Together we can do more for Manatee County's economy
Together we can do more for Manatee economy
"By moving our company here, together we have created an unprecedented economic engine for the region for decades to come."
When Kenneth Feld, chairman and CEO of Feld Entertainment, said those words at our recent Annual Progress Update event, he captured the essence of why economic development matters to our community.
At the Bradenton Area Economic Development Corp. (EDC), we lead efforts to diversify Manatee County's economy by recruiting businesses for relocations and helping local businesses to expand. We target companies in high-growth industries, provide high-wage jobs, and sell their goods and services outside the local market.
During our annual meeting on Nov. 13, we highlighted our results and showcased some companies the EDC and its partners have assisted.
Feld Entertainment was one of those, and Kenneth Feld revealed some eye-popping impacts from his company's growth at its global headquarters in Ellenton.
By the end of next year, Feld expects to employ 600 full-time, permanent employees in Manatee County -- more than double the number the company committed to when it applied for local performance-based, economic development incentives.
Jobs mean wages, and wages mean local spending, which boosts the area's economy.
Feld said, "Since we made the decision in 2011 to begin our relocation project (to Manatee County), our company's direct economic impact has exceeded $400 million with a broader impact at close to $1 billion (locally). Over the next 20 years, the total economic impact of everything we will do at Feld Entertainment Studios, including all the shows we will launch from here and all the people we will bring to the area, will top $7.5 billion."
That's "billion," with a "b."
Beyond the local economic impact, however, Feld Entertainment's locating here serves another purpose for economic development. It validates Manatee County's viability as a location for global, high-growth businesses that need a talented, diverse workforce; room to grow; a business-friendly community; and a great place for employees to live.
To put it simply, companies like Feld Entertainment prove our claim: the Bradenton area's nine communities are the business address for the South Tampa Bay region.
Can we improve our chances for attracting and growing more employers like Feld Entertainment? You bet!
That's the focus of the EDC's new, multi-year strategic plan. The "Build Bradenton Area Plan" identifies opportunities to make Manatee County even more attractive to the Felds of the world. We launched the plan this August, and we are talking with diverse partner organizations across the region to implement the initiatives.
We're also challenging our investors, and those who would join us in creating Manatee County's future, to step up with their leadership skills and financial support to help make the plan's vision a reality.
As Mike Moschella, incoming EDC chairman for 2016, told the packed house at our annual meeting, "From expanding economic development resources, to fostering entrepreneurship. From expanding programs for workforce/talent attraction and retention, to amplifying the Bradenton Area brand -- we will continue to strengthen the business competitiveness of this community,"
Chris Ciaccio, an executive at IMG Academy and winner of the 2015 Rick Fawley Economic Development Award of Distinction, voiced the call at our annual meeting.
"Together, we can do more," he said.
It's a challenge -- and a pledge. Together, we will do more.
Sharon Hillstrom, president and chief executive officer of the Bradenton Area Economic Development Corp., may be contacted at info@thinkbradentonarea.com or 941-803-9036.
This story was originally published November 22, 2015 at 11:29 PM with the headline "Together we can do more for Manatee County's economy ."