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The Albemarle Commission Founded in 1969 by the General Assembly Mission: improve member governments ability to enhance quality of lives of citizens Objective:

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Presentation on theme: "The Albemarle Commission Founded in 1969 by the General Assembly Mission: improve member governments ability to enhance quality of lives of citizens Objective:"— Presentation transcript:

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2 The Albemarle Commission Founded in 1969 by the General Assembly Mission: improve member governments ability to enhance quality of lives of citizens Objective: Provide direct Services, grant writing, planning and assessment, program development and management, and economic development Represent: Counties of Camden, Chowan, Currituck, Dare, Gates, Hyde, Pasquotank, Perquimans, Tyrrell, and Washington

3 PROUDLY SERVING

4 Albemarle Commission CYCLE OF DEVELOPMENT Economic Development Strategic Planning - Job Opportunities Are Identified – Customized Training Is Developed – Businesses Expand and Are Created Albemarle Commission Economic Development Strategic Planning NWDB Business Services Educational Stakeholders Customized Training Development Revolving Loan Fund

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6 Economic Development Tasked by the Economic Development Administration to develop a Regional comprehensive economic development strategy in order to support local government in their economic development efforts to: Retain Expand Attract Business and Industry

7 Economic Development Strategic Planning Comprehensive Economic Development Strategy for the Region with a workable action plan. 3 sub-regions within our 10 County Region Currituck and Dare Hyde, Tyrrell, and Washington Camden, Chowan, Currituck, Gates, Pasquotank and Perquimans

8 Economic Development Strategic Planning Economic Development Clusters for the Region Eco-Tourism Tourism Aviation Marine – boat building and fishing Agricultural Business / Biotechnology Public Health Small Business/Entrepreneur Warehouse Distribution/Logistics Technology Retiree / Relocation Alternative Energy

9 Economic Development Strategic Planning Economic Development Clusters for the Region Currituck, Dare Tourism Eco-Tourism Aviation Higher Education Marine – Boat Building and Fishing Hyde, Tyrrell, Washington Eco-Tourism Agricultural Business Marine Forestry Aviation

10 Economic Development Strategic Planning Economic Development Clusters for the Region Camden, Chowan, Currituck, Gates, Pasquotank, Perquimans Warehouse Distribution/Logistics Eco-Tourism Retiree/Relocation Aviation Higher Education Agricultural Military

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12 Workforce Development The Northeastern Workforce Development Board provides employee recruitment, training services, and business support services within the Albemarle Region. NC Works Career Centers Work with businesses to fill job openings with qualified workers through a comprehensive screening process if so elected by the business. Customized job applicant screening Qualified Candidate Referrals Arrange Job Fairs Offsite space available for interviews Labor Market Analysis is available

13 Workforce Development On-The Job Training (OJT) grants The training program utilizes the Employer as the trainer. Provides a substantial reimbursement of a new employee’s pay rate for an agreed upon training period Training reimbursement is designed to offset the cost associated with training an employee who exhibits a skills gap.

14 Workforce Development Incumbent Worker Development Program (IWDP) The training program available to businesses to train their current employees. Assists employers with identifying the skills gaps and training needs of current employees. A set grant amount is contracted with the employer to provide these services. Approvable training includes: Occupational and educational skills designed to meet the special requirements of the business

15 Workforce Development Business Services & Economic Development Coordinator Works closely with the Region’s businesses directly and through the local chambers of commerce and economic development organizations to: Understand the workforce needs of existing and new businesses Collect and communicate information regards skills, education and experience of the current workforce Provides labor market analysis, comprehensive economic forecasting and economic input data Assists with human resource consulting services

16 Workforce Development Market & Economic Research Having the right information to make decisions and develop workforce strategies is key to business success. Economic Forecasting Reports: current statistics and 10 year projections of job growth/decline by industry or occupation and demographics databook-is-here/

17 Workforce Development Market & Economic Research Continued Economic Impact Reports: Input-Output Models Wage data by industry or occupation Educational Attainment data Import and Export analysis data

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19 Revolving Loan Fund The Albemarle Commission’s Small Business Loan Program is a loan program designated by the U.S. Economic Development Administration Purpose Grow the Region’s business environment Develop a competitive business environment

20 Revolving Loan Fund Objectives Reduce unemployment by creating and retaining jobs Increase the Region’s tax base by assisting with the expansion of existing businesses and encouraging new business development Provide capital for existing and new industry

21 Revolving Loan Fund Requirements Up to $100,000 per borrower, but a waiver is available from the EDA Minimum loan amount is $10,000 1 full-time job must be created for every $10,000 borrowed $2 of private funding for every $1 borrowed Collateral must be dollar to dollar Interest Rates are NY Prime plus or minus 4% Application Fee: $500, partially refundable if the loan is not approved

22 Revolving Loan Fund Eligible Expenditures Land & Site Improvements & Infrastructure costs Building Improvements Purchase of Machinery and Equipment Other costs contributing directly to the value of fixed assets, such as sales and use taxes, and interest on interim construction financing Adequate contingency reserves Start-up and working capital Relocation expenses as per Uniform Relocation Assistance Act

23 CLOSING CYCLE OF DEVELOPMENT Economic Development Strategic Planning - Job Opportunities Are Identified – Customized Training Is Developed – Businesses Expand and Are Created Albemarle Commission Economic Development Strategic Planning NWDB Business Services Educational Stakeholders Customized Training Development Revolving Loan Fund

24 Contact Cathy Davison, ICMA-CM Executive Director Phone: ext. 227

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