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One Okaloosa EDC touts $150M in military projects, Space Florida academies and TechNet growth; council questions public funding mix
Summary
One Okaloosa EDC Director Nathan Sparks reported recent economic-development activity including roughly $150 million in military construction projects championed by the EDC, a Space Florida MOU to create Space Academies in county high schools, and TechNet Industry Day attendance of 499; councilmembers questioned the level of public funding support for EDC operations.
Nathan Sparks, executive director of One Okaloosa Economic Development Council, briefed the Fort Walton Beach City Council on the organization's recent activities and results.
Sparks said the EDC spent late April meeting with the congressional delegation and Pentagon staff and credited the EDC's defense support committee with helping secure about $150 million in military construction projects over the past decade. He highlighted TechNet Industry Day as the organization's largest event this year (499 registered, 48 exhibitors), and noted a new memorandum of understanding with Space Florida and the Okaloosa County School District to create Space Florida Space Academies in local high schools.
Sparks said One Okaloosa's annual budget is about $730,000, with roughly $223,000 in public-sector support (county and other) and about $360,000 from memberships. He noted TechNet net revenue of about $40,000 and discussed a 43.5 million-dollar aerospace project (Project Normandy) under consideration with a decision expected in Q3.
Councilman Walker questioned why the EDC seeks public dollars given corporate sponsors and asked about the executive director's salary; Sparks said the executive director's base salary is $170,000 and reiterated membership and event revenues and the value of a county-level ad valorem tax exemption used to attract facilities.
Council members praised the EDC's role in prospecting and workforce programming but stressed that elected bodies rightfully evaluate any public funding requests for return on investment.
Sparks invited council questions and said the EDC sees itself as an outsourced economic development arm for municipalities and emphasized the outreach to workforce and military-related industries.
