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2017 Mid-Year Report

Prospect activity is the biggest news of the first six months of this fiscal year. Companies have raised the level of considered activity to the highest level since KEDC’s inception. During this period, KEDC engaged significantly with 39 different projects. We attribute the increase in activity to more personal recruitment programs and the expansion of relevant property.
 
Successful leads continue to be developed internally as shown in the chart below. In addition to the full recognized project load, a full 68% of new and actionable leads were developed internally.  KEDC staff cultivated 44 leads, of which 28 of which were actionable.  Lack of a rail site was the leading reason KEDC was unable to respond.
 
Lead development is consistent with previous years and resulted in one new economic development performance agreement and one economic development lease. 
 
Leads developed
Time period
Percent of leads developed internally
51
2015-2016 Mid-Year
67%
55
2014-2015 Mid-Year
60%
53
2013-2014 Mid-Year
49%
104
2012-2013
35%
760
To date
13%
 
Results
KEDC board of directors approved one Economic Development Performance Agreement and one Economic Development lease.
·         The Economic Development Performance Agreement:
o    18 new jobs.
o    20 retained jobs.
o    $8.07 million investment.
·         The ED Lease:
o    10 new jobs.
o    $3 million investment.
Incentives for the two economic development efforts together averaged a 29.25 rate of return and payback period of 3.85 years.
 
For the complete report, click HERE.