Broward County Commission Regular Meeting
Director's Name: Sandy-Michael McDonald
Department: Economic and Small Business Development
Information
Requested Action
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MOTION TO APPROVE Greater Fort Lauderdale Alliance (hereinafter referred to as “The Alliance”) Fiscal Year 2020 quarterly performance report, for the period April 1, 2020 through July 31, 2020, pursuant to the Agreement between Broward County and the Alliance.
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Why Action is Necessary
Pursuant to the County’s agreement with the Alliance, the Alliance must submit to the Office of Economic and Small Business Development, quarterly performance reports for Board acceptance.
What Action Accomplishes
The Alliance's submission and the Board of County Commissioners' acceptance of the quarterly performance reports will satisfy compliance with the terms of the Agreement between the parties.
Is this Action Goal Related
Yes
Previous Action Taken
None.
Summary Explanation/Background
THE OFFICE OF ECONOMIC AND SMALL BUSINESS DEVELOPMENT RECOMMENDS APPROVAL OF THE ABOVE MOTION.
This motion supports the Board of County Commissioners' Vision of “A vibrant economy with a diverse, skilled workforce, in a County offering unique advantages that attract all types of businesses to create equitable, countywide prosperity.”, Value A: “Ensuring economic opportunities for Broward’s diverse population and businesses,” Goal 1: “Attract and retain all types of business, especially high-wage industries that offer employee benefits, through partnerships with the Alliance, chambers of commerce, colleges and universities, CareerSource, and any other available avenues."
The Office of Economic and Small Business Development (hereinafter referred to as “OESBD”) reviewed the Fiscal Year 2020 Alliance Quarterly Performance Report (Exhibit 1). The quarterly report has been summarized to highlight the Alliance’s achievements for the third quarter of Fiscal Year 2020 (Exhibit 1, page 3 of 18). The quarterly report demonstrates the achievement of 57% of the Alliance’s overall quarterly goals, with notable achievements in media value generated; direct capital investment of $321.1 million and 927 retained jobs. The Alliance has exceeded the annual goal for overall capital investment for Fiscal Year 2020.
As reported by the Alliance, goal attainment in some areas were affected due to the COVID-19 crisis. Regarding the number of domestic and international leads, the Alliance reports that companies are delaying or rethinking their relocation and expansion plans due to the COVID-19 crisis. The Alliance reports the COVID-19 crisis has also affected the average projects in the pipeline and number of announced projects as companies have started delaying their relocation and expansion plans. The Alliance indicates that staff will continue to focus on this goal to meet the objectives by the end of the year, depending on the economic outcome of the crisis. The Alliance goal for business retention and expansion is to conduct 180 corporate visits in FY 2020, or 45 per quarter. The Alliance conducted a total of 259 visits during the third quarter of FY 2020, which represents 575% goal attainment. The Alliance was able to achieve this outcome through the use of virtual visits. Alliance staff is focusing on this important objective through proactive outreach to local companies, and with additional visits planned for the next quarters. This goal has been far exceeded for the year.
OESBD has reviewed the quarterly report and accepts the Alliance response relating to performance activities including its three departments: Business Development, Investor Relations, and Business Intelligence functions. The Alliance has achieved a majority of its quarterly goals.
Source of Additional Information
Steven Tinsley, Economic Development Manager, OESBD, (954) 357-8075
Fiscal Impact
Fiscal Impact/Cost Summary
None.