1. Economic Development 101
Improving the quality of life of the Greater Owensboro region

2. The EDC fulfills its mission
through
the following activities:
Create an environment for economic
investment, business formation, company
location, and talent
Primary point of contact for existing
companies, new business prospects, and
startup companies
Strategic positioning for long-term global
competitiveness through infrastructure, a
competitive workforce, and quality of place

3. GO-EDC
2011-2012
City of Owensboro $203,664
Total GO-EDC Budget (EDC, Skills, Inc., DOI)
$683,764
Daviess County Fiscal $178,100
Five employees Court
(EDC, Skills, Inc., DOI)
Coordinated multi-
dimensional strategy Investment 2020 $197,200
(industrial, startup, (Private Investment)
downtown, workforce
development- Commonwealth of Kentucky $75,000
OwensboroWorks.com) (KSTC- IN program)
Fully funded innovation
center program
Regional partnerships with
Hancock, Ohio and
northwest Kentucky counties
and Indiana

4. Milestones 2006-2012
• 2006 • 2008
• Commerce Center • Placemaking Strategy-
• Life Science Strategy
Downtown Master Plan
• Comprehensive ED • 2009
Strategy • Kentucky United
• Revival of Regional Alliance • Emerge Partnership- LO
for Education • Hancock County MOU
• 2007 • 2010
• OwensboroWorks.com • Centre for Business and
replaces Skills, Inc. Research opens
• DOI folds into EDC as • 2011
Downtown Dev. Corp. • Community Campus
• Innovation Network- SBDC
• 2012
• WKU-O MOU
• eMerging Ventures- ICC

5. Results
GO-EDC 2005-2006 GO-EDC 2011-2012
• 14 state projects
• 8 state projects • $60 million investment
• $12 million investment • ICC program spawned
over 20 new firms with
• No Innovation Network over $50 million in new
• Minimal activity in
investments and 70 new
jobs with average wage of
downtown Owensboro over $75,000
• Downtown private
investment reached $75
million in 2012, nearly
matching original $79
million public investment

6. Economic Development:
Approaches

7. Community Strategy…
• Jobs Strategy • Product Development
• Existing Business • Infrastructure
Retention • Placemaking- Quality of
• New Business Targets Life
• Growing New • Workforce Development/
Companies- startups Education

8. Job Growth: 1990-2010
Source: Bureau of Economic Analysis; Owensboro peer region benchmarking done initially in 1998 by
Paul Coomes, University of Louisville. Peers are regions within 30,00 of Owensboro MSA population in
1998, not located on an interstate, no public university, not a state capital region, not within 60 miles of
major city of 1 million or more.

9. Best Cities for Jobs 2012
2012 Rank
Among
Small Cities
1 Odessa, TX
70 Clarksville, TN-KY
2 Midland, TX
93 Bowling Green, KY
3 Columbus, IN
111 Elizabethtown, KY
4 Lafayette, LA
5 San Angelo, TX
6 Blacksburg-Christiansburg-Radford, VA
7 Casper, WY
8 Williamsport, PA
9 Glens Falls, NY
10 Lubbock, TX
11 Laredo, TX
12 Columbia, MO
13 Cumberland, MD-WV
14 Gainesville, GA
15 Portsmouth, NH-ME NECTA
16 Holland-Grand Haven, MI
17 Bismarck, ND
18 Houma-Bayou Cane-Thibodaux, LA
19 State College, PA
20 Fargo, ND-MN
21 Ocean City, NJ
22 Owensboro, KY
23 Charlottesville, VA
24 Tyler, TX
25 Cheyenne, WY Source: NewGeography.com

10. Manufacturing Jobs: 1990-2010
Source: Bureau of Economic Analysis; Owensboro peer region benchmarking done initially in 1998 by Paul
Coomes, University of Louisville. Peers are regions within 30,00 of Owensboro MSA population in 1998,
not located on an interstate, no public university, not a state capital region, not within 60 miles of major city
of 1 million or more

11. Funding and Performance
Source: Funding data from GO-EDC survey of peer region economic development organizations; jobs date from Bureau of
Labor Statistics and Bureau of Economic Analysis

12. Regional Demographics
Labor Availability
Labor Market 481,263 Owensboro Kentucky US
Population Region
Labor Force 255,128 Per Capita $33,160 $33,667 $39,937
(20 mile radius) Personal
Owensboro MSA 112,266 Income
Population
2000-2010 PCPI 3.1% 2.9% 2.8%
Owensboro MSA 53,799 Growth Rate
Labor Force
Real GDP Per $32,774 $33,273 $42,346
Age Distribution (20- 32% Capita
44)
Source: US Bureau of Economic Analysis
Average Hourly $16.60
Manufacturing Wage
Per Capita Income Growth
In 2010 Owensboro had a per capita personal income of $33,160. This PCPI was
83 percent of the national average, $39,937. In 2000 the PCPI of Owensboro was
$24,540. The 2000-2010 average annual growth rate was 3.1%. The average
annual growth rate for the nation was 2.8%.
Source: U.S. Bureau of Economic Analysis

13. Industries that drive the regional
economy
Industry LQ
Gas Pipeline Transportation 31
Aluminum/ Metal Production 14
Food Manufacturing 2
Finance/ Mortgage Processing 1.7
Transportation Equipment Production 1.5
Health Care 1.3
Transportation and Warehousing 1.2
LQ or Location Quotient is a ratio to measure the concentration of local employment compared to national employment
in an industry cluster to determine the if industries are basic or non-basic industries. An LQ of 1 or higher indicates a
greater concentration of jobs in any given region compared to the nation and therefore a basic industry. According to
economic base analysis theory, jobs in basic industries drive the flow of outside wealth into a region and provide
greater economic development than jobs in non-basic industries.

14. Top Workforce Clusters
Occupation Employment Mean Mean LQ Future
Hourly Annual Growth
Milling and Planing Machine 90 $14.15 $29,430 9.48 -21.10%
Setters, Metal and Plastic
Tool Grinders, Filers, and 50 $20.77 $43,210 8.42 -15.70%
Sharpeners
Rolling Machine Setters, 340 $19.82 $41,220 8.42 -11.80%
Operators, Metal and Plastic
Heat Treating Equipment 60 $15.76 $32,780 7.01 -14.80%
Setters, Operators, Metal
and Plastic
Industrial Machine 550 $22.76 $47,340 5.42 9%
Mechanics
Regional Occupational Concentrations Ranked in Top 5 in the Nation!
Source: US Bureau of Labor Statistics

15. Production Occupations
LQ Future Growth
Metal, Plastic Industry Machine Setters 5.48 -12.20%
Metal and Plastic Workers 5.06 -25.10%
Welders, Cutters, Brazers 3.87 5.10%
Helpers, Production Workers 2.88 -0.5%
Packaging Machine Operators 2.5 -5.4%
Inspectors, Samplers, Weighers 2.25 -7%
First-line Supervisors, Managers 2.23 -4.48%
Industrial Production Managers 2.33 -5.8%
Bakers 2.35 10.5%
Electricians 1.44 7.4%
Source: US Bureau of Labor Statistics

16. Health Care Occupations
LQ Future Growth
Surgical Technologists 3.70 24.4%
Physical Therapy Assistants 2.24 16.7%
Radiology Technicians 1.99 15%
Pharmacy Technicians 1.71 28.9%
Nursing Aides, Orderlies 1.69 18.2%
Registered Nurses 1.65 23.5%
Other Nurses 1.21 14%
Lab Technologists 1.16 15%
Physicians Assistants 1.15 27%
Medical Records and Health IT 1.15 17.8%
Source: US Bureau of Labor Statistics

17. Professional Service
Occupations
LQ Future Growth
Loan Officers 1.8 11.4%
Purchasing Agents 1.25 -8.6%
Cost Estimators 1.01 18.5%
Human Resource Managers 1.81 12.5%
Stock Clerks 1.09 -7.6%
Shipping, Receiving Clerks 1.09 3.6%
Source: US Bureau of Labor Statistics

18. Economic Development 101

19. Business Attraction:
Strengths
• River
• Location
• Low Cost Energy
• Low Tax Burden
• Diversity of Economic Base
• Manufacturing Retention
• Enhanced Transportation
• Colleges and Universities

20. Business Attraction:
Challenges
EPA Non Attainment
Air Quality Region
Right to Work State
Interstate Access (I-
65 and I-75)
Commercial Air
Service
Workforce Skill Gap
(production workers to
technicians)

21. New Business Targets
Cluster Analysis using
Location Quotients
• Advanced Manufacturing
• Food, Automotive, Metals
• Distribution/ Logistics
• Back Office/ Call
Centers

22. Kentucky United
• Joint state-regional marketing effort
• Kentucky Cabinet for Economic Development
• Local EDO’s (GO-EDC)
• Prospecting trips (New York, Detroit, California,
Northeast)
• Site selector luncheons (Atlanta, Chicago,
Indianapolis, New York)

23. Community Marketing

24. Infrastructure
• Certified Mega Site on
River in Hancock
County
• Riverport- Panama
Canal Changes
• Cheaper-Faster
Broadband
• Certified Work Ready
Community
• Commercial Air
Service

25. Higher Education Partnerships
• Research Programs
• U of L/ Nucleus
• WKU-O/CBR
• Degree Programs
• WKU-O Campus
• OwensboroU
• High School
• Discover College
• Community Campus
• Workforce Development
• Workforce Solutions
• P-16 Alliance for Education

26. Growing Companies
• Innovation/ Commercialization/ High Tech
• High Tech Business Attraction
• Plant Therapeutics
• Foods
• Bio-Medical
• Centre for Business and Research
• Seed Capital

27. CBR Tenants
• Hollison
Technologies
• Adult Immunization
Management
• WKU- Plant Biotech
Center
• WKU- Food Science
Research Program
• GuitarGoods.com
• Brite Lite Logos
• Dalisha’s Desserts
• Craig O’Bryan
Graphics
• Infinity Digital Media
• Higher Ground
Consulting
• KBP Analytics
• Kentucky BioAlliance

28. Existing Business Retention
Threats
• Aluminum
• Legacy Manufacturing
• Energy Intensive Industries

29. New Investments, expansions, &
retention: 4,864 jobs since 2008

30. ED 101: Economic Gardening
Strategy Pros Cons Owensoboro
Economic Most cost Incremental gains, eMerging
Gardening effective strategy not headline- Ventures Center
based, therefore, (state funded)
Focusing on Focus on retaining politically difficult
business startups, and growing to sell because it GO-EDC Industry
entrepreneurs, existing is slow growth and Advantage-
and nurturing companies and long-term existing industry
growth of stage II gazelle program
companies using companies (3/4ths Requires a
data analysis, of jobs) different skill set Centre for
seed capital, and Business and
business Long-term stability Research
incubators

31. ED 101: Workforce

32. Incentive Process
Kentucky Business Investment Program (KBI)- locally requires
the local jurisdiction to abate 1% of occupational taxes for the 10-
year term of the incentive on projects creating 10 or more jobs.
State abates 3% of Kentucky payroll taxes on the project.
Other Types of Incentives or Shared Investments
•Industrial Revenue Bonds (IRB)
•Build-to-Suit/Leaseback
•Tax Increment Financing (TIF)
•Seed capital funding- Emerging Ventures Seed Fund

33. ED 101: Placemaking
Strategy Pros Cons Owensoboro
Placemaking Mobile people in Indirect approach Downtown
global economy based on Placemaking
Focus on correlations initiative
developing a Qualitative rather
region that is than quantitative Not a standalone Carnegie Village
attractive to highly program, development
educated people. Encourages compliments 1st around Centre for
regions to make and 2nd Business and
Investment quality of place approaches Research
always follows investments
talent Support for the
Supported by data arts

34. Placemaking
Place, environment,
amenities, and
livability are the key
factor for people in
today’s world when
choosing a place to live.
Talent, investment, and
businesses are all
attracted to quality
places.
Placemaking is the tool
used by communities
and regions to capitalize
on local assets to create
public spaces that
promote health,
happiness, and
propserity

35. Owensboro’s Place Strategy
Downtown Around Town
• Veterans Blvd • OMHS Parrish Campus
• Marina- West Executive • OMHS- New Campus
Inn Site to English Park • Moreland Park- Rec-Plex
• Bluegrass Center • By-Pass Extension
• Carnegie Village Corridor- US 60 East
• East Bridge District

36. EDC Operating Budget
2009-2010 Budget
Income
City of Owensboro $181,043
Daviess County Fiscal Court $155,000
Commonwealth of Kentucky- Innovation Center $66,000
Investment 2020- Private Companies $187,000
Total $589,043
Expenses
Salary and Staff Expenses $391,823
Marketing and Recruitment $52,428
Existing Industry Support $19,000
Operational Expenses (Rent, Office, Insurance) $124,792
Total $589,043