TITLE
The Mayor and City Council shall hear presentation from the Greater Phoenix Economic Council and possibly take action to approve an updated agreement between the Greater Phoenix Economic Council and the City of Maricopa, in the amount of $25,853 to be paid from the Fiscal Year 2013-14 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 22 member communities and over 160 private-sector investors to attract quality businesses to the Greater Phoenix Region from around the world, and advocate and champion foundational effects to improve the region's competitiveness. As an independent 501c3 non-profit corporation, GPEC receives approximately 40 percent of funding from the public sector and 60 percent the private sector; public sector funding is based on population. The City of Maricopa contract amount of $25,853.00 is calculated by utilizing a per capita rate of $.5752, based upon the 2012 Office of Employment and Population Statistics, Arizona Department of Administration population estimate, which listed the City as having a population of 44,946.
Between July 1, 2012 and May 8 of 2013, GPEC has assisted 23 locates, creating 3,848 jobs, $378M in capital investment, and $154M in new payroll while absorbing 3.04M square feet of commercial space in its service area.
In addition to satisfying the Scope of Services in the 2012/13 agreement, Maricopa's work with GPEC and benefit from partnership in the past year has been significant:
1. Maricopa 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; one submittal in 2013 resulted in a company site visit courtesy of GPEC which is still evaluating the Maricopa market
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 members were present at various trade shows to assist Maricopa representatives and work in partnership with them; at the BIO International trade show in Chicago, IL staff was able to maximize time in the market to not only attend the trade show but accompany GPEC on visits national brokerage firm offices and share information on Maricopa with their decision makers and site selectors
5. GPEC staff has supported Maricopa's economic development efforts by offering technical assistance, time, and expertise throughout the year on internally generated business attraction projects
As a benefit of our partnership with GPEC, the City of Maricopa 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 if purchased independently.
This item will be presented by Economic Development Director Micah Miranda.
STAFF RECOMMENDATION
Staff recommends Mayor and City Countil hear a presentation and approve an updated agreement between the Greater Phoenix Economic Council and the City of Maricopa