Page 270 - Manfield FY21 Budget
P. 270
Goal 3
Attract new opportunities to Historic Downtown Mansfield.
Objectives:
• Determine how best to implement the Downtown Development Plan.
• Evaluate possible incentives to attract more private investment in Downtown.
• Promote Main Street improvements to attract additional downtown investment.
Performance Objectives
• Complete the infrastructure for the Mansfield International Business Park.
• Facilitate a development agreement with a hotel developer for a conference center hotel.
• Bring new tenants to Downtown Mansfield.
Actual Actual Budget Budget
MEDC 2018/2019 2018/2019 2019/2020 2020/2021
Demand
Value of MEDC Projects $ 27,192,915 $ 33,975,000 $ 29,409,138 $ 35,673,750
Businesses Retained 98% 98% 98% 98%
Contractual MEDC Commitments $ 1,279,600 $ 970,000 $ 1,383,887 $ 1,018,500
Workload
Value of MEDC Projects $ 27,192,915 $ 33,975,000 $ 29,409,138 $ 35,673,750
Businesses Retained 98% 98% 98% 98%
Contractual MEDC Commitments $ 1,279,600 $ 970,000 $ 1,383,887 $ 1,018,500
New Capital Investment $ 27,192,915 $ 6,400,000 $ 29,409,138 $ 6,720,000
Business Expansions 3 4 3 2
Jobs Created or Retained by Activity 350 220 350 250
Productivity
Contracted Projects 5 1 6 4
New Capital Investment $ 27,192,915 $ 6,400,000 $ 29,409,138 $ 6,720,000
Average Monthly Visits to Industry 20 20 20 20
Jobs Created or Retained by Activity 350 220 350 250
Effectiveness
Value of MEDC Projects $ 27,192,915 $ 33,975,000 $ 29,409,138 $ 35,673,750
Businesses Retained 98% 98% 98% 98%
Contractual MEDC Commitments $ 1,279,600 $ 970,000 $ 1,383,887 $ 1,018,500
New Commercial Business 2 1 5 3
Measurable Outcomes:
• Mansfield International Business Park infrastructure completed.
• Identify and begin working with a hotel development partner.
• New businesses open in Downtown Mansfield.
MEDC 2018-2019 2019-2020 2020-2021 2020-2021
Full Time Equivalent Positions Budget Budget Budget Change
Director 1 1 1
Business Development Manager 1 1 1
Business Retention Manager 1 1 1
Administrative Assistant 1 1 1
Total 4 4 4 0
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