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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 $26,540.00, 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 22 member communities and over 170 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 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 $26,540.00 is calculated by utilizing a per capita rate of $.5752, based upon the 2013 Office of Employment and Population Statistics, Arizona Department of Administration population estimate, which listed the City as having a population of 46,140.
Between July 1, 2013 and June 3, 2014, GPEC has assisted 26 locates, creating 3,325 jobs, $147.9M in new payroll, $1,758.5M of capital investment while absorbing over 2.8M square feet of commercial space in its service area.
In addition to satisfying the Scope of Services in the Fiscal Year (FY) 2013-14 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; one submittal in 2014 resulted in a company site visit courtesy of GPEC
2. Staff participated on a monthly basis in the GPEC ...
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