Services OverviewEconomic Development implements the BOCC’s Economic Prosperity strategies through the implementation of

programs that result in productive (business), inclusive(residents) and sustainable (environment/finances) growth and improvement.

Major work program areas include: • Targeted Industry Development• Small Business and Entrepreneur Services (ECC)• Minority Business Development• Agribusiness• EDI2 (Tech Startups)• Competitive Sites and Redevelopment• Workforce Development• Cultural Assets• Historic Preservation• Tourism Development

Economic Development

40,046 Jobs and Job-Seekers Impacted

$161MM Private Capital Investment$2MM in estimated new taxes

22,668 Total Jobs Added

Our Value to Hillsborough County• Directly supported 2,686 new targeted industry opportunities through programs• $161MM in new private capital investment in job generating projects• 10 Competitive Sites projects underway or completed with 2.5MM SF of industrial and 270k

SF of office space generating new ad valorem revenue• Economic Development Innovation Initiative (EDI2) – strengthening the tech startup

ecosystem

• Tourism Development – record breaking year for TDT collections - $35MM; increased TDT 6% for FY20; “Make It Tampa Bay” campaign to target business and workforce relocation

• Inaugural cycle of the Cultural Assets - Special Events Partnership grants launched with 22 approved projects with private match of $4.7MM to the County’s investment of $673k

• Workforce Training and Career Pathways – Manufacturing Alliance, youth internships and community-based trainings for skill building and advancement

• Nearly 15,000 touch points and 2,705 consulting hours to entrepreneurs/small businesses• Disadvantaged Business Inclusion – more than $60MM spent with MBE/SBE firms, 18% goal

attained

• Removing blight and reversing declining property values in our Redevelopment areas (University Area, North Airport Area, 56th Street Area and Palm River Area) – “broken window theory” in action to deter crime and vandalism

• Historic Preservation maintaining the authentic character of the community – 15 projects approved, valued at 11.3MM in investment

• Revitalizing industrial and commercial properties through private investment matching grant program, increasing ad valorem revenue, $8.5MM in new projects 2

Success Stories

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• North Airport Redevelopment Area-Vacant for 10 years

• County invested $368k in a $8.6MM project

• Assessed value increased in one year from $3.7MM to $13.4MM

• Ad Valorem revenue increased by $180k annually

• Now home to six companies with nearly 100 jobs

• Removed blighted conditions

Jetview Logistics Center Redevelopment

Before

After

Maria Leon – Onyx Cleaning LLC

• No cost business consulting provided by the FSBDC at Hillsborough County made Maria’s business concept a reality

• Working with the County team:

• Received contracts totaling nearly $6MM

• Created 30 full-time jobs and 10 part-time jobs in the last 3 years with a 90% retention rate

• Obtained a $24,000-business loan

• Certified MBE and SBE

Maria Leon (second from right), Janette Blanco, Hillsborough

County SBDC Consultant (second from left) and some of Maria’s

team

Key Sustainability & Performance Metrics

• Small Business

• Targeted industries

• Tourism Development

• 2019 provided 2,705 consulting hours to entrepreneurs (49% - existing established businesses and 51% - new businesses/pre-venture), 22 post-revenue, small business starts and had 37,151 technical assistance points of service at an average cost of $75.62

4

• 2019 impacted 2,686 job and workforce opportunities, and $161MM in new private capital investment. Average cost of per unit was $979.40. Average wage of targeted industry projects receiving assistance $62,680

• 2019 generated 6.1MM room nights and $35.4MM in TDT collections. Hotel occupancy rates averaged 74% and revenue per night was $90.71. Average cost of per unit was $0.07.