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Economic Development Corp. reports $38 million in secured private capital, outlines site readiness and workforce efforts
Summary
The Okeechobee County Economic Development Corporation told commissioners it has 34 active business prospects, seven pending leases at Airport Commerce Park, an interactive industrial-site map and programs to improve local workforce skills; staff said the county's $22,000 allocation is leveraging tens of millions in private investment.
The Okeechobee County Economic Development Corporation (EDC) presented its quarterly update to the county commission, describing recruitment activity, site-preparation work, and workforce and existing-business programs that EDC leaders said are producing measurable private investment and job gains.
Kaylee King, EDC president, said the nonprofit — a 501(c)(6) that receives a county allocation — tracks 34 active business prospects and has about seven pending leases at the county Airport Commerce Park. King said the EDC has adopted an interactive map of industrial areas of interest to speed site pitches and showed commissioners a pipeline that the EDC uses when responding to RFIs (requests for information).
The EDC described a "BR&E" (business retention and expansion) effort that focuses on keeping existing firms and facilitating seven pending leases at the Airport Commerce Park; King said private investors and Comcast recently joined the EDC's investor board. King also described workforce initiatives: a "Culture of Collaboration" between nonprofits and a five-year junior-leadership program that had nearly 100 applicants this year and graduated 73 students.
King provided leverage figures showing that the county's current allocation to the EDC has been tied to more than $38 million in secured private capital this fiscal year, part of $123 million of active project capital and a projection of hundreds of future jobs. "That's over $253 in private investment for every county dollar" in the current allocation, King told commissioners; she asked the county to continue support as the EDC pursues site-ready projects and recruitment activity.
Commissioners discussed zoning and the rezoning process for private industrial projects, and requested more outreach to volunteer boards and advisory committees so lay volunteers better understand the economic-development rationale behind some proposals. King offered to hold educational roundtables for community boards and stakeholders.
Why it matters: The EDC’s update highlights pipeline activity at the county airport park, an emphasis on utilities and site readiness as key site-selection factors, and a focus on workforce and retention programs intended to translate private investment into local jobs. The board asked staff to consider steps to better inform volunteer advisory boards about county economic-development projects.
