Frequently Asked Questions (FAQs)
1. How can I contribute to the Economic Development Corporation? Click here for online investment payment system or make checks payable to Aransas County EDC and mail to: P O Box 2620, Rockport, TX 78381
Why do we need it now? We haven’t had it all these years?
In the past, since the organization was not funded or in place, the local entities individually handled developer and business inquiries as they came in. The hurricane brought many changes, challenges and opportunities to our communities. For example: Community Block Development Grants - Disaster Recovery Grants/projects, Federal Emergency Management Agency (FEMA) grants/projects, Hazard Mitigation grants/projects, and Opportunity Zones are some of the programs now available to our communities. With an extensive project list and associated funding resources, it is now time to grow responsibly and make strategic decisions. We need an economic development program and an organization to execute it to:
2. How are you going to measure the performance of this? The contract between the Local Government Corporation and the C6 will contain performance metrics. In addition, there are industry standard performance measures. These measures will be reported to the LGC, sponsoring governmental entities, and the C6 Board. Performance metrics will also be reported on at the annual board meeting.
3. How can I be involved? Here is a link to a survey that asks questions where you can be most helpful. Please complete as soon as possible: http://survey.constantcontact.com/survey/a07eg2ulmlbjrqer1sc/start
4. What is the job description of an ED staff person? What do they do? Read over the form here as it explains what an Economic Developer does.
5. How do you identify the targeted companies? What is the process? Through the programs available to our community because of the hurricane, the Texas General Land Office has agreed to fund an economic development study for the region and to work collectively and individually with the communities in the region. The GLO has already issued a Request for Qualifications to hire a consultant or consulting entity to: perform a community asset inventory, work with the communities to develop new target industries, identify regional partners, and make recommendations on community assets that need to be further developed. It is anticipated that the award of contract for services will be soon. The C6 will need to be in place to work with the consultant to get the most out of the study.
6. When is all this going to happen? “Getting Organized” of the powerpoint here, you will find the process of putting an organization such as this together.
7. Will I experience a tax increase? We are capped out at the sales tax rate so this is not possible. This type of organization has no taxing authority.
8. It is my right to have a referendum on this. Most Economic Development Organizations are incorporated as 4A or 4B Corporations and this requires a referendum vote because it imposes sales tax. We are capped out and not able to do this so a referendum vote is not needed.
9. I am concerned about what type of companies will be recruited. It will be targeted industries that fit and compliment the needs of this community. The “fit” will be defined by community meetings sponsored by the LGC or the GLO-provided consultant.
10. What does a One Stop Shop refer to when speaking of the EDC? An Economic Development Corporation is developed to be the “one stop” a developer or business owner looking to come to the area will need to receive information about the community and its policies. This allows for a consistent, predictable process. The same information and assistance is given to anyone inquiring about the area.
11. What cities and towns around us have EDCs? Click here for the Texas Economic Development Handbook. Scroll through the pages to find the listing.
12. What is the latest update on the EDC? All entities have approved formation of an LGC. The City of Rockport, Town of Fulton, and the Navigation District have approved proposed changes to the formation documents. Aransas County has changes to the formation documents scheduled for its next workshop. The private, non-profit C6 Corporation’s incorporation has been approved by the state. The first annual meeting of the C6 is scheduled for January 31, 2020.
13. What is the structure we are using for Economic Development?
14. How do the two economic development entities work together?
15. Can the C6 Non-Profit EDC operate without the LGC? Yes.
16. Why does the Economic Development effort need to have two entities - an LGC and a C6 non-profit Economic Development Corporation EDC? It comes down to a way for economic development to be funded. The LGC is needed because the community is capped out on its sales tax so it cannot have a 4A or 4B tax for economic development. A LGC can accept charitable donations and it can apply for grants. Because the funding commitments and capabilities of the LGC Sponsoring Entities are insufficient to fund an economic development program, the C6 non-profit corporation will have memberships which will help fund and make up the deficit. The two entities have very different roles. The LGC provides policy and defines what programs should be pursued. They communicate these goals through a contract for services with the C6 Corporation. The C6 is the worker bee organization as outlined in question #1.
The Local Government Corporation, whose members are solely governmental representatives, will define policy and programs. The LGC would then contract with the C6 non-profit organization to implement the policies and programs. The C6 organization would be the buffer needed to gather data, conduct marketing, make recommendations, and work through projects.….it is the organization that would do the legwork necessary to execute the Economic Development Plan adopted by all of the community governmental entities. The C6 would be the “one stop shop” organization structured with policies, and procedures, and government oversight to address what we will be up against as we continue to recover and rebuild our community. Due to recent legislative changes that limit taxation, the work this organization would perform is needed now more than ever to expand the tax base and generate sales tax to deliver important services.
17. What kind of programs do economic development corporations traditionally provide? Business retention and expansion, business attraction, business development, tourism, workforce development, innovation/entrepreneurship, business incubation, angel investor matching/access to private capital.
18. How much will this cost? The LGC entities have made the following funding commitments: $12,000 City of Rockport, $12,000 Aransas County, $2,500 Town of Fulton, and $2,500 AC Navigation District. Preliminary indications reveal a C-6 budget of $150,000 annually would allow for the organization to form and run. In the budget, line items show government (LGC) and private donor and member support (EDC c6).
19. When is the first meeting of the EDC? The first membership meeting of the Aransas County Partnership Economic Development Corporation (Aransas County EDC) will be held January 31, 2020 at the Old Fulton Seafood Cafe. More information to follow.