TITLE
The Mayor and City Council shall discuss and possibly take action to approve an updated agreement between the Greater Phoenix Economic Council and the City of Maricopa, in an amount not to exceed $29,740.00, and will be funded from General Fund, Economic Development, Membership and Dues (10011616-55510). Discussion and Action.
AGENDA ITEM DESCRIPTION
This contract represents an ongoing relationship with as well as service delivery from the Greater Phoenix Economic Council (GPEC).
GPEC works in partnership with 23 member communities and over 170 private-sector investors to attract and grow quality businesses and advocate for economic competitiveness in the region. As an independent 501(c)(3) non-profit corporation, GPEC receives approximately 40 percent of funding from the public sector and 60 percent from the private sector; public sector funding is based on population. The City of Maricopa (City) contract amount of $29,740.00.00 is calculated by utilizing a per capita rate of $0.6002, based upon the 2017 Office of Economic Opportunity population estimate, which listed the City as having a population of 49,550.
In addition to satisfying the Scope of Services in the Fiscal Year (FY) 2017-18 agreement, the City's work with GPEC and benefit from partnership in the past year has been significant:
1. The City had the opportunity to respond, along with all other member communities, to all GPEC prospect inquiries generated that we could satisfy minimum site requirements for.
2. Staff participated on a monthly basis in the GPEC Economic Development Directors Team meetings; these meetings are designed to provide educational opportunities, discussion forums for timely topics, and debriefs of prospect activities and GPEC initiatives
3. Staff was able to participate in numerous beneficial events facilitated by GPEC allowing for exposure to key corporate leaders in the Valley and greater information and understanding of influential projects
4. GPEC staff has supported the City's economic development efforts by offering technical assistance, time and expertise throughout the year by providing research data on employment trends
5. As a benefit of our partnership with GPEC, the City also receives a user license with CoStar, a national real estate listings and analytics database which is a critical data tool for the City's economic development efforts and would cost the City over $5,000 to purchase independently
FY18 - 19 Action Items
1. Attract more scalable enterprises in advanced industries.
2. Brand the region as a location of choice for FDI.
3. Refine the consultative model with a focus on specialized expertise and knowledge.
4. Develop and deploy a regional market intelligence system.
5. Engage state and federal policymakers on new economic development competitiveness concepts.
6. Advocate for workforce development initiatives to support the growth of advanced industries
This item will be presented by Denyse Airheart, Economic Development Director.
STAFF RECOMMENDATION
Staff recommends the Mayor and City Council approve an updated agreement between the Greater Phoenix Economic Council and the City of Maricopa, in an amount not to exceed $29,740.00, and will be funded from General Fund, Economic Development, Membership and Dues (10011616-55510).