2013 Mid-Year Report PDF - Growth Alliance for Greater Evansville

2013
MID-YEAR REPORT
A true public private partnership, the Growth Alliance for Greater Evansville was created in
early 2007 because government and business representatives were searching for a
comprehensive focused approach to economic development. The Growth Alliance provides
support for strategic programs that enhance the overall economic vitality of this area. It is our
goal to bring a significant number of jobs and new revenue dollars to Evansville and
Vanderburgh County.
OUR MISSION
To drive and support economic development activities for Evansville and
Vanderburgh County aimed at: attracting and creating new jobs and new revenue
dollars, retaining existing jobs and revenue dollars, effectively allocating available
resources and recognizing the priorities of basic/Tier 1 industries in driving
sustainable growth.
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93 Request for Assistance, YTD 2013
Requests by Industry
Transportation & Utility
7
Retail. Trade & Commercial
4
Professional & Business Services
5
Other Services
Natural & Resource Mining
16
Manufacturing
Leisure & Hospitality
7
42
Information
Government
Financial Activities
Education & Health Services
Construction
Requests by Category, YTD 2013
16
24
Non-Basic (Tier 2/3) Startup / Incubation
Non-Basic (Tier 2/3) New to Area
Non-Basic (Tier 2/3) Business Retention & Expansion
Basic (Tier 1) Startup / Incubation
6
33
4
8
Basic (Tier 1) New to Area
Basic (Tier 1) Business Retention & Expansion
The Growth Alliance defines Tier 1 requests as those related to enterprises that could grow to
have >50% of the revenues coming from outside Evansville/Vanderburgh County.
Tier 2 enterprises are suppliers to and depend on Tier 1 customers.
Tier 3 enterprises are commercial retail and professional services providers that sell to local
customers.
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BUSINESS ATTRACTION
Business Attraction
The Growth Alliance’s business attraction efforts are fueled by leads that come from many
sources; from the Indiana Economic Development Corporation, from the Economic
Development Coalition, from Direct Call/Contact, from local Real Estate Professionals, and from
self-generated leads that are the result of targeted marketing efforts. Each project is unique
and every effort is made to understand what and who drives the selection of a community for
the project. Manufacturing projects are most common, but information, customer service and
financial service leads are becoming more frequent.
Trends include an increase in lease rather than purchase requirements, even for manufacturing
projects. The vast majority of project leads call for an existing building rather than land for
construction. Evansville/Vanderburgh County lacks an available inventory of high ceiling, wide
bay manufacturing facilities in the popular 100,000 to 150,000 SF size range. The Growth
Alliance is therefore working with the Vanderburgh County Commission and Evansville
Industrial Foundation to develop a shell building project that will allow us to actively pursue
more manufacturing project leads.
The availability of a skilled workforce remains the number one priority of most projects that
consider Evansville/Vanderburgh County. Increasingly, project principals are looking for specific
demonstration of maintenance skills for advanced manufacturing equipment.
DYWIDAG-SYSTEMS
INTERNATIONAL
DSI
Project Type: Attraction
Location: Vanderburgh Industrial Park
Number of New Jobs: 44
Project Date: April 24, 2013
DSI Underground Systems is a global market leader in the design, development, production and
supply of underground products and systems. Located in over 95 countries and totaling more
than 2,100 employees worldwide.
During the last years, DSI has strategically expanded its Underground Business Sector. Their
new steel fabrication plant/distribution center in northern Vanderburgh County will produce
and provide ground control products to the underground mining industry, focusing on
southwest Indiana, southern Illinois, and western Kentucky.
DSI Underground Systems will create 44 new jobs in Vanderburgh County with an average wage
of $22.50 per hour. The economic impact on the community resulting from the new jobs and
investment will total in excess of $95 million over the next 10 years.
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BUSINESS RETENTION & EXPANSION
Business Retention & Expansion
Business Retention and Expansion (often simply called BR&E) includes all efforts to encourage
the survival and growth of a community’s existing businesses.
Examples of the support for BR&E that the Growth Alliance could provide or help secure:
•
Tax abatement on new investment
•
Technology Transfer opportunities with federal labs
•
Permitting and licensing guidance
•
Networking to potential suppliers and/or customers
•
Grant and loan funding opportunities
•
Technical training for new employees
•
Product process development; technical resources, facilities, etc.
Activities YTD
Number of business attraction site visits with Site Selectors: 5
Number of existing industry site visits (BR&E): 12
Coordinated 2 “windshield tours” with local real estate professionals to become familiar with
commercial buildings and properties in the City of Evansville and Vanderburgh County
BUSINESS INCUBATION
Innovation Pointe
Innovation Pointe is a high-tech business incubator managed by the Growth Alliance for
Greater Evansville. Located in the heart of Downtown Evansville, Innovation Pointe assists in the
creation and growth of new businesses in the Evansville area to increase the overall wealth of
our city and people.
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The Growth Alliance has assisted 20 potential Innovation Pointe clients in 2013.
This year, 4 new clients moved into office space at Innovation Pointe
Innovation Pointe is occupied by a total of 32 clients, including the Growth Alliance for
Greater Evansville
Innovation Pointe houses approximately 166 employees in Downtown Evansville
Only 2 offices remain vacant at this time, making Innovation Pointe 99% occupied.
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BUSINESS INCUBATION
New Innovation Pointe Clients
Vidal Plastics, LLC- Suite 506 (Start-Up Company)
Vidal Plastics, LLC sells a wide range of resins, from prime raw materials to recycled compounds
and will be certified as a minority-owned enterprise (MBE). Alfonso Vidal started started this
company which currently employs four people.
Mario Lomaglio - Suite 207 (Start-Up Company)
Mario Lomaglio started a business that involves working with the Italian community in foreign
countries as a consultant with issues regarding citizenship, government communication, etc.
Exergy Resources - Suite 206 (Business Attraction)
Exergy Resources is a small business based out of the East Coast dealing in trading/oil business,
buying and selling, and using high technology transport product.
Envolve Engineering – Suite 502 (Start-Up Company)
Envolve Engineering is Evansville’s newest design engineering firm specializing in: 3D component
modeling and print detailing, plastic part design (injection mold, extrusion, thermoforming and
specialty molding), metal part design (sheet metal, die casting, powdered metal & other),
electromechanical and electronic assemblies (solenoids, motors, controllers & wiring),
software and control algorithm development
Growing Clients
SS&C Technologies – 3rd Floor (Existing Business/ New to Area in 2011)
SS&C is a leading provider of investment management, software, financial services and
outsourcing services. They currently have 75 employees at Innovation Pointe. SS&C plans to add
another 6 positions at Innovation Pointe this year, for a total of 81 employees.
Mid-Year 2013 Projects
# of
Jobs
Annual
Economic Impact
DSI Underground
44
$9.5 Million
Attraction
$1.3 M capital Investment
Envolve Engineering
25
$4.0 Million
Incubation
Other Start-ups
6
$0.2 Million
Incubation
Company
5
Project Type
INNOVATION & ENTREPRENEURSHIP
Business Innovation
In 2012, 300 out of every 100,000 adults were involved in business creation. According to the
Bureau of Labor Statistics; in the last two decades, about 60 percent of the private sector’s net
new jobs have been created by existing establishments and about 40 percent from the churn of
startups minus closures.
The Growth Alliance mentors and provides networking services to a variety of local innovators
and entrepreneurs. The Growth Alliance also leads or participates in a number of initiatives
aimed at developing an entrepreneurial ecosystem that supports the launch of technologybased businesses and the development and commercialization of products and processes that
apply technological advances.
I69 Innovation Corridor Initiative
The Growth Alliance is a member of the Executive Committee for the I69 Innovation
Corridor Initiative being led by USI’s Division of Outreach and Engagement, and also chairs
the Innovation & Entrepreneur Networks Task Force for this initiative. The I69 Corridor
Initiative has pulled together over 200 government, academic, business, industry and
economic development leaders from across southwest Indiana to look at long-range
planning to improve the innovation index along the corridor and promote transformational,
technology-based economic development.
Innovation & Entrepreneur Task Force
The Innovation & Entrepreneur Task Force is investigating the networking needs of regional
innovators and entrepreneurs to support new product commercialization and technologybased business startups.
• A Facebook page is being developed to share information on events and spaces for
entrepreneurs from along the corridor and training and development needs of
regional entrepreneurs are being identified. The Growth Alliance has applied for a
USDA grant that, if awarded, would suport this activity.
• Technical domains of focus are being considered to help develop technical mentor
networks of experts who can help innovators assess the technical feasibility and
manufacturability of their ideas.
• One domain of opportunity is Optic & Photonics. The Growth Alliance is working
with the Mid-America Science Park, Westgate Academy at Crane, and USI to
evaluate the feasibility and possible value of a Southern Indiana industry cluster with
Centers of Excellence for optics and photonics.
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INNOVATION & ENTREPRENEURSHIP
Technology Commercialization Academy
The University of Southern Indiana conducted its second Technology Commercialization
Academy (TCA), with teams of business and engineering students working full time for 5
weeks on developing and testing commercial ideas based on NSWC Crane patents. A
continuation session of the TCA had students take the most promising ideas further with
market assessment, early prototyping and commercialization plans. The Growth Alliance
sponsored team-building activities and provided mentoring services to the student group.
KAUFFMAN FastTrac NewVenture
The Growth Alliance is now certified to provide the Kauffman FastTrac NewVenture program
for entrepreneurs in the process of startup, in addition to GrowthVenture for existing
businesses interested in developing strategic growth plans. Another session of Growth Venture
was completed, bringing the total number of local business owners completing the program to
46. The Growth Alliance is soliciting sponsors for scholarships to offer New Venture to
promising startups.
Tech on Tap
Tech on Tap started one year ago providing a monthly networking event for business founders,
funders and facilitators. There are 237 registered members for Tech on Tap through
www.meetup.com. Anyone interested in the event is welcome to join and membership is free.
Co-Working Spaces
Recently, Tech on Tap attendees came together to look at co-working space needs for local
entrepreneurs. The successful Developer Town/Speakeasy in Indianapolis and Launch Fishers
models have also been studied. The vision is for a co-working space in Downtown Evansville
where innovators can collaborate and develop their business ideas. This is open concept space
with membership dues rather than private office space. Innovation Pointe is 99% occupied at
this time, so the Growth Alliance is seeking an alternate location to start-up a co-working space.
Pitch Practice Events
Nearly 20 local investors and entrepreneurs have used Pitch Practice events to learn about the
elements of a successful pitch and to practice getting valuable feedback from experts and
business mentors. One of the attendees at the first Growth Alliance Pitch Practice and a regular
Tech on Tap attendee is the founder of Curvo, a new company started here in Evansville. Curvo
recently pitched at the Innovation Showcase in Indianapolis and received a $50,000 seed
investment from Elevate Ventures.
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DOWNTOWN COMMERCIALIZATION
Downtown Development
The Growth Alliance works to support the City of Evansville’s redevelopment plan to produce a
vital Downtown that attracts business. So far in 2013:
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The Growth Alliance has assisted six businesses with inquiries regarding start-up or
relocation space in Downtown Evansville.
•
Seven businesses within the Downtown Redevelopment area were assisted through the
Downtown Design Review process.
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Lieberman Technologies partnered with the Growth Alliance to create a new Downtown
Walking Map app that is now available for Download on the Google Play store and
iTunes.
•
The Devour Downtown facebook page and @DowntownEvv twitter accounts are
updated and maintained on a daily basis.
•
The 2013 Vanderburgh County Farm Bureau Farmers’ Market is underway with recordbreaking attendance numbers once again. The market is hosted every Friday from 8:00
a.m. – 1:00 p.m. with the season ending on September 27, 2013.
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Once again the Growth Alliance hosted the 4th of July fireworks display in Downtown
Evansville. Special thanks to Toyota Motor Manufacturing Indiana and Tropicana
Evansville for sponsoring the 2013 display.
Walking Map App
Available through the
Google Play Store and
iTunes
facebook.com/devourdowntownevansville
Twitter: @DowntownEvv
Design Review Process
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2013 Investors
Special Thanks!
City of Evansville
Vanderburgh County
Vectren Corporation
Old National Bank
Berry Plastics
Anonymous Donor
Fifth Third Bank
Philip A Schnautz, CPA
Peyronnin Family Foundation
SealCorp USA
Woodward Commercial Realty
CGM Computers
EVV Airport Authority
Anonymous Donor
INNOVATION POINTE &
TECHNOLOGY TRANSFER PARTNER
University of Southern Indiana
GLOBALIZATION PARTNER
University of Evansville
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JULY 4TH EVENT SPONSORS
Toyota Motor Manufacturing Indiana
Tropicana Evansville
Mulzer Crushed Stone
Dunn Hospitality
104.1 WIKY Radio