Business Update June 2024
Executive Summary
This update covers the last two fiscal years beginning July 2022, ending June 2024. The Visalia Economic Development Corporation (VEDC) has been working through a Service Agreement with the City of Visalia that was executed by both parties near the end of June 2022.
The VEDC Executive Director works in close partnership with the City of Visalia Economic Development Manager, Devon Jones, and through a Professional Services Contract with the Workforce Investment Board of Tulare County (WIB), utilizing Business Resource Specialist and Marketing Teams.
The Executive Director reports to the VEDC Board of Directors and is responsible for all facets of the day to day operations of the organization, including conducting proactive meetings with businesses to offer resources and assistance to help retain those businesses, conducting monthly Industrial Roundtable meetings, coordinating job fairs in the Visalia Industrial Park, marketing Visalia as an exceptional place to do business, promoting the quality of life in the City and surrounding areas.
Below are some of the many activities that the VEDC was involved in or was instrumental in during the last two fiscal years. We hope that the City of Visalia continues to find value in their investment in the VEDC.
Fiscal Management
The VEDC is in a sound, sustainable financial position. The financials are reviewed monthly at the Board Meeting. The Professional Services Contract with the WIB costs $40,000 annually.
Total Liabilities & Equity for year ending June 30, 2023, = $194,610.72, with net income = $22,254.89 Total Liabilities & Equity Year-to-date through April 2024, = $222,005.30 with net income = $27,394.58 Business Visitations
Thirty-seven total business visitations were completed in 2022-2023.
Twenty-four total business visitations have been completed year-to-date in 2023-2024.
All data obtained during these visits have been entered into the CRM software known as HubSpot.
Follow ups have been conducted by the WIB, City Staff, and VEDC Executive Director, to ensure the businesses are getting the help and the resources they need.
Businesses are introduced to VEDC Membership and provided an Industrial Park Directory as an aide to help with local business to business opportunities.
Industrial Park Job Fairs
Five Industrial Park Job Fairs have been held during the last two years with ninety-seven employers and 1,727 job seekers having face to face interaction, with positive reviews received.
The WIB team organizes and facilitates the Job Fairs and provides staff for support.
A sixth Industrial Park Job Fair is scheduled for June 26, 2024.
Industrial Park Business Directory
A new Industrial Park Directory was compiled with the help of a Visalia Unified School District Intern.
Five hundred copies have been distributed to businesses, mostly in the Industrial Park. This version also included all VEDC members as an extra benefit of membership.
Advertising in the directory was hugely successful and a profit of $9,700 was realized.
A new “2025” directory will be published this fall.
Advertising & Marketing
Four new videos were produced by Zach Green films and added to our website:
About Visalia – Businesses Thrive in Visalia
About VEDC
Visalia Skilled Workforce – Testimonials from employers Training Resources – featuring five Industrial Park Training Centers and Schools Sponsorship of the Tulare County Economic Summit with ads in their program.
Five hundred businesses targeted in the Applied Development Economics study were connected to VEDC via social media platforms Facebook and LinkedIn, utilizing a Visalia Unified School District intern to make the connections.
The VEDC Executive Committee approved a new logo for VEDC, which was done at no cost to the organization. An offer to do the logo pro-bono was accepted from Red Chair Marketing, a local Visalia graphics design firm. The new logo has been well received by all.
New website design.
Our Marketing partners at the WIB have transformed our website utilizing the new logo and colors along with major updates to some of the factual data on the site.
College of Sequoias Scholarship Program
The VEDC Board of Directors approved a budget of $5,000.00 to be offered to College of Sequoias Training Resource Center students after they complete a comprehensive application as to why they feel they should receive the award and how it may impact their education and career.
The VEDC Executive Committee reviews all applications and determines the amount of the award.
Ten scholarships were awarded to seven different applicants totaling $2,961.00.
Community Involvement
The Executive Director stays connected with our education partners through participation on several Board and Advisory committees.
South Valley Industrial Collaborative – (SVIC)-Secretary /Treasurer Tulare Kings College and Career Collaborative (TKCCC) – Advisory Board San Joaquin Valley College Advisory Board
Golden West High School Business & Finance Linked Learning Academy Advisory Participated in the Visalia Unified School District One Visalia Connect Task Force Visalia Partners in Education – Executive Committee
Attending monthly Tulare Economic Development Corporations Board Meetings Attended TCEDC Regional Economic Summit for the past two years.
Attended the San Joaquin Valley Manufacturing Alliance “Valley Made” Summit for the past two years.
Attended the recent GoBIZ Conversation with Dee Dee Myers at the Tulare Ag Center.
Attended the WIB hosted Central Valley Workforce Summit the past two years.
Toured Assembly Member Vince Wong through the Visalia Industrial Park.
Toured College of Sequoias “Jump Start” students on bus through the Industrial Park. Scheduled again for June 2024.
Other
Involved in discussions with VEDC Executive Committee and Board regarding the possibility of establishing a PBID in the Visalia Industrial Park.
Invited Steve Nelsen of the Downtown Visalians to share his experience with our Board of Directors.
Contacted the consultant and received an estimated cost to have them help us with the process, currently on hold pending further discussions.
The Tulare County Office of Education site at Doe Avenue and Shirk Road in the Visalia Industrial Park will be vacated in two to three years. The VEDC and City staff have had conversations with TCOE management regarding uses of the site to benefit the Industrial Park, such as live training environments and subsidized day care for employees’ children. The PBID is one avenue to look at to fund lease payments for the facilities.
HR Roundtable Meetings
Five meetings have been held with small numbers of HR managers from the Industrial Park.
We intend to continue with this means of getting the HR managers together to share what challenges and successes they are seeing in their operations.
Flock License Plate Reader Cameras
The Board of Directors has approved the purchase of four Flock Falcon license plate reader cameras to be installed in the Visalia industrial Park.
The VEDC will coordinate with the Visalia Police Department as to the optimum locations for these installations.
We heard from many businesses during the last two years about thefts and break-ins. We believe these cameras may help to curb the number of incidents being reported and may be a deterrent going forward.