- The mission of the Governor's Office of Economic Development is to foster the creation of highquality jobs in private industry for Nevadans. Department Budget Highlights: 1. Enhance Research and Commercialization - The Knowledge Fund, established by AB 449 of the 2011 Session, receives $10 million over the biennium to encourage intellectual property licensing, increase the number of start-up companies, and promote job growth in Nevada by funding research in areas targeted for economic growth. 2. Increase International Marketing Activities - Funding is added to increase international marketing activities that will expand Nevada's exports and attract foreign direct investment into the state. 3. Technology Commercialization - Funding is added to continue the Center of Excellence efforts to be a world leader in water technology with respect to the conditions caused by aridity and in the areas of conservation, resource planning, pumping, treatment, storage, distribution, and reuse. Department Biennium Total by Funding Source Funding (excludes Reserves) 77% General Fund 17% Federal Fund 4% Other 2% Transfers Department 2016 2017 Total $ 27,127,179 33,688,514 Total FTE 46.00 46.00 Department Biennium Total by Core Function Core Function 100% Business Development and Services ECONOMIC DEVELOPMENT - 1
Activity: Business Development Business Development conducts outreach to potential businesses in order to grow businesses in Nevada. 1. Jobs Created through Statewide Economic Development Assistance Amount: 1,492 1,760 2,888 5,255 6,569 8,211 10,264 2. Average Wages Generated through Statewide Economic Development Assistance Dollars: 19.29 19.59 20.01 18.08 22.6 28.25 35.31 3. Capital Investment as a Result Statewide Economic Development Asst. ($=M) Dollars: 361 1,408 1,468 530 663 829 1,036 1. Qualified Leads as a result of Statewide Economic Development Assistance Type: N/A N/A Actual Actual Projected Projected Projected Amount: 0 0 673 419 524 655 818 General Fund $ 33,257,969 12,297,613 FTE 22.04 22.04 Transfers $ 8,445 8,528 FTE 1.77 1.77 Federal Fund $ 4,779,440 86,360 FTE 0.00 0.00 Adjustment to $ -16,928,470 14,915,543 Reserves FTE 1.00 1.00 Other $ 1,117,938 1,479,018 FTE 3.83 3.83 TOTAL $ 22,235,323 28,787,062 FTE 28.64 28.64 22,235,323 28,787,062 2. Number of Prospects from Statewide Economic Development Assistance Type: N/A N/A Actual Actual Projected Projected Projected Amount: 0 0 488 419 524 655 818 3. Number of Wins as a result of Statewide Economic Development Assistance Type: N/A N/A Actual Actual Projected Projected Projected Amount: 0 0 186 146 183 228 285 ECONOMIC DEVELOPMENT - 2
Activity: Global Trade and Investment The International Division seeks to grow Nevada exports, attract foreign direct investment, and recruit international firms to Nevada. 1. Inbound Trade Mission Face-to-Face Business Connections Amount: 27 30 33 36 2. Outbound Trade Mission Face-to-Face Business Connections Amount: 69 76 83 92 1. Number of Global Recruiting Inquiries Amount: 235 259 284 313 General Fund $ 719,312 719,325 FTE 2.31 2.31 Transfers $ 1,055 998 FTE 0.19 0.19 Federal Fund $ 9,250 9,250 FTE 0.00 0.00 Other $ 7,217 7,095 FTE 0.41 0.41 TOTAL $ 736,834 736,669 FTE 2.91 2.91 736,834 736,669 2. Number of Global Recruiting Leads Amount: 15 17 18 20 3. Number of Global Recruiting Prospects Amount: 14 13 15 16 ECONOMIC DEVELOPMENT - 3
Activity: Film Attraction and Development The Film Office attracts film, television, and commercial companies here for production due to diverse entertainment assets in Nevada. It assists companies in finding locations, and connects them with local vendors/crews to facilitate productions. It seeks permanent production and postproduction opportunities to develop more full-time employment. 1. Estimated Local Expenditure from Productions Filmed in Nevada Dollars: 102,525,600 88,783,700 68,374,708 64,011,197 62,136,003 68,349,603 75,184,563 2. Total Budget of Film Productions in Nevada Type: N/A N/A N/A Actual Projected Projected Projected Dollars: 0 0 0 132,284,779 145,513,257 160,064,583 176,071,041 1. Productions Filmed in Nevada Amount: 479 520 561 443 487 536 590 General Fund $ 87,078 87,885 FTE 0.31 0.31 Transfers $ 600,136 600,129 FTE 4.05 4.03 Federal Fund $ 1,190 1,190 FTE 0.00 0.00 Adjustment to $ 79,613 79,148 Reserves FTE 0.54 0.53 Other $ 65,892 70,686 FTE 0.49 0.52 TOTAL $ 833,909 839,038 FTE 5.39 5.39 833,909 839,038 ECONOMIC DEVELOPMENT - 4
Activity: Rural Community Development Rural Community Development administers the Community Development Block Grant program (CDBG) and provides infrastructure and services to Nevada communities so they can grow business opportunities and become more sustainable by doing business with the federal, state, and local governments. 1. Total Funds Provided as CDBG's to Rural Nevada Dollars: 2,276,074 2,674,781 2,170,726 2,439,168 2,439,167 2,400,000 2,400,000 2. Total Number of Reported Beneficiaries as a Result of the CDBG Program Amount: 76,551 309,526 71,091 91,655 91,655 85,000 85,000 3. Total Funds Leveraged as a Result of Using CDBG funds Amount: 16,558,290 13,053,041 11,121,925 1,727,490 1,727,490 2,000,000 2,000,000 General Fund $ 183,406 187,195 FTE -0.34-0.34 Transfers $ 228 216 FTE 0.04 0.04 Federal Fund $ 2,449,660 2,449,312 FTE 2.86 2.86 Other $ 1,560 1,534 FTE 0.09 0.09 TOTAL $ 2,634,854 2,638,257 FTE 2.66 2.66 2,634,854 2,638,257 1. Total Number of Project Applications Requesting CDBG Assistance Amount: 27 42 35 39 39 25 20 2. Total Number of Projects Funded with CDBG Funds Amount: 23 32 27 24 24 18 14 ECONOMIC DEVELOPMENT - 5
Activity: Government Contract and Procurement Government Contract and Procurement, through the Procurement Outreach Program provides government procurement technical assistance to Nevada businesses in order to grow Nevada businesses which are expanding into the federal, state, or local government market. 1. Dollar Value of Contracts Resulting from Technical Assistance 2012 2013 Dollars: 53,867,123 73,527,683 51,370,821 42,000,000 43,000,000 44,000,000 2. Number of Contract Awards 2012 2013 Amount: 272 267 372 280 287 293 1. Number of Businesses Participating in Procurement Outreach Program 2012 2013 Amount: 1,991 1,224 1,330 1,200 1,230 1,260 General Fund $ 216,081 217,331 FTE 1.89 1.87 Transfers $ 137 129 FTE 0.02 0.02 Federal Fund $ 469,107 469,107 FTE 4.43 4.45 Other $ 936 920 FTE 0.05 0.05 TOTAL $ 686,261 687,488 FTE 6.39 6.39 686,261 687,488 2. Number of Counseling Sessions 2012 2013 Amount: 2,567 2,324 2,737 1,399 1,434 1,470 ECONOMIC DEVELOPMENT - 6