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

PROUDLY SERVING

Albemarle Commission CYCLE OF DEVELOPMENT

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

Economic Development

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

B u s i n e s s a n d I n d u s t r y

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, Pasquotank and Perquimans Gates,

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

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

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

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

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

.

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

Workforce Development

Business Coordinator Services & Economic Development

• 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

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

http://www.nwdbworks.org/2015/03/the-2014-nwdb databook-is-here/

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

Revolving Loan Fund

The Albemarle Commission’s Small Business Loan Program is a loan program designated by the U.S.

Economic Development Administration 1992.

Purpose

• Grow the Region’s business environment • Develop a competitive business environment

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

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

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

CLOSING CYCLE OF DEVELOPMENT

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

Contact

Cathy Davison, ICMA-CM Executive Director Phone: 252-426-5753 ext. 227 [email protected]

www.albemarlecommission.org