FY 2024 Economic Development Department Budget Presentation Economic Development Department
Mission Statement
The mission of the Economic Development Department is to support inclusive economic development by increasing investment in Fresno in a way that contributes to the growth of the City's economy and tax base, fosters diversity and fiscal sustainability, expands job opportunities for ALL residents and enhances the City's sense of place and quality of life.
This effort is sustained by the Department's overall goal to attract, retain and grow businesses in Fresno.
2 Economic Development Department
Organization Chart
Economic
Development
Director
Business
Attraction
Business
Retention and
Expansion
Small Business
Startup and
Support
Data Management
Analytics and
Marketing
Finance and
Administration
3 Economic Development Department
FY 2023 Accomplishments
• Five (5) projects completed creating 164 new jobs and an economic impact of over $21 million. • This includes one local manufacturer who secured $1.2 million in Cal Competes Tax Credits from the State. • Provided more than $2 million in direct support and technical assistance to City of Fresno businesses. • Business Attraction: Working with 67+ new businesses looking to potentially locate their operations in Fresno.
• Potential economic impact of over $620 million
• More than 3,600 new jobs
• Business Retention and Expansion: Assisted 16+ local businesses to remain in operation in Fresno. • 931 jobs
• $40,241,312 in tax revenue
• $324,922,446 in overall economic impact
4 Appropriation Type FY 2021
Actuals
FY2022
Actuals
FY 2023
Amended
FY 2024
Proposed
Personnel $358,160 $704,942 $881,400 $1,086,500
Non-Personnel $672,160 $2,400,921 $3,513,200 $693,700
Interdepartmental $65,644 $80,445 $147,600 $128,100
Total Department Expenditures $1,095,964 $3,186,308 $4,542,200 $1,908,300 Economic Development Department
FY 2024 Total Budget
Notes
• EEMI-$70,000 Grant Program Period Ended in FY23.
• Northpointe Community Benefit Fund-$300,300 moved out of Econ Dev. • $2.5 million in one-time ARPA Funded Small Business Programs. 5 Position Type FY 2022
Adopted
FY 2023
Adopted
FY 2023
Amended
FY 2024
Changes
2024
Proposed
Economic Development 7.50 8.00 8.00 0.00 8.00
Total 7.50 8.00 8.00 0.00 8.00
Economic Development Department
FY 2024 # of Budgeted Positions
6 Notes
• No Additional Positions
Non-Position Type Budget 2024
Proposed
Contractual Obligations $355,000
Training $20,000
Conferences/Travel $105,000
Marketing $85,000
Economic Development Department
FY 2024 Budget - Most Impactful Items
Notes
1. Contractual Obligations includes $175,000
for a contract with the Fresno County
Economic Development Corporation, and
$180,000 for the Fresno Chamber's MADE
Conference.
2. Training includes $20,000 for Economic
Development training through CSU-
Fresno/CALED, IEDC training, and other
opportunities.
3. Conferences/Travel includes ICSC RECon,
MD&M West, Select USA, ICSC Monterey,
World Ag Expo, CALED Annual
Conference, and the IEDC Annual
Conference.
7 Economic Development Department
Community Outreach
Anticipated Community Outreach:
• Comprehensive Economic Development Strategy-Community Meetings Citywide
• Includes developing a community stakeholder group to provide insight and SWOT analysis; and,
• A listing and prioritization of capital projects that would qualify for Economic Development Administration infrastructure funding.
8 QUESTIONS