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General Fund
Economic Development
DEPARTMENT SUMMARY
Change from FY2022
FY2021 FY2022 FY2022 FY2023
Adopted
Final Adopted Adjusted Adopted Amount %
Use of Money & Property 160,840 147,341 147,341 150,805 3,464 2.35%
Other 6,000 9,702 9,702 2,000 (7,702) -79.39%
Transfer In 581,912 819,963 819,963 985,301 165,338 20.16%
Revenue $ 748,752 $ 977,006 $ 977,006 $ 1,138,106 $ 161,100 16.49%
Salaries & Benefits 1,415,803 1,674,939 1,674,939 1,901,071 226,132 13.50%
Gen Operating & Maintenance 27,530,366 34,084,175 34,084,175 36,612,250 2,528,075 7.42%
Transfer Out & Other 1,693,952 5,691,893 5,871,024 5,254,247 (437,646) -7.69%
Expenses $ 30,640,120 $ 41,451,007 $ 41,630,138 $ 43,767,568 $2,316,561 5.59%
2022 2023 Change
Fund AP FTE AP FTE AP FTE
General Fund 13.00 13.00 15.00 15.00 2.00 2.00
Grant Funds 4.00 4.00 4.00 4.00 - -
Total 17.00 17.00 19.00 19.00 2.00 2.00
DEPARTMENT PURPOSE AND GOALS
The Economic Development Department pursues high-wage job growth and a more sustainable tax base, driven
less by residential property valuation and more by commercial and industrial movement, and has a commitment
to “quality of place” throughout the community. This effort is to support the vision to compete successfully on
the national and international stage for creative, high-growth businesses and the talented individuals who fuel
them. The Economic Development Department accomplishes this through multiple divisions.
The Administration division oversees the development and implementation of departmental goals, objectives,
policies, and priorities, as well as overall operational activities including budget, payroll, and human resources
functions.
The Strategic Development and Revitalization division is responsible for business recruitment and retention, small
business support, entrepreneurship and innovation initiatives, and targeted area redevelopment. The division is
primarily responsible for the implementation of the Economic Development Strategic Plan Initiative which was
approved by City Council in FY2018 and whose refresh was recently approved in FY2022.
The Operations and Research division is responsible for oversight of the tax increment financing districts (TIFs)
and public improvement districts (PIDs), compliance of Chapter 380 and tax abatement agreements, research of
economic trends and demographics, and administration of component units, including the Local Development
Corporation.
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