Q3 REPORT 2017
Providing Partnership & Support The Growth Alliance for Greater Evansville was created in early 2007 as a public-private non-profit par tnership through the concer ted ef for ts of government, business and higher education. We provide suppor t to new and existing businesses that enhance the overall economic vitality of the City of Evansville and Vanderburgh County, Indiana.
Our Mission To drive and suppor t economic development activities that provide positive economic impact and sustainable growth; through attraction and expansion of investment and new jobs, retention of existing jobs, and incubation of new innovationbased businesses in the City of Evansville and Vanderburgh County, Indiana.
Evansville’s Hub, Fostering a Culture of Collaboration & Innovation to Fuel Growth.
MESSAGE FROM THE CHAIRMAN The Growth Alliance powers through 2017 connecting businesses, talent, ideas, and experts to elevate the economic prosperity of Vanderburgh County. The organization concentrates its resources and expertise in three strategic focus areas: • Retention & Expansion of Existing Businesses • Accelerating Entrepreneurship & Innovation • Quality of Place & Talent Development
A SPOTLIGHT ON BUSINESS RETENTION & EXPANSION Through Business Retention and Expansion outreach, the Growth Alliance has visited over 25 companies’ year-to date. Feedback provided implies that businesses in greater Evansville are optimistic about their growth opportunities and growth taking place within the community. There are many ways the Growth Alliance can assist companies in Evansville and Vanderburgh County, but one of the most valuable ways is continuing to be a resource. The Growth Alliance is knowledgeable and maintains relationships with many resources providers. From connecting to workforce program and training grants, to developing relationships with local universities, and even identifying local incentives to support growth, are just some examples the Growth Alliance is there for your business.
A SPOTLIGHT ON Q3 ACCOMPLISHMENTS As Chairman of the Board I am proud to highlight a handful of accomplishments from Q3 found in this report, including: • The attraction of Israeli company, Polyram Group; a global producer of raw materials for the plastics industry to the community. Polyram chose Vanderburgh County for its first U.S. production facility, with plans to create more than 50 new jobs by 2022. • The launch of a crowdfunding campaign to bring a cultural districts trolley to Evansville. More than just a trolley, TED is a connectivity project that will create economic opportunity, improve the quality of life and spur business activity and job creation within the districts; one of the Growth Alliance’s strategic initiatives. The campaign secures matching funds from the Indiana Housing Community Development Authority (IHCDA). • The Growth Alliance leads the way in providing remote workers, solo entrepreneurs and startups with affordable open-desk work space by operating greater Evansville’s only cowork space. In Q3 the Growth Alliance completed a cost/benefit analysis and cumulative research proposal for expanding the downtown space at Innovation Pointe. Lastly, I would like to thank our City, County and private stakeholders listed in the report for their generous support of the Growth Alliance’s valuable services and activities. Rick Schulz Chairman, Growth Alliance Executive VP & CFO, United Companies
BUSINESS RETENTION & EXPANSION
Q3
The Growth Alliance's business retention and expansion efforts encourage the sustainability and growth of established businesses in Vanderburgh County. Examples of support that the Growth Alliance could provide, or help secure, include: Business Expansion Opportunities Facility Relocation Retention of Existing Industry Building and Site Searches Navigating the Regulatory Process
YEAR-TO-DATE
Identification of Applicable Incentives Connecting to Workforce / University Resources Tax Phase-in Assistance Making Connections to Suppliers
INDUSTRY
NEW JOBS
RETAINED JOBS
Manufacturer of Sealants & Adhesives
25
55
$700,000
Industrial Supplies / Distribution
7
6
$1,515,000
11
--
$15,095,682
43
12
$16.6 Million
RETENTION & EXPANSION MultiSeal Inc.
Constructed a new warehouse Added a new process line
Imperial Fastener and Industrial Supply, constructing a 23,700 square-foot warehouse and office space
Hyatt Place Hotel
Hospitality
YTD TOTAL:
CAPITAL INVESTMENT
*Job Count: Accounts for full-time employment only with an average hourly wage above the county average and includes employee benefits. Part-time and seasonal positions are not included in our count.
Q3: IN THE WORKS
INDUSTRIES
POTENTIAL
NEW JOBS
RETAINED JOBS
Plastics, Light MFG, LOCAL COMPANIES
Warehousing, Distribution, Transportation
200+
50+
CAPITAL INVESTMENT
Over
$20 Million
BUSINESS RETENTION & EXPANSION
Q3
Business Rentention & Expansion Outreach Visits
BUILDING RELATIONSHIPS WITH LOCAL EMPLOYERS 24+
There are many ways the Growth Alliance can assist companies; one of the most valuable ways, is being a resource. The Growth Alliance has a network of resources to pull from to assist companies with pain points and/or opportunities. Year-to-date, the Growth Alliance has assisted over 24 companies by connecting them to On-the-Job Training, Incumbent Worker Training Funds, and access to local universities.
ONLINE BUSINESS LICENSING & PERMITTING
In partnership with City & County Department heads, plans continue to move forward for launching a streamlined online process for starting a business in Vanderburgh County with integration to the State of Indiana’s INBiz website. Productive planning meetings between local and state representatives took place in Q3. Plans continue to move forward rapidly. INBiz is the state of Indiana’s one-stop resource for registering and managing your business and ensuring existing businesses are compliant with state laws and regulations. City of Evansville & Vanderburgh County
TAX PHASE-IN & COMPLIANCE REPORTING The Growth Alliance administers the Evansville/ Vanderburgh County Tax Phase-In application process and compliance reporting for all companies who wish to receive or have received tax assistance from the City of Evansville or Vanderburgh County.
Year-to-date, 72 ongoing projects with companies have been assisted by the Growth Alliance for reporting. Compliance reporting before City/County Councils took place in Q3 with all companies in substantial compliance.
ENTREPRENEURSHIP & INNOVATION
Q3
Innovation Pointe is a high-tech business incubator managed by the Growth Alliance for Greater Evansville. Located in the heart of Downtown Evansville, Innovation Pointe assists in the creation and growth of new businesses in the Evansville area
COFFEE + CONNECTING + POSITIVE STORYTELLING
Common Grounds is a weekly event focused on bringing innovative people together for a superb cup of local coffee and a 5 minute story about great innovation, entrepreneurship or exciting things happening in our community. The event kick-off in Q3 with attendance starting in the 15-20 range, and has grown to 40-50 attendees per event. All are welcome to join us for this free event! Monthly “Know Your Neighbors” lunch hour events continued in Q3 to facilitate introductions and collaboration among tenants and coworkers at Innovation Pointe. Presentations included: All About SCORE: offering free, confidential, unlimited counseling to entrepreneurs and small businesses – both existing and startups; SCORE is located on the 2nd floor of Innovation Pointe.
LEGAL CONSIDERATIONS FOR STARTUPS IP Attorney and Innovation Pointe tenant, Rick Martin presented how to protect businesses, ideas and/or inventions through Patents, Trademarks, Copyrights and Trade Secrets.
INTERNAL COMMUNICATIONS Monthly Innovation Pointe tenant and coworking emails continue in Q3 to improve connectivity and awareness among organizations and individuals at Innovation Pointe.
ENTREPRENEURSHIP & INNOVATION
“ Joined The Coworking Space at Innovation Pointe in Q3.
Being new to Evansville and a remote worker, the coworking space has been a fantastic way to make some friends, get connected, and feel involved in the community.
“
NEW COWORKERS
Q3
Testimonial from Member Satisfaction Survey.
COWORKING EXPANSION
A cost/benefit analysis for expanding coworking space at Innovation Pointe was completed in Q3. A cumulative research proposal will be reviewed by the Growth Alliance board in Q4 to determine the feasibility of expansion plans.
PLANNING FOR THE FUTURE
To assist with construction and build-out costs, the Growth Alliance applied for a local grant. Making it past the first and second rounds of applicants, the organization anxiously waits for the announcement of grantees in early November.
ENTREPRENEURS DOMAIN A monthly column in the EBJ written by Growth Alliance President, Ellen Horan Be on the lookout for monthly articles highlighting the success, hardships and lessons learned from some of Greater Evansville’s finest entrepreneurs. Q3 Articles featured: Curvo Labs, Sebree Consulting and a duo of local grads making waves in the short film industry.
QUALITY OF PLACE & TALENT DEVELOPMENT
Q3
REGIONAL BRAND ROLLOUT The e is for everyone community-driven brand launched in May of 2017. The brand is a cultural initiative to connect all corners of the Evansville region; encourage everyone to contribute to affect positive change; and celebrate the innovation and momentum of our community. The Growth Alliance proudly serves as a brand director for the initiative alongside the: Convention and Visitors Bureau, Southwest Indiana Chamber, Evansville Regional Business Committee, Economic Development Coalition of Southwest Indiana and local brand and marketing experts. Businesses in the region are encouraged to take ownership of the brand by creating their own e. The Growth Alliance incorporated ‘e is for everyone’ messaging into a video promoting coworking space -- and engaged coworking members with the community brand.
TED: Trolley of Evansville Districts A crowdfunding campaign for TED: Trolley of Evansville’s Districts launched in Q3 giving the Growth Alliance, alongside the Franklin Street Events Assoc. 35 days to reach a fundraising goal of $25,000 to bring TED to life in Evansville! Every dollar raised by November 14 will be matched by the Indiana Housing Community Development Authority. TED: Trolley of Evansville’s Districts will connect several up-and-coming Evansville neighborhoods, giving residents and visitors greater access to the shops, restaurants and galleries along Franklin Street, Downtown and in Haynie's Corner Arts District. More than just a trolley, TED is a connectivity project that will create economic opportunity, improve the quality of life and spur business activity and job creation within the districts; one of the Growth Alliance’s strategic initiatives. ARE YOU ON-BOARD?
QUALITY OF PLACE & TALENT DEVELOPMENT
Q3
DOWNTOWN BUSINESS ASSISTS The Growth Alliance assisted twelve Downtown businesses through the City of Evansville’s Downtown Design Review Process. Each business presented plans for noticeable renovations to the exterior of their property located within the Downtown Redevelopment Area.
PLANNING FOR THE FUTURE Several studies are underway to plan for our region’s growth in a proactive manner. Infrastructure review and land use planning are advancing in the following areas:
1
I-69 Ohio River Crossing: Five alternatives have been narrowed to three options. While Central Corridor 1 is the cheapest, quickest and requires the fewest relocations of residents and businesses, the state is continuing to evaluate the West Corridor option 1 and 2 to consider the impact on local economies as part of the equation. Only 10 to 20% on any highway is through traffic, so the local impact cannot be undervalued. A final route will be chosen by Fall 2018 with a formal proposal to Federal Transportation by Fall 2019. Route 41 Corridor: INDOT and the MPO are studying the 14 miles of 41 from Walnut Street to Warrenton Road. The goal is to present a plan that balances mobility and access with long-term vision for economic growth in the corridor. Safety and volume data has been collected and the study now moves to developing travel demand models for future growth. Following steps will be to look at innovative designs such as auxiliary turn lanes, driveway consolidation, right turn only lanes, jug handles and roundabouts, with analysis of the alternatives presented by Summer 2018. University Parkway Corridor: The Department of Metropolitan Development, County Commissioners and Area Plan Commission are evaluating the transportation, infrastructure and Land use in the USI corridor. Input has been solicited and data gathered to present Preliminary Plans in January 2018. Evaluations will be made on a parcel by parcel basis with overlay districts potentially proposed. The Growth Alliance participates in in stakeholder meetings on these projects, presenting insight into potential impact on existing business and industry and opportunity for economic growth
NEW BUSINESS ATTRACTION
Q3
The Growth Alliance’s business attractions efforts are fueled by leads from many sources including: the Indiana Economic Development Corporation, local real estate professionals, the Economic Development Coalition of SW Indiana and the Growth Alliance website. IEDC _____ 3
Q3 Project Lead Sources
1 Community Professionals ______
1 Direct ____
In responding to attaction projects, the Growth Alliance acts as the liaison between site-seeking companies, local and state government officials, education providers, transportation and utility offices, as well as private sector resources.
ISRAELI PLASTICS SUPPLIER PICKS VANDERBURGH COUNTY FOR FIRST U.S. PRODUCTION FACILITY! WELCOME POLYRAM! On July 5, 2017 the Growth Alliance proudly announced the addition of Polyram Group, a global producer of raw materials for the plastics industry to the community. Polyram chose Vanderburgh County for its first U.S. production facility, with plans to create more than 50 new jobs by 2022.
New Jobs
Average Wage
New Investment:
50+
$20.00/hr
$11,000,000
(By 2022)
REQUESTS FOR INFORMATION
Six projects reached out for information regarding Evansville & Vanderburgh County as a potential location for their business in Q3.
SITE VISITS HOSTED
Two out of the five projects visited our community touring sites and buildings within greater Evansville.
STAKEHOLDERS Our work is made possible through the generosity of community partners that believe in our mission to support new and existing businesses to enhance the overall economic vitality of the City of Evansville and Vanderburgh County. Without the following community partners, our success would not be possible.
PUBLIC City of Evansville Vanderburgh County PRIVATE AT&T Indiana CHA Consulting, Inc. Dunn Hospitality Group EVV Airport Fifth Third Bank Ford Motor Company Hafer Mulzer Crushed Stone Old National Bank Signarama Evansville EVENT SPONSORS
Tropicana Evansville Vectren Corporation
Tri-State Area Ford Dealerships *List does not include trade/in-kind sponsorships, donations from individuals and/or community foundations.
The Growth Alliance is a certified 501(c)(3) charitable organization
THANK YOU!
318 318Main MainStreet, Street,Suite Suite500 500 Evansville, IN 47708 Evansville, IN 47708 1(812)401.4243 (812) 401.4243
WWW.GROWTHALLIANCEEVV.COM
WWW.GROWTHALLIANCEEVV.COM