annual report 2007. 22 contents 1.comida defined 2.organization 3.projects 4.2007 accomplishments...
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Annual Report 2007Annual Report 2007
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Contents
1. COMIDA Defined2. Organization3. Projects4. 2007 Accomplishments5. Business Development6. Community Partnerships7. Local Investment8. Survey
9. 2008 Goals
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COMIDA Defined
• Established 1972
• NYS General Municipal Law
• Public Benefit Corporation
• Purpose: Promote, encourage, attract and develop job and recreational opportunities and economically sound industry in Monroe County
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BOARD OF DIRECTORS
Theresa Mazzullo – ChairRobert Hurlbut – Vice Chair
Ann BurrLauren Doyle
Stephen MooreHank Stuart
Vacancy
COUNTY OF MONROE INDUSTRIALDEVELOPMENT AGENCY
(COMIDA)
COUNTY OF MONROE INDUSTRIALDEVELOPMENT AGENCY
(COMIDA)
STAFF
Elaine Liberti – Admin. Asst.Delaine George – Exec. Asst.
Lydia Birr – Empire Zone CoordinatorRyan Snyder – Econ. Dev. Spec.Martha Malone – Research Spec.
Charon Ramirez – Admin.
Judy SeilExecutiveDirector
Organization
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PROJECTS
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Projects
Projects Approved2000-2007
77
47
33 3541
77
8896
0
20
40
60
80
100
2000 2001 2002 2003 2004 2005 2006 2007
6
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Projects
2007 Highlights
Company Name Investment Tech Park Owners $90.8 Million WilJeff, LLC $72.8 Million Carestream Health, Inc. $26.0 Million Riverview Equity-1, LLC $30.0 Million
Total 2007 Projects $405.4 MillionTotal Jobs Retained 6,360Projected New Jobs 1,352
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ProjectsBenefit/Cost
In Millions
Year Benefit Cost Benefit/Cost Ratio
2004 $21 $ 6 3 to 12005 $87 $13 6 to 12006 $57 $14 4 to 1 2007 $59 $16 4 to 1
*Statistics are generated via a benefit cost model created for COMIDA by the Center for Governmental Research (CGR) which takes into account COMIDA benefits enjoyed by the applicant and the subsequent benefit to the community in the form of taxes paid. The model used is a national model using the Minnesota IMPLAN Group.
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Economic Development Division
Total Projects Approved: 165
Total Investment: $471 Million
Projected new jobs: 1,925
Jobs Impacted/Retained: 11,580
Total 2007 Projects
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2007 Accomplishments• Adopted Green JobsPlus Tax Abatement
• Adopted City Housing Tax Abatement
• Adopted Shelter Rents Tax Abatement
• Created Monroe Manufacturing Rewards Program
• Updated Marketing Materials
• Successfully Merged Procurement Technical Assistance Center (PTAC)
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2007 AccomplishmentsPublic Authorities Accountability Act
– Board Training Completed as Directed by Authority Budget Office
– Staff Attended Public Authorities Reporting Information System (PARIS) Training
– Committees Formed
Governance Audit Job Creation Compliance
Theresa Mazzullo Ann Burr Theresa Mazzullo
Hank Stuart Stephen Moore Hank Stuart
Robert Hurlbut Lauren Doyle Robert Hurlbut
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BUSINESS DEVELOPMENT
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Business Development
County Executive Business Outreach Program
• ABVI- Goodwill Industries • Pierce Industries, LLC• Plumbers & Pipefitters Local 13• Lenel Systems International, Inc• Southco, Inc• Superior Technology• Cryovac, Inc• Gradient Lens Corp
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Business Development
• Client meetings 193
• Presentations 39
• Attendees 530
• Trade shows 5
• Quarterly Newsletter Recipients 2,500
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COMMUNITY PARTNERSHIPS
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Community PartnershipsProjects by Municipality
18%Other
Town/Villages
4%Pittsford
4%Chili
4%Ogden
4%Webster
6%Perinton
12%Gates
14%Henrietta
34%City of
Rochester
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Community Partnerships The Entrepreneurs Network
To promote job growth and enhance new business creation in Upstate New York's technology sector by providing area entrepreneurs with practical, hands-on education and training programs as well as access to those resources critical for building successful new ventures.
COMIDA Funding: $155,000
Results• Participants 47• Companies 41• Financing Secured $7 Million• Jobs Created 50
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Community PartnershipsGreater Rochester Enterprise
Regional economic development organization supporting business attraction and expansion, as well as entrepreneurship and innovation
COMIDA Funding: $300,000
Results• 15 Trade Shows• 20 Site Proposals• New Site Selection Webtool
(rochesternyprospector.com)
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LOCAL INVESTMENT
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Local Labor
• Projects approved since 2004 (which require 100% local labor) 170
• Project Costs: $1.2 Billion
• Construction and site work cost: $719 Million
• Construction jobs created: 6,217
*Statistics are generated via a benefit cost model created for COMIDA by the Center for Governmental Research (CGR) which takes into account construction jobs generated per project.
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2007 COMIDA SURVEY
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Survey
• Companies Surveyed 225
• Responses 49
• Response Rate 22%
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Conducted through SMARTInternet Marketing (SMARTSurvey)
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RESULTS
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How important were COMIDA benefits to your project?
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Very Important 76%
Somewhat Important 14%
Important 10%
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Without COMIDA benefits, the project would have been:
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Other7%
Outside Monroe County
12%
Cancelled10%
Delayed18%
Scaled Back53%
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Do you agree with COMIDA’s Local Labor Policy?
26
AgreeSomewhat
24%
N/A8%Disagree
Somewhat3%
Disagree6%
Agree59%
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2008 GOALS
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2008 Goals• Public Authorities Accountability Act - ongoing board
education
• Increased Marketing of Economic Development Programs
• Continue joint calling efforts with Economic Development Partners and GRE
• Promote local labor and local purchases
• Continue to work with CGR on updating benefit cost model