the forum began, the EDC spent time with eight Site Selection Consultants from around the country - these consultants help growing companies identify their next growth location. The consultants joined the EDC, business and government leaders for interactive discussions about the business assets and opportunities in Sarasota County.

MARCH 2024 Ringling College of Art + Design hosted the 8th Annual Virtual Reality and Healthcare Global Symposium, where the EDC had a booth. Team members connected with numerous companies and industry leaders to discuss emerging technologies and the benefits of doing business in Sarasota County.

The EDC hosted Select Florida’s German Delegation to build relationships with German and European companies seeking Foreign Direct Investment opportunities in Florida. They received a tour of Sarasota County, and we showcased why their clients should choose Sarasota County for their business growth.

APRIL 2024 VP of Economic Development, Joshua Ewen, and Economic Development Specialist, Nico Marchitello, traveled to Greenville, SC, for the Industrial Asset Management Council (IAMC). During the visit, they met with nearly 20 companies to promote Sarasota County for their future industrial and manufacturing growth needs. Additionally, the EDC partnered with FloridaCommerce, SelectFlorida, and other EDO partners within the state to host corporate real estate decisionmakers, brokers, and national site selectors. The goal was to continue a strong brand message that Sarasota County is welcoming and ready for its diverse business and clients!

The EDC launched a new marketing campaign, CreateSRQ, to elevate the county’s status as a hub for innovation, technology, and creative industries. The dynamic campaign is designed to attract tech pioneers, creative visionaries, and filmmakers alike. CreateSRQ isn’t just about bringing talent to Sarasota; it is about fostering a community where innovative industries thrive, serving as a nexus for collaboration and opportunity; the programs the EDC supports connect industry leaders, aspiring professionals, and job seekers, providing invaluable resources and forging connections that drive success. Check out CreateSRQ.org today!

MAY 2024 President & CEO, Erin Silk, was recognized as one of the Top 50 Economic Developers in North America for 2024 by Consultant Connect. This prestigious award acknowledges the exceptional contributions made by economic developers worldwide. It was indeed an honor and a significant milestone in Erin’s career.

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MAY 2024 Over 350 attendees joined the EDC at the 2024 Economic Outlook.

There was a panel discussion moderated by Mark Gordon, which was dynamic and informative. Notably, Nathan Ohle, President & CEO of the International Economic Development Council, shared valuable insights. When asked about the top three things companies seek as they consider a community for their expansions, Ohle mentioned the importance of a community’s quality of life, workforce availability, and connectivity within the community - areas that significantly align with the programs offered by the EDC.

JUNE 2024 Congratulations to Big Top Brewing Company, the inaugural recipient of the EDC President Award! This award celebrates businesses that have invested in capital, job creation, and the future of Sarasota County.

Big Top Brewing Co. started when there were no craft breweries in Sarasota and has since become a significant part of the area’s cultural and economic landscape. With its largest location now open, featuring a restaurant and production scale brewery, the EDC was pleased to support this local company’s growth over the past four years.

JULY 2024 The EDC team was thrilled to support Harmar Mobility’s Sarasota headquarters and manufacturing facility expansion. The two organizations have worked collaboratively over the past five years to facilitate their growth. Harmar is expanding their engineering, research and development, and warehousing capabilities with a new 30,000 sq. ft. facility in the North Gate Industrial Park.

Harmar’s recent growth led to the hiring of 40 new employees.

SEPTEMBER 2024 The EDC facilitated a groundbreaking venture and entrepreneurship event in collaboration with our Investors and community partners. This inaugural event marked a curated partnership between our organization, Bridge Angel Investors, Gulf Coast CEO Forum, Robrady, and Sarasota Growth Ventures. The primary objective was to unite entrepreneurs, business leaders, and investors, providing a platform for collaborative opportunities and the advancement of startup and scalable companies in our region.

The EDC hosted a successful 2024 Annual Meeting with over 400 attendees. Fredrick J. Piccolo, President and CEO of Sarasota-Bradenton International Airport, was honored as the 2024 Clyde Nixon Business Leadership Honoree. The event included a panel discussion with industry leaders moderated by Dr. Larry Thompson, President of Ringling College of Art + Design, covering creativity in tech, real estate, and the Blue Economy.

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TARGET INDUSTRIES A target industry in economic development refers to a specific sector that a region or organization focuses on promoting for growth due to its potential economic benefits, such as job creation, investment attraction, or innovation potential. These industries are selected based on regional strengths, workforce skills, infrastructure, and market demand.

The future of Sarasota County is bright. As leaders in economic development, we are future-focused on being a catalyst, inspiring collaboration among our stakeholder partners, and inducing investment and industry diversity in the County’s economy.

This past year, the EDC has focused on delivering core business expansion and attraction services to our clients, with outcomes noted in this Annual Report. We have also delivered on our key strategic initiatives thoughtfully and collaboratively, including hosting 50 meetings on increasing Business Park space, using artificial intelligence tools and marketing programs to reach national and international business leadership, and facilitating ecosystem development with tech-based entrepreneurs and launching CreateSRQ, a marketing initiative for the creative industries.

Joshua Ewen, CEcD Vice President, Economic Development

The EDC is anticipating sizable industry growth from the technology and manufacturing sectors over the next five years, which aligns with what we see for the greater Tampa Bay area. Additionally, we are looking forward to the growth of our initiative with Mote Marine Laboratory & Aquarium in the Blue Economy – marine technology transfer space. Our focus on high-growth target industries will drive the future of our current and nextgeneration workforce that calls Sarasota County home.

Sincerely,

Joshua Ewen, CEcD 11

BUSINESS PARK INITIATIVE A high priority of the EDC of Sarasota County is to grow Business Park sites throughout Sarasota County.

A few years ago, the EDC started tracking the growing demand for light industrial/warehouse space while, at the same time, very few new sites were added to the market. This need was further amplified by the fast growth our community has experienced over the past few years.

Beginning in 2020, the EDC collaborated with the Sarasota County Commission to address this challenge. This initiative has provided property owners along the growing major corridors with the new opportunity to rezone to a flexible Business Park.

The first rezoning in July 2023 added 13 acres of much-needed Business Park along Fruitville Road at the Sarasota International Trade Center Corridor.

The Business Park overlays are essential tools for the EDC. Our team is diligently collaborating with property owners, developers, and business owners to expand our Business Park capacity from the City of Sarasota to the City of North Port and everywhere in between. Every new possible Business Park site has been meticulously mapped, and the team is actively engaged in finding suitable locations for the growing companies and those trying to enter our market.

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The EDC is supporting the development of 675,000 square feet of new Business Park over the next three years and is projecting another 6-8 million square feet over the next decade.

To learn more about all the Business Park opportunities in Sarasota County visit edcsarasotacounty.com/sites.

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94 Business Expansions 4,672 Jobs 1,702,120 SF of Commercial Real Estate Filled $249.4 Million Capital Investment

85 Permits Issued | $3.45 Million in Local Production Spend 38 Workforce Referrals with 365 Local Film Production & Workforce Jobs Largest Clients: Yamaha Boats & Waverunners, Dick’s Sporting Goods, MTV 14

INVESTOR ENGAGEMENT This year, the EDC welcomed over 30 new private investors, including Chair Advisors like Business Observer, Rogers Market, and FleetForce Truck Driver Training. These partnerships are critical in driving economic growth across diverse sectors. The year 2024 marked significant milestones in growth, collaboration, and innovation for the EDC. Our focus remains on driving economic diversity, fostering partnerships, and attracting investment to this vibrant region. Our impact is a direct reflection of the investment made by our public and private partners.

Engaging Events That Strengthened Our Investor Network Our events created meaningful connections within the Sarasota County business community.

Key highlights include: • Transforming the Community for Tomorrow: In January, we hosted an event spotlighting transformative projects in North Sarasota County, such as Mote Science Education Aquarium (SEA) and The Legacy Trail, engaging community leaders in discussions about the region’s economic future.

• Business in the Ballpark: In February and March, we hosted two networking events at Orioles and Braves games, fostering collaboration between our government partners and private investors across industries, while enjoying an afternoon of Spring Training.

• Meet the Projects: April’s inaugural event showcased the stories of four local entrepreneurs that we supported through their growth projects, emphasizing the EDC’s role in supporting innovation and business growth.

• Economic Outlook: In May, we celebrated the 20th anniversary of our organization with a dynamic panel discussion highlighting economic indicators and trends.

• Annual Meeting: September’s meeting attracted over 400 attendees, with engaging discussions on our region’s economic achievements and the final celebration of our EDC’s 20th anniversary.

LOOKING AHEAD

In 2025, we are thrilled to have planned a series of exciting engagements designed to drive business growth, strengthen partnerships, and create exceptional value for all our Investors. These initiatives reflect our commitment to innovation, economic development excellence, and a forward-looking strategy that positions us for continued success.

• Chair Advisors Roundtable: Federal Reserve Bank of Atlanta - Jacksonville Branch • Chair Advisors Forum: Secretary of the Florida Department of Commerce J. Alex Kelly • Business in the Ballparks • Economic Outlook • Industry Roundtables • Annual Meeting • Investor Socials 15

INTERLOCAL PARTNERS

Chair Advisors

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FY 2024 Investors • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

Aqua Plumbing & Air Aso Asolo Repertory Theatre Atlas Insurance Audigr Group Bank of America BMO Brown and Brown Business Observer CareerSource Suncoast Carr, Riggs & Ingram CASTO Cavanaugh & Co. CBIZ Centennial Bank Coatue Companies Comcast Community Foundation of Sarasota County CORE Construction Creative Empowerment Program Crews Bank DMSI International Enzymedica Express Employment Professionals FCCI Insurance Group FleetForce Truck Driver Training Florida Power & Light Company Florida Studio Theatre Forristall Enterprises Gator Grading & Paving

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Goldberg Companies Goodwill Manasota Gulf Coast Community Foundation Halfacre Construction Company Harmar Mobility Harry E. Robbins Real Estate HCA Florida Englewood Hospital Hembree & Associates Hotwire Communications Hoyt Architects Ian Black Real Estate Icard, Merrill, Cullis, Timm, Furen & Ginsburg, PA John Galt Staffing JP Morgan Chase Kerkering, Barberio & Co. Lakewood Ranch Business Alliance Lakewood Ranch Medical Center Lodgco Hospitality Mahoney Concrete Systems MakSchu Productions Marie Selby Botanical Gardens Mauldin & Jenkins MBJ Group Michael Saunders & Company Miles Partnership Mote Marine Laboratory & Aquarium Mullet’s Aluminum Products NDC Construction Company North Port Area Chamber of Commerce 17

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Northern Trust Perform[cb] PGT Innovations PNC Financial Services Group PPi Technologies Group Premier Sotheby’s International Realty Purvis Gray CPAs RE/MAX Alliance Group REALTOR Association of Sarasota and Manatee Regions Bank Relofant Ringling College of Art & Design RITE Technology Rumble RVi Planning + Landscape Architecture Rogers Market SAMA Sarasota Bradenton International Airport Sarasota Memorial Health Care System Sarasota Opera Sarasota Orchestra School Board of Sarasota County SEPA FL Shepherd Insurance Shumaker Siesta Key Chamber of Commerce S-One Holdings SouthState Bank Stantec Starling Group State College of Florida

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Sutter Quality Foods Sweet Sparkman Architects Sylint Group Synovus Bank Taubman d/b/a The Mall at University Town Center TECO Peoples Gas The Bank of Tampa The Circus Arts Conservatory The Corley Company The Greater Sarasota Chamber of Commerce TPC Prestancia Truist United Way South Sarasota County Universal Insurance Managers University of Florida Innovation Station Sarasota County USF Sarasota-Manatee Valley Bank Van Wezel Venice Area Chamber of Commerce Visit Sarasota County Wellen Park Wessel Construction Westcoast Black Theatre Troupe Wharton-Smith Williams Parker Attorneys at Law Willis A. Smith Construction WJArchitects Zenith Insurance Group

edcsarasotacounty.com info@edcsarasotacounty.com 941.309.1200 301 N Cattlemen Rd. Ste. 203 Sarasota, FL 34232