Tompkins County Development Corporation
401 E. MLK Jr. Street, Suite 402B, Ithaca, New York 14850 • phone: (607) 273-0005 • fax: (607) 273-8964
Administration provided by TCAD
TOMPKINS COUNTY DEVELOPMENT CORPORATION BOARD OF DIRECTORS MEETING
• Thursday, December 8, 2016 •
4:00 PM
Governor Daniel D. Tompkins Building Legislative Chambers
121 E. Court Street Ithaca NY 14850
AGENDA
1. CALL TO ORDER 2. PRIVILEGE OF THE FLOOR 3. BUSINESS
• 2017 Final Budget Approval • TCAD Work Plan Review
4. STAFF REPORT 5. APPROVAL OF MEETING MINUTES – October 13, 2016 6. ADJOURNMENT
Tompkins County Development Corporation2017 DRAFT Budget (approved 10/8/16)
Projected Starting Balance 236,646$
IncomeFees 113,540$ Interest 200$
Total 113,740$
ExpensesAdministration -$ Attorney Fees -$ Other fees paid -$
Audit -$ Total -$
350,386$
Tompkins County Development Corporation2017 DRAFT Budget (12/8/16)
Projected Starting Balance 258,541$
IncomeFees 87,540$ Interest 200$
Total 87,740$
ExpensesAdministration -$ Attorney Fees -$ Manu. Training Study (carryover) 8,360$ Other fees paid -$
Audit -$ Total 8,360$
337,921$
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TCAD 2017 WORK PLAN
Mission: TCAD is dedicated to building a thriving and sustainable economy that improves the quality of life in Tompkins County by fostering the growth of business and employment.
Vision: A flourishing economy with exciting, innovative firms that inspire and attract a talented workforce.
• Build strategic, as opposed to transactional, relationships with our board, investors, customers, and external resources.
• Be forward-looking in developing our services, assets and resources.
• Ensure all activities are mission driven, developing: a wide range of quality employment opportunities for local residents; skilled workforce and entrepreneurs; business and property investment; and a high functioning ecosystem for business sectors.
• Target resources to support local businesses and entrepreneurs that have strategic reasons to be located here and are committed to the local community.
• Calculate and track impact of activities to guide decisions on utilization of scarce resources.
• Provide leadership on the key issues impacting the economy of the County, region and State.
Organizational Strategies
Core Activities Direct Services to Businesses Provide information and technical, financial and site location assistance that supports the creation, retention, expansion and attraction of businesses in Tompkins County. TCAD’s focus is on wealth-creating, traded sectors including: Education, Manufacturing & High Tech, Visitors & Tourists, Utilities, Agriculture, and Mining. Economic Development Leadership to the County Provide leadership for the County’s economic development activities, including long-term strategies and responses to near-term challenges and opportunities. Foster the leadership relationships and stakeholder engagement necessary to successfully implement local and regional economic development initiatives. Marketing, Communications & Development TCAD: Communicate our objectives and accomplishments to our investors, the businesses we provide services to and the community in general. Ensure long-term and diverse funding of TCAD. Local Economy: Participate in creating an environment in Tompkins County and New York State that supports economic growth. Promote Tompkins County as a good place to live and do business.
General Administrative Functions Maintain economic and business information resources to increase accountability and well-informed policy decisions. Provide office and program administration, and facilitate staff development. TCAD Foundation Administer the TCAD Foundation. TCAD 2017 Work Plan |
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Direct Services to Businesses Summary Metrics 2015 2016 Projects: 19 16
TCIDA/TCDC 9 5 Loans 4 2 Tourism Grants 6 6
Projected job creation (FTE): 206 98 Projected avg. hourly wage: $19.47 $22.22 New investment: $170M $66.9M Refinance: $43.9M $0M Key customer meetings: 90 81 Stakeholder participation: 413 289 Economic Development Leadership for the County Marketing, Communications and Development of TCAD and the Local Economy
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TCAD Foundation
2016 Highlights of Top Activities & Accomplishment
Contents
2016 Highlights of Top Activities & Accomplishments ................................................... 2
Direct Services to Businesses .............................................................................................. 3
Economic Leadership for the County ................................................................................ 4
Marketing, Communications & Development .................................................................. 5
General Administrative Functions ..................................................................................... 6
TCAD Foundation ............................................................................................................... 7
TCAD 2017 Work Plan |
See the 2016 Activities and Accomplishments Report for More Details.
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Direct Services to Businesses Core Activities
• Administer five local programs:
o Tompkins County Industrial Development Agency
o Tompkins County Development Corporation
o Revolving Loan Fund Program (TCAD, Minority and Women’s, Countywide, USDA, Sustainable Business, and Town of Dryden)
o Empire Zones Program
o Tourism Capital Grants Program
• Connect businesses with appropriate incentives, services and technical assistance offered by other local, regional, State and federal programs with a particular focus on the State’s CFA and URI funding.
• Provide financial assistance to businesses.
• Interpret and promote new regional, State and federal economic development programs.
• Undertake annual business retention and expansion (BR&E) visits with customers to establish and maintain strategic relationships and deliver targeted services.
• Collaborate with Tompkins County Workforce Development Board to assist businesses in meeting workforce goals.
• Work with the Center for Regional Economic Advancement and other Cornell programs to assist technology-related businesses to start, grow and stay in Tompkins County.
• Provide site location assistance to key projects.
Featured Activities
• Explore sources to recapitalize funds available for lending through the Revolving Loan Fund.
• Support the proposed Business Energy Navigator Program with financial support and networking with key customers.
TCAD 2017 Work Plan |
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Economic Development Leadership for the County
Core Activities • Provide thought and process leadership for the County’s economic development activities, including
long-term strategies and responses to near-term challenges and opportunities.
• Foster the leadership relationships and stakeholder engagement necessary to successfully implement local and regional economic development initiatives.
• Convey needs of customers to local, regional, State, and federal policy makers to refine existing economic development programs and to create new ones.
• Work with key community stakeholders to advance economic development policy goals at the local, State and federal level.
• Maintain partnerships with key organizations such as the Chamber of Commerce, Cornell University, Ithaca College, TC3 and other TCAD partners to develop policies and support activities that achieve TCAD’s economic development objectives.
• Provide leadership to the Economic Development Collaborative for implementation of the Tompkins County Economic Development Strategy.
• Collaborate with the Workforce Development Board to improve the workforce pipeline that is critical to economic success.
• Act as the County’s economic information resource. Prepare labor, business sector and other economic data analysis. Keep stakeholders and the public informed.
• Work to sustain and improve airport service with the Air Service Board.
• Collaborate with the County on addressing long-term and immediate energy needs and emissions goals in ways that contribute to a vital local economy.
Featured Activities
• Promote the Economic Development Strategy to the community, especially to municipal and business leaders.
• Support with the Workforce Development Board’s efforts to establish a training program for entry-level employees in the advanced manufacturing sector.
• Collaborate with key stakeholders to implement the recommendations of the Energy and Economic Development Task Force, including working with the County’s Planning Department, Avangrid and the Public Service Commission.
• Explore the feasibility of a business attraction program based on the community’s unique research and development capabilities.
• Recognizing the importance of housing to the economy, collaborate with public, private, and non-profit efforts to increase housing stock, especially affordable to the workforce.
TCAD 2017 Work Plan |
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Marketing, Communications & Development
Core Activities • Ensure long-term and diverse funding of TCAD.
• Hold periodic Investor’s Council meetings to engage TCAD investors.
• Promote the Industrial Development Agency, Tompkins County Development Corporation, Revolving Loan Funds and other incentive programs.
• Execute TCAD’s marketing strategy to increase public awareness and investment. Communicate our objectives and accomplishments to our investors, the businesses we serve and the community in general.
o Plan and implement TCAD’s Annual Report to the Community.
o Market and promote TCAD through the Annual Report, TCAD Newsflash, and signage for project sites, editorials, advertisements, media relations and community sponsorships.
o Continue to update, develop, and promote www.tcad.org as the organization’s public interface, ensuring that the site reflects TCAD’s activities and accomplishments.
o Increase TCAD’s presence by speaking to community groups and organizations to create a greater understanding of the work we do.
• Participate in creating an environment in Tompkins County, the region and New York State that is supportive of economic growth. Promote Tompkins County as a good place to live and do business.
Featured Activities
• Hire consultant to lead the 2019 – 2023 Investment Campaign, starting with a feasibility study.
• Begin discussions with County Legislature leadership on next 5-year contract.
• Implement recommendations from the Communications and Marketing Strategy developed in 2016.
• Refine the TCAD web site, focusing on content reorganization while maintaining existing style.
TCAD 2017 Work Plan |
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General Administrative Functions
Core Activities • Provide overall office and program administration including finance and budget as well as human
resources support.
• Administer ED programs, grants, and contracts, specifically: revolving loan funds, Industrial Development Agency, Tompkins County Development Corporation, TCAD Foundation.
• Provide fiscal management of TCAD’s operations.
• Facilitate staff development.
• Perform a Board Self Evaluation on an annual basis.
• Continue to enhance Board engagement.
• Create the annual work plan. Track progress on work plan goals, and at year-end compare accomplishments to goals.
• Monitor the Public Authority Accountability Act/Public Authority Reform Act as it pertains to compliance for the TCIDA and TCDC.
• Periodically review/renew TCAD’s organizational mission, strategy, values, and goals.
Featured Activities
• Review and update TCAD’s 5-Year Strategic Plan with assistance from an external consultant if necessary.
• Establish and implement process to hire successor to current TCAD President (expected retirement in 3rd quarter 2018).
TCAD 2017 Work Plan |
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TCAD Foundation – Finger Lakes Regional Prosperity Network
Core Activities • Provide a regional umbrella to catalyze, plan, and seek new funding resources for regional partnerships
in four impact areas:
o Rural Wealth Creation
o Workforce Development
o Entrepreneurship
o Energy
Featured Activities
• Implement recommendations from the Food Business Incubation Program feasibility study.
• Expand Foundation Board with representatives from the region.
• Develop and begin to implement long-term business plan that includes a fund raising strategy.
• Develop strategic partnerships across the region that are aligned with the Foundation’s core activities.
TCAD 2017 Work Plan |
Tompkins County Development Corporation Board of Directors Meeting DRAFT Minutes
October 13, 2016 Tompkins County Legislative Offices
121 E. Court Street, Ithaca, NY Present: Jim Dennis, Rich John, Grace Chiang, Jennifer Tavares, Will
Burbank, Martha Robertson, Svante Myrick Staff Present: Heather McDaniel, Ina Arthur (recording) Guests Present: Shawn Wilczynski (Cargill Inc.), Mike Sigler (TC Legislature),
Philly DeSarno, Nels Bohn (City of Ithaca), Rick Snyder (TC Finance), John Dennis, Deborah Dawson, Krys Cail
CALL TO ORDER Jim Dennis called the meeting of the Tompkins County Development Corporation to order at 4:05 PM PRIVILEGE OF THE FLOOR None. ADDENDUM TO AGENDA None. BUSINESS 3Q 2016 Financial Update Ms. McDaniel reported on the 3Q 2016 financials. Ms. Robertson had a question as to the income amount –it looks low. Ms. McDaniel commented that fees from issuance of bonds to William George Agency and Kendal at Ithaca are yet to be received. 2017 Preliminary Budget Approval Jim Dennis moved to approve the 2017 Preliminary Budget for the Tompkins County Development Corporation. The motion was approved 7-‐0.
STAFF REPORT None. MINUTES Will Burbank moved to approve the TCDC Board Minutes from the July 14, 2016 Meeting. Jennifer Tavares seconded the motion. The motion was approved 7-‐0. Mr. Dennis closed the meeting of the TCDC at 4:10 pm.
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