EDAB 03/19/2013 Minutes - Laserfiche WebLink

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Casselberry Economic Development Advisory Board Minutes of March 19, 2013 Meeting Page 2 Presentation: "The Casselberry Business Community' Statistics and Analytical Breakdown" Mr. Kyle Dudgeon, Economic Development Planner, reviewed Information provided in a PowerPoint presentation regarding the types of businesses that are in the City. A copy of the PowerPoint presentation is attached and made a part of the minutes. A discussion ensued relative to the number of manufacturing businesses in the City. The Board felt that manufacturing may be a sector for growth. They were curious if a manufacturing incubator was established and questioned whether or not that should be something the City should research. Ms. Pamela Lynch, Economic Development Coordinator, said that the City is continuing its efforts relative to an incubator. She stated a major issue in creating an incubator is that it requires a significant annual financial commitment. She explained that City staff has spoken with Seminole State College, Grow Florida, and the University of Central Florida regarding incubator start -up. She said that incubated businesses have a very high retention rate and tend to stay in the local area after they graduate. The Board stated that many larger manufacturing firms are looking for qualified tradesmen. They additionally stated one top economic driver is to build your own base. A short conversation ensued which centered on the relationship between vacant space and business types in the City. City staff was directed to cross reference data in the presentation to see if there was an abundance of vacant space for a particular industry. Review Purpose and Procedure Ms. Pamela Lynch, Economic Development Coordinator, gave an overview of the Board's responsibilities. She stated that the main focus of the Board is to provide recommendations to the City to improve local economic conditions. Ms. Lynch said their suggestions go to the City Manager which are in turn relayed to the City Commission. She stated that a formal memorandum will also be produced and provided to the City Manager with recommendations the Board feels the City Commissions needs to review. Ms. Lynch additionally stated that she had received a suggestion to review SunRail as a topic for the next meeting.