Agenda Item Wording:
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Service Agreement - Authorization to execute annual service agreement with Visalia Economic Development Corporation for $60,000 for FY 2024/25 with the option of four annual extensions.
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Deadline for Action: 6/3/2024
Submitting Department: Community Development
Contact Name and Phone Number:
Devon Jones, Economic Development Manager, devon.jones@visalia.city, (559) 713-4190
Department Recommendation:
Authorize execution of an annual service agreement with the Visalia Economic Development Corporation for $60,000 for FY 2024/25 with the option of four annual extensions.
Background Discussion:
The City has partnered with the Visalia Economic Development Corporation (VEDC) for economic development services since its inception in 1996. The formation of the VEDC was originally in response to a need for economic development services for the city specifically and was driven by support from the private sector. The VEDC was instrumental in the development of the industrial park. Today, services focus on marketing the industrial park, coordination with key stakeholders, and outreach assistance to local existing industrial employers to help retain and expand jobs in the industrial park. The partnership helps with ongoing business retention, expansion and attraction efforts and most importantly, helps to maintain an open line of communication with local economic development stakeholders and private sector leaders in the Visalia Industrial Park (VIP). The organization continues to focus on the industrial sector primarily and is an essential partner for the continued vitality of the VIP.
Major elements of the service agreement include continued coordination of the monthly industrial park roundtables, supporting workforce development, and ongoing outreach to the local companies in the VIP. Service also includes maintenance of an industrial park directory, the www.visaliaedc.com website, and ongoing social media marketing outreach ...
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