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Welcome to the inaugural edition of the EDC's 2009 Economic Update. Considering our current economic climate, we feel it is imperative to keep EDC investors and community stakeholders as current as possible with regard to economic recovery efforts.
This electronic issue will include the first Quarterly Report of the 2008-2009 fiscal year. It is VERY encouraging to see some positive news!
If you have any questions, please feel free to contact us at any time.
Best Regards,
Pete Tesch
President/CEO
Through the first quarter of the final year of our five year strategic plan, the number of projected jobs created at the 115% -120% rate is 1,909 (65% of goal), creating $165.6 million in capital investment (95% of goal) and $83.7 million in new payroll (101% of goal).
During the 2008/2009 first quarter, the EDC assisted companies that projected the creation of 305 new jobs. 305 of these jobs qualify at the targeted range of 115-120% above the average earnings per worker. To learn more about these projects, click here.
During the 2008/2009 first quarter, the Existing Industry Program yielded 4 company visits. The majority of staff time was dedicated to assisting the companies that created 305 new jobs for our community. Learn more about EDC services, and state and local investment programs!
In the first quarter, the Stratecation Campaign netted one visit from a small Canadian retail distributor interested in Ocala as a possible hub. Visit our Stratecation Web site!
The Stay Strong Five Part Seminar Series has been completed with attendance averaging in the 60’s. Survey results show a high level of success with a 91% overall approval rating.
The “Raising the Bar” Initiative created a series of recommendations with action steps that have been incorporated into the 2008/2009 EDC Strategic Plan draft which will be presented to the Board of Directors on January 14th. To view a condensed version of the Case Statement and Recommendations, click here.
The Economic Growth Summit held on October 29, 2008 convened nearly 100 business executives, community leaders and elected officials who discussed and activated twelve recommendations to help stimulate growth in our economy. These recommendations are woven into the 2008/2009 EDC Strategic Plan to assist with the economic recovery effort underway.
Click here to view the video summary from the EDC Homepage.
Governor Crist is proposing a $10 million Small Business Stimulus Package. Read about it on the EDC Blog and let us know what you think. Could it help your business?
The EDC’s 2007/2008 Annual Report is now available! Click here to view or download.
MTI has a current enrollment of 364 students. 44 have been placed in paid internships in field. 15 had jobs in field and 57 had jobs out of field. 232 are working toward becoming eligible for paid internships. 312 certifications have been awarded to MTI students to date. Learn more about MTI online!
The EDC currently has 140 investors with the addition of 4 new investors ($15,300) in the first quarter, raising the current pledge amount of the Lead The Way Campaign to $2,450,716 over five years. $1,911,630.58 has been collected to date. Visit our Investors page to see what companies are partnering to support economic recovery! Contact Ann Spang if you would like to refer someone to become an investor in our local economic solution.
Marion County experienced an unemployment rate of 9.7% for November 2008, up from 5.2% a year ago. According to the Florida Agency for Workforce Innovation (AWI), Marion County’s current labor force stands at 140,597 with 13,627 unemployed.
This Economic Update has been developed to meet the communication needs expressed by our investors. The EDC has been asked to provide quick, easy-to-read highlights, with further details just a click away.The Economic Update is the new tool for delivering the Quarterly Report, and other relevent economic updates. Let us know what you think!
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